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DISCONTINUED OPERATIONS (Tables)
 12 Months Ended
Dec. 28, 2024
DISCONTINUED OPERATIONS  
Schedule of income from discontinued operations

 

 

Year Ended

 

 

 

December 28,

2024

 

 

December 30,

2023

 

 

 

 

 

 

 

 

Net sales

 

$13,728,762

 

 

$14,597,477

 

Cost of products sold

 

 

(11,573,847)

 

 

(11,416,639)

Gross margin

 

 

2,154,915

 

 

 

3,180,838

 

 

 

 

 

 

 

 

 

 

Selling and administrative expenses

 

 

(4,296,484)

 

 

(5,030,732)

Operating loss

 

 

(2,141,569)

 

 

(1,849,894)

 

 

 

 

 

 

 

 

 

Other expense

 

 

(23,087,775)

 

 

(1,539,941)

Interest expense

 

 

(680,329)

 

 

(701,320)

 

 

 

 

 

 

 

 

 

Loss from discontinued operations before income taxes

 

 

(25,909,673)

 

 

(4,091,155)

 

 

 

 

 

 

 

 

 

Income tax benefit

 

 

4,164,932

 

 

 

895,806

 

Loss from discontinued operations, net of tax

 

$(21,744,741)

 

$(3,195,349)
Schedule of assets and liabilities from discontinued operations

 

 

December 28,

2024

 

 

December 30,

2023

 

 

 

 

 

 

 

 

Cash

 

$833,141

 

 

$251,326

 

Accounts receivable

 

 

2,533,357

 

 

 

2,852,907

 

Inventory

 

 

784,485

 

 

 

875,528

 

Prepaid expenses

 

 

789,438

 

 

 

604,036

 

Property, plant and equipment, net

 

 

-

 

 

 

4,767,724

 

Patents and other intangibles net of accumulated amortization

 

 

-

 

 

 

5,744,312

 

Goodwill

 

 

-

 

 

 

12,200,695

 

Right of use assets

 

 

131,407

 

 

 

172,310

 

Total assets of discontinued operations

 

$5,071,828

 

 

$27,468,838

 

 

 

 

 

 

 

 

 

 

Current assets of discontinued operations¹

 

$5,071,828

 

 

$4,583,797

 

Non-current assets of discontinued operations

 

 

-

 

 

 

22,885,041

 

Total assets of discontinued operations

 

$5,071,828

 

 

$27,468,838

 

 

 

 

 

 

 

 

 

 

Accounts payable

 

$756,842

 

 

$765,356

 

Accrued compensation and other accrued expenses

 

 

1,242,812

 

 

 

775,838

 

Note payable, current

 

 

-

 

 

 

-

 

Current portion of operating lease liability

 

 

121,299

 

 

 

94,355

 

Current portion of financing lease liability

 

 

7,371

 

 

 

 

 

Other long-term liabilities

 

 

16,249

 

 

 

6,920

 

Total liabilities of discontinued operations

 

$2,144,573

 

 

$1,642,469

 

 

 

 

 

 

 

 

 

 

Current liabilities of discontinued operations¹

 

$2,144,573

 

 

$1,635,549

 

Non-current liabilities of discontinued operations

 

 

-

 

 

 

6,920

 

Total liabilities of discontinued operations

 

$2,144,573

 

 

$1,642,469