XML 44 R28.htm IDEA: XBRL DOCUMENT v3.20.4

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 26, 2020

Accounting Policies [Abstract]

Schedule of Restated Consolidated Statement of Operations

In accordance with the new revenue standard requirements, the impact of adoption on the Company’s consolidated statement of operations for the fiscal year 2018 was as follows:

Schedule of Restated Consolidated Statement of Operations

Statement of Operations		As Reported				Balances Without Adoption of Topic 606				Effect of Change Higher/(Lower)
Net product revenues		$	19,211,115			$	19,726,901			$	(515,786	)
Research and development and other revenues			5,253,890				5,600,066				(346,176	)
Cost of product revenues			15,831,441				16,809,343				(977,902	)
Net loss attributable to Kopin Corporation		$	(34,533,542	)		$	(34,649,482	)		$	115,940

Schedule of Satisfaction of Performance Obligations

The Company’s revenue recognition related to performance obligations that were satisfied at a point in time and over time were as follows:

Schedule of Satisfaction of Performance Obligations

Fiscal year ended		2020				2019				2018
Point in time			34	%			64	%			60	%
Over time			66	%			36	%			40	%

Schedule of Inventory

Inventory consists of the following at December 26, 2020 and December 28, 2019:

Schedule of Inventory

		2020				2019
Raw materials		$	3,609,710			$	2,630,156
Work-in-process			565,986				711,475
Finished goods			280,060				427,065
Total		$	4,455,756			$	3,768,696

Schedule of Changes in Asset Retirement Obligations

The Company recorded asset retirement obligations (“ARO”) liabilities of $0.3 million at December 26, 2020 and December 28, 2019. This represents the legal obligations associated with retirement of the Company’s assets when the timing and/or method of settling the obligation are conditional on a future event that may or may not be within the control of the Company. Changes in ARO liabilities for fiscal years 2020 and 2019 are as follows:

 Schedule of Changes in Asset Retirement Obligations

		2020				2019
Beginning balance		$	261,883			$	254,098
Exchange rate change			9,457				7,785
Ending balance		$	271,340			$	261,883

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following were not included in weighted-average common shares outstanding-diluted because they are anti-dilutive:

 Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

		2020				2019				2018
Nonvested restricted common stock			3,051,874				1,863,124				2,213,249

Schedule of Accumulated Other Comprehensive Income

The components of accumulated other comprehensive income are as follows:

 Schedule of Accumulated Other Comprehensive Income

		Cumulative Translation Adjustment				Unrealized holding (loss) gain on marketable securities				Reclassifications of gain (loss) of marketable securities in net loss				Accumulated Other Comprehensive Income
Balance as of December 30, 2017		$	3,231,706			$	387,733			$	(54,660	)		$	3,564,779
Changes during year			(1,794,768	)			(264,949	)			49,525				(2,010,192	)
Balance as of December 29, 2018			1,436,938				122,784				(5,135	)			1,554,587
Changes during year			(206,580	)			446,533				(37,356	)			202,597
Balance as of December 28, 2019			1,230,358				569,317				(42,491	)			1,757,184
Changes during year			(67,852	)			(183,870	)			(21,028	)			(272,750	)
Balance as of December 26, 2020		$	1,162,506			$	385,447			$	(63,519	)		$	1,484,434

X

- References

No definition available.

+ Details

Name:	us-gaap_AccountingPoliciesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of expected timing for satisfying remaining performance obligation.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(1)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

+ Details

Name:	us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of accumulated other comprehensive income (loss).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669686-108580

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
-URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

+ Details

Name:	us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

+ Details

Name:	us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the carrying amount of a liability for asset retirement obligations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6392692&loc=d3e7535-110849

+ Details

Name:	us-gaap_ScheduleOfAssetRetirementObligationsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(6)(c))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(6)(b))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(6)(a))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766

+ Details

Name:	us-gaap_ScheduleOfInventoryCurrentTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=116846552&loc=d3e765-108305

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=116846552&loc=d3e725-108305

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

+ Details

Name:	us-gaap_ScheduleOfNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration