Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Oct. 01, 2017
Oct. 02, 2016
Cash flows from operating activities:    
Net loss $ (304) $ (208)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 337 345
Loss (gain) on change in fair value of warrants 489 (739)
Noncash interest expense (17)
Stock compensation expense [1] 220 192
(Use of) provision for inventory valuation (34) 60
(Gain) loss on sale of fixed assets (38) 5
(Increase) decrease in accounts receivable (1,185) 771
Increase in inventory (net of progress billed) (1,366) (562)
Decrease in prepaid expenses 57 51
Increase in accounts payable and accrued expenses 1,296 130
Increase in accrued warranty costs 146
Decrease in prepaid royalties - long term 30 30
Increase (decrease) in customer advance deposits 368 (597)
Total adjustments 320 (331)
Net cash provided by (used in) operating activities 16 (539)
Cash flows (to) from investing activities    
Purchases of property and equipment (149) (34)
Proceeds from sale of fixed assets 41 4
Net cash used in investing activities (108) (30)
Cash flows from (to) financing activities    
Dividends paid (261)
Net proceeds from sale of common stock 4,750
Redemption of preferred stock (1,751)
Deferred public offering costs (45)
Cash paid for taxes withheld on net settled restricted stock unit share issue (15)
Proceeds (to) credit facility (net) (500)
Proceeds (to) stock repurchase (518)
Net cash (used in) provided by financing activities (794) 2,454
Net (decrease) increase in cash and cash equivalents (886) 1,885
Cash and cash equivalents at beginning of period 2,568 683
Cash and cash equivalents at end of period 1,682 2,568
Supplemental cash flow information:    
Exchange of common stock for non-trade accounts receivable 155
Exchange of preferred stock for common stock 930 6,939
Beneficial conversion features on preferred stock 1,203
Fair value of warrants issued for underwriter expenses in public offering 156
Dividends declared and unpaid 261
Cash paid for interest $ 19 $ 53
[1] General and administrative expenses for the twelve months ending October 2, 2016 of $140 thousand, associated with amortized stock compensation attributeable to executive/director restricted stock units has been restated from Optex Richardson to Other non allocated costs. Operating income (loss) for Optex Richardson and Other non allocated has been restated to reflect the change.