CPS Technologies (CPSH) 10-Q 2 Aug 24 2024 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 29, 2024	Jul. 24, 2024
Document Information [Line Items]
Entity Central Index Key	0000814676
Entity Registrant Name	CPS TECHNOLOGIES CORP/DE/
Amendment Flag	false
Current Fiscal Year End Date	--12-28
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 29, 2024
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		14,525,960

Balance Sheets (Current Period

Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 29, 2024	Dec. 30, 2023
Current assets:
Cash and cash equivalents	$ 6,306,244	$ 8,813,626
Marketable securities, at fair value	758,701	0
Accounts receivable-trade, net	4,064,293	4,389,155
Accounts receivable-other	198,348	83,191
Inventories, net	4,121,678	4,581,930
Prepaid expenses and other current assets	366,655	276,349
Total current assets	15,815,919	18,144,251
Property and equipment:
Production equipment	9,940,480	11,271,982
Furniture and office equipment	891,921	952,883
Leasehold improvements	873,730	985,649
Total cost	11,706,131	13,210,514
Accumulated depreciation and amortization	(10,068,557)	(11,936,004)
Construction in progress	496,331	281,629
Net property and equipment	2,133,905	1,556,139
Right-of-use lease asset	261,000	332,000
Deferred taxes, net	1,877,302	1,569,726
Total assets	20,088,126	21,602,116
LIABILITIES AND STOCKHOLDERS` EQUITY
Common stock, $0.01 par value, authorized 20,000,000 shares; issued 14,601,487 shares; outstanding 14,519,215 shares at each June 29, 2024 and December 30, 2023	146,015	146,015
Additional paid-in capital	40,386,335	40,180,893
Accumulated other comprehensive income	8,701	0
Accumulated deficit	(23,852,254)	(22,754,796)
Less cost of 82,272 common shares repurchased at each June 29, 2024 and December 30, 2023	(250,138)	(250,138)
Total stockholders` equity	16,438,659	17,321,974
Total liabilities and stockholders` equity	20,088,126	21,602,116
Current liabilities:
Note payable, current portion	31,885	46,797
Accounts payable	2,587,874	2,535,086
Accrued expenses	671,853	1,075,137
Deferred revenue	65,578	251,755
Current lease liability	160,000	160,000
Total current liabilities	3,517,190	4,068,775
Note payable less current portion	0	8,090
Deferred revenue – long term	31,277	31,277
Long-term lease liability	101,000	172,000
Total liabilities	3,649,467	4,280,142
Commitments and contingencies (note 6)

Balance Sheets (Current Perio_2

Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Jun. 29, 2024	Dec. 30, 2023
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	20,000,000	20,000,000
Common stock, issued (in shares)	14,601,487	14,601,487
Common stock, outstanding (in shares)	14,519,215	14,519,215
Treasury stock, shares (in shares)	82,272	82,272

Statements of Operations and Ot

Statements of Operations and Other Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Product sales	$ 5,030,313	$ 7,418,138	$ 10,942,947	$ 14,518,405
Total revenues	5,030,313	7,418,138	10,942,947	14,518,405
Cost of product sales	5,260,305	5,221,879	10,266,629	10,077,444
Gross margin	(229,992)	2,196,259	676,318	4,440,961
Selling, general, and administrative expense	1,084,995	1,465,349	2,250,917	3,015,871
Income (loss) from operations	(1,314,987)	730,910	(1,574,599)	1,425,090
Interest income (expense), net	90,851	79,652	170,021	95,242
Net income (loss) before income tax	(1,224,136)	810,562	(1,404,578)	1,520,332
Income tax provision (benefit)	(269,832)	210,058	(307,120)	460,628
Net income (loss)	(954,304)	600,503	(1,097,458)	1,059,704
Net unrealized gains on available for sale securities	8,701		8,701
Total other comprehensive income	8,701		8,701
Total comprehensive income (loss)	$ (945,603)	$ 600,503	$ (1,088,757)	$ 1,059,704
Net income (loss) per basic common share (in dollars per share)	$ (0.07)	$ 0.04	$ (0.08)	$ 0.07
Weighted average number of basic common shares outstanding (in shares)	14,519,215	14,493,970	14,519,215	14,473,128
Net income (loss) per diluted common share (in dollars per share)	$ (0.07)	$ 0.04	$ (0.08)	$ 0.07
Weighted average number of diluted common shares outstanding (in shares)	14,519,215	14,621,929	14,519,215	14,630,765

