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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Kopin Corporation | NASDAQ:KOPN | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.0258 | 3.21% | 0.8299 | 0.81 | 0.83 | 0.87 | 0.7816 | 0.8292 | 2,011,998 | 00:53:51 |
|
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x
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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¨
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
|
|
|
|
Delaware
|
|
04-2833935
|
State or other jurisdiction of
incorporation or organization
|
|
(I.R.S. Employer
Identification No.)
|
|
|
|
125 North Drive, Westborough, MA
|
|
01581-3335
|
(Address of principal executive offices)
|
|
(Zip Code)
|
|
|
Large accelerated filer
|
|
¨
|
Accelerated filer
|
|
x
|
Non-accelerated filer
|
|
¨
|
Smaller reporting company
|
|
¨
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Emerging growth company
|
|
¨
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Class
|
Outstanding as of May 5, 2017
|
|
|
Common Stock, par value $.01
|
75,195,363
|
|
|
|
|
|
|
Page
No.
|
|
||
Item 1.
|
||
|
Condensed Consolidated Balance Sheets at April 01, 2017 (Unaudited) and December 31, 2016
|
|
|
Condensed Consolidated Statements of Operations (Unaudited) for the three months ended April 01, 2017 and March 26, 2016
|
|
|
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) for the three months ended April 01, 2017 and March 26, 2016
|
|
|
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) for the three months ended April 01, 2017
|
|
|
Condensed Consolidated Statements of Cash Flows (Unaudited) for the three months ended April 01, 2017 and March 26, 2016
|
|
|
Notes to
Unaudited Condensed Consolidated Financial Statements
|
|
Item 2.
|
||
Item 3.
|
||
Item 4.
|
||
|
|
|
Item 1.
|
||
Item 1A.
|
||
Item 2.
|
||
Item 6.
|
||
|
Item 1:
|
Condensed Consolidated Financial Statements (Unaudited)
|
|
April 1,
2017 |
|
December 31,
2016 |
||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and equivalents
|
$
|
18,393,066
|
|
|
$
|
15,822,495
|
|
Marketable debt securities, at fair value
|
49,357,503
|
|
|
61,375,401
|
|
||
Accounts receivable, net of allowance of $136,000 in 2017 and 2016
|
2,390,660
|
|
|
1,664,488
|
|
||
Unbilled receivables
|
—
|
|
|
34,707
|
|
||
Inventory
|
4,194,821
|
|
|
3,302,112
|
|
||
Prepaid taxes
|
116,921
|
|
|
341,144
|
|
||
Prepaid expenses and other current assets
|
1,147,074
|
|
|
853,757
|
|
||
Total current assets
|
75,600,045
|
|
|
83,394,104
|
|
||
Property, plant and equipment, net
|
2,999,590
|
|
|
2,976,006
|
|
||
Goodwill
|
2,326,948
|
|
|
844,023
|
|
||
Intangible assets, net
|
2,302,364
|
|
|
—
|
|
||
Other assets
|
823,746
|
|
|
618,139
|
|
||
Total assets
|
$
|
84,052,693
|
|
|
$
|
87,832,272
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Accounts payable
|
$
|
3,878,123
|
|
|
$
|
4,355,462
|
|
Accrued payroll and expenses
|
2,393,195
|
|
|
1,443,976
