Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Mar. 30, 2019 | May 31, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | TECHNICAL COMMUNICATIONS CORP | |
Entity Central Index Key | 0000096699 | |
Trading Symbol | tcco | |
Current Fiscal Year End Date | --09-28 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 1,850,403 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Entity Shell Company | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Mar. 30, 2019 | Sep. 29, 2018 |
Current Assets: | ||
Cash and cash equivalents | $ 1,765,352 | $ 1,982,434 |
Accounts receivable - trade | 201,844 | 532,493 |
Inventories, net | 1,042,580 | 1,368,696 |
Other current assets | 136,721 | 142,279 |
Total current assets | 3,229,454 | 4,052,902 |
Equipment and leasehold improvements | 4,578,501 | 4,578,501 |
Less:accumulated depreciation and amortization | (4,545,073) | (4,529,298) |
Equipment and leasehold improvements, net | 33,428 | 49,203 |
Total Assets | 3,262,882 | 4,102,105 |
Current Liabilities: | ||
Accounts payable | 248,333 | 187,958 |
Deferred revenue | 1,248,659 | 2,106,514 |
Accrued liabilities: | ||
Accrued compensation and related expenses | 251,972 | 220,544 |
Customer deposits | 655 | 35,628 |
Other current liabilities | 37,607 | 18,405 |
Total current liabilities | 1,787,225 | 2,569,049 |
Commitments and contingencies | ||
Stockholders’ Equity: | ||
Common stock, par value $0.10 per share; 7,000,000 shares authorized; 1,850,403 shares issued and outstanding at March 30, 2019 and September 29, 2018 | 185,041 | 185,041 |
Additional paid-in capital | 4,151,955 | 4,134,371 |
Accumulated deficit | (2,861,339) | (2,786,356) |
Total stockholders’ equity | 1,475,657 | 1,533,056 |
Total Liabilities and Stockholders’ Equity | $ 3,262,882 | $ 4,102,105 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Mar. 30, 2019 | Sep. 29, 2018 |
Common stock, par value (in dollars per share) | $ 0.10 | $ 0.10 |
Common stock, authorized (in shares) | 7,000,000 | 7,000,000 |
Common stock, issued (in shares) | 1,850,403 | 1,850,403 |
Common stock, outstanding (in shares) | 1,850,403 | 1,850,403 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Mar. 30, 2019 | Mar. 31, 2018 | Mar. 30, 2019 | Mar. 31, 2018 | |
Net revenue | $ 1,928,468 | $ 803,966 | $ 3,040,813 | $ 1,640,495 |
Cost of revenue | 1,129,236 | 560,885 | 1,842,157 | 1,105,743 |
Gross profit | 799,232 | 243,081 | 1,198,656 | 534,752 |
Selling, general and administrative | 595,271 | 530,981 | 1,139,932 | 990,955 |
Product development | 36,326 | 152,727 | 143,694 | 318,236 |
Total operating expenses | 631,597 | 683,708 | 1,283,626 | 1,309,191 |
Operating income (loss) | 167,635 | (440,627) | (84,970) | (774,439) |
Interest income | 4,972 | 1,701 | 9,986 | 3,483 |
Net income (loss) | $ 172,607 | $ (438,926) | $ (74,984) | $ (770,956) |
Basic (in dollars per share) | $ 0.09 | $ (0.24) | $ (0.04) | $ (0.42) |
Diluted (in dollars per share) | $ 0.09 | $ (0.24) | $ (0.04) | $ (0.42) |
Basic (in shares) | 1,850,403 | 1,848,215 | 1,850,403 | 1,844,046 |
Diluted (in shares) | 1,850,403 | 1,848,215 | 1,850,403 | 1,844,046 |
Operating loss | $ 167,635 | $ (440,627) | $ (84,970) | $ (774,439) |
Engineering Services [Member] | ||||
Net revenue | 877,080 | 774,354 | 1,867,519 | 1,394,290 |
Cost of revenue | 703,500 | 484,856 | 1,331,500 | 851,356 |
Equipment Sales [Member] | ||||
Net revenue | 1,051,388 | 29,612 | 1,173,294 | 246,205 |
Cost of revenue | $ 425,736 | $ 76,029 | $ 510,657 | $ 254,387 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Mar. 30, 2019 | Mar. 31, 2018 | |
Operating Activities: | ||
Net loss | $ (74,984) | $ (770,956) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
Depreciation and amortization | 15,775 | 28,582 |
Stock-based compensation | 17,584 | 10,380 |
Amortization of premium on held to maturity securities | 7,770 | |
Payment of tax on exercise of stock options | (33,870) | |
Changes in certain operating assets and liabilities: | ||
Accounts receivable | 274,692 | 414,078 |
Inventories | 326,116 | (116,361) |
Other current assets | 5,558 | (3,960) |
Customer deposits | (34,973) | (4,780) |
Deferred revenue | (857,855) | 405,710 |
Accounts payable and other accrued liabilities | 111,005 | (4,382) |
Net cash used in operating activities | (217,082) | (67,789) |
Investing Activities: | ||
Additions to equipment and leasehold improvements | (38,179) | |
Proceeds from maturities of marketable securities | 250,000 | |
Net cash provided by investing activities | 211,821 | |
Net (decrease) increase in cash, cash equivalents and restricted cash | (217,082) | 144,032 |
Cash, cash equivalents and restricted cash at beginning of the period | 1,982,434 | 1,296,603 |
Cash, cash equivalents and restricted cash at end of the period | 1,765,352 | 1,440,635 |
Non-cash financing activities: | ||
Exercise of stock options – cashless | $ 915 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance (in shares) at Sep. 30, 2017 | 1,839,877 | |||
Cashless exercise of stock options (in shares) | 9,148 | |||
Ending balance (in shares) at Mar. 31, 2018 | 1,849,025 | |||
Beginning balance at Sep. 30, 2017 | $ 183,988 | $ 4,139,002 | $ (1,306,757) | |
Cashless exercise of stock options | 915 | |||
Exercise of stock options | (915) | |||
Cashless exercise of stock options to pay taxes | (33,870) | |||
Stock-based compensation | 10,380 | |||
Net loss | (770,956) | $ (770,956) | ||
Ending balance at Mar. 31, 2018 | $ 184,903 | 4,114,597 | (2,077,713) | 2,705,908 |
Beginning balance (in shares) at Dec. 30, 2017 | 1,839,877 | |||
Cashless exercise of stock options (in shares) | 9,148 | |||
Ending balance (in shares) at Mar. 31, 2018 | 1,849,025 | |||
Beginning balance at Dec. 30, 2017 | $ 183,988 | 4,143,179 | (1,638,787) | |
Cashless exercise of stock options | 915 | |||
Exercise of stock options | (915) | |||
Cashless exercise of stock options to pay taxes | (33,870) | |||
Stock-based compensation | 6,203 | |||
Net loss | (438,926) | (438,926) | ||
Ending balance at Mar. 31, 2018 | $ 184,903 | 4,114,597 | (2,077,713) | 2,705,908 |
Beginning balance (in shares) at Sep. 29, 2018 | 1,850,403 | |||
Cashless exercise of stock options (in shares) | ||||
