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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and cash equivalents $ 9,599,675 $ 8,258,878
Restricted cash 500,000
Marketable debt securities, at fair value 11,610,485 4,388,778
Accounts receivable, net of allowance of $1,025,000 in 2023 and $303,000 in 2022 7,118,214 6,537,891
Contract assets and unbilled receivables 5,882,340 4,068,364
Inventory 9,074,492 6,426,400
Prepaid taxes 104,671 105,495
Prepaid expenses and other current assets 1,478,375 1,074,867
Total current assets 45,368,252 30,860,673
Property, plant and equipment, net 1,794,832 1,831,641
Operating lease right-of-use assets 2,670,116 3,168,520
Other assets 169,132 170,132
Equity investments 4,603,014 7,721,206
Total assets 54,605,346 43,752,172
Current liabilities:    
Accounts payable 7,187,025 5,438,980
Accrued payroll and expenses 1,717,584 2,879,139
Accrued warranty 2,161,000 1,966,000
Contract liabilities and billings in excess of revenues earned 668,046 930,500
Operating lease liabilities 762,521 786,928
Accrued post-retirement benefits 790,000 790,000
Other accrued liabilities 1,765,544 1,182,346
Customer deposits 559,503
Deferred tax liabilities 450,480 482,739
Total current liabilities 16,061,703 14,456,632
Noncurrent contract liabilities and asset retirement obligations 267,226 248,284
Operating lease liabilities, net of current portion 2,008,077 2,576,883
Accrued post-retirement benefits, net of current portion 507,496 1,110,000
Other long-term obligations, net of current portion 1,391,121 1,369,758
Total liabilities 20,235,623 19,761,557
Commitments and contingencies
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 114,415,269 shares in 2023 and 94,920,060 shares in 2022; outstanding 110,396,217 in 2023 and 92,883,524 in 2022, respectively 1,104,668 929,540
Additional paid-in capital 383,898,603 360,567,631
Treasury stock (70,635 shares in 2023 and 2022, at cost) (103,127) (103,127)
Accumulated other comprehensive income 1,135,641 1,176,068
Accumulated deficit (351,666,062) (338,406,815)
Total Kopin Corporation stockholders’ equity 34,369,723 24,163,297
Noncontrolling interest (172,682)
Total Kopin Corporation stockholders’ equity 34,369,723 23,990,615
Total liabilities and stockholders’ equity $ 54,605,346 $ 43,752,172