Document_and_Entity_Informatio
Document and Entity Information (USD $) | 9 Months Ended | |
Sep. 27, 2014 | Oct. 22, 2014 | |
Document And Entity Information | ' | ' |
Entity Registrant Name | 'CPS Technologies Corp/DE/ | ' |
Entity Central Index Key | '0000814676 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 27-Sep-14 | ' |
Amendment Flag | 'false | ' |
Current Fiscal Year End Date | '--12-27 | ' |
Is Entity a Well-known Seasoned Issuer? | 'No | ' |
Is Entity a Voluntary Filer? | 'No | ' |
Is Entity's Reporting Status Current? | 'Yes | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Public Float | ' | $20,000,000 |
Entity Common Stock, Shares Outstanding | ' | 13,142,161 |
Document Fiscal Period Focus | 'Q3 | ' |
Document Fiscal Year Focus | '2014 | ' |
Balance_Sheets_Unaudited
Balance Sheets (Unaudited) (USD $) | Sep. 27, 2014 | Dec. 28, 2013 |
Current assets: | ' | ' |
Cash and cash equivalents | $1,055,947 | $1,571,054 |
Accounts receivable-trade, net | 4,590,646 | 2,900,457 |
Inventories, net | 2,639,636 | 2,183,699 |
Prepaid expenses and other current assets | 190,519 | 175,726 |
Deferred taxes | 456,747 | 649,420 |
Total current assets | 8,933,495 | 7,480,356 |
Property and equipment: | ' | ' |
Production equipment | 7,806,184 | 7,728,408 |
Furniture and office equipment | 404,856 | 383,990 |
Leasehold improvements | 759,819 | 759,819 |
Total cost | 8,970,859 | 8,872,217 |
Accumulated depreciation and amortization | -7,895,816 | -7,470,815 |
Construction in progress | 702,987 | 431,385 |
Net property and equipment | 1,778,030 | 1,832,787 |
Deferred taxes, non-current portion | 1,797,811 | 1,826,482 |
Total assets | 12,509,336 | 11,139,625 |
Current liabilities: | ' | ' |
Accounts payable | 1,767,884 | 1,091,909 |
Accrued expenses | 1,201,824 | 1,106,813 |
Obligations under capital leases, current portion | 14,116 | 76,372 |
Total current liabilities | 2,983,824 | 2,275,094 |
Total liabilities | 2,983,824 | 2,275,094 |
Stockholders’ equity: | ' | ' |
Common stock, $0.01 par value, authorized 20,000,000 and 15,000,000 shares; issued 13,231,342 and 13,066,641 shares; outstanding 13,098,919 and 13,066,641 shares; at September 27, 2014 and December 28, 2013, respectively | 132,313 | 131,781 |
Additional paid-in capital | 34,616,430 | 34,278,757 |
Accumulated deficit | -24,934,065 | -25,318,332 |
Less cost of 132,423 and 111,401 common shares respectively | -289,166 | -227,675 |
Total stockholders equity | 9,525,512 | 8,864,531 |
Total liabilities and stockholders equity | $12,509,336 | $11,139,625 |
Balance_Sheets_Parenthetical
Balance Sheets (Parenthetical) (USD $) | Sep. 27, 2014 | Dec. 28, 2013 |
Statement of Financial Position [Abstract] | ' | ' |
Common Stock, authorized | 20,000,000 | 15,000,000 |
Common Stock, issued shares | 13,231,342 | 13,178,042 |
Common Stock, outstanding shares | 13,098,919 | 13,066,641 |
Common Stock, par value | $0.01 | $0.01 |
Statements_of_Operations_Unaud
Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 27, 2014 | Sep. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 | |
Income Statement [Abstract] | ' | ' | ' | ' |
Product sales | $5,984,623 | $5,918,725 | $17,066,725 | $16,072,889 |
Research and development under cooperative agreement | 85,607 | 55,764 | 124,218 | 233,220 |
Total Revenues | 6,070,230 | 5,974,489 | 17,190,943 | 16,306,109 |
Cost of product sales | 4,658,194 | 4,209,683 | 13,150,046 | 12,116,150 |
Cost of research and development under cooperative agreement | 72,861 | 46,654 | 105,017 | 194,072 |
Gross Margin | 1,339,175 | 1,718,152 | 3,935,880 | 3,995,887 |
Selling, general and administrative | 1,017,811 | 1,059,033 | 3,296,813 | 2,967,066 |
Operating income | 321,364 | 659,119 | 639,067 | 1,028,821 |
Interest (expense), net | -299 | -3,603 | -1,800 | -26,473 |