Ending balance (in shares) at Mar. 30, 2019 | 1,850,403 | |||
Beginning balance at Sep. 29, 2018 | $ 185,041 | 4,134,371 | (2,786,356) | 1,533,056 |
Cashless exercise of stock options | ||||
Exercise of stock options | ||||
Cashless exercise of stock options to pay taxes | ||||
Stock-based compensation | 17,584 | |||
Net loss | (74,984) | (74,984) | ||
Ending balance at Mar. 30, 2019 | $ 185,041 | 4,151,955 | (2,861,339) | 1,475,657 |
Beginning balance (in shares) at Dec. 29, 2018 | 1,850,403 | |||
Cashless exercise of stock options (in shares) | ||||
Ending balance (in shares) at Mar. 30, 2019 | 1,850,403 | |||
Beginning balance at Dec. 29, 2018 | $ 185,041 | 4,143,171 | (3,033,946) | |
Cashless exercise of stock options | ||||
Exercise of stock options | ||||
Cashless exercise of stock options to pay taxes | ||||
Stock-based compensation | 8,784 | |||
Net loss | 172,607 | 172,607 | ||
Ending balance at Mar. 30, 2019 | $ 185,041 | $ 4,151,955 | $ (2,861,339) | $ 1,475,657 |
Note 1 - Description of the Bus
Note 1 - Description of the Business and Basis of Presentation | 6 Months Ended |
Mar. 30, 2019 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1. Description of the Business and Basis of Presentation Company Operations Technical Communications Corporation (“TCC”) was incorporated in Massachusetts in 1961; 1982. one Interim Financial Statements The accompanying unaudited consolidated financial statements of Technical Communications Corporation and its wholly-owned subsidiary (collectively the “Company” or “TCC”) include all adjustments which are, in the opinion of management, necessary for a fair presentation of the financial position and results of operations for the periods presented and in order to make the financial statements not not September 28, 2019. The September 29, 2018 September 29, 2018 10 September 29, 2018 September 29, 2018 10 June 21, 2019. The Company restated its consolidated financial statements as of and for the three six March 31, 2018 10 June 21, 2019; three six March 31, 2018 10 The Company follows accounting standards set by the Financial Accounting Standards Board, commonly referred to as the FASB. The FASB sets generally accepted accounting principles (“GAAP”) that the Company follows to ensure it consistently reports its financial condition, results of operations, and cash flows. References to GAAP issued by the FASB in these footnotes are to the FASB Accounting Standards Codification TM Liquidity and Ability to Continue as a Going Concern The Company has suffered recurring losses from operations and had an accumulated deficit of $2,861,000 March 30, 2019. one not The Company anticipates that its principal sources of liquidity will only be sufficient to fund activities to January 2020. In order to have sufficient capital resources to fund operations, the Company has been working diligently to secure several large orders with new and existing customers. In addition, the Company is also pursuing raising capital through equity or debt arrangements. Although the Company believes its ability to secure such new business or raise new capital is likely, the Company cannot provide assurances it will be able to do so. Should the Company be unsuccessful in these efforts, it would then be forced to implement headcount reductions, employee furloughs and/or reduced hours for certain employees or cease operations completely. Reporting Period The Company’s by-laws call for its fiscal year to end on the Saturday closest to the last day of September, Basis of Presentation The accompanying unaudited consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All significant intercompany accounts and transactions have been eliminated in consolidation. The discussion and analysis of the Company’s financial condition and results of operations are based on the unaudited consolidated financial statements, which have been prepared in accordance with GAAP. The preparation of these unaudited consolidated financial statements requires management to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported revenues and expenses during the reporting periods. On an ongoing basis, management evaluates its estimates and judgments, including but not not may |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies and Significant Judgments and Estimates | 6 Months Ended |
Mar. 30, 2019 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | NOTE 2. Summary of Significant Accounting Policies and Significant Judgments and Estimates The accounting policies that management believes are most critical to aid in fully understanding and evaluating the reported financial results include the following: Accounting Standards Recently Adopted - Revenue In May 2014, No. 2014 09, Revenue from Contracts with Customers (Topic 606 606, 606”. 606 On September 30, 2018, 606 September 30, 2018 606, not 605, Revenue Recognition. The adoption of ASC 606 not three six March 30, 2019 not 606 not 3 606. The Company’s products consist of communications security solutions for critical voice, data and video networks for military, government and corporate/industrial applications. The Company derives revenue primarily from the sale of secure communications equipment and the provision of long-term engineering services. The Company’s typical contracts with customers do not Revenue for long-term contracts of engineering services is generally recognized based upon the cost-to-cost measure of progress, provided appropriately reflects the value to the customer. Equipment sales revenue is recognized when control of the promised products is transferred to the Company’s customer, in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those products or services (the transaction price). For product sales, control transfers to the customer at a point in time. To indicate the transfer of control, the Company must have a present right to payment, legal title must have passed to the customer, the customer must have the significant risks and rewards of ownership and, where acceptance is not not not Costs to Obtain and Fulfill a Contract The guidance in FASB ASC 340 40, Other Assets and Deferred Costs – Contracts with Customers 606. Inventories The Company values its inventory at the lower of cost (based on the first first may Accounts Receivable Accounts receivable are reduced by an allowance for amounts that may no may In addition, if the Company becomes aware of a customer’s inability to meet its financial obligations, a specific write-off is recorded in that amount. Accounting for Income Taxes The preparation of the unaudited consolidated financial statements requires management to estimate income taxes in each of the jurisdictions in which the Company operates, including those outside the United States, which may not not Significant management judgment is required in determining the provision for income taxes, deferred tax assets and liabilities, and any valuation allowance recorded against deferred tax assets. At March 30, 2019 September 29, 2018, $4.0 may The Company follows FASB ASC 740 10, Income Taxes not Due to the nature of the Company’s current operations in foreign countries (selling products into these countries with the assistance of local representatives), the Company has not not Fair Value Measurements In determining fair value measurements, the Company follows the provisions of FASB ASC 820, Fair Value Measurements and Disclosures 820 three March 30, 2019 September 29, 2018, The three Level 1 Pricing inputs are quoted prices available in active markets for identical assets or liabilities as of the measurement date. Level 2 Pricing inputs are quoted prices for similar assets or liabilities, or inputs that are observable, either directly or indirectly, for substantially the full term through corroboration with observable market data. Level 3 Pricing inputs are unobservable for the assets or liabilities, that is, inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. In certain cases, the inputs used to measure fair value may The Company’s available for sale securities consist of mutual funds held in money market funds in a brokerage account, which are classified as cash equivalents and measured at fair value. The Company historically also has had held to maturity securities, comprised of investments in municipal bonds and carried at amortized cost, although TCC did not March 30, 2019 September 29, 2018. The Company assesses the levels of the investments at each measurement date, and transfers between levels are recognized on the actual date of the event or change in circumstances that caused the transfer in accordance with the Company’s accounting policy regarding the recognition of transfers between levels of the fair value hierarchy. During the six March 30, 2019 September 29, 2018, no The following table sets forth by level, within the fair value hierarchy, the assets measured at fair value on a recurring basis as of March 30, 2019 September 29, 2018, March 30, 2019 September 29, 2018, not 2 3. Total Quoted Prices in March 30, 2019 Cash Equivalents Mutual funds: Money market funds $ 1,029,418 $ 1,029,418 Total mutual funds 1,029,418 1,029,418 Total assets $ 1,029,418 $ 1,029,418 September 29, 2018 Cash Equivalents Mutual funds: Money market funds $ 1,020,039 $ 1,020,039 Total mutual funds 1,020,039 1,020,039 Total assets $ 1,020,039 $ 1,020,039 There were no March 30, 2019 September 29, 2018. Stock-Based Compensation Stock-based compensation cost is measured at the grant date based on the calculated fair value of the award. The expense is recognized over the participant’s requisite service period, generally the vesting period of the award. The related excess tax benefit received upon the exercise of stock options, if any, is reflected in the Company’s statement of cash flows as a financing activity. There were no three six March 30, 2019 March 31, 2018. The Company uses the Black-Scholes option pricing model as the method for determining the estimated fair value of its stock awards. The Black-Scholes method of valuation requires several assumptions: ( 1 2 3 4 The expected term represents the expected period of time the Company believes the options will be outstanding based on historical information. Estimates of expected future stock price volatility are based on the historic volatility of the Company’s common stock, and the risk free interest rate is based on the U.S. Treasury Note rate. The Company utilizes a forfeiture rate based on an analysis of its actual experience. The forfeiture rate is not no three six March 30, 2019 March 31, 2018. The following table summarizes stock-based compensation costs included in the Company’s consolidated statements of operations for the three six March 30, 2019 March 31, 2018: March 30, 2019 March 31, 2018 3 months 6 months 3 months 6 months Selling, general and administrative expenses $ 7,587 15,183 $ 5,851 9,756 Product development expenses 1,197 2,401 352 624 Total share-based compensation expense before taxes $ 8,784 $ 17,584 $ 6,203 $ 10,380 As of March 30, 2019, $99,089 March 30, 2019 3.4 The Technical Communications Corporation 2005 2010 March 30, 2019. 600,000 215,137 March 30, 2019. zero five ten As of March 30, 2019, 224,563 2010 2005 no The following table summarizes stock option activity during the first six 2019: Options Outstanding Number of Shares Weighted Average Weighted Average Unvested Vested Total Exercise Price (in years) Outstanding, September 29, 2018 44,700 182,437 227,137 $ 8.50 3.76 Grants - - - Vested - - - Exercises - - - Cancellations/forfeitures - (3,500 ) (3,500 ) 4.95 Outstanding, December 29, 2018 44,700 178,937 223,637 $ 8.50 3.51 Grants - - - Vested (6,300 ) 6,300 - Exercises - - - Cancellations/forfeitures - (8,500 ) (8,500 ) 4.92 Outstanding, March 30, 2019 38,400 176,737 215,137 $ 8.70 3.45 Information related to the stock options vested and expected to vest as of March 30, 2019 Range of Number of Weighted-Average Weighted Exercisable Exercisable $2.01 - $ 3.00 25,200 7.65 $ 2.69 9,800 $ 2.73 $3.01 - $4.00 6,000 9.60 3.80 1,200 3.80 $4.01 - $5.00 18,500 5.16 4.31 12,500 4.41 $5.01 - $ 10.00 51,000 4.80 7.80 38,800 7.96 $10.01 - $ 15.00 114,437 1.76 11.40 114,437 11.40 215,137 3.45 $ 8.70 176,737 $ 9.56 The aggregate intrinsic value of the Company’s “in-the-money” outstanding and exercisable options as of March 30, 2019 March 31, 2018 $0 $34,795, New Accounting Pronouncements ASU No. 2016 02, In February 2016, December 15, 2018, and believes that the most notable impact to the financial statements upon adoption will be the recognition of a right-of-use asset and a lease liability for the Company’s leased real 2020. Other recent accounting pronouncements were issued by the FASB (including its Emerging Issues Task Force) and the SEC during the first six 2019 not |
