Kopin (KOPN) 10-Q 5 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 26, 2022	May 04, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 26, 2022
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-25
Entity File Number	0-19882
Entity Registrant Name	KOPIN CORPORATION
Entity Central Index Key	0000771266
Entity Tax Identification Number	04-2833935
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	125 North Drive
Entity Address, City or Town	Westborough
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01581-3335
City Area Code	(508)
Local Phone Number	870-5959
Title of 12(b) Security	Common Stock, par value $0.01
Trading Symbol	KOPN
Security Exchange Name	NASDAQ
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		91,914,322

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Mar. 26, 2022	Dec. 25, 2021
Current assets:
Cash and cash equivalents	$ 21,867,492	$ 26,787,931
Marketable debt securities, at fair value	4,451,088	2,507,535
Accounts receivable, net of allowance of $295,000 in 2022 and $150,000 in 2021	6,777,310	12,113,070
Contract assets and unbilled receivables	2,552,201	2,299,392
Inventory	7,132,617	6,581,139
Prepaid taxes	119,163	160,599
Prepaid expenses and other current assets	2,095,034	1,758,079
Total current assets	44,994,905	52,207,745
Property, plant and equipment, net	1,939,506	1,888,963
Operating lease right-of-use assets	3,630,555	3,828,066
Other assets	170,932	170,932
Equity investments	9,553,628	4,912,022
Total assets	60,289,526	63,007,728
Current liabilities:
Accounts payable	5,865,030	5,483,970
Accrued payroll and expenses	2,760,369	2,413,744
Accrued warranty	970,000	517,000
Contract liabilities and billings in excess of revenues earned	1,756,202	4,063,031
Operating lease liabilities	658,298	701,204
Other accrued liabilities	2,108,625	1,202,635
Customer deposits	2,457,496	2,638,103
Deferred tax liabilities	497,102	513,417
Total current liabilities	17,073,122	17,533,104
Noncurrent contract liabilities and asset retirement obligations	273,913	288,634
Operating lease liabilities, net of current portion	2,946,994	3,108,236
Other long-term obligations	1,294,750	2,450,897
Total liabilities	21,588,779	23,380,871
Stockholders’ equity:
Preferred stock, par value $.01 per share: authorized, 3,000 shares; none issued
Common stock, par value $.01 per share: authorized, 150,000,000 shares; issued 92,176,761 shares in 2022 and 92,146,761 shares in 2021; outstanding 90,097,201 in 2022 and 89,988,528 in 2021	902,235	900,691
Additional paid-in capital	357,585,686	356,931,157
Treasury stock (126,389 and 80,641 shares in 2022 and 2021, at cost)	(461,723)	(366,110)
Accumulated other comprehensive income	1,300,445	1,414,351
Accumulated deficit	(320,453,539)	(319,080,898)
Total Kopin Corporation stockholders’ equity	38,873,104	39,799,191
Noncontrolling interest	(172,357)	(172,334)
Total Kopin Corporation stockholders’ equity	38,700,747	39,626,857
Total liabilities and stockholders’ equity	$ 60,289,526	$ 63,007,728

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Mar. 26, 2022	Dec. 25, 2021
Statement of Financial Position [Abstract]
Accounts receivable, allowance	$ 295,000	$ 150,000
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	3,000	3,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares, issued	92,176,761	92,146,761
Common stock, shares, outstanding	90,097,201	89,988,528
Treasury stock, shares	126,389	80,641

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Revenues:
Total revenues	$ 11,578,422	$ 11,676,369
Expenses:
Cost of product revenues	7,782,879	6,396,671
Research and development	5,408,613	3,563,300
Selling, general and administration	4,464,548	5,905,706
Total expenses	17,656,040	15,865,677
Loss from operations	(6,077,618)	(4,189,308)
Other income (expense):
Interest income	6,980	8,744
Other expense, net	(1,141)	(1,150)
Gain on investments	4,700,000
Foreign currency transaction gains	35,115	28,991
Total other income	4,740,954	36,585
Loss before provision for income taxes and net loss attributable to noncontrolling interest	(1,336,664)	(4,152,723)
Tax provision	(36,000)	(33,000)
Net loss	(1,372,664)	(4,185,723)
Net loss attributable to the noncontrolling interest	23	39,485
Net loss attributable to Kopin Corporation	$ (1,372,641)	$ (4,146,238)
Net loss per share
Basic and diluted	$ (0.02)	$ (0.05)
Weighted average number of common shares outstanding
Basic and diluted	90,121,226	87,378,288
Net Product Revenues [Member]
Revenues:
Total revenues	$ 6,507,528	$ 7,568,845
Research and Development Revenues [Member]
Revenues:
Total revenues	4,908,033	3,560,743
Other Revenues [Member]
Revenues:
Total revenues	$ 162,861	$ 546,781

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Income Statement [Abstract]
Net loss	$ (1,372,664)	$ (4,185,723)
Other comprehensive loss, net of tax:
Foreign currency translation adjustments	(5,932)	(27,842)
Unrealized holding (loss) gain on marketable securities	(107,451)	8,286
Reclassification of holding losses in net loss	(523)
Other comprehensive loss, net of tax	(113,906)	(19,556)
Comprehensive loss	(1,486,570)	(4,205,279)
Comprehensive loss attributable to the noncontrolling interest	23	39,485
Comprehensive loss attributable to Kopin Corporation	$ (1,486,547)	$ (4,165,794)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total Kopin Corporation Stockholders Equity [Member]	Noncontrolling Interest [Member]	Total
Beginning balance, value at Dec. 26, 2020	$ 880,075	$ 341,512,893	$ (9,793,946)	$ 1,484,434	$ (305,648,025)	$ 28,435,431	$ (136,836)	$ 28,298,595
Balance, shares at Dec. 26, 2020	88,007,535
Stock-based compensation expense		2,610,166				2,610,166		2,610,166
Vesting of restricted stock	$ 9,500	(9,500)
Vesting of restricted stock, shares	950,000
Restricted stock for tax withholding obligations	$ (37)	(32,668)				(32,705)		(32,705)
Restricted stock for tax withholding obligations, shares	(3,586)
Other comprehensive loss				(19,556)		(19,556)		(19,556)
Net loss					(4,146,238)	(4,146,238)	(39,485)	(4,185,723)
Sale of registered stock		6,336,470	9,183,614			15,520,084		15,520,084
Ending balance, value at Mar. 27, 2021	$ 889,538	350,417,361	(610,332)	1,464,878	(309,794,263)	42,367,182	(176,321)	42,190,861
Balance, shares at Mar. 27, 2021	88,953,949
Beginning balance, value at Dec. 25, 2021	$ 900,691	356,931,157	(366,110)	1,414,351	(319,080,898)	39,799,191	(172,334)	39,626,857
Balance, shares at Dec. 25, 2021	90,069,169
Stock-based compensation expense		656,073				656,073		656,073
Vesting of restricted stock	$ 1,544	(1,544)
Vesting of restricted stock, shares	154,421
Restricted stock for tax withholding obligations			(95,613)			(95,613)		(95,613)
Restricted stock for tax withholding obligations, shares
Other comprehensive loss				(113,906)		(113,906)		(113,906)
Net loss					(1,372,641)	(1,372,641)	(23)	(1,372,664)
Ending balance, value at Mar. 26, 2022	$ 902,235	$ 357,585,686	$ (461,723)	$ 1,300,445	$ (320,453,539)	$ 38,873,104	$ (172,357)	$ 38,700,747
Balance, shares at Mar. 26, 2022	90,223,590

