Gresham Worldwide (GIGAQ) 10-Q 10 Aug 21 2022 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Jun. 26, 2021	Aug. 09, 2021
Document Information [Line Items]
Entity Central Index Key	0000719274
Entity Registrant Name	GIGA TRONICS INC
Amendment Flag	false
Current Fiscal Year End Date	--03-26
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 26, 2021
Document Transition Report	false
Entity File Number	001-14605
Entity Incorporation, State or Country Code	CA
Entity Tax Identification Number	94-2656341
Entity Address, Address Line One	5990 Gleason Drive
Entity Address, City or Town	Dublin
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94568
City Area Code	925
Local Phone Number	328-4650
Title of 12(b) Security	Common Stock, No par value
Trading Symbol	GIGA
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		2,725,010

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 27, 2021	[1]	Jun. 26, 2020
Current assets:
Cash	$ 736		$ 1,030
Trade accounts receivable, net of allowance of $3 and $3, respectively	801		394
Inventories	3,601		4,404
Prepaid expenses	100		63
Unbilled receivable	1,120		941
Total current assets	6,358		6,832
Property and equipment, net	455		429
Right-of-use asset	865		781
Other long-term assets	169		169
Total assets	7,847		8,211
Liabilities and shareholders’ equity
Accounts payable	1,044		799
Loan payable, net of discounts and issuance costs	683		295
Accrued payroll and benefits	446		523
Deferred revenue	7		103
Lease obligations	445		455
Prefunded warrants liability	0		1,657
Other current liabilities	279		281
Total current liabilities	2,904		4,113
Other non-current liabilities	6		0
Long term lease obligations	690		571
Total liabilities	3,600		4,684
Shareholders’ equity:
Common stock; no par value; Authorized – 13,333,333 shares; 2,725,010 shares issued and outstanding at June 26, 2021 and 2,635,856 shares at March 27, 2021	32,306		32,736
Accumulated deficit	(30,981)		(32,044)
Total shareholders’ equity	4,247		3,527
Total liabilities and shareholders’ equity	7,847		8,211
Series A Preferred Stock [Member]
Shareholders’ equity:
Preferred stock	0		0
Series B, C, and D Preferred Stock [Member]
Shareholders’ equity:
Preferred stock	2,745		2,745
Series E Preferred Stock [Member]
Shareholders’ equity:
Preferred stock	$ 177		$ 90
[1]	Derived from the audited financial statements as of and for the fiscal year ended March 27, 2021.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands	Mar. 27, 2021	[1]	Jun. 26, 2020
Trade accounts receivable, allowance	$ 3,000		$ 3,000
Preferred stock, no 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		2,725,010
Common stock, outstanding (in shares)	2,635,856		2,725,010
Series A Preferred Stock [Member]
Preferred stock, authorized (in shares)	250,000		250,000
Preferred stock, issued (in shares)	0		0
Preferred stock, outstanding (in shares)	0		0
Series B, C, and D Preferred Stock [Member]
Preferred stock, authorized (in shares)	19,500		19,500
Preferred stock, issued (in shares)	17,782		17,782
Preferred stock, outstanding (in shares)	17,782		17,782
Preferred stock, liquidation preference	$ 3,367,000		$ 3,367,000
Series E Preferred Stock [Member]
Preferred stock, authorized (in shares)	100,000		100,000
Preferred stock, issued (in shares)	100,000		5,700
Preferred stock, outstanding (in shares)	9,200		5,700
Preferred stock, liquidation preference	$ 345,000		$ 214,000
[1]	Derived from the audited financial statements as of and for the fiscal year ended March 27, 2021.

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 26, 2021	Jun. 27, 2020
Revenue	$ 2,050	$ 3,548
Cost of revenue	1,250	2,034
Gross profit	800	1,514
Operating expenses:
Engineering	402	437
Selling, general and administrative	1,098	969
Total operating expenses	1,500	1,406
Operating income (loss)	(700)	108
Interest expense, net and other:
Other expense, net	(111)	0
Interest expense, net	(3)	(33)
Income (loss) before income taxes	(814)	75
Provision for income taxes	0	0
Net income (loss)	(814)	75
Deemed dividend on Series E preferred stock	(3)	(3)
Cumulative dividends on converted Series E preferred stock	(43)	0
Net income (loss) attributable to common shareholders	$ (860)	$ 72
Income (loss) per common share – basic (in dollars per share)	$ (0.32)	$ 0.03
Income (loss) per common share – diluted (in dollars per share)	$ (0.32)	$ 0.03
Weighted average common shares used in per share calculation:
Basic (in shares)	2,725	2,636
Diluted (in shares)	2,725	2,826
Product [Member]
Revenue	$ 51	$ 1,109
Service [Member]
Revenue	$ 1,999	$ 2,439

