Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Current Period Unaudited)

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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 27, 2021
 [1]
Jun. 26, 2020
Current assets:    
Cash $ 736 $ 1,030
Trade accounts receivable, net of allowance of $3 and $3, respectively 801 394
Inventories 3,601 4,404
Prepaid expenses 100 63
Unbilled receivable 1,120 941
Total current assets 6,358 6,832
Property and equipment, net 455 429
Right-of-use asset 865 781
Other long-term assets 169 169
Total assets 7,847 8,211
Liabilities and shareholders’ equity    
Accounts payable 1,044 799
Loan payable, net of discounts and issuance costs 683 295
Accrued payroll and benefits 446 523
Deferred revenue 7 103
Lease obligations 445 455
Prefunded warrants liability 0 1,657
Other current liabilities 279 281
Total current liabilities 2,904 4,113
Other non-current liabilities 6 0
Long term lease obligations 690 571
Total liabilities 3,600 4,684
Shareholders’ equity:    
Common stock; no par value; Authorized – 13,333,333 shares; 2,725,010 shares issued and outstanding at June 26, 2021 and 2,635,856 shares at March 27, 2021 32,306 32,736
Accumulated deficit (30,981) (32,044)
Total shareholders’ equity 4,247 3,527
Total liabilities and shareholders’ equity 7,847 8,211
Series A Preferred Stock [Member]    
Shareholders’ equity:    
Preferred stock 0 0
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 $ 177 $ 90
[1] Derived from the audited financial statements as of and for the fiscal year ended March 27, 2021.