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Convertible Notes Receivable
6 Months Ended
Jun. 27, 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.  At December 31, 2019, the Company had $3,000, net of allowance, in outstanding convertible notes receivable with the borrower.

The Company and the borrower entered into a settlement agreement to end their relationship as it pertains to this convertible note agreement.  The Company agreed to the settlement amount of $2,848, which was paid in April 2020.