Net income before income tax expense | 321,065 | 655,516 | 637,267 | 1,002,348 |
Income tax expense | 127,000 | 204,000 | 253,000 | 311,720 |
Net income | $194,065 | $451,516 | $384,267 | $690,628 |
Net income per basic common share | $0.01 | $0.03 | $0.03 | $0.05 |
Weighted average number of basic common shares outstanding | 13,091,819 | 13,198,506 | 13,082,135 | 13,010,591 |
Net income per diluted common share | $0.01 | $0.03 | $0.03 | $0.05 |
Weighted average number of diluted common shares outstanding | 13,737,953 | 13,522,495 | 13,716,378 | 13,242,069 |
Statements_of_Cash_Flows_Unaud
Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
Sep. 27, 2014 | Sep. 28, 2013 | |
Cash flows from operating activities: | ' | ' |
Net income | $384,267 | $690,628 |
Depreciation and amortization | 425,001 | 451,663 |
Share-based compensation | 240,240 | 182,150 |
Deferred taxes | 253,000 | 311,720 |
Excess tax benefit from stock options exercised | -31,656 | -117,273 |
Changes in: | ' | ' |
Accounts receivable-trade, net | -1,690,189 | -1,346,946 |
Inventories | -455,937 | 408,455 |
Prepaid expenses | -14,793 | -32,645 |
Accounts payable | 675,975 | 358,284 |
Accrued expenses | 95,011 | 222,650 |
Net cash provided by (used in) operating activities | -119,081 | 1,128,686 |
Cash flows from investing activities: | ' | ' |
Purchases of property and equipment | -370,244 | -517,148 |
Net cash used in investing activities | -370,244 | -517,148 |
Cash flows from financing activities: | ' | ' |
Payment of capital lease obligations | -62,256 | -103,066 |
Proceeds from equipment lease line | ' | 163,155 |
Proceeds (repayments) of line of credit, net | ' | -500,000 |
Proceeds from issuance of common stock | 66,309 | 73,469 |
Excess tax benefit from stock options exercised | 31,656 | 117,273 |
Repurchase of common stock | -61,491 | -73,470 |
Net cash used in financing activities | -25,782 | -322,639 |
Net increase (decrease) in cash and cash equivalents | -515,107 | 288,899 |
Cash and cash equivalents at beginning of period | 1,571,054 | 306,854 |
Cash and cash equivalents at end of period | 1,055,947 | 595,753 |
Supplemental cash flow information: | ' | ' |
Cash paid for taxes, net of refunds | 34,706 | ' |
Interest paid | $1,811 | $26,473 |
1_Nature_of_Business
(1) Nature of Business | 9 Months Ended |
Sep. 27, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
(1) Nature of Business | ' |
(1) Nature of Business | |
CPS Technologies Corporation (the “Company” or “CPS”) provides advanced material solutions to the electronics, power generation, automotive and other industries. The Company’s primary advanced material solution is metal-matrix composites which are a combination of metal and ceramic. | |
CPS also assembles housings and packages for hybrid circuits. These housings and packages may include components made of metal-matrix composites or they may include components made of more traditional materials such as aluminum, copper-tungsten, etc. | |
The Company sells into several end markets including the wireless communications infrastructure market, high-performance microprocessor market, motor controller market, and other microelectronic and structural markets. |
2_Interim_Financial_Statements
(2) Interim Financial Statements | 9 Months Ended |
Sep. 27, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
(2) Interim Financial Statements | ' |
(2) Interim Financial Statements | |
As permitted by the rules of the Securities and Exchange Commission applicable to quarterly reports on Form 10-Q, these notes are condensed and do not contain all disclosures required by generally accepted accounting principles. | |
The accompanying financial statements are unaudited. In the opinion of management, the unaudited financial statements of CPS reflect all normal recurring adjustments which are necessary to present fairly the financial position and results of operations for such periods. | |