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	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. 28, 2020	26,982	2,635,856
Balance at Mar. 28, 2020	$ 2,922	$ 31,952	$ (30,574)	$ 4,300
Net income (loss)	0	0	72	72
Stock based compensation	$ 0	$ 76	0	76
Balance (in shares) at Jun. 27, 2020	26,982	2,635,856
Balance at Jun. 27, 2020	$ 2,922	$ 32,028	(30,502)	4,448
Balance (in shares) at Mar. 27, 2021	26,982	2,635,856
Balance at Mar. 27, 2021	$ 2,922	$ 32,306	(30,981)	4,247	[1]
Net income (loss)	0	0	(860)	(860)
Stock based compensation	$ 0	$ 155	0	155
Restricted stock granted (in shares)	0	18,000
Restricted stock granted	$ 0	$ 0	0	0
Restricted stock forfeited (in shares)	0	(10,000)
Restricted stock forfeited	$ 0	$ 0	0	0
Deemed dividend in connection with prefunded warrants issuance	$ 0	$ 0	(203)	(203)
Common stock issuance, net of offering costs (in shares)	0	46,154
Common stock issuance, net of offering costs	$ 0	$ 145	0	145
Conversion of Series E preferred stock to common stock (in shares)	(3,500)	35,000
Conversion of Series E preferred stock to common stock	$ (87)	$ 130	0	43
Balance (in shares) at Jun. 26, 2021	23,482	2,725,010
Balance at Jun. 26, 2021	$ 2,835	$ 32,736	$ (32,044)	$ 3,527
[1]	Derived from the audited financial statements as of and for the fiscal year ended March 27, 2021.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Jun. 26, 2021	Jun. 27, 2020
Cash flows from operating activities:
Net income (loss)	$ (860,000)	$ 72,000
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	52,000	68,000
Stock based compensation	155,000	76,000
Cumulative dividends on Series E preferred stock	43,000	0
Gain on remeasurement of prefunded warrants liability	(46,000)	0
Finance costs for issuance of prefunded warrants	157,000	0
Changes in operating assets and liabilities:
Trade accounts receivable	407,000	(176,000)
Inventories	(829,000)	231,000
Prepaid expenses	37,000	(1,527,000)
Unbilled receivable	179,000	684,000
Right-of-use asset	84,000	77,000
Accounts payable	(245,000)	(42,000)
Accrued payroll and benefits	77,000	128,000
Deferred revenue	96,000	(12,000)
Accrued interest	10,000	(1,000)
Other current and non-current liabilities	(16,000)	(17,000)
Net cash used in operating activities	(699,000)	(439,000)
Cash flows from financing activities:
Payments on leases	(107,000)	(110,000)
Repayments of borrowings	(1,008,000)	(597,000)
Proceeds from loan payable, net of issuance costs	620,000	1,131,000
Proceeds from issuance of stock, net of issuance costs	145,000	0
Proceeds from issuance of prefunded warrants	1,500,000	0
Finance costs from issuance of prefunded warrants	(157,000)	0
Net cash provided by financing activities	993,000	424,000
Increase (decrease) in cash	294,000	(15,000)
Beginning cash	736,000	657,000
Ending cash	1,030,000	642,000
Supplementary disclosure of cash flow information:
Cash paid for interest	3,000	38,000
Prefunded Warrant Dividends [Member]
Supplementary disclosure of non-cash activities:
Deemed dividend on common shares	203,000	0
Series E Preferred Stock Dividends [Member]
Supplementary disclosure of non-cash activities:
Deemed dividend on common shares	$ 43,000	$ 0

Note 1 - Organization and Signi

Note 1 - Organization and Significant Accounting Policies	3 Months Ended
	Jun. 26, 2021
Notes to Financial Statements
Significant Accounting Policies [Text Block]	Note 1. Organization and Significant Accounting Policies The condensed consolidated financial statements included herein have been prepared by Giga-tronics Incorporated (“Giga-tronics,” “Company,” “us” or “we”), pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The consolidated results of operations for the interim periods shown in this report are not 10 March 27, 2021 three June 26, 2021, no 10 March 27, 2021. On December 12, 2019, one Principles of Consolidation Use of Estimates

Note 2 - Inventories

Note 2 - Inventories	3 Months Ended
	Jun. 26, 2021
Notes to Financial Statements
Inventory Disclosure [Text Block]	Note 2. Inventories Inventories are comprised of the following: Category (Dollars in thousands) June 26, 2021 March 27, 2021 Raw materials $ 1,576 $ 946 Work-in-progress 2,621 2,418 Finished goods 125 129 Demonstration inventory 82 108 Total $ 4,404 $ 3,601

Note 3 - Financed Receivables

Note 3 - Financed Receivables	3 Months Ended
	Jun. 26, 2021
Notes to Financial Statements
Debt Disclosure [Text Block]	Note 3. Financed Receivables On March 11, 2019, Under the Restated Financing Agreement, Western Alliance Bank may Under the Restated Financing Agreement, interest accrues on outstanding amounts at an annual rate equal to the greater of prime or 4.5% plus one percent. The Company is required to pay certain fees, including an annual facility fee of $14,700 that is paid in two no may During the first 2022, first 2021, June 26, 2021 March 27, 2021,

Note 4 - Term Loan

Note 4 - Term Loan	3 Months Ended
	Jun. 26, 2021
Notes to Financial Statements
Long-term Debt [Text Block]	Note 4. Term Loan On April 27, 2017, April 28, 2017 ( As of June 26, 2021 March 27, 2021, zero

Note 5 - Paycheck Protection Pr

Note 5 - Paycheck Protection Program Under the Cares Act	3 Months Ended
	Jun. 26, 2021
Notes to Financial Statements
Paycheck Protection Program CARES Act [Text Block]	Note 5. Paycheck Protection Program under the CARES Act On April 23, 2020, 470, April 23, 2022 1.0% On November 19, 2020,

Note 6 - Leases

Note 6 - Leases	3 Months Ended
	Jun. 26, 2021
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	Note 6. Leases Operating leases Building - April 1, 2017 August 31, 2023. 77 twelve five Per the terms of the Company’s lease agreements, the Company does not not not Lease costs For the three Description (Dollars in thousands) Classification June 26, 2021 Operating lease costs Operating expenses $ 133 Other information: Three month period ended June 26, 2021 Operating leases Operating cash used for leases $ 150 Future lease payments as of June 26, 2021, Description (Dollars in thousands) Operating leases 2022 (remaining 9 months) $ 377 2023 515 2024 209 Total future minimum lease payments 1,101 Less: imputed interest (108 ) Present value of lease liabilities $ 993

