Quarterly report pursuant to Section 13 or 15(d)

Note 7 - Related Party Transaction

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Note 7 - Related Party Transaction
9 Months Ended
Dec. 30, 2018
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]
Note
7
– Related Party Transaction
 
On
August 4, 2017,
Carousel entered into a lease of the Carousel facilities in Douglasville, Georgia with JST Capital, LLC (“JST”), a wholly-owned subsidiary of Pritech, Inc., which is owned by the Chief Executive Officer and the former President of Carousel. Carousel made lease payments of
$24,000
and
$72,000
to JST for the
three
and
nine
-month periods ended
December 30, 2018,
respectively. During the
three
and
nine
-month periods ended
December 30, 2018,
$20,000
and
$60,000,
respectively, of the lease payments were included in cost of products sold and
$4,000
and
$12,000,
respectively, were included in marketing and administrative expenses in the accompanying unaudited condensed consolidated statements of income.