Proceeds Received Under Escrow Arrangement

12 Months Ended

Nov. 04, 2023

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Proceeds Received Under Escrow Arrangement

NOTE 9 Proceeds Received Under Escrow Arrangement

The Company received $239,736 in fiscal year 2023 and $364,520 in fiscal year 2022 under an escrow arrangement related to a Finance Revenue Sharing Agreement between 21st Mortgage Corporation and the Company. The distributions from the escrow account, related to certain loans financed by 21st Mortgage Corporation, are recorded in income by the Company when received, which has been the Company’s past practice.