Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Apr. 03, 2023
Jan. 02, 2023
Current Assets    
Cash $ 9,026,000 $ 11,917,000
Accounts receivable, net 1,971,000 1,926,000
Inventory 1,450,000 1,320,000
Assets held for sale 1,482,000 732,000
Prepaid expenses and other current assets 3,095,000 2,564,000
Total Current Assets 17,024,000 18,459,000
Property & equipment, net 19,120,000 19,371,000
Operating right-of-use assets, net 45,131,000 45,741,000
Goodwill 31,621,000 31,621,000
Intangible assets, net 157,335,000 160,208,000
Other assets 990,000 1,380,000
Total Assets 271,221,000 276,780,000
Current Liabilities    
Accounts payable - trade and other 8,797,000 8,464,000
Accrued expenses 8,698,000 10,589,000
Short-term operating lease liability 12,735,000 9,924,000
Short-term borrowings, including finance leases 3,490,000 4,985,000
Other current liabilities 2,983,000 6,241,000
Total Current Liabilities 36,703,000 40,203,000
Non-Current Liabilities    
Long-term borrowings, including finance leases 50,523,000 53,794,000
Redeemable preferred stock, $0.0001 par value, 10,000,000 shares authorized, 2,120,000 shares issued and outstanding as of April 3, 2023 and January 2, 2023, $53 million principal redemption value 52,439,000 51,418,000
Long-term operating lease liability 40,166,000 40,748,000
Related party note payable 14,374,000 9,235,000
Deferred income taxes 1,223,000 1,223,000
Other non-current liabilities 1,325,000 1,212,000
Total Liabilities 196,753,000 197,833,000
Commitments and Contingencies - Note 8
Stockholders' Equity    
Common stock, $0.0001 par value, 100,000,000 shares authorized, 23,823,105 and 22,257,772 shares issued and outstanding as of April 3, 2023 and January 2, 2023, respectively 2,000 2,000
Additional paid-in capital 310,768,000 306,096,000
Accumulated deficit (236,302,000) (227,151,000)
Total Stockholders' Equity 74,468,000 78,947,000
Total Liabilities and Stockholders' Equity $ 271,221,000 $ 276,780,000