Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.4.0.3
Consolidated Balance Sheets - USD ($)
Mar. 26, 2016
Mar. 28, 2015
Series A Preferred Stock [Member]    
Shareholders' equity:    
Convertible preferred stock of no par value; Authorized - 1,000,000 shares Series A - designated 250,000 shares; no shares at March 26, 2016 and March 28, 2015 issued and outstanding $ 0 $ 0
Series B, C, and D Preferred Stock [Member]    
Shareholders' equity:    
Convertible preferred stock of no par value; Authorized - 1,000,000 shares Series A - designated 250,000 shares; no shares at March 26, 2016 and March 28, 2015 issued and outstanding 2,911,000 2,911,000
Cash and cash-equivalents 1,331,000 1,170,000
Trade accounts receivable, net of allowance of $45, respectively 2,129,000 2,354,000
Inventories, net 5,694,000 3,365,000
Prepaid expenses and other current assets 327,000 373,000
Total current assets 9,481,000 7,262,000
Property and equipment, net 837,000 718,000
Other long term assets 8,000 74,000
Capitalized software development costs 876,000 0
Total assets 11,202,000 $ 8,054,000
Line of credit 800,000
Current portion of long term debt, net of discount 379,000 $ 811,000
Accounts payable 1,924,000 973,000
Accrued payroll and benefits 647,000 678,000
Deferred revenue 2,804,000 1,127,000
Deferred rent 110,000 127,000
Capital lease obligations 44,000 69,000
Other current liabilities 996,000 501,000
Total current liabilities $ 7,704,000 4,286,000
Long term loan 392,000
Warrant liability, at estimated fair value $ 353,000 252,000
Long term obligations - deferred rent 111,000
Long term obligations - capital lease $ 165,000 58,000
Total liabilities 8,222,000 5,099,000
Common stock of no par value; Authorized - 40,000,000 shares; 9,549,703 shares at March 26, 2016 and 6,706,065 at March 28, 2015 issued and outstanding 24,104,000 19,975,000
Accumulated deficit (24,035,000) (19,931,000)
Total shareholders' equity 2,980,000 2,955,000
Total liabilities and shareholders' equity $ 11,202,000 $ 8,054,000