Annual report pursuant to Section 13 and 15(d)

Note 18 - COVID-19 (Coronavirus)

v3.20.1
Note 18 - COVID-19 (Coronavirus)
12 Months Ended
Mar. 28, 2020
Notes to Financial Statements  
Effect of Covid-19 Pandemic [Text Block]
18
COVID
-
19
(Coronavirus)
 
On
January 30, 2020,
the World Health Organization (“WHO”) announced a global health emergency because of a new strain of coronavirus (“COVID-
19”
) and in
March 2020
classified the outbreak as a pandemic. In
March 2020,
the President of the United States and the Governor of California declared a state of emergency, based on the rapid increase in COVID-
19
cases including in California. Since
March 2020,
with the spread of the coronavirus, we have implemented a number of directives to ensure the safety of our personnel and the continuity of our operations.
 
Recently, COVID-
19
has caused significant disruptions to the global, national and local economy. The overall impact of COVID-
19
on the California economy is
not
known and cannot be predicted at this time. While the disruption is currently expected to be temporary, there is uncertainty around the duration and the total economic impact. If this situation is prolonged, this could cause delays in our business and could have a short or long term adverse impact, possibly material, on the Company’s future financial condition, liquidity, and results of operations.