Note 7 - Fair Value Measurement

Note 7 - Fair Value Measurement	3 Months Ended
	Jun. 26, 2021
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 7. Fair Value Measurement ASC 820 820 820 1 2 three 1 3 The three 820 • Level 1 1 • Level 2 2 • Level 3 no In determining the fair value of warrants, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as considers counterparty credit risk in its assessment of fair value. Upon issuance on April 27, 2021 June 26, 2021 8. The Company’s fair value hierarchies for its financial assets and liabilities which require fair value measurement on a recurring basis are as follows: Level 1 Level 2 Level 3 Total Balance at March 27, 2021 Liabilities Prefunded warrants liability $ — $ — $ — $ — Balance at June 26, 2021 Liabilities Prefunded warrants liability $ — $ — $ 1,657 $ 1,657 During the three June 26, 2021 March 27, 2021, no 1, 2, 3 not The fair value measurement of the prefunded warrants has been determined considering its intrinsic value because of the de-minimis exercise price of $0.01 per share. The Company’s common stock fair value is a significant Level 3 Prefunded warrants liability Balance at March 27, 2021 $ Initial fair value of prefunded warrants issued in April 2021 1,703 Gain on remeasurement of prefunded warrants liability (46 ) Balance at June 26, 2021 $ 1,657 There were no assets measured at fair value on a recurring basis and there were no assets measured at fair value on a non-recurring basis at June 26, 2021 March 27, 2021. March 27, 2021.

Note 8 - Sales of Common Stock

Note 8 - Sales of Common Stock and Prefunded Warrants	3 Months Ended
	Jun. 26, 2021
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	Note 8. Sales of Common Stock and Prefunded Warrants On April 27, 2021, The Prefunded Warrants are immediately exercisable and may not not 30 five first 2022. Pursuant to the terms of the Purchase Agreement, and as a condition to closing the private placement, the Company and each Investor simultaneously entered into a registration rights agreement (“Registration Rights Agreement”) requiring the Company to file a registration statement with the SEC within 45 On April 27, 2021, April 27, 2026. not On June 6, 2021, June 6, 2021. 14.

Note 9 - Income (Loss) Per Shar

Note 9 - Income (Loss) Per Share	3 Months Ended
	Jun. 26, 2021
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 9. Income (Loss) Per Share Basic income (loss) per share is calculated by dividing net income (loss) by the weighted average common shares outstanding during the period. Diluted EPS reflects the net incremental shares that would be issued if unvested restricted shares became vested and dilutive outstanding stock options were exercised, using the treasury stock method. In addition, certain options are considered antidilutive because assumed proceeds from exercise price, related tax benefits and average future compensation was greater than the weighted average number of options outstanding multiplied by the average market price during the period. Shares included in the diluted EPS calculation for the three June 26, 2021 June 27, 2020 (In thousands except per share data) Three Months Ended June 26, 2021 June 27, 2020 Net income (loss) $ (860 ) $ 72 Weighted average basic shares outstanding 2,725 2,636 Effect of dilutive securities — 190 Weighted-average dilutive shares 2,725 2,826 Basic earnings per share $ (0.32 ) $ 0.03 Diluted earnings per share $ (0.32 ) $ 0.03 There were no dilutive securities in the three June 26, 2021

Note 10 - Stock-based Compensat

Note 10 - Stock-based Compensation and Employee Benefits Plans	3 Months Ended
	Jun. 26, 2021
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	Note 10. Stock-based Compensation and Employee Benefit Plans The Company maintains the 2018 2018 2005 2005 During the first 2022, four first 2022 first 2021, not may not may June 26, 2021 March 27, 2021, As of June 26, 2021, 2018 Stock Options In calculating compensation related to stock option grants, the fair value of each stock option was estimated on the date of grant using the Black-Scholes-Merton option-pricing model and the following weighted average assumptions: Description Three Months Ended June 26, 2021 June 27, 2020 Dividend yield — — Expected volatility 107 % — Risk-free interest rate 0.82 % — Expected term (years) 5.50 — The computation of expected volatility used in the Black-Scholes-Merton option-pricing model is based on the historical volatility of the Company’s 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 is based on the U.S. Treasury rates with maturity similar to the expected term of the option on the date of grant. A summary of the changes in stock options outstanding for the three June 26, 2021 Description Shares Weighted Average Price per share Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding at March 27, 2021 374,808 5.00 7.90 $ — Granted 18,000 3.28 9.72 — Forfeited / Expired (15,228 ) 4.05 — — Outstanding at June 26, 2021 377,580 $ 4.90 $ 7.76 $ — Exercisable at June 26, 2021 157,169 $ 6.37 $ 6.09 $ — As of June 26, 2021, June 26, 2021 June 27, 2020. June 26, 2021 June 27, 2020 three June 26, 2021 June 27, 2020. three June 26, 2021 June 27, 2020 Restricted Stock The Company granted 18,000 restricted stock awards (“RSAs”) during the first 2022 first 2021. As of June 26, 2021, three June 26, 2021 June 27, 2020 A summary of the changes in non-vested RSAs outstanding for the three June 26, 2021 Restricted Stock Awards Shares Weighted Average Grant Date Fair Value Non-Vested at March 27, 2021 — $ — Granted 18,000 $ 4.12 Vested (3,000 ) $ 4.12 Non-Vested at June 26, 2021 15,000 $ 4.12

