Uniroyal Global Engineered Products (UNIR) 10-Q 4 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Oct. 04, 2015	Nov. 04, 2015
Document and Entity Information:
Entity Registrant Name	UNIROYAL GLOBAL ENGINEERED PRODUCTS, INC.
Entity Trading Symbol	unir
Document Type	10-Q
Document Period End Date	Oct. 4, 2015
Amendment Flag	false
Entity Central Index Key	1,172,706
Current Fiscal Year End Date	--01-03
Entity Common Stock, Shares Outstanding		14,168,102
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Oct. 04, 2015	Dec. 28, 2014
CURRENT ASSETS
Cash and cash equivalents	$ 2,058,534	$ 604,234
Accounts receivable, net	15,674,772	14,607,787
Inventories, net	18,563,488	17,421,082
Other current assets	1,938,997	2,130,282
Related party receivable	22,510	74,931
Total Current Assets	38,258,301	34,838,316
PROPERTY AND EQUIPMENT	13,964,761	12,001,128
OTHER ASSETS
Intangible assets	3,590,405	3,668,956
Goodwill	1,079,175	1,079,175
Other long-term assets	1,377,218	1,295,965
Total Other Assets	6,046,798	6,044,096
TOTAL ASSETS	58,269,860	52,883,540
CURRENT LIABILITIES
Checks issued in excess of bank balance	515,070	438,145
Line of credit	17,738,392	16,396,306
Current maturities of long-term debt	553,402	522,095
Current maturities of capital lease obligations	574,804	96,071
Accounts payable	8,743,466	9,409,062
Accrued expenses	4,267,835	3,408,143
Related party payable	0	20,260
Current portion of postretirement benefit liability - health and life	115,039	115,039
Total Current Liabilities	32,508,008	30,405,121
LONG-TERM LIABILITIES
Long-term debt, less current portion	1,626,934	1,355,297
Capital lease obligations, less current portion	2,044,952	238,836
Related party lease financing obligations	2,164,360	2,162,393
Long-term debt to related parties	4,706,473	4,740,728
Postretirement benefit liability - health and life, less current portion	2,649,427	2,662,570
Other long-term liabilities	900,702	840,378
Total Long-Term Liabilities	14,092,848	12,000,202
Total Liabilities	$ 46,600,856	$ 42,405,323
STOCKHOLDERS' EQUITY
Convertible Preferred Stock: 5,000,000 shares authorized ($100 value):
Series A, 9,715 shares issued and outstanding	$ 798,500	$ 798,500
Series B, 2,702 shares issued and outstanding	270,160	270,160
Series C, 16,124 shares issued and outstanding	1,600,467	1,600,467
Preferred units, Series A UEP Holdings, LLC, 200,000 units issued and outstanding ($100 issue price)	617,571	617,571
Preferred units, Series B UEP Holdings, LLC, 150,000 units issued and outstanding ($100 issue price)	463,179	463,179
Preferred stock, Engineered Products Acquisition Limited, 50 shares issued and outstanding ($1.51 stated value)	75	75
Common stock, 95,000,000 shares authorized ($.001 par value) 14,193,252 and 14,351,398 shares issued and outstanding as of October 4, 2015 and December 28, 2014, respectively	14,194	14,352
Additional paid-in capital	32,259,258	32,549,585
Accumulated deficit	(24,810,838)	(26,626,634)
Accumulated other comprehensive income	456,438	790,962
Total Stockholders' Equity	11,669,004	10,478,217
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 58,269,860	$ 52,883,540

CONSOLIDATED BALANCE SHEETS PAR

CONSOLIDATED BALANCE SHEETS PARENTHETICALS - $ / shares	Oct. 04, 2015	Dec. 28, 2014
Parentheticals
Preferred Stock Par value	$ 100	$ 100
Preferred Stock shares authorized	5,000,000	5,000,000
Series A Shares issued	9,715	9,715
Series A Shares outstanding	9,715	9,715
Series B Shares issued	2,702	2,702
Series B Shares outstanding	2,702	2,702
Series C Shares issued	16,124	16,124
Series C Shares outstanding	16,124	16,124
Series A UEP Holdings LLC par value	$ 100	$ 100
Series A UEP Holdings LLC shares issued	200,000	200,000
Series A UEP Holdings LLC shares outstanding	200,000	200,000
Series B UEP Holdings LLC par value	$ 100	$ 100
Series B UEP Holdings LLC shares issued	150,000	150,000
Series B UEP Holdings LLC shares outstanding	150,000	150,000
Preferred Stock,Engineered Products Acquisition limited shares Par value	$ 1.51	$ 1.51
Preferred Stock,Engineered Products Acquisition limited shares issued	50	50
Preferred Stock,Engineered Products Acquisition limited shares outstanding	50	50
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	95,000,000	95,000,000
Common Stock, shares issued	14,193,252	14,351,398
Common Stock, shares outstanding	14,193,252	14,351,398

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 04, 2015	Sep. 28, 2014	Oct. 04, 2015	Sep. 28, 2014
Revenues:
NET SALES	$ 23,225,199	$ 23,928,155	$ 76,486,188	$ 73,698,401
COST OF GOODS SOLD	17,841,471	19,063,543	59,891,442	59,494,989
Gross Profit	5,383,728	4,864,612	16,594,746	14,203,412
OPERATING EXPENSES:
Selling	1,268,656	1,127,945	4,065,951	3,494,463
General and administrative	2,192,559	2,449,459	5,850,880	6,393,438
Research and development	440,257	352,696	1,185,051	1,104,631
OPERATING EXPENSES	3,901,472	3,930,100	11,101,882	10,992,532
Operating Income	1,482,256	934,512	5,492,864	3,210,880
OTHER INCOME (EXPENSE):
Interest and other debt related expense	(406,242)	(396,127)	(1,199,008)	(1,254,437)
Other income (expense)	(103,051)	88,786	69,653	198,433
Net Other Expense	(509,293)	(307,341)	(1,129,355)	(1,056,004)
INCOME BEFORE TAX PROVISION	972,963	627,171	4,363,509	2,154,876
TAX PROVISION	135,160	99,690	459,340	148,418
NET INCOME	837,803	527,481	3,904,169	2,006,458
Preferred stock dividend	(698,499)	0	(2,088,373)	0
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	$ 139,304	$ 527,481	$ 1,815,796	$ 2,006,458
EARNINGS PER COMMON SHARE:
Basic	$ 0.01	$ 0.04	$ 0.13	$ 0.14
Diluted	$ 0.01	$ 0.03	$ 0.10	$ 0.11
WEIGHTED AVERAGE SHARES OUTSTANDING:
Basic	14,264,699	14,128,309	14,323,414	14,148,717
Diluted	19,021,532	18,885,142	19,080,247	18,905,550

