Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 9 Months Ended
Oct. 02, 2021
Sep. 26, 2020
OPERATING ACTIVITIES:    
Net loss $ (5,445) $ (5,535)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 3,136 3,104
Amortization of debt issuance costs 0 27
Stock based compensation expense 274 523
Noncash lease expense 0 137
Gain on Payroll Protection Program loan forgiveness (1,872) 0
Gain on settlement of vendor advance payments (952) 0
Change in deferred income taxes 0 (270)
Other (114) 40
Changes in assets and liabilities:    
Accounts receivable (1,931) 1,561
Income taxes receivable 196 (254)
Prepaid expenses and other current assets (71) (575)
Inventories 478 277
Right of use assets (995) 0
Lease liability 971 0
Accounts payable and accrued expenses 2,840 (77)
Net cash used in operating activities (3,485) (1,042)
INVESTING ACTIVITIES:    
Purchases of property and equipment (1,530) (12)
Purchases of intangibles (65) (281)
Net cash used in investing activities (1,595) (293)
FINANCING ACTIVITIES:    
Proceeds from issuance of short term debt 538 3,469
Payment on short term debt (61) (422)
Proceeds from equity financing, net 5,544 0
Proceeds from stock option exercise 27 0
Proceeds from note payable 1,835 0
Payments on notes payable (58) 0
Payment on related party note 0 (1,500)
Payments on short term notes payable (262) 0
Net cash provided by financing activities 7,563 1,547
Effect of changes in exchange rate on cash and cash equivalents (42) (55)
INCREASE IN CASH AND CASH EQUIVALENTS 2,441 157
CASH AND CASH EQUIVALENTS, beginning of period 379 481
CASH AND CASH EQUIVALENTS, end of period 2,820 638
Supplemental cash flow disclosures:    
Interest paid 146 126
Income taxes paid 28 76
Right of use asset - operating leases capitalized $ 1,815 $ 1,037