The Company’s balance sheet at December 28, 2013 has been derived from the audited financial statements at that date, but does not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. | |
For further information, refer to the financial statements and footnotes thereto included in the Registrant’s Annual Report on Form 10-K for the year ended December 28, 2013. | |
The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. |
3_Net_Income_Per_Common_and_Co
(3) Net Income Per Common and Common Equivalent Share | 9 Months Ended | ||||||||||||||||
Sep. 27, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
(3) Net Income Per Common and Common Equivalent Share | ' | ||||||||||||||||
(3) Net Income Per Common and Common Equivalent Share | |||||||||||||||||
Basic net income per common share is calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per common share is calculated by dividing net income by the sum of the weighted average number of common shares plus additional common shares that would have been outstanding if potential dilutive common shares had been issued for granted stock options and stock purchase rights. Common stock equivalents are excluded from the diluted calculations when a net loss is incurred as they would be anti-dilutive. | |||||||||||||||||
The following table presents the calculation of both basic and diluted EPS: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 27, | September 28, | September 27, | September 28, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Basic EPS Computation: | |||||||||||||||||
Numerator: | |||||||||||||||||
Net income | $ | 194,065 | $ | 451,516 | $ | 384,267 | $ | 690,628 | |||||||||
Denominator: | |||||||||||||||||
Weighted average | |||||||||||||||||
Common shares | |||||||||||||||||
Outstanding | 13,091,819 | 13,198,506 | 13,082,135 | 13,010,591 | |||||||||||||
Basic EPS | $ | 0.01 | $ | 0.03 | $ | 0.03 | $ | 0.05 | |||||||||
Diluted EPS Computation: | |||||||||||||||||
Numerator: | |||||||||||||||||
Net income | $ | 194,065 | $ | 451,516 | $ | 384,267 | $ | 690,628 | |||||||||
Denominator: | |||||||||||||||||
Weighted average | |||||||||||||||||
Common shares | |||||||||||||||||
Outstanding | 13,091,819 | 13,198,506 | 13,082,135 | 13,010,591 | |||||||||||||
Dilutive effect of stock options | 646,134 | 323,989 | 634,243 | 231,478 | |||||||||||||
Total Shares | 13,737,953 | 13,522,495 | 13,716,378 | 13,242,069 | |||||||||||||
Diluted EPS | $ | 0.01 | $ | 0.03 | $ | 0.03 | $ | 0.05 | |||||||||
4_ShareBased_Payments
(4) Share-Based Payments | 9 Months Ended |
Sep. 27, 2014 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' |
(4) Share-Based Payments | ' |
(4) Share-Based Payments | |
The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of the award. That cost is recognized over the period during which an employee is required to provide services in exchange for the award, the requisite service period (usually the vesting period). The Company provides an estimate of forfeitures at initial grant date. Reductions in compensation expense associated with the forfeited options are estimated at the date of grant, and this estimated forfeiture rate is adjusted periodically based on actual forfeiture experience. The company uses the Black-Scholes option pricing model to determine the fair value of the stock options granted. | |
There were no stock options granted under the Company’s 2009 Stock Incentive Plan (the “Plan”) during the quarters ended September 27, 2014 and September 28, 2013. During the three and nine months ended September 27, 2014 the Company recognized $84 thousand and $240 thousand, respectively as share-based compensation expense related to previously granted shares under the Plan. A tax benefit of $12 thousand and $32 thousand was recognized as additional paid in capital in the three and nine months ended September 27, 2014, respectively resulting from the excess tax benefit of option exercises. | |
