Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Current Period Unaudited)

v3.20.4
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Dec. 26, 2020
Mar. 28, 2020
[1]
Current assets:    
Cash and cash-equivalents $ 1,348 $ 657
Trade accounts receivable, net of allowance of $8 and $8, respectively 212 932
Inventories, net 3,136 3,261
Prepaid expenses and other current assets 2,393 2,209
Total current assets 7,089 7,059
Property and equipment, net 456 508
Right of use asset 946 1,183
Other long-term assets 176 176
Total assets 8,667 8,926
Liabilities and shareholders' equity    
Accounts payable 1,344 803
Loans payable, net of discounts and issuance costs 273 1,320
Accrued payroll and benefits 515 300
Deferred revenue 159
Lease obligations 440 426
Other current liabilities 331 364
Total current liabilities 2,903 3,372
Other non-current liabilities 30 119
Long term lease obligations 804 1,135
Total liabilities 3,737 4,626
Shareholders' equity:    
Common stock; no par value; Authorized – 13,333,333 shares; 2,635,856 shares at December 26, 2020 and March 28, 2020 issued and outstanding 32,157 31,952
Accumulated deficit (30,149) (30,574)
Total shareholders' equity 4,930 4,300
Total liabilities and shareholders' equity 8,667 8,926
Series A Preferred Stock [Member]    
Shareholders' equity:    
Preferred stock
Series B, C, and D Preferred Stock [Member]    
Shareholders' equity:    
Preferred stock 2,745 2,745
Series E Preferred Stock [Member]    
Shareholders' equity:    
Preferred stock $ 177 $ 177
[1] Derived from the audited consolidated financial statements as of and for the fiscal year ended March 28, 2020.