Note Payable

3 Months Ended

Apr. 02, 2016

Debt Disclosure [Abstract]

Note Payable

Note 10: Notes Payable

In September 2014, the Company obtained an auto loan of approximately $29 from a bank. The loan requires 60 monthly payments of $0.535 through August 2019. Interest is charged at a fixed nominal rate of 4.64%. The loan is collateralized by the underlying automobile.

	April 2, 2016		January 2, 2016
Note payable	$	20	$	21
Less current maturity		6		5
Note payable, net of current maturity	$	14	$	16

On January 6, 2016, David Mintz, the Company’s Chairman and Chief Executive, provided it with a loan of $500 which is due on December 31, 2017. Commencing March 31, 2016, interest of 5% is payable on a quarterly basis without compounding. The loan may be prepaid in whole or in part at any time without premium or penalty. The loan is convertible into the Company’s common stock at a conversion price of $4.01 per share, the closing price of its common stock on the NYSE MKT on the date the promissory note was entered into. In any event of default, as defined in the promissory note, without any action on the part of Mr. Mintz, the interest rate will increase to 12% per annum and the entire principal and interest balance under the loan, and all of the Company’s other obligations under the loan, will be immediately due and payable, and Mr. Mintz will be entitled to seek and institute any and all remedies available to him.

	April 2, 2016		January 2, 2016
Note payable-related party	$	500		—
Less current maturity		—		—
Note payable related party, net of current maturity	$	500		—