Note 3 - Revenue
Note 3 - Revenue | 6 Months Ended |
Mar. 30, 2019 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE 3. Revenue The following table presents the Company’s revenues disaggregated by revenue type for the three six March 30, 2019 March 31, 2018: March 30, 2019 March 31, 2018 3 months 6 months 3 months 6 months Engineering services $ 876,636 $ 1,867,074 $ 774,354 $ 1,394,290 Equipment sales 1,051,832 1,173,739 29,612 246,205 Total $ 1,928,468 $ 3,040,813 $ 803,966 $ 1,640,495 Engineering services revenue consists of funded research and development and technology development for commercial companies and government agencies primarily under fixed-price contracts. The Company also derives revenue from developing and designing custom cryptographic solutions for customers’ unique secure voice, data and video communications requirements and integrating such solutions into existing systems. These contracts can vary but typically call for fixed monthly payments or payments due upon meeting certain milestones. Customers are billed monthly or upon achieving the milestone and payments are due on a net basis after the billing date. Equipment sales revenue consists of sales of communications security equipment for voice, data and video networks for military, government and corporate/industrial applications. Equipment sales are billed to the customer upon shipment with typical payment terms requiring a down payment at the time of order with the balance due prior to shipment. For government and certain long term customers, we may Remaining Performance Obligations Remaining performance obligations represent the aggregate transaction price allocated to performance obligations with an original contract term greater than one one As of March 30, 2019, $1,195,763. six Contract Balances The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables (contract assets) and deferred revenue, customer deposits and billings in excess of revenue recognized (contract liabilities) on the consolidated balance sheets. Contract assets may March 30, 2019 September 29, 2018 $201,844 $532,493, six March 30, 2019 no three six March 30, 2019. Contract liabilities March 30, 2019 606 September 30, 2018, $1,248,659 $2,106,514, $1,867,519 six March 30, 2019 September 29, 2018. three March 30, 2019 |
Note 4 - Inventories
Note 4 - Inventories | 6 Months Ended |
Mar. 30, 2019 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 4. Inventories Inventories consisted of the following: March 30, 2019 September 29, 2018 Finished goods $ - $ - Work in process 41,379 356,278 Raw materials 1,001,201 1,012,418 $ 1,042,580 $ 1,368,696 |
Note 5 - Income Taxes
Note 5 - Income Taxes | 6 Months Ended |
Mar. 30, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 5. Income Taxes The Company has not six March 30, 2019 March 31, 2018 not On December 22, 2017, 35% 21%, January 1, 2018. no 10 |
Note 6 - Loss Per Share
Note 6 - Loss Per Share | 6 Months Ended |
Mar. 30, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 6. Loss Per Share Outstanding potentially dilutive stock options, which were not 215,137 March 30, 2019 246,781 March 31, 2018. |
Note 7 - Major Customers and Ex
Note 7 - Major Customers and Export Sales | 6 Months Ended |
Mar. 30, 2019 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | NOTE 7. Major Customers and Export Sales During the three March 30, 2019, two 94% 49% 45%, three March 31, 2018, one 97% six March 30, 2019, two 92% 61% 31%, six March 31, 2018, one 86% A breakdown of foreign and domestic net revenue for first three six 2019 2018 March 30, 2019 March 31, 2018 3 months 6 months 3 months 6 months Domestic $ 1,821,788 $ 2,844,465 $ 803,966 $ 1,511,437 Foreign 106,680 196,348 - 129,058 Total net revenue $ 1,928,468 $ 3,040,813 $ 803,966 $ 1,640,495 The Company sold products into two three March 30, 2019 no three March 31, 2018. three six March 30, 2019 four six March 31, 2018. may March 30, 2019 March 31, 2018 3 months 6 months 3 months 6 months Philippines - 5 % - 54 % Saudi Arabia 31 % 57 % - 27 % Jordan - - - 10 % Egypt 69 % 38 % - 9 % A summary of foreign revenue, as a percentage of total foreign revenue by geographic area, is as follows: March 30, 2019 March 31, 2018 3 months 6 months 3 months 6 months Mid-East and Africa 100 % 95 % - 46 % Far East - 5 % - 54 % |
Note 8 - Cash Equivalents and M
Note 8 - Cash Equivalents and Marketable Securities | 6 Months Ended |
Mar. 30, 2019 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | NOTE 8. Cash Equivalents and Marketable Securities The Company considers all highly liquid instruments with an original maturity of three 320, Investments—Debt and Equity Securities. one Available for sale securities are carried at fair value, with unrealized holding gains and losses reported in stockholders’ equity as a separate component of accumulated other comprehensive income (loss). Held to maturity securities, of which there were none March 30, 2019 September 29, 2018, As of March 30, 2019, Gross Unrealized Estimated Cost Gains Losses Fair Value Money market mutual funds $ 1,029,418 $ - $ - $ 1,029,418 As of September 29, 2018, Gross Unrealized Estimated Cost Gains Losses Fair Value Money market mutual funds $ 1,020,039 $ - $ - $ 1,020,039 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Mar. 30, 2019 | |
Accounting Policies [Abstract] | |
