Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Jun. 27, 2020 | Aug. 07, 2020 | |
Document Information [Line Items] | ||
Entity Registrant Name | TECHNICAL COMMUNICATIONS CORP | |
Entity Central Index Key | 0000096699 | |
Trading Symbol | tcco | |
Current Fiscal Year End Date | --10-03 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 1,850,403 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Jun. 27, 2020 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Title of 12(b) Security | Common |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 27, 2020 | Sep. 28, 2019 |
Current Assets: | ||
Cash and cash equivalents | $ 960,549 | $ 1,593,395 |
Accounts receivable - trade | 49,619 | 125,923 |
Inventories, net | 1,136,695 | 1,042,212 |
Other current assets | 148,424 | 118,250 |
Total current assets | 2,295,287 | 2,879,780 |
Equipment and leasehold improvements | 4,591,756 | 4,591,756 |
Less: accumulated depreciation and amortization | (4,570,610) | (4,554,275) |
Equipment and leasehold improvements, net | 21,146 | 37,481 |
Operating lease right-of-use asset | 595,946 | |
Total Assets | 2,912,379 | 2,917,261 |
Current Liabilities: | ||
Current operating lease liabilities | 150,829 | |
Accounts payable | 90,196 | 355,158 |
Customer deposits | 561,609 | 2,046 |
Deferred income | 474,400 | |
Accrued liabilities: | ||
Accrued compensation and related expenses | 205,303 | 238,171 |
Accrued commissions | 32,462 | 84,804 |
Other current liabilities | 15,455 | 17,533 |
Total current liabilities | 1,530,254 | 697,712 |
Long-term operating lease liabilities | 445,117 | |
Total liabilities | 1,975,371 | 697,712 |
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 June 27, 2020 and September 28, 2019 | 185,041 | 185,041 |
Additional paid-in capital | 4,231,116 | 4,189,439 |
Accumulated deficit | (3,479,149) | (2,154,931) |
Total stockholders’ equity | 937,008 | 2,219,549 |
Total Liabilities and Stockholders’ Equity | $ 2,912,379 | $ 2,917,261 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Jun. 27, 2020 | Sep. 28, 2019 |
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 | 9 Months Ended | ||
Jun. 27, 2020 | Jun. 29, 2019 | Jun. 27, 2020 | Jun. 29, 2019 | |
Net revenue | $ 598,730 | $ 1,234,662 | $ 1,987,406 | $ 4,275,475 |
Cost of revenue | 243,766 | 789,350 | 1,014,798 | 2,631,507 |
Gross profit | 354,964 | 445,312 | 972,608 | 1,643,968 |
Operating expenses: | ||||
Selling, general and administrative | 505,358 | 731,728 | 1,602,729 | 1,871,659 |
Product development | 332,167 | 43,092 | 694,552 | 186,785 |
Total operating expenses | 837,525 | 774,820 | 2,297,281 | 2,058,444 |
Operating loss | (482,561) | (329,508) | (1,324,673) | (414,476) |
Other income: | ||||
Interest income | 83 | 3,543 | 455 | 13,528 |
Net loss | $ (482,478) | $ (325,965) | $ (1,324,218) | $ (400,948) |
Net loss per common share: | ||||
Basic (in dollars per share) | $ (0.26) | $ (0.18) | $ (0.72) | $ (0.22) |
Diluted (in dollars per share) | $ (0.26) | $ (0.18) | $ (0.72) | $ (0.22) |
Weighted average shares: | ||||
Basic (in shares) | 1,850,403 | 1,850,403 | 1,850,403 | 1,850,403 |
Diluted (in shares) | 1,850,403 | 1,850,403 | 1,850,403 | 1,850,403 |
Net revenue | $ 598,730 | $ 1,234,662 | $ 1,987,406 | $ 4,275,475 |
Cost of revenue | 243,766 | 789,350 | 1,014,798 | 2,631,507 |
Gross profit | $ 354,964 | $ 445,312 | $ 972,608 | $ 1,643,968 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Jun. 27, 2020 | Jun. 29, 2019 | |
Operating Activities: | ||
Net loss | $ (1,324,218) | $ (400,948) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 16,335 | 21,498 |
Stock-based compensation | 41,677 | 43,080 |
