the policy with zurich was a guaranteed cost plan under which all claims are paid by zurich . zurich story_separator_special_tag the following management 's discussion and analysis reviews significant factors with respect to our financial condition at december 29 , 2017 , and results of operations for the fiscal years ended december 29 , 2017 and december 30 , 2016. this discussion should be read in conjunction with the consolidated financial statements , notes , tables , and selected financial data presented elsewhere in this report . our discussion and analysis contains forward-looking statements that are provided to assist in the understanding of anticipated future financial performance . however , such performance involves risks and uncertainties that may cause actual results to differ materially from those discussed in such forward-looking statements . a cautionary statement regarding forward-looking statements is set forth under the caption “ special note regarding forward-looking statements ” immediately prior to item 1 of this annual report on form 10-k. this discussion and analysis should be considered in light of such cautionary statements and the risk factors disclosed elsewhere in this report . 17 the following table reflects operating results from 2017 and 2016 ( in thousands , except per share amounts and percentages ) . percentages indicate line items as a percentage of total revenue . the table serves as the basis for the narrative discussion that follows . replace_table_token_5_th earnings before interest , taxes , depreciation and amortization , and non-cash compensation , or ebitda , is a non-gaap measure that represents our net income before interest expense , income tax expense , depreciation and amortization , and non-cash compensation . we utilize ebitda as a financial measure , as management believes investors find it a useful tool to perform more meaningful comparisons of past , present and future operating results and as a means to evaluate our operational results . we believe it is a complement to net income and other financial performance measures . ebitda is not intended to represent net income as defined by u.s. gaap , and such information should not be considered as an alternative to net income or any other measure of performance prescribed by u.s. gaap . we use ebitda to measure our financial performance because we believe interest , taxes , depreciation and amortization , and non-cash compensation bear little or no relationship to our operating performance . by excluding interest expense , ebitda measures our financial performance irrespective of our capital structure or how we finance our operations . by excluding taxes on income , we believe ebitda provides a basis for measuring the financial performance of our operations excluding factors that our branches can not control . by excluding depreciation and amortization expense , ebitda measures the financial performance of our operations without regard to their historical cost . by excluding non-cash compensation , ebitda provides a basis for measuring the financial performance of our operations excluding the value of our stock and stock options . for all of these reasons , we believe that ebitda provides us and investors with information that is relevant and useful in evaluating our business . however , because ebitda excludes depreciation and amortization , it does not measure the capital we require to maintain or preserve our fixed assets . in addition , because ebitda does not reflect interest expense , it does not take into account the total amount of interest we pay on outstanding debt nor does it show trends in interest costs due to changes in our financing or changes in interest rates . ebitda , as defined by us , may not be comparable to ebitda as reported by other companies that do not define ebitda exactly as we define the term . because we use ebitda to evaluate our financial performance , we reconcile it to net income , which is the most comparable financial measure calculated and presented in accordance with u.s. gaap . 18 the following is a reconciliation of ebitda to net income for the periods presented ( in thousands ) : replace_table_token_6_th results of operations fifty-two weeks ended december 29 , 2017 summary of operations : revenue increased approximately $ 4.8 million , or 5.2 % , to $ 98.1 million in 2017 from $ 93.3 million in 2016. our fiscal year ended december 30 , 2016 had 53 weeks and benefited from the inclusion of an additional week when compared to 2017 , with average weekly revenue in 2016 being approximately $ 1.8 million . in june 2016 , we acquired substantially all of the assets of hancock . in 2017 , revenue from the two hancock branches totaled approximately $ 7.6 million , an increase of approximately $ 3.1 million over 2016. revenue from our other branches ( excluding hancock ) in 2017 increased approximately $ 1.7 million , and when taking into consideration