Note 12 - Subsequent Event

3 Months Ended

Dec. 26, 2020

Notes to Financial Statements

Subsequent Events [Text Block]

NOTE 12. Subsequent Event

On

February 1, 2021,

the Company received a loan from bankHometown, under the U.S. Small Business Administration's Paycheck Protection Program as authorized under the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the “Economic Aid Act”). The loan, evidenced by a promissory note, is in the principal amount of

$474,400

and all or a portion of the loan is expected to be forgiven under the provisions of the Economic Aid Act. Any amount of the loan

not

forgiven will be paid back over

five

years at an interest rate of

1%.

Loan payments will be deferred for borrowers who apply for loan forgiveness until SBA remits the borrower's loan forgiveness amount to the lender. If a borrower does

not

apply for loan forgiveness, payments are deferred

10

months after the end of the covered period for the borrower's loan forgiveness (either

8

weeks or

24

weeks).