Quarterly report pursuant to Section 13 or 15(d)

Note 5 - Capital Stock

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Note 5 - Capital Stock
 9 Months Ended
Oct. 02, 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 October 2, 2016
     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. Stock options of 155,403 were granted during the nine month period ended October 2, 2016. A summary of stock option activity for the nine month period ended October 2, 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                  
Expired
     (61,757
)
   $ 3.46                  
Forfeited
     (18,603
)
   $ 3.14                  
Outstanding at October 2, 2016
     730,157     $ 1.76     $ 19       6.9  
Exercisable at October 2, 2016
     365,673     $ 1.92     $ —       5.1  
 
During the three month periods ended October 2, 2016 and September 27, 2015, the Company recorded stock-based compensation expense and a corresponding increase in additional paid-in capital of $20 and $45, respectively. During the nine month periods ended October 2, 2016 and September 27, 2015, the Company recorded stock-based compensation expense and a corresponding increase in additional paid-in capital of $62 and $122, 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. RSU’s of 595,339 were issued during the nine months ended October 2, 2016. A summary of the RSU activity for the nine month period ended October 2, 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       0.7  
RSU granted
     595,339     $ 0.68          
RSU forfeited
     (20,066
)
   $ 1.14          
RSU vested and issued in common shares
     (25,125
)
   $ 1.99          
Outstanding balance at April 3, 2016
     1,029,714     $ 1.15       1.1  
 
 
Certain RSUs granted during 2014 and 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 October 2, 2016 and September 27, 2015 related to the restricted stock units was $99 and $81. Stock based compensation recognized during the nine month period ended October 2, 2016 and September 27, 2015 related to the restricted stock units was $281 and $222.