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 04, 2015	Sep. 28, 2014	Oct. 04, 2015	Sep. 28, 2014
COMPREHENSIVE INCOME (Unaudited)
NET INCOME	$ 837,803	$ 527,481	$ 3,904,169	$ 2,006,458
OTHER COMPREHENSIVE INCOME (LOSS):
Minimum benefit liability adjustment	(45,226)	(147,474)	(135,685)	(442,422)
Foreign currency translation adjustment	(237,772)	(277,447)	(198,839)	(96,840)
Unrealized gain (loss) on effective hedge:
Reclassification of amounts to earnings	0	9,335	0	42,478
Unrealized loss for the year	0	0	0	(1,561)
OTHER COMPREHENSIVE LOSS	(282,998)	(415,586)	(334,524)	(498,345)
COMPREHENSIVE INCOME	554,805	111,895	3,569,645	1,508,113
Preferred stock dividend	(698,499)	0	(2,088,373)	0
COMPREHENSIVE INCOME (LOSS) TO COMMON SHAREHOLDERS	$ (143,694)	$ 111,895	$ 1,481,272	$ 1,508,113

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - 9 months ended Oct. 04, 2015 - USD ($)	Preferred A Shares	Preferred A Amount	Preferred B Shares	Preferred B Amount	Preferred C Shares	Preferred C Amount	UEPH Series A Units	UEPH Series A Amount	UEPH Series B Units	UEPH Series B Amount	EPAL Preferred Shares	EPAL Preferred Amount	Common Stock Shares	Common Stock Amount	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income	Total Equity
Balance at Dec. 28, 2014	9,715	798,500	2,702	270,160	16,124	1,600,467	200,000	617,571	150,000	463,179	50	75	14,351,398	14,352	32,549,585	(26,626,634)	790,962	10,478,217
Net Income		$ 0		$ 0		$ 0		$ 0		$ 0		$ 0		$ 0	$ 0	$ 3,904,169	$ 0	$ 3,904,169
Other comprehensive loss		0		0		0		0		0		0		0	0	0	(334,524)	(334,524)
Preferred stock dividend		$ 0		$ 0		$ 0		$ 0		$ 0		$ 0		$ 0	$ 0	$ (2,088,373)	$ 0	$ (2,088,373)
Purchase treasury shares at cost	0	0	0	0	0	0	0	0	0	0	0	0	(158,146)	(158)	(329,753)	0	0	(329,911)
Stock-based compensation expense		$ 0		$ 0		$ 0		$ 0		$ 0		$ 0		$ 0	$ 39,426	$ 0	$ 0	$ 39,426
Balance at Oct. 04, 2015	9,715	798,500	2,702	270,160	16,124	1,600,467	200,000	617,571	150,000	463,179	50	75	14,193,252	14,194	32,259,258	(24,810,838)	456,438	11,669,004

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Oct. 04, 2015	Sep. 28, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
NET INCOME	$ 3,904,169	$ 2,006,458
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation	1,144,710	1,051,707
Stock-based compensation expense	39,426	0
Distribution of life insurance policy as compensation	0	207,227
Non-cash stock compensation expense	0	13,640
Contributed officer compensation	0	27,000
Amortization of intangible assets	15,003	45,995
Loss on disposal of property and equipment	39,547	5,209
Noncash postemployment health and life benefit	(73,783)	(442,422)
Changes in assets and liabilities:
Accounts receivable	(1,309,843)	(1,504,320)
Inventories	(1,343,187)	(330,089)
Other current assets	154,208	1,664
Related party receivable/payable	32,161	(8,350)
Other long-term assets	(16,784)	(106,200)
Accounts payable	(524,573)	180,868
Accrued expenses	621,626	891,370
Postretirement benefit liability - health and life	(75,046)	(21,996)
Other long-term liabilities	81,548	(22,438)
Cash Flows provided by Operating Activities	2,689,182	1,995,323
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(2,504,220)	(1,742,261)
Net payments on life insurance policies	(64,469)	(8,758)
Cash Flows used in Investing Activities	(2,568,689)	(1,751,019)
CASH FLOWS FROM FINANCING ACTIVITIES
Checks issued in excess of bank balance, net	76,925	(215,253)
Net advances on line of credit	1,570,787	186,839
Payments on long-term debt	(104,932)	(135,962)
Proceeds from issuance of long-term debt and capital lease obligations	2,153,430	567,449
Payments on capital lease obligations	(226,241)	(85,438)
Proceeds from related party obligation	3,156	155,955
Payment of preferred stock dividends	(1,785,710)	0
Purchase of treasury stock	(329,911)	(138,663)
Distributions to members	0	(478,494)
Cash Flows provided by (used in) Financing Activities	1,357,504	(143,567)
Net Change in Cash and Cash Equivalents	1,477,997	100,737
Cash and Cash Equivalents - Beginning of Period	604,234	311,029
Effects of currency translation on cash and cash equivalents	(23,697)	(6,693)
CASH AND CASH EQUIVALENTS - END OF PERIOD	$ 2,058,534	$ 405,073

