Capital stock

12 Months Ended

Mar. 27, 2021

10.	Capital stock:

Authorized capital stock of the Company consists of an unlimited number of no par value preferred shares and two classes of common stock outstanding: Class A and Class B. Class A voting shares receive one vote per share. The Class B multiple voting shares have substantially the same rights as the Class A voting shares except that each share of Class B multiple voting shares receives 10 votes per share. The issued and outstanding shares are as follows:


	Class A common stock				Class B common stock				Total common stock
	Number of Shares		Amount		Number of Shares		Amount		Number of Shares		Amount
Balance as of March 30, 2019		10,242,911	$	35,593		7,717,970	$	57,755		17,960,881	$	93,348

Exercise of stock options		10,000		20		—		—		10,000		20

Balance as of March 28, 2020		10,252,911		35,613		7,717,970	$	57,755		17,970,881	$	93,368

Exercise of stock options and warrants		358,062		1,748		—		—		358,062		1,748

Balance as of March 27, 2021		10,610,973	$	37,361		7,717,970	$	57,755		18,328,943	$	95,116

On August 13, 2020, the Company was notified by NYSE American that it

was

not

compliance

with

the

continued

listing

standards

set

forth

in Section 1003(a)(ii) of the NYSE American Company Guide. That section applies if a listed company has stockholders’ equity of less than U.S. $4.0 million and has reported losses from continuing operations and/or net losses in three of its four most recent fiscal years. Furthermore, on December 9, 2020, the Company was notified by NYSE American that it was not in compliance with the continued listing standards set forth in Section 1003(a)(i) of the Company Guide. That section applies if a listed company has stockholders’ equity of less than U.S. $2.0 million and has reported losses from continuing operations and/or net losses in two of its three most recent fiscal years.

On October 22, 2020, the Company received notice that NYSE American had accepted the Company’s plan that was submitted on September 6, 2020, to regain compliance with the continued listing standards. The Company has been granted a plan period through February 6, 2022 to regain compliance.

The Company is subject to periodic review by NYSE American during the Plan Period. If the Company does not regain compliance by the end of the Plan

Period

, or if the Company does not make progress consistent with the plan during the Plan Period, NYSE American may initiate delisting procedures as appropriate.