Note 6 - New Accounting Standards	6 Months Ended
Dec. 29, 2019
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	6. New Accounting Standards In February 2016, the FASB issued guidance on leases which requires entities to recognize right-of-use assets and lease liabilities on the balance sheet for the rights and obligations created by all leases, including operating leases, with terms of more than 12 months. The new guidance also requires additional disclosures on the amount, timing, and uncertainty of cash flows arising from leases. These disclosures include qualitative and quantitative information. The Company adopted this standard effective July 1, 2019. The result was the recognition of a right to use asset of $1,977,523 and a corresponding lease liability for the same amount. In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014 - 09, Revenue from Contracts with Customers (“ASU 2014 - 09” ), which creates a single, comprehensive revenue recognition model for all contracts with customers. Under this ASU and subsequently issued amendments, an entity should recognize revenue to reflect the transfer of promised goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods and services. ASU 2014 - 9 may be adopted either retrospectively or on a modified retrospective basis. The Company adopted the standard effective July 2, 2018 and determined there was no material effect on the financial statements. In August 2018, the FASB issued ASU No. 2018 - 13, Fair Value Measurement Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement . As part of the FASB's disclosure framework project, it has eliminated, amended and added disclosure requirements for fair value measurements. Entities will no longer be required to disclose the amount of, and reasons for, transfers between Level 1 and Level 2 of the fair value hierarchy, the policy of timing of transfers between levels of the fair value hierarchy and the valuation processes for Level 3 fair value measurements. Public companies will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. This ASU is effective for public entities for annual and interim periods beginning after December 15, 2019. Early adoption is permitted as of the beginning of any interim or annual reporting period. The Company does not believe it will materially impact disclosures.

New Accounting Standards

February 2016,

the FASB issued guidance on leases which requires entities to recognize right-of-use assets and lease liabilities on the balance sheet for the rights and obligations created by all leases, including operating leases, with terms of more than

months. The new guidance also requires additional disclosures on the amount, timing, and uncertainty of cash flows arising from leases. These disclosures include qualitative and quantitative information. The Company adopted this standard effective

July 1, 2019.

The result was the recognition of a right to use asset of

$1,977,523

and a corresponding lease liability for the same amount.

May 2014,

the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”)

No.

2014

09,

Revenue from Contracts with Customers (“ASU

2014

09”

), which creates a single, comprehensive revenue recognition model for all contracts with customers. Under this ASU and subsequently issued amendments, an entity should recognize revenue to reflect the transfer of promised goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods and services. ASU

2014

may

be adopted either retrospectively or on a modified retrospective basis. The Company adopted the standard effective

July 2, 2018

and determined there was

material effect on the financial statements.

August 2018,

the FASB issued ASU

No.

2018

13,

Fair Value Measurement Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement

. As part of the FASB's disclosure framework project, it has eliminated, amended and added disclosure requirements for fair value measurements. Entities will

longer be required to disclose the amount of, and reasons for, transfers between Level

and Level

of the fair value hierarchy, the policy of timing of transfers between levels of the fair value hierarchy and the valuation processes for Level

fair value measurements. Public companies will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level

fair value measurements. This ASU is effective for public entities for annual and interim periods beginning after

December 15, 2019.

Early adoption is permitted as of the beginning of any interim or annual reporting period. The Company does

not

believe it will materially impact disclosures.