<SEC-DOCUMENT>0001157523-17-002313.txt : 20170808
<SEC-HEADER>0001157523-17-002313.hdr.sgml : 20170808
<ACCEPTANCE-DATETIME>20170808073013
ACCESSION NUMBER:		0001157523-17-002313
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170808
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170808
DATE AS OF CHANGE:		20170808

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KOPIN CORP
		CENTRAL INDEX KEY:			0000771266
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				042833935
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19882
		FILM NUMBER:		171013238

	BUSINESS ADDRESS:	
		STREET 1:		125 NORTH DRIVE
		CITY:			WESTBOROUGH
		STATE:			MA
		ZIP:			01581
		BUSINESS PHONE:		508-870-5959

	MAIL ADDRESS:	
		STREET 1:		125 NORTH DRIVE
		CITY:			WESTBOROUGH
		STATE:			MA
		ZIP:			01581
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51665768.htm
<DESCRIPTION>KOPIN CORPORATION 8-K
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<p style="TEXT-ALIGN: center"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 17pt"><b>UNITED STATES</b></font><b><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 17pt"><br style="FONT-FAMILY: Times New Roman; FONT-SIZE: 17pt">
</font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 17pt">SECURITIES AND EXCHANGE COMMISSION</font></b><br>
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 11pt"><b>WASHINGTON, D.C. 20549</b></font><br>
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<p style="TEXT-ALIGN: center"><font style="FONT-SIZE: 18pt"><b>FORM 8-K</b></font><br>
<br>
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<p style="TEXT-ALIGN: center"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><b>CURRENT REPORT</b></font><b style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"> </b><br>
<br>
<b>Pursuant to Section 13 or 15(d) of the</b><br>
<b>Securities Exchange Act of 1934</b> </p>

<p style="TEXT-ALIGN: center"><b>Date of Report (Date of Earliest Event Reported) August 8, 2017 </b><br>
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<p style="TEXT-ALIGN: center"><font style="FONT-SIZE: 24pt"><b>KOPIN CORPORATION</b></font><br>
<b>(Exact Name of Registrant as Specified in Charter)</b><br>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><b>DELAWARE</b> </p>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><b>000-19882</b> </p>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><b>04-2833935</b> </p>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><b>(State or Other Jurisdiction</b> </p>

<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><b>of Incorporation)</b> </p>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><b>(Commission</b> </p>

<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><b>File Number)</b> </p>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><b>(IRS Employer</b> </p>

<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><b>Identification No.)</b> </p>
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<p style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt"><b>125 North Drive, Westborough, MA 01581</b></font><font style="FONT-SIZE: 10pt"><br style="FONT-SIZE: 10pt">
</font><font style="FONT-SIZE: 10pt"><b>(Address of Principal Executive Offices) (Zip Code)</b></font> </p>

<p style="TEXT-ALIGN: center"><b>Registrant&#8217;s telephone number, including area code <u>(508) 870-5959</u> </b><br>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px">(Former name or former address, if changed since last report.) </p>
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<p><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions </font>(see General Instruction A.2 below): </p>

<p><font style="FONT-FAMILY: Arial Unicode MS; FONT-SIZE: 12pt">&#8414;</font> <font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font> </p>

<p><font style="FONT-FAMILY: Arial Unicode MS; FONT-SIZE: 12pt">&#8414;</font> <font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font> </p>

<p><font style="FONT-FAMILY: Arial Unicode MS; FONT-SIZE: 12pt">&#8414;</font> <font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font> </p>

<p><font style="FONT-FAMILY: Arial Unicode MS; FONT-SIZE: 12pt">&#8414;</font> <font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font> </p>

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<p><b>Item 2.02. <u>Results of Operations and Financial Condition</u>.</b> </p>

<p style="TEXT-INDENT: 30px; FONT-SIZE: 10pt">Kopin Corporation issued a press release on August 8, 2017, a copy of which is attached as Exhibit 99.1 to this report and incorporated herein by this reference, in which the Company announced financial results for the second quarter ended July 1, 2017. This information in this Item 2.02 (including Exhibit 99.1) shall not be deemed to be &#8220;filed&#8221; for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), and shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. </p>

