DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Jan. 01, 2022

DISCONTINUED OPERATIONS

Schedule income from discontinued operations

	Year Ended
	January 1, 2022			January 2, 2021
Net sales	$	44,289,411		$	42,788,524
Cost of products sold		(24,873,717	)		(40,701,607	)
Gross margin		19,415,694			2,086,917
Selling and administrative expenses		(15,962,532	)		(8,591,915	)
Restructuring costs		(11,807,512	)		-
Operating loss		(8,354,350	)		(6,504,998	)
Interest expense		(582,574	)		(686,200	)
Loss from discontinued operations before income taxes		(8,936,924	)		(7,191,198	)
Income tax benefit		2,103,752			1,561,801
Loss from discontinued operations	$	(6,833,172	)	$	(5,629,397	)

Schedule of assets and liabilities from discontinued operations

	January 1, 2022		January 2, 2021
Cash	$	434,126	$	809,809
Accounts receivable		1,153,274		5,944,923
Inventory		1,258,032		9,990,656
Prepaid expenses		59,850		1,192,530
Property, plant and equipment, net		591,920		10,927,791
Patents and other intangibles net of accumulated amortization		-		6,935
Goodwill		-		4,675,611
Right of use assets		24,697		173,364
Total assets of discontinued operations	$	3,521,899	$	33,721,619
Current assets of discontinued operations¹	$	3,521,899	$	17,937,918
Non-current assets of discontinued operations		-		15,783,701
Total assets of discontinued operations	$	3,521,899	$	33,721,619
Accounts payable	$	167,794	$	2,196,101
Accrued compensation and other accrued expenses		388,499		937,911
Note payable, current		-		22,164
Current portion of lease liability		24,697		96,369
Other long-term liabilities		-		76,995
Total liabilities of discontinued operations	$	580,990	$	3,329,540
Current liabilities of discontinued operations¹	$	580,990	$	3,252,545
Non-current liabilities of discontinued operations		-		76,995
Total liabilities of discontinued operations	$	580,990	$	3,329,540
¹ The total assets and liabilities of discontinued operations are presented as current in the January 1, 2022 balance sheet as we expect to sell the discontinued operations and collect proceeds within one year.