Note 11 - Significant Customer

Note 11 - Significant Customer and Industry Segment Information	3 Months Ended
	Jun. 26, 2021
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 11. Significant Customer and Industry Segment Information The Company has two reportable segments, Microsource and the Giga-tronics Division. Microsource’s primary business is the design of custom Microwave Integrated Components (“MIC”) as well as the production of MIC components using chip and wire assembly methods. Microsource offers a line of tunable, synthesized Band Reject Filters for solving interference problems in RADAR and Electronic Warfare ("RADAR/EW") applications. Self-protection systems onboard high-performance military aircraft often require RADAR filters to block electromagnetic interference generated by other onboard electronic systems, primarily from the aircraft’s main RADAR system. These high-speed, tunable notch filters can quickly block interference from both continuous wave and wide bandwidth emissions. Using proprietary driver and phase lock technology, these filters offer tuning speeds that are up to ten two The Giga-tronics Division designs, manufactures and markets a family of functional test products for the 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 table below presents information for the two Three Month Period Ended June 26, 2021 Description (Dollars in thousands) Giga-tronics Division Microsource Total Revenue $ 51 $ 1,999 $ 2,050 Interest expense, net $ (3 ) $ — $ (3 ) Depreciation and amortization $ 52 $ — $ 52 Income (loss) before income taxes $ (824 ) $ 10 $ (814 ) Assets $ 5,640 $ 2,571 $ 8,211 Three Month Period Ended June 27, 2020 Description (Dollars in thousands) Giga-tronics Division Microsource Total Revenue $ 1,109 $ 2,439 $ 3,548 Interest expense, net $ (33 ) $ — $ (33 ) Depreciation and amortization $ 68 $ — $ 68 Income (loss) before income taxes $ (130 ) $ 205 $ 75 Assets $ 6,319 $ 3,235 $ 9,554 During the first 2022, second first 2021, second

Note 12 - Income Taxes

Note 12 - Income Taxes	3 Months Ended
	Jun. 26, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 12. Income Taxes The Company accounts for income taxes using the asset and liability method as codified in Topic 740. The Company recorded no income tax expense for the three June 26, 2021 June 27, 2020. three June 26, 2021 June 27, 2020 As of June 26, 2021, not 12

Note 13 - Warranty Obligations

Note 13 - Warranty Obligations	3 Months Ended
	Jun. 26, 2021
Notes to Financial Statements
Product Warranty Disclosure [Text Block]	Note 13. Warranty Obligations The Company records a liability in cost of revenue 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 Warranty Obligations (Dollars in thousands) Three Months Ended June 26, 2021 June 27, 2020 Balance at beginning of period $ 51 $ 34 Provision, net 17 3 Warranty costs incurred (21 ) — Balance at end of period $ 47 $ 37

Note 14 - Preferred Stock and W

Note 14 - Preferred Stock and Warrants	3 Months Ended
	Jun. 26, 2021
Notes to Financial Statements
Preferred Stock [Text Block]	Note 14. P Series E Senior Convertible Voting Perpetual Preferred Stock On March 26, 2018, 15 2019 Holders of Series E Shares are entitled to receive, when 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% of the initial purchase price of $25.00 per share or in-kind (at the Company’s election) through the issuance of shares of the Company’s common stock, based on the 10 Series E Exchange The Company completed a private exchange offer on November 7, 2019, 3 9 1933 may During the three June 26, 2021, June 26, 2021. 8. The table below presents Preferred Stock information as of June 26, 2021 March 27, 2021: Preferred Stock Designated Shares Shares Liquidation As of June 26, 2021 Shares Issued Outstanding Preference Series B 10,000 9,997 9,245 $ 2,136 Series C 3,500 3,425 3,425 500 Series D 6,000 5,112 5,112 731 Series E 100,000 100,000 5,700 214 Total at June 26, 2021 119,500 118,534 23,482 $ 3,581 Preferred Stock Designated Shares Shares Liquidation As of March 27, 2021 Shares Issued Outstanding Preference Series B 10,000 9,997 9,245 $ 2,136 Series C 3,500 3,425 3,425 500 Series D 6,000 5,112 5,112 731 Series E 100,000 100,000 9,200 345 Total at March 27, 2021 119,500 118,534 26,982 $ 3,712

Note 15 - COVID-19 (Coronavirus

Note 15 - COVID-19 (Coronavirus)	3 Months Ended
	Jun. 26, 2021
Notes to Financial Statements
Unusual or Infrequent Items, or Both, Disclosure [Text Block]	Note 15. COVID- 19 On January 30, 2020, 19” March 2020 March 2020, 19 19 March 2020, The COVID- 19 19 not

Note 16 - Subsequent Events

Note 16 - Subsequent Events	3 Months Ended
	Jun. 26, 2021
Notes to Financial Statements
Subsequent Events [Text Block]	Note 16. Subsequent Events On July 28, 2021, no 480, 815, not July 28, 2021 8.