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Cash flows from operating activities:
Net loss	$ (1,372,664)	$ (4,185,723)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	267,590	205,023
Accretion of premium or discount on marketable debt securities	128	1,534
Stock-based compensation	656,073	2,610,166
Loss on disposal of property and plant	202,671	14,950
Gain on investments	(4,700,000)
Income taxes	35,836	32,070
Foreign currency gains	(16,351)	(68,351)
Change in allowance for bad debt	(26,281)	95,931
Write-off of excess inventory	588,175	408,939
Other non-cash items	453,262	397,211
Changes in assets and liabilities:
Accounts receivable	5,777,308	1,258,770
Contract assets	(252,809)	2,406,334
Inventory	(1,156,461)	(1,398,350)
Prepaid expenses and other current assets	(314,361)	(773,067)
Accounts payable and accrued expenses	(107,657)	(966,202)
Billings in excess of revenue earned	(2,317,122)	(284,515)
Net cash used in operating activities	(2,282,663)	(245,280)
Cash flows from investing activities:
Capital expenditures	(524,368)	(346,450)
Purchases of marketable debt securities	(3,000,030)
Proceeds from sale of marketable debt securities	1,000,000	200,000
Net cash used in investing activities	(2,524,398)	(146,450)
Cash flows from financing activities:
Sale of treasury stock, net of costs		15,520,084
Settlements of restricted stock for tax withholding obligations	(95,613)	(32,705)
Net cash (used in) provided by financing activities	(95,613)	15,487,379
Effect of exchange rate changes on cash	(17,765)	(5,207)
Net (decrease) increase in cash and cash equivalents	(4,920,439)	15,090,442
Cash and cash equivalents:
Beginning of period	26,787,931	17,112,869
End of period	$ 21,867,492	$ 32,203,311

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 26, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	1. BASIS OF PRESENTATION The condensed consolidated financial statements of Kopin Corporation as of March 26, 2022 and for the three month periods ended March 26, 2022 and March 27, 2021 are unaudited and include all adjustments that, in the opinion of management, are necessary to present fairly the results of operations for the periods then ended. These condensed consolidated financial statements should be read in conjunction with the Company’s financial statements and notes thereto, included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 25, 2021. The results of the Company’s operations for any interim period are not necessarily indicative of the results of the Company’s operations for any other interim period or for a full fiscal year. As used in this report, the terms “we”, “us”, “our”, “Kopin” and the “Company” mean Kopin Corporation and its subsidiaries, unless the context indicates another meaning. The Company’s products are targeted towards the defense and industrial/enterprise and consumer wearable markets. The Company’s revenues from sales of products into the consumer market include sales of its organic light emitting diode (OLED) displays. The Company’s OLED products are relatively new and sales are sporadic. Management believes the enterprise wearable market is still developing and cannot predict how long it will take to develop or if the Company’s products will be accepted. In addition, the Company’s current strategy is to continue to invest in research and development, even during unprofitable periods, which may result in the Company continuing to incur net losses and negative cash flows from operations. If the Company is unable to achieve and maintain positive cash flows and profitability in the foreseeable future, its financial condition may ultimately be materially adversely affected such that management may be required to reduce operating expenses, including investments in research and development, or raise additional capital. While there can be no assurance the Company will be able to successfully reduce operating expenses or raise additional capital, management believes its historical success in managing cash flows and obtaining capital will continue in the foreseeable future.

ACCOUNTING STANDARDS

ACCOUNTING STANDARDS	3 Months Ended
	Mar. 26, 2022
Accounting Policies [Abstract]
ACCOUNTING STANDARDS	2. ACCOUNTING STANDARDS Accounting Standards Issued But Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments

CASH AND CASH EQUIVALENTS AND M

CASH AND CASH EQUIVALENTS AND MARKETABLE DEBT SECURITIES	3 Months Ended
	Mar. 26, 2022
Cash and Cash Equivalents [Abstract]
CASH AND CASH EQUIVALENTS AND MARKETABLE DEBT SECURITIES	3. CASH AND CASH EQUIVALENTS AND MARKETABLE DEBT SECURITIES The Company considers all highly liquid, short-term debt instruments with original maturities of three months or less to be cash equivalents. Marketable debt securities consist primarily of commercial paper, medium-term corporate notes, and U.S. government and agency backed securities. The Company classifies these marketable debt securities as available-for-sale at fair value in “Marketable debt securities, at fair value.” The Company records the amortization of premium and accretion of discounts on marketable debt securities in the results of operations. The Company uses the specific identification method as a basis for determining cost and calculating realized gains and losses with respect to marketable debt securities. The gross gains and losses realized related to sales and maturities of marketable debt securities were not material during the three months ended March 26, 2022 and March 27, 2021. Investments in available-for-sale marketable debt securities were as follows at March 26, 2022 and December 25, 2021: SCHEDULE OF AVAILABLE-FOR-SALE MARKETABLE DEBT SECURITIES Amortized Cost Unrealized (Losses) Gains Fair Value 2022 2021 2022 2021 2022 2021 U.S. government and agency backed securities $ 2,000,006 $ 1,000,128 $ (49,326 ) $ 522 $ 1,950,680 $ 1,000,650 Corporate debt and certificates of deposit 2,500,024 1,500,000 384 6,885 2,500,408 1,506,885 Total $ 4,500,030 $ 2,500,128 $ (48,942 ) $ 7,407 $ 4,451,088 $ 2,507,535 The contractual maturity of the Company’s marketable debt securities was as follows at March 26, 2022: SCHEDULE OF MARKETABLE DEBT SECURITIES Less than One year One to Five years Total U.S. government and agency backed securities $ — $ 1,950,680 $ 1,950,680 Corporate debt 1,998,263 502,145 2,500,408 Total $ 1,998,263 $ 2,452,825 $ 4,451,088