Revenue from Contract with Customer [Policy Text Block] | Accounting Standards Recently Adopted - Revenue In May 2014, No. 2014 09, Revenue from Contracts with Customers (Topic 606 606, 606”. 606 On September 30, 2018, 606 September 30, 2018 606, not 605, Revenue Recognition. The adoption of ASC 606 not three six March 30, 2019 not 606 not 3 606. The Company’s products consist of communications security solutions for critical voice, data and video networks for military, government and corporate/industrial applications. The Company derives revenue primarily from the sale of secure communications equipment and the provision of long-term engineering services. The Company’s typical contracts with customers do not Revenue for long-term contracts of engineering services is generally recognized based upon the cost-to-cost measure of progress, provided appropriately reflects the value to the customer. Equipment sales revenue is recognized when control of the promised products is transferred to the Company’s customer, in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those products or services (the transaction price). For product sales, control transfers to the customer at a point in time. To indicate the transfer of control, the Company must have a present right to payment, legal title must have passed to the customer, the customer must have the significant risks and rewards of ownership and, where acceptance is not not not Costs to Obtain and Fulfill a Contract The guidance in FASB ASC 340 40, Other Assets and Deferred Costs – Contracts with Customers 606. |
Inventory, Policy [Policy Text Block] | Inventories The Company values its inventory at the lower of cost (based on the first first may |
Receivable [Policy Text Block] | Accounts Receivable Accounts receivable are reduced by an allowance for amounts that may no may In addition, if the Company becomes aware of a customer’s inability to meet its financial obligations, a specific write-off is recorded in that amount. |
Income Tax, Policy [Policy Text Block] | Accounting for Income Taxes The preparation of the unaudited consolidated financial statements requires management to estimate income taxes in each of the jurisdictions in which the Company operates, including those outside the United States, which may not not Significant management judgment is required in determining the provision for income taxes, deferred tax assets and liabilities, and any valuation allowance recorded against deferred tax assets. At March 30, 2019 September 29, 2018, $4.0 may The Company follows FASB ASC 740 10, Income Taxes not Due to the nature of the Company’s current operations in foreign countries (selling products into these countries with the assistance of local representatives), the Company has not not |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value Measurements In determining fair value measurements, the Company follows the provisions of FASB ASC 820, Fair Value Measurements and Disclosures 820 three March 30, 2019 September 29, 2018, The three Level 1 Pricing inputs are quoted prices available in active markets for identical assets or liabilities as of the measurement date. Level 2 Pricing inputs are quoted prices for similar assets or liabilities, or inputs that are observable, either directly or indirectly, for substantially the full term through corroboration with observable market data. Level 3 Pricing inputs are unobservable for the assets or liabilities, that is, inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. In certain cases, the inputs used to measure fair value may The Company’s available for sale securities consist of mutual funds held in money market funds in a brokerage account, which are classified as cash equivalents and measured at fair value. The Company historically also has had held to maturity securities, comprised of investments in municipal bonds and carried at amortized cost, although TCC did not March 30, 2019 September 29, 2018. The Company assesses the levels of the investments at each measurement date, and transfers between levels are recognized on the actual date of the event or change in circumstances that caused the transfer in accordance with the Company’s accounting policy regarding the recognition of transfers between levels of the fair value hierarchy. During the six March 30, 2019 September 29, 2018, no The following table sets forth by level, within the fair value hierarchy, the assets measured at fair value on a recurring basis as of March 30, 2019 September 29, 2018, March 30, 2019 September 29, 2018, not 2 3. Total Quoted Prices in March 30, 2019 Cash Equivalents Mutual funds: Money market funds $ 1,029,418 $ 1,029,418 Total mutual funds 1,029,418 1,029,418 Total assets $ 1,029,418 $ 1,029,418 September 29, 2018 Cash Equivalents Mutual funds: Money market funds $ 1,020,039 $ 1,020,039 Total mutual funds 1,020,039 1,020,039 Total assets $ 1,020,039 $ 1,020,039 There were no March 30, 2019 September 29, 2018. |
Compensation Related Costs, Policy [Policy Text Block] | Stock-Based Compensation Stock-based compensation cost is measured at the grant date based on the calculated fair value of the award. The expense is recognized over the participant’s requisite service period, generally the vesting period of the award. The related excess tax benefit received upon the exercise of stock options, if any, is reflected in the Company’s statement of cash flows as a financing activity. There were no three six March 30, 2019 March 31, 2018. The Company uses the Black-Scholes option pricing model as the method for determining the estimated fair value of its stock awards. The Black-Scholes method of valuation requires several assumptions: ( 1 2 3 4 The expected term represents the expected period of time the Company believes the options will be outstanding based on historical information. Estimates of expected future stock price volatility are based on the historic volatility of the Company’s common stock, and the risk free interest rate is based on the U.S. Treasury Note rate. The Company utilizes a forfeiture rate based on an analysis of its actual experience. The forfeiture rate is not no three six March 30, 2019 March 31, 2018. The following table summarizes stock-based compensation costs included in the Company’s consolidated statements of operations for the three six March 30, 2019 March 31, 2018: March 30, 2019 March 31, 2018 3 months 6 months 3 months 6 months Selling, general and administrative expenses $ 7,587 15,183 $ 5,851 9,756 Product development expenses 1,197 2,401 352 624 Total share-based compensation expense before taxes $ 8,784 $ 17,584 $ 6,203 $ 10,380 As of March 30, 2019, $99,089 March 30, 2019 3.4 The Technical Communications Corporation 2005 2010 March 30, 2019. 