Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jul. 02, 2022
Jul. 03, 2021
Operating activities    
Net income (loss) $ 6,221 $ (650)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization expense 6,265 4,550
Amortization of intangible assets 55 55
Share-based compensation expense 4,498 7,272
Gain from disposition of assets (17)  
Amortization of deferred financing costs 21 9
Changes in operating assets and liabilities:    
Accounts receivable (2,070) (676)
Inventory (24,165) (24,649)
Other current assets (1,739) 1,316
Other non-current assets (741) 540
Accounts payable and accrued expenses 17,466 12,883
Other current liabilities (109) 42
Right-of-use obligation - operating leases - current (105) 430
Right-of-use obligation - operating leases - long-term (20) (76)
Other non-current liabilities (139) (77)
Net cash provided by operating activities 5,459 981
Investing activities    
Additions to property and equipment (7,797) (5,398)
Proceeds from sale of property and equipment 44  
Net cash used in investing activities (7,753) (5,398)
Financing activities    
Borrowings from revolving loan payable 5,296 90
Payments made on revolving loan payable (5,296) (90)
Payments on finance leases (1,966) (990)
Net proceeds from issuance of common stock for ESPP 432  
Statutory tax withholding payment for share-based compensation   (3)
Proceeds from exercise of stock options 929 2,779
Net cash (used in) provided by financing activities (605) 1,786
Effect of exchange rate changes on cash (21) (22)
Net change in cash and cash equivalents (2,920) (2,653)
Cash and cash equivalents, beginning of period 18,144 35,802
Cash and cash equivalents, end of period 15,224  
Supplemental disclosure of non-cash investing and financing activities:    
Right-of-use operating asset acquired   17
Right-of-use finance asset acquired 7,235 3,629
Accrued asset purchases 1,060 1,954
Share-based compensation expense capitalized in property and equipment 579 1,018
Stock issued for services 81 389
Supplemental disclosure of cash flow information:    
Cash paid during the period for income taxes 148 65
Cash paid during the period for interest 653 543
Director    
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Stock awards issued for non-employee director service 11 $ 12
Officers and directors    
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Stock awards issued for non-employee director service $ 27