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Note P - Subsequent Events | 12 Months Ended
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Mar. 29, 2020
Notes to Financial Statements |
Subsequent Events [Text Block] | NOTE P - SUBSEQUENT EVENTS In March 2020, the World Health Organization declared the novel strain of coronavirus (“COVID- 19” ) a global pandemic. This contagious virus has adversely affected workforces, customers, economics, and financial markets globally, leading to an economic downturn. It has also disrupted the normal operations of many business, including ours. As of the date of this filing, certain Company-owned restaurants, franchise restaurants and Branded Menu Program locations are closed or only offering food through take-out and delivery services. Our Branded Product Program has been negatively impacted as many of our customers operate in venues that are currently closed and may be slow to re-open, such as professional sports venues, amusement parks, shopping malls and movie theatres. While it is not possible for us to predict the duration or magnitude of the adverse results of the outbreak of COVID- 19 and its effects on our business or results of operations at this time, we do anticipate that it will have an adverse effect on our revenue and profitability in fiscal year 2021. On April 21, 2020, the Company was granted a loan (the “PPP Loan”) from a lender in the aggregate amount of $1,225 pursuant to the Paycheck Protection Program under the Coronavirus Aid, Relief and Economic Security Act. The Company applied for the PPP Loan and received the amount of the PPP Loan prior to the issuance of guidance from the United States Treasury Department and U.S. Small Business Administration on April 23, 2020 ( the “New Guidance”). In light of the New Guidance, the Company determined to repay the PPP Loan to the lender. The PPP Loan was repaid in full on April 29, 2020.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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