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Note 16 - Subsequent Events | 12 Months Ended
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Jan. 02, 2022
Notes to Financial Statements |
Subsequent Events [Text Block] | NOTE 16-SUBSEQUENT EVENTS Appointment of New CFO and SVP, Finance On February 1, 2022, QuickLogic Corporation (the “Company”) appointed Elias Nader, 57, as its Chief Financial Officer and Senior Vice President ("SVP") of Finance, effective February 1, 2022. In this role, Mr. Nader will lead the global finance organization and assume the duties of the Company’s principal financial officer and principal accounting officer. At that time, Mr. Anthony Contos, the Company’s then interim Chief Accounting Officer, ceased serving in this role and no longer serves as the Company’s principal financial officer and principal accounting officer effective February 4, 2022. There are no family relationships between Mr. Nader and any executive officer or director of the Company, there are no understandings or arrangements between Mr. Nader and any other person pursuant to which Mr. Nader was appointed as Chief Financial Officer and SVP of Finance and Mr. Nader has no transactions reportable under Item 404(a) of Regulation S-K. Share Subscription Agreement On February 9, 2022, the Company entered into Common Stock Purchase Agreements with certain investors for the sale of an aggregate of 310,000 shares of common stock, par value $0.001 (the “Common Stock”), in a registered direct offering. These share placements resulted in gross cash proceeds of approximately $1.5 million (the “Financing”). The purchase price for each share of Common Stock in this placement was $4.78. The Company currently intends to use the net proceeds from the Financing for working capital, the development of next generation eFPGA-based products, including AI and open-source hardware or software, and general corporate purposes. The Company may also use a portion of the net proceeds to acquire and/or license technologies and acquire and/or invest in businesses when the opportunity arises; however, we currently have no commitments or agreements and are not involved in any negotiations with respect to any such transactions.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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