the additional week in 2016 , 2017 increased approximately $ 3.5 million . our branches serve a wide variety of customers and industries across 23 states . our individual branch revenue can fluctuate significantly on both a quarter-over-quarter and year-over-year basis depending on the local economic conditions and need for temporary labor services in the local economy . one of our goals is to increase the diversity of customers and industries we service at both the branch and the company level . we believe this will reduce the potential negative impact of an economic downturn in any one industry or region . story_separator_special_tag cost of staffing services : cost of staffing services decreased 0.5 % to 74.1 % of revenue in 2017 from 74.6 % in 2016. this decrease was primarily due to a 0.7 % relative decrease in our state unemployment insurance costs in 2017 , as we have placed an increased emphasis on managing this portion of our business in the last two years . state unemployment tax rates fluctuate annually based on our actual experience in each state related to claims filed by former employees . we also saw a relative decrease of 0.1 % in workers ' compensation insurance costs in 2017 , which can fluctuate as a result of changes to the mix of work performed during the year , safety of our field team members , changes in our claims history and ongoing claims management , and changes in actuarial assumptions . we perform site visits to ensure our employees are working in a safe environment , provide safety training when appropriate , and actively manage our workers ' compensation claims to minimize our expense and exposure . the aforementioned decreases were offset by a 0.3 % increase in compensation paid to our temporary employees due to competitive forces in a tightening labor market , as well as increases in minimum wages in some states in which we operate , which can result in fluctuations in the compensation paid to our temporary workforce in order to provide quality field team members to our customers . selling , general and administrative expenses , or sg & a : sg & a , relative to revenue , decreased 2.1 % to 21.8 % in 2017 from 23.9 % in 2016. this relative decrease is due to a decrease in internal salaries and related payroll taxes of 0.7 % , a decrease our provision for bad debt of 0.8 % , and decreased consulting and recruiting expense of 0.4 % , as turnover after the relocation of the corporate headquarters to denver has returned to normal levels . we also had small decreases in many areas as we continue to aggressively and effectively manage costs . these decreases were offset by an increase of 0.4 % in professional services related to the proxy contest and statement effected by ephraim fields . 19 story_separator_special_tag statements . workers ' compensation reserves : in accordance with the terms of our workers ' compensation liability insurance policy , we maintain reserves for workers ' compensation claims to cover our cost of all claims . we use third party actuarial estimates of the future costs of the claims and related expenses discounted by a 5 % present value interest rate to determine the amount of our reserves . the discount rate was increased to 5 % from 3 % in prior years to more accurately reflect our risk tolerance and the active management of workers ' compensation claims . we evaluate the reserves quarterly and make adjustments as needed . if the actual cost of the claims incurred and related expenses exceed the amounts estimated , additional reserves may be required . accounts receivable and allowance for doubtful accounts : accounts receivable are carried at their estimated recoverable amount , net of allowances . the allowance for doubtful accounts is determined based on historical write-off experience , age of receivable , other qualitative factors and extenuating circumstances , and current economic data and represents our best estimate of the amount of probable losses on our accounts receivable . the allowance for doubtful accounts is reviewed monthly and past due balances are written-off when it is probable that the receivable will not be collected . at december 29 , 2017 and december 30 , 2016 , our allowance for doubtful accounts was approximately $ 282,000 and $ 899,000 , respectively . goodwill and other intangible assets : goodwill represents the excess purchase price over the fair value of identifiable assets received attributable to business acquisitions and combinations . goodwill and other intangible assets are measured for impairment at least annually and whenever events and circumstances arise that indicate impairment may exist , such as a significant adverse change in the business climate . in assessing the value of goodwill , assets and liabilities are assigned to the reporting units and the appropriate valuation methodologies are used to determine fair value at the reporting unit level . identified intangible assets are