Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.4.0.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Mar. 27, 2016
Mar. 29, 2015
Cash flows from operating activities:    
Net (loss) income $ (556,000) $ 813,000
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:    
Depreciation and amortization 172,000 158,000
Noncash interest expense (12,000) 143,000
Stock compensation expense $ 48,000 91,000
(Increase) decrease of intangible assets (171,000)
(Increase) decrease in accounts receivable $ 1,209,000 (1,018,000)
(Increase) decrease in inventory (net of progress billed) (1,484,000) (389,000)
(Increase) decrease in prepaid expenses $ 49,000 (15,000)
(Increase) decrease in security deposits (1,000)
Increase (decrease) in accounts payable and accrued expenses $ 843,000 441,000
Increase (decrease) in accrued warranty costs 3,000
Increase (decrease) in customer advance deposits $ (332,000) (582,000)
Total adjustments 493,000 (1,340,000)
Net cash used in operating activities (63,000) (527,000)
Cash flows from investing activities    
Purchases of property and equipment (19,000) (2,094,000)
Decrease in prepaid royalties - long term 15,000 15,000
Net cash used in investing activities $ (4,000) (2,079,000)
Cash flows from financing activities    
Proceeds from convertible notes issued 1,560,000
Debt issuance fees (74,000)
Proceeds (to) from credit facility (net) $ (20,000) 550,000
Net cash (used in) provided by financing activities (20,000) 2,036,000
Net (decrease) in cash (87,000) (570,000)
Cash at beginning of period 683,000 1,685,000
Cash at end of period 596,000 1,115,000
Supplemental cash flow information:    
Cash paid for interest 28,000 $ 10,000
Exchange of preferred stock for common stock $ 3,165,000
6% Series A Preferred Stock [Member]    
Supplemental cash flow information:    
Beneficial conversion feature on preferred stock $ 1,554,000
Series B Preferred Stock [Member]    
Supplemental cash flow information:    
Exchange of convertible note and accrued interest to series B preferred stock 1,629,000
Beneficial conversion feature on preferred stock $ 4,887,000