Basis of Presentation

Basis of Presentation	9 Months Ended
	Oct. 04, 2015
Basis of Presentation
Basis of Presentation	1. Basis of Presentation The accompanying unaudited interim consolidated financial statements have been prepared based upon U.S. Securities and Exchange Commission rules that permit reduced disclosure for interim periods. Therefore, they do not include all information and footnote disclosures necessary for a complete presentation of Uniroyal Global Engineered Products, Inc.’s financial position, results of operations and cash flows, in conformity with generally accepted accounting principles. Uniroyal Global Engineered Products, Inc. (the “Company,” “Uniroyal Global,” “we,” or “us”) filed audited consolidated financial statements as of and for the years ended December 31, 2014 and 2013, which included all information and notes necessary for such complete presentation in conjunction with its 2014 Annual Report on Form 10-K. On April 29, 2015, the Board of Directors adopted an amendment to the Articles of Incorporation to change the Company’s name from Invisa, Inc. to Uniroyal Global Engineered Products, Inc. On June 25, 2015, the stockholders approved the amendment. The amended and restated Articles of Incorporation were filed with the Nevada Secretary of State and became effective on July 15, 2015. The results of operations for the interim period ended October 4, 2015 are not necessarily indicative of the results to be expected for any future period or the entire fiscal year. These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2014, which are contained in the Company’s 2014 Annual Report on Form 10-K. On November 10, 2014 the Company acquired all of the ownership interests in Uniroyal Engineered Products, LLC (“Uniroyal”), a U.S. manufacturer of textured coatings, and all of the ordinary common stock of Engineered Products Acquisition Limited (“EPAL”), the holding company for Wardle Storeys (Group) Limited (“Wardle Storeys”), a European manufacturer of textured coatings and polymer films. At that time the Company’s fiscal year was January 1 to December 31. Prior to their acquisitions these companies had been on a 52/53-week year depending on the nearest Sunday to December 31. Effective with the current year, the Company is changing its fiscal year to correspond to the reporting periods of its subsidiaries. The current fiscal year will be a 53-week year and will end on January 3, 2016. The current year’s interim quarters ended or will end on April 5, 2015, July 5, 2015 and October 4, 2015. The prior year comparative financial statements have been adjusted to conform with a 52/53-week reporting cycle. This change will not have any material effect on the previously filed Annual Report on Form 10-K for the year ended December 31, 2014; information set forth herein under the date of “December 28, 2014” is only a date change based on the new reporting periods for the 2015 fiscal year. The accompanying unaudited interim consolidated financial statements contain all adjustments (consisting of normal recurring items) which are, in the opinion of management, necessary for a fair statement of the Company’s financial position as of October 4, 2015, the results of operations, comprehensive income and cash flows for the interim periods ended October 4, 2015 and September 28, 2014. The unaudited interim consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. The Company uses the US dollar as the reporting currency for financial reporting. The financial position and results of operations of the Company’s UK-based operations are measured using the British Pound Sterling as the functional currency. Foreign currency translation gains and losses are recorded as a change in other comprehensive income. Transaction gains and losses generated from the remeasurement of assets and liabilities denominated in currencies other than the functional currency of our foreign operations are included in other (expense) / income on the consolidated statements of comprehensive income.

Noncash Transactions and Supple

Noncash Transactions and Supplemental Disclosure of Cash Flow Information	9 Months Ended
	Oct. 04, 2015
Noncash Transactions and Supplemental Disclosure of Cash Flow Information Text Block:
Noncash Transactions and Supplemental Disclosure of Cash Flow Information Text Block	2. Noncash Transactions and Supplemental Disclosure of Cash Flow Information During the nine months ended October 4, 2015 and September 28, 2014 the Company had reduced borrowings on its line of credit by converting dollars to additional borrowings on its term loans with Wells Fargo Capital Finance, LLC of $359,002 and $573,972, respectively. During the nine months ended October 4, 2015 and nine months ended September 28, 2014, the Company paid down its term loans using available borrowings on its various lines of credit of $351,063 and $448,723, respectively. The Company entered into new equipment leases with a value of $800,970 and $392,584 for the nine months ended October 4, 2015 and September 28, 2014, respectively, which are accounted for as capital leases. The fair value was added to property and equipment and a corresponding amount to capital lease obligations. Supplemental disclosure of cash paid for : October 4, 2015 September 28, 2014 Interest $ 1,163,136 $ 963,400

Derivatives

Derivatives	9 Months Ended
	Oct. 04, 2015
Derivatives
Derivatives	3. Derivatives The Company recognizes all of its derivative instruments, which consist of interest rate swaps, as either assets or liabilities in the balance sheet at fair value. The accounting for changes in the fair value of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and further, whether the hedge is a cash flow hedge or a fair value hedge. The Company incurs foreign currency risk on sales and purchases denominated in other currencies, primarily the British Pound Sterling and the Euro. Foreign currency exchange contracts are used by the Company principally to limit the exchange rate fluctuations of the Euro. The Euro risk is partially limited due to natural cash flow offsets. Currency exchange contracts are purchased for approximately 25% of the net risk. These contracts are not designated as cash flow hedges for accounting purposes. Changes in fair value of these contracts are reported in net earnings as part of other income and expense.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Oct. 04, 2015
Fair Value of Financial Instruments:
Fair Value of Financial Instruments	4. Fair Value of Financial Instruments The Company’s short term financial instruments consist of cash and cash equivalents, receivables, accounts payable and the line of credit. The Company adjusts the carrying value of financial assets denominated in other currencies such as cash, receivables, accounts payable and the lines of credit using the appropriate exchange rates at the balance sheet date. The Company believes that the carrying values of these short term financial instruments approximate their estimated fair values. The fair value of the Company’s long term debt is estimated based on current rates for similar instruments with the same remaining maturities. In determining the current interest rates for similar instruments the Company takes into account its risk of nonperformance. The Company believes that the carrying value of its long term debt approximates its estimated fair value. The fair value of the Company’s interest rate swaps is the estimated amounts that the Company would receive, or pay, to sell or transfer the swaps to a third party, taking into account current and future interest rates and the nonperformance risk of the Company and the counterparty. At October 4, 2015 and December 28, 2014 the Company did not have any interest rate swaps. The Company uses foreign currency exchange contracts which are recorded at their estimated fair values in the accompanying consolidated balance sheets. The fair values of the currency exchange contracts are based upon observable market transactions of spot and forward rates. For the nine months ended October 4, 2015, there have been no changes in the application of valuation methods applied to similar assets and liabilities.

