XML 13 R9.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 4 - Debt and Line of Credit
6 Months Ended
Feb. 23, 2014
Debt Disclosure [Abstract]  
Debt Disclosure [Text Block]

4.     DEBT AND LINE OF CREDIT:


During the quarter ended February 23, 2014, the Company renewed and modified its Revolving Line of Credit with its bank. Under the agreement the Company can borrow up to $1 million. The agreement expires on February 1, 2015, is collateralized by all assets of the Company and carries an interest rate of LIBOR plus 2%. The agreement also contains restrictive provisions requiring a minimum net worth, a maximum debt to tangible net worth ratio as well as a debt service coverage ratio. At February 23, 2014, the Company was in compliance with these provisions.