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Treasury Stock
12 Months Ended
Dec. 28, 2019
Equity [Abstract]  
Treasury Stock

NOTE 10 - TREASURY STOCK

 

On April 21, 2015, we announced that the Board of Directors had authorized the repurchase of up to $2.0 million of our common stock from time to time through open market or privately negotiated transactions, based on prevailing market conditions. We are not obligated to repurchase any dollar amount or specific number of shares of common stock under the repurchase program, which may be suspended, discontinued or reinstated at any time. As of December 28, 2019, the Company had purchased and retired 1,290,460 shares for $1.6 million under this program. The stock repurchase program was suspended from May 16, 2017 and was reinstated on December 19, 2018. During the year ended December 29, 2018, we purchased and retired 21,723 shares at a cost of $15 thousand. During the year ended December 28, 2019, we purchased and retired 77,687 shares at a cost of $61 thousand. Management does not intend to repurchase any shares in the near future.