LIQUIDITY	6 Months Ended
Jun. 25, 2022
LIQUIDITY
NOTE 12 - LIQUIDITY	NOTE 12 – LIQUIDITY We define liquidity as our ability to pay liabilities as they become due, fund business operations and meet monetary contractual obligations. Our primary sources of liquidity are cash on hand, internally generated funds, sales of common stock pursuant to the ATM Agreement, and borrowings under the Revolving Credit Facility. As of June 25, 2022, the credit limit under the Revolving Credit Facility was $1.8 million and outstanding borrowings were $1.2 million, which yields enough interest to cover our minimum monthly interest charge. As of June 25, 2022, we were in compliance with all of the covenants under the Revolving Credit Facility. For additional information on the Revolving Credit Facility, see Note 5 – Debt. On January 11, 2022, we entered into the ATM Agreement pursuant to which we may offer and sell shares of our common stock having an aggregate offering price of up to $30 million to or through Lake Street, as sales agent, from time to time, in an “at the market offering”. The Company is not obligated to make any sales under the agreement and any determination by the Company to do so will be dependent, among other things, on market conditions and the Company’s capital raising needs. For additional information on the ATM Agreement, see Note 11 – Stockholders’ Equity. We believe our cash on hand, internally generated funds, availability under the Revolving Credit Facility, and sales of common stock pursuant to the ATM Agreement, along with other working capital, will be sufficient to fund our current operations and expected activity for the next twelve months.

LIQUIDITY

6 Months Ended

Jun. 25, 2022

NOTE 12 – LIQUIDITY

We define liquidity as our ability to pay liabilities as they become due, fund business operations and meet monetary contractual obligations. Our primary sources of liquidity are cash on hand, internally generated funds, sales of common stock pursuant to the ATM Agreement, and borrowings under the Revolving Credit Facility.

As of June 25, 2022, the credit limit under the Revolving Credit Facility was $1.8 million and outstanding borrowings were $1.2 million, which yields enough interest to cover our minimum monthly interest charge. As of June 25, 2022, we were in compliance with all of the covenants under the Revolving Credit Facility. For additional information on the Revolving Credit Facility, see Note 5 – Debt.

On January 11, 2022, we entered into the ATM Agreement pursuant to which we may offer and sell shares of our common stock having an aggregate offering price of up to $30 million to or through Lake Street, as sales agent, from time to time, in an “at the market offering”. The Company is not obligated to make any sales under the agreement and any determination by the Company to do so will be dependent, among other things, on market conditions and the Company’s capital raising needs. For additional information on the ATM Agreement, see Note 11 – Stockholders’ Equity.

We believe our cash on hand, internally generated funds, availability under the Revolving Credit Facility, and sales of common stock pursuant to the ATM Agreement, along with other working capital, will be sufficient to fund our current operations and expected activity for the next twelve months.