600,000 215,137 March 30, 2019. zero five ten As of March 30, 2019, 224,563 2010 2005 no The following table summarizes stock option activity during the first six 2019: Options Outstanding Number of Shares Weighted Average Weighted Average Unvested Vested Total Exercise Price (in years) Outstanding, September 29, 2018 44,700 182,437 227,137 $ 8.50 3.76 Grants - - - Vested - - - Exercises - - - Cancellations/forfeitures - (3,500 ) (3,500 ) 4.95 Outstanding, December 29, 2018 44,700 178,937 223,637 $ 8.50 3.51 Grants - - - Vested (6,300 ) 6,300 - Exercises - - - Cancellations/forfeitures - (8,500 ) (8,500 ) 4.92 Outstanding, March 30, 2019 38,400 176,737 215,137 $ 8.70 3.45 Information related to the stock options vested and expected to vest as of March 30, 2019 Range of Number of Weighted-Average Weighted Exercisable Exercisable $2.01 - $ 3.00 25,200 7.65 $ 2.69 9,800 $ 2.73 $3.01 - $4.00 6,000 9.60 3.80 1,200 3.80 $4.01 - $5.00 18,500 5.16 4.31 12,500 4.41 $5.01 - $ 10.00 51,000 4.80 7.80 38,800 7.96 $10.01 - $ 15.00 114,437 1.76 11.40 114,437 11.40 215,137 3.45 $ 8.70 176,737 $ 9.56 The aggregate intrinsic value of the Company’s “in-the-money” outstanding and exercisable options as of March 30, 2019 March 31, 2018 $0 $34,795, |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Pronouncements ASU No. 2016 02, In February 2016, December 15, 2018, and believes that the most notable impact to the financial statements upon adoption will be the recognition of a right-of-use asset and a lease liability for the Company’s leased real 2020. Other recent accounting pronouncements were issued by the FASB (including its Emerging Issues Task Force) and the SEC during the first six 2019 not |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies and Significant Judgments and Estimates (Tables) | 6 Months Ended |
Mar. 30, 2019 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Total Quoted Prices in March 30, 2019 Cash Equivalents Mutual funds: Money market funds $ 1,029,418 $ 1,029,418 Total mutual funds 1,029,418 1,029,418 Total assets $ 1,029,418 $ 1,029,418 September 29, 2018 Cash Equivalents Mutual funds: Money market funds $ 1,020,039 $ 1,020,039 Total mutual funds 1,020,039 1,020,039 Total assets $ 1,020,039 $ 1,020,039 |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | March 30, 2019 March 31, 2018 3 months 6 months 3 months 6 months Selling, general and administrative expenses $ 7,587 15,183 $ 5,851 9,756 Product development expenses 1,197 2,401 352 624 Total share-based compensation expense before taxes $ 8,784 $ 17,584 $ 6,203 $ 10,380 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Options Outstanding Number of Shares Weighted Average Weighted Average Unvested Vested Total Exercise Price (in years) Outstanding, September 29, 2018 44,700 182,437 227,137 $ 8.50 3.76 Grants - - - Vested - - - Exercises - - - Cancellations/forfeitures - (3,500 ) (3,500 ) 4.95 Outstanding, December 29, 2018 44,700 178,937 223,637 $ 8.50 3.51 Grants - - - Vested (6,300 ) 6,300 - Exercises - - - Cancellations/forfeitures - (8,500 ) (8,500 ) 4.92 Outstanding, March 30, 2019 38,400 176,737 215,137 $ 8.70 3.45 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block] | Range of Number of Weighted-Average Weighted Exercisable Exercisable $2.01 - $ 3.00 25,200 7.65 $ 2.69 9,800 $ 2.73 $3.01 - $4.00 6,000 9.60 3.80 1,200 3.80 $4.01 - $5.00 18,500 5.16 4.31 12,500 4.41 $5.01 - $ 10.00 51,000 4.80 7.80 38,800 7.96 $10.01 - $ 15.00 114,437 1.76 11.40 114,437 11.40 215,137 3.45 $ 8.70 176,737 $ 9.56 |
Note 3 - Revenue (Tables)
Note 3 - Revenue (Tables) | 6 Months Ended |
Mar. 30, 2019 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | March 30, 2019 March 31, 2018 3 months 6 months 3 months 6 months Engineering services $ 877,080 $ 1,867,519 $ 774,354 $ 1,394,290 Equipment sales 1,051,388 1,173,294 29,612 246,205 Total $ 1,928,468 $ 3,040,813 $ 803,966 $ 1,640,495 |
Note 4 - Inventories (Tables)
Note 4 - Inventories (Tables) | 6 Months Ended |
Mar. 30, 2019 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | March 30, 2019 September 29, 2018 Finished goods $ - $ - Work in process 41,379 356,278 Raw materials 1,001,201 1,012,418 $ 1,042,580 $ 1,368,696 |
Note 7 - Major Customers and _2
Note 7 - Major Customers and Export Sales (Tables) | 6 Months Ended |
Mar. 30, 2019 | |
Notes Tables | |
Revenue from External Customers by Geographic Areas [Table Text Block] | March 30, 2019 March 31, 2018 3 months 6 months 3 months 6 months Domestic $ 1,821,788 $ 2,844,465 $ 803,966 $ 1,511,437 Foreign 106,680 196,348 - 129,058 Total net revenue $ 1,928,468 $ 3,040,813 $ 803,966 $ 1,640,495 |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | March 30, 2019 March 31, 2018 3 months 6 months 3 months 6 months Philippines - 5 % - 54 % Saudi Arabia 31 % 57 % - 27 % Jordan - - - 10 % Egypt 69 % 38 % - 9 % March 30, 2019 March 31, 2018 3 months 6 months 3 months 6 months Mid-East and Africa 100 % 95 % - 46 % Far East - 5 % - 54 % |
Note 8 - Cash Equivalents and_2
Note 8 - Cash Equivalents and Marketable Securities (Tables) | 6 Months Ended |
Mar. 30, 2019 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | Gross Unrealized Estimated Cost Gains Losses Fair Value Money market mutual funds $ 1,029,418 $ - $ - $ 1,029,418 Gross Unrealized Estimated Cost Gains Losses Fair Value Money market mutual funds $ 1,020,039 $ - $ - $ 1,020,039 |
Note 1 - Description of the B_2
Note 1 - Description of the Business and Basis of Presentation (Details Textual) - USD ($) | Mar. 30, 2019 | Sep. 29, 2018 |
Retained Earnings (Accumulated Deficit), Ending Balance | $ (2,861,339) | $ (2,786,356) |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies and Significant Judgments and Estimates (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Mar. 30, 2019 | Dec. 29, 2018 | Mar. 31, 2018 | Mar. 30, 2019 | Mar. 31, 2018 | Sep. 29, 2018 | |
