Kopin (KOPN) 10-Q 11 May 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Apr. 01, 2023	May 05, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Apr. 01, 2023
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-30
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		109,901,024

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Apr. 01, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 8,583,146	$ 8,258,878
Marketable debt securities, at fair value	21,027,050	4,388,778
Accounts receivable, net of allowance of $800,000 in 2023 and $303,000 in 2022	5,612,935	6,537,891
Contract assets and unbilled receivables	3,043,076	4,068,364
Inventory	6,817,754	6,426,400
Prepaid taxes	127,280	105,495
Prepaid expenses and other current assets	1,584,669	1,074,867
Total current assets	46,795,910	30,860,673
Property, plant and equipment, net	1,826,093	1,831,641
Operating lease right-of-use assets	3,005,772	3,168,520
Other assets	169,132	170,132
Equity investments	7,727,789	7,721,206
Total assets	59,524,696	43,752,172
Current liabilities:
Accounts payable	3,836,276	5,438,980
Accrued payroll and expenses	1,778,133	2,879,139
Accrued warranty	2,166,340	1,966,000
Contract liabilities and billings in excess of revenues earned	718,544	930,500
Operating lease liabilities	790,567	786,928
Accrued post-retirement benefits	790,000	790,000
Other accrued liabilities	1,118,969	1,182,346
Customer deposits	87,283
Deferred tax liabilities	466,246	482,739
Total current liabilities	11,752,358	14,456,632
Noncurrent contract liabilities and asset retirement obligations	252,971	248,284
Operating lease liabilities, net of current portion	2,378,248	2,576,883
Accrued post-retirement benefits, net of current portion	882,500	1,110,000
Other long-term obligations, net of current portion	1,361,142	1,369,758
Total liabilities	16,627,219	19,761,557
Commitments and contingencies (Note 13)
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 111,502,604 shares in 2023 and 94,920,060 shares in 2022; outstanding 109,901,024 in 2023 and 92,883,524 in 2022, respectively	1,099,715	929,540
Additional paid-in capital	381,753,964	360,567,631
Treasury stock (70,635 shares in 2023 and 2022, at cost)	(103,127)	(103,127)
Accumulated other comprehensive income	1,182,295	1,176,068
Accumulated deficit	(341,035,370)	(338,406,815)
Total Kopin Corporation stockholders’ equity	42,897,477	24,163,297
Noncontrolling interest		(172,682)
Total Kopin Corporation stockholders’ equity	42,897,477	23,990,615
Total liabilities and stockholders’ equity	$ 59,524,696	$ 43,752,172

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Apr. 01, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Accounts receivable, allowance	$ 800,000	$ 303,000
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	111,502,604	94,920,060
Common stock, shares outstanding	109,901,024	92,883,524
Treasury stock, shares	70,635	70,635

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Apr. 01, 2023	Mar. 26, 2022
Revenues:
Total revenues	$ 10,758,191	$ 11,578,422
Expenses:
Cost of product revenues	6,624,101	7,782,879
Research and development	2,312,217	5,408,613
Selling, general and administration	4,648,130	4,464,548
Total expenses	13,584,448	17,656,040
Loss from operations	(2,826,257)	(6,077,618)
Other income:
Interest income	101,765	6,980
Other income (expense), net	37,030	(1,141)
Gain on investments		4,700,000
Foreign currency transaction gains	97,907	35,115
Total other income	236,702	4,740,954
Loss before provision for income taxes and net loss attributable to noncontrolling interest	(2,589,555)	(1,336,664)
Tax provision	(39,000)	(36,000)
Net loss	(2,628,555)	(1,372,664)
Net loss attributable to the noncontrolling interest		23
Net loss attributable to Kopin Corporation	$ (2,628,555)	$ (1,372,641)
Net loss per share
Basic and diluted	$ (0.03)	$ (0.02)
Weighted average number of common shares outstanding
Basic and diluted	105,036,382	90,121,226
Net Product Revenues [Member]
Revenues:
Total revenues	$ 7,654,716	$ 6,507,528
Research And Development Revenues [Member]
Revenues:
Total revenues	2,896,451	4,908,033
Other Revenues [Member]
Revenues:
Total revenues	$ 207,024	$ 162,861

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Apr. 01, 2023	Mar. 26, 2022
Income Statement [Abstract]
Net loss	$ (2,628,555)	$ (1,372,664)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	9,994	(5,932)
Unrealized holding loss on marketable securities	(3,767)	(107,451)
Reclassification of holding losses in net loss		(523)
Other comprehensive income (loss), net of tax	6,227	(113,906)
Comprehensive loss	(2,622,328)	(1,486,570)
Comprehensive income attributable to the noncontrolling interest		23
Comprehensive loss attributable to Kopin Corporation	$ (2,622,328)	$ (1,486,547)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock, Common [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Parent [Member]	Noncontrolling Interest [Member]	Total
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
Beginning balance, shares at Dec. 25, 2021	90,069,169
Vesting of restricted stock	$ 1,544	(1,544)
Vesting of restricted stock, shares	154,421
Stock-based compensation expense		656,073				656,073		656,073
Other comprehensive income loss				(113,906)		(113,906)		(113,906)
Net loss					(1,372,641)	(1,372,641)	(23)	(1,372,664)
Restricted stock for tax withholding obligations			(95,613)			(95,613)		(95,613)
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
Ending balance, shares at Mar. 26, 2022	90,223,590
Beginning balance, value at Dec. 31, 2022	$ 929,540	360,567,631	(103,127)	1,176,068	(338,406,815)	24,163,297	(172,682)	23,990,615
Beginning balance, shares at Dec. 31, 2022	92,954,159
Vesting of restricted stock	$ 175	(175)
Vesting of restricted stock, shares	17,500
Stock-based compensation expense		194,190				194,190		194,190
Other comprehensive income loss				6,227		6,227		6,227
Issuance of common stock and pre-funded warrants, net of costs	$ 170,000	21,165,000				21,335,000		21,335,000
Issuance of common stock and pre-funded warrants, net of costs, shares	17,000,000
Acquisition of noncontrolling interest		(172,682)				(172,682)	172,682
Net loss					(2,628,555)	(2,628,555)		(2,628,555)
Ending balance, value at Apr. 01, 2023	$ 1,099,715	$ 381,753,964	$ (103,127)	$ 1,182,295	$ (341,035,370)	$ 42,897,477		$ 42,897,477
Ending balance, shares at Apr. 01, 2023	109,971,659

