Note 8 - Cash Equivalents and Marketable Securities

3 Months Ended

Dec. 30, 2017

Notes to Financial Statements

Cash and Cash Equivalents Disclosure [Text Block]

NOTE

8.

Cash Equivalents and Marketable Securities

The Company considers all highly liquid instruments with an original maturity of

three

months or less to be cash equivalents. Cash equivalents are invested in money market mutual funds. Money market mutual funds held in a brokerage account are considered available for sale. The Company accounts for marketable securities in accordance with FASB ASC

320,

Investments—Debt and Equity Securities.

All marketable securities must be classified as

one

of the following: held to maturity, available for sale, or trading. The Company classifies its marketable securities as either available for sale or held to maturity.

Available for sale securities are carried at fair value, with unrealized holding gains and losses reported in stockholders’ equity as a separate component of accumulated other comprehensive income (loss). Held to maturity securities are carried at amortized cost. The cost of securities sold is determined based on the specific identification method. Realized gains and losses, and declines in value judged to be other than temporary, are included in investment income.

As of

December 30, 2017,

cash equivalents consisted of the following:

			Gross Unrealized				Estimated
	Cost		Gains		Losses		Fair Value
Money market mutual funds	$	1,007,294	$	-	$	-	$	1,007,294

As of

December 30, 2017,

held to maturity securities consisted of the following:

	Cost		Accrued Interest		Amortization Bond Premium		Amortized Cost		Unrealized Losses			Estimated Fair Value
Municipal bonds	$	234,273	$	3,694	$	33,286	$	204,681	$	(101	)	$	204,580

As of

September 30, 2017,

cash equivalents consisted of the following:

			Accrued		Gross Unrealized				Estimated
	Cost		Interest		Gains		Losses		Fair Value
Money market mutual funds	$	851,195	$	-	$	-	$	-	$	851,195

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (Cont’d)

As of

September 30, 2017,

held to maturity securities consisted of the following:

	Cost		Accrued Interest		Amortization Bond Premium		Amortized Cost		Unrealized Gains		Estimated Fair Value
Municipal bonds	$	412,366	$	6,986	$	59,099	$	360,253	$	216	$	360,469