Statements of Stockholders' Equ

Statements of Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Treasury Stock, Common [Member]	Total
Balance (in shares) at Dec. 31, 2022	14,460,486
Balance at Dec. 31, 2022	$ 144,605	$ 39,726,851		$ (24,125,092)	$ (40,848)	$ 15,705,516
Share-based compensation expense	0	147,757		0	0	147,757
Net income (loss)	$ 0	0		1,059,704	0	$ 1,059,704
Employee option exercises (in shares)	86,001					86,001
Employee option exercises	$ 860	103,845		0	(71,090)	$ 33,615
Balance (in shares) at Jul. 01, 2023	14,546,487
Balance at Jul. 01, 2023	$ 145,465	39,978,453		(23,065,388)	(111,938)	16,946,592
Balance (in shares) at Apr. 01, 2023	14,467,487
Balance at Apr. 01, 2023	$ 144,675	39,867,507		(23,665,891)	(41,638)	16,304,653
Share-based compensation expense	0	17,316		0	0	17,316
Net income (loss)	$ 0	0		600,503	0	$ 600,503
Employee option exercises (in shares)	79,000					79,000
Employee option exercises	$ 790	93,630		0	(70,300)	$ 24,120
Balance (in shares) at Jul. 01, 2023	14,546,487
Balance at Jul. 01, 2023	$ 145,465	39,978,453		(23,065,388)	(111,938)	16,946,592
Balance (in shares) at Dec. 30, 2023	14,601,487
Balance at Dec. 30, 2023	$ 146,015	40,180,893	$ 0	(22,754,796)	(250,138)	17,321,974
Share-based compensation expense	0	205,442	0	0	0	205,442
Other comprehensive income	0	0	8,701	0	0	8,701
Net income (loss)	$ 0	0	0	(1,097,458)	0	$ (1,097,458)
Employee option exercises (in shares)						0
Balance (in shares) at Jun. 29, 2024	14,601,487
Balance at Jun. 29, 2024	$ 146,015	40,386,335	8,701	(23,852,254)	(250,138)	$ 16,438,659
Balance (in shares) at Mar. 29, 2024	14,601,487
Balance at Mar. 29, 2024	$ 146,015	40,341,855	0	(22,897,950)	(250,138)	17,339,782
Share-based compensation expense	0	44,480	0	0	0	44,480
Other comprehensive income	0	0	8,701	0	0	8,701
Net income (loss)	$ 0	0	0	(954,304)	0	(954,304)
Balance (in shares) at Jun. 29, 2024	14,601,487
Balance at Jun. 29, 2024	$ 146,015	$ 40,386,335	$ 8,701	$ (23,852,254)	$ (250,138)	$ 16,438,659

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Cash flows from operating activities:
Net income (loss)	$ (1,097,458)	$ 1,059,704
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:
Depreciation and amortization	237,954	252,969
Share-based compensation	205,442	147,757
Changes in:
Accounts receivable-trade	324,862	(1,296,584)
Accounts receivable-other	(115,157)	611,028
Inventories	460,252	62,148
Prepaid expenses and other current assets	(90,306)	(77,073)
Accounts payable	52,788	522,667
Accrued expenses	(403,284)	40,658
Deferred taxes	(307,576)	405,404
Deferred revenue	(186,177)	(892,803)
Net cash provided by (used in) operating activities	(918,660)	835,875
Cash flows from investing activities:
Purchases of property and equipment	(815,720)	(433,579)
Purchase of marketable securities	(750,000)	0
Net cash used in investing activities	(1,565,720)	(433,579)
Cash flows from financing activities:
Proceeds from exercise of employee stock options, net of repurchases	0	33,615
Payments on note payable	(23,002)	(21,439)
Net cash provided by (used in) financing activities	(23,002)	12,176
Net increase (decrease) in cash and cash equivalents	(2,507,382)	414,472
Cash and cash equivalents at beginning of period	8,813,626	8,266,753
Cash and cash equivalents at end of period	6,306,244	8,681,225
Supplemental disclosures of cash flows information:
Cash paid for interest	1,465	2,902
Supplemental disclosures of non-cash activity:
Net exercise of stock options	$ 0	$ 71,090

