Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.7.0.1
Consolidated Statements of Operations - USD ($)
shares in Thousands
12 Months Ended
Mar. 25, 2017
Mar. 26, 2016
Net sales $ 16,267,000 $ 14,596,000
Cost of Revenue 11,716,000 9,975,000
Gross margin 4,551,000 4,621,000
Operating expenses:    
Engineering 2,254,000 2,806,000
Selling, general and administrative 4,641,000 5,522,000
Total operating expenses 6,895,000 8,328,000
Operating loss (2,344,000) (3,707,000)
Gain/(loss) on adjustment of warrant liability to fair value 131,000 (12,000)
Other (expense) income (Gain on sale of product line) 802,000
Interest expense:    
Interest expense, net (111,000) (218,000)
Interest expense from accretion of loan discount (22,000) (165,000)
Total interest expense, net (133,000) (383,000)
Loss before income taxes (1,544,000) (4,102,000)
Provision for income taxes 2,000 2,000
Net loss $ (1,546,000) $ (4,104,000)
Loss per common share – basic (in dollars per share) $ (0.16) $ (0.59)
Loss per common share – diluted (in dollars per share) $ (0.16) $ (0.59)
Weighted average common shares used in per share calculation:    
Basic (in shares) 9,550 6,941
Diluted (in shares) 9,550 6,941