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 0 | $ 0 | $ 0 | |||
Deferred Tax Assets, Valuation Allowance, Total | 4,000,000 | 4,000,000 | 4,000,000 | |||
Debt Securities, Held-to-maturity, Total | 0 | 0 | 0 | |||
Share-based Payment Arrangement, Expense, Tax Benefit | $ 0 | $ 0 | $ 0 | $ 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 0 | 0 | 0 | ||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 99,089 | $ 99,089 | ||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 3 years 146 days | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 600,000 | 600,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 215,137 | 215,137 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 0 | $ 34,795 | $ 0 | $ 34,795 | ||
Equity Incentive Plan 2010 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 224,563 | 224,563 | ||||
Non-Statutory Stock Option Plan 2005 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 0 | 0 | ||||
Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 0 years | |||||
Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |||||
Fair Value, Nonrecurring [Member] | ||||||
Assets, Fair Value Disclosure | $ 0 | $ 0 | 0 | |||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | 0 | 0 | |||
Fair Value, Inputs, Level 2 [Member] | ||||||
Assets, Fair Value Disclosure | 0 | 0 | 0 | |||
Fair Value, Inputs, Level 3 [Member] | ||||||
Assets, Fair Value Disclosure | $ 0 | $ 0 | $ 0 |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies and Significant Judgments and Estimates - Assets Measured at Fair Value on Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) | Mar. 30, 2019 | Sep. 29, 2018 |
Cash Equivalents | $ 1,029,418 | $ 1,020,039 |
Total assets | 1,029,418 | 1,020,039 |
Fair Value, Inputs, Level 1 [Member] | ||
Cash Equivalents | 1,029,418 | 1,020,039 |
Total assets | 1,029,418 | 1,020,039 |
Money Market Funds [Member] | ||
Cash Equivalents | 1,029,418 | 1,020,039 |
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash Equivalents | $ 1,029,418 | $ 1,020,039 |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies and Significant Judgments and Estimates - Stock-based Compensation Costs (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Mar. 30, 2019 | Mar. 31, 2018 | Mar. 30, 2019 | Mar. 31, 2018 | |
Total stock-based compensation expense before taxes | $ 8,784 | $ 6,203 | $ 17,584 | $ 10,380 |
Selling, General and Administrative Expenses [Member] | ||||
Total stock-based compensation expense before taxes | 7,587 | 5,851 | 15,183 | 9,756 |
Product Development Expenses [Member] | ||||
Total stock-based compensation expense before taxes | $ 1,197 | $ 352 | $ 2,401 | $ 624 |
Note 2 - Summary of Significa_6
Note 2 - Summary of Significant Accounting Policies and Significant Judgments and Estimates - Stock Option Activity (Details) - $ / shares | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Mar. 30, 2019 | Dec. 29, 2018 | Mar. 31, 2018 | Mar. 30, 2019 | Mar. 31, 2018 | Sep. 29, 2018 | |
Outstanding, unvested (in shares) | 44,700 | 44,700 | 44,700 | |||
Outstanding, vested (in shares) | 178,937 | 182,437 | 182,437 | |||
Outstanding (in shares) | 223,637 | 227,137 | 227,137 | |||
Outstanding, weighted average exercise price (in dollars per share) | $ 8.50 | $ 8.50 | $ 8.50 | |||
Outstanding, weighted average contractual life (Year) | 3 years 164 days | 3 years 186 days | 3 years 277 days | |||
Grants, unvested (in shares) | 0 | 0 | 0 | 0 | ||
Grants, vested (in shares) | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 0 | 0 | 0 | ||
Grants, weighted average exercise price (in dollars per share) | ||||||
Vested, unvested (in shares) | (6,300) | |||||
Vested, vested (in shares) | 6,300 | |||||
Vested, weighted average exercise price (in dollars per share) | ||||||
Exercises, unvested (in shares) | ||||||
Exercises, vested (in shares) | ||||||
Exercises (in shares) | ||||||
Exercises, weighted average exercise price (in dollars per share) | ||||||
Cancellations/forfeitures, unvested (in shares) | ||||||
Cancellations/forfeitures, vested (in shares) | 8,500 | (3,500) | ||||
Cancellations/forfeitures (in shares) | (8,500) | (3,500) | ||||
Cancellations/forfeitures, weighted average exercise price (in dollars per share) | $ 4.92 | $ 4.95 | ||||
Exercises, vested (in shares) | ||||||
Cancellations/forfeitures, vested (in shares) | (8,500) | 3,500 | ||||
Outstanding, unvested (in shares) | 38,400 | 44,700 | 38,400 | 44,700 | ||
Outstanding, vested (in shares) | 176,737 | 178,937 | 176,737 | 182,437 | ||
Outstanding (in shares) | 215,137 | 223,637 | 215,137 | 227,137 | ||
Outstanding, weighted average exercise price (in dollars per share) | $ 8.70 | $ 8.50 | $ 8.70 | $ 8.50 |
Note 2 - Summary of Significa_7
Note 2 - Summary of Significant Accounting Policies and Significant Judgments and Estimates - Stock Options Vested and Expected to Vest (Details) | 6 Months Ended |
Mar. 30, 2019$ / sharesshares | |
Number of shares (in shares) | shares | 215,137 |
Weighted-average remaining contractual life (Year) | 3 years 164 days |
Weighted average exercise price (in dollars per share) | $ 8.70 |
Exercisable number of shares (in shares) | shares | 176,737 |
Exercisable weighted- average exercise price (in dollars per share) | $ 9.56 |
Range One [Member] | |
Range of exercise prices, lower (in dollars per share) | 2.01 |
Range of exercise prices, upper (in dollars per share) | $ 3 |
Number of shares (in shares) | shares | 25,200 |
Weighted-average remaining contractual life (Year) | 7 years 237 days |
Weighted average exercise price (in dollars per share) | $ 2.69 |
Exercisable number of shares (in shares) | shares | 9,800 |
Exercisable weighted- average exercise price (in dollars per share) | $ 2.73 |
Range Two [Member] | |
Range of exercise prices, lower (in dollars per share) | 3.01 |
Range of exercise prices, upper (in dollars per share) | $ 4 |
Number of shares (in shares) | shares | 6,000 |
Weighted-average remaining contractual life (Year) | 9 years 219 days |
Weighted average exercise price (in dollars per share) | $ 3.80 |
Exercisable number of shares (in shares) | shares | 1,200 |
Exercisable weighted- average exercise price (in dollars per share) | $ 3.80 |