|
|
||
Accrued warranty
|
736,000
|
|
|
518,000
|
|
||
Billings in excess of revenue earned
|
1,134,558
|
|
|
981,761
|
|
||
Other accrued liabilities
|
3,358,760
|
|
|
2,560,144
|
|
||
Income tax payable
|
936,866
|
|
|
935,364
|
|
||
Deferred tax liabilities
|
2,686,000
|
|
|
2,571,000
|
|
||
Total current liabilities
|
15,123,502
|
|
|
13,365,707
|
|
||
Asset retirement obligations
|
251,186
|
|
|
246,922
|
|
||
Commitments and contingencies
|
|
|
|
||||
Stockholders’ equity:
|
|
|
|
||||
Preferred stock, par value $.01 per share: authorized, 3,000 shares; none issued
|
—
|
|
|
—
|
|
||
Common stock, par value $.01 per share: authorized, 120,000,000 shares; issued 79,708,618
shares in 2017 and 79,648,618 shares in 2016; outstanding 64,538,686 shares in 2017 and 64,538,686 shares in 2016
|
766,409
|
|
|
766,409
|
|
||
Additional paid-in capital
|
329,337,949
|
|
|
328,524,644
|
|
||
Treasury stock (12,102,258 shares in 2017 and 2016, at cost)
|
(42,741,551
|
)
|
|
(42,741,551
|
)
|
||
Accumulated other comprehensive income
|
3,132,503
|
|
|
1,570,971
|
|
||
Accumulated deficit
|
(221,901,228
|
)
|
|
(214,042,787
|
)
|
||
Total Kopin Corporation stockholders’ equity
|
68,594,082
|
|
|
74,077,686
|
|
||
Noncontrolling interest
|
83,923
|
|
|
141,957
|
|
||
Total stockholders’ equity
|
68,678,005
|
|
|
74,219,643
|
|
||
Total liabilities and stockholders’ equity
|
$
|
84,052,693
|
|
|
$
|
87,832,272
|
|
|
Three Months Ended
|
||||||
|
April 1,
2017 |
|
March 26,
2016 |
||||
Revenues:
|
|
|
|
||||
Net product revenues
|
$
|
3,933,142
|
|
|
$
|
5,978,134
|
|
Research and development revenues
|
444,985
|
|
|
141,004
|
|
||
|
4,378,127
|
|
|
6,119,138
|
|
||
Expenses:
|
|
|
|
||||
Cost of product revenues
|
3,117,357
|
|
|
4,636,041
|
|
||
Research and development
|
4,281,870
|
|
|
4,039,951
|
|
||
Selling, general and administration
|
5,641,684
|
|
|
3,760,849
|
|
||
|
13,040,911
|
|
|
12,436,841
|
|
||
Loss from operations
|
(8,662,784
|
)
|
|
(6,317,703
|
)
|
||
Other income and expense:
|
|
|
|
||||
Interest income
|
233,777
|
|
|
164,948
|
|
||
Other income (expense), net
|
534,411
|
|
|
(39,093
|
)
|
||
Foreign currency transaction (losses)
|
(1,191,283
|
)
|
|
(501,940
|
)
|
||
|
(423,095
|
)
|
|
(376,085
|
)
|
||
Loss before benefit (provision) for income taxes and net loss (income) attributable to noncontrolling interest
|
(9,085,879
|
)
|
|
(6,693,788
|
)
|
||
Tax benefit (provision)
|
1,146,000
|
|
|
(141,000
|
)
|
||
Net loss
|
(7,939,879
|
)
|
|
(6,834,788
|
)
|
||
Net loss (income) attributable to the noncontrolling interest
|
81,438
|
|
|
(98,673
|
)
|
||
Net loss attributable to the controlling interest
|
$
|
(7,858,441
|
)
|
|
$
|
(6,933,461
|
)
|
Net loss per share
|
|
|
|
||||
Basic
|
$
|
(0.12
|
)
|
|
$
|
(0.11
|
)
|
Diluted
|
$
|
(0.12
|
)
|
|
$
|
(0.11
|
)
|
Weighted average number of common shares outstanding
|
|
|
|
||||
Basic
|
64,538,686
|
|
|
63,978,048
|
|
||
Diluted
|
64,538,686
|
|
|
63,978,048
