LONG TERM DEBT (Table)

12 Months Ended

Dec. 29, 2019

LONG TERM DEBT

Schedule of long term debt obligations

	29/12/2019			30/12/2018
Note payable to bank dated October 30, 2015 due in monthly installments of $6,916 through October 30, 2030, which includes principal and interest at a fixed rate of 4.75%.  This note is secured by two of the Company's Minnesota locations and the personal guaranty of a shareholder of the Company.	$	699,311		$	747,456
Note payable to bank dated November 16, 2015 due in monthly installments of $14,846, which includes principal and interest at fixed rate of 4.75% through November 16, 2030.  This note is secured by four of the Company's North Dakota locations locations and the personal guaranty of a shareholder of the Company.		1,509,435			1,612,400
Note payable to bank dated October 10, 2015 due in monthly installments of  $4,153 through March 11, 2030, which includes principal and interest at fixed rate of 4.75%.  This note is secured by the Company's Dairy Queen location and the personal guaranty of a shareholder of the Company.		414,562			443,406
Note payable to bank dated March 11, 2016 due in monthly installments of $3,692 through March 11, 2031 which includes principal and interest at a fixed rate of 4.75%. This note is secured by one of the Company's South Dakota locations and the personal guaranty of a shareholder of the Company.		384,208			409,352
Two notes payable to bank dated December 30, 2015 due in monthly installments of $5,190 which included interest at the fixed annual rate of 5%. These notes were paid in full during 2019.		-			36,419
Notes payable to bank dated November 10, 2016 payable in monthly installments of $1,331 which includes principal and interest at 4%, the interest rate is subject to adjustment based on 5-year Treasury Note rate 2021 and cannot be less than 4%.  This note is secured by property held for sale in Richmond Indiana and the personal guaranty of a shareholder of the Company.		151,234			160,949
Unsecured 8% notes payable to an entity controlled by shareholders of the Company dated December 26, 2017, originally due on demand after June 1, 2020. Effective July 1, 2019, a revised note was entered into extending the due date to June 1, 2021 requiring  monthly payments of $5,000, which includes principal and interest, beginning August 1, 2019.		207,264			225,000
Note payable to bank dated December 28, 2018 due in monthly installments of $1,644 through December 31, 2023 which includes principal and interest at a fixed rate of 5.50%. This note is secured by the West St. Paul location and the personal guaranty of a shareholder of the Company.		192,068			200,000
		3,558,082			3,834,982
Less - unamortized debt issuance costs		(59,381	)		(64,557	)
Current maturities		(277,666	)		(254,397	)
Total	$	3,221,035		$	3,516,028

Schedule of maturities of long-term debt

29/12/2019	$	277,667
01/01/2021		406,303
02/01/2022		256,116
01/01/2023		419,908
31/12/2023		270,288
Thereafter		1,927,800
	$	3,558,082