Note 1 - Nature of Business

Note 1 - Nature of Business	6 Months Ended
	Jun. 29, 2024
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	( 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 may Using its proprietary MMC technology, the Company also produces light-weight armor, particularly for extreme environments and heavy threat levels. The Company also engages in research and development, in some cases government funded and in others internally funded, focused on developing new products in response to customer requirements. These products expand our offerings in existing markets and enable penetration into new markets. The Company sells into several end markets including the wireless communications infrastructure market, high-performance microprocessor market, motor controller market, and other microelectronic and defense markets.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	6 Months Ended
	Jun. 29, 2024
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 30, 2023 not For further information, refer to the financial statements and footnotes thereto included in the Registrant’s Annual Report on Form 10 December 30, 2023 The results of operations for interim periods are not

Note 3 - Marketable Securities

Note 3 - Marketable Securities	6 Months Ended
	Jun. 29, 2024
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	( 3 Marketable Securities Investments consist of U.S. Treasury Bills with maturities up to one not

Note 4 - Fair Value of Marketab

Note 4 - Fair Value of Marketable Securities	6 Months Ended
	Jun. 29, 2024
Notes to Financial Statements
Fair Value Disclosures [Text Block]	( 4 Fair value of Marketable Securities ASC 820, Fair Value Measurements 820” three no 12 June 29, 2024 no December 30, 2023. June 29, 2024 December 30, 2023 Cost basis $ 750,000 -- Unrealized gain $ 8,701 -- Total fair value $ 758,701 --

Note 5 - Net Income Per Common

Note 5 - Net Income Per Common and Common Equivalent Share	6 Months Ended
	Jun. 29, 2024
Notes to Financial Statements
Earnings Per Share [Text Block]	( 5 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. Had there been a profit in Q2 2024, The following table presents the calculation of both basic and diluted EPS: Three Months Ended Six Months Ended June 29, July 1, June 29, July 1, 2024 2023 2024 2023 Basic EPS Computation: Numerator: Net income (loss) $ (954,304 ) $ 600,503 $ (1,097,458 ) $ 1,059,704 Denominator: Weighted average Common shares Outstanding 14,519,215 14,493,970 14,519,215 14,473,128 Basic EPS $ (0.07 ) $ 0.04 $ (0.08 ) $ 0.07 Diluted EPS Computation: Numerator: Net income (loss) $ (954,304 ) $ 600,503 $ (1,097,458 ) $ 1,059,704 Denominator: Weighted average Common shares Outstanding 14,519,215 14,493,970 14,519,215 14,473,128 Dilutive effect of stock options - 127,959 - 157,637 Total Shares 14,519,215 14,621,929 14,519,215 14,630,765 Diluted EPS $ (0.07 ) $ 0.04 $ (0.08 ) $ 0.07

Note 6 - Commitments and Contin

Note 6 - Commitments and Contingencies	6 Months Ended
	Jun. 29, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	( 6 Commitments & Contingencies Commitments Operating Leases The Company has one February 2026. None 12 The real estate lease expiring in 2026 not 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 lease as of June 29, 2024: (Dollars in Thousands) June 29, 2024 Maturity of capitalized lease liabilities Lease payments 2024 $ 83 2025 165 2026 28 Total undiscounted operating lease payments $ 276 Less: Imputed interest (15 ) Present value of operating lease liability $ 261 Balance Sheet Classification Current lease liability $ 160 Long-term lease liability 101 Total operating lease liability $ 261 Other Information Remaining lease term for capitalized operating lease (months) 20 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 2024 six June 29, 2024. Finance Leases The company does not

