XML 16 R2.htm IDEA: XBRL DOCUMENT v3.22.0.1
Balance Sheets - USD ($)
Dec. 25, 2021
Dec. 26, 2020
Current assets:    
Cash and cash equivalents $ 5,050,312 $ 195,203
Accounts receivable-trade, net 4,870,021 2,914,800
Inventories 3,911,602 3,709,471
Prepaid expenses and other current assets 225,873 71,506
Total current assets 14,057,808 6,890,980
Property and equipment:    
Production equipment 10,489,729 10,265,471
Furniture and office equipment 673,305 568,846
Leasehold improvements 951,384 951,384
Total cost 12,114,418 11,785,701
Accumulated depreciation and amortization (11,028,154) (10,558,816)
Construction in progress 246,669 61,062
Net property and equipment 1,332,933 1,287,947
Right-of-use lease asset (note 4, leases) 586,000 25,000
Deferred taxes, net 2,823,978 117,000
Total assets 18,800,719 8,320,927
Current liabilities:    
Borrowings against line of credit 0 0
Notes payable, current portion 55,906 58,134
Accounts payable 2,100,251 909,291
Accrued expenses 1,086,429 804,091
Deferred revenue 1,707,138 12,177
Current lease liability 155,000 25,000
Total current liabilities 5,104,724 1,808,693
Notes payable less current portion 98,684 154,570
Long-term lease liability 431,000 0
Total liabilities 5,634,408 1,963,263
Commitments & Contingencies
Stockholders’ Equity:    
Common stock, $0.01 par value, authorized 20,000,000 shares; issued 14,350,786 and 13,746,242 shares; outstanding 14,350,451 and 13,313,790; at December 25, 2021 and December 26, 2020, respectively 143,508 137,462
Additional paid-in capital 39,281,810 36,688,894
Accumulated deficit (26,256,492) (29,472,369)
Less cost of 335 and 432,452 common shares repurchased at December 25, 2021 and December 26, 2020, respectively (2,515) (996,323)
Total stockholders’ equity 13,166,311 6,357,664
Total liabilities and stockholders’ equity $ 18,800,719 $ 8,320,927