During the three and nine months ended September 28, 2013 the Company recognized $66 thousand and $182 thousand, respectively, as share-based compensation expense related to previously granted shares under the Plan. | |
During the quarter ended September 27, 2014 the Company issued 15 thousand shares of common stock as a result of option exercises. There were no stock option exercises during the quarter ended September 28, 2013. No options expired during the quarters ended September 27, 2014 and September 28, 2013. | |
During the quarter ended September 27, 2014 the Company repurchased 4 thousand shares for $10 thousand from employees to facilitate their exercise of stock options. |
5_Inventories
(5) Inventories | 9 Months Ended | ||||||||
Sep. 27, 2014 | |||||||||
Notes to Financial Statements | ' | ||||||||
(5) Inventories | ' | ||||||||
(5) Inventories | |||||||||
Inventories consist of the following: | |||||||||
September 27, | December 28, | ||||||||
2014 | 2013 | ||||||||
Raw materials | $ | 497,083 | $ | 359,535 | |||||
Work in process | 1,381,314 | 1,135,413 | |||||||
Finished goods | 1,161,739 | 1,079,251 | |||||||
Total inventory | 3,040,136 | 2,574,199 | |||||||
Reserve for obsolescence | -400,500 | -390,500 | |||||||
Inventories, net | $ | 2,639,636 | $ | 2,183,699 | |||||
6_Accrued_Expenses
(6) Accrued Expenses | 9 Months Ended | ||||||||
Sep. 27, 2014 | |||||||||
Notes to Financial Statements | ' | ||||||||
(6) Accrued Expenses | ' | ||||||||
(6) Accrued Expenses | |||||||||
Accrued expenses consist of the following: | |||||||||
September 27, | December 28, | ||||||||
2014 | 2013 | ||||||||
Accrued legal and accounting | $ | 77,848 | $ | 92,000 | |||||
Accrued payroll | 852,402 | 823,196 | |||||||
Accrued other | 273,235 | 158,116 | |||||||
Accrued income tax | -1,661 | 33,501 | |||||||
$ | 1,201,824 | $ | 1,106,813 | ||||||
The accrued payroll at September 27, 2014 includes $150 thousand for 401k company match and $175 thousand for incentive bonuses. These items totaled $200 thousand $305 thousand respectively on December 28, 2013. |
7_Line_of_Credit_and_Equipment
(7) Line of Credit and Equipment Facility Agreements | 9 Months Ended |
Sep. 27, 2014 | |
Debt Disclosure [Abstract] | ' |
(7) Line of Credit and Equipment Facility Agreements | ' |
(7) Line of Credit and Equipment Lease Facility Agreements | |
In early May 2014, the Company renewed its $2 million revolving line of credit (“LOC”) and $500 thousand of an equipment finance facility (“Lease Line”) with Santander Bank. Both agreements mature in May 2015. The LOC is secured by the accounts receivable and other assets of the Company, has an interest rate of prime (3.25% at September 27, 2014) plus one half of one percent (0.5%) and a one-year term. Under the terms of the agreement, the Company is required to maintain its operating accounts with Santander Bank. The LOC and the Lease Line are cross defaulted and cross collateralized. The Company is also subject to certain financial covenants within the terms of the LOC that require the Company to maintain a targeted coverage ratio as well as targeted debt to equity and current ratios. At September 27, 2014, the Company was in compliance with all existing covenants. | |
At September 27, 2014, the Company had $14 thousand net carrying value of capital equipment financed by advances and capital lease obligations under the Lease Line and $486 thousand available remaining. Equipment financed by the Santander equipment lease qualifies for treatment as a capital lease once converted from the Lease Line to a lease. | |
