<PAGE>   1
                                                                 EXHIBIT 10(iii)

                                 LINE OF CREDIT

         First Western Industries, LLC d/b/a New West Holdings, LLC (hereinafter
referred as the "Lender") and IntelliReady, Inc and its wholly owned subsidiary,
IntelliReady of Colorado, Inc., both Colorado Corporations (hereinafter
collectively referred as the "Borrower") agree to enter into a line of credit
borrowing arrangement. Lender agrees to advance monies sufficient to cover
Borrower's net cash outflow from operations on a bi-monthly basis for the period
of one (1) year, provided that Lender's obligations pursuant to this line of
Credit shall be subject to the terms and conditions contained herein. Borrower
promises to pay to the order of Lender at Lender's offices at 5567 S. Perry Park
Road, Sedalia, CO, 80135, or at such other place as the Lender may from time to
time designate, in lawful money of the United States America, the principal
balance outstanding on this line of credit. By this Line of Credit, the parties
intend to formally document the terms of previous advances by Lender to Borrower
and to set forth the terms of all future advances of funds.

                  1. BORROWER REQUIREMENTS. Borrower is required to provide
         detailed support for all amounts to be borrowed under the terms of this
         agreement. Borrower agrees to provide Lender with monthly estimated
         cash needs by the 5th day of each month.

                  2. LENDER'S RIGHTS. Lender is due the full amounts borrowed
         under this agreement and all accrued interest outstanding upon demand.
         Lender may terminate this agreement at will without cause. Lender does
         not warrant coverage of all cash needs of Borrower. Support must be
         provided before Lender will advance any monies. Lender has the right to
         review and/or audit borrower's detailed transactions with one (1) day's
         notice.

                  3. INTEREST RATE. For the period from the date of this Note
         until the date on which the entire principal balance outstanding is
         paid in full, interest shall accrue on the principal balance from time
         to time outstanding at an interest rate equal to ten percent (10%),
         provided that if the Prime Rate (at the highest of such Prime Rates if
         there is a range of rates) as published from time to time in the "Money
         Rates" column of the Wall Street Journal, Lender shall have the right
         to raise the interest rate on any new monies advanced by an amount
         equal to the increase in the Prime Rate. If the Prime Rate shall remain
         unpublished for more than one (1) full week or shall cease to exist,
         then Lender's right to increase the rate of interest shall be based
         upon increases in the Prime Rate established by Compass Bank, N.A.,
         from time to time in effect. Any such rate shall be adjusted on any
         date on which Lender provides written notice to borrower and shall only
         affect new advances of funds.

                  4. REPAYMENT. Interest accrued hereunder on the outstanding
         principal amount shall be paid annually in arrears, beginning on March
         1, 2002, or earlier with repayment of the entire amount of principal.
         The entire amount of principal outstanding, together with all accrued
         unpaid interest thereon at the rates hereinabove specified, shall be
         paid on demand of the Lender.

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                  5. SECURITY INTEREST. By this instrument, Borrower hereby
         grants Lender a Security Interest in all of its assets, including
         without limitation receivables and proceeds. This line of credit shall
         constitute a Security Agreement. Lender may file such Financing
         Statements and take such other actions as Lender deems appropriate to
         perfect its Security Interest. Unless otherwise defined in this Line of
         Credit, all capitalized terms in this paragraph 5 shall have the
         meaning prescribed to them by Article 9 of the Uniform Commercial Code.

                  6. DOCUMENTATION. Lender shall not be required to have
         Borrower sign a separate promissory note for future advances. Cancelled
         checks issued from Lender (or its subsidiaries and related entities) to
         Borrower or wire transfers from Lender's account to Borrower shall be
         deemed to be loans pursuant to this Line of Credit unless clearly
         documented to the contrary. Exhibit A, incorporated by this reference,
         is a schedule of all amounts previously advanced to Borrower pursuant
         to this arrangement. Borrower agrees to execute any additional
         documents that Lender deems necessary or appropriate to document
         advances made pursuant to this line of credit and to create and perfect
         Lender's Security Interest in Borrower's assets.

                  7. MISCELLANEOUS. IntelliReady, Inc. and IntelliReady of
         Colorado, Inc. acknowledge that they have joint and several liability
         for all funds advanced. This Line of Credit shall be construed and
         interpreted in accordance with Colorado law. Borrower hereby waives
         notice and presentment. In the event Lender is forced to commence
         collection proceedings, Borrower agrees to pay all collection costs,
         including without limitation attorney's fees. This is the entire
         agreement between the parties and supersedes all prior oral and written
         agreements relating to the funds identified on Exhibit A and any funds
         advanced after the date of this Line of Credit. This agreement is not
         intended to benefit any third parties and no such third parties may sue
         to enforce the terms of this agreement. Nothing in this Line of Credit
         shall be interpreted as altering or effecting Lender's rights pursuant
         to the Three Hundred Fifteen and no/100th Dollar ($315,000) Promissory
         Note dated February 14, 2001.

                  This Line of Credit is entered into this 22nd day of March
         2001 to be effective the 14th day of February 2001.

                                         LENDER

                                         New West Holdings, LLC


                                         By:
                                            ------------------------------------
                                                  Thomas J. Wiens, Manager


                                         BORROWER

                                         IntelliReady, Inc.


                                         ---------------------------------------
                                         Scott Campbell, CEO



                                         IntelliReady of Colorado, Inc.


                                         ---------------------------------------
                                         Scott Campbell, CEO

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EXHIBIT A
LINE OF CREDIT - DETAIL OF AMOUNTS BORROWED

<TABLE>
<CAPTION>
                                                 AMOUNT
                         DATE                  TRANSFERRED
                         ----                  -----------
<S>                                             <C>

                    February 14, 2001           $   13,876
                    February 15, 2001               71,000
                    February 20, 2001                5,000
                    February 21, 2001               30,000
                    February 15, 2001               30,000
                    February 26, 2001              100,000
                        March 5, 2001               10,000
                        March 8, 2001               10,000
                       March 12, 2001               30,000
                       March 14, 2001               75,000
                       March 15, 2001               11,000
                       March 15, 2001                  500
                       March 20, 2001               25,000
                       March 27, 2001               35,000
                                                ----------
                                                $  446,376
                                                ==========
</TABLE>