Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Mar. 28, 2020 | May 20, 2020 | Sep. 28, 2019 | |
Document Information [Line Items] | |||
Entity Registrant Name | GIGA TRONICS INC | ||
Entity Central Index Key | 0000719274 | ||
Trading Symbol | giga | ||
Current Fiscal Year End Date | --03-28 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Interactive Data Current | Yes | ||
Entity Common Stock, Shares Outstanding (in shares) | 2,625,856 | ||
Entity Public Float | $ 4,053,469 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Mar. 28, 2020 | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Title of 12(b) Security | Common Stock, No par value |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Mar. 28, 2020 | Mar. 30, 2019 | |
Current assets: | |||
Cash and cash-equivalents | $ 657,000 | $ 878,000 | |
Trade accounts receivable, net of allowance of $8 and $8, respectively | 932,000 | 568,000 | |
Inventories, net | 3,261,000 | 2,734,000 | |
Prepaid expenses and other current assets | 2,209,000 | 1,354,000 | |
Total current assets | 7,059,000 | 5,534,000 | |
Property and equipment, net | 508,000 | 569,000 | |
Right of use asset | 1,183,000 | ||
Other long term assets | 176,000 | 176,000 | |
Total assets | 8,926,000 | 6,279,000 | |
Liabilities and shareholders' equity | |||
Accounts payable | 803,000 | 747,000 | |
Loans payable, net of discounts and issuance costs | 1,320,000 | 1,781,000 | |
Accrued payroll and benefits | 300,000 | 476,000 | |
Deferred revenue | 159,000 | ||
Deferred rent | 74,000 | ||
Lease obligations | 426,000 | 41,000 | |
Deferred liability related to asset sale | 40,000 | ||
Other current liabilities | 364,000 | 754,000 | |
Total current liabilities | 3,372,000 | 3,913,000 | |
Other non-current liabilities | 119,000 | 172,000 | |
Long term deferred rent | 358,000 | [1] | |
Long term lease obligations | 1,135,000 | 21,000 | |
Total long term liabilities | 1,254,000 | 551,000 | |
Commitments and contingencies | |||
Shareholders' equity: | |||
Common stock; no par value; Authorized – 13,333,333 shares; 2,635,856 shares at March 28, 2020 and 757,367 shares at March 30, 2019 issued and outstanding | 31,952,000 | 25,557,000 | |
Accumulated deficit | (30,574,000) | (28,548,000) | |
Total shareholders' equity | 4,300,000 | 1,815,000 | |
Total liabilities and shareholders' equity | 8,926,000 | 6,279,000 | |
Series A Preferred Stock [Member] | |||
Shareholders' equity: | |||
Preferred stock | |||
Series B, C, and D Preferred Stock [Member] | |||
Shareholders' equity: | |||
Preferred stock | 2,745,000 | 2,911,000 | |
Series E Preferred Stock [Member] | |||
Shareholders' equity: | |||
Preferred stock | $ 177,000 | $ 1,895,000 | |
[1] | Represents noncurrent portion of deferred rent reclassified to Operating lease liability - non-current portion. |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Mar. 28, 2020 | Mar. 30, 2019 |
Trade accounts receivable, allowance | $ 8 | $ 8 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, authorized (in shares) | 1,000,000 | 1,000,000 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 13,333,333 | 13,333,333 |
Common stock, issued (in shares) | 2,635,856 | 757,367 |
Common stock, outstanding (in shares) | 2,635,856 | 757,367 |
Series A Preferred Stock [Member] | ||
Preferred stock, authorized (in shares) | 250,000 | 250,000 |
Preferred stock, outstanding (in shares) | 0 | 0 |
Preferred stock, issued (in shares) | 0 | 0 |
Series B, C, and D Preferred Stock [Member] | ||
Preferred stock, authorized (in shares) | 19,500 | 19,500 |
Preferred stock, outstanding (in shares) | 17,781.64 | 18,533.51 |
Preferred stock, liquidation preference | $ 3,367 | $ 3,540 |
Series E Preferred Stock [Member] | ||
Preferred stock, authorized (in shares) | 100,000 | 100,000 |
Preferred stock, outstanding (in shares) | 9,200 | 98,400 |
Preferred stock, issued (in shares) | 100,000 | 100,000 |
Preferred stock, liquidation preference | $ 345 | $ 3,690 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |
Mar. 28, 2020 | Mar. 30, 2019 | |
Revenue | $ 11,768 | $ 11,148 |
Cost of sales | 7,180 | 6,425 |
Gross profit | 4,588 | 4,723 |
Operating expenses: | ||
Engineering | 1,552 | 1,304 |
Selling, general and administrative | 3,469 | 3,707 |
Total operating expenses | 5,021 | 5,011 |
Operating loss | (433) | (288) |
Interest expense, net | (252) | (607) |
Loss before income taxes | (685) | (895) |
Provision for income taxes | 2 | 42 |
Net loss | (687) | (937) |
Deemed dividend on Series E shares | (94) | (106) |
Cumulative dividends on Series E shares | (1,245) | |
Net loss attributable to common shareholders | $ (2,026) | $ (1,043) |
Loss per common share – basic and diluted (in dollars per share) | $ (1.64) | $ (1.45) |
Weighted average common shares used in per share calculation: | ||
Basic and diluted (in shares) | 1,232 | 718 |
Product [Member] | ||
Revenue | $ 3,521 | $ 2,123 |
Service [Member] | ||
Revenue | $ 8,247 | $ 9,025 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands | Cumulative Effect, Period of Adoption, Adjustment [Member]Preferred Stock Including Additional Paid in Capital [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Common Stock Including Additional Paid in Capital [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Series E Preferred Stock [Member]Preferred Stock Including Additional Paid in Capital [Member] | Series E Preferred Stock [Member]Common Stock Including Additional Paid in Capital [Member] | Series E Preferred Stock [Member]Retained Earnings [Member] | Series E Preferred Stock [Member] | Series B Preferred Stock [Member]Preferred Stock Including Additional Paid in Capital [Member] | Series B Preferred Stock [Member]Common Stock Including Additional Paid in Capital [Member] | Series B Preferred Stock [Member]Retained Earnings [Member] | Series B Preferred Stock [Member] | Preferred Stock Including Additional Paid in Capital [Member] | Common Stock Including Additional Paid in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Mar. 31, 2018 | 62,334 | 687,510 | ||||||||||||||
Balance at Mar. 31, 2018 | $ 1,177 | $ 1,177 | $ 3,613 | $ 25,200 | $ (28,682) | $ 131 | ||||||||||
Net loss | (937) | (937) | ||||||||||||||
Restricted stock granted (in shares) | 20,667 | |||||||||||||||
Restricted stock granted | ||||||||||||||||
Restricted stock forfeited (in shares) | (1,667) | |||||||||||||||
Restricted stock forfeited | ||||||||||||||||
Stock based compensation | $ 245 | 245 | ||||||||||||||
Shares issued related to loan agreement (in shares) | 2,000 | |||||||||||||||
Shares issued related to loan agreement | ||||||||||||||||
Stock issuance, net of issuance costs (in shares) | 56,200 | 56,200 | ||||||||||||||
Stock issuance, net of issuance costs | $ 1,193 | $ 1,193 | ||||||||||||||
Warrants exercises (in shares) | 38,190 | |||||||||||||||
Warrants exercises | $ 112 | 112 | ||||||||||||||
Series E dividends | (106) | (106) | ||||||||||||||
Preferred stock converted to common (in shares) | (1,600) | 10,667 | ||||||||||||||
Preferred stock converted to common | ||||||||||||||||
Balance (in shares) at Mar. 30, 2019 | 116,934 | 757,367 | ||||||||||||||
Balance at Mar. 30, 2019 | $ 4,806 | $ 25,557 | (28,548) | 1,815 | ||||||||||||
Net loss | (687) | (687) | ||||||||||||||
Restricted stock granted (in shares) | 10,000 | |||||||||||||||
Restricted stock granted | ||||||||||||||||
Restricted stock forfeited (in shares) | (1,332) | |||||||||||||||
Restricted stock forfeited | ||||||||||||||||
Stock based compensation | $ 301 | 301 | ||||||||||||||
Shares issued related to loan agreement (in shares) | 167 | |||||||||||||||
Shares issued related to loan agreement | ||||||||||||||||
Stock issuance, net of issuance costs (in shares) | 0 | 846,001 | ||||||||||||||
Stock issuance, net of issuance costs | $ 2,564 | 2,564 | ||||||||||||||
Warrants exercises (in shares) | 84,095 | |||||||||||||||
Warrants exercises | $ 212 | 212 | ||||||||||||||
Series E dividends | (94) | |||||||||||||||
Preferred stock converted to common (in shares) | (89,200) | 890,000 | (752) | 5,012 | ||||||||||||
Preferred stock converted to common | $ (1,716) | $ 2,961 | (1,245) | $ (166) | $ 166 | |||||||||||
Fractional shares due to reverse stock split (in shares) | (81) | |||||||||||||||
Series E dividends (in shares) | 44,627 | |||||||||||||||
Series E dividends | $ 189 | 95 | ||||||||||||||
Stock issuance, net of issuance costs | $ (2) | $ 2 | ||||||||||||||
Balance (in shares) at Mar. 28, 2020 | 26,982 | 2,635,856 | ||||||||||||||
Balance at Mar. 28, 2020 | $ 2,922 | $ 31,952 | $ (30,574) | $ 4,300 |
Consolidated Statements of Sh_2
Consolidated Statements of Shareholders' Equity (Parentheticals) $ in Thousands | 12 Months Ended |
Mar. 30, 2019USD ($) | |
Preferred Stock Including Additional Paid in Capital [Member] | Series E Preferred Stock [Member] | |
Shares issued, issuance cost | $ 212 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Mar. 28, 2020 | Mar. 30, 2019 | |
Cash flows from operating activities: | ||
Net loss | $ (687,000) | $ (937,000) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation | 184,000 | 264,000 |
Stock based compensation | 301,000 | 245,000 |
Amortization of discount on debt | 20,000 | 224,000 |
Accrued interest and fees on loan payable | (257,000) | 111,000 |
Change in deferred rent | (3,000) | (55,000) |
Changes in operating assets and liabilities: | ||
Trade accounts receivable | (364,000) | (204,000) |
Inventories | (527,000) | 1,172,000 |
Prepaid expenses and other current assets | (855,000) | (1,078,000) |
Right of use asset | 178,000 | |
Accounts payable | 56,000 | (249,000) |
Accrued payroll and benefits | (176,000) | 133,000 |
Deferred revenue | 159,000 | (807,000) |
Other current and non-current liabilities | (388,000) | (126,000) |
Net cash used in operating activities | (2,359,000) | (1,307,000) |
Cash flows from investing activities: | ||
Purchases of property and equipment | (123,000) | |
Net cash used in investing activities | (123,000) | |
Cash flows from financing activities: | ||
Payments on leases | (291,000) | (52,000) |
Repayments of borrowings | (1,676,000) | (552,000) |
Proceeds from loan payable, net of issuance costs | 1,453,000 | |
Proceeds from issuance of stock, net of issuance costs | 2,564,000 | 1,192,000 |
Proceeds from exercise of warrants | 211,000 | 112,000 |
Net cash provided by financing activities | 2,261,000 | 700,000 |
Decrease in cash and cash-equivalents | (221,000) | (607,000) |
Beginning cash and cash-equivalents | 878,000 | 1,485,000 |
Ending cash and cash-equivalents | 657,000 | 878,000 |
Supplementary disclosure of cash flow information: | ||
Cash paid for income taxes | 57,000 | 32,000 |
Cash paid for interest | 402,000 | 248,000 |
Supplementary disclosure of noncash investing and financing activities: | ||
Cumulative effect of adoption ASC 606 on inventory | (1,581,000) | |
Cumulative effect of adoption ASC 606 on prepaid expenses and other current assets | 189,000 | |
Cumulative effect of adoption of ASC 606 on deferred revenue | 2,567,000 | |
Cumulative effect of adoption of ASC 842 on right of use assets | 1,361,000 | |
Cumulative effect of adoption of ASC 842 on deferred rent | 429,000 | |
Cumulative effect of adoption of ASC 842 on lease liability | 1,790,000 | |