Changes in certain operating assets and liabilities: | ||
Accounts receivable | 76,304 | 515,135 |
Inventories | (94,483) | 286,358 |
Other current assets | (30,174) | 19,465 |
Customer deposits | 559,563 | (14,546) |
Deferred revenue | (1,768,575) | |
Accounts payable and other accrued liabilities | (352,250) | 97,106 |
Net cash used in operating activities | (1,107,246) | (1,201,427) |
Investing Activities: | ||
Additions to equipment and leasehold improvements | (16,221) | |
Net cash used in investing activities | (16,221) | |
Financing Activities: | ||
Proceeds from debt | 474,400 | |
Net cash provided by financing activities | 474,400 | |
Net decrease in cash and cash equivalents | (632,846) | (1,217,648) |
Cash and cash equivalents at beginning of the period | 1,593,395 | 1,982,434 |
Cash and cash equivalents at end of the period | 960,549 | 764,786 |
Supplemental Disclosures: | ||
Income taxes paid | $ 912 | $ 856 |
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. 29, 2018 | 1,850,403 | |||
Ending balance (in shares) at Jun. 29, 2019 | 1,850,403 | |||
Beginning balance at Sep. 29, 2018 | $ 185,041 | $ 4,134,371 | $ (2,786,356) | |
Stock-based compensation | 43,080 | |||
Net income (loss) | (400,948) | $ (400,948) | ||
Ending balance at Jun. 29, 2019 | $ 185,041 | 4,177,451 | (3,187,304) | 1,175,188 |
Beginning balance (in shares) at Mar. 30, 2019 | 1,850,403 | |||
Ending balance (in shares) at Jun. 29, 2019 | 1,850,403 | |||
Beginning balance at Mar. 30, 2019 | $ 185,041 | 4,151,955 | (2,861,339) | |
Stock-based compensation | 25,496 | |||
Net income (loss) | (325,965) | (325,965) | ||
Ending balance at Jun. 29, 2019 | $ 185,041 | 4,177,451 | (3,187,304) | 1,175,188 |
Beginning balance (in shares) at Sep. 28, 2019 | 1,850,403 | |||
Ending balance (in shares) at Jun. 27, 2020 | 1,850,403 | |||
Beginning balance at Sep. 28, 2019 | $ 185,041 | 4,189,439 | (2,154,931) | 2,219,549 |
Stock-based compensation | 41,677 | |||
Net income (loss) | (1,324,218) | (1,324,218) | ||
Ending balance at Jun. 27, 2020 | $ 185,041 | 4,231,116 | (3,479,149) | 937,008 |
Beginning balance (in shares) at Mar. 28, 2020 | 1,850,403 | |||
Ending balance (in shares) at Jun. 27, 2020 | 1,850,403 | |||
Beginning balance at Mar. 28, 2020 | $ 185,041 | 4,216,190 | (2,996,671) | |
Stock-based compensation | 14,926 | |||
Net income (loss) | (482,478) | (482,478) | ||
Ending balance at Jun. 27, 2020 | $ 185,041 | $ 4,231,116 | $ (3,479,149) | $ 937,008 |
Note 1 - Description of the Bus
Note 1 - Description of the Business and Basis of Presentation | 9 Months Ended |
Jun. 27, 2020 | |
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 115 Interim Financial Statements The accompanying unaudited consolidated financial statements of Technical Communications Corporation and its wholly-owned subsidiary 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 26, 2020. The September 28, 2019 September 28, 2019 10 September 28, 2019 September 28, 2019 10 “2019 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 $3,479,000 June 27, 2020. one not The Company anticipates that its principal sources of liquidity will only be sufficient to fund activities to December 2020. On April 17, 2020, $474,400 two 1% six eight eight twenty four In order to have sufficient capital resources to fund operations beyond the temporary relief provided by the CARES Act loan, the Company has been working diligently to secure several large orders with new and existing customers. The receipt of orders is difficult to predict due to the impact of the COVID- 19 June 2020 The Company is also pursuing raising debt or equity capital but cannot provide assurances it will be able to do so on terms acceptable to the Company or at all, especially in light of the tightening of the credit markets and volatility of the capital markets as a result of the coronavirus. Should the Company be unsuccessful in these efforts, it would 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 TCC 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 | 9 Months Ended |
