Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Sep. 25, 2021 | Dec. 10, 2021 | Mar. 30, 2021 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0000096699 | ||
Entity Registrant Name | TECHNICAL COMMUNICATIONS CORP | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --09-25 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2021 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Sep. 25, 2021 | ||
Document Transition Report | false | ||
Entity File Number | 001-34816 | ||
Entity Incorporation, State or Country Code | MA | ||
Entity Tax Identification Number | 04-2295040 | ||
Entity Address, Address Line One | 100 Domino Drive | ||
Entity Address, City or Town | Concord | ||
Entity Address, State or Province | MA | ||
Entity Address, Postal Zip Code | 01742-2892 | ||
City Area Code | 978 | ||
Local Phone Number | 287-5100 | ||
Title of 12(g) Security | Common Stock, par value $0.10 per share | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
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 | ||
Entity Public Float | $ 3,375,018 | ||
Entity Common Stock, Shares Outstanding | 1,854,403 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Sep. 25, 2021 | Sep. 26, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 298,022 | $ 1,513,852 |
Accounts receivable - trade | 280,807 | 134,412 |
Inventories, net | 1,157,382 | 902,051 |
Other current assets | 169,479 | 153,483 |
Total current assets | 1,905,690 | 2,703,798 |
Equipment and leasehold improvements | 4,543,183 | 4,595,152 |
Less accumulated depreciation and amortization | (4,538,782) | (4,576,423) |
Equipment and leasehold improvements, net | 4,401 | 18,729 |
Operating lease right-of-use asset | 406,519 | 558,767 |
Total assets | 2,316,610 | 3,281,294 |
Current liabilities: | ||
Current maturities of notes payable – long-term (Note 9) | 494 | 0 |
Notes payable – short-term (Note 9) | 1,000,000 | 0 |
Current operating lease liabilities | 158,070 | 152,248 |
Accounts payable | 105,676 | 66,154 |
Customer deposits | 45,124 | 161,953 |
Deferred income | 0 | 474,400 |
Accrued liabilities: | ||
Compensation and related expenses | 219,271 | 250,750 |
Commissions | 16,248 | 229,314 |
Other current liabilities | 29,330 | 25,531 |
Total current liabilities | 1,574,213 | 1,360,350 |
Long-term operating lease liabilities | 248,449 | 406,519 |
Notes payable – long-term, net of current maturities (Note 9) | 149,506 | 150,000 |
Commitments and contingencies | ||
Stockholders' equity | ||
Common stock - par value $0.10 per share; 7,000,000 shares authorized, 1,854,403 issued and outstanding at September 25, 2021 and 1,850,403 issued and outstanding at September 26, 2020 | 185,440 | 185,041 |
Additional paid-in capital | 4,312,969 | 4,244,965 |
Accumulated deficit | (4,153,967) | (3,065,581) |
Total stockholders' equity | 344,442 | 1,364,425 |
Total liabilities and stockholders’ equity | $ 2,316,610 | $ 3,281,294 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Sep. 25, 2021 | Sep. 26, 2020 |
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) | 1,854,403 | 1,850,403 |
Common stock, outstanding (in shares) | 1,854,403 | 1,850,403 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Sep. 25, 2021 | Sep. 26, 2020 | |
Net revenue | $ 1,866,379 | $ 4,108,240 |
Cost of revenue | 1,309,712 | 1,723,637 |
Gross profit | 556,667 | 2,384,603 |
Operating expenses: | ||
Selling, general and administrative | 1,842,094 | 2,226,265 |
Product development | 732,020 | 1,068,641 |
Total operating expenses | 2,574,114 | 3,294,906 |
Operating loss | (2,017,447) | (910,303) |
Other income (expense) | ||
Grant income (Note 9) | 948,805 | 0 |
Interest expense | (19,747) | (802) |
Investment income | 3 | 455 |
Total other income (expense) | 929,061 | (347) |
Net loss | $ (1,088,386) | $ (910,650) |
Net loss per common share | ||
Basic (in dollars per share) | $ (0.59) | $ (0.49) |
Diluted (in dollars per share) | $ (0.59) | $ (0.49) |
Weighted average shares | ||
Basic (in shares) | 1,851,194 | 1,850,403 |
Diluted (in shares) | 1,851,194 | 1,850,403 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Sep. 25, 2021 | Sep. 26, 2020 | Sep. 28, 2019 | |
Operating activities: | |||
Net (loss) income | $ (1,088,386) | $ (910,650) | $ 631,426 |
Adjustments to reconcile net (loss) income to cash (used in) provided by operating activities: | |||
Depreciation and amortization | 14,328 | 22,148 | |
Stock-based compensation | 52,404 | 55,526 | |
PPP loan forgiveness reported as grant income | (948,805) | 0 | |
Changes in current assets and current liabilities: | |||
Accounts receivable | (146,395) | (8,489) | |
Inventories | (255,331) | 140,161 | |
Other current assets | (15,996) | (35,233) | |
Customer deposits | (116,829) | 159,907 | |
Accounts payable and accrued liabilities | (201,224) | (123,917) | |
Cash used in operating activities | (2,706,234) | (700,547) | |
Investing activities: | |||
Additions to equipment and leasehold improvements | 0 | (3,396) | |
Cash used in investing activities | 0 | (3,396) | |
Financing activities: | |||
Proceeds from issuance of common stock | 15,999 | 0 | |
Proceeds from PPP loans | 474,405 | 474,400 | |
Proceeds from long-term debt | 1,000,000 | 150,000 | |
Cash provided by financing activities | 1,490,404 | 624,400 | |
Net decrease in cash, cash equivalents and restricted cash | (1,215,830) | (79,543) | |
Cash and cash equivalents at beginning of year | 1,513,852 | 1,593,395 | |
Cash and cash equivalents at end of year | 298,022 | 1,513,852 | $ 1,593,395 |
Supplemental disclosures: | |||
Income taxes paid | $ 912 | $ 912 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance (in shares) at Sep. 28, 2019 | 1,850,403 | |||
Issuance of common stock (in shares) | 0 | |||
Ending balance (in shares) at Sep. 26, 2020 | 1,850,403 | |||
Beginning balance at Sep. 28, 2019 | $ 185,041 | $ 4,189,439 | $ (2,154,831) | |
Issuance of common stock | 0 | 0 | ||
Stock-based compensation | 55,526 | |||
Net (loss) income | (910,650) | $ (910,650) | ||
Ending balance at Sep. 26, 2020 | $ 185,041 | 4,244,965 | (3,065,581) | 1,364,425 |
Issuance of common stock (in shares) | 4,000 | |||
Ending balance (in shares) at Sep. 25, 2021 | 1,854,403 | |||
Issuance of common stock | $ 399 | 15,600 | ||
Stock-based compensation | 52,404 | |||
Net (loss) income | (1,088,386) | (1,088,386) | ||
Ending balance at Sep. 25, 2021 | $ 185,440 | $ 4,312,969 | $ (4,153,967) | $ 344,442 |
Note 1 - Company Operations
Note 1 - Company Operations | 12 Months Ended |
