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Convertible Notes Receivable
3 Months Ended
Mar. 28, 2020
Receivables [Abstract]  
Convertible Notes Receivable

NOTE 7. Convertible Notes Receivable

On May 31, 2018, the Company entered into a convertible note agreement with Simax Precision Technologies Limited (“the borrower”), which allowed them to borrow up to $15,000 in multiple promissory notes with an interest rate of 4.25% per annum payable on a semi-annual basis.  The Company expected to be a supplier of lithography modules to Simax, which is used in the manufacture, sale and service of lithography systems.

During the first quarter of 2020, the Company and the borrower entered into a settlement agreement to end their relationship as it pertains to this convertible note agreement. At the time of the settlement, the Company had $5,000 in outstanding convertible notes receivable with the borrower and the settlement amount of $2,848 was agreed to by both parties.  Therefore, the Company increased its reserve against the convertible notes receivable to $2,152 as of March 28, 2020.  The settlement was subsequently paid in April 2020.