CPS Technologies (CPSH) 10-Q 5 Aug 22 2022 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jul. 02, 2022	Jul. 29, 2022
Document Information [Line Items]
Entity Central Index Key	0000814676
Entity Registrant Name	CPS TECHNOLOGIES CORP/DE/
Amendment Flag	false
Current Fiscal Year End Date	--12-25
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 02, 2022
Document Transition Report	false
Entity File Number	0-16088
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-2832509
Entity Address, Address Line One	111 South Worcester Street
Entity Address, City or Town	Norton
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02766-2102
City Area Code	508
Local Phone Number	222-0614
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
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	CPSH
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		14,433,509

Balance Sheets (Current Period

Balance Sheets (Current Period Unaudited) - USD ($)	Jul. 02, 2022	Jun. 30, 2022	Dec. 31, 2021	Dec. 25, 2021
Current assets:
Cash and cash equivalents	$ 5,076,282			$ 5,050,312
Accounts receivable-trade, net	4,536,973			4,870,021
Inventories, net	4,665,719			3,911,602
Prepaid expenses and other current assets	313,501			225,873
Total current assets	14,592,475			14,057,808
Property and equipment:
Production equipment	10,545,236			10,489,729
Furniture and office equipment	738,205			673,305
Leasehold improvements	968,509			951,384
Total cost	12,251,950			12,114,418
Accumulated depreciation and amortization	(11,212,803)			(11,028,154)
Construction in progress	373,776			246,669
Net property and equipment	1,412,923			1,332,933
Right-of-use lease asset	528,000			586,000
Deferred taxes, net	2,482,720			2,823,978
Total assets	19,016,118			18,800,719
Current liabilities:
Note payable, current portion		$ 47,321	$ 55,906
Accounts payable		1,621,278	2,100,251
Accrued expenses		648,180	1,086,429
Deferred revenue		1,752,543	1,707,138
Current lease liability	157,000	157,000	155,000
Total current liabilities		4,226,322	5,104,724
Note payable less current portion		77,120	98,684
Long-term lease liability	371,000	371,000	431,000
Total liabilities		4,674,442	5,634,408
Commitments and contingencies (note 4)
Stockholders` equity:
Common stock, $0.01 par value, authorized 20,000,000 shares; issued 14,438,786 and 14,350,786; outstanding 14,434,468 and 14,350,451; at July 2, 2022 and December 25, 2021, respectively;		144,388	143,508
Additional paid-in capital		39,600,085	39,281,810
Accumulated deficit		(25,381,948)	(26,256,492)
Less cost of 4,318 and 335 common shares repurchased at July 2, 2022 and December 25, 2021, respectively;		(20,849)	(2,515)
Total stockholders` equity	$ 14,341,676	14,341,676	13,166,311	$ 13,166,311
Total liabilities and stockholders` equity		$ 19,016,118	$ 18,800,719

Balance Sheets (Current Perio_2

Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized shares (in shares)	20,000,000	20,000,000
Common stock, issued shares (in shares)	14,436,786	14,350,786
Common stock, outstanding shares (in shares)	14,434,468	14,350,451
Treasury stock, shares (in shares)	4,318	335

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jun. 26, 2021	Jul. 02, 2022	Jun. 26, 2021
Product sales	$ 7,070,743	$ 5,862,183	$ 13,723,457	$ 10,727,890
Total revenues	7,070,743	5,862,183	13,723,457	10,727,890
Cost of product sales	5,242,106	4,510,600	9,931,330	8,432,168
Gross Margin	1,828,637	1,351,583	3,792,127	2,295,722
Selling, general, and administrative expense	1,159,157	1,098,616	2,575,550	2,007,086
Income from operations	669,480	252,967	1,216,577	288,636
Interest income (expense), net	1,594	(13,769)	(319)	(18,079)
Net income before income tax	671,074	239,198	1,216,258	270,557
Income tax provision	215,966		341,714	456
Net income	$ 455,108	$ 239,198	$ 874,544	$ 270,101
Net income per basic common share (in dollars per share)	$ 0.03	$ 0.02	$ 0.06	$ 0.02
Weighted average number of basic common shares outstanding (in shares)	14,431,825	13,982,177	14,410,064	13,783,276
Net income per diluted common share (in dollars per share)	$ 0.03	$ 0.02	$ 0.06	$ 0.02
Weighted average number of diluted common shares outstanding (in shares)	14,708,646	14,550,918	14,682,516	14,407,904