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 26, 2021
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation
Use of Estimates, Policy [Policy Text Block]	Use of Estimates

Note 2 - Inventories (Tables)

Note 2 - Inventories (Tables)	3 Months Ended
	Jun. 26, 2021
Notes Tables
Schedule of Inventory, Current [Table Text Block]	Category (Dollars in thousands) June 26, 2021 March 27, 2021 Raw materials $ 1,576 $ 946 Work-in-progress 2,621 2,418 Finished goods 125 129 Demonstration inventory 82 108 Total $ 4,404 $ 3,601

Note 6 - Leases (Tables)

Note 6 - Leases (Tables)	3 Months Ended
	Jun. 26, 2021
Notes Tables
Lease, Cost [Table Text Block]	Description (Dollars in thousands) Classification June 26, 2021 Operating lease costs Operating expenses $ 133
Leases, Other Information [Table Text Block]	Three month period ended June 26, 2021 Operating leases Operating cash used for leases $ 150
Finance and Operating Leases, Liability, Maturity [Table Text Block]	Description (Dollars in thousands) Operating leases 2022 (remaining 9 months) $ 377 2023 515 2024 209 Total future minimum lease payments 1,101 Less: imputed interest (108 ) Present value of lease liabilities $ 993

Note 7 - Fair Value Measureme_2

Note 7 - Fair Value Measurement (Tables)	3 Months Ended
	Jun. 26, 2021
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Level 1 Level 2 Level 3 Total Balance at March 27, 2021 Liabilities Prefunded warrants liability $ — $ — $ — $ — Balance at June 26, 2021 Liabilities Prefunded warrants liability $ — $ — $ 1,657 $ 1,657
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Prefunded warrants liability Balance at March 27, 2021 $ Initial fair value of prefunded warrants issued in April 2021 1,703 Gain on remeasurement of prefunded warrants liability (46 ) Balance at June 26, 2021 $ 1,657

Note 9 - Income (Loss) Per Sh_2

Note 9 - Income (Loss) Per Share (Tables)	3 Months Ended
	Jun. 26, 2021
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	(In thousands except per share data) Three Months Ended June 26, 2021 June 27, 2020 Net income (loss) $ (860 ) $ 72 Weighted average basic shares outstanding 2,725 2,636 Effect of dilutive securities — 190 Weighted-average dilutive shares 2,725 2,826 Basic earnings per share $ (0.32 ) $ 0.03 Diluted earnings per share $ (0.32 ) $ 0.03

Note 10 - Stock-based Compens_2

Note 10 - Stock-based Compensation and Employee Benefits Plans (Tables)	3 Months Ended
	Jun. 26, 2021
Notes Tables
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Description Three Months Ended June 26, 2021 June 27, 2020 Dividend yield — — Expected volatility 107 % — Risk-free interest rate 0.82 % — Expected term (years) 5.50 —
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Description Shares Weighted Average Price per share Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding at March 27, 2021 374,808 5.00 7.90 $ — Granted 18,000 3.28 9.72 — Forfeited / Expired (15,228 ) 4.05 — — Outstanding at June 26, 2021 377,580 $ 4.90 $ 7.76 $ — Exercisable at June 26, 2021 157,169 $ 6.37 $ 6.09 $ —
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]	Restricted Stock Awards Shares Weighted Average Grant Date Fair Value Non-Vested at March 27, 2021 — $ — Granted 18,000 $ 4.12 Vested (3,000 ) $ 4.12 Non-Vested at June 26, 2021 15,000 $ 4.12

Note 11 - Significant Custome_2

Note 11 - Significant Customer and Industry Segment Information (Tables)	3 Months Ended
	Jun. 26, 2021
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Month Period Ended June 26, 2021 Description (Dollars in thousands) Giga-tronics Division Microsource Total Revenue $ 51 $ 1,999 $ 2,050 Interest expense, net $ (3 ) $ — $ (3 ) Depreciation and amortization $ 52 $ — $ 52 Income (loss) before income taxes $ (824 ) $ 10 $ (814 ) Assets $ 5,640 $ 2,571 $ 8,211 Three Month Period Ended June 27, 2020 Description (Dollars in thousands) Giga-tronics Division Microsource Total Revenue $ 1,109 $ 2,439 $ 3,548 Interest expense, net $ (33 ) $ — $ (33 ) Depreciation and amortization $ 68 $ — $ 68 Income (loss) before income taxes $ (130 ) $ 205 $ 75 Assets $ 6,319 $ 3,235 $ 9,554

Note 13 - Warranty Obligations

Note 13 - Warranty Obligations (Tables)	3 Months Ended
	Jun. 26, 2021
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	Warranty Obligations (Dollars in thousands) Three Months Ended June 26, 2021 June 27, 2020 Balance at beginning of period $ 51 $ 34 Provision, net 17 3 Warranty costs incurred (21 ) — Balance at end of period $ 47 $ 37

Note 14 - Preferred Stock and_2

Note 14 - Preferred Stock and Warrants (Tables)	3 Months Ended
	Jun. 26, 2021
Notes Tables
Schedule of Stock by Class [Table Text Block]	Preferred Stock Designated Shares Shares Liquidation As of June 26, 2021 Shares Issued Outstanding Preference Series B 10,000 9,997 9,245 $ 2,136 Series C 3,500 3,425 3,425 500 Series D 6,000 5,112 5,112 731 Series E 100,000 100,000 5,700 214 Total at June 26, 2021 119,500 118,534 23,482 $ 3,581 Preferred Stock Designated Shares Shares Liquidation As of March 27, 2021 Shares Issued Outstanding Preference Series B 10,000 9,997 9,245 $ 2,136 Series C 3,500 3,425 3,425 500 Series D 6,000 5,112 5,112 731 Series E 100,000 100,000 9,200 345 Total at March 27, 2021 119,500 118,534 26,982 $ 3,712

Note 1 - Organization and Sig_2

Note 1 - Organization and Significant Accounting Policies (Details Textual)	Dec. 12, 2019
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	15

Note 2 - Inventories - Inventor

Note 2 - Inventories - Inventories, Net of Reserves (Details) - USD ($) $ in Thousands	Jun. 26, 2021	Mar. 27, 2021		Jun. 26, 2020
Raw materials	$ 1,576	$ 946
Work-in-progress	2,621	2,418
Finished goods	125	129
Demonstration inventory	82	108
Total	$ 4,404	$ 3,601	[1]	$ 4,404
[1]	Derived from the audited financial statements as of and for the fiscal year ended March 27, 2021.