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Apr. 01, 2023	Mar. 26, 2022
Cash flows from operating activities:
Net loss	$ (2,628,555)	$ (1,372,664)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	224,574	267,590
Accretion of premium or discount on marketable debt securities		128
Stock-based compensation	194,190	656,073
Loss on sale of property and plant		202,671
Gain on investment transactions		(4,700,000)
Income taxes	39,105	35,836
Foreign currency gains	(118,697)	(16,351)
Change in allowance for credit losses	495,000	(26,281)
Write-off of excess inventory	292,405	588,175
Changes in other non-cash items	200,000	453,262
Changes in assets and liabilities:
Accounts receivable	(420,919)	5,777,308
Contract assets and unbilled receivables	934,759	(252,809)
Inventory	(665,589)	(1,156,461)
Prepaid expenses, other current assets and other assets	(525,705)	(314,361)
Accounts payable and accrued expenses	(1,983,304)	(107,657)
Contract liabilities and billings in excess of revenue earned	(211,815)	(2,317,122)
Net cash used in operating activities	(4,174,551)	(2,282,663)
Cash flows from investing activities:
Capital expenditures	(216,618)	(524,368)
Purchases of marketable debt securities	(17,624,779)	(3,000,030)
Proceeds from sale of marketable debt securities	1,000,000	1,000,000
Other assets	1,000
Net cash used in investing activities	(16,840,397)	(2,524,398)
Cash flows from financing activities:
Issuance of common stock and pre-funded warrants, net of costs	21,335,000
Settlements of restricted stock for tax withholding obligations		(95,613)
Net cash provided by (used in) financing activities	21,335,000	(95,613)
Effect of exchange rate changes on cash	4,216	(17,765)
Net increase (decrease) in cash and cash equivalents	324,268	(4,920,439)
Cash and cash equivalents:
Beginning of period	8,258,878	26,787,931
End of period	$ 8,583,146	$ 21,867,492

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Apr. 01, 2023
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 April 1, 2023 and for the three month periods ended April 1, 2023 and March 26, 2022 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 31, 2022. 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 consolidated financial statements for the three months ended April 1, 2023 include the accounts of Kopin Corporation and its wholly owned subsidiaries. The consolidated financial statements for the three months ended March 26, 2022 include the accounts of Kopin Corporation, its wholly owned subsidiaries, and a majority owned 80 20 20 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. On January 5, 2023, the Company entered into a Technology License Agreement and an Asset Purchase Agreement (the “LST Agreements”) with Lightning Silicon Technology, Inc. (“LST”). Pursuant to the LST Agreements, the Company issued a license to LST for certain technology associated with our Organic Light Emitting Technology, transferred in-process development contracts with two customers and accounts receivables that the Company had previously determined were not collectible. The technology license agreement provides for Kopin to transfer certain patents to LST if LST achieves certain milestones, however upon transfer Kopin will receive a license to the technology. To the extent LST makes improvements to the technology licensed from Kopin, Kopin will receive a license for these improvements for certain markets. Kopin is not obligated to provide any additional funding support to LST. As consideration for the transaction, the Company received 18,000,000 20.0% On January 27, 2023, the Company sold 17,000,000 6,000,000 0.99 21.4 ’ s actual results are less than projected or the Company needs to raise capital for additional liquidity, the Company may be required to do additional equity financings, reduce expenses, or enter into a strategic transaction. However, management can make no assurance that the Company will be able to raise additional capital, reduce expenses sufficiently, or enter into a strategic transaction on terms acceptable to the Company, or at all.

ACCOUNTING STANDARDS

ACCOUNTING STANDARDS	3 Months Ended
	Apr. 01, 2023
Accounting Policies [Abstract]
ACCOUNTING STANDARDS	2. ACCOUNTING STANDARDS ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments became effective for smaller reporting companies for fiscal years beginning after December 15, 2022. The amendments in ASU 2016-13 are intended to provide more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The Company adopted this standard on January 1, 2023 and there was not a material impact.

CASH AND CASH EQUIVALENTS AND M

CASH AND CASH EQUIVALENTS AND MARKETABLE DEBT SECURITIES	3 Months Ended
	Apr. 01, 2023
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 premiums 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 April 1, 2023 and March 26, 2022. Investments in available-for-sale marketable debt securities were as follows at April 1, 2023 and December 31, 2022: SCHEDULE OF AVAILABLE-FOR-SALE MARKETABLE DEBT SECURITIES Amortized Cost Unrealized Losses Fair Value 2023 2022 2023 2022 2023 2022 U.S. government and agency backed securities $ 13,374,623 $ 2,500,006 $ (43,938 ) $ (102,276 ) $ 13,330,685 $ 2,397,730 Corporate debt and certificates of deposit 7,750,174 2,000,012 (53,809 ) (8,964 ) 7,696,365 1,991,048 Total $ 21,124,797 $ 4,500,018 $ (97,747 ) $ (111,240 ) $ 21,027,050 $ 4,388,778 The contractual maturity of the Company’s marketable debt securities was as follows at April 1, 2023: SCHEDULE OF MARKETABLE DEBT SECURITIES Less than One to Total U.S. government and agency backed securities $ 11,345,770 $ 1,984,915 $ 13,330,685 Corporate debt 2,492,328 5,204,037 7,696,365 Total $ 13,838,098 $ 7,188,952 $ 21,027,050