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 26, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	4. FAIR VALUE MEASUREMENTS Financial instruments are categorized as Level 1, Level 2 or Level 3 based upon the method by which their fair value is computed. An investment is categorized as Level 1 when its fair value is based on unadjusted quoted prices in active markets for identical assets that the Company has the ability to access at the measurement date. An investment is categorized as Level 2 if its fair market value is based on quoted market prices for similar assets in active markets, quoted prices for identical or similar assets in markets that are not active, based on observable inputs such as interest rates, yield curves, or derived from or corroborated by observable market data by correlation or other means. An investment is categorized as Level 3 if its fair value is based on assumptions developed by the Company about what a market participant would use in pricing the assets. The following table details the fair value measurements of the Company’s financial assets: SCHEDULE OF FAIR VALUE MEASUREMENTS OF FINANCIAL ASSETS Fair Value Measurement at March 26, 2022 Using: Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 21,867,492 $ 21,867,492 $ — $ — U.S. government and agency-backed securities 1,950,680 — 1,950,680 — Corporate debt 1,501,745 — 1,501,745 — Certificates of deposit 998,663 998,663 — — Equity investments 9,553,628 244,549 — 9,309,079 $ 35,872,208 $ 23,110,704 $ 3,452,425 $ 9,309,079 Fair Value Measurement at December 25, 2021 Using: Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 26,787,931 $ 26,787,931 $ — $ — U.S. government and agency- backed securities 1,000,650 — 1,000,650 — Corporate debt 1,506,885 — 1,506,885 — Equity investments 4,912,022 296,173 — 4,615,849 $ 34,207,488 $ 27,084,104 $ 2,507,535 $ 4,615,849 Transfers between levels of the fair value hierarchy are reported at the beginning of the reporting period in which they occur. Changes in Level 3 investments were as follows: SCHEDULE OF FAIR VALUE, LIABILITIES MEASURED ON RECURRING BASIS December 25, 2021 Net unrealized gains Purchases, issuances and settlements Transfers in and or out of Level 3 March 26, 2022 Equity Investments $ 4,912,022 $ 4,641,606 $ — $ — $ 9,553,628 The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities approximate fair value because of their short-term nature. If accrued liabilities were carried at fair value, these would be classified as Level 2 in the fair value hierarchy. Marketable Debt Securities Corporate debt consists of floating rate notes with a maturity that may be over multiple years but has interest rates that are reset every three months based on the then-current three-month London Interbank Offering Rate (“three-month Libor”). The Company validates the fair market values of the financial instruments above by using discounted cash flow models, obtaining independent pricing of the securities or through the use of a model that incorporates the three-month Libor, the credit default swap rate of the issuer and the bid and ask price spread of the same or similar investments which are traded on several markets. Equity Investments From 2017 through 2019, the Company made several equity investments in a customer. In the fourth quarter of 2019, the Company reviewed the financial condition and other factors of the customer and, as a result, recorded an impairment charge of $ 5.2 million to reduce its investment in the customer to zero as of December 28, 2019. In the first quarter of 2022 the customer raised additional equity capital and based on an observable price change of the customer’s share prices and terms of the equity sale the Company remeasured the fair market value of its investment and recorded a gain of $ 4.7 million. As of March 26, 2022, the Company owned an approximate 2.3 % interest in this investment. During the three months ended March 26, 2022, the Company recorded a less than $ 0.1

INVENTORY

INVENTORY	3 Months Ended
	Mar. 26, 2022
Inventory Disclosure [Abstract]
INVENTORY	5. INVENTORY Inventories are stated at standard cost adjusted to approximate the lower of cost (first-in, first-out method) or net realizable value and consist of the following at March 26, 2022 and December 25, 2021: SCHEDULE OF INVENTORY March 26, 2022 December 25, 2021 Raw materials $ 5,629,085 $ 5,044,334 Work-in-process 984,241 1,032,519 Finished goods 519,291 504,286 Total $ 7,132,617 $ 6,581,139

NET LOSS PER SHARE

NET LOSS PER SHARE	3 Months Ended
	Mar. 26, 2022
Net loss per share
NET LOSS PER SHARE	6. NET LOSS PER SHARE Basic net loss per share is computed using the weighted-average number of shares of common stock outstanding during the period less any unvested restricted shares. Diluted net loss per share is calculated using weighted-average shares outstanding and contingently issuable shares, less weighted-average shares reacquired during the period. The net outstanding shares are adjusted for the dilutive effect of shares issuable upon the assumed conversion of the Company’s common stock equivalents, which consist of unvested restricted stock. The following were not included in weighted-average common shares outstanding-diluted because they are anti-dilutive or performance conditions have not been met at the end of the period: SCHEDULE OF WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING DILUTED Three months ended Three months ended March 26, 2022 March 27, 2021 Non-vested restricted common stock 1,953,171 2,490,717

STOCKHOLDERS_ EQUITY AND STOCK-

STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION	3 Months Ended
	Mar. 26, 2022
Equity [Abstract]
STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION	7. STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION Registered sale of equity securities During the three months ended March 27, 2021, we sold 2.4 million shares of common stock for gross proceeds of $ 16 million (average of $ 6.66 per share), before deducting broker expenses paid by us of $ 0.5 million, pursuant to our At-The-Market Equity Offering Sales Agreement dated as of February 8, 2019 (the “Previous ATM Agreement”) with Stifel, Nicolaus & Company, Incorporated (“Stifel”), as agent. The Previous ATM Agreement has since terminated pursuant to its terms as a result of the sale of all the shares subject to such agreement. On March 5, 2021 the Company entered into a new At-The-Market Equity Offering Sales Agreement dated as of March 5, 2021 (the “Current ATM Agreement”) with Stifel under which the Company may sell up to $ 50 million of its common stock. Non-Vested Restricted Common Stock The fair value of non-vested restricted common stock awards is generally the market value of the Company’s common stock on the date of grant. The non-vested restricted common stock awards require the employee to fulfill certain obligations, including remaining employed by the Company for one, two or four years (the vesting period) and in certain cases also require meeting either performance criteria or the Company’s stock achieving a certain price. For non-vested restricted common stock awards that solely require the recipient to remain employed with the Company, the stock compensation expense is amortized over the anticipated service period. For non-vested restricted common stock awards that require the achievement of performance criteria, the Company reviews the probability of achieving the performance goals on a periodic basis. If the Company determines that it is probable that the performance criteria will be achieved, the amount of compensation cost derived for the performance goal is amortized over the anticipated service period. If the performance criteria are not met, no compensation cost is recognized and any previously recognized compensation cost is reversed. Restricted stock activity for the three month period ended March 26, 2022 was as follows: SCHEDULE OF NON-VESTED RESTRICTED STOCK ACTIVITY Shares Weighted Average Grant Fair Value Balance, December 25, 2021 2,077,592 $ 2.90 Granted 37,100 2.36 Forfeited (7,100 ) 4.40 Vested (154,421 ) 2.73 Balance, March 26, 2022 1,953,171 $ 2.90 Stock-Based Compensation The following table summarizes stock-based compensation expense within each of the categories below as it relates to non-vested restricted common stock awards for the three months ended March 26, 2022 and March 27, 2021 (no tax benefits were recognized): SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE Three Months Ended Three Months Ended March 26, 2022 March 27, 2021 Cost of product revenues $ 66,668 $ 133,784 Research and development 147,379 94,053 Selling, general and administrative 442,026 2,382,329 Total $ 656,073 $ 2,610,166 Unrecognized compensation expense for non-vested restricted common stock as of March 26, 2022 totaled $ 3.7 three years

ACCRUED WARRANTY

ACCRUED WARRANTY	3 Months Ended
	Mar. 26, 2022
Guarantees and Product Warranties [Abstract]
ACCRUED WARRANTY	8. ACCRUED WARRANTY The Company typically warrants its products against defect for 12 to 18 months, however, for certain products a customer may purchase an extended warranty SCHEDULE OF ACCRUED WARRANTY Balance, December 25, 2021 $ 517,000 Additions 725,000 Claims (272,000 ) Balance, March 26, 2022 $ 970,000 Extended Warranties Deferred revenue represents the purchase of extended warranties by the Company’s customers. The Company recognizes revenue from an extended warranty on the straight-line method over the life of the extended warranty, which is typically 12 to 15 months beyond the standard 12 to 18-month warranty . The Company classifies the current portion of deferred revenue under Other accrued liabilities in its condensed consolidated balance sheets. At March 26, 2022, the Company had less than $ 0.1 million of deferred revenue related to extended warranties.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 26, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	9. INCOME TAXES The Company recorded a provision for income taxes of less than $ 0.1 million in each of the three months ended March 26, 2022 and the three months ended March 27, 2021. As of March 26, 2022, the Company has available for tax purposes U.S. federal net operating loss carryforwards (“NOLs”) of approximately $ 160.3 million expiring 2022 through 2037 and $ 76.0 million that have an unlimited carryover period. The Company has recognized a full valuation allowance on its domestic and certain foreign net deferred tax assets due to the uncertainty of realization of such assets. The Company recognizes both accrued interest and penalties related to its uncertain tax positions related to intercompany loan interest and potential transfer pricing exposure related to its foreign subsidiaries.