Note 3 - Financed Receivables (

Note 3 - Financed Receivables (Details Textual) - Restated Financing Agreement [Member] - USD ($)	Mar. 11, 2019	Jun. 26, 2021	Jun. 27, 2020	Mar. 27, 2021
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
Proceeds from Lines of Credit, Total		$ 620,000	$ 344,000
Repayments of Lines of Credit		1,000,000	$ 424,000
Long-term Line of Credit, Total		$ 295,246		$ 683,382

Note 4 - Term Loan (Details Tex

Note 4 - Term Loan (Details Textual) - PFG Loan [Member] - USD ($) $ in Thousands	Jun. 26, 2021	Mar. 27, 2021	Apr. 27, 2017
Debt Instrument, Face Amount			$ 1,500
Long-term Debt, Total	$ 0	$ 0

Note 5 - Paycheck Protection _2

Note 5 - Paycheck Protection Program Under the Cares Act (Details Textual) - USD ($)	Apr. 23, 2020	Jun. 26, 2021	Jun. 27, 2020
Proceeds from Issuance of Long-term Debt, Total		$ 620,000	$ 1,131,000
Paycheck Protection Program CARES Act [Member]
Proceeds from Issuance of Long-term Debt, Total	$ 786,200

Note 6 - Leases (Details Textua

Note 6 - Leases (Details Textual)	Apr. 01, 2017USD ($)	Jun. 26, 2021USD ($)
Lessee, Operating Lease, Liability, Payments, Due, Total		$ 1,101,000
Dublin, CA [Member]
Lessee, Operating Lease, Term of Contract (Month)	77 months
Lessee, Operating Lease, Liability, Payments, Due, Total	$ 2,384,913
Lessee, Operating Lease, Annual Increase Per Rentable Square Foot	0.05
Lease Abatement Subject to Conditions	$ 173,079
Lease Abatement Subject To Conditions, Term (Month)	5 months
Operating Lease, Tenant Improvements Provided by Landlord	$ 358,095

Note 6 - Leases - Lease Costs (

Note 6 - Leases - Lease Costs (Details) $ in Thousands	3 Months Ended
	Jun. 26, 2021USD ($)
Operating lease costs	$ 133

Note 6 - Leases - Other Informa

Note 6 - Leases - Other Information (Details) $ in Thousands	3 Months Ended
	Jun. 26, 2021USD ($)
Operating cash used for leases	$ 150

Note 6 - Leases - Future Lease

Note 6 - Leases - Future Lease Payments (Details) $ in Thousands	Jun. 26, 2021USD ($)
2022 (remaining 9 months)	$ 377
2023	515
2024	209
Total future minimum lease payments	1,101
Less: imputed interest	(108)
Present value of lease liabilities	$ 993

Note 7 - Fair Value Measureme_3

Note 7 - Fair Value Measurement (Details Textual) $ in Thousands	Jun. 26, 2021USD ($)	Apr. 27, 2021	Mar. 27, 2021USD ($)
Fair Value, Recurring [Member]
Assets, Fair Value Disclosure	$ 0		$ 0
Financial and Nonfinancial Liabilities, Fair Value Disclosure			0
Fair Value, Nonrecurring [Member]
Assets, Fair Value Disclosure	$ 0		0
Financial and Nonfinancial Liabilities, Fair Value Disclosure			$ 0
Measurement Input, Exercise Price [Member] | Prefunded Warrants [Member]
Derivative Liability, Measurement Input		0.01

Note 7 - Fair Value Measureme_4

Note 7 - Fair Value Measurement - Fair Value Measurement on a Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Jun. 26, 2021	Mar. 27, 2021
Prefunded warrants liability	$ 1,657	$ 0
Fair Value, Inputs, Level 1 [Member]
Prefunded warrants liability	0	0
Fair Value, Inputs, Level 2 [Member]
Prefunded warrants liability	0	0
Fair Value, Inputs, Level 3 [Member]
Prefunded warrants liability	$ 1,657	$ 0

Note 7 - Fair Value Measureme_5

Note 7 - Fair Value Measurement - Level 3 Input Valuation of Warrants (Details) - Fair Value, Inputs, Level 3 [Member] - Warrant Liability [Member] $ in Thousands	3 Months Ended
	Jun. 26, 2021USD ($)
Balance at March 27, 2021	$ 0
Initial fair value of prefunded warrants issued in April 2021	1,703
Gain on remeasurement of prefunded warrants liability	(46)
Balance at June 26, 2021	$ 1,657

