Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.8
Consolidated Balance Sheets (USD $)
Mar. 29, 2014
Mar. 30, 2013
Assets    
Cash and cash-equivalents $ 1,059,000 $ 1,882,000
Trade accounts receivable, net of allowance of $44 and $35, respectively 1,846,000 1,666,000
Inventories, net 3,321,000 4,560,000
Prepaid expenses and other current assets 349,000 442,000
Total current assets 6,575,000 8,550,000
Property and equipment, net 949,000 751,000
Other long term-assets 69,000 59,000
Total assets 7,593,000 9,360,000
Liabilities and shareholders' equity    
Line of credit 1,165,000 577,000
Current portion of long term debt 200,000  
Accounts payable 1,430,000 788,000
Accrued payroll and benefits 755,000 1,047,000
Deferred revenue 1,329,000 2,278,000
Deferred rent 104,000 81,000
Capital lease obligations 147,000 66,000
Other current liabilities 472,000 505,000
Total current liabilities 5,602,000 5,342,000
Long term obligation - line of credit   280,000
Long term loan and warrant debt, net of discounts 672,000  
Derivative liability, at estimated fair value 128,000  
Long term obligations - deferred rent 237,000 341,000
Long term obligations - capital lease 77,000 89,000
Total liabilities 6,716,000 6,052,000
Commitments and contingencies      
Convertible preferred stock of no par value;    
Common stock of no par value; Authorized - 40,000,000 shares; 5,181,247 shares at March 29, 2014 and 5,079,747 at March 30, 2013 issued and outstanding 16,224,000 15,132,000
Accumulated deficit (18,258,000) (14,278,000)
Total shareholders' equity 877,000 3,308,000
Total liabilities and shareholders' equity 7,593,000 9,360,000
Convertible Preferred Stock [Member]
   
Convertible preferred stock of no par value;    
Preferred Stock, Value Issued      
Series B Preferred Stock [Member]
   
Convertible preferred stock of no par value;    
Preferred Stock, Value Issued 1,997,000 1,997,000
Series C Preferred Stock [Member]
   
Convertible preferred stock of no par value;    
Preferred Stock, Value Issued 457,000 457,000
Series D Preferred Stock [Member]
   
Convertible preferred stock of no par value;    
Preferred Stock, Value Issued $ 457,000 $ 0