CONTRACT ASSETS AND LIABILITIES

CONTRACT ASSETS AND LIABILITIES	3 Months Ended
	Mar. 26, 2022
Contract Assets And Liabilities
CONTRACT ASSETS AND LIABILITIES	10. CONTRACT ASSETS AND LIABILITIES Contract assets include unbilled amounts typically resulting from sales under contracts when the cost-to-cost method of revenue recognition is utilized and revenue recognized from customer arrangements, including licensing, exceeds the amount billed to the customer, and right to payment is not just subject to the passage of time. Amounts may not exceed their net realizable value. Contract assets are generally classified as current. The Company classifies the noncurrent portion of contract assets under other assets in its condensed consolidated balance sheets. Contract liabilities consist of advance payments and billings in excess of cost incurred and deferred revenue. Net contract assets (liabilities) consisted of the following: SCHEDULE OF CONTRACT WITH CUSTOMER, ASSET AND LIABILITY March 26, 2022 December 25, 2021 $ Change % Change Contract assets—current $ 2,552,201 $ 2,299,392 $ 252,809 11 % Contract liabilities and billings in excess of revenues earned (1,756,202 ) (4,063,031 ) 2,306,829 (57 )% Contract liabilities—noncurrent (10,371 ) (20,664 ) 10,293 (50 )% Net contract assets (liabilities) $ 785,628 $ (1,784,303 ) $ 2,569,931 (144 )% The $ 2.6 million increase in the Company’s net contract assets (liabilities) at March 26, 2022 as compared to December 25, 2021 was primarily due to recording of revenue earned against advanced payments. In the three months ended March 26, 2022, the Company recognized revenue of $ 2.9 1.2 The Company did not recognize impairment losses on our contract assets in the three months ended March 26, 2022 or March 27, 2021. Performance Obligations The Company’s revenue recognition related to performance obligations that were satisfied at a point in time and over time were as follows: SCHEDULE OF SATISFACTION OF PERFORMANCE OBLIGATIONS Three months ended Three months ended March 26, 2022 March 27, 2021 Point in time 20 % 32 % Over time 80 % 68 % Remaining performance obligations represent the transaction price of orders for which work has not been performed and excludes unexercised contract options and potential orders under ordering-type contracts (e.g., indefinite-delivery, indefinite-quantity (“IDIQ”)). As of March 26, 2022, the aggregate amount of the transaction price allocated to remaining performance obligations was $ 29.3

LEASES

LEASES	3 Months Ended
	Mar. 26, 2022
Leases
LEASES	11. LEASES The Company enters into operating leases primarily for: real estate, including for manufacturing, engineering, research, administration and sales facilities, and information technology (“IT”) equipment. At March 26, 2022 and December 25, 2021, the Company did not have any finance leases. Approximately all of our future lease commitments, and related lease liability, relate to the Company’s real estate leases. Some of the Company’s leases include options to extend or terminate the lease. The components of lease expense were as follows: SCHEDULE OF LEASE EXPENSE Three months ended Three months ended March 26, 2022 March 27, 2021 Operating lease cost $ 249,503 $ 290,884 At March 26, 2022, the Company’s future lease payments under non-cancellable leases were as follows: SCHEDULE OF FUTURE LEASE PAYMENT UNDER NON-CANCELLABLE LEASE 2022 (excluding the three months ended March 26, 2022) $ 645,519 2023 867,756 2024 769,923 2025 604,000 2026 604,000 Thereafter 805,333 Total future lease payments 4,296,531 Less imputed interest (691,239 ) Total $ 3,605,292 The Company’s lease liabilities recognized in the Company’s condensed consolidated balance sheet at March 26, 2022 were as follows: SCHEDULE OF OPERATING LEASE PAYMENTS RECOGNIZED IN CONSOLIDATED BALANCE SHEETS March 26, 2022 Operating lease liabilities–current $ 658,298 Operating lease liabilities–noncurrent 2,946,994 Total lease liabilities $ 3,605,292 Supplemental cash flow information related to leases was as follows: SCHEDULE OF SUPPLEMENTAL INFORMATION RELATED TO LEASES Three months ended March 26, 2022 Cash paid for amounts included in the measurement of operating lease liabilities $ 248,754 Other information related to leases was as follows: March 26, 2022 Weighted Average Discount Rate–Operating Leases 5.92 % Weighted Average Remaining Lease Term–Operating Leases (in years) 5.53

SEGMENTS AND DISAGGREGATION OF

SEGMENTS AND DISAGGREGATION OF REVENUE	3 Months Ended
	Mar. 26, 2022
Segment Reporting [Abstract]
SEGMENTS AND DISAGGREGATION OF REVENUE	12. SEGMENTS AND DISAGGREGATION OF REVENUE We continually monitor and review our segment reporting structure in accordance with authoritative guidance to determine if any changes have occurred that would affect our reportable segments. We report under one segment, as our Chief Executive Officer, who is our chief operating decision maker (“CODM”), reviews results on a total company basis. Total long-lived assets by country at March 26, 2022 and December 25, 2021 were: SCHEDULE OF LONG-LIVED ASSETS BY GEOGRAPHIC AREAS Total Long-lived Assets (in thousands) March 26, 2022 December 25, 2021 U.S. $ 5,287 $ 5,381 United Kingdom 226 264 Japan 57 72 Total $ 5,570 $ 5,717 Total Long-lived Assets $ 5,570 $ 5,717 We disaggregate our revenue from contracts with customers by geographic location and by display application, as we believe it best depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. During the three months ended March 26, 2022 and March 27, 2021, the Company derived its sales from the following geographies: SCHEDULE OF SEGMENT INFORMATION BY REVENUE TYPE March 26, 2022 March 27, 2021 (In thousands, except percentages) Revenue % of Total Revenue % of Total United States $ 9,297 80 % $ 8,180 70 % Asia-Pacific 2,144 19 3,275 28 Europe 137 1 221 2 Total Revenues $ 11,578 100 % $ 11,676 100 % During the three months ended March 26, 2022 and March 27, 2021, the Company derived its sales from the following display applications: SCHEDULE OF SEGMENT REPORTING INFORMATION, BY SEGMENT (In thousands) March 26, 2022 March 27, 2021 Defense $ 4,757 $ 4,993 Industrial 1,530 2,041 Consumer 220 534 R&D 4,908 3,561 License and royalties 163 547 Total Revenues $ 11,578 $ 11,676