Statements of Stockholders' Equ

Statements of Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Total
Balance (in shares) at Dec. 26, 2020	13,746,242
Balance at Dec. 26, 2020	$ 137,462	$ 36,688,894	$ (29,472,369)	$ (996,323)	$ 6,357,664
Share-based compensation expense		119,535			119,535
Issuance of common stock	$ (4,793)	(3,132,599)			$ (3,137,392)
Employee option exercises (in shares)	629,900				629,900
Employee option exercises	$ 6,299	1,234,630		(1,229,700)	$ 11,229
Net income (loss)			270,101		270,101
Issuance of common stock (in shares)	479,900
Issuance of common stock	$ 4,793	3,132,599			3,137,392
Treasury shares retired (in shares)	(554,660)
Treasury shares retired	$ (5,547)	(2,218,706)		2,224,253
Balance (in shares) at Jun. 26, 2021	14,300,771
Balance at Jun. 26, 2021	$ 143,007	38,956,952	(29,202,268)	(1,770)	9,895,921
Balance (in shares) at Mar. 27, 2021	14,360,042
Balance at Mar. 27, 2021	$ 143,600	37,925,674	(29,441,466)	(2,201,509)	6,426,299
Share-based compensation expense		92,113			92,113
Issuance of common stock	$ (4,793)	(3,132,599)			$ (3,137,392)
Employee option exercises (in shares)	16,100				16,100
Employee option exercises	$ 161	25,272		(24,514)	$ 919
Net income (loss)			239,198		239,198
Issuance of common stock (in shares)	479,289
Issuance of common stock	$ 4,793	3,132,599			3,137,392
Treasury shares retired (in shares)	(554,660)
Treasury shares retired	$ (5,547)	(2,218,706)		2,224,253
Balance (in shares) at Jun. 26, 2021	14,300,771
Balance at Jun. 26, 2021	$ 143,007	38,956,952	(29,202,268)	(1,770)	9,895,921
Balance (in shares) at Dec. 25, 2021	14,350,786
Balance at Dec. 25, 2021	$ 143,508	39,281,810	(26,256,492)	(2,515)	13,166,311
Share-based compensation expense		163,855			163,855
Issuance of common stock		(17,758)			$ (17,758)
Employee option exercises (in shares)	88,000				88,000
Employee option exercises	$ 880	172,178		(18,334)	$ 154,724
Net income (loss)			874,544		874,544
Issuance of common stock		17,758			17,758
Balance (in shares) at Jul. 02, 2022	14,438,786
Balance at Jul. 02, 2022	$ 144,388	39,600,085	(25,381,948)	(20,849)	14,341,676
Balance (in shares) at Apr. 02, 2022	14,423,486
Balance at Apr. 02, 2022	$ 144,235	39,546,975	(25,837,056)	(5,623)	13,848,531
Share-based compensation expense		39,384			39,384
Issuance of common stock		(8,144)			$ (8,144)
Employee option exercises (in shares)	15,300				15,300
Employee option exercises	$ 153	21,870		(15,226)	$ 6,797
Net income (loss)			455,108		455,108
Issuance of common stock		8,144			8,144
Balance (in shares) at Jul. 02, 2022	14,438,786
Balance at Jul. 02, 2022	$ 144,388	$ 39,600,085	$ (25,381,948)	$ (20,849)	$ 14,341,676