Sep. 25, 2021 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ( 1 Company Operations Technical Communications Corporation (“TCC”) was incorporated in Massachusetts in 1961; 1982. one 115 Liquidity and Ability to Continue as a Going Concern For the year ended September 25, 2021, September 26, 2020, September 28, 2019, seven 2012 2018 September 25, 2021. not During the third 2021, May 6, 2021 no September 25, 2021 Also during the second March 15, 2021, December 2020 second We anticipate that our principal sources of liquidity, including the recent line of credit, will be sufficient to fund our activities through March 2022. 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. The receipt of these orders has been significantly delayed and will continue to be difficult to predict due to the impact of the COVID- 19 Since the start of the pandemic, the Company has been able to secure capital in the form of debt financing to assist with funding its operations. On February 1, 2021, not five 1% 24 April 2020 January 11, 2021. During fiscal year 2020, two The Company is working diligently to secure additional capital through equity or debt arrangements in addition to the recent funding received from the SBA and Mr. Guild. The Company is actively working with equity investors as well as debt investors, such as the SBA and Mr. Guild to secure additional funding, although we cannot provide assurances we will be able to secure such new funding, especially in light of the tightening of the credit markets and continuing volatility of the capital markets as a result of the coronavirus. Moreover, the Company’s common stock was delisted from the NASDAQ Capital Market effective January 25, 2021. may Should the Company be unsuccessful in these efforts, it would be forced to implement headcount reductions, additional employee furloughs and/or reduced hours for certain employees, or cease operations completely. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Sep. 25, 2021 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | ( 2 Summary of Significant Accounting Policies 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 Principles of Consolidation The accompanying consolidated financial statements include the accounts of TCC and its wholly-owned subsidiary, TCC Investment Corp., a Massachusetts corporation. All significant intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with GAAP in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Significant judgments and estimates include those related to revenue recognition, receivable reserves, inventory reserves, impairment of long-lived assets, income taxes, fair value and stock-based compensation. Actual results could differ from those estimates. Cash, Cash Equivalents and Marketable Securities The Company considers all highly liquid instruments with an original maturity of three in bank deposit accounts and money market mutual funds that, at times, may not not 320, Investments Debt and Equity Securities. Accounts Receivable Accounts receivable are reduced by an allowance for amounts that management believes may September 25, 2021 September 26, 2020. Inventories The Company values its inventory at the lower of actual cost (based on the first first may Equipment and Leasehold Improvements Equipment and leasehold improvements are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the lesser of the estimated useful life of the asset or the applicable lease term. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation and amortization are removed from the accounts, and any resulting gain or loss is recognized in operations for the period. The costs of maintenance and repairs are charged to operations as incurred; significant renewals and betterments are capitalized. Long-lived Assets The Company’s only long-lived assets are equipment and leasehold improvements. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not 2021 2020. Revenue Recognition The Company’s engineering services revenue is derived from performing funded research and development and technology development for commercial companies and government agencies primarily under fixed-price contracts. On fixed-price contracts that are expected to exceed one The Company recognizes equipment sales revenue when there is persuasive evidence of an arrangement, the fee is fixed or determinable, delivery of the product and passage of title to the customer has occurred and the Company has determined that collection of the fee is probable. Title to the product generally passes upon shipment of the product, as the products are shipped freight on board shipping point, except for certain foreign shipments for which title passes upon entry of the product into the first All payments to the Company for work performed on contracts with agencies of the U.S. government are subject to audit and adjustment by the Defense Contract Audit Agency, the U.S. Government Accountability Office and other agencies. Adjustments are recognized in the period made. There have been no not Costs incurred in connection with funded research and development are included in cost of revenue. Product development costs are charged to billable engineering services, bid and proposal efforts or business development activities, as appropriate. Product development costs charged to billable projects are recorded as cost of revenue; engineering costs charged to bid and proposal efforts are recorded as selling expenses; and product development costs charged to business development activities are recorded as marketing expenses. Product development costs consist primarily of costs associated with personnel, outside contractor and engineering services, supplies and materials. Cost of product revenue includes material, labor and overhead. Income Taxes The Company accounts for income taxes using the asset/liability method. Under the asset/liability method, deferred income taxes are recognized at current income tax rates to reflect the tax effect of temporary differences between the consolidated financial reporting basis and tax basis of assets and liabilities. The Company provides a valuation allowance, if necessary, to reduce deferred tax assets to their estimated realizable value. The Company follows the appropriate guidance relative to uncertain tax positions. This standard provides detailed guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in the financial statements. Uncertain tax positions must meet a recognition threshold of more-likely-than- not September 25, 2021 September 26, 2020. Warranty Costs The Company provides for estimated warranty costs at the time product revenue is recognized based upon historical experience. Fair Value of Financial Measurements The Company’s available for sale securities consist of money market mutual funds held in a brokerage account, which are classified as cash equivalents and measured at fair value. As of September 25, 2021 September 26, 2020, not 1, 2 3. September 25, 2021 September 26, 2020. Earnings (Loss) per Share (EPS) The Company presents both a “basic” and a “diluted” EPS. Basic EPS is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. In computing diluted EPS, stock options that are dilutive (i.e., those that reduce earnings per share) are included in the calculation of EPS using the treasury stock method. The exercise of outstanding stock options is not Research and Development Research and development costs are included in product development expenses in the consolidated statements of operations. Expenditures for Company-sponsored research and development projects are expensed as incurred and were $732,020 and $1,068,641 in fiscal 2021 2020, 2021 2020, Fiscal Year-End Policy The Company’s by-laws call for its fiscal year to end on the Saturday closest to the last day of September, 2021 September 25, 2021 52 2020 September 26, 2020 52 Reclassification Certain reclassifications have been made to the consolidated financial statements for fiscal 2020 2021 SBA Payroll Protection Program Loan During fiscal year 2020, 20 Accounting for Government Grants and Disclosure of Government Assistance 20” 20 1 2 100% 75% New Accounting Pronouncements ASU No. 2019 12, In December 2019, No. 2019 12, Simplifying the Accounting for Income Taxes 740, Income Taxes December 15, 2020 ( not Other recent accounting pronouncements were issued by the FASB (including its Emerging Issues Task Force) and the SEC during the Company’s 2021 not |
