Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

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Income Taxes (Tables)
 12 Months Ended
Dec. 30, 2023
Income Tax Disclosure [Abstract]  
Schedule of Benefit of Income Taxes
For fiscal years ended December 30, 2023, and December 31, 2022, the Company recorded an income tax benefit from continuing operations of approximately $429,000 and an income tax benefit of $6.6 million, respectively, and an income tax provision from discontinued operations of approximately $971,000 and $2.1 million, respectively, which consisted of the following (in $000’s):
Fiscal Years Ended
December 30, 2023 December 31, 2022
Current tax expense:
State $ —  $ 32 
Federal 97  45 
Current tax expense 97  77 
Deferred tax provision (benefit) - domestic 445  (4,589)
Total provision (benefit) of income taxes $ 542  $ (4,512)
Schedule of Reconciliation of Our Benefit of Income Taxes with the Federal Statutory Tax Rate
A reconciliation of the Company's income tax benefit (provision) with the federal statutory tax rate for the fiscal years ended December 30, 2023, and December 31, 2022, respectively, is shown below:
Fiscal Years Ended
December 30, 2023 December 31, 2022
U.S. statutory rate 21.0  % 21.0  %
Federal income tax for installment sale —  % 0.6  %
State tax rate 1.5  % 5.5  %
Foreign rate differential 0.5  % -0.2  %
Permanent differences -0.1  % 0.4  %
Change in tax rates —  % 2.8  %
Impact of sale of ARCA Recycling and Canada -4.4  % —  %
Change in valuation allowance -25.7  % -96.4  %
Other -0.1  % 0.4  %
-7.3  % -65.9  %
Schedule of Loss Before Benefit of Income Taxes
Income (loss) before provision of income taxes was derived from the following sources for fiscal years December 30, 2023 and December 31, 2022, respectively, as shown below (in $000’s):
Fiscal Years Ended
December 30, 2023 December 31, 2022
United States $ (6,613) $ 6,717 
Canada (657) (237)
Total $ (7,270) $ 6,480 
Schedule of Deferred Tax Assets and Liabilities
The components of net deferred tax assets (liabilities) as of December 30, 2023 and December 31, 2022, respectively, are as follows (in $000’s):
December 30, 2023 December 31, 2022
Deferred tax assets (liabilities):
Accrued expenses 7  1,723 
Accrued compensation 3  82 
Section 174 expenses 61  92 
Prepaid expenses (16) (184)
Net operating loss 5,360  5,494 
Lease liability —  39 
Tax credits 3  3 
Share-based compensation 136  171 
Intangibles (3,747) (4,782)
Property and equipment —  (483)
Installment sale —  (2,114)
Unrealized losses 327  305 
Section 163(j) interest —  363 
2,134  709 
Less: valuation allowance (2,773) (904)
Net deferred tax assets (liabilities) $ (639) $ (195)