Note 17 - Subsequent Events |
6 Months Ended | ||
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Jun. 29, 2025 | |||
| Notes to Financial Statements | |||
| Subsequent Events [Text Block] |
Subsequent to quarter end, the Company entered into an agreement for the sale-leaseback of one of its properties for gross proceeds of $3,200,000. In accordance with sale-leaseback accounting guidelines, the cash received will be compared to the fair market value of the property. The aggregate net book value of the property was $357,000 as of June 29, 2025. The lease has a term of 20 years. Our initial annual cash payments to the buyer-lessor are approximately $280,000, and the payments will escalate percent annually. The accounting treatment for this transaction has not yet been finalized.
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