Note 7 - Share-based Payments

Note 7 - Share-based Payments	6 Months Ended
	Jun. 29, 2024
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	( 7 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. During the quarter ended June 29, 2024, 2020 June 29, 2024 July 1, 2023, 2020 July 1, 2023, During the three six June 29, 2024, three six July 1, 2023, During the three six June 29, 2024, not three six July 1, 2023, There were also 1,097,900 options outstanding at a weighted average price of $2.61 with a weighted average remaining term of 6.81 years as of June 29, 2024, June 29, 2024. June 29, 2024, 2020 2009 As of June 29, 2024, During the three six June 29, 2024, During the three six July 1, 2023,

Note 8 - Inventories

Note 8 - Inventories	6 Months Ended
	Jun. 29, 2024
Notes to Financial Statements
Inventory Disclosure [Text Block]	( 8 Inventories Inventories consist of the following: June 29, December 30, 2024 2023 Raw materials $ 2,567,758 $ 2,861,333 Work in process 1,579,991 1,493,582 Finished goods 393,889 537,975 Total inventory 4,541,638 4,892,890 Reserve for obsolescence (419,960 ) (310,960 ) Inventories, net $ 4,121,678 $ 4,581,930

Note 9 - Accrued Expenses

Note 9 - Accrued Expenses	6 Months Ended
	Jun. 29, 2024
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	( 9 Accrued Expenses Accrued expenses consist of the following: June 29, December 30, 2024 2023 Accrued legal and accounting $ 67,846 $ 86,000 Accrued payroll and related expenses 246,953 649,201 Accrued product returns 288,000 288,000 Accrued other 69,054 51,936 $ 671,853 $ 1,075,137

Note 10 - Line of Credit

Note 10 - Line of Credit	6 Months Ended
	Jun. 29, 2024
Notes to Financial Statements
Debt Disclosure [Text Block]	( 10 Line of Credit In May 2023, June 29, 2024) June 29, 2024,

Note 11 - Note Payable

Note 11 - Note Payable	6 Months Ended
	Jun. 29, 2024
Notes to Financial Statements
Long-Term Debt [Text Block]	( 11 Note Payable In March 2020, third 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 2024 $ 23,795 FY 2025 $ 8,090 Total 31,885 Total interest expense on notes payable during 2024

Note 12 - Income Taxes

Note 12 - Income Taxes	6 Months Ended
	Jun. 29, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	( 12 Income Taxes A valuation allowance against deferred tax assets is required to be established or maintained when it is "more likely than not" not not For the three six June 29, 2024 Q2

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
	Jun. 29, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	ITEM 5 OTHER INFORMATION Not
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Note 4 - Fair Value of Market_2

Note 4 - Fair Value of Marketable Securities (Tables)	6 Months Ended
	Jun. 29, 2024
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	June 29, 2024 December 30, 2023 Cost basis $ 750,000 -- Unrealized gain $ 8,701 -- Total fair value $ 758,701 --

Note 5 - Net Income Per Commo_2

Note 5 - Net Income Per Common and Common Equivalent Share (Tables)	6 Months Ended
	Jun. 29, 2024
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Six Months Ended June 29, July 1, June 29, July 1, 2024 2023 2024 2023 Basic EPS Computation: Numerator: Net income (loss) $ (954,304 ) $ 600,503 $ (1,097,458 ) $ 1,059,704 Denominator: Weighted average Common shares Outstanding 14,519,215 14,493,970 14,519,215 14,473,128 Basic EPS $ (0.07 ) $ 0.04 $ (0.08 ) $ 0.07 Diluted EPS Computation: Numerator: Net income (loss) $ (954,304 ) $ 600,503 $ (1,097,458 ) $ 1,059,704 Denominator: Weighted average Common shares Outstanding 14,519,215 14,493,970 14,519,215 14,473,128 Dilutive effect of stock options - 127,959 - 157,637 Total Shares 14,519,215 14,621,929 14,519,215 14,630,765 Diluted EPS $ (0.07 ) $ 0.04 $ (0.08 ) $ 0.07

