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Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 25, 2021
Current assets:    
Cash and cash equivalents $ 8,258,878 $ 26,787,931
Marketable debt securities, at fair value 4,388,778 2,507,535
Accounts receivable, net of allowance of $303,000 and $150,000 in 2022 and 2021, respectively 6,537,891 12,113,070
Contract assets and unbilled receivables 4,068,364 2,299,392
Inventory 6,426,400 6,581,139
Prepaid taxes 105,495 160,599
Prepaid expenses and other current assets 1,074,867 1,758,079
Total current assets 30,860,673 52,207,745
Property, plant and equipment, net 1,831,641 1,888,963
Operating lease right-of-use assets 3,168,520 3,828,066
Other assets 170,132 170,932
Equity investments 7,721,206 4,912,022
Total assets 43,752,172 63,007,728
Current liabilities:    
Accounts payable 5,438,980 5,483,970
Accrued payroll and expenses 2,879,139 2,413,744
Accrued warranty 1,966,000 517,000
Contract liabilities and billings in excess of revenue earned 930,500 4,063,031
Operating lease liabilities 786,928 701,204
Accrued post-retirement benefits 790,000
Other accrued liabilities 1,182,346 1,202,635
Customer deposits 2,638,103
Deferred tax liabilities 482,739 513,417
Total current liabilities 14,456,632 17,533,104
Noncurrent contract liabilities and asset retirement obligations 248,284 288,634
Operating lease liabilities, net of current portion 2,576,883 3,108,236
Accrued post-retirement benefits, net of current portion 1,110,000 1,150,000
Other long-term liabilities, net of current portion 1,369,758 1,300,897
Total liabilities 19,761,557 23,380,871
Commitments and contingencies (Note 11)
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 94,920,060 shares in 2022 and 92,146,761 shares in 2021; outstanding 92,883,524 in 2022 and 89,988,528 in 2021, respectively 929,540 900,691
Additional paid-in capital 360,567,631 356,931,157
Treasury stock (70,635 and 80,641 shares in 2022 and 2021, at cost) (103,127) (366,110)
Accumulated other comprehensive income 1,176,068 1,414,351
Accumulated deficit (338,406,815) (319,080,898)
Total Kopin Corporation stockholders’ equity 24,163,297 39,799,191
Noncontrolling interest (172,682) (172,334)
Total stockholders’ equity 23,990,615 39,626,857
Total liabilities and stockholders’ equity $ 43,752,172 $ 63,007,728