Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Oct. 02, 2022
Oct. 03, 2021
ASSETS    
Cash and Cash Equivalents $ 934 $ 3,900
Accounts Receivable, Net 2,908 3,183
Inventory, Net 9,212 7,583
Prepaid Expenses 328 262
Current Assets 13,382 14,928
Property and Equipment, Net 968 1,017
Other Assets    
Deferred Tax Asset 942 1,288
Right-of-use Asset 3,222 [1] 3,599
Security Deposits 23 23
Other Assets 4,187 4,910
Total Assets 18,537 20,855
Current Liabilities    
Accounts Payable 706 551
Operating Lease Liability 604 528
Federal Income Taxes Payable 331
Accrued Expenses 958 800 [2]
Accrued Warranty Costs 169 78
Contract Loss Reserves 289 51
Customer Advance Deposits 311
Current Liabilities 3,368 2,008
Other Liabilities    
Operating Lease Liability, net of current portion 2,761 3,133
Other Liabilities 2,761 3,133
Total Liabilities 6,129 5,141
Commitments and Contingencies  
Stockholders’ Equity    
Common Stock – ($0.001 par, 2,000,000,000 authorized, 6,716,638 and 8,523,704 shares issued, and 6,716,638 and 8,488,149 shares outstanding, respectively) 7 9
Treasury Stock (at cost, zero and 35,555 shares held, respectively)   (69)
Additional Paid in capital 21,096 25,752
Accumulated Deficit (8,695) (9,978)
Stockholders’ Equity 12,408 15,714
Total Liabilities and Stockholders’ Equity $ 18,537 $ 20,855
[1] Short-term and Long-term portion of Operating Lease Liability is $604 thousand and $2,761 thousand, respectively.
[2] Accrued Expenses at October 3, 2021, previously included $51 thousand in Contract Loss Reserves which has been presented as a separate balance sheet component as of the year ended October 2, 2022. See also Note 2 “Contract Loss Reserves”.