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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 24, 2022
Dec. 25, 2021
Current assets:    
Cash and equivalents $ 9,625,414 $ 26,787,931
Marketable debt securities, at fair value 5,377,595 2,507,535
Accounts receivable, net of allowance of $134,000 in 2022 and $150,000 in 2021 8,531,835 12,113,070
Contract assets and unbilled receivables 4,605,889 2,299,392
Inventory 6,660,810 6,581,139
Prepaid taxes 139,605 160,599
Prepaid expenses and other current assets 1,586,620 1,758,079
Total current assets 36,527,768 52,207,745
Property, plant and equipment, net 1,627,468 1,888,963
Operating lease right-of-use assets 3,540,073 3,828,066
Other assets 170,932 170,932
Equity investments 7,612,065 4,912,022
Total assets 49,478,306 63,007,728
Current liabilities:    
Accounts payable 4,936,931 5,483,970
Accrued payroll and expenses 2,661,645 2,413,744
Accrued warranty 1,966,000 517,000
Contract liabilities and billings in excess of revenues earned 1,097,919 4,063,031
Operating lease liabilities 761,734 701,204
Other accrued liabilities 2,893,502 1,202,635
Customer deposits 378,201 2,638,103
Deferred tax liabilities 424,433 513,417
Total current liabilities 15,120,365 17,533,104
Noncurrent contract liabilities and asset retirement obligations 225,210 288,634
Operating lease liabilities, net of current portion 2,753,885 3,108,236
Other long-term obligations 1,170,393 2,450,897
Total liabilities 19,269,853 23,380,871
Commitments and contingencies (Note 13)
Stockholders’ equity:    
Preferred stock, par value $.01 per share: authorized, 3,000 shares; none issued
Common stock, par value $.01 per share: authorized, 150,000,000 shares; issued 95,107,358 shares in 2022 and 92,146,761 shares in 2021; outstanding 92,627,059 in 2022 and 89,988,528 in 2021 926,270 900,691
Additional paid-in capital 360,673,851 356,931,157
Treasury stock (80,641 shares in 2021, at cost) (366,110)
Accumulated other comprehensive income 1,030,591 1,414,351
Accumulated deficit (332,249,645) (319,080,898)
Total Kopin Corporation stockholders’ equity 30,381,067 39,799,191
Noncontrolling interest (172,614) (172,334)
Total Kopin Corporation stockholders’ equity 30,208,453 39,626,857
Total liabilities and stockholders’ equity $ 49,478,306 $ 63,007,728