Foreign Currency Translation

Foreign Currency Translation	9 Months Ended
	Oct. 04, 2015
Foreign Currency Translation:
Foreign Currency Translation	5. Foreign Currency Translation The financial position and results of operations of the Company’s foreign subsidiaries are measured using the local currency as the functional currency. Assets and liabilities of operations denominated in foreign currencies are translated into U.S. dollars at exchange rates in effect at the balance sheet date, while revenues and expenses are translated at the weighted average exchange rates during the year. The resulting translation gains and losses on assets and liabilities are recorded in accumulated other comprehensive income (loss), and are excluded from net income until realized through a sale or liquidation of the investment.

Inventory

Inventory	9 Months Ended
	Oct. 04, 2015
Inventory
Inventory	6. Inventory Inventories consist of the following: October 4, 2015 December 28, 2014 Raw materials $ 6,107,571 $ 5,225,361 Work-in-process 4,758,408 4,074,324 Finished goods 8,926,472 9,103,269 19,792,451 18,402,954 Less: Allowance for inventory obsolescence (1,228,963 ) (981,872 ) Total Inventories $ 18,563,488 $ 17,421,082

Other Current Assets

Other Current Assets	9 Months Ended
	Oct. 04, 2015
Other Current Assets
Other Current Assets	7. Other Current Assets Other current assets consist of the following: October 4, 2015 December 28, 2014 Current deferred tax asset, net of valuation allowance $ 784,693 $ 1,076,138 Other 1,154,304 1,054,144 Total Other Current Assets $ 1,938,997 $ 2,130,282

Other Long-term Assets

Other Long-term Assets	9 Months Ended
	Oct. 04, 2015
Other Long-term Assets
Other Long-term Assets	8. Other Long-term Assets Other long-term assets consist of the following: October 4, 2015 December 28, 2014 Non-current deferred tax asset, net of valuation allowance $ 835,000 $ 835,000 Other 542,218 460,965 Total Other Long-term Assets $ 1,377,218 $ 1,295,965

Other Long-term Liabilities

Other Long-term Liabilities	9 Months Ended
	Oct. 04, 2015
Other Long-term Liabilities
Other Long-term Liabilities	9. Other Long-term Liabilities Other long-term liabilities consist of the following: October 4, 2015 December 28, 2014 Non-current deferred tax liability $ 834,415 $ 742,997 Other 66,287 97,381 Total Other Long-term Liabilities $ 900,702 $ 840,378

Line of Credit

Line of Credit	9 Months Ended
	Oct. 04, 2015
Line of Credit
Line of Credit	10. Line of Credit The Company’s Uniroyal subsidiary has available a $30,000,000 revolving line of credit financing agreement with Wells Fargo Capital Finance, LLC, which matures on October 17, 2019. Interest is payable monthly at the Eurodollar rate plus 2.25% or Wells Fargo Capital Finance, LLC's prime rate at the Company's election on outstanding balances up to $6,000,000 and prime rate on amounts in excess of $6,000,000. The outstanding balance on the line of credit (“Uniroyal Line of Credit”) was $8,892,211 and $8,775,684 as of October 4, 2015 and December 28, 2014, respectively. The Company has classified the outstanding balance on this line of credit within current liabilities in the accompanying consolidated balance sheets. The Company’s Wardle Storeys subsidiary has available a £8,500,000 (approximately $13.2 million) revolving line of credit financing agreement with Lloyds Bank Commercial Finance Limited, which agreement can be terminated on six months’ notice by either party. The line has several tranches based on currency or underlying security. Interest is payable monthly at the base rate (UK LIBOR) plus 1.95% to 2.45% depending on the tranche. The outstanding balance on the line of credit (“Wardle Storeys Line of Credit”) was £5,832,457 and £4,888,972 ($8,846,181 and $7,620,622) as of October 4, 2015 and December 28, 2014, respectively. The Company has classified the outstanding balance on this line of credit within current liabilities in the accompanying consolidated balance sheets.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Oct. 04, 2015
Long-Term Debt
Long-Term Debt	11. Long-Term Debt Long-term debt consists of the following: Interest Rate October 4, 2015 December 28, 2014 Wells Fargo Capital Finance LLC Prime $ 1,436,450 $ 1,341,643 Lloyds Bank Commercial Finance Limited LIBOR + 3.15% 343,790 441,642 Wells Fargo Equipment Finance 7.82% — 26,894 Wells Fargo Equipment Finance 11.43% 12,478 28,811 Wells Fargo Equipment Finance 7.89% 1,677 6,519 Susquehanna Commercial Finance, Inc. 12.70% 8,440 31,883 Balboa Capital Corporation 5.72% 377,501 — 2,180,336 1,877,392 Current portion (553,402 ) (522,095 ) $ 1,626,934 $ 1,355,297 On May 11, 2015 the Company entered into a lease financing arrangement with Balboa Capital Corporation and received a payment of $410,921. The arrangement accrues interest at 5.72% and requires quarterly principal and interest payments of $37,169 beginning August 15, 2015. The arrangement matures in May 2018 and is secured by certain equipment at the Company’s Stoughton, WI facility.

Related Party Obligations

Related Party Obligations	9 Months Ended
	Oct. 04, 2015
Related Party Obligations
Related Party Obligations	12. Related Party Obligations Long-term debt to related parties consists of the following: Interest Rate October 4, 2015 December 28, 2014 Senior subordinated promissory note 9.25% $ 2,000,000 $ 2,000,000 Secured promissory note 6.25% 1,236,416 1,270,671 Senior secured promissory note 10.00% 1,470,057 1,470,057 $ 4,706,473 $ 4,740,728 The Company has a lease financing obligation under which it leases its main manufacturing facility and certain other property from a related party lessor entity, accrues interest at 18.20% and requires monthly principal and interest payments of $31,800, which are adjusted annually based on the consumer price index. This lease was modified to add new property in November 2014. The additional lease payment of $1,500 per month is included in the $31,800. The lease financing obligation matures on October 31, 2033. The Company has security deposits aggregating $267,500 held by the lessor entity. For the years 2014 through 2016 the amount of interest owed exceeds the amount of payments made, resulting in a net increase to the outstanding principal balance of the lease financing obligation. This obligation is shown in the accompanying financial statements as Related Party Lease Financing Obligation which has a balance of $2,165,550 (which includes the current portion of $1,190) and $2,162,393 as of October 4, 2015 and December 28, 2014,, respectively.

