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STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION | 3 Months Ended
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Mar. 28, 2026
Equity [Abstract] |
STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION | 9. STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION Registered sale of equity securities On September 29, 2025, the Company entered into a securities purchase agreement (the “Purchase Agreement”) for a private investment in public equity financing (the “PIPE”) for 19,545,950 shares of its common stock, par value $0.01 per share (the “Shares”). The net proceeds to the Company from the offering were approximately $38.1 million, after deducting placement agent fees and commissions and offering expenses payable by the Company. The transaction was consummated on September 30, 2025. Non-Vested Restricted Common Stock Restricted stock activity for the three-month period ended March 28, 2026 was as follows: SCHEDULE OF NON-VESTED RESTRICTED STOCK ACTIVITY
|  | Shares |  |  | Weighted Average Grant-Date Fair Value |  |  | Grant-Date Fair Value |
Non-vested at December 27, 2025 |  |  | 5,339,847 |  |  | $ | 1.41 |  |  | $ | 7,551,683 |
Granted |  |  | 1,320,773 |  |  |  | 2.45 |  |  | $ | 3,234,760 |
Forfeited |  |  | (55,950 | ) |  |  | (1.28 | ) |  | $ | (71,763 | )
Vested |  |  | — |  |  |  | — |  |  | $ | — |
Non-vested at March 28, 2026 |  |  | 6,604,670 |  |  | $ | 1.62 |  |  | $ | 10,714,680 |
Expected to vest |  |  | 6,604,670 |  |  | $ | 1.62 |  |  | $ | 10,714,680 |
Stock-Based Compensation The following table summarizes stock-based compensation expense within each of the categories below as it relates to non-vested restricted common stock and stock options awards for the three months ended March 28, 2026 and March 29, 2025 (no tax benefits were recognized): SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE
|  | Three Months Ended |  |  | Three Months Ended |
|  | March 28, 2026 |  |  | March 29, 2025 |
Cost of product revenues |  | $ | 50,008 |  |  | $ | 139,437 |
Research and development |  |  | 137,346 |  |  |  | 117,720 |
Selling, general and administrative |  |  | 307,974 |  |  |  | 517,235 |
Total |  | $ | 495,328 |  |  | $ | 774,392 |
Unrecognized compensation expense for non-vested restricted common stock as of March 28, 2026 totaled $10.7 million and is expected to be recognized over a weighted average period of approximately two and a half years. Stock Options During the three months ended March 28, 2026, an option award for 724,638 shares of the Company’s common stock was granted to the Chief Executive Officer. These options have a strike price of $3.21 and vest over a 4 year period. During the three months ended March 28, 2026, the Company recorded incremental stock-based compensation of less than $0.1 million as a result of the granting of stock option awards. As of March 28, 2026, there was approximately $1.8 million of unrecognized compensation cost related to unvested options. The cost is expected to be recognized over a weighted average period of 3.5 years. The fair value of this options award was estimated using the Black-Scholes model using the following assumptions and had the following fair values: SCHEDULE OF STOCK OPTIONS WEIGHTED AVERAGE OF ASSUMPTIONS
|  | Three Months Ended |
|  | March 28, 2026 |
Average risk-free interest rate |  |  | 4.00 | %
Expected dividend yield |  |  | None |
Expected life (average, in years) |  |  | 8.00 |
Expected volatility |  |  | 90.00 | %
Weighted average exercise price |  | $ | 3.21 |
Weighted average fair value |  | $ | 2.07 |
The Company’s 2026 average expected volatility and average expected life is based on the average of the Company’s historical information. The risk-free rate is based on the rate of U.S. Treasury zero-coupon issues with a remaining term equal to the expected life of option grants. The Company has paid no dividends on its common stock in the past and does not anticipate paying any dividends in the future. A summary of stock option activity for the period ended March 28, 2026 is as follows: SUMMARY OF STOCK OPTION ACTIVITY
|  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Intrinsic Value |
Outstanding as of December 27, 2025 |  |  | 591,366 |  |  | $ | 1.76 |  |  | $ | 366,647 |
Granted |  |  | 724,638 |  |  | $ | 3.21 |  |  |  | — |
Outstanding as of March 28, 2026 |  |  | 1,316,004 |  |  | $ | 2.56 |  |  | $ | — |
Options exercisable as of March 28, 2026 |  |  | 230,092 |  |  | $ | 2.05 |  |  | $ | — |

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- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505/tableOfContent + Details
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