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Balance Sheets (Unaudited) - USD ($)
Mar. 27, 2021
Dec. 26, 2020
Current assets:    
Cash and cash equivalents $ 167,918 $ 195,203
Accounts receivable-trade, net 3,778,203 2,914,800
Inventories, net 3,631,152 3,709,471
Prepaid expenses and other current assets 293,275 71,506
Total current assets 7,870,548 6,890,980
Property and equipment:    
Production equipment 10,326,614 10,265,471
Furniture and office equipment 568,846 568,846
Leasehold improvements 951,384 951,384
Total cost 11,846,844 11,785,701
Accumulated depreciation and amortization (10,698,338) (10,558,816)
Construction in progress 36,172 61,062
Net property and equipment 1,184,678 1,287,947
Right-of-use lease asset (note 4, leases) 664,000 25,000
Deferred taxes, net 117,000 117,000
Total Assets 9,836,226 8,320,927
Current liabilities:    
Borrowings against line of credit 193,395
Note payable, current portion 58,833 58,134
Accounts payable 1,503,327 909,291
Accrued expenses 531,548 804,091
Deferred revenue 319,216 12,177
Lease liability, current portion 148,000 25,000
Total current liabilities 2,754,319 1,808,693
Note payable less current portion 139,608 154,570
Long term lease liability 516,000
Total liabilities 3,409,927 1,963,263
Stockholders’ equity:    
Common stock, $0.01 par value, authorized 20,000,000 shares; issued 14,360,042 and 13,746,242 shares; outstanding 13,807,394 and 13,313,790 shares; at March 27, 2021 and December 26, 2020, respectively 143,600 137,462
Additional paid-in capital 37,925,674 36,688,894
Accumulated deficit (29,441,466) (29,472,369)
Less cost of 552,648 and 432,452 common shares repurchased at March 27, 2021 and December 26, 2020, respectively (2,201,509) (996,323)
Total stockholders’ equity 6,426,299 6,357,664
Total liabilities and stockholders’ equity $ 9,836,226 $ 8,320,927