Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.24.1.u1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jan. 01, 2024
Jan. 02, 2023
Current Assets    
Cash and cash equivalents $ 7,556 $ 11,917
Accounts receivable, net 1,368 1,926
Inventory 1,190 1,320
Asset held for sale 732 732
Prepaid expenses and other current assets 1,654 2,564
Total Current Assets 12,500 18,459
Property & equipment, net 16,121 19,371
Operating right-of-use assets, net 46,052 45,741
Goodwill 31,621 31,621
Intangible assets, net 150,856 160,208
Other assets 1,326 1,380
Total Assets 258,476 276,780
Current Liabilities    
Accounts payable - trade and other 7,093 8,464
Accrued expenses 8,537 10,589
Short-term operating lease liability 10,111 9,924
Other liabilities 4,117 6,241
Short-term borrowings, including finance leases 52,834 4,985
Total Current Liabilities 82,692 40,203
Non-Current Liabilities    
Long-term borrowings and Related party note payable 16,206 63,029
Redeemable preferred stock, $0.0001 par value, 10,000,000 shares authorized, 2,120,000 shares issued and outstanding, as of January 1, 2024 and January 2, 2023, $53 million principal redemption value 55,629 51,418
Long-term operating lease liability 44,631 40,748
Warrant liability 182 195
Other non-current liabilities 740 1,017
Deferred income taxes 1,146 1,223
Total Liabilities 201,226 197,833
Commitments and Contingencies - Note 7
Stockholders' Equity    
Common stock, $0.0001 par value, 100,000,000 shares authorized, 26,832,691 and 22,257,772 shares issued and outstanding as of January 1, 2024 and January 2, 2023, respectively 2 2
Additional paid-in capital 315,107 306,096
Accumulated deficit (257,859) (227,151)
Total Stockholders' Equity 57,250 78,947
Total Liabilities and Stockholders' Equity 258,476 276,780
Nonrelated Party    
Non-Current Liabilities    
Long-term borrowings and Related party note payable 1,718 53,794
Related Party    
Non-Current Liabilities    
Long-term borrowings and Related party note payable $ 14,488 $ 9,235