<p><b>Item 9.01. <u>Financial Statements and Exhibits</u>.</b> </p>

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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><u><b>Exhibits.</b></u> </p>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px">99.1 </p>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px">Press Release dated August 8, 2017, entitled, &#8220;KOPIN PROVIDES BUSINESS UPDATE AND SECOND QUARTER 2017 OPERATING RESULTS&#8221;. </p>
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<p style="TEXT-ALIGN: center"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><b>SIGNATURES</b></font> </p>

<p><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font> </p>

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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px">KOPIN CORPORATION </p>
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<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 0px; WIDTH: 6%" valign="top">Date: </td>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px">August 8, 2017 </p>
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<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 0px; WIDTH: 4%" valign="top">By: </td>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px">/s/ Richard A. Sneider </p>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px">Richard A. Sneider </p>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px">Treasurer and Chief Financial Officer </p>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px">(Principal Financial and Accounting Officer) </p>
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<p style="TEXT-ALIGN: center"><b>EXHIBIT INDEX</b> </p>

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<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px; WIDTH: 84%" valign="bottom">Description </td>
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<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; WIDTH: 15%; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="top">99.1 </td>
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<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px">Press Release dated August 8, 2017, entitled, &#8220;KOPIN PROVIDES BUSINESS UPDATE AND SECOND QUARTER 2017 OPERATING RESULTS&#8221;. </p>
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<TYPE>EX-99.1
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<DESCRIPTION>EXHIBIT 99.1
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<p style="TEXT-ALIGN: right; FONT-WEIGHT: bold">Exhibit 99.1</p>

<p style="TEXT-ALIGN: center"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><b>Kopin Provides Business Update and Second</b></font><b><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"> </font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Quarter 2017 Operating Results</font></b> </p>

<ul>
<li style="MARGIN-BOTTOM: 10px"><i style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><b>2Q Revenues of $5.9M, 36% higher than 2Q 2016</b></i> </li>

<li style="MARGIN-BOTTOM: 10px"><i style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><b>Expect 70% Revenue Growth in Second Half of 2017</b></i> </li>

<li style="MARGIN-BOTTOM: 10px"><i style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><b>Five New Headsets with Key Kopin Components to be Introduced in 2H 2017 </b></i> </li>

<li style="MARGIN-BOTTOM: 10px"><i style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><b>All Four Military Programs Ramping</b></i> </li>

<li style="MARGIN-BOTTOM: 10px"><i style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><b>Revenue Growth Momentum Accelerating </b></i></li>
</ul>

<p>WESTBOROUGH, Mass.--(BUSINESS WIRE)--August 8, 2017--Kopin Corporation&#160;(NASDAQ: KOPN), a leading developer of innovative wearable computing technologies and solutions, today provided an update on its business initiatives and reported financial results for the second quarter of 2017, ended July 1, 2017. </p>

<p>&#8220;We made very good progress in many areas in the second quarter, and we are actively working with multiple tier-one customers,&#8221; said Dr. John CC Fan, CEO of Kopin. &#8220;We believe the commercial AR/VR opportunities are beginning to materialize. We have experienced very strong interest for our 2k x 2k Lightning<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">TM</sup> OLED displays and related optics, and we have made great progress in production readiness of our Lightning OLED displays with our foundry partners BOE and OliGHTEK. In addition, the recent announcements by Google about its second-generation Glass intended for industrial applications has furthered the momentum of AR headsets. Kopin&#8217;s displays and optic products are designed for these rugged applications. </p>

<p>&#8220;We also had a solid quarter in our military business. The four major production programs in our military business, including the F-35 pilot helmets, the Family of Weapon Sights Programs (Individual and Crew), and our VR optical system for armor vehicle simulation and training headsets, are all ramping and should have a very significant impact on our revenues in the second half of 2017 and in 2018. </p>

<p>&#8220;In our consumer segment, we have completed shipment of the first generation of SOLOS<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">TM</sup>, our health and fitness AR glasses. The initial customers have been passionate about SOLOS and we have received excellent feedback from them. We expect to have the second generation of SOLOS on sale by the end of 2017. </p>