LITIGATION

LITIGATION	3 Months Ended
	Mar. 26, 2022
Commitments and Contingencies Disclosure [Abstract]
LITIGATION	13. LITIGATION The Company may engage in legal proceedings arising in the ordinary course of business. Claims, suits, investigations and proceedings are inherently uncertain and it is not possible to predict the ultimate outcome of such matters and our business, financial condition, results of operations or cash flows could be affected in any particular period. BlueRadios, Inc. v. Kopin Corporation, Civil Action No. 16-02052-JLK (D. Col.): On August 12, 2016, BlueRadios, Inc. (“BlueRadios”) filed a complaint in the U.S. District Court for the District of Colorado, alleging that the Company breached a contract between it and BlueRadios concerning an alleged joint venture between the Company and BlueRadios to design, develop and commercialize micro-display products with embedded wireless technology referred to as “Golden-i,” breached the covenant of good faith and fair dealing associated with that contract, breached its fiduciary duty to BlueRadios, and misappropriated trade secrets owned by BlueRadios in violation of Colorado law (C.R.S. § 7-74-104(4)) and the Defend Trade Secrets Act (18 U.S.C. § 1836(b)(1)). BlueRadios further alleges that the Company was unjustly enriched by its alleged misconduct, BlueRadios is entitled to an accounting to determine the amount of profits obtained by the Company as a result of its alleged misconduct, and the inventorship on at least ten patents or patent applications owned by the Company need to be corrected to list BlueRadios’ employees as inventors and thereby list BlueRadios as co-assignees of the patents. BlueRadios seeks monetary, declaratory, and injunctive relief, including for alleged non-payment of engineering retainer fees. On October 11, 2016, the Company filed its Answer and Affirmative Defenses. The parties completed expert depositions on November 15, 2019. On December 2, 2019, the Company filed a Motion for Partial Summary Judgment requesting the Court dismiss counts 2-7 in their entirety and counts 1 and 8 in part. BlueRadios also filed a Motion for Partial Summary Judgment alleging it is the co-owner of U.S. Patent No. 8,909,296. Responses to the Motions for Partial Summary Judgment were filed on January 15, 2020, and replies were filed on February 19, 2020. On September 25, 2020, the Court denied BlueRadios’ Motion for Partial Summary Judgment. A trial date has not yet been set by the Court. The Company has not concluded a loss from this matter is probable; therefore, we have not recorded an accrual for litigation or claims related to this matter for the period ended March 26, 2022. The Company will continue to evaluate information as it becomes known and will record an estimate for losses at the time or times when it is both probable that a loss has been incurred and the amount of the loss is reasonably estimable.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 26, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	14. RELATED PARTY TRANSACTIONS The Company may from time to time enter into agreements with stockholders, affiliates and other companies engaged in certain aspects of the display, electronics, optical and software industries as part of our business strategy. In addition, the wearable computing product market is relatively new and there may be other technologies the Company needs to purchase from affiliates to enhance its product offering. During the three-month periods ended March 26, 2022 and March 27, 2021, the Company had the following transactions with related parties: SCHEDULE OF TRANSACTIONS WITH RELATED PARTIES Three months ended Three months ended March 26, 2022 March 27, 2021 Sales Purchases Sales Purchases RealWear, Inc. $ 624,216 $ — $ 1,323,885 $ — At March 26, 2022 and December 25, 2021, the Company had the following receivables and contract assets with related parties: March 26, 2022 December 25, 2021 Receivables Contract assets Receivables Contract assets RealWear, Inc. $ 628,923 $ — $ 306,307 $ —

ACCOUNTING STANDARDS (Policies)

ACCOUNTING STANDARDS (Policies)	3 Months Ended
	Mar. 26, 2022
Accounting Policies [Abstract]
Accounting Standards Issued But Not Yet Adopted	Accounting Standards Issued But Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments

CASH AND CASH EQUIVALENTS AND_2

CASH AND CASH EQUIVALENTS AND MARKETABLE DEBT SECURITIES (Tables)	3 Months Ended
	Mar. 26, 2022
Cash and Cash Equivalents [Abstract]
SCHEDULE OF AVAILABLE-FOR-SALE MARKETABLE DEBT SECURITIES	Investments in available-for-sale marketable debt securities were as follows at March 26, 2022 and December 25, 2021: SCHEDULE OF AVAILABLE-FOR-SALE MARKETABLE DEBT SECURITIES Amortized Cost Unrealized (Losses) Gains Fair Value 2022 2021 2022 2021 2022 2021 U.S. government and agency backed securities $ 2,000,006 $ 1,000,128 $ (49,326 ) $ 522 $ 1,950,680 $ 1,000,650 Corporate debt and certificates of deposit 2,500,024 1,500,000 384 6,885 2,500,408 1,506,885 Total $ 4,500,030 $ 2,500,128 $ (48,942 ) $ 7,407 $ 4,451,088 $ 2,507,535
SCHEDULE OF MARKETABLE DEBT SECURITIES	The contractual maturity of the Company’s marketable debt securities was as follows at March 26, 2022: SCHEDULE OF MARKETABLE DEBT SECURITIES Less than One year One to Five years Total U.S. government and agency backed securities $ — $ 1,950,680 $ 1,950,680 Corporate debt 1,998,263 502,145 2,500,408 Total $ 1,998,263 $ 2,452,825 $ 4,451,088

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 26, 2022
Fair Value Disclosures [Abstract]
SCHEDULE OF FAIR VALUE MEASUREMENTS OF FINANCIAL ASSETS	The following table details the fair value measurements of the Company’s financial assets: SCHEDULE OF FAIR VALUE MEASUREMENTS OF FINANCIAL ASSETS Fair Value Measurement at March 26, 2022 Using: Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 21,867,492 $ 21,867,492 $ — $ — U.S. government and agency-backed securities 1,950,680 — 1,950,680 — Corporate debt 1,501,745 — 1,501,745 — Certificates of deposit 998,663 998,663 — — Equity investments 9,553,628 244,549 — 9,309,079 $ 35,872,208 $ 23,110,704 $ 3,452,425 $ 9,309,079 Fair Value Measurement at December 25, 2021 Using: Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 26,787,931 $ 26,787,931 $ — $ — U.S. government and agency- backed securities 1,000,650 — 1,000,650 — Corporate debt 1,506,885 — 1,506,885 — Equity investments 4,912,022 296,173 — 4,615,849 $ 34,207,488 $ 27,084,104 $ 2,507,535 $ 4,615,849
SCHEDULE OF FAIR VALUE, LIABILITIES MEASURED ON RECURRING BASIS	Transfers between levels of the fair value hierarchy are reported at the beginning of the reporting period in which they occur. Changes in Level 3 investments were as follows: SCHEDULE OF FAIR VALUE, LIABILITIES MEASURED ON RECURRING BASIS December 25, 2021 Net unrealized gains Purchases, issuances and settlements Transfers in and or out of Level 3 March 26, 2022 Equity Investments $ 4,912,022 $ 4,641,606 $ — $ — $ 9,553,628

INVENTORY (Tables)

