XML 25 R12.htm IDEA: XBRL DOCUMENT v3.6.0.2
Note 5 - Line of Credit
12 Months Ended
Oct. 28, 2016
Notes to Financial Statements  
Debt Disclosure [Text Block]
NOTE
5
-
Line of Credit:
 
We maintain a line of credit with Wells Fargo Bank, N.A. that expires on
March
1,
2018.
Under the terms of this line of credit, we
may
borrow up to
$4,000
at an interest rate equal to the bank’s prime rate or Libor plus
1.75%.
The borrowing agreement contains various covenants, the more significant of which require us to maintain a minimum tangible net worth, a minimum quick ratio, a minimum net income after tax and total capital expenditures of less than
$3,000.
  We were   in compliance with all covenants as of
October
28,
2016
except for the capital expenditure maximum which was waived by a letter dated
December
19,
2016.
There have been
no
borrowings under this line of credit during fiscal
2016
or
2015.