Jun. 27, 2020 | |
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 Company's significant accounting policies are described in “Note 2. 2019 10 2019 Recently Adopted Accounting Standards Leases Effective September 29, 2019, No. 2016 02, Leases 842 842” not ASC 842 100 $767,712 September 29, 2019. 842 not 6. SBA Payroll Protection Program loan During the quarter ended June 26, 2020 20 Accounting for Government Grants and Disclosure of Government Assistance 20” 20 1 2 |
Note 3 - Stock-based Compensati
Note 3 - Stock-based Compensation | 9 Months Ended |
Jun. 27, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | NOTE 3. Stock-Based Compensation The following table summarizes stock-based compensation costs included in the Company's consolidated statements of operations for the third first nine 2020 2019: June 27, 2020 June 29, 2019 3 months 9 months 3 months 9 months Selling, general and administrative expenses $ 11,243 32,486 $ 24,461 39,644 Product development expenses 3,683 9,191 1,035 3,436 Total share-based compensation expense before taxes $ 14,926 $ 41,677 $ 25,496 $ 43,080 As of June 27, 2020, $166,333 June 27, 2020, 3.34 As of June 27, 2020, 176,830 2010 2010 July 29, 2020 no 2005 no 2005 The following table summarizes stock option activity during the first nine 2020: Options Outstanding Number of Shares Weighted Average Weighted Average Unvested Vested Total Exercise Price (in years) Outstanding, September 28, 2019 59,400 171,937 231,337 $ 8.36 3.95 Grants 20,000 – 20,000 1.87 9.94 Vested – – – Cancellations/forfeitures – (13,837 ) (13,837 ) 11.51 Outstanding, December 28, 2019 79,400 158,100 237,500 $ 7.28 4.45 Grants – – – – – Vested (6,300 ) 6,300 – 4.22 Cancellations/forfeitures – (7,000 ) (7,000 ) 7.02 Outstanding, March 28, 2020 73,100 157,400 230,500 $ 7.28 4.33 Grants 14,000 – 14,000 2.48 – Vested (14,200 ) 14,200 – 3.17 Cancellations/forfeitures – (3,130 ) (3,130 ) 11.51 Outstanding, June 27, 2020 72,900 168,470 241,370 $ 6.95 4.47 Information related to the stock options vested and expected to vest as of June 27, 2020 Range of Number of Weighted-Average Weighted Exercisable Exercisable $1.01 - $2.00 20,000 9.44 $ 1.87 4,000 $ 1.87 $2.01 - $3.00 34,300 7.66 2.61 14,000 2.72 $3.01 - $4.00 46,500 8.78 3.61 16,500 3.61 $4.01 - $5.00 16,600 3.99 4.34 16,300 4.33 $5.01 - $10.00 30,000 4.35 7.92 23,700 8.10 $10.01 - $15.00 93,970 0.24 11.43 93,970 11.43 241,370 4.47 $ 6.95 168,470 $ 8.55 The aggregate intrinsic value of the Company's “in-the-money” outstanding and exercisable options as of June 27, 2020 June 29, 2019 $10,960 $15,390, |
Note 4 - Revenue
Note 4 - Revenue | 9 Months Ended |
Jun. 27, 2020 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE 4. Revenue The following table presents the Company's revenues disaggregated by revenue type for the three nine June 27, 2020 June 29, 2019. Revenue type: June 27, 2020 June 29, 2019 3 months 9 months 3 months 9 months Engineering services $ 46,804 $ 913,446 $ 952,602 $ 2,819,676 Equipment sales 551,926 1,073,960 282,060 1,455,799 Total $ 598,730 $ 1,987,406 $ 1,234,662 $ 4,275,475 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, facsimile 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 |
Note 5 - Inventories
Note 5 - Inventories | 9 Months Ended |
Jun. 27, 2020 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 5. Inventories Inventories consisted of the following: June 27, September 28, Finished goods $ 75,289 $ 120,726 Work in process 391,630 182,863 Raw materials 669,776 738,623 Total inventory, net $ 1,136,695 $ 1,042,212 |
Note 6 - Leases
Note 6 - Leases | 9 Months Ended |
Jun. 27, 2020 | |
Notes to Financial Statements | |
Leases of Lessee Disclosure [Text Block] | NOTE 6. Leases The Company leases space from a third five March 31, 2019 $171,000. two one September 30, 2021 two one March 31, 2024 $171,000. September 2018, September 2021. March 1, 2021. three nine June 27, 2020 June 29, 2019 $43,000 $128,000, The table below presents the maturity of the Company's operating lease liability as of June 27, 2020: July - September 2020 $ 42,650 2021 170,603 2022 170,603 2023 170,603 2024 85,301 Total lease payments 639,760 Less: Imputed interest (43,814 ) Total lease liability $ 595,946 |
Note 7 - Debt
Note 7 - Debt | 9 Months Ended |
Jun. 27, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 7. Debt On April 17, 2020, was granted a loan (the “Loan”) from bankHometown in the principal amount of $474,400, 2.5 The Loan, which was in the form of a Note dated April 17, 2020, eighteen 1% monthly commencing on October 17, 2020 not may no may February 15, 2020. |
Note 8 - Income Taxes
Note 8 - Income Taxes | 9 Months Ended |
Jun. 27, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 8. Income Taxes The Company has not nine June 27, 2020 June 29, 2019 not |
Note 9 - Loss Per Share
Note 9 - Loss Per Share | 9 Months Ended |
Jun. 27, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 9. Loss Per Share Outstanding potentially dilutive stock options, which were not 241,370 June 27, 2020 231,337 June 29, 2019. |
Note 10 - Major Customers and E
Note 10 - Major Customers and Export Sales | 9 Months Ended |
Jun. 27, 2020 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | NOTE 10. Major Customers and Export Sales During the three June 27, 2020, three 92% 53%, 25% 14%, three June 29, 2019, two 99% 77% 22%, nine June 27, 2020, two 68% 46% 22%, nine June 29, 2019, two 88% 66% 22%, A breakdown of foreign and domestic net revenue for the first three nine 2020 2019 June 27, 2020 June 29, 2019 3 months 9 months 3 months 9 months Domestic $ 512,455 $ 1,500,502 $ 1,232,187 $ 4,076,652 Foreign 86,275 486,904 2,475 198,823 Total net revenue $ 598,730 $ 1,987,406 $ 1,234,662 $ 4,275,475 The Company sold products into one three June 27, 2020 June 29, 2019. two nine June 27, 2020 four nine June 29, 2019. may The table below summarizes foreign revenues by country as a percentage of total foreign revenue. June 27, 2020 June 29, 2019 3 months 9 months 3 months 9 months Saudi Arabia 100 % 99 % – 57 % Egypt – – – 37 % Philippines – – – 5 % Other – 1 % 100 % 1 % A summary of foreign revenue, as a percentage of total foreign revenue by geographic area, is as follows: June 27, 2020 June 29, 2019 3 months 9 months 3 months 9 months Mid-East and Africa 100 % 100 % 100 % 95 % Far East – – – 5 % |
Note 11 - Cash Equivalents
Note 11 - Cash Equivalents | 9 Months Ended |
Jun. 27, 2020 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | NOTE 11. Cash Equivalents The Company considers all highly liquid instruments with an original maturity of three |
Note 12 - Impact of COVID-19 Co
Note 12 - Impact of COVID-19 Coronavirus | 9 Months Ended |
Jun. 27, 2020 | |
Notes to Financial Statements | |
Effect of Covid-19 Pandemic [Text Block] | NOTE 12. Impact of COVID- 19 As a result of the current economic slowdown due to the COVID- 19 not June 2020. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Jun. 27, 2020 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Standards Leases Effective September 29, 2019, No. 2016 02, Leases 842 842” not ASC 842 100 $767,712 September 29, 2019. 842 not 6. SBA Payroll Protection Program loan During the quarter ended June 26, 2020 20 Accounting for Government Grants and Disclosure of Government Assistance 20” 20 1 2 |
Note 3 - Stock-based Compensa_2
Note 3 - Stock-based Compensation (Tables) | 9 Months Ended |
Jun. 27, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | June 27, 2020 June 29, 2019 3 months 9 months 3 months 9 months Selling, general and administrative expenses $ 11,243 32,486 $ 24,461 39,644 Product development expenses 3,683 9,191 1,035 3,436 Total share-based compensation expense before taxes $ 14,926 $ 41,677 $ 25,496 $ 43,080 |
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 28, 2019 59,400 171,937 231,337 $ 8.36 3.95 Grants 20,000 – 20,000 1.87 9.94 Vested – – – Cancellations/forfeitures – (13,837 ) (13,837 ) 11.51 Outstanding, December 28, 2019 79,400 158,100 237,500 $ 7.28 4.45 Grants – – – – – Vested (6,300 ) 6,300 – 4.22 Cancellations/forfeitures – (7,000 ) (7,000 ) 7.02 Outstanding, March 28, 2020 73,100 157,400 230,500 $ 7.28 4.33 Grants 14,000 – 14,000 2.48 – Vested (14,200 ) 14,200 – 3.17 Cancellations/forfeitures – (3,130 ) (3,130 ) 11.51 Outstanding, June 27, 2020 72,900 168,470 241,370 $ 6.95 4.47 |
Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block] | Range of Number of Weighted-Average Weighted Exercisable Exercisable $1.01 - $2.00 20,000 9.44 $ 1.87 4,000 $ 1.87 $2.01 - $3.00 34,300 7.66 2.61 14,000 2.72 $3.01 - $4.00 46,500 8.78 3.61 16,500 3.61 $4.01 - $5.00 16,600 3.99 4.34 16,300 4.33 $5.01 - $10.00 30,000 4.35 7.92 23,700 8.10 $10.01 - $15.00 93,970 0.24 11.43 93,970 11.43 241,370 4.47 $ 6.95 168,470 $ 8.55 |
Note 4 - Revenue (Tables)
Note 4 - Revenue (Tables) | 9 Months Ended |
Jun. 27, 2020 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | June 27, 2020 June 29, 2019 3 months 9 months 3 months 9 months Engineering services $ 46,804 $ 913,446 $ 952,602 $ 2,819,676 Equipment sales 551,926 1,073,960 282,060 1,455,799 Total $ 598,730 $ 1,987,406 $ 1,234,662 $ 4,275,475 |
Note 5 - Inventories (Tables)
Note 5 - Inventories (Tables) | 9 Months Ended |
Jun. 27, 2020 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | June 27, September 28, Finished goods $ 75,289 $ 120,726 Work in process 391,630 182,863 Raw materials 669,776 738,623 Total inventory, net $ 1,136,695 $ 1,042,212 |
Note 6 - Leases (Tables)
Note 6 - Leases (Tables) | 9 Months Ended |
Jun. 27, 2020 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | July - September 2020 $ 42,650 2021 170,603 2022 170,603 2023 170,603 2024 85,301 Total lease payments 639,760 Less: Imputed interest (43,814 ) Total lease liability $ 595,946 |
Note 10 - Major Customers and_2
Note 10 - Major Customers and Export Sales (Tables) | 9 Months Ended |
Jun. 27, 2020 | |
Notes Tables | |
Revenue from External Customers by Geographic Areas [Table Text Block] | June 27, 2020 June 29, 2019 3 months 9 months 3 months 9 months Domestic $ 512,455 $ 1,500,502 $ 1,232,187 $ 4,076,652 Foreign 86,275 486,904 2,475 198,823 Total net revenue $ 598,730 $ 1,987,406 $ 1,234,662 $ 4,275,475 |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | June 27, 2020 June 29, 2019 3 months 9 months 3 months 9 months Saudi Arabia 100 % 99 % – 57 % Egypt – – – 37 % Philippines – – – 5 % Other – 1 % 100 % 1 % June 27, 2020 June 29, 2019 3 months 9 months 3 months 9 months Mid-East and Africa 100 % 100 % 100 % 95 % Far East – – – 5 % |