Note 3 - Revenue
Note 3 - Revenue | 12 Months Ended |
Sep. 25, 2021 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | ( 3 Revenue The following table presents the Company’s revenues disaggregated by revenue type for the years ended September 25, 2021 September 26, 2020. Revenue type: September 25, 2021 September 26, 2020 Engineering services $ 1,106,709 $ 913,446 Equipment sales 759,670 3,194,794 Total sales $ 1,866,379 $ 4,108,240 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, the Company may |
Note 4 - Net Loss Per Share
Note 4 - Net Loss Per Share | 12 Months Ended |
Sep. 25, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | ( 4 Net Loss Per Share Outstanding potentially dilutive stock options, which were not 2021 2020, |
Note 5 - Stock Based Compensati
Note 5 - Stock Based Compensation | 12 Months Ended |
Sep. 25, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | ( 5 Stock Based Compensation Stock-based compensation expense is measured at the grant date based on the calculated fair value of the award. The expense is recognized over the employee’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 an operating activity. There were no excess tax benefits for the fiscal years ended September 25, 2021 September 26, 2020. 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 not The fair value of options at date of grant was estimated with the following assumptions: September 25, 2021 September 26, 2020 Assumptions: Option life (years) 6.5 6.5 Risk-free interest rate 0.7 % 0.8 % Stock volatility 113 % 115 % Dividend yield 0 % 0 % There were no options granted during the fiscal year ended September 25, 2021 September 26, 2020. September 26, 2020 September 25, 2021 September 26, 2020: 2021 2020 Selling, general and administrative $ 43,292 $ 43,850 Product development 9,112 11,676 Total stock-based compensation expense before taxes $ 52,404 $ 55,526 As of September 25, 2021, September 25, 2021, On May 6, 2021 2021 not September 25, 2021. zero five 2021 ten The Technical Communications Corporation 2005 2010 September 25, 2021 no September 25, 2021. zero five ten The following tables summarize stock option activity during fiscal years 2020 2021: Options Outstanding Number of Shares Weighted Average Weighted Average Contractual Life Unvested Vested Total Exercise Price (years) Outstanding, September 28, 2019 59,400 171,937 231,337 $ 8.00 3.99 Grants 34,000 - 34,000 2.12 Vested (21,800 ) 21,800 - 3.51 Exercises - - - - Cancellations/forfeitures - (107,437 ) (107,437 ) 11.22 Outstanding, September 26, 2020 71,600 86,300 157,900 $ 4.54 6.54 Grants - - - - Vested (21,900 ) 21,900 - 3.32 Exercises - - - - Cancellations/forfeitures (1,200 ) (12,800 ) (14,000 ) 8.92 Outstanding, September 25, 2021 48,500 95,400 143,900 $ 4.11 5.97 Information related to the stock options vested or expected to vest as of September 25, 2021 Range of Exercise Prices Number of Shares Weighted- Average Remaining Contractual Life (years) Weighted- Average Exercise Price Exercisable Number of Shares Exercisable Weighted- Average Exercise Price $1.01 - $2.00 20,000 8.20 $ 1.87 8,000 $ 1.87 $2.01 - $3.00 34,300 6.42 2.61 21,000 2.68 $3.01 - $4.00 43,500 7.58 3.60 24,600 3.60 $4.01 - $5.00 16,600 2.74 4.34 16,500 4.33 $5.01 - $10.00 22,500 4.27 7.36 18,300 7.38 $10.01 - $15.00 7,000 0.61 10.20 7,000 10.20 143,900 5.97 $ 4.11 95,400 $ 4.59 The aggregate intrinsic value of the Company’s “in-the-money” outstanding and exercisable options was $14,226 as of September 25, 2021 September 26, 2020. September 25, 2021 September 26, 2020. |
Note 6 - Inventories
Note 6 - Inventories | 12 Months Ended |
Sep. 25, 2021 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | ( 6 Inventories Inventories consist of the following: September 25, 2021 September 26, 2020 Finished goods $ 57,006 $ 75,289 Work in process 487,276 176,980 Raw materials and supplies 613,100 649,782 Total inventories $ 1,157,382 $ 902,051 |
Note 7 - Equipment and Leasehol
Note 7 - Equipment and Leasehold Improvements | 12 Months Ended |
Sep. 25, 2021 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | ( 7 Equipment and Leasehold Improvements Equipment and leasehold improvements consist of the following: September 25, 2021 September 26, 2020 Estimated Useful Life (years) Engineering and manufacturing equipment $ 2,149,280 $ 2,181,649 3 - 8 Demonstration equipment 834,137 845,541 3 Furniture and fixtures 1,015,816 1,024,012 3 - 8 Automobile 49,441 49,441 5 Leasehold improvements 494,509 494,509 Lesser of useful life or term of lease Total equipment and leasehold improvements 4,543,183 4,595,152 Less accumulated depreciation and amortization (4,538,782 ) (4,576,423 ) Equipment and leasehold improvements, net $ 4,401 $ 18,729 Depreciation expense was $14,328 and $22,148 for the fiscal years ended September 25, 2021 September 26, 2020, |
Note 8 - Leases
Note 8 - Leases | 12 Months Ended |
Sep. 25, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | ( 8 Leases The Company leases space from a third five March 31, 2019 two one September 30, 2021 two one March 31, 2024 $171,000. September 2018, September 2021. March 31, 2021, March 30, 2024. September 25, 2021 September 26, 2020 The table below presents the maturity of the Company’s operating lease liability as of September 25, 2021: 2022 $ 170,603 2023 170,603 2024 85,301 Total lease payments 426,507 Less: Imputed interest (19,988 ) Total lease liability $ 406,519 |
Note 9 - Debt
Note 9 - Debt | 12 Months Ended |
Sep. 25, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | ( 9 Debt On April 17, 2020, April 17, 2020, 18 1% not January 11, 2021. may 20, Accounting for Government Grants and Disclosure of Government Assistance all of the PPP loan. The Company has elected to adopt this method of accounting for this PPP loan under IAS 20, On August 10, 2020, August 10, 2020, may no 19 one March 12, 2021 August 10, 2022. As part of the SBA Loan, the Company granted the SBA a continuing security interest in and to any and all “Collateral” to secure payment and performance of all debts, liabilities and obligations of the Company to the SBA under the SBA Loan. The Collateral includes all tangible and intangible personal property that the Company owns or acquires or creates immediately upon the acquisition or creation thereof, including, but not may The aggregate amounts of principal maturities of long-term debt for the following fiscal years are: 2022 $ 494 2023 3,032 2024 3,148 2025 3,268 2026 3,392 Thereafter 136,666 $ 150,000 On February 1, 2021, second 1% not August 30, 2021 On May 6, 2021, no September 25, 2021 |
Note 10 - Warranty
Note 10 - Warranty | 12 Months Ended |
Sep. 25, 2021 | |
Notes to Financial Statements | |
Product Warranty Disclosure [Text Block] | ( 10 Warranty The Company's products generally carry a standard 15 month warranty. The Company records a reserve based on anticipated warranty claims at the time product revenue is recognized. Factors that affect the Company's product warranty liability include the number of installed units, the anticipated cost of warranty repairs and historical and anticipated rates of warranty claims. The warranty reserve is included in other current liabilities on the balance sheet. The following table reflects changes in the Company's accrued warranty account: September 25, 2021 September 26, 2020 Beginning balance $ 28,211 $ 19,301 Plus: accruals related to new sales 2,290 16,774 Less: payments and adjustments to prior period accruals (16,737 ) (7,864 ) Ending balance $ 13,764 $ 28,211 |
