NOTE RECEIVABLE

12 Months Ended

Oct. 01, 2011

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

6. NOTE RECEIVABLE

In March 2005, the Company sold a restaurant for $1,300,000. Cash of $600,000 was included on the sale. Of the $600,000 cash, $200,000 was paid to the Company as a fee to manage the restaurant for four months prior to closure and the balance was paid directly to the landlord. The remaining $700,000 was received in the form of a note receivable, at an interest rate of 6%, in installments through June 2011 and was fully collected as of that date.