The Singing Machine Company, Inc. announced that on January 21, 2019, the company fully paid down the balance of its revolving line of credit with PNC Bank. During its peak season, the Company borrowed approximately $9,200,000 from its line of credit. As part of the Company’s terms with PNC Bank, it must pay down the line of credit to a minimum of $1,000,000 for 30 consecutive days prior to April 30. The Company elected to completely pay off the line 21 days after the conclusion of its peak season.