Note 11 - Income Taxes
Note 11 - Income Taxes | 12 Months Ended |
Sep. 25, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | ( 11 Income Taxes The income tax expense (benefit) is different from what would be obtained by applying the statutory federal income tax rate to income (loss) before income taxes due to the following: September 25, 2021 September 26, 2020 Amount Percent Amount Percent Tax expense (benefit) at U.S. statutory rate $ (228,561 ) (21.0 %) $ (191,237 ) (21.0 %) State income tax provision, net of federal benefit (104,451 ) (9.6 %) (34,400 ) (3.8 %) Federal research credits - - - - Change in state income tax rate (160,738 ) (14.8 %) 241,432 26.5 % Other (105,280 ) (9.6 %) (27,557 ) (3.0 %) Valuation allowance 599,030 55.0 % 11,762 1.3 % Total income tax expense (benefit) $ - - $ - - Deferred income taxes consist of the following: September 25, 2021 September 26, 2020 Inventory differences $ 1,046,746 $ 1,134,253 Net operating losses 2,789,142 1,972,715 Stock based compensation 133,173 120,684 Tax credits 516,562 535,357 Other 70,168 193,752 Total 4,555,791 3,956,761 Less: valuation allowance (4,555,791 ) (3,956,761 ) Total $ - $ - During fiscal year 2014, 2021, 2020, 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 The Company files income tax returns in the U.S. federal jurisdiction and in the states of Massachusetts and New Hampshire. For U.S. federal and state purposes, the tax years 2017 2020 may 2038 2021 2019 2040 |
Note 12 - Employee Benefit Plan
Note 12 - Employee Benefit Plans | 12 Months Ended |
Sep. 25, 2021 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | ( 12 Employee Benefit Plans The Company has a qualified, contributory, profit sharing plan covering substantially all employees. The Company’s policy is to fund contributions as they are accrued. The contributions are allocated based on the employee’s proportionate share of total compensation. The Company’s contributions to the plan are determined by the Board of Directors and are subject to other specified limitations. There were no 2021 2020. 2021 2020, The Company has an Executive Incentive Bonus Plan for the benefit of key management employees. The bonus pool is determined based on the Company’s performance as defined by the plan. Under the plan, there were no bonuses earned, accrued or paid to eligible employees at September 25, 2021 September 26, 2020. |
Note 13 - Major Customers and E
Note 13 - Major Customers and Export Revenue | 12 Months Ended |
Sep. 25, 2021 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | ( 13 Major Customers and Export Revenue In fiscal year 2021, two September 25, 2021 2020, September 26, 2020 A breakdown of net revenue is as follows: September 25, 2021 September 26, 2020 Domestic $ 1,629,824 $ 2,876,086 Foreign 236,555 1,232,154 Total Revenue $ 1,866,379 $ 4,108,240 A summary of foreign sales, as a percentage of total foreign revenue, by geographic area, is as follows: September 25, 2021 September 26, 2020 Mid-East and Africa 95.0 % 100.0 % Far East 5.0 % - The Company sold products to customers located in four countries during the year ended September 25, 2021 September 26, 2020. may September 25, 2021 September 26, 2020 Saudi Arabia 8.0 % 99.8 % Morocco 62.5 % - Egypt 24.5 % - Other 5.0 % 0.2 % |
Note 14 - Related Party Transac
Note 14 - Related Party Transactions | 12 Months Ended |
Sep. 25, 2021 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | ( 14 Related Party Transactions On May 6, 2021, no September 25, 2021 On July 15, 2021 |
Note 15 - Shareholder Rights Pl
Note 15 - Shareholder Rights Plan | 12 Months Ended |
Sep. 25, 2021 | |
Notes to Financial Statements | |
Disclosure of Shareholders' Rights Plan [Text Block] | ( 15 Shareholder Rights Plan On August 7, 2014, August 5, 2014. not August 18, 2014. not one $.001 tenth August 6, 2024 |
Note 16 - Impact of COVID-19 Co
Note 16 - Impact of COVID-19 Coronavirus | 12 Months Ended |
Sep. 25, 2021 | |
Notes to Financial Statements | |
Effect of Covid-19 Pandemic [Text Block] | ( 16 Impact of COVID- 19 As a result of the economic slowdown due to the COVID- 19 not June 2020 may December 2020 second |
Note 17 - Subsequent Event
Note 17 - Subsequent Event | 12 Months Ended |
Sep. 25, 2021 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | ( 17 Subsequent Event On November 18, 2021, no |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Sep. 25, 2021 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The accompanying consolidated financial statements include the accounts of TCC and its wholly-owned subsidiary, TCC Investment Corp., a Massachusetts corporation. All significant intercompany accounts and transactions have been eliminated in consolidation. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with GAAP in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Significant judgments and estimates include those related to revenue recognition, receivable reserves, inventory reserves, impairment of long-lived assets, income taxes, fair value and stock-based compensation. Actual results could differ from those estimates. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash, Cash Equivalents and Marketable Securities The Company considers all highly liquid instruments with an original maturity of three in bank deposit accounts and money market mutual funds that, at times, may not not 320, Investments Debt and Equity Securities. |
Receivable [Policy Text Block] | Accounts Receivable Accounts receivable are reduced by an allowance for amounts that management believes may September 25, 2021 September 26, 2020. |
Inventory, Policy [Policy Text Block] | Inventories The Company values its inventory at the lower of actual cost (based on the first first may |
Equipment and Lease Hold Improvements [Policy Text Block] | Equipment and Leasehold Improvements Equipment and leasehold improvements are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the lesser of the estimated useful life of the asset or the applicable lease term. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation and amortization are removed from the accounts, and any resulting gain or loss is recognized in operations for the period. The costs of maintenance and repairs are charged to operations as incurred; significant renewals and betterments are capitalized. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Long-lived Assets The Company’s only long-lived assets are equipment and leasehold improvements. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not 2021 2020. |
