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Subsequent Events
3 Months Ended
Sep. 29, 2012
Subsequent Events [Abstract]  
Subsequent Events

(10) Subsequent Events

In October 2012, the Company renewed for one year ending January 2014 its lease at 79 Walton Street in Attleboro, Massachusetts. The Company has three additional options to renew for one year periods at a cost, including utilities, of $6,900 per month.

 

In November 2012, the Company and Sovereign Bank agreed to a modification of it’s Line of Credit and Lease Line. The modification waived a covenant violation at the end of the third quarter, modified future covenants, expanded the definition of receivables included in the borrowing base and reduced the Lease Line from $1.25 million to $500 thousand.