Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 3 Months Ended
Jun. 25, 2022
Jun. 26, 2021
Cash flows from operating activities:    
Net loss $ (1,248,000) $ (860,000)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 39,000 52,000
Stock-based compensation 52,000 155,000
Cumulative dividends on Series E preferred stock 0 43,000
Finance costs for issuance of prefunded warrants 0 157,000
Finance costs from issuance of warrant in connection with term loan 14,000 0
Gain on remeasurement of prefunded warrants liability 0 (46,000)
Gain on remeasurement of warrant issued in connection with term loan (10,000) 0
Changes in operating assets and liabilities:    
Trade accounts receivable (981,000) 407,000
Inventories 404,000 (829,000)
Prepaid expenses (24,000) 37,000
Unbilled receivable 772,000 179,000
Right-of-use asset 90,000 84,000
Other long term assets (65,000) 0
Accounts payable (107,000) (245,000)
Accrued payroll and benefits 244,000 77,000
Deferred revenue 0 96,000
Accrued Interest 30,000 10,000
Other current and non-current liabilities 74,000 (16,000)
Net cash used in operating activities (716,000) (699,000)
Cash flows from investing activities:    
Purchases of property and equipment (41,000) 0
Net cash used in investing activities (41,000) 0
Cash flows from financing activities:    
Principal payments on leases (119,000) (107,000)
Repayments of borrowings (1,263,000) (1,008,000)
Proceeds from loans payable, net of issuance costs 2,514,000 620,000
Proceeds from issuance of stock, net of issuance costs 0 145,000
Proceeds from issuance of prefunded warrants 0 1,500,000
Finance costs from issuance of prefunded warrants   (157,000)
Net cash provided by financing activities 1,132,000 993,000
Increase in cash 375,000 294,000
Beginning cash 25,000 736,000
Ending cash 400,000 1,030,000
Supplementary disclosure of cash flow information:    
Cash paid for interest 13,000 3,000
Finance costs from issuance of warrant in connection with term loan 34,000 0
Prefunded Warrant Dividends    
Supplementary disclosure of noncash activities:    
Deemed dividend on common shares from prefunded warrants issuance 0 203,000
Series E Preferred Stock Dividends    
Supplementary disclosure of noncash activities:    
Deemed dividend on common shares from prefunded warrants issuance $ 2,000 $ 43,000