On March 9, 2020 Puradyn Filter Technologies Incorporated entered into a Revolving Credit Agreement with Christian Meissner pursuant to which Mr. Meissner agreed to make a $250,000 credit line available to company from time to time until September 30, 2020. The company's ability to draw amounts under the credit line is at the discretion of Mr. Meissner. Under the terms of the Agreement, amounts the company borrows from Mr. Meissner will be evidenced by a 5% Senior Secured Revolving Note (the 'Note'). The Note will pay interest at the rate of 5% per annum, matures on September 30, 2020 and the company's obligations thereunder are secured by a first position security interest in its assets as evidenced by a Security Agreement of even date by and between the Company and Mr. Meissner.