Revenue [Policy Text Block] | Revenue Recognition The Company’s engineering services revenue is derived from performing funded research and development and technology development for commercial companies and government agencies primarily under fixed-price contracts. On fixed-price contracts that are expected to exceed one The Company recognizes equipment sales revenue when there is persuasive evidence of an arrangement, the fee is fixed or determinable, delivery of the product and passage of title to the customer has occurred and the Company has determined that collection of the fee is probable. Title to the product generally passes upon shipment of the product, as the products are shipped freight on board shipping point, except for certain foreign shipments for which title passes upon entry of the product into the first All payments to the Company for work performed on contracts with agencies of the U.S. government are subject to audit and adjustment by the Defense Contract Audit Agency, the U.S. Government Accountability Office and other agencies. Adjustments are recognized in the period made. There have been no not Costs incurred in connection with funded research and development are included in cost of revenue. Product development costs are charged to billable engineering services, bid and proposal efforts or business development activities, as appropriate. Product development costs charged to billable projects are recorded as cost of revenue; engineering costs charged to bid and proposal efforts are recorded as selling expenses; and product development costs charged to business development activities are recorded as marketing expenses. Product development costs consist primarily of costs associated with personnel, outside contractor and engineering services, supplies and materials. Cost of product revenue includes material, labor and overhead. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company accounts for income taxes using the asset/liability method. Under the asset/liability method, deferred income taxes are recognized at current income tax rates to reflect the tax effect of temporary differences between the consolidated financial reporting basis and tax basis of assets and liabilities. The Company provides a valuation allowance, if necessary, to reduce deferred tax assets to their estimated realizable value. The Company follows the appropriate guidance relative to uncertain tax positions. This standard provides detailed guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in the financial statements. Uncertain tax positions must meet a recognition threshold of more-likely-than- not September 25, 2021 September 26, 2020. |
Standard Product Warranty, Policy [Policy Text Block] | Warranty Costs The Company provides for estimated warranty costs at the time product revenue is recognized based upon historical experience. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Measurements The Company’s available for sale securities consist of money market mutual funds held in a brokerage account, which are classified as cash equivalents and measured at fair value. As of September 25, 2021 September 26, 2020, not 1, 2 3. September 25, 2021 September 26, 2020. |
Earnings Per Share, Policy [Policy Text Block] | Earnings (Loss) per Share (EPS) The Company presents both a “basic” and a “diluted” EPS. Basic EPS is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. In computing diluted EPS, stock options that are dilutive (i.e., those that reduce earnings per share) are included in the calculation of EPS using the treasury stock method. The exercise of outstanding stock options is not |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Research and development costs are included in product development expenses in the consolidated statements of operations. Expenditures for Company-sponsored research and development projects are expensed as incurred and were $732,020 and $1,068,641 in fiscal 2021 2020, 2021 2020, |
Fiscal Period, Policy [Policy Text Block] | Fiscal Year-End Policy The Company’s by-laws call for its fiscal year to end on the Saturday closest to the last day of September, 2021 September 25, 2021 52 2020 September 26, 2020 52 |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassification Certain reclassifications have been made to the consolidated financial statements for fiscal 2020 2021 |
New Accounting Pronouncements, Policy [Policy Text Block] | SBA Payroll Protection Program Loan During fiscal year 2020, 20 Accounting for Government Grants and Disclosure of Government Assistance 20” 20 1 2 100% 75% New Accounting Pronouncements ASU No. 2019 12, In December 2019, No. 2019 12, Simplifying the Accounting for Income Taxes 740, Income Taxes December 15, 2020 ( not Other recent accounting pronouncements were issued by the FASB (including its Emerging Issues Task Force) and the SEC during the Company’s 2021 not |
Note 3 - Revenue (Tables)
Note 3 - Revenue (Tables) | 12 Months Ended |
Sep. 25, 2021 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | September 25, 2021 September 26, 2020 Engineering services $ 1,106,709 $ 913,446 Equipment sales 759,670 3,194,794 Total sales $ 1,866,379 $ 4,108,240 |
Note 5 - Stock Based Compensa_2
Note 5 - Stock Based Compensation (Tables) | 12 Months Ended |
Sep. 25, 2021 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | September 25, 2021 September 26, 2020 Assumptions: Option life (years) 6.5 6.5 Risk-free interest rate 0.7 % 0.8 % Stock volatility 113 % 115 % Dividend yield 0 % 0 % |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | 2021 2020 Selling, general and administrative $ 43,292 $ 43,850 Product development 9,112 11,676 Total stock-based compensation expense before taxes $ 52,404 $ 55,526 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Options Outstanding Number of Shares Weighted Average Weighted Average Contractual Life Unvested Vested Total Exercise Price (years) Outstanding, September 28, 2019 59,400 171,937 231,337 $ 8.00 3.99 Grants 34,000 - 34,000 2.12 Vested (21,800 ) 21,800 - 3.51 Exercises - - - - Cancellations/forfeitures - (107,437 ) (107,437 ) 11.22 Outstanding, September 26, 2020 71,600 86,300 157,900 $ 4.54 6.54 Grants - - - - Vested (21,900 ) 21,900 - 3.32 Exercises - - - - Cancellations/forfeitures (1,200 ) (12,800 ) (14,000 ) 8.92 Outstanding, September 25, 2021 48,500 95,400 143,900 $ 4.11 5.97 |
Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block] | Range of Exercise Prices Number of Shares Weighted- Average Remaining Contractual Life (years) Weighted- Average Exercise Price Exercisable Number of Shares Exercisable Weighted- Average Exercise Price $1.01 - $2.00 20,000 8.20 $ 1.87 8,000 $ 1.87 $2.01 - $3.00 34,300 6.42 2.61 21,000 2.68 $3.01 - $4.00 43,500 7.58 3.60 24,600 3.60 $4.01 - $5.00 16,600 2.74 4.34 16,500 4.33 $5.01 - $10.00 22,500 4.27 7.36 18,300 7.38 $10.01 - $15.00 7,000 0.61 10.20 7,000 10.20 143,900 5.97 $ 4.11 95,400 $ 4.59 |
Note 6 - Inventories (Tables)
Note 6 - Inventories (Tables) | 12 Months Ended |
Sep. 25, 2021 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | September 25, 2021 September 26, 2020 Finished goods $ 57,006 $ 75,289 Work in process 487,276 176,980 Raw materials and supplies 613,100 649,782 Total inventories $ 1,157,382 $ 902,051 |
Note 7 - Equipment and Leaseh_2
Note 7 - Equipment and Leasehold Improvements (Tables) | 12 Months Ended |
Sep. 25, 2021 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | September 25, 2021 September 26, 2020 Estimated Useful Life (years) Engineering and manufacturing equipment $ 2,149,280 $ 2,181,649 3 - 8 Demonstration equipment 834,137 845,541 3 Furniture and fixtures 1,015,816 1,024,012 3 - 8 Automobile 49,441 49,441 5 Leasehold improvements 494,509 494,509 Lesser of useful life or term of lease Total equipment and leasehold improvements 4,543,183 4,595,152 Less accumulated depreciation and amortization (4,538,782 ) (4,576,423 ) Equipment and leasehold improvements, net $ 4,401 $ 18,729 |
