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Condensed Consolidated Balance Sheets - USD ($)
Sep. 28, 2024
Dec. 30, 2023
Current assets:    
Cash and cash equivalents $ 14,530,593 $ 5,710,685
Restricted cash 1,050,000 500,000
Marketable securities, at fair value 21,712,243 11,692,000
Accounts receivable, net of allowance of $1,015,000 in 2024 and $1,025,000 in 2023 9,233,935 9,706,036
Contract assets and unbilled receivables 8,274,538 3,409,809
Inventory 6,555,359 7,601,806
Prepaid taxes 84,885 85,572
Prepaid expenses and other current assets 1,561,710 1,124,635
Total current assets 63,003,263 39,830,543
Property, plant and equipment, net 2,016,452 2,163,417
Operating lease right-of-use assets 2,305,433 2,504,909
Other assets 124,925 124,925
Equity investments 3,129,434 4,688,522
Total assets 70,579,507 49,312,316
Current liabilities:    
Accounts payable 4,385,635 4,947,338
Accrued payroll and expenses 1,724,776 1,701,506
Accrued warranty 2,675,000 2,160,000
Contract liabilities and billings in excess of revenues earned 268,468 916,826
Operating lease liabilities 653,546 651,503
Accrued post-retirement benefits 227,500 790,000
Other accrued liabilities 1,971,681 1,702,681
Customer deposits 102,481 408,156
Deferred tax liabilities 470,884 470,884
Accrued legal expenses 6,666,717 2,129,421
Accrued litigation damages 24,800,000
Total current liabilities 43,946,688 15,878,315
Noncurrent contract liabilities and asset retirement obligations 372,903 278,112
Operating lease liabilities, net of current portion 1,634,390 1,832,982
Accrued post-retirement benefits, net of current portion 279,996 319,996
Other long-term obligations, net of current portion 1,619,016 1,494,016
Total liabilities 47,852,993 19,803,421
Commitments and contingencies (Note 14)
Stockholders’ equity:    
Preferred stock, par value $.01 per share: authorized, 3,000 shares; none issued
Common stock, par value $.01 per share: authorized, 200,000,000 shares in 2024 and 150,000,000 in 2023; issued 158,769,894 shares in 2024 and 114,253,818 shares in 2023; outstanding 153,182,916 in 2024 and 112,251,416 in 2023, respectively 1,532,589 1,123,220
Additional paid-in capital 420,066,150 385,411,542
Treasury stock (76,064 shares in 2024 and 70,635 in 2023, at cost) (103,181) (103,127)
Accumulated other comprehensive income 1,316,545 1,232,294
Accumulated deficit (400,085,589) (358,155,034)
Total stockholders’ equity 22,726,514 29,508,895
Total liabilities and stockholders’ equity $ 70,579,507 $ 49,312,316