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jul. 02, 2022	Jun. 26, 2021
Cash flows from operating activities:
Net income (loss)	$ 874,544	$ 270,101
Adjustments to reconcile net income to cash provided by (used in) operating activities:
Depreciation and amortization	211,641	284,408
Share-based compensation	163,855	119,535
Changes in:
Accounts receivable-trade	333,048	(1,517,511)
Inventories	(754,117)	(279,963)
Prepaid expenses and other current assets	(87,628)	(202,018)
Accounts payable	(478,973)	613,046
Accrued expenses	(438,249)	193,665
Deferred taxes	341,258
Deferred revenue	45,405	388,697
Net cash provided by (used in) operating activities	210,784	(130,040)
Cash flows from investing activities:
Purchases of property and equipment	(291,631)	(163,524)
Net cash used in investing activities	(291,631)	(163,524)
Cash flows from financing activities:
Proceeds from exercise of employee stock options, net of repurchases	154,724	11,229
Proceeds from issuance of common stock, net of expenses	(17,758)	3,137,392
Payments on note payable	(30,149)	(34,500)
Net cash provided by (used in) financing activities	106,817	3,114,121
Net increase (decrease) in cash and cash equivalents	25,970	2,820,557
Cash and cash equivalents at beginning of period	5,050,312	195,203
Cash and cash equivalents at end of period	5,076,282	3,015,760
Supplemental disclosures of cash flows information:
Cash paid for interest	4,353	18,079
Supplemental disclosures of non-cash activity:
Net exercise of stock options	$ 18,334	$ 24,514

Note 1 - Nature of Business

Note 1 - Nature of Business	6 Months Ended
	Jul. 02, 2022
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	( 1 CPS Technologies Corp. (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 (MMC’s) which are a combination of metal and ceramic. CPS also assembles housings and packages for hybrid circuits. These housings and packages may may Using its proprietary MMC technology, the Company also produces light-weight armor, particularly for extreme environments and heavy ballistic threat levels. The Company sells into several end markets including the aerospace & defense markets, wireless communications infrastructure market, high-performance microprocessor market, motor controller market, and other microelectronic markets.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	6 Months Ended
	Jul. 02, 2022
Notes to Financial Statements
Significant Accounting Policies [Text Block]	( 2 Summary of Significant Accounting Policies As permitted by the rules of the Securities and Exchange Commission applicable to quarterly reports on Form 10 not 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 25, 2021 not For further information, refer to the financial statements and footnotes thereto included in the Registrant’s Annual Report on Form 10 December 25, 2021 The results of operations for interim periods are not

Note 3 - Net Income Per Common

Note 3 - Net Income Per Common and Common Equivalent Share	6 Months Ended
	Jul. 02, 2022
Notes to Financial Statements
Earnings Per Share [Text Block]	( 3 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 Six Months Ended July 2, June 26, July 2, June 26, 2022 2021 2022 2021 Basic EPS Computation: Numerator: Net income (loss) $ 455,108 $ 239,198 $ 874,544 $ 270,101 Denominator: Weighted average Common shares Outstanding 14,431,825 13,982,177 14,410,064 13,783,276 Basic EPS $ 0.03 $ 0.02 $ 0.06 $ 0.02 Diluted EPS Computation: Numerator: Net income (loss) $ 455,108 $ 239,198 $ 874,544 $ 270,101 Denominator: Weighted average Common shares Outstanding 14,431,825 13,982,177 14,410,064 13,783,276 Dilutive effect of stock options 276,821 568,741 272,452 624,628 Total Shares 14,708,646 14,550,918 14,682,516 14,407,904 Diluted EPS $ 0.03 $ 0.02 $ 0.06 $ 0.02

Note 4 - Commitments & Continge

Note 4 - Commitments & Contingencies	6 Months Ended
	Jul. 02, 2022
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	( 4 Commitments Leases The Company has one February 2026. None 12 The real estate lease expiring in 2026 March 1, 2021 not Operating Leases The Norton facility lease comprises approximately 38 thousand square feet. The lease is 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 renew the lease starting in March 2026 February 2032. The following table presents information about the amount, timing and uncertainty of cash flows arising from the Company’s capitalized operating leases as of July 2, 2022 (Dollars in Thousands) July 2, 2022 Maturity of capitalized lease liabilities Lease payments 2022 81 2023 162 2024 165 2025 165 2026 28 Total undiscounted operating lease payments $ 601 Less: Imputed interest (73 ) Present value of operating lease liability $ 528 Balance Sheet Classification Current lease liability $ 157 Long-term lease liability 371 Total operating lease liability $ 528 Other Information Weighted-average remaining lease term for capitalized operating leases (months) 44 Weighted-average discount rate for capitalized operating leases 6.6 % Operating Lease Costs and Cash Flows Operating lease cost and cash paid was $41 thousand during the second 2022 six July 2, 2022. Finance Leases The company does not

