Proceeds Received Under Escrow Arrangement

12 Months Ended

Nov. 02, 2019

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Proceeds Received Under Escrow Arrangement

NOTE 10 Proceeds Received Under Escrow Arrangement

The Company received $379,104 in fiscal year 2019 and $172,911 in fiscal year 2018 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.