Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Stockholders' Equity

v3.22.4
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, value at Sep. 27, 2020 $ 9 $ (200) $ 26,276 $ (12,109) $ 13,976
Beginning 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 [1] $ (869) (869)
Common Stock Repurchase, shares [1]   449,088      
Exercise of Warrants [2] 292 292
Exercise of Warrants, shares [2] 188,809        
Common Stock Purchase and Cancellation
Common Stock Purchase and Cancellation, shares (100)        
Cancellation of Treasury Shares [1] $ 1,000 (1,000)
Cancellation of Treasury Shares, shares [1] (519,266) (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      
Stock Compensation Expense 162 162
Vested restricted stock units issued net of tax withholding (19) (19)
Vested restricted stock units issued net of tax withholding, shares 23,216        
Common Stock Repurchase [1] $ (371) (371)
Common Stock Repurchase, shares [1]   190,954      
Cancellation of Treasury Shares [1] $ 440 (440)
Cancellation of Treasury Shares, shares [1] (226,509) (226,509)      
Net income 1,283 1,283
Tender Offer Stock Repurchase and Cancellation [3] $ (2) (4,359) (4,361)
Tender Offer Stock Repurchase and Cancellation, shares [3] (1,603,773)        
Ending balance, value at Oct. 02, 2022 $ 7 $ 21,096 $ (8,695) $ 12,408
Ending balance, shares at Oct. 02, 2022 6,716,638      
[1] Common shares repurchased in the open market during the twelve months ended October 3, 2021 and October 2, 2022. Shares were held in treasury using the cost method. As of October 3, 2021, there were 35,555 shares held in treasury at a cost of $69 thousand. As of October 2, 2022, all of the treasury shares have been cancelled.
[2] 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.
[3] Common shares repurchased pursuant to the tender offer that closed on September 15, 2022. Total tendered shares of 1,603,773 at $2.65, or $4.25 million, plus transaction costs of $111 thousand. Repurchased shares were immediately cancelled.