Issuance of dividends in kind | $ (190,000) |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Mar. 28, 2020 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 1 Summary of Significant Accounting Policies The accompanying consolidated financial statements include the accounts of Giga-tronics Incorporated (“Giga-tronics”) and its wholly-owned subsidiary, Microsource Incorporated (“Microsource”), collectively the “Company”. The Company’s corporate office and manufacturing facilities are located in Dublin, California. On December 12, 2019, one fifteen 9. Principles of Consolidation Use of Estimates Fiscal Year 52 53 March. 2020 March 28, 2020 52 2019 March 30, 2019, 52 Leases In February 2016, 2016 02 Leases 842 not 12 12 842. 842 840 842 March 31, 2019. July 2018, No. 2018 11, 842 842 one 2016 02 March 31, 2019 $1.4 $1.8 no 2016 02 Revenue Recognition and Deferred Revenue April 1, 2018, 2014 09 2015 2017 606, Revenue from Contracts with Customers (“ASC 606” not In determining the appropriate amount of revenue to be recognized as it fulfills its obligations under its agreements, the Company performs the following steps: (i) identifies the promised goods or services in the contract; (ii) determines whether the promised goods or services are performance obligations including whether they are distinct in the context of the contract; (iii) measures the transaction price, including the constraint on variable consideration; (iv) allocates the transaction price to the performance obligations based on estimated selling prices; and (v) recognizes revenue when (or as) the Company satisfies each performance obligation. The Company generates revenue through the design, manufacture, and sale of products used in the defense industry to major prime defense contractors, the U.S. armed services and research institutes. There is generally one not Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in ASC Topic 606. ● Design and manufacturing services ● Product supply – Distinct goods or services that are substantially the same ● Engineering services The majority of the Company’s contracts have a single performance obligation as the promise to transfer the individual goods or services is not not Transaction Price The Company has both fixed and variable consideration. Under the Company’s highly engineered design and manufacturing arrangements, advance payments and unit prices are considered fixed, as product is not may not Allocation of Consideration As part of the accounting for arrangements that contain multiple performance obligations, the Company must develop assumptions that require judgment to determine the stand-alone selling price of each performance obligation identified in the contract. When a contract contains more than one Timing of Recognition Significant management judgment is required to determine the level of effort required under an arrangement and the period over which the Company expects to complete its performance obligations under the arrangement. The selection of the method to measure progress towards completion requires judgment and is based on the nature of the products or services to be provided. The Company generally uses the cost-to-cost measure of progress as this measure best depicts the transfer of control to the customer which occurs as we incur costs on our contracts. Under the cost-to-cost method, the extent of progress towards completion is measured based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation. Revenue is recognized for design and manufacturing services and for engineering services over time proportionate to the costs that the Company has incurred to perform the services using the cost-to-cost input method and for products at a point in time. Changes in Estimates The effect of a contract modification on the transaction price and the measure of progress for the performance obligation to which it relates, is recognized as an adjustment to revenue (either as an increase in or a reduction of revenue) on a cumulative catch-up basis. For contracts using the cost-to-cost method, management reviews the progress and execution of the performance obligations. This process requires management judgment relative to estimating contract revenue and cost and making assumptions for delivery schedule. This process requires management’s judgment to make reasonably dependable cost estimates. Since certain contracts extend over a longer period of time, the impact of revisions in cost and revenue estimates during the progress of work may Balance Sheet Presentation The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables (contract assets), and deferred revenue (contract liabilities) on the Consolidated Balance Sheet. Under the typical payment terms of over time contracts, the customer pays either performance-based payments or progress payments. Amounts billed and due from customers are classified as receivables on the Consolidated Balance Sheet. Interim payments may may not Remaining performance obligations represent the transaction price of firm orders for which work has not Conversion of convertible preferred stock 260 10 S99, Earnings Per Share 470 20 40 13 40 17, Debt with conversion and other options 470 20 40 13 40 17 1 2 3 • Reduction of the original conversion price (thereby resulting in the issuance of additional shares of stock) • Issuance of warrants or other securities not • Payment of cash or other consideration (sometimes called a convertible stock sweetener) to those shareholders who convert during the specified time period. The additional consideration is usually offered to induce prompt conversion of the stock to another class of equity. ASC 470 20 40 14 not If a conversion of preferred stock is an inducement offer pursuant to ASC 470, 260 10 S99 2. 17. New Accounting Standards In June 2018, 2018 07, 2020, not In February 2016, 2016 02, 842 2016 02 March 31, 2019 not no Practical expedients elected The Company has elected to apply the package of practical expedients under ASU 2016 02 not not not The adoption of the new leases standard resulted in the following adjustments to the consolidated balance sheet as of March 30, 2019 ( Balance at 3/30/2019 Adoption Adjustment Balance at 3/31/2019 Assets: Right of use assets- Operating lease $ — $ 1,361 $ 1,361 Right of use assets- Finance lease 49 49 Property and equipment, net (a) 49 (49 ) — Liabilities: Deferred rent (b) $ 71 $ (71 ) $ — Operating lease liability, current portion — 337 337 Finance lease obligation, current portion — 41 41 Capital lease obligation, current portion (c) 41 (41 ) — Long term deferred rent (d) 358 (358 ) — Long term obligations – capital lease (e) 19 (19 ) — Operating lease liability, non-current portion — 1,453 1,453 Finance lease obligation, long-term portion — 19 19 (a) Represents net book value of capital lease assets reclassified to Finance right of use assets. (b) Represents current portion of deferred rent reclassified to Operating lease obligation, current portion. (c) Represents current portion of capital lease liability reclassified to Finance lease obligation - current portion. (d) Represents noncurrent portion of deferred rent reclassified to Operating lease liability - non-current portion. (e) Represents noncurrent portion of capital lease obligation reclassified to Finance lease obligation - non-current portion. Adoption of the standards related to leases had no Accrued Warranty one three Inventories first first not Research and Development $1.6 $1.3 March 28, 2020 March 30, 2019, Property and Equipment three ten The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not March 28, 2020 March 30, 2019, no Warrants to Purchase Common Stock 815 Derivatives and Hedging Embedded Derivatives Income Taxes not The Company considers all tax positions recognized in its financial statements for the likelihood of realization. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the positions taken or the amounts of the positions that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not not 50 Software Development Costs S tock -based Compensation 2018, 400,000 $0.33 4 2 fourth first 1/48 36 The cash flows resulting from the tax benefits resulting from tax deductions in excess of the compensation cost recognized for those options (excess tax benefits) are classified as cash flows from financing in the statements of cash flows. These excess tax benefits were not March 28, 2020 March 30, 2019. In calculating compensation related to stock option grants, the fair value of each stock option is estimated on the date of grant using the Black-Scholes-Merton option-pricing model. The computation of expected volatility used in the Black-Scholes- Merton option-pricing model is based on the historical volatility of Giga-tronics’ share price. The expected term is estimated based on a review of historical employee exercise behavior with respect to option grants. The risk free interest rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of the grant. Expected dividend yield was not not no The fair value of restricted stock awards is based on the fair value of the underlying shares at the date of the grant. Management makes estimates regarding pre-vesting forfeitures that will impact timing of compensation expense recognized for stock option and restricted stock awards. Earnings or Loss Per Common Share not two Comprehensive Income or Loss no Financial Instruments and Concentration of Credit Risk not March 28, 2020, three 96% March 30, 2019, three 97% Fair Value of Financial Instruments and Fair Value Measurements 1 1 not 2 3 |
Note 2 - Cash and Cash-equivale
Note 2 - Cash and Cash-equivalents | 12 Months Ended |
Mar. 28, 2020 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | 2 Cash and Cash-equivalents Cash and cash-equivalents of $657,000 $878,000 March 28, 2020 March 30, 2019, March 28, 2020, $407,000 |
Note 3 - Inventories, Net
Note 3 - Inventories, Net | 12 Months Ended |
Mar. 28, 2020 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 3 Inventories, net Inventories, net consisted of the following: (Dollars in thousands) March 28 , 20 20 March 3 0 , 201 9 Raw materials $ 890 $ 759 Work-in-progress 1,828 1,523 Finished goods 263 57 Demonstration inventory 280 395 Total $ 3,261 $ 2,734 |
Note 4 - Property, Plant and Eq
Note 4 - Property, Plant and Equipment, Net | 12 Months Ended |
Mar. 28, 2020 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 4 Property, Plant and Equipment, net Property, plant and equipment, net is comprised of the following: (Dollars in thousands) March 28 , 20 20 March 3 0 , 201 9 Leasehold improvements $ 642 633 Machinery and equipment 3,599 4,333 Computer and software 681 681 Furniture and office equipment 196 227 Subtotal 5,118 5,874 Less: accumulated depreciation (4,610 ) (5,305 ) Total $ 508 $ 569 |
Note 5 - Financed Receivables
Note 5 - Financed Receivables | 12 Months Ended |
