XML 12 R2.htm IDEA: XBRL DOCUMENT v3.23.1
Condensed Consolidated Balance Sheets - USD ($)
Apr. 01, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 8,583,146 $ 8,258,878
Marketable debt securities, at fair value 21,027,050 4,388,778
Accounts receivable, net of allowance of $800,000 in 2023 and $303,000 in 2022 5,612,935 6,537,891
Contract assets and unbilled receivables 3,043,076 4,068,364
Inventory 6,817,754 6,426,400
Prepaid taxes 127,280 105,495
Prepaid expenses and other current assets 1,584,669 1,074,867
Total current assets 46,795,910 30,860,673
Property, plant and equipment, net 1,826,093 1,831,641
Operating lease right-of-use assets 3,005,772 3,168,520
Other assets 169,132 170,132
Equity investments 7,727,789 7,721,206
Total assets 59,524,696 43,752,172
Current liabilities:    
Accounts payable 3,836,276 5,438,980
Accrued payroll and expenses 1,778,133 2,879,139
Accrued warranty 2,166,340 1,966,000
Contract liabilities and billings in excess of revenues earned 718,544 930,500
Operating lease liabilities 790,567 786,928
Accrued post-retirement benefits 790,000 790,000
Other accrued liabilities 1,118,969 1,182,346
Customer deposits 87,283
Deferred tax liabilities 466,246 482,739
Total current liabilities 11,752,358 14,456,632
Noncurrent contract liabilities and asset retirement obligations 252,971 248,284
Operating lease liabilities, net of current portion 2,378,248 2,576,883
Accrued post-retirement benefits, net of current portion 882,500 1,110,000
Other long-term obligations, net of current portion 1,361,142 1,369,758
Total liabilities 16,627,219 19,761,557
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 111,502,604 shares in 2023 and 94,920,060 shares in 2022; outstanding 109,901,024 in 2023 and 92,883,524 in 2022, respectively 1,099,715 929,540
Additional paid-in capital 381,753,964 360,567,631
Treasury stock (70,635 shares in 2023 and 2022, at cost) (103,127) (103,127)
Accumulated other comprehensive income 1,182,295 1,176,068
Accumulated deficit (341,035,370) (338,406,815)
Total Kopin Corporation stockholders’ equity 42,897,477 24,163,297
Noncontrolling interest (172,682)
Total Kopin Corporation stockholders’ equity 42,897,477 23,990,615
Total liabilities and stockholders’ equity $ 59,524,696 $ 43,752,172