Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
 12 Months Ended
Dec. 31, 2022
Jan. 01, 2022
Revenues $ 39,611,000 $ 40,022,000
Cost of revenues 31,992,000 31,154,000
Gross profit 7,619,000 8,868,000
Operating expenses:    
Selling, general and administrative expenses 11,790,000 12,089,000
Total Operating Expenses 11,790,000 12,089,000
Operating loss 5,247,000 (16,771,000)
Other income (expense):    
Gain on debt settlement 0 1,799,000
Interest expense, net (489,000) (773,000)
Gain (loss) on litigation settlement 942,000 (1,950,000)
Gain on settlement of vendor advance payments 0 952,000
Gain on reversal of contingent liabilities 637,000 0
Unrealized loss on marketable securities (631,000) 0
Other income, net 630,000 152,000
Total other income, net 1,089,000 180,000
Loss before benefit from income taxes (3,082,000) (3,041,000)
Income tax (benefit) provision (6,671,000) 273,000
Net income (loss) from continuing operations 3,589,000 (3,314,000)
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent, Total 7,403,000 (13,573,000)
Net income (loss) $ 10,992,000 $ (16,887,000)
Income (loss) per share:    
Net income (loss) per share from continuing operations, basic $ 1.14 $ (1.25)
Net income (loss) per share from continuing operations, diluted 1.14 (1.25)
Net income (loss) per share from discontinued operations, basic 2.35 (5.11)
Net income (loss) per share from discontinued operations, diluted 2.35 (5.11)
Net income (loss) per share, basic 3.49 (6.35)
Net income (loss) per share, diluted $ 3.49 $ (6.35)
Weighted average common shares outstanding:    
Basic 3,150,230 2,658,686
Diluted 3,150,230 2,658,686
Net income (loss) $ 10,992,000 $ (16,887,000)
Other comprehensive loss, net of tax    
Effect of foreign currency translation adjustments (4,000) (29,000)
Total other comprehensive loss, net of tax (4,000) (29,000)
Comprehensive income (loss) 10,988,000 (16,916,000)
Continuing Operations    
Operating expenses:    
Operating loss (4,171,000) (3,221,000)
Other income (expense):    
Income tax (benefit) provision 6,700,000  
Net income (loss) from continuing operations 3,589,000 (3,314,000)
Discontinued Operations    
Revenues 0 0
Gross profit 0 0
Operating expenses:    
Selling, general and administrative expenses 10,000 3,764,000
Total Operating Expenses (9,418,000) 13,550,000
Operating loss 9,418,000 (13,550,000)
Other income (expense):    
Gain on debt settlement 0 73,000
Interest expense, net 0 0
Other income, net 144,000 (96,000)
Total other income, net 144,000 (23,000)
Income tax (benefit) provision 2,200,000 0
Income tax provision for discontinued operations 2,159,000 0
Income (loss) from discontinued operations $ 9,562,000 $ (13,573,000)