Note 8 - Leases (Tables)
Note 8 - Leases (Tables) | 12 Months Ended |
Sep. 25, 2021 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | 2022 $ 170,603 2023 170,603 2024 85,301 Total lease payments 426,507 Less: Imputed interest (19,988 ) Total lease liability $ 406,519 |
Note 9 - Debt (Tables)
Note 9 - Debt (Tables) | 12 Months Ended |
Sep. 25, 2021 | |
Notes Tables | |
Schedule of Maturities of Long-term Debt [Table Text Block] | 2022 $ 494 2023 3,032 2024 3,148 2025 3,268 2026 3,392 Thereafter 136,666 $ 150,000 |
Note 10 - Warranty (Tables)
Note 10 - Warranty (Tables) | 12 Months Ended |
Sep. 25, 2021 | |
Notes Tables | |
Schedule of Product Warranty Liability [Table Text Block] | September 25, 2021 September 26, 2020 Beginning balance $ 28,211 $ 19,301 Plus: accruals related to new sales 2,290 16,774 Less: payments and adjustments to prior period accruals (16,737 ) (7,864 ) Ending balance $ 13,764 $ 28,211 |
Note 11 - Income Taxes (Tables)
Note 11 - Income Taxes (Tables) | 12 Months Ended |
Sep. 25, 2021 | |
Notes Tables | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | September 25, 2021 September 26, 2020 Amount Percent Amount Percent Tax expense (benefit) at U.S. statutory rate $ (228,561 ) (21.0 %) $ (191,237 ) (21.0 %) State income tax provision, net of federal benefit (104,451 ) (9.6 %) (34,400 ) (3.8 %) Federal research credits - - - - Change in state income tax rate (160,738 ) (14.8 %) 241,432 26.5 % Other (105,280 ) (9.6 %) (27,557 ) (3.0 %) Valuation allowance 599,030 55.0 % 11,762 1.3 % Total income tax expense (benefit) $ - - $ - - |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | September 25, 2021 September 26, 2020 Inventory differences $ 1,046,746 $ 1,134,253 Net operating losses 2,789,142 1,972,715 Stock based compensation 133,173 120,684 Tax credits 516,562 535,357 Other 70,168 193,752 Total 4,555,791 3,956,761 Less: valuation allowance (4,555,791 ) (3,956,761 ) Total $ - $ - |
Note 13 - Major Customers and_2
Note 13 - Major Customers and Export Revenue (Tables) | 12 Months Ended |
Sep. 25, 2021 | |
Notes Tables | |
Revenue from External Customers by Geographic Areas [Table Text Block] | September 25, 2021 September 26, 2020 Domestic $ 1,629,824 $ 2,876,086 Foreign 236,555 1,232,154 Total Revenue $ 1,866,379 $ 4,108,240 |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | September 25, 2021 September 26, 2020 Mid-East and Africa 95.0 % 100.0 % Far East 5.0 % - September 25, 2021 September 26, 2020 Saudi Arabia 8.0 % 99.8 % Morocco 62.5 % - Egypt 24.5 % - Other 5.0 % 0.2 % |
Note 1 - Company Operations (De
Note 1 - Company Operations (Details Textual) | Feb. 01, 2021USD ($) | Oct. 10, 2020USD ($) | Apr. 17, 2020USD ($) | Dec. 31, 2020h | Mar. 31, 2021USD ($) | Sep. 25, 2021USD ($) | Sep. 26, 2020USD ($) | Sep. 28, 2019USD ($) | May 06, 2021USD ($) |
Net Income (Loss) Attributable to Parent, Total | $ (1,088,386) | $ (910,650) | $ 631,426 | ||||||
Retained Earnings (Accumulated Deficit), Ending Balance | (4,153,967) | (3,065,581) | |||||||
Furlough Plan, Workweek Hours (Hour) | h | 24 | ||||||||
Proceeds from Issuance of Long-term Debt, Total | 1,000,000 | $ 150,000 | |||||||
Paycheck Protection Program CARES Act [Member] | |||||||||
Proceeds from Issuance of Long-term Debt, Total | $ 474,405 | $ 474,400 | $ 474,405 | ||||||
Debt Instrument, Term (Year) | 60 months | ||||||||
The SBA Loan [Member] | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.75% | 3.75% | |||||||
Proceeds from Issuance of Long-term Debt, Total | $ 150,000 | $ 150,000 | |||||||
Debt Instrument, Term (Year) | 30 years | 30 years | |||||||
Mr. Carl H. Guild [Member] | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,000,000 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | ||||||||
Notes Payable, Total | 1,000,000 | ||||||||
Interest Payable | $ 13,195 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 12 Months Ended | |
Sep. 25, 2021 | Sep. 26, 2020 | |
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 0 | $ 0 |
Impairment, Long-Lived Asset, Held-for-Use, Total | 0 | 0 |
Unrecognized Tax Benefits, Ending Balance | 0 | 0 |
Research and Development Expense, Total | 732,020 | 1,068,641 |
Cost of Sales [Member] | ||
Research and Development Arrangement, Contract to Perform for Others, Costs Incurred, Gross | 711,335 | 563,421 |
Fair Value, Inputs, Level 1, 2 and 3 [Member] | ||
Assets, Fair Value Disclosure | 0 | |
Fair Value, Nonrecurring [Member] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 | $ 0 |
Note 3 - Revenue - Disaggregati
Note 3 - Revenue - Disaggregation By Revenue Type (Details) - USD ($) | 12 Months Ended | |
Sep. 25, 2021 | Sep. 26, 2020 | |
Net revenue | $ 1,866,379 | $ 4,108,240 |
Engineering Services [Member] | ||
Net revenue | 1,106,709 | 913,446 |
Equipment Sales [Member] | ||
Net revenue | $ 759,670 | $ 3,194,794 |
Note 4 - Net Loss Per Share (De
Note 4 - Net Loss Per Share (Details Textual) - shares | 12 Months Ended | |
Sep. 25, 2021 | Sep. 26, 2020 | |
Share-based Payment Arrangement, Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 143,900 | 157,900 |
Note 5 - Stock Based Compensa_3
Note 5 - Stock Based Compensation (Details Textual) - USD ($) | 12 Months Ended | |||
Sep. 25, 2021 | Sep. 26, 2020 | May 06, 2021 | Sep. 28, 2019 | |
Share-based Payment Arrangement, Expense, Tax Benefit | $ 0 | $ 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | 34,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 2.67 | |||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 97,603 | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 4 months 2 days | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 143,900 | 157,900 | 231,337 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 14,226 | $ 11,860 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 0 | 0 | ||
Equity Incentive Plan 2021 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 300,000 | |||
Equity Incentive Plan 2021 [Member] | Share-based Payment Arrangement, Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |||
Equity Incentive Plan 2021 [Member] | Share-based Payment Arrangement, Option [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 0 years | |||
Equity Incentive Plan 2021 [Member] | Share-based Payment Arrangement, Option [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 5 years | |||
The 2005 Non-statutory Stock Option Plan and 2010 Equity Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 600,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 143,900 | |||
The 2005 Non-statutory Stock Option Plan and 2010 Equity Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |||
The 2005 Non-statutory Stock Option Plan and 2010 Equity Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 0 years | |||
The 2005 Non-statutory Stock Option Plan and 2010 Equity Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 5 years |
Note 5 - Stock Based Compensa_4
Note 5 - Stock Based Compensation - Assumptions for Estimated Fair Value of Options at Date of Grant (Details) | 12 Months Ended | |
Sep. 25, 2021 | Sep. 26, 2020 | |
Option life (years) (Year) | 6 years 6 months | 6 years 6 months |
Risk-free interest rate | 0.70% | 0.80% |
Stock volatility | 113.00% | 115.00% |
Dividend yield | 0.00% | 0.00% |
Note 5 - Stock Based Compensa_5
Note 5 - Stock Based Compensation - Stock-based Compensation Costs (Details) - USD ($) | 12 Months Ended | |
Sep. 25, 2021 | Sep. 26, 2020 | |