Capital Leases

Capital Leases	9 Months Ended
	Oct. 04, 2015
Capital Leases
Capital Leases	13. Capital Leases The Company has several capital leases on equipment which expire from September 2015 through March 2020 with monthly lease payments ranging from approximately $1,176 to $20,979 per month. The capital lease obligations are secured by the related equipment. As of October 4, 2015 and December 28, 2014, assets recorded under capital leases are included in property and equipment in the accompanying balance sheets. Amortization of items under capital lease obligations has been included with depreciation expense on owned property and equipment in the accompanying statements of operations. The Company constructed a new manufacturing line at its UK facility at a cost of approximately $2,378,000 commencing in 2014 and completed in March 2015. The Company entered into a financing lease in March 2015 and received a payment of £1,136,697 (approximately $1,720,589) from the leasing company. The financing lease has 60 monthly payments of £20,979 (approximately $31,000) with an interest rate of 4.09%. The Company entered into a financing lease in August 2015 to finance the acquisition of production equipment in the amount of £455,000 (approximately $697,495). The financing lease has 60 monthly payments of £8,607 (approximately $13,195) after an initial payment of £45,500 (approximately $69,752) with an interest rate of 9.53%. The principal balances of the capital lease obligations were $2,618,566 and $334,907 as of October 4, 2015 and December 28, 2014, respectively, with interest rates ranging from 3.84% to 14.47%.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	9 Months Ended
	Oct. 04, 2015
Accumulated Other Comprehensive Income Text Block:
Accumulated Other Comprehensive Income	14. Accumulated Other Comprehensive Income The changes in accumulated other comprehensive income (loss) were as follows: Minimum Benefit Liability Adjustments Foreign Currency Translation Adjustment Total Balance at December 28, 2014 $ 702,067 $ 88,895 $ 790,962 Other comprehensive loss before reclassifications — (198,839 ) (198,839 ) Reclassification adjustment for gain (loss) included in net income (135,685 ) — (135,685 ) Balance at October 4, 2015 $ 566,382 $ (109,944 ) $ 456,438 The gain (loss) reclassified from accumulated other comprehensive income (loss) into income is recorded to the following income statement line items: Other Comprehensive Income Component Income Statement Line Item Minimum Benefit Liability Adjustments General and administrative expense Unrealized Gain (Loss) on Effective Hedge Interest expense

Stock Option Plan

Stock Option Plan	9 Months Ended
	Oct. 04, 2015
Stock Option Plan:
Stock Option Plan	15. Stock Option Plan On June 25, 2015 the Company’s stockholders approved the adoption of the 2015 Stock Option Plan. This plan provides for the granting of options to purchase the Company’s common stock to employees and directors. The options granted are subject to a vesting schedule as set forth in each individual option agreement. Each option expires on the tenth anniversary of its date of grant unless an earlier termination date is provided in the grant agreement. The maximum aggregate number of shares of common stock that may be optioned and sold under the plan shall be 6% of the shares outstanding on the date of grant. The shares that may be optioned under the plan may be authorized but unissued or may be treasury shares. On July 30, 2015 the Board of Directors approved the granting of options to purchase 665,000 shares of the Company’s common stock to certain key employees and Company directors. The exercise price was $2.37 per share. The options will vest in three annual installments beginning on July 30, 2016. All options will expire on July 30, 2025. Compensation expense is recognized on a straight-line basis over a three-year vesting period from date of grant. The Company utilizes the Black-Scholes option pricing model to estimate the fair value of its option awards. The following table summarizes the significant assumptions used in the model for the July 30, 2015 grant: Exercise price $2.37 Expected volatility 45% Risk free interest rate 1.82% Expected term 6 years Expected dividends — We based the expected volatility on comparable companies’ volatility because we determined that this was more reflective and a better indicator the Company’s expected volatility than our historical volatility. The historical stock price and volatility prior to the November 10, 2014 acquisition were based on revenues and operations that were significantly different from the current business activities. On a quarterly basis, we assess changes to our estimate of expected option award forfeitures based on our review of recent forfeiture activity and expected future employee turnover. We recognize the effect of adjustments made to the forfeiture rates, if any, in the period that we change the forfeiture estimate. For the nine months ended October 4, 2015 there were no forfeiture rate adjustments and future adjustments are not expected to be significant. Stock option activity for the nine months ended October 4, 2015 are as follows: Stock Options Weighted Average Shares Price Outstanding at December 28, 2014 — $ — Granted 665,000 2.37 Outstanding at October 4, 2015 665,000 $ 2.37 Exercisable at October 4, 2015 — There was no intrinsic value to the options at October 4, 2015, since the closing price of the Company’s common stock was less than the exercise price. Option expense recognized was $39,426 for the three and nine months ended October 4, 2015. There were no option plans outstanding during the year ended December 28, 2014 and therefore no expense was recognized for the three and nine months ended September 28, 2014. As of October 4, 2015, there was $670,259 in unrecognized compensation cost related to the options granted under the 2015 Stock Option Plan. We expect to recognize those costs over the remaining 34 months of the vesting term.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Oct. 04, 2015
Recent Accounting Pronouncements:
Recent Accounting Pronouncements	16. Recent Accounting Pronouncements Standards Board issued a new standard ASU No. 2014-09, "Revenue from Contracts with Customers." Under ASU 2014-09 recognition of revenue occurs when a customer obtains control of promised goods or services in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new standard will be effective for the Company on January 1, 2018. The Company is in the process of determining what impact, if any, the adoption of this ASU will have on its financial position, results of operations and cash flows. On February 18, 2015, the Financial Accounting Standards Board issued a new standard ASU No. 2015-02, "Consolidation (Topic 810): Amendments to the Consolidation Analysis." The new standard affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. It will be effective for the Company on January 1, 2016. The Company is in the process of determining what impact, if any, the adoption of this ASU will have on its financial position, results of operations and cash flows. On April 7, 2015, the Financial Accounting Standards Board issued a new standard ASU No. 2015-03, “Simplifying the Presentation of Debt Issuance Costs” which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability. It will be effective for the Company on January 1, 2016. The Company is in the process of determining what impact, if any, the adoption of this ASU will have on its financial position, results of operations and cash flows. On July 22, 2015, the Financial Accounting Standards Board issued a new standard ASU No. 2015-11, “Simplifying the Measurement of Inventory”. The new standard requires entities to measure most inventory at the lower of cost and net realizable value, which is a change from the current guidance under which an entity must measure inventory at the lower of cost or market with market defined as replacement cost, net realizable value or net realizable value less a normal profit margin. The ASU will not apply to inventories that are measured by using either the last-in, first-out (LIFO) method or the retail inventory method. It will be effective for the Company on January 1, 2017. The Company is in the process of determining what impact, if any, the adoption of this ASU will have on its financial position, results of operations and cash flows.