|
|
|
Three Months Ended
|
||||||
|
April 1, 2017
|
|
March 26, 2016
|
||||
Net loss
|
$
|
(7,939,879
|
)
|
|
$
|
(6,834,788
|
)
|
Other comprehensive income:
|
|
|
|
||||
Foreign currency translation adjustments
|
1,597,406
|
|
|
736,184
|
|
||
Unrealized holding (losses) gains on marketable securities
|
(11,314
|
)
|
|
317,510
|
|
||
Reclassification of holding (losses) gains in net loss
|
(1,156
|
)
|
|
4,167
|
|
||
Other comprehensive income
|
1,584,936
|
|
|
1,057,861
|
|
||
Comprehensive loss
|
$
|
(6,354,943
|
)
|
|
$
|
(5,776,927
|
)
|
Comprehensive income attributable to the noncontrolling interest
|
58,034
|
|
|
66,645
|
|
||
Comprehensive loss attributable to controlling interest
|
$
|
(6,296,909
|
)
|
|
$
|
(5,710,282
|
)
|
|
Common Stock
|
|
Additional
Paid-in Capital
|
|
Treasury Stock
|
|
Accumulated
Other
Comprehensive Income
|
|
Accumulated Deficit
|
|
Total Kopin
Corporation
Stockholders’ Equity
|
|
Noncontrolling Interest
|
|
Total
Stockholders’ Equity
|
|||||||||||||||||||
|
Shares
|
|
Amount
|
|
|
|
|
|
|
|
||||||||||||||||||||||||
Balance, December 31, 2016
|
76,640,943
|
|
|
$
|
766,409
|
|
|
$
|
328,524,644
|
|
|
$
|
(42,741,551
|
)
|
|
$
|
1,570,971
|
|
|
$
|
(214,042,787
|
)
|
|
$
|
74,077,686
|
|
|
$
|
141,957
|
|
|
$
|
74,219,643
|
|
Stock-based compensation
|
—
|
|
|
—
|
|
|
813,305
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
813,305
|
|
|
—
|
|
|
813,305
|
|
||||||||
Other comprehensive income
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,561,532
|
|
|
—
|
|
|
1,561,532
|
|
|
23,404
|
|
|
1,584,936
|
|
||||||||
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(7,858,441
|
)
|
|
(7,858,441
|
)
|
|
(81,438
|
)
|
|
(7,939,879
|
)
|
||||||||
Balance, April 1, 2017
|
76,640,943
|
|
|
$
|
766,409
|
|
|
$
|
329,337,949
|
|
|
$
|
(42,741,551
|
)
|
|
$
|
3,132,503
|
|
|
$
|
(221,901,228
|
)
|
|
$
|
68,594,082
|
|
|
$
|
83,923
|
|
|
$
|
68,678,005
|
|
|
Three months ended
|
||||||
|
April 1,
2017 |
|
March 26,
2016 |
||||
Cash flows from operating activities:
|
|
|
|
||||
Net loss
|
$
|
(7,939,879
|
)
|
|
$
|
(6,834,788
|
)
|
Adjustments to reconcile net loss to net cash used in operating activities:
|
|
|
|
||||
Depreciation and amortization
|
443,174
|
|
|
335,478
|
|
||
Accretion (amortization) of premium or discount on marketable debt securities
|
27,256
|
|
|
37,971
|
|
||
Stock-based compensation
|
1,292,105
|
|
|
56,454
|
|
||
Foreign currency losses
|
1,190,199
|
|
|
485,294
|
|
||
Unrealized gain on warrant
|
(274,000
|
)
|
|
—
|
|
||
Deferred income taxes
|
(1,168,962
|
)
|
|
123,000
|
|
||
Other non-cash items
|
129,884
|
|
|
94,050
|
|
||
Changes in assets and liabilities, net of acquired assets and liabilities:
|
|
|
|
||||
Accounts receivable
|
(210,823
|
)
|
|
(123,073
|
)
|
||
Inventory
|
(249,340
|
)
|
|
(306,431
|
)
|
||
Prepaid expenses and other current assets
|
(22,082
|
)
|
|
541,455
|
|
||
Accounts payable and accrued expenses
|
10,736
|
|
|
98,847
|
|
||
