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Stockholders’ Equity
 12 Months Ended
Dec. 30, 2023
Stockholders' Equity Note [Abstract]  
Stockholders’ Equity
Note 16: Stockholders’ Equity
Common Stock: The Company's Articles of Incorporation authorize 200,000,000 shares of common stock that may be issued from time to time having such rights, powers, preferences and designations as the Board of Directors may determine. As of December 30, 2023, and December 31, 2022, there were 4,957,647 and 3,150,230 shares, respectively, of common stock issued and outstanding.
Equity Offerings: On March 22, 2023, the Company entered into a Securities Purchase Agreement with certain institutional investors for the sale by the Company in a registered direct offering of 361,000 shares of the Company’s common stock, par value $0.001 per share, at a purchase price per share of Common Stock of $1.17. The offering closed on March 24, 2023. The aggregate gross proceeds for the sale of the shares of Common Stock were approximately $422,000, before deducting the placement agent fees and related expenses. The Company intends to use the net proceeds for working capital and general corporate purposes.
On August 18, 2023, the Company entered into a Securities Purchase Agreement with a certain institutional investor for the sale by the Company in a registered direct offering of: (i) 418,000 shares of the Company’s common stock, par value $0.001 per share, at an offering price of $0.8811 per share and (ii) pre-funded warrants exercisable for up to 481,348 shares of Common Stock to the Investor at an offering price equal to $0.8801 per pre-funded Warrant. The aggregate gross proceeds from the offering were approximately $790,000, before deducting the placement agent fees and related expenses. The Company intends to use the net proceeds for working capital and general corporate purposes. On August 31, 2023, 481,348 of the pre-funded warrants were exercised. In a concurrent private placement, the Company also granted warrants to purchase up to 899,348 shares of Common Stock. Each warrant is exercisable immediately following issuance at an exercise price of $0.7561 per share and expires August 31, 2023. As of December 30, 2023, there were 899,348 of the private placement warrants outstanding.
Equity Incentives: The Company's 2023 Plan, which was adopted by the Board in August 2023 and approved by the stockholders at the 2023 annual meeting of stockholders, replaces the 2016 Plan, which replaced the 2011 Plan. Under the 2023 Plan, the maximum aggregate number of shares, which may be subject to or delivered under Awards granted under the Plan is two million (2,000,000) shares. Awards may be in the form of a Stock Award, Option, Stock Appreciation Right, Stock Unit, or Other Stock-based Award granted in accordance with the terms of the respective Plan. During the year ended December 30, 2023, the Company granted $345,000 in restricted stock units, or 908,852 underlying shares of the Company's common stock, which were all immediately vested. As of December 30, 2023, $345,000 in restricted stock units, or 908,852 underlying shares of the Company's common stock, were outstanding.
The Company's 2016 Plan authorizes the granting of awards in any of the following forms: (i) incentive stock options, (ii) nonqualified stock options, (iii) restricted stock awards, and (iv) restricted stock units, and expires on the earlier of October 28, 2026, or the date that all shares reserved under the 2016 Plan are issued or no longer available. On
November 4, 2020, the Company amended the 2016 Plan to increase the issuance of common shares from 400,000 to 800,000. The vesting period is determined by the Board of Directors at the time of the stock option grant. As of December 30, 2023 and December 31, 2022, 100,000 and 90,000 options were outstanding under the 2016 Plan.
The Company's 2011 Plan authorizes the granting of awards in any of the following forms: (i) stock options, (ii) stock appreciation rights, and (iii) other share-based awards, including but not limited to, restricted stock, restricted stock units or performance shares, and expired on the earlier of May 12, 2021, or the date that all shares reserved under the 2011 Plan are issued or no longer available. As of December 30, 2023 and December 31, 2022, 14,000 and 20,000 options, respectively, were outstanding under the 2011 Plan. No additional awards will be granted under the 2011 Plan.
The following table summarizes stock option activity for the fiscal years ended December 30, 2023, and December 31, 2022 (Aggregate Intrinsic Value in $000’s):
Options
Outstanding 		Weighted
Average
Exercise
Price		Aggregate
Intrinsic
Value		Weighted
Average
Remaining
Contractual
Life
Outstanding at January 1, 2022117,500$7.16 $21 7.0
Cancelled/expired(7,500)
Outstanding at December 31, 2022110,0006.27 — 6.5
Granted10,0001.53 
Cancelled/expired(6,000)— 
Outstanding at December 30, 2023114,000$5.68 $— 6.1
Exercisable at December 30, 2023114,000$5.68 $— 6.1
The exercise price for stock options outstanding and exercisable outstanding at December 30, 2023 is as follows:
OutstandingExercisable
Number of OptionsExercise Price ($)Number of OptionsExercise Price ($)
6,000
$17.35 to $23.45
6,000
$17.35 to $23.45
—
$11.10 to $15.00
—
$11.10 to $15.00
42,000
$5.70 to $9.90
42,000
$5.70 to $9.90
66,000
$3.54 to $5.25
66,000
$3.54 to $5.25
114,000114,000
The following table summarizes information about the Company’s non-vested shares outstanding as of December 30, 2023 and December 31, 2022:
Non-vested SharesNumber of
Shares
Non-vested at January 1, 20227,500
Vested(7,500)
Non-vested at December 31, 2022—
Granted10,000
Vested(10,000)
Non-vested at December 30, 2023—
The Company recognized share-based compensation expense related to equity incentive awards of approximately $14,000 and approximately $5,000 for the fiscal years ended December 30, 2023, and December 31, 2022, respectively. As of December 30, 2023, the Company had no unrecognized share-based compensation expense associated with stock option awards.