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Balance Sheets (Current Period Unaudited) - USD ($)
Apr. 02, 2022
Dec. 25, 2021
Current assets:    
Cash and cash equivalents $ 4,699,694 $ 5,050,312
Accounts receivable-trade, net 4,902,518 4,870,021
Inventories, net 4,705,526 3,911,602
Prepaid expenses and other current assets 334,963 225,873
Total current assets 14,642,701 14,057,808
Property and equipment:    
Production equipment 10,526,008 10,489,729
Furniture and office equipment 738,205 673,305
Leasehold improvements 968,509 951,384
Total cost 12,232,722 12,114,418
Accumulated depreciation and amortization (11,133,276) (11,028,154)
Construction in progress 223,048 246,669
Net property and equipment 1,322,494 1,332,933
Right-of-use lease asset (note 4, leases) 558,000 586,000
Deferred taxes, net 2,698,686 2,823,978
Total Assets 19,221,881 18,800,719
Current liabilities:    
Note payable, current portion 51,620 55,906
Accounts payable 2,251,122 2,100,251
Accrued expenses 717,482 1,086,429
Deferred revenue 1,707,138 1,707,138
Lease liability, current portion 157,000 155,000
Total current liabilities 4,884,362 5,104,724
Note payable less current portion 87,988 98,684
Long-term lease liability 401,000 431,000
Total liabilities 5,373,350 5,634,408
Commitments & Contingencies
Stockholders’ equity:    
Common stock, $0.01 par value,authorized 20,000,000 shares; issued 14,423,486 and 14,350,786 shares; outstanding 14,422,311 and 14,350,451 shares; at April 2, 2022 and December 25, 2021, respectively 144,235 143,508
Additional paid-in capital 39,546,975 39,281,810
Accumulated deficit (25,837,056) (26,256,492)
Less cost of 1,175 and 335 common shares repurchased at April 2, 2022 and December 25, 2021, respectively (5,623) (2,515)
Total stockholders’ equity 13,848,531 13,166,311
Total liabilities and stockholders’equity $ 19,221,881 $ 18,800,719