amortized using the straight-line method over their estimated useful lives which are estimated to be between two and seven years . income taxes : we account for income taxes under the liability method , whereby deferred income tax liabilities or assets at the end of each period are determined using the enacted tax rate expected to be in effect when the taxes are actually paid or recovered . a valuation allowance is recognized on deferred tax assets when it is more likely than not that some or all of these deferred tax assets will not be realized . our policy is to prescribe a recognition threshold and measurement attribute for the recognition and measurement of a tax position taken or expected to be taken in a tax return . we have analyzed our filing positions in all jurisdictions where we are required to file returns and found no positions that would require a liability for unrecognized income tax positions to be recognized . in the event that we are assessed penalties and or interest , penalties will be charged to other financing expense and interest will be charged to interest expense . share-based compensation : periodically , we issue common shares or options to purchase our common shares to our officers , directors , employees , or other parties . compensation expense for these equity awards are recognized over the vesting period , based on the fair value on the grant date . we recognize compensation expense for only the portion of options that are expected to vest , rather than record forfeitures when they occur

liquidity and capital resources we believe that our cash flow from operations , working capital balances at december 29 , 2017 , and access to our account purchase agreement will be sufficient to fund anticipated operations through march 2019. at december 29 , 2017 , our current assets exceeded our current liabilities by approximately $ 13.3 million . included in current assets is cash of approximately $ 7.8 million and trade accounts receivable of $ 9.4 million . included in current liabilities are accrued wages and benefits of approximately $ 1.5 million , and the current portion of workers ' compensation claims liability of approximately $ 1.0 million . the liability related to our account purchase agreement facility was approximately $ 854,000 and $ 388,000 at december 29 , 2017 and december 30 , 2016 , respectively . the current financing agreement is an account purchase agreement with wells fargo bank , n.a . which allows us to sell eligible accounts receivable for 90 % of the invoiced amount on a full recourse basis up to the facility maximum , or $ 14.0 million at december 29 , 2017. when the receivable is collected , the remaining 10 % is paid to us , less applicable fees and interest . the term of the agreement is through april 7 , 2020. the agreement bears interest at the daily one month london interbank offered rate plus 2.50 % per annum . at december 29 , 2017 the effective interest rate was 4.06 % . interest is payable on the actual amount advanced . additional charges include an annual facility fee equal to 0.50 % of the facility threshold in place and lockbox fees . as collateral for repayment of any and all obligations , we granted wells fargo bank , n.a .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources we believe that our cash flow from operations , working capital balances at december 29 , 2017 , and access to our account purchase agreement will be sufficient to fund anticipated operations through march 2019. at december 29 , 2017 , our current assets exceeded our current liabilities by approximately $ 13.3 million . included in current assets is cash of approximately $ 7.8 million and trade accounts receivable of $ 9.4 million . included in current liabilities are accrued wages and benefits of approximately $ 1.5 million , and the current portion of workers ' compensation claims liability of approximately $ 1.0 million . the liability related to our account purchase agreement facility was approximately $ 854,000 and $ 388,000 at december 29 , 2017 and december 30 , 2016 , respectively . the current financing agreement is an account purchase agreement with wells fargo bank , n.a . which allows us to sell eligible accounts receivable for 90 % of the invoiced amount on a full recourse basis up to the facility maximum , or $ 14.0 million at december 29 , 2017. when the receivable is collected , the remaining 10 % is paid to us , less applicable fees and interest . the term of the agreement is through april 7 , 2020. the agreement bears interest at the daily one month london interbank offered rate plus 2.50 % per annum . at december 29 , 2017 the effective interest rate was 4.06 % . interest is payable on the actual amount advanced . additional charges include an annual facility fee equal to 0.50 % of the facility threshold in place and lockbox fees . as collateral for repayment of any and all obligations , we granted wells fargo bank , n.a .