Note 1 - Description of the B_2
Note 1 - Description of the Business and Basis of Presentation (Details Textual) - USD ($) | Apr. 17, 2020 | Jun. 27, 2020 | Jun. 29, 2019 | Sep. 28, 2019 |
Retained Earnings (Accumulated Deficit), Ending Balance | $ (3,479,149) | $ (2,154,931) | ||
Proceeds from Issuance of Long-term Debt, Total | $ 474,400 | |||
Paycheck Protection Program CARES Act [Member] | ||||
Proceeds from Issuance of Long-term Debt, Total | $ 474,400 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies and Significant Judgments and Estimates (Details Textual) - USD ($) | Jun. 27, 2020 | Sep. 29, 2019 |
Operating Lease, Right-of-Use Asset | $ 595,946 | |
Operating Lease, Liability, Total | $ 595,946 | |
Accounting Standards Update 2016-02 [Member] | ||
Operating Lease, Right-of-Use Asset | $ 767,712 | |
Operating Lease, Liability, Total | $ 767,712 |
Note 3 - Stock-based Compensa_3
Note 3 - Stock-based Compensation (Details Textual) - USD ($) | 9 Months Ended | |
Jun. 27, 2020 | Jun. 29, 2019 | |
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 166,333 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 10,960 | $ 15,390 |
Equity Incentive Plan 2010 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 176,830 | |
Non-Statutory Stock Option Plan 2005 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 0 | |
Share-based Payment Arrangement, Option [Member] | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 3 years 124 days |
Note 3 - Stock-based Compensa_4
Note 3 - Stock-based Compensation - Stock-based Compensation Costs (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jun. 27, 2020 | Jun. 29, 2019 | Jun. 27, 2020 | Jun. 29, 2019 | |
Stock-based compensation costs | $ 14,926 | $ 25,496 | $ 41,677 | $ 43,080 |
Selling, General and Administrative Expenses [Member] | ||||
Stock-based compensation costs | 11,243 | 24,461 | 32,486 | 39,644 |
Product Development Expenses [Member] | ||||
Stock-based compensation costs | $ 3,683 | $ 1,035 | $ 9,191 | $ 3,436 |
Note 3 - Stock-based Compensa_5
Note 3 - Stock-based Compensation - Stock Option Activity (Details) - $ / shares | 3 Months Ended | 12 Months Ended | ||
Jun. 27, 2020 | Mar. 28, 2020 | Dec. 28, 2019 | Sep. 28, 2019 | |
Unvested (in shares) | 73,100 | 79,400 | 59,400 | |
Vested (in shares) | 157,400 | 158,100 | 171,937 | |
Outstanding (in shares) | 230,500 | 237,500 | 231,337 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 7.28 | $ 7.28 | $ 8.36 | |
Outstanding, weighted average contractual life (Year) | 4 years 171 days | 4 years 120 days | 4 years 164 days | 3 years 346 days |
Grants (in shares) | 14,000 | 20,000 | ||
Grants (in shares) | 14,000 | 20,000 | ||
Grants, weighted average exercise price (in dollars per share) | $ 2.48 | $ 1.87 | ||
Grants, weighted average contractual life (Year) | 9 years 343 days | |||
Cancellations/forfeitures (in shares) | (3,130) | (7,000) | (13,837) | |
Cancellations/forfeitures (in shares) | (3,130) | (7,000) | (13,837) | |
Cancellations/forfeitures, weighted average exercise price (in dollars per share) | $ 11.51 | $ 7.02 | $ 11.51 | |
Vested (in shares) | (14,200) | (6,300) | ||
Vested, vested (in shares) | 14,200 | 6,300 | ||
Vested, weighted average exercise price (in dollars per share) | $ 3.17 | $ 4.22 | ||
Vested (in shares) | 168,470 | 157,400 | 158,100 | 171,937 |
Unvested (in shares) | 72,900 | 73,100 | 79,400 | 59,400 |
Outstanding (in shares) | 241,370 | 230,500 | 237,500 | 231,337 |
Outstanding, , weighted average exercise price (in dollars per share) | $ 6.95 | $ 7.28 | $ 7.28 | $ 8.36 |
Note 3 - Stock-based Compensa_6