Stock-based compensation costs | $ 52,404 | $ 55,526 |
Selling, General and Administrative Expenses [Member] | ||
Stock-based compensation costs | 43,292 | 43,850 |
Product Development Expenses [Member] | ||
Stock-based compensation costs | $ 9,112 | $ 11,676 |
Note 5 - Stock Based Compensa_6
Note 5 - Stock Based Compensation - Stock Option Activity (Details) - $ / shares | 12 Months Ended | ||
Sep. 25, 2021 | Sep. 26, 2020 | Sep. 28, 2019 | |
Outstanding, unvested (in shares) | 71,600 | 59,400 | |
Outstanding, vested (in shares) | 86,300 | 171,937 | |
Outstanding (in shares) | 157,900 | 231,337 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 4.54 | $ 8 | |
Outstanding, weighted average contractual life (Year) | 5 years 11 months 19 days | 6 years 6 months 14 days | 3 years 11 months 26 days |
Grants, unvested (in shares) | 34,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | 34,000 | |
Grants, weighted average exercise price (in dollars per share) | $ 0 | $ 2.12 | |
Vested, unvested (in shares) | (21,900) | (21,800) | |
Vested, vested (in shares) | 21,900 | 21,800 | |
Vested, weighted average exercise price (in dollars per share) | $ 3.32 | $ 3.51 | |
Exercises, weighted average exercise price (in dollars per share) | $ 0 | $ 0 | |
Cancellations/forfeitures, vested (in shares) | 12,800 | (107,437) | |
Cancellations/forfeitures (in shares) | (14,000) | (107,437) | |
Cancellations/forfeitures, weighted average exercise price (in dollars per share) | $ 8.92 | $ 11.22 | |
Cancellations/forfeitures, unvested (in shares) | (1,200) | ||
Cancellations/forfeitures, vested (in shares) | (12,800) | 107,437 | |
Outstanding, unvested (in shares) | 48,500 | 71,600 | 59,400 |
Outstanding, vested (in shares) | 95,400 | 86,300 | 171,937 |
Outstanding (in shares) | 143,900 | 157,900 | 231,337 |
Outstanding, weighted average exercise price (in dollars per share) | $ 4.11 | $ 4.54 | $ 8 |
Note 5 - Stock Based Compensa_7
Note 5 - Stock Based Compensation - Information Related to Stock Options (Details) - $ / shares | 12 Months Ended | ||
Sep. 25, 2021 | Sep. 26, 2020 | Sep. 28, 2019 | |
Number of shares (in shares) | 143,900 | ||
Weighted-average remaining contractual life (Year) | 5 years 11 months 19 days | ||
Weighted average exercise price (in dollars per share) | $ 4.11 | $ 4.54 | $ 8 |
Exercisable number of shares (in shares) | 95,400 | ||
Exercisable weighted-average exercise price (in dollars per share) | $ 4.59 | ||
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) | 8 years 2 months 12 days | ||
Weighted average exercise price (in dollars per share) | $ 1.87 | ||
Exercisable number of shares (in shares) | 8,000 | ||
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) | 6 years 5 months 1 day | ||
Weighted average exercise price (in dollars per share) | $ 2.61 | ||
Exercisable number of shares (in shares) | 21,000 | ||
Exercisable weighted-average exercise price (in dollars per share) | $ 2.68 | ||
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) | 43,500 | ||
Weighted-average remaining contractual life (Year) | 7 years 6 months 29 days | ||
Weighted average exercise price (in dollars per share) | $ 3.60 | ||
Exercisable number of shares (in shares) | 24,600 | ||
Exercisable weighted-average exercise price (in dollars per share) | $ 3.60 | ||
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) | 2 years 8 months 26 days | ||
Weighted average exercise price (in dollars per share) | $ 4.34 | ||
Exercisable number of shares (in shares) | 16,500 | ||
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) | 22,500 | ||
Weighted-average remaining contractual life (Year) | 4 years 3 months 7 days | ||
Weighted average exercise price (in dollars per share) | $ 7.36 | ||
Exercisable number of shares (in shares) | 18,300 | ||
Exercisable weighted-average exercise price (in dollars per share) | $ 7.38 | ||
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) | 7,000 | ||
Weighted-average remaining contractual life (Year) | 7 months 9 days | ||
Weighted average exercise price (in dollars per share) | $ 10.20 | ||
Exercisable number of shares (in shares) | 7,000 | ||
Exercisable weighted-average exercise price (in dollars per share) | $ 10.20 |
Note 6 - Inventories - Schedule
Note 6 - Inventories - Schedule of Inventory (Details) - USD ($) | Sep. 25, 2021 | Sep. 26, 2020 |
Finished goods | $ 57,006 | $ 75,289 |
Work in process | 487,276 | 176,980 |
Raw materials and supplies | 613,100 | 649,782 |
Total inventories | $ 1,157,382 | $ 902,051 |
Note 7 - Equipment and Leaseh_3
Note 7 - Equipment and Leasehold Improvements (Details Textual) - USD ($) | 12 Months Ended | |
Sep. 25, 2021 | Sep. 26, 2020 | |
Depreciation, Depletion and Amortization, Nonproduction, Total | $ 14,328 | $ 22,148 |
Note 7 - Equipment and Leaseh_4
Note 7 - Equipment and Leasehold Improvements - Schedule of Equipment and Leasehold Improvements (Details) - USD ($) | 12 Months Ended | |
Sep. 25, 2021 | Sep. 26, 2020 | |
Total equipment and leasehold improvements | $ 4,543,183 | $ 4,595,152 |
Less accumulated depreciation and amortization | (4,538,782) | (4,576,423) |
Equipment and leasehold improvements, net | 4,401 | 18,729 |
Engineering and Manufacturing Equipment [Member] | ||
Total equipment and leasehold improvements | $ 2,149,280 | 2,181,649 |
Engineering and Manufacturing Equipment [Member] | Minimum [Member] | ||
Property, plant, and equipment, useful life (Year) | 3 years | |
Engineering and Manufacturing Equipment [Member] | Maximum [Member] | ||
Property, plant, and equipment, useful life (Year) | 8 years | |
Leasehold Improvements [Member] | ||
Total equipment and leasehold improvements | $ 494,509 | 494,509 |
Demonstration Equipment [Member] | ||
Total equipment and leasehold improvements | $ 834,137 | 845,541 |
Property, plant, and equipment, useful life (Year) | 3 years | |
Furniture and Fixtures [Member] | ||
Total equipment and leasehold improvements | $ 1,015,816 | 1,024,012 |
Furniture and Fixtures [Member] | Minimum [Member] | ||
Property, plant, and equipment, useful life (Year) | 3 years | |
Furniture and Fixtures [Member] | Maximum [Member] | ||
Property, plant, and equipment, useful life (Year) | 8 years | |
Vehicles [Member] | ||
Total equipment and leasehold improvements | $ 49,441 | $ 49,441 |
Property, plant, and equipment, useful life (Year) | 5 years |
Note 8 - Leases (Details Textua
Note 8 - Leases (Details Textual) - USD ($) | 12 Months Ended | ||
Sep. 25, 2021 | Sep. 26, 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 6 months | ||
Operating Lease, Expense | $ 171,000 | $ 171,000 |
Note 8 - Leases - Maturity of O
Note 8 - Leases - Maturity of Operating Lease Liability (Details) | Sep. 25, 2021USD ($) |
2022 | $ 170,603 |
2023 | 170,603 |
2024 | 85,301 |
Total lease payments | 426,507 |
Less: Imputed interest | (19,988) |
Total lease liability | $ 406,519 |
Note 9 - Debt (Details Textual)
Note 9 - Debt (Details Textual) - USD ($) | Feb. 01, 2021 | Oct. 10, 2020 | Apr. 17, 2020 | Mar. 31, 2021 | Sep. 25, 2021 | Sep. 26, 2020 | May 06, 2021 |
Proceeds from Issuance of Long-term Debt, Total | $ 1,000,000 | $ 150,000 | |||||
Mr. Carl H. Guild [Member] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,000,000 | ||||||
Notes Payable, Total | 1,000,000 | ||||||
Interest Payable | $ 13,195 | ||||||
Paycheck Protection Program CARES Act [Member] | |||||||