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 Suspicious Activity Report : the policy with zurich was a guaranteed cost plan under which all claims are paid by zurich . zurich story_separator_special_tag the following management 's discussion and analysis reviews significant factors with respect to our financial condition at december 29 , 2017 , and results of operations for the fiscal years ended december 29 , 2017 and december 30 , 2016. this discussion should be read in conjunction with the consolidated financial statements , notes , tables , and selected financial data presented elsewhere in this report . our discussion and analysis contains forward-looking statements that are provided to assist in the understanding of anticipated future financial performance . however , such performance involves risks and uncertainties that may cause actual results to differ materially from those discussed in such forward-looking statements . a cautionary statement regarding forward-looking statements is set forth under the caption “ special note regarding forward-looking statements ” immediately prior to item 1 of this annual report on form 10-k. this discussion and analysis should be considered in light of such cautionary statements and the risk factors disclosed elsewhere in this report . 17 the following table reflects operating results from 2017 and 2016 ( in thousands , except per share amounts and percentages ) . percentages indicate line items as a percentage of total revenue . the table serves as the basis for the narrative discussion that follows . replace_table_token_5_th earnings before interest , taxes , depreciation and amortization , and non-cash compensation , or ebitda , is a non-gaap measure that represents our net income before interest expense , income tax expense , depreciation and amortization , and non-cash compensation . we utilize ebitda as a financial measure , as management believes investors find it a useful tool to perform more meaningful comparisons of past , present and future operating results and as a means to evaluate our operational results . we believe it is a complement to net income and other financial performance measures . ebitda is not intended to represent net income as defined by u.s. gaap , and such information should not be considered as an alternative to net income or any other measure of performance prescribed by u.s. gaap . we use ebitda to measure our financial performance because we believe interest , taxes , depreciation and amortization , and non-cash compensation bear little or no relationship to our operating performance . by excluding interest expense , ebitda measures our financial performance irrespective of our capital structure or how we finance our operations . by excluding taxes on income , we believe ebitda provides a basis for measuring the financial performance of our operations excluding factors that our branches can not control . by excluding depreciation and amortization expense , ebitda measures the financial performance of our operations without regard to their historical cost . by excluding non-cash compensation , ebitda provides a basis for measuring the financial performance of our operations excluding the value of our stock and stock options . for all of these reasons , we believe that ebitda provides us and investors with information that is relevant and useful in evaluating our business . however , because ebitda excludes depreciation and amortization , it does not measure the capital we require to maintain or preserve our fixed assets . in addition , because ebitda does not reflect interest expense , it does not take into account the total amount of interest we pay on outstanding debt nor does it show trends in interest costs due to changes in our financing or changes in interest rates . ebitda , as defined by us , may not be comparable to ebitda as reported by other companies that do not define ebitda exactly as we define the term . because we use ebitda to evaluate our financial performance , we reconcile it to net income , which is the most comparable financial measure calculated and presented in accordance with u.s. gaap . 18 the following is a reconciliation of ebitda to net income for the periods presented ( in thousands ) : replace_table_token_6_th results of operations fifty-two weeks ended december 29 , 2017 summary of operations : revenue increased approximately $ 4.8 million , or 5.2 % , to $ 98.1 million in 2017 from $ 93.3 million in 2016. our fiscal year ended december 30 , 2016 had 53 weeks and benefited from the inclusion of an additional week when compared to 2017 , with average weekly revenue in 2016 being approximately $ 1.8 million . in june 2016 , we acquired substantially all of the assets of hancock . in 2017 , revenue from the two hancock branches totaled approximately $ 7.6 million , an increase of approximately $ 3.1 million over 2016. revenue from our other branches ( excluding hancock ) in 2017 increased approximately $ 1.7 million , and when taking into consideration the additional week in 2016 , 2017 increased approximately $ 3.5 million . our branches serve a wide variety of customers and industries across 23 states . our individual branch revenue can fluctuate significantly on both a quarter-over-quarter and year-over-year basis depending on the local economic conditions and need for temporary labor services in the local economy . one of our goals is to increase the diversity of customers and industries we service at both the branch and the company level . we believe this will reduce the potential negative impact of an economic downturn in any one industry or region . story_separator_special_tag cost of staffing services : cost of staffing services decreased 0.5 % to 74.1 % of