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<p>&#8220;Finally we are making very good progress in our Whisper<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">TM</sup> audio technology. In the second half of the year we expect to see the introduction of five new AR/VR headsets, of which two are Kopin systems and three are customer products. Of the five, four will feature our Whisper chip. In addition, we have made great progress in extending our Whisper technology from near-field to far-field applications. Early tests have shown the far field use matches the superior advantages in noise cancellation, voice quality, and speech recognition achieved in the near field application. </p>

<p>&#8220;On the strength of these new products and our current programs, we are optimistic about the revenue growth for the balance of the year and beyond. We anticipate revenues in the second half of 2017 will increase by approximately 70% as compared to the first half of 2017. Careful deployment of our financial resources, as always, remains a key priority. We ended the quarter with $85 million in cash and no debt, providing sufficient capital to monetize and commercialize our investments. </p>

<p>&#8220;In summary, we have successfully completed the first phase of technology and product development. We are now entering the harvesting and growth phase, and we are actively increasing sales and marketing efforts. All the cylinders are now working,&#8221; concluded Dr. Fan. </p>

<p><b>Second Quarter Financial Results</b> </p>

<p>Total revenues for the second quarter ended July 1, 2017 were $5.9 million, compared with $4.4 million for the second quarter ended June 25, 2016. </p>

<p>Research and development (R&amp;D) expenses for the second quarter of 2017 were $4.7 million compared to $4.1 million for the second quarter of 2016. </p>

<p>Selling, general and administrative (SG&amp;A) expenses were $5.2 million for the second quarter of 2017 compared to $4.3 million for the second quarter of 2016, reflecting an increase in amortization of intangible assets, accrual of contingent earn out and professional fees. Included in SG&amp;A is incremental SG&amp;A expense of $0.5 million from the Company&#8217;s acquisition of NVIS, which was completed in the first quarter of 2017. </p>

<p>Net loss for the second quarter of 2017 was $7.3 million, or $0.10 per share, compared with net loss of $3.2 million, or $0.05 per share, for the second quarter of 2016. The second quarter of 2016 included a $7.7 million gain on the sale of our Korean subsidiary </p>

<p>During the second quarter of 2017 we had 9 patents granted and filed for 2 new applications. Overall we have over 300 patents and patents pending, almost all of which are related to wearable applications. </p>

<p>As of July 1, 2017 Kopin had approximately $85 million in cash equivalents and marketable securities, and no long term debt. </p>

<p>All amounts above are estimates and readers should refer to our Form 10-Q for the quarter ended July 1, 2017, for final disposition. </p>

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<p><b>Financial Results Conference Call</b> </p>

<p>In conjunction with its second quarter 2017 financial results,&#160;Kopin&#160;will host a teleconference call for investors and analysts at&#160;8:30 a.m. ET&#160;today. To participate, please dial (877) 709-8150 (U.S. and&#160;Canada) or (201) 689-8354 (International). The call will also be available as a live and archived audio webcast on the &#8220;Investors&#8221; section of the&#160;Kopin&#160;website,&#160;<u>www.kopin.com</u>. </p>

<p><b>About&#160;Kopin</b> </p>

<p>Kopin Corporation is a leading developer and provider of innovative wearable technologies and solutions for integration into head-worn computing and display systems to military, industrial and consumer customers. Kopin&#8217;s technology portfolio includes ultra-small displays, optics, speech enhancement technology, system and hands-free control software, low-power ASICs, and ergonomically designed smart headset reference systems. Kopin&#8217;s proprietary components and technology are protected by more than 300 global patents and patents pending. For more information, please visit Kopin&#8217;s website at&#160;<u>www.kopin.com</u>. </p>

<p>Kopin, Lightning, SOLOS, and Whisper are trademarks of&#160;Kopin Corporation. </p>

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<p><b>Forward-Looking Statements</b> </p>

