Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Jun. 25, 2022
Mar. 26, 2022
Current assets:    
Cash $ 400 $ 25
Trade accounts receivable, net of allowance of $0 and $3, respectively 1,510 530
Inventories, net 4,439 4,853
Prepaid expenses 85 62
Unbilled receivable 609 1,380
Total current assets 7,043 6,850
Property, plant and equipment, net 352 341
Right-of-use asset 431 521
Other long-term assets 406 343
Total assets 8,232 8,055
Liabilities and shareholders’ equity    
Accounts payable 1,423 1,530
Loans payable, net of discounts and issuance costs 2,482 1,250
Accrued payroll and benefits 852 608
Lease obligations 488 485
Other current liabilities 356 241
Total current liabilities 5,601 4,114
Other non-current liabilities 19 10
Long term lease obligations 83 206
Total liabilities 5,703 4,330
Shareholders’ equity:    
Common stock 34,894 34,842
Accumulated deficit (35,200) (33,952)
Total shareholders’ equity 2,529 3,725
Total liabilities and shareholders’ equity 8,232 8,055
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 $ 90 $ 90