Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.8.0.1
Consolidated Statements of Operations - USD ($)
shares in Thousands
12 Months Ended
Mar. 31, 2018
Mar. 25, 2017
Net sales $ 9,800,000 $ 16,267,000
Cost of sales 7,064,000 11,716,000
Gross profit 2,736,000 4,551,000
Operating expenses:    
Engineering 1,794,000 2,254,000
Selling, general and administrative 4,076,000 4,641,000
Total operating expenses 5,870,000 6,895,000
Operating loss (3,134,000) (2,344,000)
Gain on adjustment of warrant liability to fair value 172,000 131,000
Gain on sale of product line 324,000 802,000
Interest expense:    
Interest expense, net (461,000) (111,000)
Interest expense from accretion of loan discount (22,000)
Total interest expense, net (461,000) (133,000)
Loss before income taxes (3,099,000) (1,544,000)
Provision for income taxes 2,000 2,000
Net loss (3,101,000) (1,546,000)
Deemed dividend on Series E shares (557,000)
Net loss attributable to common shareholders $ (3,658,000) $ (1,546,000)
Loss per common share – basic (in dollars per share) $ (0.38) $ (0.16)
Loss per common share – diluted (in dollars per share) $ (0.38) $ (0.16)
Weighted average common shares used in per share calculation:    
Basic (in shares) 9,738 9,550
Diluted (in shares) 9,738 9,550