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RELATED PARTY TRANSACTIONS

6 Months Ended

Jul. 01, 2017

Related Party Transactions [Abstract]

Summary of Investments, Other than Investments in Related Parties [Text Block]

RELATED PARTY TRANSACTIONS

The Company may from time to time enter into agreements with shareholders, affiliates and other companies engaged in certain aspects of the display, electronics, optical and software industries as part of our business strategy. In addition, the wearable computing product market is relatively new and there may be other technologies we need to purchase from affiliates in order to enhance our product offering. Kopin and Goertek, a 10.1% shareholder of the Company, have entered into agreements to jointly develop and commercialize a range of technologies and wearable products. These include: a mutual exclusive supply and manufacturing arrangement for certain displays products for twenty four months after mass production begins; an agreement that provides the Company with the right of first refusal to invest in certain manufacturing capacity for certain products with Goertek; an agreement whereby Goertek will provide system level original equipment manufacturing services for Kopin's wearable products; an arrangement whereby the Company will supply display modules for Goertek's virtual reality and augmented reality products; and other agreements related to promotion around certain products as well as providing designs relating to head mounted displays.

During the three and six month periods ended July 1, 2017, the Company had the following transactions with related parties:

	Three Months Ended								Six Months Ended
	July 1, 2017								July 1, 2017
	Sales				Purchases				Sales				Purchases
Goertek	$	—			$	173,925			$	—			$	182,925

At July 1, 2017, the Company had the following receivables and payables with related parties:

	Receivables				Payables
Goertek	$	—			$	152,220

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- References

No definition available.

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- Definition

The entire disclosure for the schedule applicable to insurance companies summarizing investments held as of the most recent audited balance sheet. At a minimum, such summary is by three major categories of investments including: (1) fixed maturities primarily consisting of bonds, including convertibles and bonds with warrants, and redeemable preferred stocks, (2) equity securities primarily consisting of common stocks and nonredeemable preferred stocks, and (3) other investments including mortgage loans on real estate, real estate held for investment, real estate acquired in satisfaction of debt, policy loans, other long-term investments, and short-term investments not otherwise categorized. The information provided with respect to each item within each category includes: (A) the original cost of equity securities and, as to fixed maturity securities, original cost reduced by repayments and adjusted for amortization of premiums or accrual of discounts, (B) fair value as of the reporting date, and (C) the amount at which the item within each category is shown in the statement of financial position; with respect to (C), if the amount at which shown in the statement of financial position is different from the items original [amortized] cost or fair value, an explanation of the difference may be included herein.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=4738149

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 325
-URI http://asc.fasb.org/subtopic&trid=4738175

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