Note 5 - Stockholders' Equity

6 Months Ended

Jul. 04, 2015

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

5. STOCKHOLDERS’ EQUITY

NASDAQ LISTING

The Company’s common stock currently trades on the NASDAQ Global Market (“NASDAQ”). On June 18, 2015, the Company received a letter from NASDAQ informing the Company that for the previous 30 consecutive business days, the bid price for the Company’s common stock had closed below $1.00, a requirement for listing on NASDAQ. The Company has until December 15, 2015 to regain compliance which would be satisfied if the Company’s common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days. If the Company does not regain compliance by December 15, 2015, the Company may be eligible for an additional 180 calendar days compliance period. To qualify, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial NASDAQ listing standards, with the exception of the bid price requirement, and would need to provide written notice of its intention to cure the deficiency during the second compliance period. However, if it appears to the NASDAQ staff that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, the staff would notify the Company that its securities would then be subject to delisting. In the event of such notification the Company may appeal the staff’s determination to delist its securities.