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Consolidated Balance Sheets - USD ($)
Dec. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 5,710,685 $ 8,258,878
Restricted cash 500,000
Marketable debt securities, at fair value 11,692,000 4,388,778
Accounts receivable, net of allowance of $1,025,000 and $303,000 in 2023 and 2022, respectively 9,706,036 6,537,891
Contract assets and unbilled receivables 3,409,809 4,068,364
Inventory 7,601,806 6,426,400
Prepaid taxes 85,572 105,495
Prepaid expenses and other current assets 1,124,635 1,074,867
Total current assets 39,830,543 30,860,673
Property, plant and equipment, net 2,163,417 1,831,641
Operating lease right-of-use assets 2,504,909 3,168,520
Other assets 124,925 170,132
Equity investments 4,688,522 7,721,206
Total assets 49,312,316 43,752,172
Current liabilities:    
Accounts payable 7,076,759 5,438,980
Accrued payroll and expenses 1,701,506 2,879,139
Accrued warranty 2,160,000 1,966,000
Contract liabilities and billings in excess of revenues earned 916,826 930,500
Operating lease liabilities 651,503 786,928
Accrued post-retirement benefits 790,000 790,000
Other accrued liabilities 1,702,681 1,182,346
Customer deposits 408,156
Deferred tax liabilities 470,884 482,739
Total current liabilities 15,878,315 14,456,632
Noncurrent contract liabilities and asset retirement obligations 278,112 248,284
Operating lease liabilities, net of current portion 1,832,982 2,576,883
Accrued post-retirement benefits, net of current portion 319,996 1,110,000
Other long-term liabilities, net of current portion 1,494,016 1,369,758
Total liabilities 19,803,421 19,761,557
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 114,253,818 shares in 2023 and 94,920,060 shares in 2022; outstanding 112,251,416 in 2023 and 92,883,524 in 2022, respectively 1,123,220 929,540
Additional paid-in capital 385,411,542 360,567,631
Treasury stock (70,635 shares in 2023 and 2022, at cost) (103,127) (103,127)
Accumulated other comprehensive income 1,232,294 1,176,068
Accumulated deficit (358,155,034) (338,406,815)
Total Kopin Corporation stockholders’ equity 29,508,895 24,163,297
Noncontrolling interest (172,682)
Total stockholders’ equity 29,508,895 23,990,615
Total liabilities and stockholders’ equity $ 49,312,316 $ 43,752,172