Mar. 28, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 5 Financed Receivables On March 11, 2019, May 6, 2015 ( Under the Restated Financing Agreement, Western Alliance Bank may 85% $2.5 $500,000 Under the Restated Financing Agreement, interest accrues on outstanding amounts at an annual rate equal to the greater of prime or 4.5% one $14,700, two no may The Restated Financing Agreement contains customary events of default, including, among others: non-payment of principal, interest or other amounts when due; providing false or misleading representations and information; Western Alliance Bank failing to have an enforceable first 500 may As of March 28, 2020 March 30, 2019, $527,468 zero |
Note 6 - Term Loan, Revolving L
Note 6 - Term Loan, Revolving Line of Credit and Warrants | 12 Months Ended |
Mar. 28, 2020 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | 6 Term Loan, Revolving Line of Credit and Warrants On April 27, 2017, $1.5 April 28, 2017 ( “2017 2017 April 27, 2019, 2017 16% 9.5% 6.5% $100,000 $76,000 April 27, 2017, $24,000 $1,000 first In December 2018, 2017 April 27, 2019 November 1, 2019, May 1, 2019 $75,000 May 1, 2019 $500,000 March 30, 2019, On March 11, 2019, 2017 March 1, 2020 On June 28, 2019, 2017 December 28, 2019, not 2017 $11 first three 2020 January 31, 2020. On January 31, 2020, 2017 $16,500; March 1, 2020 March 1, 2021; $75,000 February 1, 2020 $57,700 first 16%, 9.5% 6.5% December 31, 2019, As of March 28, 2020 March 30, 2019, $792,300 $1.8 The Company anticipates it will need to achieve significant product shipments and resulting cash inflows and or seek additional funds through the issuance of new debt or equity securities to repay the 2017 |
Note 7 - Fair Value
Note 7 - Fair Value | 12 Months Ended |
Mar. 28, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 7 Fair Value Pursuant to the accounting guidance for fair value measurement and its subsequent updates, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. The accounting guidance establishes a hierarchy for inputs used in measuring fair value that minimizes the use of unobservable inputs by requiring the use of observable market data when available. Observable inputs are inputs that market participants would use in pricing the asset or liability based on active market data. Unobservable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability based on the best information available in the circumstances. The fair value hierarchy is broken down into the three • Level 1 1 • Level 2 2 • Level 3 no The carrying amounts of the Company’s cash and cash-equivalents and line of credit approximate their fair values at each balance sheet date due to the short-term maturity of these financial instruments, and generally result in inputs categorized as Level 1 2 There were no no March 28, 2020 March 30, 2019. |
Note 8 - Sale of Common Stock
Note 8 - Sale of Common Stock | 12 Months Ended |
Mar. 28, 2020 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 8 Sale of Common Stock On November 8, 2019, 699,333 $3.75 $2.1 20,980 $4.50 five In addition, on November 8, 2019, 896,636 88,600 9,200 $345,000 March 28, 2020. On March 11, 2020, two 146,668 $3.75 $550,004. March 11, 2020. $510,000. |
Note 9 - Reverse Stock Split
Note 9 - Reverse Stock Split | 12 Months Ended |
Mar. 28, 2020 | |
Notes to Financial Statements | |
Reverse Stock Split [Text Block] | 9 Reverse Stock Split On December 12, 2019, 1 15 The reverse stock split reduced the number of shares of common stock outstanding from 37,154,730 2,476,982 December 12, 2019. 200 13,333,333 As a result of the reverse stock split, each of the Company’s holders of common stock received one 15 No All share and per share amounts included in the financial statements and notes have been adjusted to reflect the effect of the reverse stock split. |
Note 10 - Selling and Advertisi
Note 10 - Selling and Advertising Expenses | 12 Months Ended |
Mar. 28, 2020 | |
Notes to Financial Statements | |
Other Operating Income and Expense [Text Block] | 10 Selling and Advertising Expenses Selling expenses consist primarily of salaries to employees and commissions paid to various sales representatives and marketing agencies. Commission expense totaled $15,000 $33,000 2020 2019, $20,000 zero 2020 2019, |
Note 11 - Significant Customer
Note 11 - Significant Customer and Industry Segment Information | 12 Months Ended |
Mar. 28, 2020 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 11 Significant Customers and Industry Segment Information The Company has two ten two The Giga-tronics Division designs, manufactures and markets a family of functional test products for the RADAR and Electronic Warfare (RADAR/EW) segment of the defense electronics market. Our RADAR/EW test products are used to evaluate and improve the performance of RADAR/EW systems. The accounting policies for the segments are the same as those described in the "Summary of Significant Accounting Policies". The Company evaluates the performance of its segments and allocates resources to them based on earnings before income taxes. Segment net sales include sales to external customers. Inter-segment activities are eliminated in consolidation. Assets include accounts receivable, inventories, equipment, cash, deferred income taxes, prepaid expenses and other long- term assets. The Company accounts for inter-segment sales and transfers at terms that allow a reasonable profit to the seller. During the periods reported there were no The Company's reportable operating segments are strategic business units that offer different products and services. They are managed separately because each business utilizes different technology and requires different accounting systems. The Company’s chief operating decision maker is considered to be the Company’s Chief Executive Officer (“CEO”). The CEO reviews financial information presented on a consolidated basis accompanied by disaggregated information about revenues and pre-tax income or loss by operating segment. The tables below present information for fiscal years 2020 2019. March 28 , 20 20 (Dollars in thousands) Giga-tronics Division Microsource Total Revenue $ 3,521 $ 8,247 $ 11,768 Interest expense, net (252 ) — (252 ) Depreciation 184 — 184 Income (loss) before income taxes (3,392 ) 2,707 (685 ) Assets 6,011 2,915 8,926 March 30, 2019 (Dollars in thousands) Giga-tronics Division Microsource Total Revenue $ 1,935 $ 9,213 $ 11,148 Interest expense, net (607 ) — (607 ) Depreciation 257 7 264 Income (loss) before income taxes (4,521 ) 3,626 (895 ) Assets 3,979 2,300 6,279 The Company’s Giga-tronics Division and Microsource segments sell to agencies of the U.S. government and U.S. defense- related customers. In fiscal 2020 2019, 85% 98% 2020, 45% second 19% 2020 third 18% 2020 During fiscal 2019, 57% second 26% 2019 Export sales accounted for 1% 1% 2020 2019, March 28, 2020 March 30, 2019 Europe $ 13 $ 14 Asia 10 12 Rest of world 110 68 Total $ 133 $ 94 |
Note 12 - Loss Per Common Share
Note 12 - Loss Per Common Share | 12 Months Ended |
Mar. 28, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 12 Loss per Common Share The stock options, restricted stock, convertible preferred stock and warrants not Fiscal Years Ended March 28, 2020 March 30, 2019 Stock options 241 182 Restricted stock awards 20 22 Convertible preferred stock 180 780 Warrants 157 230 598 1,214 |
Note 13 - Income Taxes
Note 13 - Income Taxes | 12 Months Ended |
Mar. 28, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 13 Income Taxes Following are the components of the provision for income taxes: Fiscal years ended (in thousands) March 28, 2020 March 30, 2019 Current Federal $ - $ - State 2 42 2 42 Deferred Federal 123 2 State 40 39 163 41 Change in liability for uncertain tax positions (9 ) 1 Change in valuation allowance (154 ) (42 ) Provision for income taxes $ 2 $ 42 The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities are as follows: Fiscal years ended March 28, 2020 March 30, 2019 (in thousands) Net operating loss carryforwards $ 11,568 $ 11,365 Income tax credits 365 349 Inventory reserves and additional costs capitalized 865 795 Fixed asset depreciation 23 17 Accrued vacation 55 49 Accrued bonuses - 64 Accrued warranty 9 29 Accrued commissions 36 71 Deferred rent - 21 Allowance for doubtful accounts 2 2 Non-qualified stock options 91 81 Unrealized warrant gain (33 ) (33 ) State tax benefit (8 ) 9 Total deferred tax assets 12,973 12,819 Valuation allowances (12,973 ) (12,819 ) $ - $ - The following summarizes the difference between the income tax expense and the amount computed by applying the statutory federal income tax rates of 21% March 28, 2020 March 30, 2019, March 28, 2020 March 30, 2019: Year Ended (in thousands except percentages) March 28, 2020 March 30,2019 Statutory federal income tax (benefit) $ (164 ) 21.0 % $ (210 ) 21.0 % Valuation allowance 154 (19.8 ) (42 ) 4.2 State income tax, net of federal benefit (54 ) 6.9 (70 ) 7.0 Net operating loss expiration - 0 39 (3.9 ) Non tax-deductible expenses 81 (10.4 ) (15 ) 1.5 Tax credits generated (18 ) 2.3 (2 ) 0.2 Adoption of ASC 606 adjustment - 0 329 (32.9 ) Other 3 (0.5 ) 13 (1.3 ) Effective income tax $ 2 (0.5 %) $ 42 (4.2 %) The increase in valuation allowance from March 28, 2020 March 30, 2019 $154,000. As of March 28, 2020, $47,040,000 $24,198,000 2022 2038 2029 2039, $740,000 March 28, 2020 may 382. December 31, 2017. 2020 January 1, 2021. 2032 2037 The Company has recorded a valuation allowance to reflect the estimated amount of deferred tax assets, which may not As of March 28, 2020, $132,000 not The Company files U.S federal, California and New Hampshire state tax returns. The Company is generally no 2015 2014 A reconciliation of the beginning and ending amount of the liability for uncertain tax positions, excluding potential interest and penalties, is as follows: Fiscal Year 2020 Fiscal Year 2019 Balance as of beginning of year $ 123,000 $ 122,000 Increase based on current year tax positions 9,000 1,000 Reductions for prior year tax positions - - Balance as of end of year $ 132,000 $ 123,000 The total amount of interest and penalties related to unrecognized tax benefits at March 28, 2020 not not not twelve 12 |
Note 14 - Shared-based Compensa
Note 14 - Shared-based Compensation and Employee Benefits Plans | 12 Months Ended |
Mar. 28, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 14 Stock based Compensation and Employee Benefit Plans The Company maintains a 2018 166,667 2018 no 2005 2005 2000 no Outstanding options generally vest in one four five not 10 may March 28, 2020, no March 28, 2020, 28,493 2018 ten Stock Options The weighted average grant date fair value of stock options granted during the fiscal years ended March 28, 2020 March 30, 2019 $4.98 $3.75, Fiscal years ended March 28, 2020 March 30, 2019 Dividend yield — — Expected volatility 105 % 96 % Risk-free interest rate 2.21 % 2.79 % Expected term (years) 8.35 8.35 A summary of the changes in stock options outstanding for the fiscal years ended March 28, 2020 March 30, 2019 (Dollars in thousands except share prices) Shares Weighted Average Exercise Price per share Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding at March 31, 2018 98,580 $ 8.40 8.0 $ — Granted 100,267 4.65 9.6 Forfeited / Expired (16,481 ) 10.35 Outstanding at March 30, 2019 182,366 $ 6.15 8.4 $ — Granted 73,880 4.98 9.2 Forfeited / Expired (15,488 ) 5.13 Outstanding at March 28, 2020 240,758 $ 5.86 7.9 $ — Exercisable at March 28, 2020 87,242 $ 7.51 6.2 $ — At March 28, 2020, expected to vest in the future 196,846 $ 6.07 7.7 $ — As of March 28, 2020, $134,322 2005 2018 2.7 48,956 14,093 March 28, 2020 March 30, 2019, March 28, 2020 March 30, 2019 $206,255 $90,000, no 2020 2019. March 28, 2020 March 30, 2019 $213,000 $120,000, Restricted Stock The Company granted 10,000 March 28, 2020. 20,667 2019. March 28, 2020, $24,100 0.995 2020 2019 $88,000 $125,000, A summary of the changes in non-vested restricted stock awards outstanding for the fiscal years ended March 28, 2020 March 30, 2019 Shares Weighted Average Grant Date Fair Value Non-vested at March 31, 2018 19,997 $ 9.75 Granted 20,667 4.65 Vested (16,667 ) 4.80 Forfeited or cancelled (1,654 ) 11.85 Non-vested at March 30, 2019 22,343 $ 8.40 Granted 10,000 3.97 Vested (21,009 ) 8.25 Forfeited or cancelled (1,334 ) 12.00 Non-vested at March 28, 2020 10,000 $ 3.97 401 401 may 100% four 2020 2019 $22,000 $18,000, |
