Commitments and Contingencies

6 Months Ended

Jul. 04, 2015

Commitments and Contingencies Disclosure [Abstract]

Note 9. Commitments and Contingencies

Capitalized Lease Obligations

On January 31, 2015, the Company entered into a financing transaction to purchase laboratory equipment.  Under the lease terms, the Company will make monthly lease payments, including interest, of approximately $7,000 for 48 months, for a total payment of approximately $356,000.  The Company has recorded a capital lease of approximately $304,000.  The equipment will be utilized in our core standards and contract services segment.

Subsequent to July 4, 2015, the Company entered into a financing transaction to purchase laboratory equipment.  Under the lease terms, the Company will make monthly lease payments, including interest, of approximately $5,000 for 60 months, for a total payment of approximately $276,000.  The Company will record a capital lease of approximately $243,000.  The equipment will be utilized in our core standards and contract services segment.