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Apr. 01, 2023
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 Total Level 1 Level 2 Level 3 Fair Value Measurement at April 1, 2023 Using: Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 8,583,146 $ 8,583,146 $ — $ — U.S. government and agency-backed securities 13,330,685 8,907,220 4,423,465 — Corporate debt 499,860 — 499,860 — Certificates of deposit 7,196,505 7,196,505 — — Equity investments 7,727,789 195,755 — 7,532,034 Financial instruments, owned, at fair value $ 37,337,985 $ 24,882,626 $ 4,923,325 $ 7,532,034 Total Level 1 Level 2 Level 3 Fair Value Measurement at Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 8,258,878 $ 8,258,878 $ — $ — U.S. government and agency- backed securities 2,397,730 — 2,397,730 — Corporate debt 1,500,445 — 1,500,445 — Certificates of deposit 490,603 490,603 — — Equity investments 7,721,206 213,016 — 7,508,190 Financial instruments, owned, at fair value $ 20,368,862 $ 8,962,497 $ 3,898,175 $ 7,508,190 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 31, 2022 Net unrealized gains Purchases, issuances and settlements April 1, 2023 Equity Investments $ 7,508,190 $ 23,844 $ — $ 7,532,034 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. 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 interest rate, 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 zero 4.7 2.3 During the three months ended April 1, 2023, the Company recorded a less than $ 0.1

INVENTORY

INVENTORY	3 Months Ended
	Apr. 01, 2023
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 April 1, 2023 and December 31, 2022: SCHEDULE OF INVENTORY April 1, 2023 December 31, 2022 Raw materials $ 4,442,045 $ 4,285,757 Work-in-process 1,971,239 1,735,454 Finished goods 404,470 405,189 Total $ 6,817,754 $ 6,426,400

NET LOSS PER SHARE

NET LOSS PER SHARE	3 Months Ended
	Apr. 01, 2023
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 April 1, 2023 March 26, 2022 Non-vested restricted common stock 1,530,945 1,953,171

STOCKHOLDERS_ EQUITY AND STOCK-

STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION	3 Months Ended
	Apr. 01, 2023
Equity [Abstract]
STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION	7. STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION Registered sale of equity securities On January 27, 2023, the Company sold 17,000,000 6,000,000 0.99 22.9 1.5 0.01 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 April 1, 2023 was as follows: SCHEDULE OF NON-VESTED RESTRICTED STOCK ACTIVITY Shares Weighted Average Grant Fair Value Balance, December 31, 2022 1,965,901 $ 2.22 Granted 200,294 1.31 Forfeited (617,750 ) 3.20 Vested (17,500 ) 1.26 Balance, April 1, 2023 1,530,945 $ 1.72 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 April 1, 2023 and March 26, 2022 (no tax benefits were recognized): SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE Three Months Three Months April 1, 2023 March 26, 2022 Cost of product revenues $ 26,218 $ 66,668 Research and development 16,874 147,379 Selling, general and administrative 151,098 442,026 Total $ 194,190 $ 656,073 Unrecognized compensation expense for non-vested restricted common stock as of April 1, 2023 totaled $ 2.6 three years

ACCRUED WARRANTY

ACCRUED WARRANTY	3 Months Ended
	Apr. 01, 2023
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. A provision for estimated future costs and estimated returns for credit relating to such warranty is recorded in the period when product is shipped and revenue is recognized and is updated as additional information becomes available. The Company’s estimate of future costs to satisfy warranty obligations is based primarily on historical warranty expense experienced and a provision for potential future product failures. Changes in the accrued warranty for the three months ended April 1, 2023 were as follows: SCHEDULE OF ACCRUED WARRANTY Balance, December 31, 2022 $ 1,966,000 Additions 395,000 Claims (195,000 ) Balance, April 1, 2023 $ 2,166,000 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 standard 12 to 18-month warranty 0.1

INCOME TAXES

INCOME TAXES	3 Months Ended
	Apr. 01, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	9. INCOME TAXES The Company recorded a provision for income taxes of less than $ 0.1 135.5 expiring 2023 through 2038 89.3

CONTRACT ASSETS AND LIABILITIES

CONTRACT ASSETS AND LIABILITIES	3 Months Ended
	Apr. 01, 2023
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 April 1, 2023 December 31, 2022 $ Change % Change Contract assets and unbilled receivables —current $ 3,043,076 $ 4,068,364 $ (1,025,288 ) (25 )% Contract liabilities and billings in excess of revenues earned (718,544 ) (930,500 ) 211,956 (23 )% Contract liabilities—noncurrent (6,331 ) (6,190 ) (141 ) 2 % Net contract assets $ 2,318,201 $ 3,131,674 $ (813,473 ) (26 )% The $ 0.8 In the three months ended April 1, 2023, the Company recognized revenue of $ 0.5 2.9 The Company did not recognize impairment losses on our contract assets in the three months ended April 1, 2023 or March 26, 2022. 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 OBLIGATION Three months Three months April 1, 2023 March 26, 2022 Point in time 26 % 20 % Over time 74 % 80 % Performance obligation percentage % % 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 April 1, 2023, the aggregate amount of the transaction price allocated to remaining performance obligations was $ 17.5