Billings in excess of revenue earned
|
152,797
|
|
|
(77,580
|
)
|
||
Net cash used in operating activities
|
(6,618,935
|
)
|
|
(5,569,323
|
)
|
||
Cash flows from investing activities:
|
|
|
|
||||
Other assets
|
(12,346
|
)
|
|
(92,276
|
)
|
||
Capital expenditures
|
(297,983
|
)
|
|
(223,520
|
)
|
||
Proceeds from sale of marketable debt securities
|
13,519,291
|
|
|
11,229,734
|
|
||
Purchase of marketable debt securities
|
(948,637
|
)
|
|
(13,474,384
|
)
|
||
Deposits on property and plant held for sale
|
—
|
|
|
791,623
|
|
||
Cash paid for acquisition, net of cash acquired
|
(3,247,397
|
)
|
|
—
|
|
||
Proceeds from sale of III-V product line
|
—
|
|
|
15,000,000
|
|
||
Net cash provided by investing activities
|
9,012,928
|
|
|
13,231,177
|
|
||
Cash flows from financing activities:
|
|
|
|
||||
Settlements of restricted stock for tax withholding obligations
|
—
|
|
|
(1,500
|
)
|
||
Net cash used in financing activities
|
—
|
|
|
(1,500
|
)
|
||
Effect of exchange rate changes on cash
|
176,578
|
|
|
191,088
|
|
||
Net increase in cash and equivalents
|
2,570,571
|
|
|
7,851,442
|
|
||
Cash and equivalents:
|
|
|
|
||||
Beginning of period
|
15,822,495
|
|
|
19,767,889
|
|
||
End of period
|
$
|
18,393,066
|
|
|
$
|
27,619,331
|
|
Supplemental disclosure of cash flow information:
|
|
|
|
||||
Supplemental schedule of noncash investing activities:
|
|
|
|
||||
Construction in progress included in accrued expenses
|
$
|
—
|
|
|
$
|
136,000
|
|
1.
|
BASIS OF PRESENTATION
|
2.
|
CASH AND EQUIVALENTS AND MARKETABLE SECURITIES
|
|
Amortized Cost
|
|
Unrealized Gains
|
|
Unrealized Losses
|
|
Fair Value
|
||||||||||||||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||||||||||
U.S. government and agency backed securities
|
$
|
35,116,536
|
|
|
$
|
36,343,817
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
(201,268
|
)
|
|
$
|
(252,556
|
)
|
|
$
|
34,915,268
|
|
|
$
|
36,091,261
|
|
Corporate debt and certificates of deposit
|
14,475,561
|
|
|
25,323,428
|
|
|
—
|
|
|
—
|
|
|
(33,326
|
)
|
|
(39,288
|
)
|
|
14,442,235
|
|
|
25,284,140
|
|
||||||||
Total
|
$
|
49,592,097
|
|
|
$
|
61,667,245
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
(234,594
|
)
|
|
$
|
(291,844
|
)
|
|
$
|
49,357,503
|
|
|
$
|
61,375,401
|
|
|
Less than
One year
|
|
One to
Five years
|
|
Greater than
Five years
|
|
Total
|
||||||||
U.S. government and agency backed securities
|
$
|
15,495,380
|
|
|
$
|
15,501,588
|
|
|
$
|
3,918,300
|
|
|
$
|
34,915,268
|
|
Corporate debt and certificates of deposit
|
13,484,735
|
|
|
957,500
|
|
|
—
|
|
|
14,442,235
|
|
||||
Total
|
$
|
28,980,115
|
|
|
$
|
16,459,088
|
|
|
$
|
3,918,300
|
|
|
$
|
49,357,503
|
|
3.
|
FAIR VALUE MEASUREMENTS
|
4.
|
INVENTORY
|
|
April 1,
2017 |
|
December 31,
2016 |
||||
Raw materials
|
$
|
2,119,312
|
|
|
$
|
1,986,491
|
|
Work-in-process
|
1,677,043
|
|
|
1,186,162
|
|
||
Finished goods
|
398,466
|
|
|
129,459
|
|
||
|
$
|
4,194,821
|
|
|
$
|
3,302,112
|
|
5.
