CPS TECHNOLOGIES CORP/DE/ - FORM 8-K/A - EX-99 - EXHIBIT 99.2 - May 4, 2021

Attached files

file filename
EX-99 - CPS TECHNOLOGIES CORP/DE/k8results04302021pr.htm
8-K/A - CPS TECHNOLOGIES CORP/DE/k8aprq12021prka.htm

 

 

 

CPS TECHNOLOGIES CORPORATION
STATEMENT OF OPERATIONS (Unaudited)

 

  Fiscal Quarters Ended  
    March 27,      March 28,  
     2021      2020  
           
Revenues:              
Product sales  $4,865,708   $6,511,571 
Total revenues   4,865,708    6,511,571 
Cost of product sales   3,921,568    4,961,361 
Gross Margin   944,140    1,550,210 
Selling, general, and          
administrative expense   908,471    928,590 
Income (loss) from operations   35,669    621,620 
Other income (expense), net   (4,310)   (19,966)
Income (loss) before taxes   31,359    601,654 
Income tax provision (benefit)   456    —   
Net income (loss)  $30,903   $601,654 
Net income (loss) per          
basic common share  $0.00   $0.05 

 

 

CPS TECHNOLOGIES CORPORATION
BALANCE SHEET (UNAUDITED)

 

    March 27,      March 28,  
     2021      2020  
ASSETS          
Current assets:          
Cash and cash equivalents  $167,918   $122,255 
Accounts receivable-trade, net   3,778,203    5,959,224 
Inventories, net   3,631,152    3,595,338 
Prepaid expenses and other current assets   293,275    227,459 
                
Total current assets   7,870,548    9,904,276 
                
Net property and equipment   1,184,678    1,424,302 
Right-of-use lease asset   664,000    136,000 
Deferred taxes, net   117,000    147,873 
                
 Total Assets  $9,836,226   $11,612,451 
                
LIABILITIES AND STOCKHOLDERS’          
EQUITY          
Current liabilities:          
Borrowings against line of credit   193,395    1,577,506 
Note payable, current portion   58,833    45,980 
Accounts payable   1,503,327    2,621,862 
Accrued expenses   531,548    691,921 
Deferred revenue   319,216    381,216 
Lease liability, current portion   148,000    136,000 
                
Total current liabilities   2,754,319    5,454,485 
                
Note payable less current portion   139,608    159,649 
Long term lease liability   516,000    —   
                
Total liabilities   3,409,927    5,614,134 
Total stockholders’ equity   6,426,299    5,998,317 
                
Total liabilities and stockholders’          
 equity  $9,836,226   $11,612,451 
                

 

 

CPS TECHNOLOGIES CORP/DE/ Reports