Proceeds from Issuance of Long-term Debt, Total | $ 474,405 | $ 474,400 | $ 474,405 | ||||
Debt Instrument, Term (Year) | 60 months | ||||||
The SBA Loan [Member] | |||||||
Proceeds from Issuance of Long-term Debt, Total | $ 150,000 | $ 150,000 | |||||
Debt Instrument, Periodic Payment, Total | $ 731 | ||||||
Debt Instrument, Term (Year) | 30 years | 30 years | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.75% | 3.75% |
Note 9 - Debt - Principal Matur
Note 9 - Debt - Principal Maturities of Long-term Debt (Details) | Sep. 25, 2021USD ($) |
2022 | $ 494 |
2023 | 3,032 |
2024 | 3,148 |
2025 | 3,268 |
2026 | 3,392 |
Thereafter | 136,666 |
Long-term Debt, Total | $ 150,000 |
Note 10 - Warranty (Details Tex
Note 10 - Warranty (Details Textual) | 12 Months Ended |
Sep. 25, 2021 | |
Standard Product Warranty Period (Month) | 15 months |
Note 10 - Warranty - Schedule o
Note 10 - Warranty - Schedule of Product Warranty Liability (Details) - USD ($) | 12 Months Ended | |
Sep. 25, 2021 | Sep. 26, 2020 | |
Beginning balance | $ 28,211 | $ 19,301 |
Plus: accruals related to new sales | 2,290 | 16,774 |
Less: payments and adjustments to prior period accruals | (16,737) | (7,864) |
Ending balance | $ 13,764 | $ 28,211 |
Note 11 - Income Taxes (Details
Note 11 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |
Sep. 25, 2021 | Sep. 26, 2020 | |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 599,030 | $ 16,429 |
Domestic Tax Authority [Member] | ||
Open Tax Year | 2017 2018 2019 2020 | |
Operating Loss Carryforwards, Total | $ 5,859,642 | |
Operating Loss Carry Forward Expiration Year | 2038 | |
Operating Loss Carryforwards, Not Subject to Expiration | $ 5,027,066 | |
Domestic Tax Authority [Member] | Research Tax Credit Carryforward [Member] | ||
Tax Credit Carryforward, Amount | $ 365,897 | |
Tax Credit Carry Forward Expiration Year | 2039 | |
State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards, Total | $ 9,271,700 | |
Operating Loss Carry Forward Expiration Year | 2040 | |
State and Local Jurisdiction [Member] | Research Tax Credit Carryforward [Member] | ||
Tax Credit Carryforward, Amount | $ 190,455 | |
Tax Credit Carry Forward Expiration Year | 2035 |
Note 11 - Income Taxes - Schedu
Note 11 - Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) | 12 Months Ended | |
Sep. 25, 2021 | Sep. 26, 2020 | |
Tax expense (benefit) at U.S. statutory rate, amount | $ (228,561) | $ (191,237) |
Tax expense (benefit) at U.S. statutory rate, percent | (21.00%) | (21.00%) |
State income tax provision, net of federal benefit, amount | $ (104,451) | $ (34,400) |
State income tax provision, net of federal benefit, percent | (9.60%) | (3.80%) |
Federal research credits, amount | $ 0 | $ 0 |
Federal research credits, percent | 0.00% | 0.00% |
Change in state income tax rate, amount | $ (160,738) | $ 241,432 |
Change in state income tax rate, percent | (14.80%) | 26.50% |
Other, amount | $ (105,280) | $ (27,557) |
Other, percent | (9.60%) | (3.00%) |
Valuation allowance, amount | $ 599,030 | $ 11,762 |
Valuation allowance, percent | 55.00% | 1.30% |
Total income tax expense (benefit), amount | $ 0 | $ 0 |
Total income tax expense (benefit), percent | 0.00% | 0.00% |
Note 11 - Income Taxes - Sche_2
Note 11 - Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) | Sep. 25, 2021 | Sep. 26, 2020 |
Inventory differences | $ 1,046,746 | $ 1,134,253 |
Net operating losses | 2,789,142 | 1,972,715 |
Stock based compensation | 133,173 | 120,684 |
Tax credits | 516,562 | 535,357 |
Other | 70,168 | 193,752 |
Total | 4,555,791 | 3,956,761 |
Less: valuation allowance | (4,555,791) | (3,956,761) |
Total | $ 0 | $ 0 |
Note 12 - Employee Benefit Pl_2
Note 12 - Employee Benefit Plans (Details Textual) - USD ($) | 12 Months Ended | |
Sep. 25, 2021 | Sep. 26, 2020 | |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 56,435 | $ 62,487 |
Accrued Bonuses | $ 0 | $ 0 |
Note 13 - Major Customers and_3
Note 13 - Major Customers and Export Revenue (Details Textual) | 12 Months Ended | |
Sep. 25, 2021 | Sep. 26, 2020 | |
Number of Countries in Which Products are Sold | 4 | 2 |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | ||
Number of Major Customers | 2 | 3 |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Two Customers [Member] | ||
Concentration Risk, Percentage | 74.00% | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer One [Member] | ||
Concentration Risk, Percentage | 59.00% | 44.00% |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer Two [Member] | ||
Concentration Risk, Percentage | 15.00% | 22.00% |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Three Customers [Member] | ||
Concentration Risk, Percentage | 85.00% | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer Three [Member] | ||
Concentration Risk, Percentage | 19.00% | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | ||
Number of Major Customers | 1 | 1 |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | One Customer [Member] | ||
Concentration Risk, Percentage | 97.00% | 99.00% |
Note 13 - Major Customers and_4
Note 13 - Major Customers and Export Revenue - Foreign and Domestic Net Sales (Details) - USD ($) | 12 Months Ended | |
Sep. 25, 2021 | Sep. 26, 2020 | |
Net revenue | $ 1,866,379 | $ 4,108,240 |
UNITED STATES | ||
Net revenue | 1,629,824 | 2,876,086 |
Non-US [Member] | ||
Net revenue | $ 236,555 | $ 1,232,154 |
Note 13 - Major Customers and_5
Note 13 - Major Customers and Export Revenue - Foreign Revenue (Details) | 12 Months Ended | |
Sep. 25, 2021 | Sep. 26, 2020 | |
Mid-East and Africa [Member] | ||
Foreign revenue by geographical area | 95.00% | 100.00% |
SAUDI ARABIA | ||
Foreign revenue by country | 8.00% | 99.80% |
Far East [Member] | ||
Foreign revenue by geographical area | 5.00% | 0.00% |
MOROCCO | ||
Foreign revenue by country | 62.50% | 0.00% |
EGYPT | ||
Foreign revenue by country | 24.50% | 0.00% |
Other Foreign Countries [Member] | ||
Foreign revenue by country | 5.00% | 0.20% |
Note 14 - Related Party Trans_2
Note 14 - Related Party Transactions (Details Textual) - USD ($) | Jul. 15, 2021 | Sep. 25, 2021 | May 06, 2021 |
Director [Member] | Unregistered Common Stock [Member] | |||
Stock Issued During Period, Shares, New Issues (in shares) | 4,000 | ||
Shares Issued, Price Per Share (in dollars per share) | $ 4 | ||
Mr. Carl H. Guild [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,000,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | ||
Notes Payable, Total | $ 1,000,000 | ||
Interest Payable | $ 13,195 |
Note 15 - Shareholder Rights _2
Note 15 - Shareholder Rights Plan (Details Textual) - Stockholder Rights Plan [Member] | Aug. 07, 2014$ / sharesshares |
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | shares | 1 |
Voting Power in Outstanding Stock Percentage | 15.00% |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 25 |
Redemption Value Per Redeemable Share at Period End (in dollars per share) | $ 0.001 |
Minimum [Member] | |
Voting Power in Outstanding Stock Percentage | 15.00% |
Note 17 - Subsequent Event (Det
Note 17 - Subsequent Event (Details Textual) - Mr. Carl H. Guild [Member] - USD ($) $ in Millions | Nov. 18, 2021 | May 06, 2021 |
Line of Credit Facility, Maximum Borrowing Capacity | $ 1 | |
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | |
Subsequent Event [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 2 | |
Debt Instrument, Interest Rate, Stated Percentage | 7.50% |