|
NET LOSS PER SHARE
|
|
Three Months Ended
|
||||
|
April 1, 2017
|
|
March 26, 2016
|
||
Non-vested restricted common stock
|
3,067,674
|
|
|
2,694,016
|
|
6.
|
STOCK-BASED COMPENSATION
|
|
Shares
|
|
Weighted
Average Grant Fair Value |
|||
Balance, December 31, 2016
|
3,007,674
|
|
|
$
|
3.21
|
|
Granted
|
60,000
|
|
|
3.43
|
|
|
Forfeited
|
—
|
|
|
—
|
|
|
Vested
|
—
|
|
|
—
|
|
|
Balance, April 1, 2017
|
3,067,674
|
|
|
$
|
3.22
|
|
|
Three Months Ended
|
||||||
|
April 1,
2017 |
|
March 26,
2016 |
||||
Cost of component revenues
|
$
|
104,092
|
|
|
$
|
142,534
|
|
Research and development
|
218,558
|
|
|
116,895
|
|
||
Selling, general and administrative
|
969,455
|
|
|
(202,975
|
)
|
||
Total
|
$
|
1,292,105
|
|
|
$
|
56,454
|
|
7.
|
NOTE RECEIVABLE
|
8.
|
ACCRUED WARRANTY
|
Balance, December 31, 2016
|
$
|
518,000
|
|
Additions
|
100,000
|
|
|
Additions from acquisition
|
218,000
|
|
|
Claims
|
(100,000
|
)
|
|
Balance, April 1, 2017
|
$
|
736,000
|
|
9.
|
INCOME TAXES
|
10.
|
BUSINESS COMBINATION
|
|
|
||
Cash and marketable securities
|
$
|
2,600
|
|
Accounts receivable
|
490,700
|
|
|
Inventory
|
768,400
|
|
|
Other identifiable assets
|
46,800
|
|
|
Order backlog
|
840,000
|
|
|
Customer relationships
|
1,000,000
|
|
|
Developed technology
|
460,000
|
|
|
Trademark portfolio
|
160,000
|
|
|
Current liabilities
|
(480,500
|
)
|
|
Net deferred tax liabilities
|
(1,084,000
|
)
|
|
Goodwill
|
1,477,000
|
|
|
Total
|
$
|
3,681,000
|
|
|
Kopin
|
|
Industrial
|
|
Total
|
||||||
Balance, December 31, 2016
|
$
|
844,023
|
|
|
$
|
—
|
|
|
$
|
844,023
|
|
March 2017 acquisition
|
—
|
|
|
1,477,000
|
|
|
1,477,000
|
|
|||
Change due to exchange rate fluctuations
|
5,925
|
|
|
—
|
|
|
5,925
|
|
|||
Balance, April 1, 2017
|
$
|
849,948
|
|
|
$
|
1,477,000
|
|
|
$
|
2,326,948
|
|
Order backlog
|
1
|
|
Customer relationships
|
2
|
|
Developed technology
|
2
|
|
Trademark portfolio
|
2
|
|
|
Three Months Ended
|
||||||||||
|
April 01, 2017
|
||||||||||
|
Kopin
|
|
Industrial
|
|
Total
|
||||||
|
|
|
|
|
|
||||||
Revenues
|
$
|
2,959
|
|
|
$
|
1,419
|
|
|
$
|
4,378
|
|
Net loss attributable to the controlling interest
|
(7,911
|
)
|
|
53
|
|
|
(7,858
|
)
|
|||
Total assets
|
76,612
|
|
|
7,441
|
|
|
84,053
|
|
|||
Long-lived assets
|
2,968
|
|
|
32
|
|
|
3,000
|
|
|
Three Months Ended
|
||||||||||
|
March 26, 2016
|
||||||||||
|
Kopin
|
|
Industrial
|
|
Total
|
||||||
|
|
|
|
|
|
||||||
Revenues
|
$
|
5,148
|
|
|
$
|
971
|
|
|
$
|
6,119
|
|
Net loss attributable to the controlling interest
|
(6,571
|
)
|
|
(346
|
)
|
|
(6,917
|
)
|
|||
Total assets
|
99,811
|
|
|
1,512
|
|
|
101,323
|
|
|||
Long-lived assets
|
2,695
|
|
|
18
|
|
|
2,713
|
|
|||
Property and Plant held for sale
|
861
|
|
|
—
|
|
|
861
|
|
|
Three Months Ended
|
||||
|
April 1, 2017
|
|
March 26, 2016
|
||
United States
|
49
|
%
|
|
29
|
%
|
Others
|
—
|
%
|
|
—
|
%
|
Americas
|
49
|
%
|
|
29
|
%
|
Asia-Pacific
|
28
|
%
|
|
51
|
%
|
Europe
|
23
|
%
|
|
20
|
%
|
Total Revenues
|
100
|
%
|
|
100
|
%
|
12.