INVENTORY (Tables)	3 Months Ended
	Mar. 26, 2022
Inventory Disclosure [Abstract]
SCHEDULE OF INVENTORY	Inventories are stated at standard cost adjusted to approximate the lower of cost (first-in, first-out method) or net realizable value and consist of the following at March 26, 2022 and December 25, 2021: SCHEDULE OF INVENTORY March 26, 2022 December 25, 2021 Raw materials $ 5,629,085 $ 5,044,334 Work-in-process 984,241 1,032,519 Finished goods 519,291 504,286 Total $ 7,132,617 $ 6,581,139

NET LOSS PER SHARE (Tables)

NET LOSS PER SHARE (Tables)	3 Months Ended
	Mar. 26, 2022
Net loss per share
SCHEDULE OF WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING DILUTED	The following were not included in weighted-average common shares outstanding-diluted because they are anti-dilutive or performance conditions have not been met at the end of the period: SCHEDULE OF WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING DILUTED Three months ended Three months ended March 26, 2022 March 27, 2021 Non-vested restricted common stock 1,953,171 2,490,717

STOCKHOLDERS_ EQUITY AND STOC_2

STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 26, 2022
Equity [Abstract]
SCHEDULE OF NON-VESTED RESTRICTED STOCK ACTIVITY	Restricted stock activity for the three month period ended March 26, 2022 was as follows: SCHEDULE OF NON-VESTED RESTRICTED STOCK ACTIVITY Shares Weighted Average Grant Fair Value Balance, December 25, 2021 2,077,592 $ 2.90 Granted 37,100 2.36 Forfeited (7,100 ) 4.40 Vested (154,421 ) 2.73 Balance, March 26, 2022 1,953,171 $ 2.90
SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE	The following table summarizes stock-based compensation expense within each of the categories below as it relates to non-vested restricted common stock awards for the three months ended March 26, 2022 and March 27, 2021 (no tax benefits were recognized): SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE Three Months Ended Three Months Ended March 26, 2022 March 27, 2021 Cost of product revenues $ 66,668 $ 133,784 Research and development 147,379 94,053 Selling, general and administrative 442,026 2,382,329 Total $ 656,073 $ 2,610,166

ACCRUED WARRANTY (Tables)

ACCRUED WARRANTY (Tables)	3 Months Ended
	Mar. 26, 2022
Guarantees and Product Warranties [Abstract]
SCHEDULE OF ACCRUED WARRANTY	SCHEDULE OF ACCRUED WARRANTY Balance, December 25, 2021 $ 517,000 Additions 725,000 Claims (272,000 ) Balance, March 26, 2022 $ 970,000

CONTRACT ASSETS AND LIABILITI_2

CONTRACT ASSETS AND LIABILITIES (Tables)	3 Months Ended
	Mar. 26, 2022
Contract Assets And Liabilities
SCHEDULE OF CONTRACT WITH CUSTOMER, ASSET AND LIABILITY	Net contract assets (liabilities) consisted of the following: SCHEDULE OF CONTRACT WITH CUSTOMER, ASSET AND LIABILITY March 26, 2022 December 25, 2021 $ Change % Change Contract assets—current $ 2,552,201 $ 2,299,392 $ 252,809 11 % Contract liabilities and billings in excess of revenues earned (1,756,202 ) (4,063,031 ) 2,306,829 (57 )% Contract liabilities—noncurrent (10,371 ) (20,664 ) 10,293 (50 )% Net contract assets (liabilities) $ 785,628 $ (1,784,303 ) $ 2,569,931 (144 )%
SCHEDULE OF SATISFACTION OF PERFORMANCE OBLIGATIONS	The Company’s revenue recognition related to performance obligations that were satisfied at a point in time and over time were as follows: SCHEDULE OF SATISFACTION OF PERFORMANCE OBLIGATIONS Three months ended Three months ended March 26, 2022 March 27, 2021 Point in time 20 % 32 % Over time 80 % 68 %

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 26, 2022
Leases
SCHEDULE OF LEASE EXPENSE	The components of lease expense were as follows: SCHEDULE OF LEASE EXPENSE Three months ended Three months ended March 26, 2022 March 27, 2021 Operating lease cost $ 249,503 $ 290,884
SCHEDULE OF FUTURE LEASE PAYMENT UNDER NON-CANCELLABLE LEASE	At March 26, 2022, the Company’s future lease payments under non-cancellable leases were as follows: SCHEDULE OF FUTURE LEASE PAYMENT UNDER NON-CANCELLABLE LEASE 2022 (excluding the three months ended March 26, 2022) $ 645,519 2023 867,756 2024 769,923 2025 604,000 2026 604,000 Thereafter 805,333 Total future lease payments 4,296,531 Less imputed interest (691,239 ) Total $ 3,605,292
SCHEDULE OF OPERATING LEASE PAYMENTS RECOGNIZED IN CONSOLIDATED BALANCE SHEETS	The Company’s lease liabilities recognized in the Company’s condensed consolidated balance sheet at March 26, 2022 were as follows: SCHEDULE OF OPERATING LEASE PAYMENTS RECOGNIZED IN CONSOLIDATED BALANCE SHEETS March 26, 2022 Operating lease liabilities–current $ 658,298 Operating lease liabilities–noncurrent 2,946,994 Total lease liabilities $ 3,605,292
SCHEDULE OF SUPPLEMENTAL INFORMATION RELATED TO LEASES	Supplemental cash flow information related to leases was as follows: SCHEDULE OF SUPPLEMENTAL INFORMATION RELATED TO LEASES Three months ended March 26, 2022 Cash paid for amounts included in the measurement of operating lease liabilities $ 248,754 Other information related to leases was as follows: March 26, 2022 Weighted Average Discount Rate–Operating Leases 5.92 % Weighted Average Remaining Lease Term–Operating Leases (in years) 5.53

SEGMENTS AND DISAGGREGATION O_2

SEGMENTS AND DISAGGREGATION OF REVENUE (Tables)	3 Months Ended
	Mar. 26, 2022
Segment Reporting [Abstract]
SCHEDULE OF LONG-LIVED ASSETS BY GEOGRAPHIC AREAS	Total long-lived assets by country at March 26, 2022 and December 25, 2021 were: SCHEDULE OF LONG-LIVED ASSETS BY GEOGRAPHIC AREAS Total Long-lived Assets (in thousands) March 26, 2022 December 25, 2021 U.S. $ 5,287 $ 5,381 United Kingdom 226 264 Japan 57 72 Total $ 5,570 $ 5,717 Total Long-lived Assets $ 5,570 $ 5,717
SCHEDULE OF SEGMENT INFORMATION BY REVENUE TYPE	During the three months ended March 26, 2022 and March 27, 2021, the Company derived its sales from the following geographies: SCHEDULE OF SEGMENT INFORMATION BY REVENUE TYPE March 26, 2022 March 27, 2021 (In thousands, except percentages) Revenue % of Total Revenue % of Total United States $ 9,297 80 % $ 8,180 70 % Asia-Pacific 2,144 19 3,275 28 Europe 137 1 221 2 Total Revenues $ 11,578 100 % $ 11,676 100 %
SCHEDULE OF SEGMENT REPORTING INFORMATION, BY SEGMENT	During the three months ended March 26, 2022 and March 27, 2021, the Company derived its sales from the following display applications: SCHEDULE OF SEGMENT REPORTING INFORMATION, BY SEGMENT (In thousands) March 26, 2022 March 27, 2021 Defense $ 4,757 $ 4,993 Industrial 1,530 2,041 Consumer 220 534 R&D 4,908 3,561 License and royalties 163 547 Total Revenues $ 11,578 $ 11,676