LEASES

LEASES	3 Months Ended
	Apr. 01, 2023
Leases [Abstract]
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 April 1, 2023 and December 31, 2022, 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 Three months April 1, 2023 March 26, 2022 Operating lease cost $ 214,563 $ 249,503 At April 1, 2023, the Company’s future lease payments under non-cancellable leases were as follows: SCHEDULE OF FUTURE LEASE PAYMENT UNDER NON-CANCELLABLE LEASE 2023 (excluding the three months ended April 1, 2023) $ 729,950 2024 891,292 2025 638,256 2026 604,000 2027 604,000 Thereafter 201,333 Total future lease payments 3,668,831 Less imputed interest (500,016 ) Total $ 3,168,815 The Company’s lease liabilities recognized in the Company’s condensed consolidated balance sheet at April 1, 2023 were as follows: SCHEDULE OF OPERATING LEASE PAYMENTS RECOGNIZED IN CONSOLIDATED BALANCE SHEETS April 1, 2023 Operating lease liabilities–current $ 790,567 Operating lease liabilities–noncurrent 2,378,248 Total lease liabilities $ 3,168,815 Supplemental cash flow information related to leases was as follows: SCHEDULE OF SUPPLEMENTAL INFORMATION RELATED TO LEASES Three months April 1, 2023 Cash paid for amounts included in the measurement of operating lease liabilities $ 248,254 Other information related to leases was as follows: April 1, 2023 Weighted Average Discount Rate–Operating Leases 5.97 % Weighted Average Remaining Lease Term–Operating Leases (in years) 4.48

SEGMENTS AND DISAGGREGATION OF

SEGMENTS AND DISAGGREGATION OF REVENUE	3 Months Ended
	Apr. 01, 2023
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 April 1, 2023 and December 31, 2022 were: SCHEDULE OF LONG-LIVED ASSETS BY GEOGRAPHIC AREAS Total Long-lived Assets (in thousands) April 1, 2023 December 31, 2022 United States $ 4,470 $ 4,604 United Kingdom 362 396 Total $ 4,832 $ 5,000 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 April 1, 2023 and March 26, 2022, the Company derived its sales from the following geographies: SCHEDULE OF SEGMENT INFORMATION BY REVENUE TYPE April 1, 2023 March 26, 2022 (In thousands, except percentages) Revenue % of Total Revenue % of Total United States $ 8,977 84 % $ 9,297 80 % Asia-Pacific 1,409 13 % 2,144 19 % Europe 372 3 % 137 1 % Total Revenues $ 10,758 100 % $ 11,578 100 % During the three months ended April 1, 2023 and March 26, 2022, the Company derived its sales from the following display applications: SCHEDULE OF SEGMENT REPORTING INFORMATION, BY SEGMENT (In thousands) April 1, 2023 March 26, 2022 Defense $ 6,420 $ 4,757 Industrial 925 1,530 Consumer 310 220 R&D 2,896 4,908 License and royalties 207 163 Total Revenues $ 10,758 $ 11,578

LITIGATION

LITIGATION	3 Months Ended
	Apr. 01, 2023
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. On August 3, 2022, the Court granted the Company’s Motion for Partial Summary Judgment by dismissing counts 3, 6, 7, punitive damages under count 2, and count 8 as it relates to patent applications, and denying the motion as it relates to counts 1, 4, and 5, and the remainder of counts 2 and 8. The Court also ordered discovery reopened for certain limited purposes. A trial date was set by the Court for January 22 – February 5, 2024. 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 April 1, 2023. 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
	Apr. 01, 2023
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 April 1, 2023 and March 26, 2022, the Company had the following transactions with related parties: SCHEDULE OF TRANSACTIONS WITH RELATED PARTIES Three months ended Three months ended April 1, 2023 March 26, 2022 Sales Purchases Sales Purchases RealWear, Inc. $ 207,024 $ — $ 624,216 $ — HMDmd, Inc. 266,476 — — — Lightning Silicon Technology, Inc. — 39,255 — — $ 473,500 $ 39,255 $ 624,216 $ — At April 1, 2023 and December 31, 2022, the Company had the following receivables and payables with related parties: April 1, 2023 December 31, 2022 Receivables Payables Receivables Payables RealWear, Inc. $ 207,024 $ — $ 171,518 $ — HMDmd, Inc. 370,570 — 151,340 — Solos Technology 875 — 2,248 — Lightning Silicon Technology, Inc. 15,112 29,600 — — $ 593,581 $ 29,600 $ 325,106 $ —

CASH AND CASH EQUIVALENTS AND_2

CASH AND CASH EQUIVALENTS AND MARKETABLE DEBT SECURITIES (Tables)	3 Months Ended
	Apr. 01, 2023
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 April 1, 2023 and December 31, 2022: SCHEDULE OF AVAILABLE-FOR-SALE MARKETABLE DEBT SECURITIES Amortized Cost Unrealized Losses Fair Value 2023 2022 2023 2022 2023 2022 U.S. government and agency backed securities $ 13,374,623 $ 2,500,006 $ (43,938 ) $ (102,276 ) $ 13,330,685 $ 2,397,730 Corporate debt and certificates of deposit 7,750,174 2,000,012 (53,809 ) (8,964 ) 7,696,365 1,991,048 Total $ 21,124,797 $ 4,500,018 $ (97,747 ) $ (111,240 ) $ 21,027,050 $ 4,388,778
SCHEDULE OF MARKETABLE DEBT SECURITIES	The contractual maturity of the Company’s marketable debt securities was as follows at April 1, 2023: SCHEDULE OF MARKETABLE DEBT SECURITIES Less than One to Total U.S. government and agency backed securities $ 11,345,770 $ 1,984,915 $ 13,330,685 Corporate debt 2,492,328 5,204,037 7,696,365 Total $ 13,838,098 $ 7,188,952 $ 21,027,050

