QUICKLOGIC CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

(Unaudited)

March 29, 2020

December 29, 2019 ⁽¹⁾

ASSETS

Current assets:

Cash and cash equivalents

$

18,898

$

21,448

Restricted cash

100

100

Accounts receivable, net

1,376

1,991

Inventories

3,085

3,260

Other current assets

1,285

1,565

Total current assets

24,744

28,364

Property and equipment, net

713

830

Internal-use software

561

333

Right of use assets

2,444

2,370

Intangible assets, net

971

1,008

Goodwill

185

185

Other assets

293

314

TOTAL ASSETS

$

29,911

$

33,404

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Revolving line of credit

$

15,000

$

15,000

Trade payables

944

1,003

Accrued liabilities

1,223

1,133

Deferred revenue

95

158

Current portion of capital lease obligations

775

704

Total current liabilities

18,037

17,998

Long-term liabilities:

Capital lease obligations, less current portion

1,639

1,583

Total liabilities

19,676

19,581

Stockholders' equity:

Common stock, par value (2)

8

8

Additional paid-in capital (2)

296,650

297,073

Accumulated deficit

(286,423)

(283,258)

Total stockholders' equity

10,235

13,823

TOTAL LIABILITIES AND STOCKHOLDERS '  EQUITY

$

29,911

$

33,404

(1)

Derived from the December 29, 2019 audited balance sheet included in the 2019 Annual Report on Form 10-K of QuickLogic Corporation.

(2)

Common stock, par value and additional paid-in capital amounts are adjusted to reflect 1-for-14 reverse stock split effected on December 23, 2019.