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
	Mar. 26, 2022
Related Party Transactions [Abstract]
SCHEDULE OF TRANSACTIONS WITH RELATED PARTIES	During the three-month periods ended March 26, 2022 and March 27, 2021, the Company had the following transactions with related parties: SCHEDULE OF TRANSACTIONS WITH RELATED PARTIES Three months ended Three months ended March 26, 2022 March 27, 2021 Sales Purchases Sales Purchases RealWear, Inc. $ 624,216 $ — $ 1,323,885 $ — At March 26, 2022 and December 25, 2021, the Company had the following receivables and contract assets with related parties: March 26, 2022 December 25, 2021 Receivables Contract assets Receivables Contract assets RealWear, Inc. $ 628,923 $ — $ 306,307 $ —

SCHEDULE OF AVAILABLE-FOR-SALE

SCHEDULE OF AVAILABLE-FOR-SALE MARKETABLE DEBT SECURITIES (Details) - USD ($)	Mar. 26, 2022	Dec. 25, 2021
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Amortized Cost	$ 4,500,030	$ 2,500,128
Unrealized Gains	(48,942)	(7,407)
Unrealized Gains	48,942	7,407
Fair Value	4,451,088	2,507,535
US Government and Agency Backed Securities [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Amortized Cost	2,000,006	1,000,128
Unrealized Gains	(49,326)	(522)
Unrealized Gains	49,326	522
Fair Value	1,950,680	1,000,650
Corporate Debt and Certificates of Deposit [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Amortized Cost	2,500,024	1,500,000
Unrealized Gains	(384)	(6,885)
Unrealized Gains	384	6,885
Fair Value	$ 2,500,408	$ 1,506,885

SCHEDULE OF MARKETABLE DEBT SEC

SCHEDULE OF MARKETABLE DEBT SECURITIES (Details) - USD ($)	Mar. 26, 2022	Dec. 25, 2021
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Less than One year	$ 1,998,263
One to Five Years	2,452,825
Total	4,451,088	$ 2,507,535
US Government and Agency Backed Securities [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Less than One year
One to Five Years	1,950,680
Total	1,950,680	$ 1,000,650
Corporate Debt [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Less than One year	1,998,263
One to Five Years	502,145
Total	$ 2,500,408

SCHEDULE OF FAIR VALUE MEASUREM

SCHEDULE OF FAIR VALUE MEASUREMENTS OF FINANCIAL ASSETS (Details) - USD ($)	Mar. 26, 2022	Dec. 25, 2021
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value	$ 35,872,208	$ 34,207,488
Fair Value, Inputs, Level 1 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value	23,110,704	27,084,104
Fair Value, Inputs, Level 2 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value	3,452,425	2,507,535
Fair Value, Inputs, Level 3 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value	9,309,079	4,615,849
Cash and Cash Equivalents [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value	21,867,492	26,787,931
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value	21,867,492	26,787,931
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value
US Government and Agency Backed Securities [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value	1,950,680	1,000,650
US Government and Agency Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value
US Government and Agency Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value	1,950,680	1,000,650
US Government and Agency Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value
Corporate Debt [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value	1,501,745	1,506,885
Corporate Debt [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value
Corporate Debt [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value	1,501,745	1,506,885
Corporate Debt [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value
Certificates of Deposit [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value	998,663
Certificates of Deposit [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value	998,663
Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value
Certificates of Deposit [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value
Equity Investments [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value	9,553,628	4,912,022
Equity Investments [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value	244,549	296,173
Equity Investments [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value
Equity Investments [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value	$ 9,309,079	$ 4,615,849

SCHEDULE OF FAIR VALUE, LIABILI

SCHEDULE OF FAIR VALUE, LIABILITIES MEASURED ON RECURRING BASIS (Details) - Equity Investments [Member]	3 Months Ended
	Mar. 26, 2022USD ($)
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instrument fair value, beginning	$ 4,912,022
Net unrealized losses	4,641,606
Purchases, issuances and settlements
Transfers in and or out of Level 3
Financial instrument fair value, ending	$ 9,553,628

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details Narrative) - USD ($) $ in Millions	3 Months Ended
	Mar. 26, 2022	Dec. 28, 2019
Fair Value Disclosures [Abstract]
[custom:ImpairmentOfEquitySecurity]		$ 5.2
Gain on sale of equity investments	$ 4.7
Equity Method Investment, Ownership Percentage	2.30%
Unrealized loss on equity interest	$ 0.1

SCHEDULE OF INVENTORY (Details)

SCHEDULE OF INVENTORY (Details) - USD ($)	Mar. 26, 2022	Dec. 25, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 5,629,085	$ 5,044,334
Work-in-process	984,241	1,032,519
Finished goods	519,291	504,286
Total	$ 7,132,617	$ 6,581,139

SCHEDULE OF WEIGHTED-AVERAGE CO

SCHEDULE OF WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING DILUTED (Details) - shares	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Net loss per share
Non-vested restricted common stock	1,953,171	2,490,717

SCHEDULE OF NON-VESTED RESTRICT

SCHEDULE OF NON-VESTED RESTRICTED STOCK ACTIVITY (Details)	3 Months Ended
	Mar. 26, 2022$ / sharesshares
Equity [Abstract]
Number of Shares, Restricted stock Outstanding Beginning | shares	2,077,592
Weighted Average Grant Date Fair Value, Restricted stock Outstanding Beginning | $ / shares	$ 2.90
Number of Shares, Restricted stock Granted | shares	37,100
Weighted Average Grant Date Fair Value, Restricted stock Granted | $ / shares	$ 2.36
Number of Shares, Restricted stock Forfeited | shares	(7,100)
Weighted Average Grant Date Fair Value, Restricted stock Forfeited | $ / shares	$ 4.40
Number of Shares, Restricted stock Vested | shares	(154,421)
Weighted Average Grant Date Fair Value, Restricted stock Vested | $ / shares	$ 2.73
Number of Shares, Restricted stock Outstanding Ending | shares	1,953,171
Weighted Average Grant Date Fair Value, Restricted stock Outstanding Ending | $ / shares	$ 2.90

SCHEDULE OF STOCK-BASED COMPENS

SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE (Details) - USD ($)	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Total	$ 656,073	$ 2,610,166
Cost of Product Revenues [Member]
Total	66,668	133,784
Research and Development [Member]
Total	147,379	94,053
Selling, General and Administrative [Member]
Total	$ 442,026	$ 2,382,329

STOCKHOLDERS_ EQUITY AND STOC_3

STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION (Details Narrative) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	Mar. 05, 2021	Mar. 26, 2022	Mar. 27, 2021
Subsidiary, Sale of Stock [Line Items]
Share-based payment arrangement, nonvested award, cost not yet recognized, amount		$ 3.7
Unrecognized compensation expense period for recognition		3 years
At The Market Offering [Member]
Subsidiary, Sale of Stock [Line Items]
Sale of Stock, Number of Shares Issued in Transaction			2.4
Gross proceeds from registered sale equity securities			$ 16
Shares Issued, Price Per Share			$ 6.66
Underwriting discounts and offering expenses from sale of equity			$ 0.5
At The Market Offering [Member] | Maximum [Member] | Common Stock [Member] | Stifel [Member]
Subsidiary, Sale of Stock [Line Items]
Sale of Stock, Consideration Received Per Transaction	$ 50