Note 15 - Commitments and Conti
Note 15 - Commitments and Contingencies | 12 Months Ended |
Mar. 28, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 15 Commitments and Contingencies Operating leases Building – January 5, 2017, seventy-seven 23,873 April 1, 2017. In December 2018, 1,200 February 1, 2019 January 31, 2022. March 1, 2020, 2,400 February 28, 2023. Per the terms of the Company’s lease agreements, the Company does not not not Lease costs For the fiscal year ended (in thousands): March 28, Classification 2020 Operating lease costs Operating expenses $ 518 Finance lease: Amortization of lease asset Depreciation and amortization 34 Interest on lease liability Interest expense 5 Total lease costs $ 557 Other information (in thousands except weighted average amounts): For the fiscal year ended March 28, 2020 Operating leases Finance leases Operating cash used for leases $ 572 — Financing cash used for leases — $ 46 Weighted-average remaining lease term 3.39 0.46 Weighted average discount rate 6.50 % 12.00 % Future lease payments as of March 28, 2020 Operating leases Finance leases Total 2021 $ 488 $ 11 $ 499 2022 503 20 523 2023 515 — 515 2024 209 — 209 Thereafter — — — Total future minimum lease payments 1,715 31 1,746 Less: imputed interest (174 ) (11 ) (185 ) Present value of lease liabilities $ 1,541 $ 20 $ 1,561 |
Note 16 - Warranty Obligations
Note 16 - Warranty Obligations | 12 Months Ended |
Mar. 28, 2020 | |
Notes to Financial Statements | |
Product Warranty Disclosure [Text Block] | 16 Warranty Obligations The Company records a liability in cost of sales for estimated warranty obligations at the date products are sold. Adjustments are made as new information becomes available. The following provides a reconciliation of changes in the Company’s warranty reserve. The Company provides no (In thousands) March 28 , 20 20 March 3 0 , 201 9 Balance as of beginning of year $ 104 $ 164 Provision, net (58 ) (7 ) Warranty costs incurred (12 ) (53 ) Balance as of end of year $ 34 $ 104 |
Note 17 - Preferred Stock and W
Note 17 - Preferred Stock and Warrants | 12 Months Ended |
Mar. 28, 2020 | |
Notes to Financial Statements | |
Preferred Stock [Text Block] | 17 Preferred Stock and Warrants Series B, C, D Convertible Voting Perpetual Preferred Stock and Warrants On November 10, 2011, $2,199,000 October 31, 2011. 9,997 $220 $2.0 $202,000 no On February 19, 2013, 3,424.65 $500,000, $146.00 $457,000 $43,000. no On July 8, 2013 $817,000 5,111.86 511,186 $1.43 $858,000 $498,000 $41,000 $360,000 $498,000 $0.97 $238,000 Each share of Series B, Series C and Series D Preferred Stock is convertible into one hundred 1,017,405 $1.43 February 2015, May 2015. February 16, 2015 February 23, 2015. 1,002,818 $1.43 $1,434,000, $42,000 two 898,634 194,437 $1.78 $1.76 $137,000 $0.125 five may 14,587 February May 14, 2015, 14,587 7,216 On December 31, 2018, no 5% Series E Senior Convertible Voting Perpetual Preferred Stock On March 26, 2018, 42,800 6.0% 15 March 28, 2018. Holders of Series E Shares are entitled to receive, when, as and if declared by the Company’s Board of Directors, cumulative preferential dividends, payable semiannual in cash at a rate per annum equal to 6.0% $25.00 10 The purchase price for each Series E Share was $25.00. $1.095 $1.0 5% $57,000 5% 14,867 $3.75 During the 2019 56,200 $25.00 $1,405,000. 2019 $1.2 $212,000. 5% $56,875 5% 6.67 $3.75 For the twelve March 28, 2020, no Series E Exchange The Company completed a private exchange offer on November 7, 2019, 896,636 88,600 3 9 1933 may The table below presents information for the fiscal years ended March 28, 2020 March 30, 2019: Preferred Stock As of March 28 , 20 20 and March 3 0 , 201 9 Designated Shares Shares Issued Shares Outstanding Liquidation Preference (in thousands) Series B 10,000.00 9,997.00 9,245.13 $ 2,136 Series C 3,500.00 3,424.65 3,424.65 500 Series D 6,000.00 5,111.86 5,111.86 731 Series E 100,000.00 100,000.00 9,200.00 345 Total at March 28, 2020 119,500.00 118,533.51 26,981.64 $ 3,712 Designated Shares Shares Issued Shares Outstanding Liquidation Preference (in thousands) Series B 10,000.00 9,997.00 9,997.00 $ 2,309 Series C 3,500.00 3,424.65 3,424.65 500 Series D 6,000.00 5,111.86 5,111.86 731 Series E 100,000.00 100,000.00 98,400.00 3,690 Total at March 30, 2019 119,500.00 118,533.51 116,933.51 $ 7,230 |
Note 18 - COVID-19 (Coronavirus
Note 18 - COVID-19 (Coronavirus) | 12 Months Ended |
Mar. 28, 2020 | |
Notes to Financial Statements | |
Effect of Covid-19 Pandemic [Text Block] | 18 COVID - 19 On January 30, 2020, 19” March 2020 March 2020, 19 March 2020, Recently, COVID- 19 19 not |
Note 19 - Subsequent Events
Note 19 - Subsequent Events | 12 Months Ended |
Mar. 28, 2020 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 19 Subsequent Events On April 23, 2020, $786,200 The Loan is evidenced by a promissory note dated April 21, 2020 ( April 23, 2022. 1.0% November 1, 2020 may no A portion of the principal and accrued interest under the Promissory Note is forgivable by the U.S. Small Business Administration after eight eight may |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Mar. 28, 2020 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
Fiscal Period, Policy [Policy Text Block] | Fiscal Year 52 53 March. 2020 March 28, 2020 52 2019 March 30, 2019, 52 |
Lessee, Leases [Policy Text Block] | Leases In February 2016, 2016 02 Leases 842 not 12 12 842. 842 840 842 March 31, 2019. July 2018, No. 2018 11, 842 842 one 2016 02 March 31, 2019 $1.4 $1.8 no 2016 02 |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition and Deferred Revenue April 1, 2018, 2014 09 2015 2017 606, Revenue from Contracts with Customers (“ASC 606” not In determining the appropriate amount of revenue to be recognized as it fulfills its obligations under its agreements, the Company performs the following steps: (i) identifies the promised goods or services in the contract; (ii) determines whether the promised goods or services are performance obligations including whether they are distinct in the context of the contract; (iii) measures the transaction price, including the constraint on variable consideration; (iv) allocates the transaction price to the performance obligations based on estimated selling prices; and (v) recognizes revenue when (or as) the Company satisfies each performance obligation. The Company generates revenue through the design, manufacture, and sale of products used in the defense industry to major prime defense contractors, the U.S. armed services and research institutes. There is generally one not Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in ASC Topic 606. ● Design and manufacturing services ● Product supply – Distinct goods or services that are substantially the same ● Engineering services The majority of the Company’s contracts have a single performance obligation as the promise to transfer the individual goods or services is not not Transaction Price The Company has both fixed and variable consideration. Under the Company’s highly engineered design and manufacturing arrangements, advance payments and unit prices are considered fixed, as product is not may not Allocation of Consideration As part of the accounting for arrangements that contain multiple performance obligations, the Company must develop assumptions that require judgment to determine the stand-alone selling price of each performance obligation identified in the contract. When a contract contains more than one Timing of Recognition Significant management judgment is required to determine the level of effort required under an arrangement and the period over which the Company expects to complete its performance obligations under the arrangement. The selection of the method to measure progress towards completion requires judgment and is based on the nature of the products or services to be provided. The Company generally uses the cost-to-cost measure of progress as this measure best depicts the transfer of control to the customer which occurs as we incur costs on our contracts. Under the cost-to-cost method, the extent of progress towards completion is measured based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation. Revenue is recognized for design and manufacturing services and for engineering services over time proportionate to the costs that the Company has incurred to perform the services using the cost-to-cost input method and for products at a point in time. Changes in Estimates The effect of a contract modification on the transaction price and the measure of progress for the performance obligation to which it relates, is recognized as an adjustment to revenue (either as an increase in or a reduction of revenue) on a cumulative catch-up basis. For contracts using the cost-to-cost method, management reviews the progress and execution of the performance obligations. This process requires management judgment relative to estimating contract revenue and cost and making assumptions for delivery schedule. This process requires management’s judgment to make reasonably dependable cost estimates. Since certain contracts extend over a longer period of time, the impact of revisions in cost and revenue estimates during the progress of work may Balance Sheet Presentation The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables (contract assets), and deferred revenue (contract liabilities) on the Consolidated Balance Sheet. Under the typical payment terms of over time contracts, the customer pays either performance-based payments or progress payments. Amounts billed and due from customers are classified as receivables on the Consolidated Balance Sheet. Interim payments may may not Remaining performance obligations represent the transaction price of firm orders for which work has not |