Note 5 - Share-based Payments

Note 5 - Share-based Payments	6 Months Ended
	Jul. 02, 2022
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	( 5 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. During the quarter ended July 2, 2022, 2020 July 2, 2022, June 26, 2021, 2020 June 26, 2021, During the three six July 2, 2022, three six June 26,2021 During the three six July 2, 2022, three six June 26,2021 There were also 968,100 shares outstanding at a weighted average price of $2.41 with a weighted average remaining term of 6.46 years as of July 2, 2022, July 2, 2022. July 2, 2022, As of July 2, 2022, During the three six July 2, 2022, During the three six June 26,2021,

Note 6 - Inventories

Note 6 - Inventories	6 Months Ended
	Jul. 02, 2022
Notes to Financial Statements
Inventory Disclosure [Text Block]	( 6 Inventories consist of the following: July 2, December 25, 2022 2021 Raw materials $ 2,691,395 $ 2,080,778 Work in process 1,447,528 1,309,572 Finished goods 704,638 805,159 Total inventory 4,843,561 4,195,509 Reserve for obsolescence (177,842 ) (283,907 ) Inventories, net $ 4,665,719 $ 3,911,602

Note 7 - Accrued Expenses

Note 7 - Accrued Expenses	6 Months Ended
	Jul. 02, 2022
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	( 7 Accrued expenses consist of the following: July 2, December 25, 2022 2021 Accrued legal and accounting $ 62,474 $ 79,917 Accrued payroll and related expenses 460,293 905,698 Accrued other 125,413 100,814 $ 648,180 $ 1,086,429

Note 8 - Line of Credit

Note 8 - Line of Credit	6 Months Ended
	Jul. 02, 2022
Notes to Financial Statements
Debt Disclosure [Text Block]	( 8 Line of Credit In September 2019, may May 2020, July 2, 2022, The line of credit is subject to certain financial covenants, all of which have been met.

Note 9 - Note Payable

Note 9 - Note Payable	6 Months Ended
	Jul. 02, 2022
Notes to Financial Statements
Long-Term Debt [Text Block]	( 9 Note Payable In March 2020, third In July 2020 The aggregate maturities of the notes payable based on the payment terms of the agreement are as follows: Remaining in: Payments due by period FY 2022 $ 25,882 FY 2023 $ 43,837 FY 2024 $ 46,757 FY 2025 $ 8,090 Total 124,566 Total interest expense on notes payable during 2022

Note 10 - Income Taxes

Note 10 - Income Taxes	6 Months Ended
	Jul. 02, 2022
Notes to Financial Statements
Income Tax Disclosure [Text Block]	( 10 Income Taxes A valuation allowance against deferred tax assets is required to be established or maintained when it is "more likely than not" not December 2018, not not In September 2021, not” 2021 . second 2022 Q2 6 months ended July 2, 2022,

Note 3 - Net Income Per Commo_2

Note 3 - Net Income Per Common and Common Equivalent Share (Tables)	6 Months Ended
	Jul. 02, 2022
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Six Months Ended July 2, June 26, July 2, June 26, 2022 2021 2022 2021 Basic EPS Computation: Numerator: Net income (loss) $ 455,108 $ 239,198 $ 874,544 $ 270,101 Denominator: Weighted average Common shares Outstanding 14,431,825 13,982,177 14,410,064 13,783,276 Basic EPS $ 0.03 $ 0.02 $ 0.06 $ 0.02 Diluted EPS Computation: Numerator: Net income (loss) $ 455,108 $ 239,198 $ 874,544 $ 270,101 Denominator: Weighted average Common shares Outstanding 14,431,825 13,982,177 14,410,064 13,783,276 Dilutive effect of stock options 276,821 568,741 272,452 624,628 Total Shares 14,708,646 14,550,918 14,682,516 14,407,904 Diluted EPS $ 0.03 $ 0.02 $ 0.06 $ 0.02

