Balance Sheet

v3.20.2
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 27, 2020
Mar. 28, 2020
Current assets:    
Cash and cash-equivalents $ 642 $ 657 [1]
Trade accounts receivable, net of allowance of $8 and $8, respectively 1,108 932 [1]
Inventories, net 3,004 3,261 [1]
Prepaid expenses and other current assets 3,052 2,209 [1]
Total current assets 7,806 7,059 [1]
Property and equipment, net 466 508 [1]
Right of use asset 1,106 1,183 [1]
Other long-term assets 176 176 [1]
Total assets 9,554 8,926 [1]
Liabilities and shareholders' equity    
Accounts payable 761 803 [1]
Loans payable, net of discounts and issuance costs 1,854 1,320 [1]
Accrued payroll and benefits 428 300 [1]
Deferred revenue 147 159 [1]
Lease obligations 425 426 [1]
Other current liabilities 375 364 [1]
Total current liabilities 3,990 3,372 [1]
Other non-current liabilities 90 119 [1]
Long term obligations – leases 1,026 1,135 [1]
Total liabilities 5,106 4,626 [1]
Commitments and contingencies
Shareholders' equity:    
Preferred stock; no par value; Authorized - 1,000,000 shares; Series A convertible- designated 250,000 shares; no shares at June 27, 2020 and March 28, 2020 issued and outstanding
Common stock; no par value; Authorized – 13,333,333 shares; 2,635,856 shares at June 27, 2020 and 2,635,856 shares at March 28, 2020 issued and outstanding 32,028 31,952 [1]
Accumulated deficit (30,502) (30,574) [1]
Total shareholders' equity 4,448 4,300 [1]
Total liabilities and shareholders' equity 9,554 8,926 [1]
Series B, C, and D Preferred Stock [Member]    
Shareholders' equity:    
Preferred stock; no par value; Authorized - 1,000,000 shares; Series A convertible- designated 250,000 shares; no shares at June 27, 2020 and March 28, 2020 issued and outstanding 2,745 2,745 [1]
Series E Preferred Stock [Member]    
Shareholders' equity:    
Preferred stock; no par value; Authorized - 1,000,000 shares; Series A convertible- designated 250,000 shares; no shares at June 27, 2020 and March 28, 2020 issued and outstanding $ 177 $ 177 [1]
[1] Derived from the audited consolidated financial statements as of and for the fiscal year ended March 28, 2020.

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