Conversion of Convertible Preferred Stock [Policy Text Block] | Conversion of convertible preferred stock 260 10 S99, Earnings Per Share 470 20 40 13 40 17, Debt with conversion and other options 470 20 40 13 40 17 1 2 3 • Reduction of the original conversion price (thereby resulting in the issuance of additional shares of stock) • Issuance of warrants or other securities not • Payment of cash or other consideration (sometimes called a convertible stock sweetener) to those shareholders who convert during the specified time period. The additional consideration is usually offered to induce prompt conversion of the stock to another class of equity. ASC 470 20 40 14 not If a conversion of preferred stock is an inducement offer pursuant to ASC 470, 260 10 S99 2. 17. |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Standards In June 2018, 2018 07, 2020, not In February 2016, 2016 02, 842 2016 02 March 31, 2019 not no Practical expedients elected The Company has elected to apply the package of practical expedients under ASU 2016 02 not not not The adoption of the new leases standard resulted in the following adjustments to the consolidated balance sheet as of March 30, 2019 ( Balance at 3/30/2019 Adoption Adjustment Balance at 3/31/2019 Assets: Right of use assets- Operating lease $ — $ 1,361 $ 1,361 Right of use assets- Finance lease 49 49 Property and equipment, net (a) 49 (49 ) — Liabilities: Deferred rent (b) $ 71 $ (71 ) $ — Operating lease liability, current portion — 337 337 Finance lease obligation, current portion — 41 41 Capital lease obligation, current portion (c) 41 (41 ) — Long term deferred rent (d) 358 (358 ) — Long term obligations – capital lease (e) 19 (19 ) — Operating lease liability, non-current portion — 1,453 1,453 Finance lease obligation, long-term portion — 19 19 (a) Represents net book value of capital lease assets reclassified to Finance right of use assets. (b) Represents current portion of deferred rent reclassified to Operating lease obligation, current portion. (c) Represents current portion of capital lease liability reclassified to Finance lease obligation - current portion. (d) Represents noncurrent portion of deferred rent reclassified to Operating lease liability - non-current portion. (e) Represents noncurrent portion of capital lease obligation reclassified to Finance lease obligation - non-current portion. Adoption of the standards related to leases had no |
Standard Product Warranty, Policy [Policy Text Block] | Accrued Warranty one three |
Inventory, Policy [Policy Text Block] | Inventories first first not |
Research and Development Expense, Policy [Policy Text Block] | Research and Development $1.6 $1.3 March 28, 2020 March 30, 2019, |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment three ten The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not March 28, 2020 March 30, 2019, no |
Warrants to Purchase Common Stock, Policy [Policy Text Block] | Warrants to Purchase Common Stock 815 Derivatives and Hedging |
Derivatives, Policy [Policy Text Block] | Embedded Derivatives |
Income Tax, Policy [Policy Text Block] | Income Taxes not The Company considers all tax positions recognized in its financial statements for the likelihood of realization. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the positions taken or the amounts of the positions that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not not 50 |
Software Development Costs, Policy [Policy Text Block] | Software Development Costs |
Share-based Payment Arrangement [Policy Text Block] | S tock -based Compensation 2018, 400,000 $0.33 4 2 fourth first 1/48 36 The cash flows resulting from the tax benefits resulting from tax deductions in excess of the compensation cost recognized for those options (excess tax benefits) are classified as cash flows from financing in the statements of cash flows. These excess tax benefits were not March 28, 2020 March 30, 2019. In calculating compensation related to stock option grants, the fair value of each stock option is estimated on the date of grant using the Black-Scholes-Merton option-pricing model. The computation of expected volatility used in the Black-Scholes- Merton option-pricing model is based on the historical volatility of Giga-tronics’ share price. The expected term is estimated based on a review of historical employee exercise behavior with respect to option grants. The risk free interest rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of the grant. Expected dividend yield was not not no The fair value of restricted stock awards is based on the fair value of the underlying shares at the date of the grant. Management makes estimates regarding pre-vesting forfeitures that will impact timing of compensation expense recognized for stock option and restricted stock awards. |
Earnings Per Share, Policy [Policy Text Block] | Earnings or Loss Per Common Share not two |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income or Loss no |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Financial Instruments and Concentration of Credit Risk not March 28, 2020, three 96% March 30, 2019, three 97% |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments and Fair Value Measurements 1 1 not 2 3 |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Mar. 28, 2020 | |
Notes Tables | |
Accounting Standards Update and Change in Accounting Principle [Table Text Block] | Balance at 3/30/2019 Adoption Adjustment Balance at 3/31/2019 Assets: Right of use assets- Operating lease $ — $ 1,361 $ 1,361 Right of use assets- Finance lease 49 49 Property and equipment, net (a) 49 (49 ) — Liabilities: Deferred rent (b) $ 71 $ (71 ) $ — Operating lease liability, current portion — 337 337 Finance lease obligation, current portion — 41 41 Capital lease obligation, current portion (c) 41 (41 ) — Long term deferred rent (d) 358 (358 ) — Long term obligations – capital lease (e) 19 (19 ) — Operating lease liability, non-current portion — 1,453 1,453 Finance lease obligation, long-term portion — 19 19 |
Note 3 - Inventories, Net (Tabl
Note 3 - Inventories, Net (Tables) | 12 Months Ended |
Mar. 28, 2020 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | (Dollars in thousands) March 28 , 20 20 March 3 0 , 201 9 Raw materials $ 890 $ 759 Work-in-progress 1,828 1,523 Finished goods 263 57 Demonstration inventory 280 395 Total $ 3,261 $ 2,734 |
Note 4 - Property, Plant and _2
Note 4 - Property, Plant and Equipment, Net (Tables) | 12 Months Ended |
Mar. 28, 2020 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | (Dollars in thousands) March 28 , 20 20 March 3 0 , 201 9 Leasehold improvements $ 642 633 Machinery and equipment 3,599 4,333 Computer and software 681 681 Furniture and office equipment 196 227 Subtotal 5,118 5,874 Less: accumulated depreciation (4,610 ) (5,305 ) Total $ 508 $ 569 |
Note 11 - Significant Custome_2
Note 11 - Significant Customer and Industry Segment Information (Tables) | 12 Months Ended |
Mar. 28, 2020 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | March 28 , 20 20 (Dollars in thousands) Giga-tronics Division Microsource Total Revenue $ 3,521 $ 8,247 $ 11,768 Interest expense, net (252 ) — (252 ) Depreciation 184 — 184 Income (loss) before income taxes (3,392 ) 2,707 (685 ) Assets 6,011 2,915 8,926 March 30, 2019 (Dollars in thousands) Giga-tronics Division Microsource Total Revenue $ 1,935 $ 9,213 $ 11,148 Interest expense, net (607 ) — (607 ) Depreciation 257 7 264 Income (loss) before income taxes (4,521 ) 3,626 (895 ) Assets 3,979 2,300 6,279 |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | March 28, 2020 March 30, 2019 Europe $ 13 $ 14 Asia 10 12 Rest of world 110 68 Total $ 133 $ 94 |
Note 12 - Loss Per Common Sha_2
Note 12 - Loss Per Common Share (Tables) | 12 Months Ended |
Mar. 28, 2020 | |
Notes Tables | |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Fiscal Years Ended March 28, 2020 March 30, 2019 Stock options 241 182 Restricted stock awards 20 22 Convertible preferred stock 180 780 Warrants 157 230 598 1,214 |
Note 13 - Income Taxes (Tables)
Note 13 - Income Taxes (Tables) | 12 Months Ended |
Mar. 28, 2020 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Fiscal years ended (in thousands) March 28, 2020 March 30, 2019 Current Federal $ - $ - State 2 42 2 42 Deferred Federal 123 2 State 40 39 163 41 Change in liability for uncertain tax positions (9 ) 1 Change in valuation allowance (154 ) (42 ) Provision for income taxes $ 2 $ 42 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Fiscal years ended March 28, 2020 March 30, 2019 (in thousands) Net operating loss carryforwards $ 11,568 $ 11,365 Income tax credits 365 349 Inventory reserves and additional costs capitalized 865 795 Fixed asset depreciation 23 17 Accrued vacation 55 49 Accrued bonuses - 64 Accrued warranty 9 29 Accrued commissions 36 71 Deferred rent - 21 Allowance for doubtful accounts 2 2 Non-qualified stock options 91 81 Unrealized warrant gain (33 ) (33 ) State tax benefit (8 ) 9 Total deferred tax assets 12,973 12,819 Valuation allowances (12,973 ) (12,819 ) $ - $ - |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended (in thousands except percentages) March 28, 2020 March 30,2019 Statutory federal income tax (benefit) $ (164 ) 21.0 % $ (210 ) 21.0 % Valuation allowance 154 (19.8 ) (42 ) 4.2 State income tax, net of federal benefit (54 ) 6.9 (70 ) 7.0 Net operating loss expiration - 0 39 (3.9 ) Non tax-deductible expenses 81 (10.4 ) (15 ) 1.5 Tax credits generated (18 ) 2.3 (2 ) 0.2 Adoption of ASC 606 adjustment - 0 329 (32.9 ) Other 3 (0.5 ) 13 (1.3 ) Effective income tax $ 2 (0.5 %) $ 42 (4.2 %) |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | Fiscal Year 2020 Fiscal Year 2019 Balance as of beginning of year $ 123,000 $ 122,000 Increase based on current year tax positions 9,000 1,000 Reductions for prior year tax positions - - Balance as of end of year $ 132,000 $ 123,000 |
Note 14 - Shared-based Compen_2
Note 14 - Shared-based Compensation and Employee Benefits Plans (Tables) | 12 Months Ended |
Mar. 28, 2020 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Fiscal years ended March 28, 2020 March 30, 2019 Dividend yield — — Expected volatility 105 % 96 % Risk-free interest rate 2.21 % 2.79 % Expected term (years) 8.35 8.35 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | (Dollars in thousands except share prices) Shares Weighted Average Exercise Price per share Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding at March 31, 2018 98,580 $ 8.40 8.0 $ — Granted 100,267 4.65 9.6 Forfeited / Expired (16,481 ) 10.35 Outstanding at March 30, 2019 182,366 $ 6.15 8.4 $ — Granted 73,880 4.98 9.2 Forfeited / Expired (15,488 ) 5.13 Outstanding at March 28, 2020 240,758 $ 5.86 7.9 $ — Exercisable at March 28, 2020 87,242 $ 7.51 6.2 $ — At March 28, 2020, expected to vest in the future 196,846 $ 6.07 7.7 $ — |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Shares Weighted Average Grant Date Fair Value Non-vested at March 31, 2018 19,997 $ 9.75 Granted 20,667 4.65 Vested (16,667 ) 4.80 Forfeited or cancelled (1,654 ) 11.85 Non-vested at March 30, 2019 22,343 $ 8.40 Granted 10,000 3.97 Vested (21,009 ) 8.25 Forfeited or cancelled (1,334 ) 12.00 Non-vested at March 28, 2020 10,000 $ 3.97 |
Note 15 - Commitments and Con_2
Note 15 - Commitments and Contingencies (Tables) | 12 Months Ended |
Mar. 28, 2020 | |
Notes Tables | |
Lease, Cost [Table Text Block] | March 28, Classification 2020 Operating lease costs Operating expenses $ 518 Finance lease: Amortization of lease asset Depreciation and amortization 34 Interest on lease liability Interest expense 5 Total lease costs $ 557 |
Leases, Other Information [Table Text Block] | For the fiscal year ended March 28, 2020 Operating leases Finance leases Operating cash used for leases $ 572 — Financing cash used for leases — $ 46 Weighted-average remaining lease term 3.39 0.46 Weighted average discount rate 6.50 % 12.00 % |