Range Three [Member] | |
Range of exercise prices, lower (in dollars per share) | 4.01 |
Range of exercise prices, upper (in dollars per share) | $ 5 |
Number of shares (in shares) | shares | 18,500 |
Weighted-average remaining contractual life (Year) | 5 years 58 days |
Weighted average exercise price (in dollars per share) | $ 4.31 |
Exercisable number of shares (in shares) | shares | 12,500 |
Exercisable weighted- average exercise price (in dollars per share) | $ 4.41 |
Range Four [Member] | |
Range of exercise prices, lower (in dollars per share) | 5.01 |
Range of exercise prices, upper (in dollars per share) | $ 10 |
Number of shares (in shares) | shares | 51,000 |
Weighted-average remaining contractual life (Year) | 4 years 292 days |
Weighted average exercise price (in dollars per share) | $ 7.80 |
Exercisable number of shares (in shares) | shares | 38,800 |
Exercisable weighted- average exercise price (in dollars per share) | $ 7.96 |
Range Five [Member] | |
Range of exercise prices, lower (in dollars per share) | 10.01 |
Range of exercise prices, upper (in dollars per share) | $ 15 |
Number of shares (in shares) | shares | 114,437 |
Weighted-average remaining contractual life (Year) | 1 year 277 days |
Weighted average exercise price (in dollars per share) | $ 11.40 |
Exercisable number of shares (in shares) | shares | 114,437 |
Exercisable weighted- average exercise price (in dollars per share) | $ 11.40 |
Note 3 - Revenue 1 (Details Tex
Note 3 - Revenue 1 (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Mar. 30, 2019 | Mar. 31, 2018 | Mar. 30, 2019 | Mar. 31, 2018 | Sep. 30, 2018 | Sep. 29, 2018 | |
Accounts Receivable, after Allowance for Credit Loss, Current, Total | $ 201,844 | $ 201,844 | $ 532,493 | |||
Contract with Customer, Liability, Current | 1,248,659 | 1,248,659 | $ 2,106,514 | $ 2,106,514 | ||
Revenue from Contract with Customer, Including Assessed Tax | 1,928,468 | $ 803,966 | 3,040,813 | $ 1,640,495 | ||
Engineering Services [Member] | ||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 877,080 | $ 774,354 | $ 1,867,519 | $ 1,394,290 |
Note 3 - Revenue 2 (Details Tex
Note 3 - Revenue 2 (Details Textual) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-03-31 | Mar. 30, 2019USD ($) |
Revenue, Remaining Performance Obligation, Amount | $ 1,195,763 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 180 days |
Note 3 - Revenue - Disaggregati
Note 3 - Revenue - Disaggregation By Revenue (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Mar. 30, 2019 | Mar. 31, 2018 | Mar. 30, 2019 | Mar. 31, 2018 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 1,928,468 | $ 803,966 | $ 3,040,813 | $ 1,640,495 |
Engineering Services [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 877,080 | 774,354 | 1,867,519 | 1,394,290 |
Equipment Sales [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 1,051,388 | $ 29,612 | $ 1,173,294 | $ 246,205 |
Note 4 - Inventories - Schedule
Note 4 - Inventories - Schedule of Inventory (Details) - USD ($) | Mar. 30, 2019 | Sep. 29, 2018 |
Finished goods | ||
Work in process | 41,379 | 356,278 |
Raw materials | 1,001,201 | 1,012,418 |
$ 1,042,580 | $ 1,368,696 |
Note 5 - Income Taxes (Details
Note 5 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Dec. 30, 2017 | Mar. 30, 2019 | Mar. 31, 2018 | |
Income Tax Expense (Benefit), Total | $ 0 | $ 0 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | 21.00% |
Note 6 - Loss Per Share (Detail
Note 6 - Loss Per Share (Details Textual) - shares | 6 Months Ended | |
Mar. 30, 2019 | Mar. 31, 2018 | |
Share-based Payment Arrangement, Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 215,137 | 246,781 |
Note 7 - Major Customers and _3
Note 7 - Major Customers and Export Sales (Details Textual) | 3 Months Ended | 6 Months Ended | ||
Mar. 30, 2019 | Mar. 31, 2018 | Mar. 30, 2019 | Mar. 31, 2018 | |
Number of Countries in Which Products are Sold | 2 | 0 | 3 | 4 |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | ||||
Number of Major Customers | 2 | 1 | 2 | 1 |
Concentration Risk, Percentage | 94.00% | 92.00% | ||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | One Customer [Member] | ||||
Concentration Risk, Percentage | 49.00% | 97.00% | 61.00% | 86.00% |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Two Customer [Member] | ||||
Concentration Risk, Percentage | 45.00% | 31.00% |
Note 7 - Major Customers and _4
Note 7 - Major Customers and Export Sales - Foreign and Domestic Net Sales (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Mar. 30, 2019 | Mar. 31, 2018 | Mar. 30, 2019 | Mar. 31, 2018 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 1,928,468 | $ 803,966 | $ 3,040,813 | $ 1,640,495 |
Domestic [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 1,821,788 | 803,966 | 2,844,465 | 1,511,437 |
Foreign [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 106,680 | $ 196,348 | $ 129,058 |
Note 7 - Major Customers and _5
Note 7 - Major Customers and Export Sales - Foreign Revenue (Details) | 3 Months Ended | 6 Months Ended | ||
Mar. 30, 2019 | Mar. 31, 2018 | Mar. 30, 2019 | Mar. 31, 2018 | |
PHILIPPINES | ||||
Foreign revenue by country | 5.00% | 54.00% | ||
Mid-East and Africa [Member] | ||||
Foreign revenue by geographical area | 100.00% | 95.00% | 46.00% | |
SAUDI ARABIA | ||||
Foreign revenue by country | 31.00% | 57.00% | 27.00% | |
Far East [Member] | ||||
Foreign revenue by geographical area | 5.00% | 54.00% | ||
JORDAN | ||||
Foreign revenue by country | 10.00% | |||
EGYPT | ||||
Foreign revenue by country | 69.00% | 38.00% | 9.00% |
Note 8 - Cash Equivalents and_3
Note 8 - Cash Equivalents and Marketable Securities (Details Textual) - USD ($) | Mar. 30, 2019 | Sep. 29, 2018 |
Debt Securities, Held-to-maturity, Total | $ 0 | $ 0 |
Note 8 - Cash Equivalents and_4
Note 8 - Cash Equivalents and Marketable Securities - Available for Sale Securities (Details) - Money Market Funds [Member] - USD ($) | Mar. 30, 2019 | Sep. 29, 2018 |
Available for sale, cost | $ 1,029,418 | $ 1,020,039 |
Available for sale, gains | ||
Available for sale, losses | ||
Available for sale, estimated fair value | $ 1,029,418 | $ 1,020,039 |