Note 11 - Preferred Stock

12 Months Ended

Dec. 30, 2018

Notes to Financial Statements

Preferred Stock [Text Block]

NOTE

11

–

PREFERRED STOCK

The Company is authorized to designate and issue up to

5,000,000

shares of

$1.00

par value preferred stock in

one

or more series and to determine the rights and preferences of each series, to the extent permitted by the Articles of Incorporation, and to fix the terms of such preferred stock without any vote or action by the shareholders. The issuance of any series of preferred stock

may

have an adverse effect on the rights of holders of common stock and could decrease the amount of earnings and assets available for distribution to holders of common stock. In addition, any issuance of preferred stock could have the effect of delaying, deferring or preventing a change in control of the Company. As of

December 30, 2018

and

December 31, 2017,

there were

no

shares of preferred stock issued.