Note 5 - Commitments and Contingencies

12 Months Ended

Jul. 02, 2017

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

5.

COMMITMENTS AND CONTINGENCIES

Lease Commitments

The Company and its subsidiaries are obligated under long-term real estate

lease agreements for

two

bowling centers. Certain of the Company's real estate leases provide for increases in real estate taxes.

At

July 2, 2017,

the minimum fixed rental commitments related to all non-cancelable leases, were as follows:

Year Ending
2018	$	318,000
2019		318,000
2020		33,834
Total minimum lease payments	$	669,834

 

Net rent expense was as follows:

	For the Years Ended
	Ju ly2, 20 1 7		July 3, 2016
Minimum rent under operating leases	$	318,000	$	318,000
Excess percentage rents		-		-
Net rent expense	$	318,000	$	318,000

Purchase Commitments

The Company's purchase commitments at

July 2, 2017

are for materials, supplies, services and equipment as part of the normal course of business.