NOTE 15 - ASSETS HELD FOR SALE

During the three months ended June 27, 2026, the Company committed to a plan to sell its Southport, Connecticut facility, which had historically been used as the Company's principal executive offices. The Company has relocated its principal executive offices to Mayodan, North Carolina. The Company engaged a commercial real estate broker, listed the property for sale, and concluded that all criteria for classification as held for sale under ASC 360 were met during the three months ended June 27, 2026. The Company's accounting policy for assets held for sale is described in Note 2.

As a result, the Company reclassified the carrying value of the property, $0.4 million, from property, plant and equipment, net, to assets held for sale, on the condensed consolidated balance sheet as of June 27, 2026. Depreciation ceased upon classification of such property and assets as assets held for sale. The Company measured the assets held for sale at the lower of: (i) carrying value or (ii) fair value, less estimated costs to sell and determined no impairment loss was required.

The Company is currently in negotiation to sell the property, subject to a customary diligence period and execution of a definitive purchase and sale agreement. The Company currently expects the sale of the property to close during fiscal 2026; provided, however, that there can be no assurance that the sale will be completed on the terms described or at all.