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Balance Sheets - USD ($)
 12 Months Ended
Dec. 31, 2016
Dec. 26, 2015
Current assets:    
Cash and cash equivalents $ 3,407,760 $ 3,412,649
Accounts receivable-trade, net 1,959,606 3,572,479
Inventories, net 1,970,961 2,632,444
Prepaid expenses and other current assets 88,443 104,761
Total current assets 7,426,770 9,722,333
Property and equipment:    
Production equipment 9,046,846 8,460,727
Furniture and office equipment 412,412 409,793
Leasehold improvements 886,582 854,215
Total cost 10,345,840 9,724,735
Accumulated depreciation and amortization (8,720,219) (8,593,236)
Construction in progress 158,006 557,054
Net property and equipment 1,783,627 1,688,553
Deferred taxes 2,827,349 2,150,749
Total assets 12,037,746 13,561,635
Current liabilities:    
Accounts payable 662,482 1,622,564
Accrued expenses 623,959 931,916
Total current liabilities $ 1,286,441 2,554,480
Commitments (note 4)

(4) Leases and Commitments

 

Capital Lease Obligations

An equipment financing facility with Santander Bank (see note 7), agreed to in May 2016, allowed the Company to finance up to $500 thousand of eligible equipment. During 2016 the Company used none of this line and, as a result the Company had $500 thousand available remaining on the Santander lease line at year end.

Operating Lease Obligations

The Company entered into a 10-year lease for the Norton facilities effective on March 1, 2006. The leased facilities comprise approximately 38 thousand square feet. Subsequently the Company obtained two, one-year options which enabled it to continue to lease through February 28, 2019. In June 2016 the Company exercised the option to extend the lease through February 28, 2018 The lease is a triple net lease wherein the Company is responsible for payment of all real estate taxes, operating costs and utilities. The Company also has an option to buy the property and a first right of refusal during the term of the lease. Annual rental payments are $100 thousand in year one increasing to $152 thousand at the end of the extended term.

In February 2011, the Company entered into a lease for an additional 13.8 thousand square feet in Attleboro. The lease term is for one year and has an option to extend the lease for five additional one-year periods. Monthly rent, which includes utilities, is $6,900. The Company renewed the lease in 2013 for one additional year and also obtained two years of additional options which could extend the Company use through February 2019.  In 2016, the Company exercised its option to extend the lease through the end of February 2018.

Future minimum rental payments over the terms of the lease agreements are approximately as follows:

Fiscal year:

 2017   $235,200 
 2018    166,200 
 2019    25,400 
     $426,800 

 

  
Stockholders Equity:    
Common stock, $0.01 par value, authorized 20,000,000 shares; issued 13,423,492 and 13,412,292; outstanding 13,203,436 and 13,197,918 shares; at December 31, 2016 and December 26, 2015, respectively $ 134,235 134,123
Additional paid-in capital 35,452,685 35,245,030
Accumulated deficit (24,318,562) (23,864,945)
Less cost of 220,056 and 214,374 common shares repurchased at December 31, 2016 and December 26, 2015, respectively (517,053) (507,053)
Total stockholders equity 10,751,305 11,007,155
Total liabilities and stockholders equity $ 12,037,746 $ 13,561,635