Note 4 - Commitments & Contin_2

Note 4 - Commitments & Contingencies (Tables)	6 Months Ended
	Jul. 02, 2022
Notes Tables
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	(Dollars in Thousands) July 2, 2022 Maturity of capitalized lease liabilities Lease payments 2022 81 2023 162 2024 165 2025 165 2026 28 Total undiscounted operating lease payments $ 601 Less: Imputed interest (73 ) Present value of operating lease liability $ 528
Lease, Cost [Table Text Block]	Balance Sheet Classification Current lease liability $ 157 Long-term lease liability 371 Total operating lease liability $ 528 Other Information Weighted-average remaining lease term for capitalized operating leases (months) 44 Weighted-average discount rate for capitalized operating leases 6.6 %

Note 6 - Inventories (Tables)

Note 6 - Inventories (Tables)	6 Months Ended
	Jul. 02, 2022
Notes Tables
Schedule of Inventory, Current [Table Text Block]	July 2, December 25, 2022 2021 Raw materials $ 2,691,395 $ 2,080,778 Work in process 1,447,528 1,309,572 Finished goods 704,638 805,159 Total inventory 4,843,561 4,195,509 Reserve for obsolescence (177,842 ) (283,907 ) Inventories, net $ 4,665,719 $ 3,911,602

Note 7 - Accrued Expenses (Tabl

Note 7 - Accrued Expenses (Tables)	6 Months Ended
	Jul. 02, 2022
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	July 2, December 25, 2022 2021 Accrued legal and accounting $ 62,474 $ 79,917 Accrued payroll and related expenses 460,293 905,698 Accrued other 125,413 100,814 $ 648,180 $ 1,086,429

Note 9 - Note Payable (Tables)

Note 9 - Note Payable (Tables)	6 Months Ended
	Jul. 02, 2022
Notes Tables
Schedule of Maturities of Long-Term Debt [Table Text Block]	Remaining in: Payments due by period FY 2022 $ 25,882 FY 2023 $ 43,837 FY 2024 $ 46,757 FY 2025 $ 8,090 Total 124,566

Note 3 - Net Income Per Commo_3

Note 3 - Net Income Per Common and Common Equivalent Share - Table of Both Basic and Diluted EPS (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jun. 26, 2021	Jul. 02, 2022	Jun. 26, 2021
Basic EPS Computation:
Net income (loss)	$ 455,108	$ 239,198	$ 874,544	$ 270,101
Weighted average common shares outstanding (in shares)	14,431,825	13,982,177	14,410,064	13,783,276
Basic EPS (in dollars per share)	$ 0.03	$ 0.02	$ 0.06	$ 0.02
Diluted EPS Computation:
Net income (loss)	$ 455,108	$ 239,198	$ 874,544	$ 270,101
Weighted average common shares outstanding (in shares)	14,431,825	13,982,177	14,410,064	13,783,276
Dilutive effect of stock options (in shares)	276,821	568,741	272,452	624,628
Total Shares (in shares)	14,708,646	14,550,918	14,682,516	14,407,904
Diluted EPS (in dollars per share)	$ 0.03	$ 0.02	$ 0.06	$ 0.02

Note 4 - Commitments & Contin_3

Note 4 - Commitments & Contingencies (Details Textual) ft² in Thousands, $ in Thousands	3 Months Ended	6 Months Ended
	Jul. 02, 2022 USD ($) ft²	Jul. 02, 2022 USD ($) ft²
Area of Real Estate Property (Square Foot) | ft²	38	38
Norton Facility [Member]
Operating Lease, Expense	$ 41	$ 79
Minimum [Member]
Lessee, Operating Lease, Annual Rent Payments		160
Maximum [Member]
Lessee, Operating Lease, Annual Rent Payments		$ 165

Note 4 - Commitments & Contin_4

Note 4 - Commitments & Contingencies - Maturity of Capitalized Lease Liabilities (Details) $ in Thousands	Jul. 02, 2022 USD ($)
2022	$ 81
2023	162
2024	165
2025	165
2026	28
Total undiscounted operating lease payments	601
Less: Imputed interest	(73)
Present value of operating lease liability	$ 528

Note 4 - Commitments & Contin_5

Note 4 - Commitments & Contingencies - Costs (Details) - USD ($)	Jul. 02, 2022	Jun. 30, 2022	Dec. 31, 2021
Current lease liability	$ 157,000	$ 157,000	$ 155,000
Long-term lease liability	371,000	$ 371,000	$ 431,000
Total operating lease liability	$ 528,000
Weighted-average remaining lease term for capitalized operating leases (months) (Year)	44 years
Weighted-average discount rate for capitalized operating leases	6.60%