Note 8 - Sales of Common Stoc_2

Note 8 - Sales of Common Stock and Prefunded Warrants (Details Textual) - USD ($)	Jun. 06, 2021	Apr. 27, 2021	Nov. 07, 2019	Jun. 26, 2021	Jun. 27, 2020
Proceeds from Issuance of Warrants				$ 1,500,000	$ 0
Dividends, Common Stock, Total				203,000
Warrant Issuance Cost				157,000	0
Fair Value Adjustment of Warrants				(46,000)	0
Stock Issued During Period, Shares, New Issues (in shares)	46,154
Shares Issued, Price Per Share (in dollars per share)	$ 3.25
Proceeds from Issuance of Common Stock	$ 150,000			$ 145,000	$ 0
Proceeds from Issuance of Common Stock, Net	$ 145,000
Conversion of Series E Preferred Stock into Common Stock [Member]
Conversion of Stock, Shares Converted (in shares)	3,500		88,600	3,500
Prefunded Warrants [Member] | Measurement Input, Exercise Price [Member] | Minimum [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)		$ 0.01
Private Placement [Member] | Prefunded Warrants [Member]
Class of Warrant or Right, Number of Warrants Issued (in shares)		461,538
Proceeds from Issuance of Warrants		$ 1,500,000
Class of Warrant or Right, Price Per Warrant (in dollars per share)		$ 3.25
Proceeds from Issuance of Warrants, Net		$ 1,343,000
Class of Warrant or Right, Maximum Common Stock Ownership Percentage After The Exercise		9.99%
Derivative Liability, Total		$ 1,703,000
Dividends, Common Stock, Total		203,000
Warrant Issuance Cost		$ 157,000
Fair Value Adjustment of Warrants				$ (46,000)
Private Placement [Member] | Placement Agent Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)		$ 3.575
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)		23,076

Note 9 - Income (Loss) Per Sh_3

Note 9 - Income (Loss) Per Share (Details Textual) shares in Thousands	3 Months Ended
	Jun. 26, 2021shares
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	0

Note 9 - Income (Loss) Per Sh_4

Note 9 - Income (Loss) Per Share - Shares Included in Diluted EPS Calculation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 26, 2021	Jun. 27, 2020
Net income (loss)	$ (860)	$ 72
Weighted average basic shares outstanding (in shares)	2,725	2,636
Effect of dilutive securities (in shares)	0	190
Weighted-average dilutive shares (in shares)	2,725	2,826
Basic earnings per share (in dollars per share)	$ (0.32)	$ 0.03
Diluted earnings per share (in dollars per share)	$ (0.32)	$ 0.03

Note 10 - Stock-based Compens_3

Note 10 - Stock-based Compensation and Employee Benefits Plans (Details Textual) - USD ($)	3 Months Ended		12 Months Ended
	Jun. 26, 2021	Jun. 27, 2020	Mar. 27, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)	18,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares (in shares)	19,661	24,693
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value	$ 76,771	$ 105,124
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares)	0	0
Share-based Payment Arrangement, Option [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 393,602
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	1 year 5 months 4 days
Share-based Payment Arrangement, Expense	$ 129,000	$ 68,000
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		0
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	18,000	0
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 40,334
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	9 months
Share-based Payment Arrangement, Expense	$ 26,000	$ 8,000
The 2018 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)	416,667
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)	123,167
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)	18,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Fair Value	$ 58,974
The 2018 Equity Incentive Plan [Member] | Share-based Payment Arrangement, Option [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, 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

Note 10 - Stock-based Compens_4

Note 10 - Stock-based Compensation and Employee Benefits Plans - Weighted Average Assumptions (Details)	3 Months Ended
	Jun. 26, 2021	Jun. 27, 2020
Dividend yield	0.00%	0.00%
Expected volatility	107.00%	0.00%
Risk-free interest rate	0.82%	0.00%
Expected term (Year)	5 years 6 months

Note 10 - Stock-based Compens_5

Note 10 - Stock-based Compensation and Employee Benefits Plans - Changes in Stock Options Outstanding (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 26, 2021	Mar. 27, 2021
Outstanding, Shares (in shares)	374,808
Outstanding, weighted average exercise price (in dollars per share)	$ 5
Outstanding, Weighted average remaining contractual terms (Year)	7 years 9 months 3 days	7 years 10 months 24 days
Outstanding	$ 0	$ 0
Granted, Shares (in shares)	18,000
Granted, weighted average exercise price (in dollars per share)	$ 3.28
Granted, Weighted average remaining contractual terms (Year)	9 years 8 months 19 days
Forfeited / Expired, Shares (in shares)	(15,228)
Forfeited / Expired, weighted average exercise price (in dollars per share)	$ 4.05
Outstanding, Shares (in shares)	377,580	374,808
Outstanding, weighted average exercise price (in dollars per share)	$ 4.90	$ 5
Exercisable, Shares (in shares)	157,169
Exercisable, weighted average exercise price (in dollars per share)	$ 6.37
Exercisable, Weighted average remaining contractual terms (Year)	6 years 1 month 2 days
Exercisable	$ 0

Note 10 - Stock-based Compens_6

Note 10 - Stock-based Compensation and Employee Benefits Plans - Changes in Nonvested Restricted Stock Awards Outstanding (Details) - Restricted Stock [Member] - $ / shares	3 Months Ended
	Jun. 26, 2021	Jun. 27, 2020
Non-Vested, Shares (in shares)	0
Non-vested, Weighted average fair value (in dollars per share)	$ 0
Granted, Shares (in shares)	18,000	0
Granted, Weighted average fair value (in dollars per share)	$ 4.12
Vested, Shares (in shares)	(3,000)
Vested, Weighted average fair value (in dollars per share)	$ 4.12
Non-Vested, Shares (in shares)	15,000
Non-vested, Weighted average fair value (in dollars per share)	$ 4.12

Note 11 - Significant Custome_3

Note 11 - Significant Customer and Industry Segment Information (Details Textual)	3 Months Ended
	Jun. 26, 2021	Jun. 27, 2020
Number of Reportable Segments	2
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Microsource [Member]
Number of Major Customers	1	1
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Microsource [Member] | Customer One [Member]
Concentration Risk, Percentage	85.00%	54.00%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Microsource [Member] | Customer Two [Member]
Concentration Risk, Percentage	14.00%	28.00%

