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Note 13 - Debt
 9 Months Ended
Oct. 01, 2017
Notes to Financial Statements  
Long-term Debt [Text Block]
(
1
3
)
Debt
 
Debt outstanding consists of the following
(in thousands):
 
   
October 1
,
    
December 31
,
  
   
201
7
    
201
6
  
   
(Unaudited
)
    
 
 
 
Current
:
                
Current portion of capital lease obligation
   $
244
     $
208
  
Long Term
:
                
Note payable
– related party
   $
6,500
     $
6,500
  
Capital lease obligatio
n
    
2,764
      
2,950
  
Less unamortized debt issuance and modification cost
s
    
(80
 )    
(125
 )
Long term debt net of unamortized debt costs
   $
9,184
     $
9,325
  
 
Note Payable
– Related Party
 
The Company has received the benefit of cash infusions from GFCM in the form of secured promissory note obligations totaling
$6,500,000
in principal as of
October 1,
 
2017
and
December 
31,
 
2016.
  GFCM is an entity controlled by the Company’s chairman, president and chief executive officer, Jeffrey T. Gill and
one
of our directors, R. Scott Gill.  GFCM, Jeffrey T. Gill and R. Scott Gill are significant beneficial stockholders of the Company. The promissory note bears interest at a rate of
8.0%
per year until
March 31, 2019
and, thereafter, at the greater of
8%
or
500
basis points above the
five
-year Treasury note average during the preceding
90
-day period, in each case, payable quarterly (see Note
20
).
 
Subsequent to the
third
quarter ended
October 1, 2017,
the Company amended the secured promissory note to extend the maturity date, adjust the interest rate beginning on
April 1, 2019
and provide for a
first
priority security interest in substantially a
ll assets of the Company, including those in Mexico (see Note
20
).
 
Capital Lease Obligation
 
On
March 9, 2016,
the Company completed the sale of its
24
-acre Toluca property for
215,000,000
Mexican Pesos, or approximately
$12,182,000
in U.S. dollars. Simultaneously, the Company entered into a
ten
-year lease of the
9
acres and buildings currently occupied by the Company and needed for its ongoing business in Toluca (see Note
7
). As a result of the Toluca Sale-Leaseback, the Company has a capital lease obligation of
$3,008,000
for the building as of
October 
1,
 
2017.