Quarterly report pursuant to Section 13 or 15(d)

Note 5 - Capital Stock

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Note 5 - Capital Stock
 3 Months Ended
Apr. 03, 2016
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
5
.
Capital stock
 
 
Common shares
 
Issued and outstanding:
 
The issued and outstanding number of common shares included in shareholders’ equity consisted of the following:
 
 
 
Number

of shares
 
 
 
$ 
 
                 
Balance at January 3, 2016
    16,417,276     $ 391  
Share issuance
     25,125       —  
Balance at April 3, 2016
     16,510,180       391  
Total Common Shares
     16,510,180     $ 391  
 
 
 
Stock Options
 
For more detailed information regarding the Company’s stock option arrangements, see Note 6 of the consolidated financial statements within the Company’s Form 10-K for the fiscal period ended January 3, 2016. New stock options of 155,403 were granted during the three month period ended April 3, 2016. A summary of stock option activity for the three month period ended April 3, 2016 is as follows:
 
 
 
Number

of options
 
 
Weighted
average
exercise
price
 
 
Aggregate
intrinsic
value
 
 
Weighted
average
remaining
contractual
term (years)
 
Outstanding at January 3, 2016
     655,114     $ 1.98       —       6.5  
                                 
Options granted
     155,403     $ 1.34                  
Forfeited
     (18,603
)
   $ 3.14                  
Outstanding at April 3, 2016
     791,914     $ 1.85     $ —       6.97  
Exercisable at April 3, 2016
     394,098     $ 2.07     $ —       5.32  
 
During the three month periods ended April 3, 2016 and March 29, 2015, the Company recorded stock-based compensation expense and a corresponding increase in additional paid-in capital of $21 and $33, respectively.
 
 
Restricted Stock Units
 
For more detailed information regarding the Company’s Restricted Stock Units (“RSU”) arrangements, see Note 6 of the consolidated financial statements within the Company’s Form 10-K for the fiscal period ended January 3, 2016. There were 595,339 RSU’s granted during the three months ended April 3, 2016. A summary of the RSU activity for the three month period ended April 3, 2016 is as follows:
 
 
 
 
Outstanding
RSU
 
 
Weighted
average
stock
price
 
 
Weighted
average
remaining
contractual
term (years)
 
Outstanding balance at January 3, 2016
     479,564     $ 1.88       1.51  
RSU forfeited
     (11,111
)
   $ 1.80          
RSU vested and issued in shares
     (25,125
)
     1.99          
RSU granted
     595,339       1.33          
Outstanding balance at April 3, 2016
     1,038,669     $ 1.56       1.91  
 
 
Certain RSUs granted during the first quarter of 2016 have a market condition such that the awards are vested and issuable only if the market price of the Company’s stock meets or exceeds a specified target during the vesting period. If the market condition is not met, the RSUs will not vest and will be forfeited.
 
Stock based compensation recognized during the three month period ended April 3, 2016 and March 29, 2015 related to the restricted stock units was $75 and $57.