<p><i>Statements in this press release may be considered &#8220;forward-looking&#8221; statements under the &#8220;Safe Harbor&#8221; provisions of the Private Securities Litigation Reform Act of 1995. These include, without limitation, statements relating to our belief that revenue in the second half of 2017 will increase 70% as compared to the first half of 2017; that five new headsets will be introduced in the second half of 2017 of which two will be Kopin products and three will be customer products; that our four military programs will continue to ramp and should have a very significant impact on our revenues in the second half of 2017 and 2018; that our revenue growth momentum is accelerating; our belief that the commercial AR/VR opportunities are beginning to materialize; our expectation that the second generation of SOLOS will be on sale by the end of 2017; our expectation that four of the five new headsets introduced in the second half of 2017 will feature our Whisper chip; and that we have sufficient capital to monetize and commercialize our investments.</i> <i>These statements involve a number of risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. These risks and uncertainties include, but are not limited to, the following: Our revenues may not grow in the second half of 2017; here may be delays and the five new headset products may not be introduced; the five new headset products may not gain market acceptance; our military programs may not continue to ramp and they may be delayed, cancelled or not funded; our revenue momentum may stop; our revenues may decline for a variety of reasons including, but not limited to, lack of market acceptance, production issues, material supply issues and pricing issues;</i> <i>four of the five new headsets may not have the Whisper chip in them; our Whisper Chip may not work for far field applications; our Whisper Chip may not achieve market acceptance; the second generation of Solos may not be introduced in the second half of 2017; we may have insufficient fund to monetize and or commercialize our investment; we may not be well positioned as the VR and AR markets begin to accelerate; our progress may not lead to the growth of the AR and VR markets; the AR and VR markets may take longer to develop than we anticipate; there may be no demand for our AR and VR products; and other risk factors and cautionary statements listed in Kopin&#8217;s periodic reports and registration statements filed with the&#160;Securities and Exchange Commission, including the Annual Report on Form 10-K for the 12 months ended&#160;December 31, 2016, and Kopin&#8217;s subsequent filings with the&#160;Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements, which are based only on information currently available to Kopin and only as of the date on which they are made. We undertake no obligation to update any of these forward-looking statements to reflect events or circumstances occurring after the date of this release.</i> </p>

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<td></td>
<td>&#160; </td>
<td>&#160; </td>
<td colspan="2"></td>
<td>&#160; </td>
<td>&#160; </td>
<td colspan="2"></td>
<td>&#160; </td>
<td>&#160; </td>
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<td>&#160; </td>
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<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="top" colspan="17"><b>Kopin Corporation</b> </td>
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<tr>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="top" colspan="17"><b>Supplemental Information</b> </td>
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<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="top" colspan="17"><b>(Unaudited)</b> </td>
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<td></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
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<td colspan="2"></td>
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<td colspan="2">&#160; </td>
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<td></td>
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<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="top" colspan="6">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><b>Three Months Ended</b> </p>
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<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="top" colspan="6">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><b>Six Months Ended</b> </p>
</td>
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<td></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2">&#160; </td>
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<tr>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="top" colspan="2">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><u><b>July 1, 2017</b></u> </p>
</td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="top" colspan="2">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><u><b>June 25, 2016</b></u> </p>
</td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="top" colspan="2">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><u><b>July 1, 2017</b></u> </p>
</td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="top" colspan="2">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><u><b>June 25, 2016</b></u> </p>
</td>
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<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><b>Display Revenues by Category (in millions)</b> </p>
</td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Wearable Applications </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">0.9 </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">1.8 </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">1.5 </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">4.4 </td>
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<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Military Applications </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">1.0 </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">0.9 </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">2.0 </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">2.4 </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Industrial Applications </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">2.7 </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">1.0 </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">4.5 </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">2.2 </td>
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<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Consumer Electronics Applications </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">0.4 </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">0.4 </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">0.9 </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">1.1 </td>
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<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 0px" valign="top">Research and Development </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">0.9 </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">0.3 </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">1.4 </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">0.4 </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Total </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">5.9 </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">4.4 </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">10.3 </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">10.5 </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2">&#160; </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2">&#160; </td>
</tr>