Finance and Operating Leases, Liability, Maturity [Table Text Block] | Operating leases Finance leases Total 2021 $ 488 $ 11 $ 499 2022 503 20 523 2023 515 — 515 2024 209 — 209 Thereafter — — — Total future minimum lease payments 1,715 31 1,746 Less: imputed interest (174 ) (11 ) (185 ) Present value of lease liabilities $ 1,541 $ 20 $ 1,561 |
Note 16 - Warranty Obligations
Note 16 - Warranty Obligations (Tables) | 12 Months Ended |
Mar. 28, 2020 | |
Notes Tables | |
Schedule of Product Warranty Liability [Table Text Block] | (In thousands) March 28 , 20 20 March 3 0 , 201 9 Balance as of beginning of year $ 104 $ 164 Provision, net (58 ) (7 ) Warranty costs incurred (12 ) (53 ) Balance as of end of year $ 34 $ 104 |
Note 17 - Preferred Stock and_2
Note 17 - Preferred Stock and Warrants (Tables) | 12 Months Ended |
Mar. 28, 2020 | |
Notes Tables | |
Schedule of Stock by Class [Table Text Block] | Designated Shares Shares Issued Shares Outstanding Liquidation Preference (in thousands) Series B 10,000.00 9,997.00 9,245.13 $ 2,136 Series C 3,500.00 3,424.65 3,424.65 500 Series D 6,000.00 5,111.86 5,111.86 731 Series E 100,000.00 100,000.00 9,200.00 345 Total at March 28, 2020 119,500.00 118,533.51 26,981.64 $ 3,712 Designated Shares Shares Issued Shares Outstanding Liquidation Preference (in thousands) Series B 10,000.00 9,997.00 9,997.00 $ 2,309 Series C 3,500.00 3,424.65 3,424.65 500 Series D 6,000.00 5,111.86 5,111.86 731 Series E 100,000.00 100,000.00 98,400.00 3,690 Total at March 30, 2019 119,500.00 118,533.51 116,933.51 $ 7,230 |
Note 1 - Summary of Significa_3
Note 1 - Summary of Significant Accounting Policies (Details Textual) $ / shares in Units, $ in Thousands | Dec. 12, 2019 | Mar. 28, 2020USD ($)$ / sharesshares | Mar. 30, 2019USD ($)$ / sharesshares | Mar. 31, 2018$ / sharesshares | Mar. 31, 2019USD ($) |
Number of Leases | 1 | ||||
Operating Lease, Right-of-Use Asset | $ 1,183 | $ 1,361 | |||
Operating Lease, Liability, Total | 1,541 | ||||
Research and Development Expense, Total | 1,552 | 1,304 | |||
Asset Impairment Charges, Total | $ 0 | $ 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | shares | 73,880 | 100,267 | |||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 4.98 | $ 4.65 | |||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | |||||
Number of Major Customers | 3 | 3 | |||
Concentration Risk, Percentage | 96.00% | 97.00% | |||
Equity Incentive Plan 2005 [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | shares | 400,000 | ||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 0.33 | ||||
Equity Incentive Plan 2005 [Member] | Share-based Payment Arrangement, Option [Member] | Vesting on the First Anniversary of the Grant Date [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | ||||
Equity Incentive Plan 2005 [Member] | Share-based Payment Arrangement, Option [Member] | Vesting Monthly On Each of the 36 Months Following the First Anniversary of the Grant Date [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 2.08% | ||||
Minimum [Member] | |||||
Warranty Term (Year) | 1 year | ||||
Minimum [Member] | Machinery and Equipment [Member] | |||||
Property, Plant and Equipment, Useful Life (Year) | 3 years | ||||
Maximum [Member] | |||||
Warranty Term (Year) | 3 years | ||||
Maximum [Member] | Machinery and Equipment [Member] | |||||
Property, Plant and Equipment, Useful Life (Year) | 10 years | ||||
Accounting Standards Update 2016-02 [Member] | |||||
Operating Lease, Right-of-Use Asset | 1,361 | ||||
Operating Lease, Liability, Total | $ 1,800 | ||||
Reverse Stock Split [Member] | |||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 15 |
Note 1 - Organization and Signi
Note 1 - Organization and Significant Accounting Policies - Adoption of New Leases Standard (Details) - USD ($) $ in Thousands | Mar. 28, 2020 | Mar. 31, 2019 | Mar. 30, 2019 | |||
Right of use assets- Operating lease | $ 1,183 | $ 1,361 | ||||
Right of use assets- Finance lease | 49 | |||||
Property and equipment, net | 508 | 569 | ||||
Deferred rent (b) | [1] | 74 | ||||
Operating lease liability, current portion | 426 | 337 | 41 | |||
Finance lease obligation, current portion | 41 | |||||
Capital lease obligation, current portion (c) | [2] | 41 | ||||
Long term deferred rent (d) | [3] | 358 | [3] | |||
Long term obligations – capital lease (e) | [4] | 19 | ||||
Operating lease liability, non-current portion | $ 1,135 | 1,453 | 21 | |||
Finance lease obligation, long-term portion | 19 | |||||
Assets Leased to Others [Member] | ||||||
Property and equipment, net | [5] | $ 49 | ||||
Accounting Standards Update 2016-02 [Member] | ||||||
Right of use assets- Operating lease | 1,361 | |||||
Right of use assets- Finance lease | 49 | |||||
Deferred rent (b) | [1] | (71) | ||||
Operating lease liability, current portion | 337 | |||||
Finance lease obligation, current portion | 41 | |||||
Capital lease obligation, current portion (c) | [2] | (41) | ||||
Long term deferred rent (d) | [3] | (358) | ||||
Long term obligations – capital lease (e) | [4] | (19) | ||||
Operating lease liability, non-current portion | 1,453 | |||||
Finance lease obligation, long-term portion | 19 | |||||
Accounting Standards Update 2016-02 [Member] | Assets Leased to Others [Member] | ||||||
Property and equipment, net | [5] | $ (49) | ||||
[1] | Represents current portion of deferred rent reclassified to Operating lease obligation, current portion. | |||||
[2] | Represents current portion of capital lease liability reclassified to Finance lease obligation - current portion. | |||||
[3] | Represents noncurrent portion of deferred rent reclassified to Operating lease liability - non-current portion. | |||||
[4] | Represents noncurrent portion of capital lease obligation reclassified to Finance lease obligation - non-current portion. | |||||
[5] | Represents net book value of capital lease assets reclassified to Finance right of use assets. |
Note 2 - Cash and Cash-equiva_2
Note 2 - Cash and Cash-equivalents (Details Textual) - USD ($) | Mar. 28, 2020 | Mar. 30, 2019 |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 657,000 | $ 878,000 |
Cash, Uninsured Amount | $ 407,000 |
Note 3 - Inventories, Net - Inv
Note 3 - Inventories, Net - Inventories, Net of Reserves (Details) - USD ($) $ in Thousands | Mar. 28, 2020 | Mar. 30, 2019 |
Raw materials | $ 890 | $ 759 |
Work-in-progress | 1,828 | 1,523 |
Finished goods | 263 | 57 |
Demonstration inventory | 280 | 395 |
Total | $ 3,261 | $ 2,734 |
Note 4 - Property, Plant and _3
Note 4 - Property, Plant and Equipment, Net - Property, Plant, and Equipment (Details) - USD ($) $ in Thousands | Mar. 28, 2020 | Mar. 30, 2019 |
Property, plant, and equipment, gross | $ 5,118 | $ 5,874 |
Less: accumulated depreciation | (4,610) | (5,305) |
Total | 508 | 569 |
Leasehold Improvements [Member] | ||
Property, plant, and equipment, gross | 642 | 633 |
Machinery and Equipment [Member] | ||
Property, plant, and equipment, gross | 3,599 | 4,333 |
Computer Equipment [Member] | ||
Property, plant, and equipment, gross | 681 | 681 |
Furniture and Fixtures [Member] | ||
Property, plant, and equipment, gross | $ 196 | $ 227 |
Note 5 - Financed Receivables (
Note 5 - Financed Receivables (Details Textual) - Restated Financing Agreement [Member] - USD ($) | Mar. 11, 2019 | Mar. 28, 2020 | Mar. 30, 2019 | May 06, 2015 |
Advance Rate, Percent of Invoices Issued | 85.00% | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 2,500,000 | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.50% | |||
Debt Instrument, Basis Spread on Variable Rate | 1.00% | |||
Debt Instrument, Fee Amount | $ 14,700 | |||
Debt Instrument, Basis Spread in Case of Default | 5.00% | |||
Long-term Line of Credit, Total | $ 527,468 | $ 0 | ||
Non-Formula Basis Sub-Limit [Member] | ||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 500,000 |
Note 6 - Term Loan, Revolving_2
Note 6 - Term Loan, Revolving Line of Credit and Warrants (Details Textual) - PFG Loan [Member] - USD ($) | Feb. 01, 2020 | Jan. 31, 2020 | Dec. 29, 2018 | Mar. 28, 2020 | Dec. 28, 2019 | Mar. 30, 2019 | Apr. 27, 2017 |
Debt Instrument, Face Amount | $ 1,500,000 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 16.00% | 16.00% | |||||
Debt Instrument, Cash Interest Rate | 9.50% | 9.50% | |||||
Debt Instrument, Deferred Interest Rate | 6.50% | 6.50% | |||||
Debt Instrument, Maximum Fee Amount to be Paid upon Maturity | $ 100,000 | ||||||
Debt Instrument, Fee Amount | $ 16,500 | 76,000 | |||||
Debt Instrument, Remaining Fee Amount | 24,000 | ||||||
Debt Instrument, Remaining Fee Amount, Per Month | $ 1,000 | ||||||
Debt Instrument, Periodic Payment, Principal | $ 57,700 | $ 75,000 | |||||
Debt Instrument, Required Additional Capital To Extend Maturity | $ 500,000 | ||||||
Debt Instrument, Covenant Compliance, Minimum Cumulative Revenue | $ 11,000,000 | ||||||
Repayments of Long-term Debt, Total | $ 75,000 | ||||||
Long-term Debt, Total | $ 792,300 | $ 1,800,000 |
Note 7 - Fair Value (Details Te
Note 7 - Fair Value (Details Textual) - USD ($) $ in Thousands | Mar. 28, 2020 | Mar. 30, 2019 |
Fair Value, Nonrecurring [Member] | ||
Assets, Fair Value Disclosure | $ 0 | $ 0 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | 0 |
Fair Value, Recurring [Member] | ||
Assets, Fair Value Disclosure | $ 0 | $ 0 |
Note 8 - Sale of Common Stock (
Note 8 - Sale of Common Stock (Details Textual) - USD ($) | Mar. 11, 2020 | Nov. 08, 2019 | Nov. 07, 2019 | Mar. 28, 2018 | Mar. 28, 2020 | Mar. 30, 2019 |
Stock Issued During Period, Shares, New Issues (in shares) | 146,668 | 699,333 | ||||
Shares Issued, Price Per Share (in dollars per share) | $ 3.75 | $ 3.75 | ||||
Proceeds from Issuance of Common Stock | $ 510,000 | $ 2,100,000 | $ 2,564,000 | $ 1,192,000 | ||
Stock Issued During Period, Value, New Issues | $ 550,004 | $ 2,564,000 | ||||
Series E Preferred Stock [Member] | ||||||
Stock Issued During Period, Shares, New Issues (in shares) | 42,800 | 0 | 56,200 | |||
Shares Issued, Price Per Share (in dollars per share) | $ 25 | $ 25 | ||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 9,200 | 98,400 | ||||
Preferred Stock, Liquidation Preference, Value | $ 345,000 | $ 3,690,000 | ||||
Stock Issued During Period, Value, New Issues | $ 1,193,000 | |||||
Conversion of Series E Preferred Stock into Common Stock [Member] | ||||||
Conversion of Stock, Shares Issued (in shares) | 896,636 | 896,636 | ||||
Conversion of Stock, Shares Converted (in shares) | 88,600 | 88,600 | ||||
Underwriter Warrants [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 20,980 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 4.50 | |||||
Warrants and Rights Outstanding, Term (Year) | 5 years |
Note 9 - Reverse Stock Split (D
Note 9 - Reverse Stock Split (Details Textual) | Dec. 12, 2019shares | Mar. 28, 2020shares | Dec. 11, 2019shares | Mar. 30, 2019shares |
Common Stock, Shares, Outstanding, Ending Balance (in shares) | 2,476,982 | 2,635,856 | 37,154,730 | 757,367 |
Common Stock, Shares Authorized (in shares) | 13,333,333 | 13,333,333 | 200,000,000 | 13,333,333 |
Reverse Stock Split [Member] | ||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 15 |