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Apr. 01, 2023
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 Total Level 1 Level 2 Level 3 Fair Value Measurement at April 1, 2023 Using: Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 8,583,146 $ 8,583,146 $ — $ — U.S. government and agency-backed securities 13,330,685 8,907,220 4,423,465 — Corporate debt 499,860 — 499,860 — Certificates of deposit 7,196,505 7,196,505 — — Equity investments 7,727,789 195,755 — 7,532,034 Financial instruments, owned, at fair value $ 37,337,985 $ 24,882,626 $ 4,923,325 $ 7,532,034 Total Level 1 Level 2 Level 3 Fair Value Measurement at Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 8,258,878 $ 8,258,878 $ — $ — U.S. government and agency- backed securities 2,397,730 — 2,397,730 — Corporate debt 1,500,445 — 1,500,445 — Certificates of deposit 490,603 490,603 — — Equity investments 7,721,206 213,016 — 7,508,190 Financial instruments, owned, at fair value $ 20,368,862 $ 8,962,497 $ 3,898,175 $ 7,508,190
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 31, 2022 Net unrealized gains Purchases, issuances and settlements April 1, 2023 Equity Investments $ 7,508,190 $ 23,844 $ — $ 7,532,034

INVENTORY (Tables)

INVENTORY (Tables)	3 Months Ended
	Apr. 01, 2023
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 April 1, 2023 and December 31, 2022: SCHEDULE OF INVENTORY April 1, 2023 December 31, 2022 Raw materials $ 4,442,045 $ 4,285,757 Work-in-process 1,971,239 1,735,454 Finished goods 404,470 405,189 Total $ 6,817,754 $ 6,426,400

NET LOSS PER SHARE (Tables)

NET LOSS PER SHARE (Tables)	3 Months Ended
	Apr. 01, 2023
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 April 1, 2023 March 26, 2022 Non-vested restricted common stock 1,530,945 1,953,171

STOCKHOLDERS_ EQUITY AND STOC_2

STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Apr. 01, 2023
Equity [Abstract]
SCHEDULE OF NON-VESTED RESTRICTED STOCK ACTIVITY	Restricted stock activity for the three month period ended April 1, 2023 was as follows: SCHEDULE OF NON-VESTED RESTRICTED STOCK ACTIVITY Shares Weighted Average Grant Fair Value Balance, December 31, 2022 1,965,901 $ 2.22 Granted 200,294 1.31 Forfeited (617,750 ) 3.20 Vested (17,500 ) 1.26 Balance, April 1, 2023 1,530,945 $ 1.72
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 April 1, 2023 and March 26, 2022 (no tax benefits were recognized): SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE Three Months Three Months April 1, 2023 March 26, 2022 Cost of product revenues $ 26,218 $ 66,668 Research and development 16,874 147,379 Selling, general and administrative 151,098 442,026 Total $ 194,190 $ 656,073

ACCRUED WARRANTY (Tables)

ACCRUED WARRANTY (Tables)	3 Months Ended
	Apr. 01, 2023
Guarantees and Product Warranties [Abstract]
SCHEDULE OF ACCRUED WARRANTY	SCHEDULE OF ACCRUED WARRANTY Balance, December 31, 2022 $ 1,966,000 Additions 395,000 Claims (195,000 ) Balance, April 1, 2023 $ 2,166,000

CONTRACT ASSETS AND LIABILITI_2

CONTRACT ASSETS AND LIABILITIES (Tables)	3 Months Ended
	Apr. 01, 2023
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 April 1, 2023 December 31, 2022 $ Change % Change Contract assets and unbilled receivables —current $ 3,043,076 $ 4,068,364 $ (1,025,288 ) (25 )% Contract liabilities and billings in excess of revenues earned (718,544 ) (930,500 ) 211,956 (23 )% Contract liabilities—noncurrent (6,331 ) (6,190 ) (141 ) 2 % Net contract assets $ 2,318,201 $ 3,131,674 $ (813,473 ) (26 )%
SCHEDULE OF SATISFACTION OF PERFORMANCE OBLIGATION	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 OBLIGATION Three months Three months April 1, 2023 March 26, 2022 Point in time 26 % 20 % Over time 74 % 80 % Performance obligation percentage % %

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Apr. 01, 2023
Leases [Abstract]
SCHEDULE OF LEASE EXPENSE	The components of lease expense were as follows: SCHEDULE OF LEASE EXPENSE Three months Three months April 1, 2023 March 26, 2022 Operating lease cost $ 214,563 $ 249,503
SCHEDULE OF FUTURE LEASE PAYMENT UNDER NON-CANCELLABLE LEASE	At April 1, 2023, the Company’s future lease payments under non-cancellable leases were as follows: SCHEDULE OF FUTURE LEASE PAYMENT UNDER NON-CANCELLABLE LEASE 2023 (excluding the three months ended April 1, 2023) $ 729,950 2024 891,292 2025 638,256 2026 604,000 2027 604,000 Thereafter 201,333 Total future lease payments 3,668,831 Less imputed interest (500,016 ) Total $ 3,168,815
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 April 1, 2023 were as follows: SCHEDULE OF OPERATING LEASE PAYMENTS RECOGNIZED IN CONSOLIDATED BALANCE SHEETS April 1, 2023 Operating lease liabilities–current $ 790,567 Operating lease liabilities–noncurrent 2,378,248 Total lease liabilities $ 3,168,815
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 April 1, 2023 Cash paid for amounts included in the measurement of operating lease liabilities $ 248,254 Other information related to leases was as follows: April 1, 2023 Weighted Average Discount Rate–Operating Leases 5.97 % Weighted Average Remaining Lease Term–Operating Leases (in years) 4.48