At September 27, 2014 the Company had no borrowings under this LOC and its borrowing base at the time would have permitted an additional $2.0 million to have been borrowed. |
8_Income_Taxes
(8) Income Taxes | 9 Months Ended |
Sep. 27, 2014 | |
Income Tax Disclosure [Abstract] | ' |
(8) Income Taxes | ' |
(8) Income Taxes | |
At December 28, 2013, the Company had approximately $1.71 million of net operating loss carryforwards available to offset future income for U.S. Federal income tax purpose. | |
The Company has a current and non-current deferred tax asset aggregating $2,255 thousand and $2,476 thousand on the Company’s balance sheet at September 27, 2014 and December 28, 2013, respectively. A valuation allowance is required to be established or maintained when it is "more likely than not" that all or a portion of deferred tax assets will not be realized. The Company believes that it will generate sufficient future taxable income to realize the tax benefits related to the remaining deferred tax assets and as such no valuation allowance has been provided against the deferred tax asset. |
9_Commitments
(9) Commitments | 9 Months Ended |
Sep. 27, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
(9) Commitments | ' |
(9) Commitments | |
In July 2006, the Company entered into a lease for its current operating facilities of approximately 37,520 square feet of rentable space located on approximately seven acres at its current site in Norton, MA. The term of the lease is ten years. The lease is a triple net lease wherein the Company is responsible for payment of all real estate taxes, operating costs and utilities. The Company also has an option to buy the property and a first right of refusal during the term of the lease. Annual rental payments are $100,000 in year one increasing to $150,000 in year ten. | |
In February 2011, the Company entered into a one-year lease, with five options to renew for one year periods, for approximately 13,800 square feet of rentable space inside a larger building located at 79 Walton Street, Attleboro, Massachusetts. Monthly rent, which includes utilities, is $6,900. In December 2013 the Company agreed with the landlord for two additional, one-year options. As a result, if the Company exercises all of the options, it will be able to use the space through February 2019. |
10_Subsequent_Events
(10) Subsequent Events | 9 Months Ended |
Sep. 27, 2014 | |
Subsequent Events [Abstract] | ' |
(10) Subsequent Events | ' |
(10) Subsequent Events | |
In October 2014, the Company renewed the Attleboro, MA location lease through February, 2016. | |
On October 28, 2014, the Board of Directors added to its membership by electing Thomas M. Culligan. Mr. Culligan will also serve on the Audit, Compensation and Nominating Committees. |
3_Net_Income_Per_Common_and_Co1
(3) Net Income Per Common and Common Equivalent Share (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 27, 2014 | |||||||||||||||||
Income Statement [Abstract] | ' | ||||||||||||||||
Calculation of both basic and diluted EPS | ' | ||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 27, | September 28, | September 27, | September 28, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Basic EPS Computation: | |||||||||||||||||
Numerator: | |||||||||||||||||
Net income | $ | 194,065 | $ | 451,516 | $ | 384,267 | $ | 690,628 | |||||||||
Denominator: | |||||||||||||||||
Weighted average | |||||||||||||||||
Common shares | |||||||||||||||||
Outstanding | 13,091,819 | 13,198,506 | 13,082,135 | 13,010,591 | |||||||||||||
Basic EPS | $ | 0.01 | $ | 0.03 | $ | 0.03 | $ | 0.05 | |||||||||
Diluted EPS Computation: | |||||||||||||||||
Numerator: | |||||||||||||||||
Net income | $ | 194,065 | $ | 451,516 | $ | 384,267 | $ | 690,628 | |||||||||
Denominator: | |||||||||||||||||
Weighted average | |||||||||||||||||
Common shares | |||||||||||||||||