Note 10 - Selling and Adverti_2
Note 10 - Selling and Advertising Expenses (Details Textual) - USD ($) | 12 Months Ended | |
Mar. 28, 2020 | Mar. 30, 2019 | |
Sales Commissions and Fees | $ 15,000 | $ 33,000 |
Advertising Expense | $ 20,000 | $ 0 |
Note 11 - Significant Custome_3
Note 11 - Significant Customer and Industry Segment Information (Details Textual) | 12 Months Ended | ||
Mar. 28, 2020 | Mar. 30, 2019 | Mar. 20, 2019 | |
Number of Reportable Segments | 2 | ||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | |||
Number of Major Customers | 3 | 2 | |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | U.S. Government and Defense-related Customers [Member] | |||
Concentration Risk, Percentage | 85.00% | 98.00% | |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | First Customer [Member] | Microsource [Member] | |||
Concentration Risk, Percentage | 45.00% | 57.00% | |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Second Customer [Member] | Microsource [Member] | |||
Concentration Risk, Percentage | 19.00% | 26.00% | |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Third Customer [Member] | Gigatronics Division [Member] | |||
Concentration Risk, Percentage | 18.00% | ||
Export Sales [Member] | |||
Concentration Risk, Percentage | 1.00% | 1.00% |
Note 11 - Significant Customers
Note 11 - Significant Customers and Industry Segment Information - Segment Reporting Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 28, 2020 | Mar. 30, 2019 | |
Revenue | $ 11,768 | $ 11,148 |
Interest expense, net | (252) | (607) |
Depreciation | 184 | 264 |
Income (loss) before income taxes | (685) | (895) |
Assets | 8,926 | 6,279 |
Gigatronics Division [Member] | ||
Revenue | 3,521 | 1,935 |
Interest expense, net | (252) | (607) |
Depreciation | 184 | 257 |
Income (loss) before income taxes | (3,392) | (4,521) |
Assets | 6,011 | 3,979 |
Microsource [Member] | ||
Revenue | 8,247 | 9,213 |
Interest expense, net | ||
Depreciation | 7 | |
Income (loss) before income taxes | 2,707 | 3,626 |
Assets | $ 2,915 | $ 2,300 |
Note 11 - Significant Custome_4
Note 11 - Significant Customers and Industry Segment Information - Export Sales by Geographic Area (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 28, 2020 | Mar. 30, 2019 | |
Revenue | $ 11,768 | $ 11,148 |
Export Sales [Member] | ||
Revenue | 133 | 94 |
Export Sales [Member] | Europe [Member] | ||
Revenue | 13 | 14 |
Export Sales [Member] | Asia [Member] | ||
Revenue | 10 | 12 |
Export Sales [Member] | Rest of World [Member] | ||
Revenue | $ 110 | $ 68 |
Note 12 - Loss Per Common Sha_3
Note 12 - Loss Per Common Share - Shares Excluded from the Diluted EPS Calculation (Details) - shares shares in Thousands | 12 Months Ended | |
Mar. 28, 2020 | Mar. 30, 2019 | |
Anti-dilutive securities excluded from computation of earning per share (in shares) | 598 | 1,214 |
Share-based Payment Arrangement, Option [Member] | ||
Anti-dilutive securities excluded from computation of earning per share (in shares) | 241 | 182 |
Restricted Stock [Member] | ||
Anti-dilutive securities excluded from computation of earning per share (in shares) | 20 | 22 |
Convertible Debt Securities [Member] | ||
Anti-dilutive securities excluded from computation of earning per share (in shares) | 180 | 780 |
Warrant [Member] | ||
Anti-dilutive securities excluded from computation of earning per share (in shares) | 157 | 230 |
Note 13 - Income Taxes (Details
Note 13 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | ||
Mar. 28, 2020 | Mar. 30, 2019 | Mar. 31, 2018 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% | |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 154,000 | ||
Unrecognized Tax Benefits, Ending Balance | 132,000 | $ 123,000 | $ 122,000 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | 0 | ||
Domestic Tax Authority [Member] | |||
Operating Loss Carryforwards, Total | 47,040,000 | ||
Operating Loss Carryforwards, Not Subject to Expiration | $ 740,000 | ||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | |||
Open Tax Year | 2015 2016 2017 2018 2019 | ||
State and Local Jurisdiction [Member] | |||
Operating Loss Carryforwards, Total | $ 24,198,000 | ||
State and Local Jurisdiction [Member] | California Franchise Tax Board [Member] | |||
Open Tax Year | 2014 2015 2016 2017 2018 2019 |
Note 13 - Income Taxes - Compon
Note 13 - Income Taxes - Components of the Provision for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 28, 2020 | Mar. 30, 2019 | |
Federal | ||
State | 2 | 42 |
Current Income Tax Expense (Benefit), Total | 2 | 42 |
Federal | 123 | 2 |
State | 40 | 39 |
Deferred Income Tax Expense (Benefit), Total | 163 | 41 |
Change in liability for uncertain tax positions | (9) | 1 |
Change in valuation allowance | (154) | (42) |
Provision for income taxes | $ 2 | $ 42 |
Note 13 - Income Taxes - Deferr
Note 13 - Income Taxes - Deferred Tax Assets (Details) - USD ($) $ in Thousands | Mar. 28, 2020 | Mar. 30, 2019 |
Net operating loss carryforwards | $ 11,568 | $ 11,365 |
Income tax credits | 365 | 349 |
Inventory reserves and additional costs capitalized | 865 | 795 |
Fixed asset depreciation | 23 | 17 |
Accrued vacation | 55 | 49 |
Accrued bonuses | 64 | |
Accrued warranty | 9 | 29 |
Accrued commissions | 36 | 71 |
Deferred rent | 21 | |
Allowance for doubtful accounts | 2 | 2 |
Non-qualified stock options | 91 | 81 |
Unrealized warrant gain | (33) | (33) |
State tax benefit | (8) | 9 |
Total deferred tax assets | 12,973 | 12,819 |
Valuation allowances | $ (12,973) | $ (12,819) |
Note 13 - Income Taxes - Effect
Note 13 - Income Taxes - Effective Income Tax Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 28, 2020 | Mar. 30, 2019 | |
Statutory federal income tax (benefit) | $ (164) | $ (210) |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% |
Change in valuation allowance | $ (154) | $ (42) |
Valuation allowance, percent | (19.80%) | 4.20% |
State income tax, net of federal benefit | $ (54) | $ (70) |
State income tax, net of federal benefit, percent | 6.90% | 7.00% |
Net operating loss expiration | $ 39 | |
Net operating loss expiration, percent | 0.00% | (3.90%) |
Non tax-deductible expenses | $ 81 | $ (15) |
Non tax-deductible expenses, percent | (10.40%) | 1.50% |
Tax credits generated | $ (18) | $ (2) |
Tax credits generated, percent | 2.30% | 0.20% |
Adoption of ASC 606 adjustment | $ 329 | |
Adoption of ASC 606 adjustment, percent | 0.00% | (32.90%) |
Other | $ 3 | $ 13 |
Other, percent | (0.50%) | (1.30%) |
Provision for income taxes | $ 2 | $ 42 |
Effective income tax, percent | (0.50%) | (4.20%) |
Note 13 - Income Taxes - Liabil
Note 13 - Income Taxes - Liability for Uncertain Tax Positions (Details) - USD ($) | 12 Months Ended | |
Mar. 28, 2020 | Mar. 30, 2019 | |
Balance as of beginning of year | $ 123,000 | $ 122,000 |
Increase based on current year tax positions | 9,000 | 1,000 |
Reductions for prior year tax positions | ||
Balance as of end of year | $ 132,000 | $ 123,000 |
Note 14 - Shared-based Compen_3
Note 14 - Shared-based Compensation and Employee Benefits Plans (Details Textual) - USD ($) | Sep. 20, 2018 | Mar. 31, 2020 | Mar. 28, 2020 | Mar. 30, 2019 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 4.98 | $ 3.75 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares (in shares) | 48,956 | 14,093 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 206,255 | $ 90,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 0 | 0 | ||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 100.00% | |||
Defined Contribution Plan, Vesting Period (Year) | 4 years | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 22,000 | $ 18,000 | ||
Share-based Payment Arrangement, Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 134,322 | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 255 days | |||
Share-based Payment Arrangement, Expense | $ 213,000 | $ 120,000 | ||
Stock Appreciation Rights (SARs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 0 | |||
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 10,000 | 20,667 | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 24,100 | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 363 days | |||
Share-based Payment Arrangement, Expense | $ 88,000 | $ 125,000 | ||
The 2018 Equity Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 166,667 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 28,493 | |||
The 2018 Equity Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | |||
The 2018 Equity Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 5 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |||
Equity Incentive Plan 2005 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 0 | |||
Stock Option Plan 2000 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 0 |
Note 14 - Shared-based Compen_4
Note 14 - Shared-based Compensation and Employee Benefits Plans - Weighted Average Assumptions (Details) | 12 Months Ended | |
Mar. 28, 2020 | Mar. 30, 2019 | |
Dividend yield | ||
Expected volatility | 105.00% | 96.00% |
Risk-free interest rate | 2.21% | 2.79% |
Expected term (Year) | 8 years 127 days | 8 years 127 days |
Note 14 - Shared-based Compen_5
Note 14 - Shared-based Compensation and Employee Benefits Plans - Changes in Stock Options Outstanding (Details) - USD ($) | 12 Months Ended | |||
Mar. 28, 2020 | Mar. 30, 2019 | Mar. 31, 2018 | Dec. 28, 2019 | |
Outstanding, Shares (in shares) | 182,366 | 98,580 | ||
Outstanding, weighted average exercise price (in dollars per share) | $ 6.15 | $ 8.40 | ||
Outstanding, Weighted average remaining contractual terms (Year) | 7 years 328 days | 8 years 146 days | 8 years | |
Outstanding | ||||
Granted, Shares (in shares) | 73,880 | 100,267 | ||
Granted, weighted average exercise price (in dollars per share) | $ 4.98 | $ 4.65 | ||
Granted, Weighted average remaining contractual terms (Year) | 9 years 73 days | 9 years 219 days | ||
Forfeited / Expired, Shares (in shares) | (15,488) | (16,481) | ||
Forfeited / Expired, weighted average exercise price (in dollars per share) | $ 5.13 | $ 10.35 | ||
Outstanding, Shares (in shares) | 240,758 | 182,366 | 98,580 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 5.86 | $ 6.15 | $ 8.40 | |
Exercisable, shares (in shares) | 87,242 | |||
Exercisable, weighted average exercise price (in dollars per share) | $ 7.51 | |||
Exercisable, Weighted average remaining contractual terms (Year) | 6 years 73 days | |||
Exercisable | ||||
Expected to vest in the future, shares (in shares) | 196,846 | |||
Expected to vest in the future, weighted average exercise price (in dollars per share) | $ 6.07 | |||
Expected to vest in the future, Weighted average remaining contractual terms (Year) | 7 years 255 days | |||
Expected to vest in the future |
Note 14 - Shared-based Compen_6
Note 14 - Shared-based Compensation and Employee Benefits Plans - Changes in Nonvested Restricted Stock Awards Outstanding (Details) - Restricted Stock [Member] - $ / shares | 12 Months Ended | |
Mar. 28, 2020 | Mar. 30, 2019 | |
Non-Vested, Shares (in shares) | 22,343 | 19,997 |
Non-vested, Weighted average fair value (in dollars per share) | $ 8.40 | $ 9.75 |
Granted, Shares (in shares) | 10,000 | 20,667 |
