NOTE 7 – LINE OF CREDIT

The Company has a line-of-credit agreement with a local bank that permits borrowing up to $3,000,000 at November 27, 2015 and May 29, 2015. The line-of-credit is subject to the Company’s continued credit worthiness and compliance with the terms and conditions of the loan agreement. The Company’s line-of-credit debt as of November 27, 2015 was $0 with an interest rate of 3.25%, leaving the Company with $3,000,000 of credit availability. The Company’s line-of-credit debt as of May 29, 2015 was $2,823,477 with an interest rate of 3.25%, leaving the Company with $176,523 of credit availability.