Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Jan. 01, 2022
Jan. 02, 2021
OPERATING ACTIVITIES:    
Net loss $ (16,887) $ (8,498)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 4,192 4,122
Amortization of debt issuance costs 9 27
Gain on Payroll Protection Program loan forgiveness (1,872) 0
Stock based compensation expense 303 578
Gain on settlement of vendor advance payments (952) (142)
Impairment charges 9,786 0
Gain on litigation settlement 0 (418)
Changes in assets and liabilities:    
Accounts receivable (620) 2,980
Inventories 421 (282)
Prepaid expenses and other current assets (287) (780)
Change in deferred income taxes 0 (270)
Income taxes receivable 196 (120)
Right of use assets 883 165
Other assets (1,399) 59
Lease liabilities (907) (73)
Accounts payable and accrued expenses 1,842 2,035
Net cash used in operating activities (5,292) (617)
INVESTING ACTIVITIES:    
Purchases of property and equipment (1,659) (507)
Proceeds from the sale of property and equipment 3 0
Purchase of intangible assets (65) (327)
Net cash used in investing activities (1,721) (834)
FINANCING ACTIVITIES:    
Proceeds from note payable 1,835 0
Payment on related party note 0 (1,500)
Proceeds from issuance of short term notes payable 795 3,469
Payments on short term notes payable (651) (565)
Proceeds from equity financing, net 5,544 0
Payments on notes payable (182) 0
Proceeds from stock option exercise 27 0
Net cash provided by financing activities 7,368 1,404
Effect of changes in exchange rate on cash and cash equivalents (29) (55)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 326 (102)
CASH AND CASH EQUIVALENTS, beginning of period 379 481
CASH AND CASH EQUIVALENTS, end of period 705 379
Supplemental cash flow disclosures:    
Interest paid 475 129
Income taxes paid, net $ 40 $ 30