|
LITIGATION
|
|
Sales
|
|
Purchases
|
||||
Affiliate 1
|
$
|
—
|
|
|
$
|
9,000
|
|
Affiliate 2
|
$
|
62,000
|
|
|
$
|
—
|
|
|
$
|
62,000
|
|
|
$
|
9,000
|
|
|
Receivables
|
|
Payables
|
||||
Affiliate 1
|
$
|
—
|
|
|
$
|
1,000
|
|
Affiliate 2
|
$
|
27,000
|
|
|
$
|
—
|
|
|
$
|
27,000
|
|
|
$
|
1,000
|
|
14.
|
IMMATERIAL RESTATEMENT
|
15.
|
SUBSEQUENT EVENTS
|
Item 2:
|
Management’s Discussion and Analysis of Financial Condition and Results of Operations
|
•
|
Consumer-oriented headsets which resemble typical eyeglasses but include voice and audio capabilities allowing the user to communicate with other users and a Pupil display module;
|
•
|
Augmented reality health and fitness sunglasses, called Solos™, that have voice and audio capabilities, a Pupil display module which overlays situational information on the glasses, our Whisper Chip; and an
|
•
|
Industrial headset reference design, which is essentially a complete head-worn computer that includes an optical pod with one of our display products, a microprocessor, battery, camera, memory and various commercially available software packages that we license.
|
•
|
Professional virtual reality systems that allow customers to visualize and interact with simulated 3D environments.
|
|
Three Months Ended
|
||||||
Display Revenues by Application
|
April 1, 2017
|
|
March 26, 2016
|
||||
Wearable
|
$
|
0.7
|
|
|
$
|
2.6
|
|
Military
|
0.9
|
|
|
1.5
|
|
||
Industrial
|
1.9
|
|
|
1.1
|
|
||
Consumer
|
0.5
|
|
|
0.8
|
|
||
Research & Development
|
0.4
|
|
|
0.1
|
|
||
Total
|
$
|
4.4
|
|
|
$
|
6.1
|
|
|
Three Months Ended
|
||||||
|
April 1, 2017
|
|
March 26, 2016
|
||||
Cost of product revenues (in millions):
|
$
|
3.1
|
|
|
$
|
4.7
|
|
Cost of product revenues as a % of net product revenues
|
79.3
|
%
|
|
77.7
|
%
|
|
Three Months Ended
|
||||||
|
April 1, 2017
|
|
March 26, 2016
|
||||
Funded
|
$
|
0.9
|
|
|
$
|
0.1
|
|
Internal
|
3.4
|
|
|
3.9
|
|
||
Total research and development expense
|
$
|
4.3
|
|
|
$
|
4.0
|
|
|
Three Months Ended
|
||||||
|
April 1, 2017
|
|
March 26, 2016
|
||||
Selling, general and administration expense (in millions):
|
$
|
5.6
|
|
|
$
|
3.8
|
|
Selling, general and administration expense as a % of revenues
|
128.7
|
%
|
|
61.5
|
%
|
|
Three Months Ended
|
||||||
|
April 1, 2017
|
|
March 26, 2016
|
||||
Other expense (in millions):
|
$
|
(0.4
|
)
|
|
$
|
(0.3
|
)
|
|
|
||
Domestic
|
$
|
47,270,419
|
|
Foreign
|
9,471,542
|
|
|
Subtotal cash and marketable debt securities
|
56,741,961
|
|
|
Cash and marketable debt securities held in other currencies and converted to U.S. dollars
|
11,008,609
|
|
|
Total cash and marketable debt securities
|
$
|
67,750,570
|
|
Contractual Obligations
|
Total
|
|
Less than 1 year
|
|
1-3 Years
|
|
3-5 years
|
|
More than 5 years
|
||||||||||
Operating Lease Obligations
|
$
|
5,657,000
|
|
|
$
|
1,337,000
|
|
|
$
|
1,983,000
|
|
|
$
|
1,674,000
|
|
|
$
|
663,000
|
|
Item 3.