SEGMENTS AND DISAGGREGATION O_2

SEGMENTS AND DISAGGREGATION OF REVENUE (Tables)	3 Months Ended
	Apr. 01, 2023
Segment Reporting [Abstract]
SCHEDULE OF LONG-LIVED ASSETS BY GEOGRAPHIC AREAS	Total long-lived assets by country at April 1, 2023 and December 31, 2022 were: SCHEDULE OF LONG-LIVED ASSETS BY GEOGRAPHIC AREAS Total Long-lived Assets (in thousands) April 1, 2023 December 31, 2022 United States $ 4,470 $ 4,604 United Kingdom 362 396 Total $ 4,832 $ 5,000
SCHEDULE OF SEGMENT INFORMATION BY REVENUE TYPE	During the three months ended April 1, 2023 and March 26, 2022, the Company derived its sales from the following geographies: SCHEDULE OF SEGMENT INFORMATION BY REVENUE TYPE April 1, 2023 March 26, 2022 (In thousands, except percentages) Revenue % of Total Revenue % of Total United States $ 8,977 84 % $ 9,297 80 % Asia-Pacific 1,409 13 % 2,144 19 % Europe 372 3 % 137 1 % Total Revenues $ 10,758 100 % $ 11,578 100 %
SCHEDULE OF SEGMENT REPORTING INFORMATION, BY SEGMENT	During the three months ended April 1, 2023 and March 26, 2022, the Company derived its sales from the following display applications: SCHEDULE OF SEGMENT REPORTING INFORMATION, BY SEGMENT (In thousands) April 1, 2023 March 26, 2022 Defense $ 6,420 $ 4,757 Industrial 925 1,530 Consumer 310 220 R&D 2,896 4,908 License and royalties 207 163 Total Revenues $ 10,758 $ 11,578

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
	Apr. 01, 2023
Related Party Transactions [Abstract]
SCHEDULE OF TRANSACTIONS WITH RELATED PARTIES	During the three-month periods ended April 1, 2023 and March 26, 2022, the Company had the following transactions with related parties: SCHEDULE OF TRANSACTIONS WITH RELATED PARTIES Three months ended Three months ended April 1, 2023 March 26, 2022 Sales Purchases Sales Purchases RealWear, Inc. $ 207,024 $ — $ 624,216 $ — HMDmd, Inc. 266,476 — — — Lightning Silicon Technology, Inc. — 39,255 — — $ 473,500 $ 39,255 $ 624,216 $ — At April 1, 2023 and December 31, 2022, the Company had the following receivables and payables with related parties: April 1, 2023 December 31, 2022 Receivables Payables Receivables Payables RealWear, Inc. $ 207,024 $ — $ 171,518 $ — HMDmd, Inc. 370,570 — 151,340 — Solos Technology 875 — 2,248 — Lightning Silicon Technology, Inc. 15,112 29,600 — — $ 593,581 $ 29,600 $ 325,106 $ —

BASIS OF PRESENTATION (Details

BASIS OF PRESENTATION (Details Narrative) - USD ($) $ / shares in Units, $ in Millions	Jan. 27, 2023	Jan. 05, 2023	Apr. 01, 2023	Mar. 26, 2022
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of registered common stock sold	17,000,000
Prefunded Warrants [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Pre-funded warrants issued to purchase common stock	6,000,000
Offering price per share	$ 0.99
Proceeds from issuance of warrants	$ 21.4
LST Agreement [Member] | Lightning Silicon Technology Inc [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Issuance of shares		18,000,000
EMDT [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage				20%
Lightning Silicon Technology Inc [Member] | LST Agreement [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage		20%
EMDT [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Subsidary percentage			20%	80%

SCHEDULE OF AVAILABLE-FOR-SALE

SCHEDULE OF AVAILABLE-FOR-SALE MARKETABLE DEBT SECURITIES (Details) - USD ($)	Apr. 01, 2023	Dec. 31, 2022
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Amortized Cost	$ 21,124,797	$ 4,500,018
Unrealized Losses	(97,747)	(111,240)
Fair Value	21,027,050	4,388,778
U.S. Government and Agency Backed Securities [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Amortized Cost	13,374,623	2,500,006
Unrealized Losses	(43,938)	(102,276)
Fair Value	13,330,685	2,397,730
Corporate Debt and Certificates of Deposit [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Amortized Cost	7,750,174	2,000,012
Unrealized Losses	(53,809)	(8,964)
Fair Value	$ 7,696,365	$ 1,991,048

SCHEDULE OF MARKETABLE DEBT SEC

SCHEDULE OF MARKETABLE DEBT SECURITIES (Details) - USD ($)	Apr. 01, 2023	Dec. 31, 2022
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Less than One year	$ 13,838,098
One to Five Years	7,188,952
Total	21,027,050	$ 4,388,778
U.S. Government and Agency Backed Securities [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Less than One year	11,345,770
One to Five Years	1,984,915
Total	13,330,685	$ 2,397,730
Corporate Debt [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Less than One year	2,492,328
One to Five Years	5,204,037
Total	$ 7,696,365

SCHEDULE OF FAIR VALUE MEASUREM

SCHEDULE OF FAIR VALUE MEASUREMENTS OF FINANCIAL ASSETS (Details) - USD ($)	Apr. 01, 2023	Dec. 31, 2022
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value	$ 37,337,985	$ 20,368,862
Fair Value, Inputs, Level 1 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value	24,882,626	8,962,497
Fair Value, Inputs, Level 2 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value	4,923,325	3,898,175
Fair Value, Inputs, Level 3 [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value	7,532,034	7,508,190
Cash and Cash Equivalents [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value	8,583,146	8,258,878
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	8,583,146	8,258,878
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
U.S. Government and Agency Backed Securities [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instruments, owned, at fair value	13,330,685	2,397,730
U.S. 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	8,907,220
U.S. 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	4,423,465	2,397,730
U.S. 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	499,860	1,500,445
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	499,860	1,500,445
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	7,196,505	490,603
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	7,196,505	490,603
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	7,727,789	7,721,206
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	195,755	213,016
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	$ 7,532,034	$ 7,508,190

