Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Stockholders' Equity

v3.22.0.1
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, value at Sep. 29, 2019 $ 8 $ 26,134 $ (13,934) $ 12,208
Beginning 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 (1) [1] $ 1 (1)
Restricted Board Shares Issued, shares [1] 300,000        
Common Stock Repurchase (2) [2] $ (200) (200)
Common Stock Repurchase, shares [2]   105,733      
Net income 1,825 1,825
Ending balance, value at Sep. 27, 2020 $ 9 $ (200) 26,276 (12,109) 13,976
Ending balance, shares at Sep. 27, 2020 8,795,869 105,733      
Stock Compensation Expense 228 228
Vested restricted stock units issued net of tax withholding (44) (44)
Vested restricted stock units issued net of tax withholding, shares 58,392        
Common Stock Repurchase (2) [2] $ (869) (869)
Common Stock Repurchase, shares [2]   449,088      
Exercise of Warrants (3) [3] 292 292
Exercise of Warrants, shares [3] 188,809        
Common Stock Purchase and Cancellation
Common Stock Purchase and Cancellation, shares (100)        
Cancellation of Treasury Shares (2) [2] $ 1,000 (1,000)
Cancellation of Treasury Shares, shares (519,266) [2] (519,266) [2]     519,266
Net income 2,131 $ 2,131
Ending balance, value at Oct. 03, 2021 $ 9 $ (69) $ 25,752 $ (9,978) $ 15,714
Ending balance, shares at Oct. 03, 2021 8,523,704 35,555      
[1] 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. As of October 3, 2021, 60,000 of the director shares were vested, and 240,000 were unvested.
[2] Common shares repurchased in the open market between June 11, 2020 and October 3, 2021. On June 14, 2021, 519,266 of the repurchased shares were cancelled, and as of October 3, 2021, 35,555 shares were held in treasury stock using the cost method.
[3] Exercise of warrants for common shares at $1.50 for gross proceeds of $283 thousand and a fair market value of $9 thousand as of the exercise dates.