Earnings per Common Share

Earnings per Common Share	9 Months Ended
	Oct. 04, 2015
Earnings per Common Share:
Earnings per Common Share	17. Earnings per Common Share The Company calculates basic net income per common share by dividing net income after the deduction of preferred stock or preference dividends by the weighted average number of common shares outstanding. The calculation of diluted net income per share is consistent with that of basic net income per common share but gives effect to all potential common shares (that is, securities such as options, warrants or convertible securities) that were outstanding during the period, unless the effect is antidilutive. At October 4, 2015 and December 28, 2014, the Company’s 28,541 shares of convertible preferred stock Series A, Series B and Series C can be converted into 4,756,833 common shares. The shares subject to the Stock Option Plan were not considered in the calculation of the earning per share for the nine months ended October 4, 2015 since their inclusion would have been anti-dilutive. The market price at October 4, 2015 was less that the exercise price of the options. This amount was added to the weighted average common shares to calculate the diluted earnings per share.

Subsequent Events

Subsequent Events	9 Months Ended
	Oct. 04, 2015
Subsequent Events:
Subsequent Events	18. Subsequent Events The Company has evaluated subsequent events occurring through the date that the financial statements were issued, for events requiring recording or disclosure in the October 4, 2015 financial statements. There were no material events or transactions occurring during this period requiring recognition or disclosure.

Schedule of Noncash Transaction

Schedule of Noncash Transactions and Supplemental Disclosure of Cash Flow Information (Tables)	9 Months Ended
	Oct. 04, 2015
Schedule of Noncash Transactions and Supplemental Disclosure of Cash Flow Information
Schedule of Noncash Transactions and Supplemental Disclosure of Cash Flow Information Text Block	The Company entered into new equipment leases with a value of $800,970 and $392,584 for the nine months ended October 4, 2015 and September 28, 2014, respectively, which are accounted for as capital leases. The fair value was added to property and equipment and a corresponding amount to capital lease obligations. Supplemental disclosure of cash paid for : October 4, 2015 September 28, 2014 Interest $ 1,163,136 $ 963,400

Schedule of Inventories (Tables

Schedule of Inventories (Tables)	9 Months Ended
	Oct. 04, 2015
Schedule of Inventories
Schedule of Inventories	Inventories consist of the following: October 4, 2015 December 28, 2014 Raw materials $ 6,107,571 $ 5,225,361 Work-in-process 4,758,408 4,074,324 Finished goods 8,926,472 9,103,269 19,792,451 18,402,954 Less: Allowance for inventory obsolescence (1,228,963 ) (981,872 ) Total Inventories $ 18,563,488 $ 17,421,082

Schedule of Other Current Asset

Schedule of Other Current Assets (Tables)	9 Months Ended
	Oct. 04, 2015
Schedule of Other Current Assets
Schedule of Other Current Assets	Other current assets consist of the following: October 4, 2015 December 28, 2014 Current deferred tax asset, net of valuation allowance $ 784,693 $ 1,076,138 Other 1,154,304 1,054,144 Total Other Current Assets $ 1,938,997 $ 2,130,282

Schedule of Other Long-term Ass

Schedule of Other Long-term Assets (Tables)	9 Months Ended
	Oct. 04, 2015
Schedule of Other Long-term Assets
Schedule of Other Long-term Assets	Other long-term assets consist of the following: October 4, 2015 December 28, 2014 Non-current deferred tax asset, net of valuation allowance $ 835,000 $ 835,000 Other 542,218 460,965 Total Other Long-term Assets $ 1,377,218 $ 1,295,965

Schedule of Other Long-term Lia

Schedule of Other Long-term Liabilities (Tables)	9 Months Ended
	Oct. 04, 2015
Schedule of Other Long-term Liabilities :
Schedule of Other Long-term Liabilities	Other long-term liabilities consist of the following: October 4, 2015 December 28, 2014 Non-current deferred tax liability $ 834,415 $ 742,997 Other 66,287 97,381 Total Other Long-term Liabilities $ 900,702 $ 840,378

Schedule of Long-Term Debt (Tab

Schedule of Long-Term Debt (Tables)	9 Months Ended
	Oct. 04, 2015
Schedule of Long-Term Debt
Schedule of Long-Term Debt	Long-term debt consists of the following: Interest Rate October 4, 2015 December 28, 2014 Wells Fargo Capital Finance LLC Prime $ 1,436,450 $ 1,341,643 Lloyds Bank Commercial Finance Limited LIBOR + 3.15% 343,790 441,642 Wells Fargo Equipment Finance 7.82% — 26,894 Wells Fargo Equipment Finance 11.43% 12,478 28,811 Wells Fargo Equipment Finance 7.89% 1,677 6,519 Susquehanna Commercial Finance, Inc. 12.70% 8,440 31,883 Balboa Capital Corporation 5.72% 377,501 — 2,180,336 1,877,392 Current portion (553,402 ) (522,095 ) $ 1,626,934 $ 1,355,297

