Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Stockholders' Equity

v3.7.0.1
Consolidated Statement of Stockholders' Equity - USD ($)
$ in Thousands
Common Stock [Member]
Additional Paid in Capital [Member]
Retained Earnings [Member]
6% Series A Preferred Stock [Member]
Series B Preferred Stock [Member]
Preferred Stock Series C [Member]
Total
Balance at beginning at Sep. 28, 2014 $ 18,184 [1] $ (12,286) [1]   $ 5,898 [1]
Balance at beginning (in shares) at Sep. 28, 2014 [1] 310,867     1,001  
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Stock Compensation Expense 140 140
Preferred Series B Issued in Exchange of Convertible Notes 1,629 1,629
Preferred Series B Issued in Exchange of Convertible Notes (in shares)     1,000 [2]  
Conversion of Preferred Series B
Conversion of Preferred Series B (in shares) [3] 4,000     (6)  
Beneficial Conversion Feature on Preferred Stock - Dividend/Premium 6,441 (6,441)
Net Income (Loss) 491 491
Balance at end at Sep. 27, 2015 26,394 (18,236) 8,158
Balance at end (in shares) at Sep. 27, 2015 314,867 [3]     1,001 [1] 994 [1] [1]  
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Stock Compensation Expense 192 192
Issue of Shares - DTC/CEDE fractional roundup correction for reverse split 12/8/15
Issue of Shares - DTC/CEDE fractional roundup correction for reverse split 12/8/15 (in shares) 247 [4]   [4] [4] [4]  
Conversion of Preferred Series B (10/23/15)
Conversion of Preferred Series B (10/23/15) (in shares) 16,031 [5]   [5] (25) [5] [5]  
Conversion of Preferred Series A (3/27/16) $ 2 $ (2)
Conversion of Preferred Series A (3/27/16) (in shares) 1,250,000 [6],[7]   (456) [6],[7] [6],[7] [6],[7]  
Conversion of Preferred Series B (7/6/16)
Conversion of Preferred Series B (7/6/16) (in shares) 109,291 [8]   [8] (167) [8] [8]  
Conversion of Preferred Series A (8/10/16)
Conversion of Preferred Series A (8/10/16) (in shares) 25,000 [9]   (9) [9]   [9]  
Issue of Common Shares for Investor Relations        
Issue of Common Shares for Investor Relations (in shares) [10] 40,000            
Issuance of Common Stock 8/26/2016 $ 2 4,748   4,750
Issuance of Common Stock 8/26/2016 (in shares) [11] 2,291,900     400  
Fees on Share Offering paid by Optex (45) (45)
Redemption of Series A & Series B Preferred Shares 8/26/2016 $ (1,751)   (1,751)
Redemption of Series A & Series B Preferred Shares 8/26/2016 (in shares) [12]   (66) [12] (796) [12]    
Conversion of Series A & Series B Preferred Shares 8/26/2016 $ 3 $ (3)  
Conversion of Series A & Series B Preferred Shares 8/26/2016 (in shares) 2,698,431 [13]   (470) [13] (6) [13]    
Conversions of Series C Preferred Shares  
Conversions of Series C Preferred Shares (in shares) [14] 166,667     (40)  
Ratchet on Preferred Series A 3/27/16 Conversion (10/18/16) $ 1 $ (1)  
Ratchet on Preferred Series A 3/27/16 Conversion (10/18/16) (in shares) 1,354,167 [6],[7]   [6],[14] [6],[14]    
Beneficial Conversion Feature on Preferred Stock - Dividend/Premium $ 1,203 (1,203)
Net Income (Loss) (208)   (208) [15]
Balance at end at Oct. 02, 2016 $ 8 $ 26,879 $ (19,647) [15] [15] [15] $ 7,240 [15]
Balance at end (in shares) at Oct. 02, 2016 8,266,601     360  
[1] Reverse split effective on October 7, 2015 of 1000:1 shares, inclusive of round up lot quantity of 139,953 shares for holders of less than 100,000 shares, pre-split. Holders of less than 100,000 shares were rounded up to whole lots of 100 post split.
[2] On June 28, 2015, the holders of the Company's $1,560,000 principal amount of convertible promissory notes, issued on or about November 17, 2014, converted the entire principal amount thereof and all accrued and unpaid interest thereon, into 1,000 shares of the Company's Series B Preferred Stock.
[3] On May 27, 2015 a private investor converted $10 thousand, or 6 shares of the Series B preferred stock at a stated value of $1,629 per share, for 4,000 shares of common stock
[4] On December 7, 2015, 247 common shares issued to certain beneficial holders to correct Depository Trust and Clearing Corporation (DTC) rounding errors occurring from the October 7, 2015 reverse split
[5] On October 23, 2015 a private investor converted $40 thousand, or 25 shares of the Series B preferred stock at a stated value of $1,629 per share, for 16,031 shares of common stock.
[6] On March 27, 2016, Sileas Corporation converted $3,125 thousand or 456 shares of the Series A preferred stock at a stated value of $6,860 per share, for 1,250,000 shares of common stock.
[7] Pursuant to a board of directors meeting held on August 4, 2016, 1,354,167 additional shares of common stock were issued to Sileas Corporation as a result of a downward price adjustment on the conversion rate of Series A preferred shares which was triggered by the August 26, 2016 public offering. The conversion price adjustment applied to 456 Series A preferred shares which had been previously converted on March 27, 2016. The conversion price was reset to the public offering price $1.20 per common share from the prior conversion price of $2.50 per common share. As a result of the adjustment the additional common shares were issued on October 18, 2016 and retroactively included in the ending outstanding shares as of October 2, 2016.
[8] On July 6, 2016 a private investor converted $273 thousand, or 167 shares of the Series B preferred stock at a stated value of $1,629 per share, for 109,291 shares of common stock.
[9] On August 10, 2016, a private investor converted $62.5 thousand, or 9 shares, of the Series A preferred stock at a stated value of $6860 per share for 25,000 shares of common stock.
[10] On April 29, 2016, Optex Systems Holdings, Inc. issued 40,000 common "restricted" shares at a market price of $2.35 per share ($94 thousand) in support of the IRTH Communications agreement (See note 12).
[11] On August 26, 2016, we consummated a public offering of 2,291,000 Class A units consisting of common stock and warrants and 400 Class B units consisting of shares of Series C convertible stock and warrants for a total gross purchase price of $4,750,280. The offering is comprised of Class A Units, priced at a public offering price of $1.20 per unit, with each unit consisting of one share of common stock and one five-year warrant to purchase one share of common stock with an exercise price of $1.50 per share (each, a "warrant"), and Class B Units, priced at a public offering price of $5,000 per unit, with each unit comprised of one share of preferred stock with a conversion price of $1.20 which is convertible into 4,167 shares of common stock and warrants to purchase 4,167 shares of common stock. The securities comprising the units are immediately separable and will be issued separately.
[12] On August 26, 2016, 66 Series A and 796 preferred shares were redeemed for $1.75 million, as a condition of the offering.
[13] On August 26, 2016, 470 shares of Series A preferred stock at a stated value of $6,860 were converted for 2,689,729 shares of common stock and 6 shares of Series B preferred stock at a stated value of $1,629 were converted for 8,702 shares of common stock, for a total of 2,698,431 shares of common stock based on a conversion price of $1.20 per share, as a condition of the offering.
[14] On August 26, 2016, 28 shares of Series C preferred stock, and on August 29, 2016 12 shares of Series C preferred stock were converted at a stated value of $5000 per share, for a total value of $200 thousand, into 166,667 common shares at a per share conversion price of $1.20.
[15] Restated