Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Sep. 27, 2015
Sep. 28, 2014
Cash flows from operating activities:    
Net income (loss) $ 491 $ (2,062)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:    
Depreciation and amortization 334 80
Noncash interest expense 154 5
Provision for inventory valuation 247 114
(Increase) decrease in deferred tax asset (net of valuation allowance)   1,077
Stock option compensation expense 140 105
(Increase) decrease in accounts receivable (2,135) 2,387
(Increase) decrease in inventory (net of progress billed) (49) 1,555
(Increase) decrease in prepaid expenses (130) (10)
(Increase) decrease in security deposits 3  
Increase (decrease) in accounts payable and accrued expenses 622 (930)
Increase (decrease) in accrued warranty costs 3  
Increase (decrease) in customer advance deposits (898) (650)
Total adjustments (1,709) 3,733
Net cash (used in) provided by operating activities (1,218) 1,671
Cash flows from investing activities    
Purchases of property and equipment (2,100) (40)
Decrease in prepaid royalties - long term 30 30
Net cash (used in) investing activities (2,070) (10)
Cash flows from financing activities    
Proceeds from convertible notes issued 1,560  
Debt issuance fees (74)  
Proceeds (to) from credit facility (net) 800 (858)
Net cash provided by (used in) financing activities 2,286 (858)
Net increase (decrease) in cash (1,002) 803
Cash at beginning of period 1,685 882
Cash at end of period 683 1,685
Supplemental cash flow information:    
Cash paid for interest 25 8
Exchange of convertible note and accrued interest to series B preferred stock 1,629  
Beneficial Conversion Feature on series B preferred stock 4,887  
Beneficial Conversion Feature on series A preferred stock 1,554  
Exchange of preferred stock for common stock $ 10 $ 100