Schedule of Related Party Oblig

Schedule of Related Party Obligations (Tables)	9 Months Ended
	Oct. 04, 2015
Schedule of Related Party Obligations
Schedule of Related Party Obligations	Long-term debt to related parties consists of the following: Interest Rate October 4, 2015 December 28, 2014 Senior subordinated promissory note 9.25% $ 2,000,000 $ 2,000,000 Secured promissory note 6.25% 1,236,416 1,270,671 Senior secured promissory note 10.00% 1,470,057 1,470,057 $ 4,706,473 $ 4,740,728

Schedule of Accumulated Other C

Schedule of Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Oct. 04, 2015
Schedule of Accumulated Other Comprehensive Income
Schedule of Accumulated Other Comprehensive Income (Loss)	The changes in accumulated other comprehensive income (loss) were as follows: Minimum Benefit Liability Adjustments Foreign Currency Translation Adjustment Total Balance at December 28, 2014 $ 702,067 $ 88,895 $ 790,962 Other comprehensive loss before reclassifications — (198,839 ) (198,839 ) Reclassification adjustment for gain (loss) included in net income (135,685 ) — (135,685 ) Balance at October 4, 2015 $ 566,382 $ (109,944 ) $ 456,438

Schedule of gain (loss) reclass

Schedule of gain (loss) reclassified from accumulated other comprehensive income (loss) into income (Tables)	9 Months Ended
	Oct. 04, 2015
Schedule of gain (loss) reclassified from accumulated other comprehensive income (loss) into income
Schedule of gain (loss) reclassified from accumulated other comprehensive income (loss) into income	The gain (loss) reclassified from accumulated other comprehensive income (loss) into income is recorded to the following income statement line items: Other Comprehensive Income Component Income Statement Line Item Minimum Benefit Liability Adjustments General and administrative expense Unrealized Gain (Loss) on Effective Hedge Interest expense

Schedule of Stock Option Plan (

Schedule of Stock Option Plan (Tables)	9 Months Ended
	Oct. 04, 2015
Schedule of Stock Option Plan:
Schedule of Summary of Significant assumptions used by utilizing the Black-Scholes Option pricing model	The Company utilizes the Black-Scholes option pricing model to estimate the fair value of its option awards. The following table summarizes the significant assumptions used in the model for the July 30, 2015 grant: Exercise price $2.37 Expected volatility 45% Risk free interest rate 1.82% Expected term 6 years Expected dividends —
Schedule of Stock Options Activity	Stock option activity for the nine months ended October 4, 2015 are as follows: Stock Options Weighted Average Shares Price Outstanding at December 28, 2014 — $ — Granted 665,000 2.37 Outstanding at October 4, 2015 665,000 $ 2.37 Exercisable at October 4, 2015 —

Noncash Transactions and Supp36

Noncash Transactions and Supplemental Disclosure of Cash Flow Information (Details) - USD ($)	9 Months Ended
	Oct. 04, 2015	Sep. 28, 2014
Noncash Transactions and Supplemental Disclosure of Cash Flow Information:
Reduced borrowings on line of credit converting dollars to additional borrowings on term loans	$ 359,002	$ 573,972
Paid down term loans using available borrowings on lines of credit	351,063	448,723
New equipment leases during the period valued at	800,970	392,584
Interest	$ 1,163,136	$ 963,400

Derivatives (Details)

Derivatives (Details)	Oct. 04, 2015
Derivatives:
Currency exchange contracts purchased for the net risk	25.00%

Fair Value of Financial Instr38

Fair Value of Financial Instruments (Details)	Oct. 04, 2015	Dec. 28, 2014
Fair Value of Financial Instruments Details
Interest rate swaps	0	0
For nine months ended Oct. 4, 2015, changes in the application of valuation methods applied to similar assets and liabilities	0

Inventories (Details)

Inventories (Details) - USD ($)	Oct. 04, 2015	Dec. 28, 2014
Inventories consist of the following:
Raw materials	$ 6,107,571	$ 5,225,361
Work-in-process	4,758,408	4,074,324
Finished goods	8,926,472	9,103,269
Inventories gross	19,792,451	18,402,954
Less: Allowance for inventory obsolescence	(1,228,963)	(981,872)
Total Inventories	$ 18,563,488	$ 17,421,082

Other Current Assets (Details)

Other Current Assets (Details) - USD ($)	Oct. 04, 2015	Dec. 28, 2014
Other Current Assets Details
Current deferred tax asset, net of valuation allowance	$ 784,693	$ 1,076,138
Other	1,154,304	1,054,144
Total Other Current Assets	$ 1,938,997	$ 2,130,282

Other Long-term Assets (Details

Other Long-term Assets (Details) - USD ($)	Oct. 04, 2015	Dec. 28, 2014
Other Long-term Assets Details
Non-current deferred tax asset, net of valuation allowance	$ 835,000	$ 835,000
Other	542,218	460,965
Total Other Long-term Assets	$ 1,377,218	$ 1,295,965

Other Long-term Liabilities (De

Other Long-term Liabilities (Details) - USD ($)	Oct. 04, 2015	Dec. 28, 2014
Other long-term liabilities consists of the following:
Non-current deferred tax liability	$ 834,415	$ 742,997
Other	66,287	97,381
Total Other Long-term Liabilities	$ 900,702	$ 840,378

Line of Credit (Narrative) (Det

Line of Credit (Narrative) (Details) - USD ($)	Oct. 04, 2015	Dec. 28, 2014
Line of Credit Details
Revolving line of credit - Uniroyal subsidiary which matures on Oct. 17, 2019	$ 30,000,000
Monthly interest payments at the Eurodollar rate plus	2.25%
Monthly interest payment alternate: Wells Fargo Capital Finance, LLC's prime rate at the Company election on outstanding balance of up to and prime rate on amounts in excess of	$ 6,000,000
Outstanding balance on the Uniroyal subsidiary line of credit	8,892,211	$ 8,775,684
Revolving line of credit - Wardle Storeys subsidiary, which can be terminated on 6 mos. notice by either party	$ 13,200,000
Interest is payable monthly at the base rate (UK LIBOR) plus minimum	1.95%
Interest is payable monthly at the base rate (UK LIBOR) plus maximum	2.45%
Outstanding balance on the Wardle Storeys subsidiary line of credit	$ 8,846,181	$ 7,620,622