Note 11 - Significant Custome_4

Note 11 - Significant Customer and Industry Segment Information - Segment Reporting Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 26, 2021	Jun. 27, 2020	Mar. 27, 2021	[1]	Jun. 26, 2020
Revenue	$ 2,050	$ 3,548
Interest expense, net	(3)	(33)
Depreciation and amortization	52	68
Income (loss) before income taxes	(814)	75
Assets	8,211	9,554	$ 7,847		$ 8,211
Gigatronics Division [Member]
Revenue	51	1,109
Interest expense, net	(3)	(33)
Depreciation and amortization	52	68
Income (loss) before income taxes	(824)	(130)
Assets	5,640	6,319
Microsource [Member]
Revenue	1,999	2,439
Interest expense, net	0	0
Depreciation and amortization	0	0
Income (loss) before income taxes	10	205
Assets	$ 2,571	$ 3,235
[1]	Derived from the audited financial statements as of and for the fiscal year ended March 27, 2021.

Note 12 - Income Taxes (Details

Note 12 - Income Taxes (Details Textual) - USD ($) Pure in Thousands	3 Months Ended
	Jun. 26, 2021	Jun. 27, 2020
Income Tax Expense (Benefit), Total	$ 0	$ 0
Effective Income Tax Rate Reconciliation, Percent, Total	0.00%	0.00%
Unrecognized Tax Benefits, Ending Balance	$ 52,000
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total	$ 0

Note 13 - Warranty Obligation_2

Note 13 - Warranty Obligations - Reconciliation of Company's Warranty Reserve (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 26, 2021	Jun. 27, 2020
Balance at beginning of period	$ 51	$ 34
Provision, net	17	3
Warranty costs incurred	(21)	0
Balance at end of period	$ 47	$ 37

Note 14 - Preferred Stock and_3

Note 14 - Preferred Stock and Warrants (Details Textual) - USD ($)	Jun. 06, 2021	Nov. 07, 2019	Mar. 26, 2018	Jun. 26, 2021	Mar. 30, 2019	Mar. 27, 2021	[1]	Jun. 26, 2020
Stock Issued During Period, Shares, New Issues (in shares)	46,154
Shares Issued, Price Per Share (in dollars per share)	$ 3.25
Conversion of Series E Preferred Stock into Common Stock [Member]
Conversion of Stock, Shares Issued (in shares)		896,636		35,000
Conversion of Stock, Shares Converted (in shares)	3,500	88,600		3,500
Series E Preferred Stock [Member]
Stock Issued During Period, Shares, New Issues (in shares)			42,800		56,200
Preferred Stock, Dividend Rate, Percentage			6.00%
Proceeds from Issuance of Preferred Stock and Preference Stock			$ 1,100,000		$ 1,405,000
Proceeds from Issuance of Preferred Stock and Preference Stock, Net of Issuance Costs			$ 1,000,000		1,200,000
Payments of Stock Issuance Costs					$ 212,000
Shares Issued, Price Per Share (in dollars per share)			$ 25
Preferred Stock, Shares Outstanding, Ending Balance (in shares)				5,700		9,200		5,700
Preferred Stock, Liquidation Preference, Value				$ 214,000		$ 345,000		$ 214,000
[1]	Derived from the audited financial statements as of and for the fiscal year ended March 27, 2021.

Note 14 - Preferred Stock and_4

Note 14 - Preferred Stock and Warrants - Preferred Stock Information (Details) - USD ($)	Jun. 26, 2021	Mar. 27, 2021		Jun. 26, 2020
Designated shares (in shares)		1,000,000	[1]	1,000,000
Series B Preferred Stock [Member]
Designated shares (in shares)	10,000	10,000
Shares issued (in shares)	9,997	9,997
Preferred Stock, Shares Outstanding, Ending Balance (in shares)	9,245	9,245
Preferred Stock, Liquidation Preference, Value	$ 2,136,000	$ 2,136,000
Series C Preferred Stock [Member]
Designated shares (in shares)	3,500	3,500
Shares issued (in shares)	3,425	3,425
Preferred Stock, Shares Outstanding, Ending Balance (in shares)	3,425	3,425
Preferred Stock, Liquidation Preference, Value	$ 500,000	$ 500,000
Series D Preferred Stock [Member]
Designated shares (in shares)	6,000	6,000
Shares issued (in shares)	5,112	5,112
Preferred Stock, Shares Outstanding, Ending Balance (in shares)	5,112	5,112
Preferred Stock, Liquidation Preference, Value	$ 731,000	$ 731,000
Series E Preferred Stock [Member]
Designated shares (in shares)	100,000	100,000	[1]	100,000
Shares issued (in shares)	100,000	100,000	[1]	5,700
Preferred Stock, Shares Outstanding, Ending Balance (in shares)	5,700	9,200	[1]	5,700
Preferred Stock, Liquidation Preference, Value	$ 214,000	$ 345,000	[1]	$ 214,000
Series B, C, D, and E Preferred Stock [Member]
Designated shares (in shares)	119,500	119,500
Shares issued (in shares)	118,534	118,534
Preferred Stock, Shares Outstanding, Ending Balance (in shares)	23,482	26,982
Preferred Stock, Liquidation Preference, Value	$ 3,581,000	$ 3,712,000
[1]	Derived from the audited financial statements as of and for the fiscal year ended March 27, 2021.