Note 6 - Commitments and Cont_2

Note 6 - Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 29, 2024
Notes Tables
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	(Dollars in Thousands) June 29, 2024 Maturity of capitalized lease liabilities Lease payments 2024 $ 83 2025 165 2026 28 Total undiscounted operating lease payments $ 276 Less: Imputed interest (15 ) Present value of operating lease liability $ 261 Balance Sheet Classification Current lease liability $ 160 Long-term lease liability 101 Total operating lease liability $ 261 Other Information Remaining lease term for capitalized operating lease (months) 20 Discount rate for capitalized operating leases 6.6 %

Note 8 - Inventories (Tables)

Note 8 - Inventories (Tables)	6 Months Ended
	Jun. 29, 2024
Notes Tables
Schedule of Inventory, Current [Table Text Block]	June 29, December 30, 2024 2023 Raw materials $ 2,567,758 $ 2,861,333 Work in process 1,579,991 1,493,582 Finished goods 393,889 537,975 Total inventory 4,541,638 4,892,890 Reserve for obsolescence (419,960 ) (310,960 ) Inventories, net $ 4,121,678 $ 4,581,930

Note 9 - Accrued Expenses (Tabl

Note 9 - Accrued Expenses (Tables)	6 Months Ended
	Jun. 29, 2024
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	June 29, December 30, 2024 2023 Accrued legal and accounting $ 67,846 $ 86,000 Accrued payroll and related expenses 246,953 649,201 Accrued product returns 288,000 288,000 Accrued other 69,054 51,936 $ 671,853 $ 1,075,137

Note 11 - Note Payable (Tables)

Note 11 - Note Payable (Tables)	6 Months Ended
	Jun. 29, 2024
Notes Tables
Schedule of Maturities of Long-Term Debt [Table Text Block]	Remaining in: Payments due by period FY 2024 $ 23,795 FY 2025 $ 8,090 Total 31,885

Note 4 - Fair Value of Market_3

Note 4 - Fair Value of Marketable Securities (Details Textual)	Jun. 29, 2024 USD ($)
Investments, Fair Value Disclosure	$ 758,701

Note 4 - Fair Value of Market_4

Note 4 - Fair Value of Marketable Securities - Marketable Securities Purchased (Details)	6 Months Ended
	Jun. 29, 2024 USD ($)
Cost basis	$ 750,000
Unrealized gain	8,701
Total fair value	$ 758,701

Note 5 - Net Income Per Commo_3

Note 5 - Net Income Per Common and Common Equivalent Share (Details Textual) - shares	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Weighted Average Number of Shares Outstanding, Diluted, Adjustment (in shares)	0	127,959	0	157,637
Scenario, Plan [Member]
Weighted Average Number of Shares Outstanding, Diluted, Adjustment (in shares)	29,254

Note 5 - Net Income Per Commo_4

Note 5 - Net Income Per Common and Common Equivalent Share - Table of Both Basic and Diluted EPS (Details) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 29, 2024	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Basic EPS Computation:
Net income (loss)	$ (954,304)	$ (954,304)	$ 600,503	$ (1,097,458)	$ 1,059,704
Outstanding (in shares)		14,519,215	14,493,970	14,519,215	14,473,128
Basic EPS (in dollars per share)		$ (0.07)	$ 0.04	$ (0.08)	$ 0.07
Diluted EPS Computation:
Net income (loss)	$ (954,304)	$ (954,304)	$ 600,503	$ (1,097,458)	$ 1,059,704
Outstanding (in shares)		14,519,215	14,493,970	14,519,215	14,473,128
Dilutive effect of stock options (in shares)		0	127,959	0	157,637
Total Shares (in shares)		14,519,215	14,621,929	14,519,215	14,630,765
Diluted EPS (in dollars per share)		$ (0.07)	$ 0.04	$ (0.08)	$ 0.07

Note 6 - Commitments and Cont_3

Note 6 - Commitments and Contingencies (Details Textual) ft² in Thousands, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 29, 2024 USD ($) ft²	Jun. 29, 2024 USD ($) ft²
Area of Real Estate Property (Square Foot) | ft²	38	38
Norton Facility [Member]
Operating Lease, Expense	$ 41	$ 82
Minimum [Member]
Lessee, Operating Lease, Annual Rent Payments		160
Maximum [Member]
Lessee, Operating Lease, Annual Rent Payments		$ 165

