v3.22.2
Consolidated Balance Sheets - USD ($)
Mar. 26, 2022
Mar. 27, 2021
Current assets:    
Cash $ 25,000 $ 736,000
Trade accounts receivable, net of allowance of $3 and $3, respectively 530,000 801,000
Inventories, net 4,853,000 3,601,000
Prepaid expenses 62,000 100,000
Unbilled receivable 1,380,000 1,120,000
Total current assets 6,850,000 6,358,000
Property, plant and equipment, net 341,000 455,000
Right-of-use asset 521,000 865,000
Other long-term assets 343,000 169,000
Total assets 8,055,000 7,847,000
Liabilities and shareholders’ equity    
Accounts payable 1,530,000 1,044,000
Loans payable, net of discounts and issuance costs 1,250,000 683,000
Accrued payroll and benefits 608,000 446,000
Deferred revenue 0 7,000
Lease obligations 485,000 445,000
Other current liabilities 241,000 279,000
Total current liabilities 4,114,000 2,904,000
Other non-current liabilities 10,000 6,000
Long term lease obligations 206,000 690,000
Total liabilities 4,330,000 3,600,000
Shareholders’ equity:    
Common stock; no par value; Authorized – 13,333,333 shares; 2,767,230 and 2,635,856 shares issued and outstanding at March 26, 2022 and March 27, 2021, respectively 34,842,000 32,306,000
Accumulated deficit (33,952,000) (30,981,000)
Total shareholders’ equity 3,725,000 4,247,000
Total liabilities and shareholders’ equity 8,055,000 7,847,000
Series A Preferred Stock [Member]    
Shareholders’ equity:    
Preferred stock 0 0
Series B, C, and D Preferred Stock [Member]    
Shareholders’ equity:    
Preferred stock 2,745,000 2,745,000
Series E Preferred Stock [Member]    
Shareholders’ equity:    
Preferred stock $ 90,000 $ 177,000

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