Long-term debt (Details)

Long-term debt (Details) - USD ($)	Oct. 04, 2015	Dec. 28, 2014
Long-term debt consists of the following
Wells Fargo Capital Finance LLC Prime	$ 1,436,450	$ 1,341,643
Lloyds Bank Commercial Finance Limited LIBOR +	343,790	441,642
Wells Fargo Equipment Finance	0	26,894
Wells Fargo Equipment Finance	12,478	28,811
Wells Fargo Equipment Finance	1,677	6,519
Susquehanna Commercial Finance, Inc.	8,440	31,883
Balboa Capital Corporation	377,501	0
Totals Long term debt	2,180,336	1,877,392
Less: Current portion	(553,402)	(522,095)
Long-Term Portion	$ 1,626,934	$ 1,355,297

Long term debt - Lease financin

Long term debt - Lease financing arrangement (Details)	May. 11, 2015USD ($)
Lease financing arrangement with Balboa Capital Corporation:
Payment received	$ 410,921
Accrued Interest	5.72%
Quarterly principal and interest payments	$ 37,169

Long-term debt to related parti

Long-term debt to related parties consists of the following (Details) - USD ($)	Oct. 04, 2015	Dec. 28, 2014
Long-term debt to related parties consists of the following
Senior subordinated promissory note	$ 2,000,000	$ 2,000,000
Secured promissory note	1,236,416	1,270,671
Senior secured promissory note	1,470,057	1,470,057
Total Long-term Debt to Related Parties	$ 4,706,473	$ 4,740,728

Related Party Obligations (Deta

Related Party Obligations (Details) - USD ($)	Oct. 04, 2015	Dec. 28, 2014
Related Party Obligations:
Lease financing obligation of the Company which matures on Oct. 31, 2033 - monthly principal and interest payments	$ 31,800
Increase in the monthly payment due to Lease amendment in Nov. 2014 (included in monthly principal and interest payment)	$ 1,500
Rate of interest payable on lease financing obligation	18.20%
Security deposit made with the lessor entity at the inception of the lease financing arrangement	$ 267,500
Related Party Lease Financing Obligation balance	2,165,550	$ 2,162,393
Current portion of Lease Financing Obligation included in Oct. 4, 2015 Related Party Lease Financing Obligation balance	$ 1,190

Capital Leases (Details)

Capital Leases (Details) - USD ($)	Oct. 04, 2015	Dec. 28, 2014
Capital Leases Details
Capital Leases on equipment -Monthly lease payments minimum	$ 1,176
Capital Leases on equipment -Monthly lease payments maximum	$ 20,979
Capital Leases on equipment -Interest rates minimum	3.84%
Capital Leases on equipment -Interest rates maximum	14.47%
Constructed a new manufacturing line at UK facility at a cost	$ 2,378,000
Manufacturing line financing lease - received a payment from the leasing company	1,720,589
Manufacturing line financing lease - 60 monthly payments of	$ 31,000
Manufacturing line financing lease - interest rate	4.09%
Company entered into a financing Lease for acquisition of production equipment in August 2015 in the amount of	$ 697,495
Production Equipment financing lease - 60 monthly payments of	13,195
Production Equipment financing lease - initial payment of	$ 69,752
Production Equipment financing lease - interest rate	9.53%
Principal balance of all capital lease obligations	$ 2,618,566	$ 334,907

Stock Option Plan (Details)

Stock Option Plan (Details) - USD ($)	Oct. 04, 2015	Jul. 30, 2015	Jun. 25, 2015
Stock Option Plan Details
The maximum aggregate number of shares of common stock that may be optioned and sold under the plan shall be percent of the shares outstanding on the date of grant			6.00%
Options granted pursuant to the plan as of date.		665,000
Exercise price per share		$ 2.37
Option expense recognized during the period	$ 39,426
Unrecognized compensation cost related to options granted	$ 670,259

Summarizes the significant assu

Summarizes the significant assumptions used in the model for grant (Details)	3 Months Ended
	Jul. 30, 2015USD ($)$ / shares
Summarizes the significant assumptions used:
Exercise price | $ / shares	$ 2.37
Expected volatility	45.00%
Risk free interest rate	1.82%
Expected term (in years)	6
Expected dividends	$ 0

Stock option activity (Details)

Stock option activity (Details)	9 Months Ended
	Oct. 04, 2015$ / sharesshares
Stock Options Shares
Outstanding	0
Granted	665,000
Outstanding	665,000
Exercisable	0
Stock Options Weighted Average Excercise Price
Outstanding | $ / shares	$ 0
Granted | $ / shares	2.37
Outstanding | $ / shares	2.37
Exercisable | $ / shares	$ 0

Earnings (Loss) per Common Shar

Earnings (Loss) per Common Share (Details) - shares	Oct. 04, 2015	Dec. 28, 2014
Earnings (Loss) per Common Share Details
Shares of convertible preferred stock Series A, Series B and Series C convertible into shares of common stock	28,541	28,541
Shares of common stock issuable upon conversion of convertible preferred stock Series A, Series B and Series C	4,756,833	4,756,833

Long term debt Parentheticals (

Long term debt Parentheticals (Details)	9 Months Ended
	Oct. 04, 2015
Long term debt Parentheticals:
Wells Fargo Capital Finance LLC Interest Rate	prime
Lloyds Bank Commercial Finance Limited Interest Rate - LIBOR plus	3.15%
Wells Fargo Equipment Finance Interest Rate	7.82%
Wells Fargo Equipment Finance Interest Rate	11.43%
Wells Fargo Equipment Finance Interest Rate	7.89%
Susquehanna Commercial Finance, Inc. Interest Rate	12.70%
Balboa Capital Corporation Interest Rate	5.72%

Related Party Obligations Paren

Related Party Obligations Parentheticals (Details)	Oct. 04, 2015	Dec. 28, 2014
Related Party Obligations Parentheticals
Senior subordinated promissory note interest rate	9.25%	9.25%
Secured promissory note interest rate	6.25%	6.25%
Senior secured promissory note interest rate	10.00%	10.00%