SCHEDULE OF FAIR VALUE, LIABILI

SCHEDULE OF FAIR VALUE, LIABILITIES MEASURED ON RECURRING BASIS (Details) - Equity Investments [Member]	3 Months Ended
	Apr. 01, 2023 USD ($)
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instrument fair value, beginning	$ 7,508,190
Net unrealized gains	23,844
Purchases, issuances and settlements
Financial instrument fair value, ending	$ 7,532,034

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details Narrative) - USD ($)	3 Months Ended
	Apr. 01, 2023	Mar. 26, 2022	Dec. 28, 2019
Impairment charge			$ 5,200,000
Investment			$ 0
Gain on investment		$ 4,700,000
Unrealized gain on equity interest	$ 100,000
Equity Investment [Member]
Equity investment owned percentage	2.30%

SCHEDULE OF INVENTORY (Details)

SCHEDULE OF INVENTORY (Details) - USD ($)	Apr. 01, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 4,442,045	$ 4,285,757
Work-in-process	1,971,239	1,735,454
Finished goods	404,470	405,189
Total	$ 6,817,754	$ 6,426,400

SCHEDULE OF WEIGHTED-AVERAGE CO

SCHEDULE OF WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING DILUTED (Details) - shares	3 Months Ended
	Apr. 01, 2023	Mar. 26, 2022
Net loss per share
Non-vested restricted common stock	1,530,945	1,953,171

SCHEDULE OF NON-VESTED RESTRICT

SCHEDULE OF NON-VESTED RESTRICTED STOCK ACTIVITY (Details)	3 Months Ended
	Apr. 01, 2023 $ / shares shares
Equity [Abstract]
Number of shares, restricted stock outstanding beginning | shares	1,965,901
Weighted average grant date fair value, restricted stock outstanding beginning | $ / shares	$ 2.22
Number of shares, restricted stock granted | shares	200,294
Weighted average grant date fair value, restricted stock granted | $ / shares	$ 1.31
Number of shares, restricted stock forfeited | shares	(617,750)
Weighted average grant date fair value, restricted stock forfeited | $ / shares	$ 3.20
Number of shares, restricted stock vested | shares	(17,500)
Weighted average grant date fair value, restricted stock vested | $ / shares	$ 1.26
Number of shares, restricted stock outstanding ending | shares	1,530,945
Weighted average grant date fair value, restricted stock outstanding ending | $ / shares	$ 1.72

SCHEDULE OF STOCK-BASED COMPENS

SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE (Details) - USD ($)	3 Months Ended
	Apr. 01, 2023	Mar. 26, 2022
Total	$ 194,190	$ 656,073
Cost of Sales [Member]
Total	26,218	66,668
Research and Development Expense [Member]
Total	16,874	147,379
Selling, General and Administrative Expenses [Member]
Total	$ 151,098	$ 442,026

STOCKHOLDERS_ EQUITY AND STOC_3

STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION (Details Narrative) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended
	Jan. 27, 2023	Apr. 01, 2023
Class of Warrant or Right [Line Items]
Number of registered common stock sold	17,000,000
Unrecognized compensation expense		$ 2.6
Weighted average period, unrecognized		3 years
Prefunded Warrants [Member]
Class of Warrant or Right [Line Items]
Pre-funded warrants issued to purchase common stock	6,000,000
Offering price per share	$ 0.99
Proceeds from issuance of warrants	$ 21.4
Underwriting discounts and offering expenses	$ 1.5
Exercise price of warrants	$ 0.01
Prefunded Warrants [Member] | Over-Allotment Option [Member]
Class of Warrant or Right [Line Items]
Proceeds from issuance of warrants	$ 22.9

SCHEDULE OF ACCRUED WARRANTY (D

SCHEDULE OF ACCRUED WARRANTY (Details)	3 Months Ended
	Apr. 01, 2023 USD ($)
Guarantees and Product Warranties [Abstract]
Balance, December 31, 2022	$ 1,966,000
Additions	395,000
Claims	(195,000)
Balance, April 1, 2023	$ 2,166,000

ACCRUED WARRANTY (Details Narra

ACCRUED WARRANTY (Details Narrative) $ in Millions	3 Months Ended
	Apr. 01, 2023 USD ($)
Warrant [Member]
Product Information [Line Items]
Deferred revenue	$ 0.1
Revenue Benchmark [Member]
Product Information [Line Items]
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

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($) $ in Millions	3 Months Ended
	Apr. 01, 2023	Mar. 26, 2022
Income Tax Disclosure [Abstract]
Current income tax expense (benefit)	$ 0.1	$ 0.1
Operating loss carryforwards	$ 135.5
Net operating loss expiry period	expiring 2023 through 2038
Operating loss carryforwards unlimited	$ 89.3

SCHEDULE OF CONTRACT WITH CUSTO

SCHEDULE OF CONTRACT WITH CUSTOMER, ASSET AND LIABILITY (Details) - USD ($)	3 Months Ended
	Apr. 01, 2023	Dec. 31, 2022
Contract Assets And Liabilities
Contract assets and unbilled receivables	$ 3,043,076	$ 4,068,364
Change in contract assets and unbilled receivables	$ (1,025,288)
Percentage of change in contract assets-current	(25.00%)
Contract liabilities and billings in excess of revenue earned	$ (718,544)	(930,500)
Change Contract liabilities and billings in excess of revenue earned	$ 211,956
Percentage Contract liabilities and billings in excess of revenue earned	(23.00%)
Contract liabilities-noncurrent	$ (6,331)	(6,190)
Change in contract liabilities-noncurrent	$ (141)
Percentage of change in contract liabilities-noncurrent	2%
Net contract assets	$ 2,318,201	$ 3,131,674
Change in Net contract assets	$ (813,473)
Percentage of change in Net contract assets	(26.00%)