|
Quantitative and Qualitative Disclosures about Market Risk
|
Item 4.
|
Controls and Procedures
|
Item 1.
|
Legal Proceedings
|
Item 1A.
|
Risk Factors
|
Item 2.
|
Unregistered Sales of Equity Securities and Use of Proceeds
|
Exhibit
No.
|
|
Description
|
3.1
|
|
Amended and Restated Certificate of Incorporation (1)
|
3.2
|
|
Amendment to Certificate of Incorporation (2)
|
3.3
|
|
Amendment to Certificate of Incorporation (2)
|
3.4
|
|
Fifth Amended and Restated By-laws (3)
|
31.1
|
|
Certification of John C.C. Fan, Chief Executive Officer, filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. 1350) *
|
31.2
|
|
Certification of Richard A. Sneider, Chief Financial Officer, filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. 1350) *
|
32.1
|
|
Certification of John C.C. Fan, Chief Executive Officer, furnished pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. 1350) **
|
32.2
|
|
Certification of Richard A. Sneider, Chief Financial Officer, furnished pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. 1350) **
|
101.INS
|
|
XBRL Instance Document*
|
101.SCH
|
|
XBRL Taxonomy Extension Schema Document*
|
101.CAL
|
|
XBRL Taxonomy Calculation Linkbase Document*
|
101.DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document*
|
101.LAB
|
|
XBRL Taxonomy Label Linkbase Document*
|
101.PRE
|
|
XBRL Taxonomy Presentation Linkbase Document*
|
*
|
Submitted electronically herewith
|
**
|
Furnished and not filed herewith
|
(1)
|
Filed as an exhibit to Registration Statement on Form S-1, File No. 33-57450, and incorporated herein by reference.
|
(2)
|
Filed as an exhibit to Quarterly Report on Form 10-Q for the quarterly period July 1, 2000 and incorporated herein by reference.
|
(3)
|
Filed as an exhibit to Current Report on Form 8-K filed on July 18, 2016 and incorporated herein by reference.
|
|
|
|
KOPIN CORPORATION
(Registrant)
|
|
|
|
|
|
|
Date:
|
May 11, 2017
|
|
By:
|
/
S
/ John C.C. Fan
|
|
|
|
|
John C.C. Fan
|
|
|
|
|
President, Chief Executive Officer and
Chairman of the Board of Directors
|
|
|
|
|
(Principal Executive Officer)
|
|
|
|
|
|
Date:
|
May 11, 2017
|
|
By:
|
/
S
/ R
ICHARD
A. S
NEIDER
|
|
|
|
|
Richard A. Sneider
|
|
|
|
|
Treasurer and Chief Financial Officer
|
|
|
|
|
(Principal Financial and Accounting Officer)
|
1 Year Kopin Chart |
1 Month Kopin Chart |
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