revenue in 2017 from 74.6 % in 2016. this decrease was primarily due to a 0.7 % relative decrease in our state unemployment insurance costs in 2017 , as we have placed an increased emphasis on managing this portion of our business in the last two years . state unemployment tax rates fluctuate annually based on our actual experience in each state related to claims filed by former employees . we also saw a relative decrease of 0.1 % in workers ' compensation insurance costs in 2017 , which can fluctuate as a result of changes to the mix of work performed during the year , safety of our field team members , changes in our claims history and ongoing claims management , and changes in actuarial assumptions . we perform site visits to ensure our employees are working in a safe environment , provide safety training when appropriate , and actively manage our workers ' compensation claims to minimize our expense and exposure . the aforementioned decreases were offset by a 0.3 % increase in compensation paid to our temporary employees due to competitive forces in a tightening labor market , as well as increases in minimum wages in some states in which we operate , which can result in fluctuations in the compensation paid to our temporary workforce in order to provide quality field team members to our customers . selling , general and administrative expenses , or sg & a : sg & a , relative to revenue , decreased 2.1 % to 21.8 % in 2017 from 23.9 % in 2016. this relative decrease is due to a decrease in internal salaries and related payroll taxes of 0.7 % , a decrease our provision for bad debt of 0.8 % , and decreased consulting and recruiting expense of 0.4 % , as turnover after the relocation of the corporate headquarters to denver has returned to normal levels . we also had small decreases in many areas as we continue to aggressively and effectively manage costs . these decreases were offset by an increase of 0.4 % in professional services related to the proxy contest and statement effected by ephraim fields . 19 story_separator_special_tag statements . workers ' compensation reserves : in accordance with the terms of our workers ' compensation liability insurance policy , we maintain reserves for workers ' compensation claims to cover our cost of all claims . we use third party actuarial estimates of the future costs of the claims and related expenses discounted by a 5 % present value interest rate to determine the amount of our reserves . the discount rate was increased to 5 % from 3 % in prior years to more accurately reflect our risk tolerance and the active management of workers ' compensation claims . we evaluate the reserves quarterly and make adjustments as needed . if the actual cost of the claims incurred and related expenses exceed the amounts estimated , additional reserves may be required . accounts receivable and allowance for doubtful accounts : accounts receivable are carried at their estimated recoverable amount , net of allowances . the allowance for doubtful accounts is determined based on historical write-off experience , age of receivable , other qualitative factors and extenuating circumstances , and current economic data and represents our best estimate of the amount of probable losses on our accounts receivable . the allowance for doubtful accounts is reviewed monthly and past due balances are written-off when it is probable that the receivable will not be collected . at december 29 , 2017 and december 30 , 2016 , our allowance for doubtful accounts was approximately $ 282,000 and $ 899,000 , respectively . goodwill and other intangible assets : goodwill represents the excess purchase price over the fair value of identifiable assets received attributable to business acquisitions and combinations . goodwill and other intangible assets are measured for impairment at least annually and whenever events and circumstances arise that indicate impairment may exist , such as a significant adverse change in the business climate . in assessing the value of goodwill , assets and liabilities are assigned to the reporting units and the appropriate valuation methodologies are used to determine fair value at the reporting unit level . identified intangible assets are amortized using the straight-line method over their estimated useful lives which are estimated to be between two and seven years . income taxes : we account for income taxes under the liability method , whereby deferred income tax liabilities or assets at the end of each period are determined using the enacted tax rate expected to be in effect when the taxes are actually paid or recovered . a valuation allowance is recognized on deferred tax assets when it is more likely than not that some or all of these deferred tax assets will not be realized . our policy is to prescribe a recognition threshold and measurement attribute for the recognition and measurement of a tax position taken or expected to be taken in a tax return . we have analyzed our filing positions in all jurisdictions where we are required to file returns and found no positions that would require a liability for unrecognized income tax positions to be recognized . in the event that we are assessed penalties and or interest , penalties will be charged to other financing expense and interest will be charged to interest expense . share-based compensation : periodically , we issue common shares or options to purchase our common shares to our officers , directors , employees , or other parties . compensation expense for these equity awards are recognized over the vesting period , based on the fair value on the grant date . we recognize compensation expense for only the portion of options that are expected to vest , rather than record forfeitures when they occur