SCHEDULE OF ACCRUED WARRANTY (D

SCHEDULE OF ACCRUED WARRANTY (Details)	3 Months Ended
	Mar. 26, 2022USD ($)
Guarantees and Product Warranties [Abstract]
Balance, December 25, 2021	$ 517,000
Additions	725,000
Claims	(272,000)
Balance, March 26, 2022	$ 970,000

ACCRUED WARRANTY (Details Narra

ACCRUED WARRANTY (Details Narrative) $ in Millions	3 Months Ended
	Mar. 26, 2022USD ($)
Revenue Benchmark [Member]
Extended product warranty description	Deferred revenue represents the purchase of extended warranties by the Company’s customers. The Company recognizes revenue from an extended warranty on the straight-line method over the life of the extended warranty, which is typically 12 to 15 months
Standard Product Warranty Description	standard 12 to 18-month warranty
Warrant [Member]
Extended product warranty description	The Company typically warrants its products against defect for 12 to 18 months, however, for certain products a customer may purchase an extended warranty
Deferred Revenue	$ 0.1

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($) $ in Millions	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Income Tax Disclosure [Abstract]
Current Income Tax Expense (Benefit)	$ 0.1	$ 0.1
Operating Loss Carryforwards	$ 160.3
Net operating loss expiry period	expiring 2022 through 2037
Operating loss carryforwards unlimited	$ 76

SCHEDULE OF CONTRACT WITH CUSTO

SCHEDULE OF CONTRACT WITH CUSTOMER, ASSET AND LIABILITY (Details) - USD ($)	3 Months Ended
	Mar. 26, 2022	Dec. 25, 2021
Contract Assets And Liabilities
Contract assets-current	$ 2,552,201	$ 2,299,392
Change in contract assets-current	$ 252,809
Percentage of change in contract assets-current	11.00%
Contract liabilities and billings in excess of revenue earned	$ (1,756,202)	(4,063,031)
Change Contract liabilities and billings in excess of revenue earned	$ 2,306,829
Percentage Contract liabilities and billings in excess of revenue earned	(57.00%)
Contract liabilities-noncurrent	$ (10,371)	(20,664)
Change in contract liabilities-noncurrent	$ 10,293
Percentage of change in contract liabilities-noncurrent	(50.00%)
Net contract (liabilities) assets	$ 785,628	$ (1,784,303)
Change in Net contract (liabilities) assets	$ 2,569,931
Percentage of change in Net contract (liabilities) assets	(144.00%)

SCHEDULE OF SATISFACTION OF PER

SCHEDULE OF SATISFACTION OF PERFORMANCE OBLIGATIONS (Details)	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue percentage	20.00%	32.00%
Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue percentage	80.00%	68.00%

CONTRACT ASSETS AND LIABILITI_3

CONTRACT ASSETS AND LIABILITIES (Details Narrative) - USD ($)	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Contract Assets And Liabilities
Change in Net contract (liabilities) assets	$ 2,569,931
Contract with customer, liability, revenue recognized	2,900,000
Contract with customer, liability, revenue recognized		$ 1,200,000
Revenue, remaining performance obligation, amount	$ 29,300,000

SCHEDULE OF LEASE EXPENSE (Deta

SCHEDULE OF LEASE EXPENSE (Details) - USD ($)	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Leases
Operating lease cost	$ 249,503	$ 290,884

SCHEDULE OF FUTURE LEASE PAYMEN

SCHEDULE OF FUTURE LEASE PAYMENT UNDER NON-CANCELLABLE LEASE (Details)	Mar. 26, 2022USD ($)
Leases
2022 (excluding the three months ended March 26, 2022)	$ 645,519
2023	867,756
2024	769,923
2025	604,000
2026	604,000
Thereafter	805,333
Total future lease payments	4,296,531
Less imputed interest	(691,239)
Total	$ 3,605,292

SCHEDULE OF OPERATING LEASE PAY

SCHEDULE OF OPERATING LEASE PAYMENTS RECOGNIZED IN CONSOLIDATED BALANCE SHEETS (Details) - USD ($)	Mar. 26, 2022	Dec. 25, 2021
Leases
Operating lease liabilities–current	$ 658,298	$ 701,204
Operating lease liabilities–noncurrent	2,946,994	$ 3,108,236
Total	$ 3,605,292

SCHEDULE OF SUPPLEMENTAL INFORM

SCHEDULE OF SUPPLEMENTAL INFORMATION RELATED TO LEASES (Details)	3 Months Ended
	Mar. 26, 2022USD ($)
Leases
Cash paid for amounts included in the measurement of operating lease liabilities	$ 248,754
Weighted Average Discount Rate-Operating Leases	5.92%
Weighted Average Remaining Lease Term-Operating Leases (in years)	5 years 6 months 10 days

SCHEDULE OF LONG-LIVED ASSETS B

SCHEDULE OF LONG-LIVED ASSETS BY GEOGRAPHIC AREAS (Details) - USD ($) $ in Thousands	Mar. 26, 2022	Dec. 25, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Long-lived Assets	$ 5,570	$ 5,717
UNITED STATES
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Long-lived Assets	5,287	5,381
UNITED KINGDOM
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Long-lived Assets	226	264
JAPAN
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Long-lived Assets	$ 57	$ 72

SCHEDULE OF SEGMENT INFORMATION

SCHEDULE OF SEGMENT INFORMATION BY REVENUE TYPE (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	$ 11,578	$ 11,676
Percentage of total revenue	100.00%	100.00%
UNITED STATES
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	$ 9,297	$ 8,180
Percentage of total revenue	80.00%	70.00%
Asia Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	$ 2,144	$ 3,275
Percentage of total revenue	19.00%	28.00%
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	$ 137	$ 221
Percentage of total revenue	1.00%	2.00%

SCHEDULE OF SEGMENT REPORTING I

SCHEDULE OF SEGMENT REPORTING INFORMATION, BY SEGMENT (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Revenue from External Customer [Line Items]
Total Revenues	$ 11,578	$ 11,676
Defense [Member]
Revenue from External Customer [Line Items]
Total Revenues	4,757	4,993
Industrial [Member]
Revenue from External Customer [Line Items]
Total Revenues	1,530	2,041
Consumer [Member]
Revenue from External Customer [Line Items]
Total Revenues	220	534
Research and Development [Member]
Revenue from External Customer [Line Items]
Total Revenues	4,908	3,561
License And Royalties [Member]
Revenue from External Customer [Line Items]
Total Revenues	$ 163	$ 547

SCHEDULE OF TRANSACTIONS WITH R

SCHEDULE OF TRANSACTIONS WITH RELATED PARTIES (Details) - RealWear, Inc. [Member] - USD ($)	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021	Dec. 25, 2021
Related Party Transaction [Line Items]
Sales	$ 624,216	$ 1,323,885
Purchases
Receivables	628,923		$ 306,307
Contract assets