<tr>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top"><b>Stock-Based Compensation Expense</b> </td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top"><b>Continuing Operations</b> </td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Cost of component revenues </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">159,000 </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">148,000 </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">263,000 </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">290,000 </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Research and development </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">195,000 </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">132,000 </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">413,000 </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">249,000 </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 0px" valign="top">Selling, general and administrative </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">322,000 </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">615,000 </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">1,292,000 </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">412,000 </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">676,000 </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">895,000 </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">1,968,000 </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">951,000 </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2">&#160; </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2">&#160; </td>
</tr>

<tr>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top"><b>Other Financial Information</b> </td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Depreciation and amortization </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">699,000 </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">316,000 </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">1,143,000 </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">652,000 </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2">&#160; </td>
</tr>
</table>
</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 10px; FONT-SIZE: 8pt" id="z7af76d54c69a41978368bae61f75fa43" cellspacing="0">
<tr>
<td></td>
<td>&#160; </td>
<td>&#160; </td>
<td colspan="18"></td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="top" colspan="21"><b>Kopin Corporation</b> </td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="top" colspan="21"><b>Condensed Consolidated Statements of Operations</b> </td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px" valign="top" colspan="21"><b>(Unaudited)</b> </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td>&#160; </td>
<td>&#160; </td>
<td colspan="3"></td>
<td>&#160; </td>
<td>&#160; </td>
<td colspan="3"></td>
<td>&#160; </td>
<td>&#160; </td>
<td colspan="3"></td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="top" colspan="8"><b>Three Months Ended</b> </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="top" colspan="8"><b>Six Months Ended</b> </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="top" colspan="3">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><u><b>July 1, 2017</b></u> </p>
</td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="top" colspan="3">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><u><b>June 25, 2016</b></u> </p>
</td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="top" colspan="3">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><u><b>July 1, 2017</b></u> </p>
</td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="top" colspan="3">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><u><b>June 25, 2016</b></u> </p>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Revenues: </td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Net product revenues </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">4,979,400 </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">4,096,529 </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">8,912,543 </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">10,074,663 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 15px" valign="top">Research and development revenues </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">948,069 </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">258,746 </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">1,393,054 </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">399,750 </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">5,927,469 </td>
<td></td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">4,355,275 </td>
<td></td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">10,305,597 </td>
<td></td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">10,474,413 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Expenses: </td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Cost of product revenues </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">4,117,226 </td>
<td></td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">4,646,846 </td>
<td></td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">7,234,583 </td>
<td></td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">9,282,887 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Research and development </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">4,678,221 </td>
<td></td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">4,119,401 </td>
<td></td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">8,960,090 </td>
<td></td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">8,159,352 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Selling, general and administrative </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">5,200,261 </td>
<td></td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">4,282,264 </td>
<td></td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">10,841,947 </td>
<td></td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">8,043,113 </td>
<td></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 15px" valign="top">Gain on sale of property and plant </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">- </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(7,700,522 </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">- </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(7,700,522 </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">13,995,708 </td>
<td></td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">5,347,989 </td>
<td></td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">27,036,620 </td>
<td></td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">17,784,830 </td>
<td></td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Loss from operations </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(8,068,239 </td>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(992,714 </td>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(16,731,023 </td>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(7,310,417 </td>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 0px" valign="top">Other income (expense), net </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">807,699 </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">100,986 </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">384,606 </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(275,098 </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Loss before benefit (provision) for income taxes and net loss </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(7,260,540 </td>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(891,728 </td>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(16,346,417 </td>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(7,585,515 </td>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">(income) from noncontrolling interest </td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 0px" valign="top">(Provision) benefit for income taxes </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">- </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(1,963,000 </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">1,146,000 </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(2,104,000 </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Net loss </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(7,260,540 </td>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(2,854,728 </td>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(15,200,417 </td>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(9,689,515 </td>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 0px" valign="top">Net (income) loss attributable to noncontrolling interest </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(71,431 </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(339,374 </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">10,007 </td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(438,047 </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; PADDING-LEFT: 0px" valign="top">Net loss attributable to the controlling interest </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(7,331,971 </td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(3,194,102 </td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(15,190,410 </td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(10,127,562 </td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Net loss per share: </td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Basic and diluted </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(0.10 </td>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(0.05 </td>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(0.22 </td>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">(0.16 </td>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">) </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Weighted average number of common shares outstanding: </td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td colspan="3"></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; PADDING-LEFT: 15px" valign="top">Basic and diluted </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 2.25pt double">&#160; </td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">70,626,542 </td>
<td style="BORDER-BOTTOM: black 2.25pt double">&#160; </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 2.25pt double">&#160; </td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">64,011,571 </td>
<td style="BORDER-BOTTOM: black 2.25pt double">&#160; </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 2.25pt double">&#160; </td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">67,582,615 </td>
<td style="BORDER-BOTTOM: black 2.25pt double">&#160; </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 2.25pt double">&#160; </td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">63,994,809 </td>
<td style="BORDER-BOTTOM: black 2.25pt double">&#160; </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td>&#160; </td>
</tr>
</table>
</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 10px; FONT-SIZE: 8pt" id="zbd3d72406fcb411f8504047189be0c95" cellspacing="0">
<tr>
<td colspan="9">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="top" colspan="9"><b>Kopin Corporation</b> </td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="top" colspan="9"><b>Condensed Consolidated Balance Sheets</b> </td>
</tr>