SCHEDULE OF SATISFACTION OF PER

SCHEDULE OF SATISFACTION OF PERFORMANCE OBLIGATION (Details)	Apr. 01, 2023	Mar. 26, 2022
Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Performance obligation percentage	26%	20%
Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Performance obligation percentage	74%	80%

CONTRACT ASSETS AND LIABILITI_3

CONTRACT ASSETS AND LIABILITIES (Details Narrative) - USD ($)	3 Months Ended
	Apr. 01, 2023	Mar. 26, 2022
Contract Assets And Liabilities
Change in Net contract assets	$ 813,473
Contract with customer, liability, revenue recognized	500,000	$ 2,900,000
Revenue, remaining performance obligation, amount	$ 17,500,000

SCHEDULE OF LEASE EXPENSE (Deta

SCHEDULE OF LEASE EXPENSE (Details) - USD ($)	3 Months Ended
	Apr. 01, 2023	Mar. 26, 2022
Leases [Abstract]
Operating lease cost	$ 214,563	$ 249,503

SCHEDULE OF FUTURE LEASE PAYMEN

SCHEDULE OF FUTURE LEASE PAYMENT UNDER NON-CANCELLABLE LEASE (Details)	Apr. 01, 2023 USD ($)
Leases [Abstract]
2023 (excluding the three months ended April 1, 2023)	$ 729,950
2024	891,292
2025	638,256
2026	604,000
2027	604,000
Thereafter	201,333
Total future lease payments	3,668,831
Less imputed interest	(500,016)
Total	$ 3,168,815

SCHEDULE OF OPERATING LEASE PAY

SCHEDULE OF OPERATING LEASE PAYMENTS RECOGNIZED IN CONSOLIDATED BALANCE SHEETS (Details) - USD ($)	Apr. 01, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease liabilities–current	$ 790,567	$ 786,928
Operating lease liabilities–noncurrent	2,378,248	$ 2,576,883
Total	$ 3,168,815

SCHEDULE OF SUPPLEMENTAL INFORM

SCHEDULE OF SUPPLEMENTAL INFORMATION RELATED TO LEASES (Details)	3 Months Ended
	Apr. 01, 2023 USD ($)
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 248,254
Weighted Average Discount Rate - Operating Leases	5.97%
Weighted Average Remaining Lease Term-Operating Leases (in years)	4 years 5 months 23 days

SCHEDULE OF LONG-LIVED ASSETS B

SCHEDULE OF LONG-LIVED ASSETS BY GEOGRAPHIC AREAS (Details) - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	$ 4,832	$ 5,000
UNITED STATES
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	4,470	4,604
UNITED KINGDOM
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	$ 362	$ 396

SCHEDULE OF SEGMENT INFORMATION

SCHEDULE OF SEGMENT INFORMATION BY REVENUE TYPE (Details) - USD ($)	3 Months Ended
	Apr. 01, 2023	Mar. 26, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	$ 10,758,191	$ 11,578,422
Percentage of total revenue	100%	100%
UNITED STATES
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	$ 8,977,000	$ 9,297,000
Percentage of total revenue	84%	80%
Asia Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	$ 1,409,000	$ 2,144,000
Percentage of total revenue	13%	19%
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	$ 372,000	$ 137,000
Percentage of total revenue	3%	1%

SCHEDULE OF SEGMENT REPORTING I

SCHEDULE OF SEGMENT REPORTING INFORMATION, BY SEGMENT (Details) - USD ($)	3 Months Ended
	Apr. 01, 2023	Mar. 26, 2022
Revenue from External Customer [Line Items]
Total Revenues	$ 10,758,191	$ 11,578,422
Defense [Member]
Revenue from External Customer [Line Items]
Total Revenues	6,420,000	4,757,000
Industrial [Member]
Revenue from External Customer [Line Items]
Total Revenues	925,000	1,530,000
Consumer [Member]
Revenue from External Customer [Line Items]
Total Revenues	310,000	220,000
Research And Development [Member]
Revenue from External Customer [Line Items]
Total Revenues	2,896,000	4,908,000
License And Royalties [Member]
Revenue from External Customer [Line Items]
Total Revenues	$ 207,000	$ 163,000

SCHEDULE OF TRANSACTIONS WITH R

SCHEDULE OF TRANSACTIONS WITH RELATED PARTIES (Details) - USD ($)	3 Months Ended
	Apr. 01, 2023	Mar. 26, 2022	Dec. 31, 2022
Related Party Transaction [Line Items]
Revenue, Related and Nonrelated Party Status [Extensible Enumeration]	us-gaap:RelatedPartyMember	us-gaap:RelatedPartyMember
Sales	$ 473,500	$ 624,216
Purchase	$ 39,255
Accounts Receivable, after Allowance for Credit Loss, Related and Nonrelated Party Status [Extensible Enumeration]	us-gaap:RelatedPartyMember		us-gaap:RelatedPartyMember
Accounts Payable, Related and Nonrelated Party Status [Extensible Enumeration]	us-gaap:RelatedPartyMember		us-gaap:RelatedPartyMember
Receivables	$ 593,581		$ 325,106
Payables	29,600
RealWear, Inc. [Member]
Related Party Transaction [Line Items]
Sales	207,024	624,216
Purchase
Receivables	207,024		171,518
Payables
HMDMd Inc [Member]
Related Party Transaction [Line Items]
Sales	266,476
Purchase
Receivables	370,570		151,340
Payables
Lightning Silicon Techonology Inc [Member]
Related Party Transaction [Line Items]
Sales
Purchase	39,255
Receivables	15,112
Payables	29,600
Solos Technology [Member]
Related Party Transaction [Line Items]
Receivables	875		2,248
Payables