v2.4.0.8
Long Term Debt (Tables)
 12 Months Ended
Dec. 28, 2013
Debt Disclosure [Abstract]  
Summary of Long-term Debt

Long-term debt of the Company was as follows:

 

     December 28,
2013		     December 31,
2012		  

Note payable to Fifth Third Bank, payable in monthly installments of $10,467 plus interest at Libor plus 4.0%, maturing on June 1, 2016, secured by all assets of the Company.

    $ 942,000      $ 1,067,600   

Less: Current portion of long-term debt

      (125,600 )      (125,600 ) 
  

 

 

    

 

 

  

Total long-term debt, net of current portion

    $ 816,400      $ 942,000   
  

 

 

    

 

 

  
Summary of Principal Repayment Requirements on Long-term Debt

At December 28, 2013, principal repayment requirements on long-term debt were as follows:

 

For year ended December 31,

    Amount  

2014

      125,600   

2015

      125,600   

2016

      565,200   
  

 

 

  

Total repayments on long-term debt

    $ 816,400