Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Oct. 02, 2023
Jan. 02, 2023
Current Assets    
Cash $ 9,746 $ 11,917
Accounts receivable, net 1,229 1,926
Inventory 1,376 1,320
Assets held for sale 732 732
Prepaid expenses and other current assets 972 2,564
Total Current Assets 14,055 18,459
Property & equipment, net 17,987 19,371
Operating right-of-use assets, net 46,070 45,741
Goodwill 31,621 31,621
Intangible assets, net 153,091 160,208
Other assets 1,114 1,380
Total Assets 263,938 276,780
Current Liabilities    
Accounts payable - trade and other 8,216 8,464
Accrued expenses 8,179 10,589
Short-term operating lease liability 12,252 9,924
Short-term borrowings, including finance leases 3,539 4,985
Other current liabilities 2,700 6,241
Total Current Liabilities 34,886 40,203
Non-Current Liabilities    
Long-term borrowings, including finance leases 49,396 53,794
Redeemable preferred stock, $0.0001 par value, 10,000,000 shares authorized, 2,120,000 shares issued and outstanding as of October 2, 2023 and January 2, 2023, $53 million principal redemption value, respectively 54,545 51,418
Long-term operating lease liability 40,672 40,748
Related party note payable 14,450 9,235
Deferred income taxes 1,223 1,223
Other non-current liabilities 1,120 1,212
Total Liabilities 196,292 197,833
Commitments and Contingencies - Note 8
Stockholders' Equity    
Common stock, $ 0.0001 par value, 100,000,000 shares authorized, 26,805,474, and 22,257,772 shares issued and outstanding as of October 2, 2023 and January 2, 2023, respectively 2 2
Additional paid-in capital 314,905 306,096
Accumulated deficit (247,261) (227,151)
Total Stockholders' Equity 67,646 78,947
Total Liabilities and Stockholders' Equity $ 263,938 $ 276,780