SALE OF TROLLEY BUSINESS

6 Months Ended

Jul. 01, 2017

SALE OF TROLLEY BUSINESS

SALE OF TROLLEY BUSINESS

NOTE 8 — SALE OF TROLLEY BUSINESS

On May 11, 2016, the Company entered into an Asset Purchase Agreement (the “Agreement”) for the sale of certain assets of the Company’s trolley business. The final stage of the transaction closed in the second quarter of 2017 and no material gain or loss was realized on the sale.  The trolley business does not meet the criteria of FASB Accounting Standards Update 2014-08 (Reporting Discontinued Operations and Disclosure of Disposals of Components of an Entity) and is, therefore, not reported as discontinued operations.