Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Stockholders' Equity

v3.20.4
Consolidated Statement of Stockholders' Equity - USD ($)
$ in Thousands
Common Stock [Member]
Treasury Stock [Member]
Additional Paid in Capital [Member]
Retained Earnings [Member]
Total
Beginning balance at Sep. 30, 2018 $ 8 $ 25,938 $ (19,602) $ 6,344
Beginning balance, shares at Sep. 30, 2018 8,333,353      
Stock Compensation Expense 113 113
Vested restricted stock units issued net of tax withholding (37) (37)
Vested restricted stock units issued net of tax withholding, shares 55,565      
Exercise of Warrants for Common Shares at $1.50 [1] 120 120
Exercise of Warrants for Common Shares at $1.50, shares [1] 47,504      
Net income 5,668 5,668
Ending balance at Sep. 29, 2019 $ 8 26,134 (13,934) 12,208
Ending balance, shares at Sep. 29, 2019 8,436,422      
Stock Compensation Expense 197 197
Vested restricted stock units issued net of tax withholding (54) (54)
Vested restricted stock units issued net of tax withholding, shares 59,447      
Restricted Board Shares Issued [2] $ 1 (1)
Restricted Board Shares Issued, shares [2] 300,000      
Common Stock Repurchase [3] $ (200) (200)
Common Stock Repurchase, shares [3] 105,733      
Net income 1,825 1,825
Ending balance at Sep. 27, 2020 $ 9 $ (200) $ 26,276 $ (12,109) $ 13,976
Ending balance, shares at Sep. 27, 2020 8,795,869 105,733      
[1] Exercise of warrants for gross proceeds of $72 thousand and a warrant liability fair market value of $48 thousand as of the exercise date.
[2] 100,000 restricted common shares issued to each of the Independent Board of Directors (Rimmy Malhotra, Dale Lehman, Larry Hagenbuch) on April 30, 2020 with 20% vesting as of each January 1 each year over a five-year period. The value of the shares at issue date is $525,000 for 300,000 shares to be amortized over the vesting period.
[3] Common shares repurchased in the open market between June 11, 2020 and September 27, 2020 for $200 thousand and held in treasury stock using the cost method.