Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an


           Off-Balance Sheet Arrangement of a Registrant.

On September 27, 2022, Ridgefield Acquisition Corp. (the "Company") executed a Revolving Promissory Note, dated as of September 27, 2022 (the "Note"), payable to Qualstar Corporation, a California corporation ("Qualstar"). Mr. Bronson, the Company's Chairman of the Board, President and Chief Executive Officer, is the President and CEO of Qualstar Corporation, as well as its largest shareholder. Under the terms of the Note, Qualstar may (but is not required to) make loans to the Company from time to time upon request by the Company, up to a maximum principal amount of $200,000 outstanding at any time. The Note may be prepaid by the Company at any time without penalty and is repayable on demand by Qualstar on or after December 31, 2024. The Note provides for interest to accrue on the outstanding principal balance at a rate of ten percent (10%) per annum (calculated on the basis of a 360-day year), compounded and payable quarterly.

The Company borrowed an initial amount of $20,000 under the Note on September 27, 2022.









                                       2

© Edgar Online, source Glimpses