Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS UNAUDITED

v3.21.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS UNAUDITED - USD ($)
$ in Thousands
 3 Months Ended
Apr. 03, 2021
Mar. 28, 2020
OPERATING ACTIVITIES:    
Net income (loss) $ 502 $ (2,283)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 1,045 1,017
Amortization of debt issuance costs   10
Stock based compensation expense 109 376
Gain on Payroll Protection Program loan forgiveness (1,872)  
Gain on settlement of vendor advance payments (810)  
Change in deferred income taxes   (473)
Other (6) 28
Changes in assets and liabilities:    
Accounts receivable 82 2,629
Income taxes receivable   65
Prepaid expenses and other current assets 402 41
Inventories 623 35
Right of use assets (73)  
Lease liability 41  
Accounts payable and accrued expenses (385) (749)
Net cash provided by (used in) operating activities (342) 696
INVESTING ACTIVITIES:    
Purchases of property and equipment (297) (8)
Purchases of intangibles (49) (56)
Net cash used in investing activities (346) (64)
FINANCING ACTIVITIES:    
Proceeds from equity financing, net 5,544  
Proceeds from stock option exercise 11  
Payments on short term notes payable (144) (280)
Net cash provided by (used in) financing activities 5,411 (280)
Effect of changes in exchange rate on cash and cash equivalents (42) 4
INCREASE IN CASH AND CASH EQUIVALENTS 4,681 356
CASH AND CASH EQUIVALENTS, beginning of period 379 481
CASH AND CASH EQUIVALENTS, end of period 5,060 837
Supplemental cash flow disclosures:    
Interest paid 23 56
Right to use asset - operating leases capitalized $ 424 $ 930