Note 5 - Share-based Payments (

Note 5 - Share-based Payments (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jun. 26, 2021	Jul. 02, 2022	Jun. 26, 2021
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)	$ 4.41	$ 5.81
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares)	15,300	16,100	88,000	629,900
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price (in dollars per share)	$ 1.44	$ 1.58	$ 1.97	$ 1.97
Stock Repurchased During Period, Shares (in shares)	3,143	2,235	3,983	122,431
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)	968,100		968,100
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share)	$ 2.41		$ 2.41
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year)			6 years 5 months 15 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Number (in shares)	517,800		517,800
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 2.02		$ 2.02
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term (Year)			4 years 6 months 7 days
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)	1,500,000		1,500,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)	930,800		930,800
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 616,000		$ 616,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)			1 year 11 months 12 days
Share-Based Payment Arrangement, Expensed and Capitalized, Amount, Total	$ 39,384	$ 91,113	$ 163,855	$ 119,535
Employees [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)	15,000	26,000
Outside Directors [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)	0	22,000

Note 6 - Inventories - Inventor

Note 6 - Inventories - Inventories (Details) - USD ($)	Jul. 02, 2022	Dec. 25, 2021
Raw materials	$ 2,691,395	$ 2,080,778
Work in process	1,447,528	1,309,572
Finished goods	704,638	805,159
Total inventory	4,843,561	4,195,509
Reserve for obsolescence	(177,842)	(283,907)
Inventories, net	$ 4,665,719	$ 3,911,602

Note 7 - Accrued Expenses - Acc

Note 7 - Accrued Expenses - Accrued Expenses (Details) - USD ($)	Jul. 02, 2022	Dec. 25, 2021
Accrued legal and accounting	$ 62,474	$ 79,917
Accrued payroll and related expenses	460,293	905,698
Accrued other	125,413	100,814
Accounts Payable and Accrued Liabilities, Current, Total	$ 648,180	$ 1,086,429

Note 8 - Line of Credit (Detail

Note 8 - Line of Credit (Details Textual) - Massachusetts Business Development Corporation [Member] - Revolving Credit Facility [Member] - USD ($) $ in Thousands		1 Months Ended
	Sep. 30, 2019	May 31, 2021	Jul. 02, 2022	May 31, 2020
Line of Credit Facility, Maximum Borrowing Capacity	$ 2,500			$ 3,000
Debt Instrument, Termination Period (Year)	3 years
Long-term Line of Credit, Total			$ 0
Line of Credit Facility, Remaining Borrowing Capacity			$ 3,000
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		5.50%

Note 9 - Note Payable (Details

Note 9 - Note Payable (Details Textual) - USD ($)	1 Months Ended		6 Months Ended
	Jul. 31, 2020	Mar. 31, 2020	Jul. 02, 2022	Dec. 25, 2021
Property, Plant and Equipment, Gross, Ending Balance			$ 12,251,950	$ 12,114,418
Interest Expense, Debt, Total			$ 4,353
Microscope Note Payable [Member]
Debt Instrument, Term (Year)		5 years
Debt Instrument, Periodic Payment, Total		$ 4,000
Debt Instrument, Interest Rate, Stated Percentage		6.47%
Machine Vendor Financing [Member]
Debt Instrument, Term (Year)	2 years
Debt Instrument, Periodic Payment, Total	$ 2,000
Debt Instrument, Interest Rate, Stated Percentage	1.90%
Notes Payable, Total	$ 40,000
Sonoscan Ultrasound Microscope [Member]
Property, Plant and Equipment, Gross, Ending Balance		$ 208,000

Note 9 - Note Payable - Note Pa

Note 9 - Note Payable - Note Payable Maturities (Details)	Jul. 02, 2022 USD ($)
FY 2022	$ 25,882
FY 2023	43,837
FY 2024	46,757
FY 2025	8,090
Total	$ 124,566

Note 10 - Income Taxes (Details

Note 10 - Income Taxes (Details Textual) - USD ($)	3 Months Ended	6 Months Ended
	Jul. 02, 2022	Jul. 02, 2022
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ 215,966	$ 341,258