|9 Months Ended|
Nov. 03, 2019
|Subsequent Events [Abstract]|
NOTE 13 - SUBSEQUENT EVENTS
The Company has evaluated events and transactions subsequent to November 3, 2019 through the date the condensed consolidated financial statements were issued.
On December 18, 2019, in connection with the distribution of the shares of common stock held by SAC Acquisition LLC ("SAC"), certain individuals that held options to acquire common units in SAC, which included officers of the Company, completed an offer to exchange those options for shares the Company's common stock that SAC held prior to the exchange. As part of this exchange, SAC transferred to the Company 175,390 shares of common stock of the Company, which constituted the shares to be received by the option holders pursuant to the exchange. Subsequently, the Company issued to the former option holders who elected to participate in the exchange those shares and withheld 73,507 shares which will be treated as treasury stock in exchange for the Company paying the former option holders' payroll taxes associated with the issuance.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef