|12 Months Ended|
Dec. 28, 2019
|Stockholders Equity Note [Abstract]|
Common Stock: After giving effect to the Reverse Stock Split, our Articles of Incorporation authorize 10,000,000 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. During fiscal year 2019, 224,483 common shares were issued as compensation to employees and consultants with a fair value of $500. During fiscal year 2018, 274,834 shares of common stock were granted and issued in lieu of professional services at a fair value of $919, and EEI converted its outstanding note into 44,623 shares of common stock at a fair value of $101. As of December 28, 2019, and December 29, 2018, there were 1,919,048 and 1,694,565 shares, respectively, of common stock issued and outstanding.
Stock options: The 2016 Plan, which replaces the 2011 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. The 2016 Plan provides for the issuance of up to 400,000 shares of common stock pursuant to awards granted under the 2016 Plan. Options granted to employees typically vest over two years, while grants to non-employee directors vest in six months. As of December 28, 2019 and December 29, 2018, 4,000 options were outstanding under the 2016 Plan.
Our 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 expires 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 28, 2019 and December 29, 2018, 40,400 and 96,900 options, respectively, were outstanding under the 2011 Plan. No additional awards will be granted under the 2011 Plan.
No options were granted during fiscal year 2019 and 2018. All outstanding options are vested and exerciseable.
Additional information relating to all outstanding options is as follows:
We recognized share-based compensation expense of $631 and $656 for fiscal years 2019 and 2018, respectively.
As of December 28, 2019 and December 29, 2018, there were 33,363 warrants outstanding to purchase 33,363 shares of common stock at a price of $3.40 per share that expire in May 2020.
The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP).
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef