Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Jan. 01, 2022
Jan. 02, 2021
Dec. 28, 2019
Operating activities      
Net loss $ (10,339) $ (1,513) $ (31,548)
Adjustments to reconcile net loss to net cash (used) provided by operating activities:      
Depreciation and amortization expense 9,895 7,657 6,252
Amortization of intangible assets 110 102 100
Deferred income taxes     21,287
Share-based compensation expense 15,685 7,778 3,656
Stock awards issued for non-employee director service 23 24 19
Loss from disposition of assets 52    
Amortization of deferred financing costs 18 18 1
Changes in operating assets and liabilities:      
Accounts receivable 1,303 (3,650) 1,058
Inventory (49,535) (36,815) (2,874)
Other current assets 1,340 (2,983) (1,527)
Other non-current assets 551 (1,056) 166
Accounts payable and accrued expenses 22,436 8,398 9,953
Other current liabilities 374 1,120 (99)
Right-of-use obligation - operating leases - current 1,696 1,143 1,364
Right-of-use obligation - operating leases - long-term (836) (321) (1,121)
Other non-current liabilities 239 1,030 190
Net cash (used) provided by operating activities (6,988) (19,068) 6,877
Investing activities      
Additions to property and equipment (11,578) (9,657) (6,160)
Payment for intangible assets   (101)  
Proceeds from sale of property and equipment 27    
Net cash used in investing activities (11,551) (9,758) (6,160)
Financing activities      
Borrowings from revolving loan payable 131 1,415 14,626
Payments made on revolving loan payable (131) (1,415) (14,626)
Proceeds from notes payable   4,107 257
Payments of notes payable   (5,333) (130)
Repurchase of treasury stock (524)    
Payments on finance leases (2,164) (1,005) (670)
Net proceeds from issuance of common stock   60,461  
Statutory tax withholding payment for share-based compensation (3) (93) (302)
Proceeds from exercise of stock options 3,661 4,257 460
Payments of issuance costs of common stock (68)    
Preferred stock dividends paid 0 (33) (80)
Net cash provided by (used in) financing activities 902 62,361 (465)
Effect of exchange rate changes on cash (21) (6) (10)
Net change in cash and cash equivalents (17,658) 33,529 242
Cash and cash equivalents, beginning of period 35,802 2,273 2,031
Cash and cash equivalents, end of period 18,144 35,802 2,273
Supplemental disclosure of non-cash investing and financing activities:      
Right-of-use operating asset acquired 15,000 15,508 1,098
Right-of-use finance asset acquired 4,975 4,766 947
Accrued asset purchases 1,764 1,822 720
Share-based compensation expense capitalized in property and equipment 2,159 659 55
Stock issued for services 778    
Fixed asset purchased through note payable     1,919
Supplemental disclosure of cash flow information:      
Cash paid during the period for income taxes 88 135 95
Cash paid during the period for interest $ 1,102 $ 1,834 $ 1,896