Note 3 - Stock-based Compensation - Information Related to Stock Options (Details) - $ / shares | 9 Months Ended | |||
Jun. 27, 2020 | Mar. 28, 2020 | Dec. 28, 2019 | Sep. 28, 2019 | |
Number of shares (in shares) | 241,370 | |||
Weighted-average remaining contractual life (Year) | 4 years 171 days | |||
Weighted average exercise price (in dollars per share) | $ 6.95 | $ 7.28 | $ 7.28 | $ 8.36 |
Exercisable number of shares (in shares) | 168,470 | |||
Exercisable weighted-average exercise price (in dollars per share) | $ 8.55 | |||
Range 1 [Member] | ||||
Lower range limit (in dollars per share) | 1.01 | |||
Upper range limit (in dollars per share) | $ 2 | |||
Number of shares (in shares) | 20,000 | |||
Weighted-average remaining contractual life (Year) | 9 years 160 days | |||
Weighted average exercise price (in dollars per share) | $ 1.87 | |||
Exercisable number of shares (in shares) | 4,000 | |||
Exercisable weighted-average exercise price (in dollars per share) | $ 1.87 | |||
Range 2 [Member] | ||||
Lower range limit (in dollars per share) | 2.01 | |||
Upper range limit (in dollars per share) | $ 3 | |||
Number of shares (in shares) | 34,300 | |||
Weighted-average remaining contractual life (Year) | 7 years 240 days | |||
Weighted average exercise price (in dollars per share) | $ 2.61 | |||
Exercisable number of shares (in shares) | 14,000 | |||
Exercisable weighted-average exercise price (in dollars per share) | $ 2.72 | |||
Range 3 [Member] | ||||
Lower range limit (in dollars per share) | 3.01 | |||
Upper range limit (in dollars per share) | $ 4 | |||
Number of shares (in shares) | 46,500 | |||
Weighted-average remaining contractual life (Year) | 8 years 284 days | |||
Weighted average exercise price (in dollars per share) | $ 3.61 | |||
Exercisable number of shares (in shares) | 16,500 | |||
Exercisable weighted-average exercise price (in dollars per share) | $ 3.61 | |||
Range 4 [Member] | ||||
Lower range limit (in dollars per share) | 4.01 | |||
Upper range limit (in dollars per share) | $ 5 | |||
Number of shares (in shares) | 16,600 | |||
Weighted-average remaining contractual life (Year) | 3 years 361 days | |||
Weighted average exercise price (in dollars per share) | $ 4.34 | |||
Exercisable number of shares (in shares) | 16,300 | |||
Exercisable weighted-average exercise price (in dollars per share) | $ 4.33 | |||
Range 5 [Member] | ||||
Lower range limit (in dollars per share) | 5.01 | |||
Upper range limit (in dollars per share) | $ 10 | |||
Number of shares (in shares) | 30,000 | |||
Weighted-average remaining contractual life (Year) | 4 years 127 days | |||
Weighted average exercise price (in dollars per share) | $ 7.92 | |||
Exercisable number of shares (in shares) | 23,700 | |||
Exercisable weighted-average exercise price (in dollars per share) | $ 8.10 | |||
Range 6 [Member] | ||||
Lower range limit (in dollars per share) | 10.01 | |||
Upper range limit (in dollars per share) | $ 15 | |||
Number of shares (in shares) | 93,970 | |||
Weighted-average remaining contractual life (Year) | 87 days | |||
Weighted average exercise price (in dollars per share) | $ 11.43 | |||
Exercisable number of shares (in shares) | 93,970 | |||
Exercisable weighted-average exercise price (in dollars per share) | $ 11.43 |
Note 4 - Revenue - Disaggregati
Note 4 - Revenue - Disaggregation By Revenue (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jun. 27, 2020 | Jun. 29, 2019 | Jun. 27, 2020 | Jun. 29, 2019 | |
Net revenue | $ 598,730 | $ 1,234,662 | $ 1,987,406 | $ 4,275,475 |
Engineering Services [Member] | ||||
Net revenue | 46,804 | 952,602 | 913,446 | 2,819,676 |
Equipment Sales [Member] | ||||