Outstanding | 13,091,819 | 13,198,506 | 13,082,135 | 13,010,591 | |||||||||||||
Dilutive effect of stock options | 646,134 | 323,989 | 634,243 | 231,478 | |||||||||||||
Total Shares | 13,737,953 | 13,522,495 | 13,716,378 | 13,242,069 | |||||||||||||
Diluted EPS | $ | 0.01 | $ | 0.03 | $ | 0.03 | $ | 0.05 | |||||||||
5_Inventories_Tables
(5) Inventories (Tables) | 9 Months Ended | ||||||||
Sep. 27, 2014 | |||||||||
Notes to Financial Statements | ' | ||||||||
Inventories | ' | ||||||||
September 27, | December 28, | ||||||||
2014 | 2013 | ||||||||
Raw materials | $ | 497,083 | $ | 359,535 | |||||
Work in process | 1,381,314 | 1,135,413 | |||||||
Finished goods | 1,161,739 | 1,079,251 | |||||||
Total inventory | 3,040,136 | 2,574,199 | |||||||
Reserve for obsolescence | -400,500 | -390,500 | |||||||
Inventories, net | $ | 2,639,636 | $ | 2,183,699 | |||||
6_Accrued_Expenses_Tables
(6) Accrued Expenses (Tables) | 9 Months Ended | ||||||||
Sep. 27, 2014 | |||||||||
Notes to Financial Statements | ' | ||||||||
Accrued expenses | ' | ||||||||
September 27, | December 28, | ||||||||
2014 | 2013 | ||||||||
Accrued legal and accounting | $ | 77,848 | $ | 92,000 | |||||
Accrued payroll | 852,402 | 823,196 | |||||||
Accrued other | 273,235 | 158,116 | |||||||
Accrued income tax | -1,661 | 33,501 | |||||||
$ | 1,201,824 | $ | 1,106,813 | ||||||
3_Net_Income_Per_Common_and_Co2
(3) Net Income Per Common and Common Equivalent Share - Calculation of both basic and diluted EPS (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 27, 2014 | Sep. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 | |
Basic EPS Computation: | ' | ' | ' | ' |
Net income | $194,065 | $451,516 | $384,267 | $690,628 |
Weighted average Common Shares Outstanding | 13,091,819 | 13,198,506 | 13,082,135 | 13,010,591 |
Basic EPS | $0.01 | $0.03 | $0.03 | $0.05 |
Diluted EPS Computation: | ' | ' | ' | ' |
Net income | 194,065 | 451,516 | 384,267 | 690,628 |
Weighted average Common Shares Outstanding | 13,091,819 | 13,198,506 | 13,082,135 | 13,010,591 |
Dilutive effect of stock options | $646,134 | $323,989 | $634,243 | $231,478 |
Total Shares | 13,737,953 | 13,522,495 | 13,716,378 | 13,242,069 |
Diluted EPS | $0.01 | $0.03 | $0.03 | $0.05 |
5_Inventories_Inventories_Deta
(5) Inventories - Inventories (Details) (USD $) | Sep. 27, 2014 | Dec. 28, 2013 |
Notes to Financial Statements | ' | ' |
Raw materials | $497,083 | $359,535 |
Work in process | 1,381,314 | 1,135,413 |
Finished goods | 1,161,739 | 1,079,251 |
Total inventory | 3,040,136 | 2,574,199 |
Reserve for obsolescence | -400,500 | -390,500 |
Inventories, net | $2,639,636 | $2,183,699 |
6_Accrued_Expenses_Accrued_exp
(6) Accrued Expenses - Accrued expenses (Details) (USD $) | Sep. 27, 2014 | Dec. 28, 2013 |
Notes to Financial Statements | ' | ' |
Accrued legal and accounting | $77,848 | $92,000 |
Accrued payroll | 852,402 | 823,196 |
Accrued other | 273,235 | 158,116 |
Accrued income tax | -1,661 | 33,501 |
Total accrued epenses | $1,201,824 | $1,106,813 |
4_ShareBased_Payments_Details_
(4) Share-Based Payments (Details Narrative) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 27, 2014 | Sep. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' | ' |
Share-based compensation expense | $84,000 | $66,000 | $24,000 | $182,000 |
Tax benefit from option exercises | 12,000 | ' | 32,000 | ' |
Shares of Common Stock issued from option exercises | 15,000 | ' | ' | ' |
Shares repurchased from employees to facilitate option exercise | 4,000 | ' | ' | ' |
Cost of repurchased shares from employees for option exercise | $10,000 | ' | ' | ' |
6_Accrued_Expenses_Details_Nar
(6) Accrued Expenses (Details Narrative) (USD $) | Sep. 27, 2014 | Dec. 28, 2013 |
Notes to Financial Statements | ' | ' |
Accrued 401k match | $150,000 | $200,000 |
Accrued incentive bonuses | $175,000 | $305,000 |