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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Dec. 27, 2020
Mar. 29, 2020
CURRENT ASSETS    
Cash and cash equivalents (Note F) $ 76,602,000 $ 77,117,000
Accounts and other receivables, net (Note H) 12,338,000 11,108,000
Inventories 415,000 378,000
Prepaid expenses and other current assets (Note I) 931,000 1,181,000
Total current assets 90,286,000 89,784,000
Property and equipment, net of accumulated depreciation of $10,283 and $9,468, respectively 4,193,000 4,610,000
Operating lease assets (Note R) 8,471,000 9,181,000
Goodwill 95,000 95,000
Intangible asset, net 1,184,000 1,269,000
Deferred income taxes 5,000 0
Other assets 329,000 343,000
Total assets 104,563,000 105,282,000
CURRENT LIABILITIES    
Accounts payable 3,785,000 3,509,000
Accrued expenses and other current liabilities (Note L) 5,169,000 9,297,000
Current portion of operating lease liabilities (Note R) 1,833,000 1,583,000
Deferred franchise fees 227,000 230,000
Total current liabilities 11,014,000 14,619,000
Long-term debt, net of unamortized debt issuance costs of $3,342 and $3,860, respectively (Note Q) 146,658,000 146,140,000
Operating lease liabilities (Note R) 7,722,000 8,532,000
Other liabilities (Note L) 743,000 696,000
Deferred franchise fees 1,553,000 1,687,000
Deferred income taxes 0 9,000
Total liabilities 167,690,000 171,683,000
COMMITMENTS AND CONTINGENCIES (Note S)
STOCKHOLDERS’ DEFICIT    
Common stock, $.01 par value; 30,000,000 shares authorized; 9,369,015 and 9,368,792 shares issued; and 4,114,934 and 4,141,387 shares outstanding at December 27, 2020 and March 29, 2020, respectively 94,000 94,000
Additional paid-in capital 62,211,000 62,130,000
(Accumulated deficit) (40,662,000) (45,356,000)
Stockholders’ equity before treasury stock 21,643,000 16,868,000
Treasury stock, at cost, 5,254,081 and 5,227,405 shares at December 27, 2020 and March 29, 2020 (84,770,000) (83,269,000)
Total stockholders’ deficit (63,127,000) (66,401,000)
Total liabilities and stockholders’ deficit $ 104,563,000 $ 105,282,000