<tr>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px" valign="top" colspan="9"><b>(Unaudited)</b> </td>
</tr>

<tr>
<td></td>
<td>&#160; </td>
<td>&#160; </td>
<td colspan="2"></td>
<td>&#160; </td>
<td>&#160; </td>
<td colspan="2"></td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="top" colspan="2">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><u><b>July 1, 2017</b></u> </p>
</td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: center; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="top" colspan="2">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><u><b>December 31, 2016</b></u> </p>
</td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">ASSETS </td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Current assets: </td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Cash and marketable securities </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">84,908,544 </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">77,197,896 </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Accounts receivable, net </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">1,943,272 </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">1,699,195 </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Inventory </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">4,412,962 </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">3,302,112 </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 15px" valign="top">Prepaid and other current assets </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">1,532,106 </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">1,194,901 </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Total current assets </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">92,796,884 </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">83,394,104 </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Land, equipment and improvements, net </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">3,708,747 </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">2,976,006 </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Goodwill and intangible assets </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">4,189,434 </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">844,023 </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 0px" valign="top">Other assets </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">938,791 </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">618,139 </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; PADDING-LEFT: 0px" valign="top">Total assets </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">101,633,856 </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">87,832,272 </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">LIABILITIES AND STOCKHOLDERS' EQUITY </td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Current liabilities: </td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2"></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Accounts payable </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">4,182,746 </td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">4,355,462 </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Accrued expenses </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">7,153,590 </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">5,457,484 </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 15px" valign="top">Deferred income taxes </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">2,623,679 </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">2,571,000 </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 15px" valign="top">Billings in excess of revenue earned </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">1,027,227 </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">981,761 </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Total current liabilities </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">14,987,242 </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">13,365,707 </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Lease commitments </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">260,668 </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">246,922 </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2">&#160; </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0px" valign="top">Total Kopin Corporation stockholders' equity </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">86,260,343 </td>
<td></td>
<td></td>
<td></td>
<td style="TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">74,077,686 </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 0px" valign="top">Noncontrolling interest </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">125,603 </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">141,957 </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; PADDING-LEFT: 0px" valign="top">Total stockholders' equity </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">86,385,946 </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160; </td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">74,219,643 </td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; PADDING-LEFT: 0px" valign="top">Total liabilities and stockholders' equity </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">101,633,856 </td>
<td></td>
<td></td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">$ </td>
<td style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WHITE-SPACE: nowrap" valign="bottom">87,832,272 </td>
</tr>

<tr>
<td></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td></td>
<td colspan="2">&#160; </td>
</tr>
</table>
</div>

<p></p>

<p>CONTACT:<br>
Kopin Corporation<br>
<b>Richard Sneider,&#160;</b>508-870-5959<br>
Treasurer and Chief Financial Officer<br>
<u>Richard_Sneider@kopin.com</u><br>
or<br>
Market Street Partners<br>
<b>Joann Horne,&#160;</b>415-445-3233<br>
<u>JHorne@marketstreetpartners.com</u> </p>
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</SEC-DOCUMENT>
