Note 14 - Subsequent Event

6 Months Ended

Jun. 28, 2025

Notes to Financial Statements

Subsequent Events [Text Block]

14. Subsequent Event

One Big Beautiful Bill Act

On July 4, 2025, the President signed into law the One Big Beautiful Bill Act (the “Act”), which introduced significant changes to the U.S. federal income tax code. The Act includes provisions affecting corporate tax rates on specified eligible income, timing of tax deductibility of depreciation, interest expense and research and development costs, and the taxation of foreign income. The effects of these changes will be recognized in the period in which the legislation was enacted. We currently do not expect the Act to have a material impact on our financial statements provided we maintain a valuation allowance on the majority of our net operating losses and other US federal deferred tax assets. We will continue to evaluate the broader implications of the Act, including the potential effects of future regulatory guidance and interpretations. Additional adjustments may be required in periods subsequent to enactment as further information becomes available.