Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2022
Jan. 01, 2022
OPERATING ACTIVITIES:    
Net income (loss) $ 10,992,000 $ (16,887,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 557,000 4,192,000
Amortization of debt issuance costs 31,000 9,000
Gain on Payroll Protection Program loan forgiveness 0 (1,872,000)
Accretion of note receivable discount (387,000) 0
Stock based compensation expense 5,000 303,000
Gain on reversal of contingency loss (637,000) 0
Impairment charges 0 9,786,000
Gain on sale of GeoTraq (9,428,000) 0
Unrealized loss on marketable securities 631,000 0
Gain on settlement of vendor advance payments 0 (952,000)
Amortization of right-of-use assets 55,000 (24,000)
Change in deferred income taxes (4,589,000) 0
Gain on sale of property 0 0
Loss on litigation settlement 1,009,000 0
Changes in assets and liabilities:    
Accounts receivable (3,702,000) (620,000)
Inventories 738,000 421,000
Prepaid expenses and other current assets 653,000 (287,000)
Income taxes receivable 0 196,000
Other assets 1,281,000 (1,399,000)
Accounts payable and accrued expenses (265,000) 1,842,000
Net cash used in operating activities (3,056,000) (5,292,000)
INVESTING ACTIVITIES:    
Purchases of property and equipment (808,000) (1,659,000)
Proceeds from the sale of property and equipment 0 3,000
Purchase of intangible assets (701,000) (65,000)
Net cash used in investing activities (1,509,000) (1,721,000)
FINANCING ACTIVITIES:    
Proceeds from note payable 16,837,000 1,835,000
Payment on related party note (162,000) 0
Proceeds from issuance of short term notes payable 708,000 795,000
Payments on short term notes payable (722,000) (651,000)
Proceeds from equity financing, net 0 5,544,000
Payments on notes payable (12,682,000) (182,000)
Proceeds from stock option exercise 0 27,000
Net cash provided by financing activities 3,979,000 7,368,000
Effect of changes in exchange rate on cash and cash equivalents (4,000) (29,000)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (590,000) 326,000
CASH AND CASH EQUIVALENTS, beginning of period 705,000 379,000
CASH AND CASH EQUIVALENTS, end of period 115,000 705,000
Supplemental cash flow disclosures:    
Noncash recognition of new leases 4,000,000 1,700,000
Interest paid 407,000 475,000
Income taxes paid, net $ 108,000 $ 40,000