Net revenue | $ 551,926 | $ 282,060 | $ 1,073,960 | $ 1,455,799 |
Note 5 - Inventories - Schedule
Note 5 - Inventories - Schedule of Inventory (Details) - USD ($) | Jun. 27, 2020 | Sep. 28, 2019 |
Finished goods | $ 75,289 | $ 120,726 |
Work in process | 391,630 | 182,863 |
Raw materials | 669,776 | 738,623 |
Total inventory, net | $ 1,136,695 | $ 1,042,212 |
Note 6 - Leases (Details Textua
Note 6 - Leases (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jun. 27, 2020 | Jun. 29, 2019 | Jun. 27, 2020 | Mar. 31, 2019 | |
Lessee, Operating Lease, Term of Contract (Year) | 5 years | |||
Lease Annual Rent Payments | $ 171,000 | |||
Lessee, Operating Lease, Renewal Term (Year) | 2 years 182 days | 2 years 182 days | ||
Operating Lease, Expense | $ 43,000 | $ 128,000 |
Note 6 - Leases - Maturity of O
Note 6 - Leases - Maturity of Operating Lease Liability (Details) | Jun. 27, 2020USD ($) |
July - September 2020 | $ 42,650 |
2021 | 170,603 |
2022 | 170,603 |
2023 | 170,603 |
2024 | 85,301 |
Total lease payments | 639,760 |
Less: Imputed interest | (43,814) |
Total lease liability | $ 595,946 |
Note 7 - Debt (Details Textual)
Note 7 - Debt (Details Textual) - USD ($) | Apr. 17, 2020 | Jun. 27, 2020 | Jun. 29, 2019 |
Proceeds from Issuance of Long-term Debt, Total | $ 474,400 | ||
Paycheck Protection Program CARES Act [Member] | |||
Proceeds from Issuance of Long-term Debt, Total | $ 474,400 |
Note 9 - Loss Per Share (Detail
Note 9 - Loss Per Share (Details Textual) - shares | 3 Months Ended | |
Jun. 27, 2020 | Jun. 29, 2019 | |
Share-based Payment Arrangement, Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 241,370 | 231,337 |
Note 10 - Major Customers and_3
Note 10 - Major Customers and Export Sales (Details Textual) | 3 Months Ended | 9 Months Ended | ||
Jun. 27, 2020 | Jun. 29, 2019 | Jun. 27, 2020 | Jun. 29, 2019 | |
Number of Countries in Which Products are Sold | 1 | 1 | 2 | 4 |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | ||||
Number of Major Customers | 3 | 2 | 2 | 2 |
Concentration Risk, Percentage | 92.00% | 99.00% | 68.00% | 88.00% |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer One [Member] | ||||
Concentration Risk, Percentage | 53.00% | 77.00% | 46.00% | 66.00% |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer Two [Member] | ||||
Concentration Risk, Percentage | 25.00% | 22.00% | 22.00% | 22.00% |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer Three [Member] | ||||
Concentration Risk, Percentage | 14.00% |
Note 10 - Major Customers and_4
Note 10 - Major Customers and Export Sales - Foreign and Domestic Net Sales (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jun. 27, 2020 | Jun. 29, 2019 | Jun. 27, 2020 | Jun. 29, 2019 | |
Net revenue | $ 598,730 | $ 1,234,662 | $ 1,987,406 | $ 4,275,475 |
UNITED STATES | ||||
Net revenue | 512,455 | 1,232,187 | 1,500,502 | 4,076,652 |
Non-US [Member] | ||||
Net revenue | $ 86,275 | $ 2,475 | $ 486,904 | $ 198,823 |
Note 10 - Major Customers and_5
Note 10 - Major Customers and Export Sales - Foreign Revenue (Details) | 3 Months Ended | 9 Months Ended | ||
Jun. 27, 2020 | Jun. 29, 2019 | Jun. 27, 2020 | Jun. 29, 2019 | |
SAUDI ARABIA | ||||
Foreign revenue by country | 100.00% | 99.00% | 57.00% | |
Mid-East and Africa [Member] | ||||
Foreign revenue by geographical area | 100.00% | 100.00% | 100.00% | 95.00% |
EGYPT | ||||
Foreign revenue by country | 37.00% | |||
Far East [Member] | ||||
Foreign revenue by geographical area | 5.00% | |||
PHILIPPINES | ||||
Foreign revenue by country | 5.00% | |||
Other Foreign Countries [Member] | ||||
Foreign revenue by country | 100.00% | 1.00% | 1.00% |