Golden Enterprises Inc. (GLDC)

[zsvq1p]

See that note receivables is gone...

NOTE 2 - NOTES RECEIVABLE 
 ------------------------- 
  
 Notes receivable as of May 30, 2008 and June 1, 2007 consist of the following: 
  
                                                             2008         2007 
                                                             ----         ---- 
 8% note, due in 120 monthly installments of $3,640 
  through November 1, 2010, collateralized by property  $         -  $   132,955 
 8% note, due in 360 monthly installments of $12,474 
  through November 1, 2030, collateralized by property            -    1,583,801 
                                                        -----------  ----------- 
                                                                  -    1,716,756 
 Less current portion                                             -       58,126 
                                                        -----------  ----------- 
                                                        $         -  $ 1,658,630 
                                                        ===========  =========== 
 

During the year, the Company received cash payments totaling $53,107. On May 2,
2008, the Company re-acquired, the property located at 2930 Kraft Drive in
Nashville, TN for $1,715,985. In consideration, the Company cancelled the
remaining notes and interest receivable of $1,675,454 and paid $40,531 in cash
for closing costs.


Which may mean "Other" income will be gone in future!