Granted, Weighted average fair value (in dollars per share) | $ 3.97 | $ 4.65 |
Vested, Shares (in shares) | (21,009) | (16,667) |
Vested, Weighted average fair value (in dollars per share) | $ 8.25 | $ 4.80 |
Forfeited or cancelled, shares (in shares) | (1,334) | (1,654) |
Forfeited or cancelled, Weighted average fair value (in dollars per share) | $ 12 | $ 11.85 |
Non-Vested, Shares (in shares) | 10,000 | 22,343 |
Non-vested, Weighted average fair value (in dollars per share) | $ 3.97 | $ 8.40 |
Note 15 - Commitments and Con_3
Note 15 - Commitments and Contingencies (Details Textual) - ft² | Mar. 01, 2020 | Feb. 01, 2019 | Jan. 05, 2017 |
Dublin, CA [Member] | |||
Lessee, Operating Lease, Term of Contract (Month) | 6 years 150 days | ||
Area of Real Estate Property (Square Foot) | 23,873 | ||
Nashua NH [Member] | |||
Area of Real Estate Property (Square Foot) | 2,400 | 1,200 |
Note 15 - Commitments and Con_4
Note 15 - Commitments and Contingencies - Lease Costs (Details) $ in Thousands | 12 Months Ended |
Mar. 28, 2020USD ($) | |
Operating lease costs | $ 518 |
Amortization of lease asset | 34 |
Interest on lease liability | 5 |
Total lease costs | $ 557 |
Note 15 - Commitments and Con_5
Note 15 - Commitments and Contingencies - Other Information (Details) $ in Thousands | 12 Months Ended |
Mar. 28, 2020USD ($) | |
Operating cash used for leases | $ 572 |
Financing cash used for leases | $ 46 |
Weighted-average remaining lease term, operating leases (Year) | 3 years 142 days |
Weighted-average remaining lease term, finance leases (Year) | 167 days |
Weighted average discount rate, operating leases | 6.50% |
Weighted average discount rate, finance leases | 12.00% |
Note 15 - Commitments and Con_6
Note 15 - Commitments and Contingencies - Future Lease Payments (Details) $ in Thousands | Mar. 28, 2020USD ($) |
Operating leases, 2021 | $ 488 |
Finance leases, 2021 | 11 |
Total, 2021 | 499 |
Operating leases, 2022 | 503 |
Finance leases, 2022 | 20 |
Total, 2022 | 523 |
Operating leases, 2023 | 515 |
Finance leases, 2023 | |
Total, 2023 | 515 |
Operating leases, 2024 | 209 |
Finance leases, 2024 | |
Total, 2024 | 209 |
Operating leases, thereafter | |
Finance leases, thereafter | |
Total, thereafter | |
Total future minimum lease payments, operating leases | 1,715 |
Total future minimum lease payments, finance leases | 31 |
Total future minimum lease payments | 1,746 |
Less: imputed interest, operating leases | (174) |
Less: imputed interest, finance leases | (11) |
Less: imputed interest, total | (185) |
Operating leases, present value of lease liabilities | 1,541 |
Finance leases, present value of lease liabilities | 20 |
Total present value of lease liabilities | $ 1,561 |
Note 16 - Warranty Obligation_2
Note 16 - Warranty Obligations - Reconciliation of Company's Warranty Reserve (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 28, 2020 | Mar. 30, 2019 | |
Balance | $ 104 | $ 164 |
Provision, net | (58) | (7) |
Warranty costs incurred | (12) | (53) |
Balance | $ 34 | $ 104 |
Note 17 - Preferred Stock and_3
Note 17 - Preferred Stock and Warrants (Details Textual) | Mar. 11, 2020USD ($)$ / sharesshares | Nov. 08, 2019USD ($)$ / sharesshares | Nov. 07, 2019shares | Mar. 28, 2018USD ($)$ / sharesshares | May 14, 2015shares | Feb. 23, 2015USD ($)$ / sharesshares | Feb. 23, 2015USD ($)$ / sharesshares | Jul. 08, 2013USD ($)$ / sharesshares | Feb. 19, 2013USD ($)$ / sharesshares | Nov. 10, 2011USD ($)$ / sharesshares | Mar. 28, 2020USD ($)shares | Mar. 30, 2019USD ($)$ / sharesshares | Mar. 31, 2018shares | Feb. 16, 2015$ / sharesshares |
Proceeds from Issuance of Common Stock | $ 510,000 | $ 2,100,000 | $ 2,564,000 | $ 1,192,000 | ||||||||||
Proceeds from Warrant Exercises | $ 211,000 | $ 112,000 | ||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 146,668 | 699,333 | ||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 3.75 | $ 3.75 | ||||||||||||
Conversion of Series E Preferred Stock into Common Stock [Member] | ||||||||||||||
Conversion of Stock, Shares Issued (in shares) | shares | 896,636 | 896,636 | ||||||||||||
Conversion of Stock, Shares Converted (in shares) | shares | 88,600 | 88,600 | ||||||||||||
Alara Capital AVI II, LLC [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 1,017,405 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 1.43 | |||||||||||||
Class of Warrant Or Right Exercised in Period | 14,587 | |||||||||||||
Shares Issued Upon Cashless Warrant Exercise (in shares) | shares | 7,216 | |||||||||||||
New Warrant [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 511,186 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 1.43 | |||||||||||||
Series E Preferred Stock Warrants [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 14,867 | 6.67 | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 3.75 | $ 3.75 | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights, Percentage of Common Shares Into Which the Preferred Shares Can Be Converted | 5.00% | 5.00% | ||||||||||||
Series B Preferred Stock [Member] | ||||||||||||||
Proceeds from Issuance of Preferred Stock, Preference Stock, and Warrants, Total | $ 2,199,000 | |||||||||||||
Preferred Stock, Shares Issued, Total (in shares) | shares | 9,997 | 9,997 | 9,997 | |||||||||||
Sale of Stock, Price Per Share (in dollars per share) | $ / shares | $ 220 | |||||||||||||
Preferred Stock, Value, Issued, Ending Balance | $ 2,000,000 | |||||||||||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ 202,000 | |||||||||||||
Series C Preferred Stock [Member] | ||||||||||||||
Preferred Stock, Shares Issued, Total (in shares) | shares | 3,424.65 | 3,424.65 | 3,424.65 | |||||||||||
Sale of Stock, Price Per Share (in dollars per share) | $ / shares | $ 146 | |||||||||||||
Preferred Stock, Value, Issued, Ending Balance | $ 457,000 | |||||||||||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | 43,000 | |||||||||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ 500,000 | |||||||||||||
Series D Preferred Stock [Member] | ||||||||||||||
Preferred Stock, Shares Issued, Total (in shares) | shares | 5,111.86 | 5,111.86 | 5,111.86 | |||||||||||
Proceeds from Issuance of Convertible Preferred Stock | $ 858,000 | |||||||||||||
Series D Preferred Stock [Member] | SPA [Member] | ||||||||||||||
Payments of Stock Issuance Costs | 41,000 | |||||||||||||
Debt Instrument, Convertible, Beneficial Conversion Feature | 238,000 | |||||||||||||
Series D Preferred Stock [Member] | SPA [Member] | Unallocated [Member] | ||||||||||||||
Proceeds from Issuance of Convertible Preferred Stock | 817,000 | |||||||||||||
Series D Preferred Stock [Member] | SPA [Member] | Allocated [Member] | ||||||||||||||
Proceeds from Issuance of Convertible Preferred Stock | 498,000 | |||||||||||||
Proceeds from Issuance of Common Stock | $ 360,000 | |||||||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares | $ 0.97 | |||||||||||||
Series B, C, and D Preferred Stock [Member] | ||||||||||||||
Preferred Stock, Value, Issued, Ending Balance | $ 2,745,000 | $ 2,911,000 | ||||||||||||
Convertible Preferred Stock, Shares Issued upon Conversion (in shares) | shares | 100 | |||||||||||||
Series C and D Warrants [Member] | Alara Capital AVI II, LLC [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 1,002,818 | 1,002,818 | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 1.43 | $ 1.43 | ||||||||||||
Payments of Stock Issuance Costs | $ 42,000 | |||||||||||||
Proceeds from Warrant Exercises | $ 1,434,000 | |||||||||||||
New Warrant [Member] | Alara Capital AVI II, LLC [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 194,437 | 194,437 | 898,634 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 1.76 | $ 1.76 | $ 1.78 | |||||||||||
Number of Warrants Sold (in shares) | shares | 2 | 2 | ||||||||||||
Warrant Purchase Price | $ 137,000 | |||||||||||||
Warrant Purchase Price Per Share (in dollars per share) | $ / shares | $ 0.125 | |||||||||||||
Warrant Term (Year) | 5 years | |||||||||||||
Additional Warrant [Member] | Alara Capital AVI II, LLC [Member] | ||||||||||||||
Class of Warrant or Right, Outstanding (in shares) | shares | 14,587 | 14,587 | ||||||||||||
Series E Preferred Stock [Member] | ||||||||||||||
Preferred Stock, Shares Issued, Total (in shares) | shares | 100,000 | 100,000 | ||||||||||||
Preferred Stock, Value, Issued, Ending Balance | $ 177,000 | $ 1,895,000 | ||||||||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ 1,095,000 | 1,405,000 | ||||||||||||
Payments of Stock Issuance Costs | $ 57,000 | $ 212,000 | ||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 42,800 | 0 | 56,200 | |||||||||||
Preferred Stock, Dividend Rate, Percentage | 6.00% | |||||||||||||
Issuance of Stock, Number of Investors | 15 | |||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 25 | $ 25 | ||||||||||||
Proceeds from Issuance of Preferred Stock and Preference Stock, Net of Issuance Costs | $ 1,000,000 | $ 1,200,000 | ||||||||||||
Stock Issued During Period, Placement Agent Fees, Percentage of Gross Proceeds | 5.00% | 5.00% | ||||||||||||
Series E Preferred Stock [Member] | Placement Agent [Member] | ||||||||||||||
Payments of Stock Issuance Costs | $ 56,875 |
Note 17 - Preferred Stock and_4
Note 17 - Preferred Stock and Warrants - Preferred Stock Information (Details) - USD ($) $ in Thousands | Mar. 28, 2020 | Mar. 30, 2019 | Jul. 08, 2013 | Feb. 19, 2013 | Nov. 10, 2011 |
Designated shares (in shares) | 1,000,000 | 1,000,000 | |||
Series B Preferred Stock [Member] | |||||
Designated shares (in shares) | 10,000 | 10,000 | |||
Preferred Stock, Shares Issued, Total (in shares) | 9,997 | 9,997 | 9,997 | ||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 9,245.13 | 9,997 | |||
Preferred Stock, Liquidation Preference, Value | $ 2,136 | $ 2,309 | |||
Series C Preferred Stock [Member] | |||||
Designated shares (in shares) | 3,500 | 3,500 | |||
Preferred Stock, Shares Issued, Total (in shares) | 3,424.65 | 3,424.65 | 3,424.65 | ||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 3,424.65 | 3,424.65 | |||
Preferred Stock, Liquidation Preference, Value | $ 500 | $ 500 | |||
Series D Preferred Stock [Member] | |||||
Designated shares (in shares) | 6,000 | 6,000 | |||
Preferred Stock, Shares Issued, Total (in shares) | 5,111.86 | 5,111.86 | 5,111.86 | ||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 5,111.86 | 5,111.86 | |||
Preferred Stock, Liquidation Preference, Value | $ 731 | $ 731 | |||
Series E Preferred Stock [Member] | |||||
Designated shares (in shares) | 100,000 | 100,000 | |||
Preferred Stock, Shares Issued, Total (in shares) | 100,000 | 100,000 | |||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 9,200 | 98,400 | |||
Preferred Stock, Liquidation Preference, Value | $ 345 | $ 3,690 | |||
Series B, C, D, and E Preferred Stock [Member] | |||||
Designated shares (in shares) | 119,500 | 119,500 | |||
Preferred Stock, Shares Issued, Total (in shares) | 118,533.51 | 118,533.51 | |||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 26,981.64 | 116,933.51 | |||
Preferred Stock, Liquidation Preference, Value | $ 3,712 | $ 7,230 |
Note 19 - Subsequent Events (De
Note 19 - Subsequent Events (Details Textual) | Apr. 23, 2020USD ($) |
Subsequent Event [Member] | |
Proceeds from Paycheck Protection Program Under CARES Act | $ 786,200 |