Note 6 - Commitments & Continge

Note 6 - Commitments & Contingencies - Maturity of Capitalized Lease Liabilities (Details) - USD ($)	Jun. 29, 2024	Dec. 30, 2023
2024	$ 83,000
2025	165,000
2026	28,000
Total undiscounted operating lease payments	276,000
Less: Imputed interest	(15,000)
Present value of operating lease liability	261,000
Current lease liability	160,000	$ 160,000
Long-term lease liability	101,000	$ 172,000
Total operating lease liability	$ 261,000
Remaining lease term for capitalized operating lease (months) (Month)	20 months
Discount rate for capitalized operating leases	6.60%

Note 7 - Share-based Payments (

Note 7 - Share-based Payments (Details Textual) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares)	0		79,000	0	86,001
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price (in dollars per share)			$ 1.2		$ 1.22
Stock Repurchased During Period, Shares (in shares)	0		24,642	0	24,927
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares)	1,097,900			1,097,900
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 2.61			$ 2.61
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year)	6 years 9 months 21 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Number (in shares)	610,000			610,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 2.45			$ 2.45
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term (Year)	5 years 1 month 2 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares)	1,500,000			1,500,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 648			$ 648
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)				2 years 11 months 4 days
Share-Based Payment Arrangement, Expensed and Capitalized, Amount	$ 44,480	$ 17,316		$ 205,442	$ 147,757
The 2020 Equity Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)	638,300			638,300
The 2009 Stock Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares)	236,200			236,200
Employees [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares)	0	60,000
Outside Directors [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares)	0	0
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price (in dollars per share)		$ 2.66

Note 8 - Inventories - Inventor

Note 8 - Inventories - Inventories (Details) - USD ($)	Jun. 29, 2024	Dec. 30, 2023
Raw materials	$ 2,567,758	$ 2,861,333
Work in process	1,579,991	1,493,582
Finished goods	393,889	537,975
Total inventory	4,541,638	4,892,890
Reserve for obsolescence	(419,960)	(310,960)
Inventories, net	$ 4,121,678	$ 4,581,930

Note 9 - Accrued Expenses - Acc

Note 9 - Accrued Expenses - Accrued Expenses (Details) - USD ($)	Jun. 29, 2024	Dec. 30, 2023
Accrued legal and accounting	$ 67,846	$ 86,000
Accrued payroll and related expenses	246,953	649,201
Accrued product returns	288,000	288,000
Accrued other	69,054	51,936
Accounts Payable and Accrued Liabilities, Current	$ 671,853	$ 1,075,137

Note 10 - Line of Credit (Detai

Note 10 - Line of Credit (Details Textual) - Revolving Credit Facility [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 29, 2024	May 01, 2023	May 31, 2020
Massachusetts Business Development Corporation [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 3,000
Long-term Line of Credit, Total	$ 0
Line of Credit Facility, Remaining Borrowing Capacity	$ 3,000
Rockland Trust Company [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 3,000
Line of Credit Facility, Interest Rate During Period	8.50%

Note 11 - Note Payable (Details

Note 11 - Note Payable (Details Textual) - USD ($)		1 Months Ended	6 Months Ended
	Sep. 30, 2019	Mar. 31, 2020	Jun. 29, 2024
Interest Expense, Debt			$ 1,465
Massachusetts Business Development Corporation [Member] | Revolving Credit Facility [Member]
Debt Instrument, Termination Period (Year)	3 years
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%
Sonoscan Ultrasound Microscope [Member]
Property, Plant and Equipment, Gross, Ending Balance		$ 208,000

Note 11 - Note Payable - Note P

Note 11 - Note Payable - Note Payable Maturities (Details)	Jun. 29, 2024 USD ($)
FY 2024	$ 23,795
FY 2025	8,090
Total	$ 31,885

Note 12 - Income Taxes (Details

Note 12 - Income Taxes (Details Textual) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 29, 2024	Jun. 29, 2024
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ 40,256	$ 307,576