EX-99.2 3 ex_371252.htm EXHIBIT 99.2 ex_371252.htm

Exhibit 99.2

 

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CPS TECHNOLOGIES CORP.

Statements of Operations (Unaudited)

 

   

Fiscal Quarters Ended

 
   

April 2,

   

March 27,

 
   

2022

   

2021

 
                 

Revenues:

               

Product sales

  $ 6,652,714     $ 4,865,708  
                 

Total revenues

    6,652,714       4,865,708  

Cost of product sales

    4,689,224       3,921,568  
                 

Gross Margin

    1,963,490       944,140  

Selling, general, and administrative expense

    1,416,393       908,471  
                 

Income from operations

    547,097       35,669  

Other income (expense), net

    (1,913 )     (4,310 )
                 

Income before taxes

    545,184       31,359  

Income tax provision

    125,748       456  
                 

Net income

  $ 419,436     $ 30,903  
                 

Net income per basic common share

  $ 0.03     $ 0.00  

 

 

111 South Worcester Street, Norton, Massachusetts 02766-2102    Tel: 508-222-0614  Fax: 508-222-0220

CPS is Certified to the ISO 9001 Standard

Visit us on the Web:  www.cpstechnologysolutions.com

 

 

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CPS TECHNOLOGIES CORP.

Balance Sheet (Unaudited)

 

   

April 2,

   

December 25,

 
   

2022

   

2021

 

ASSETS

               
                 

Current assets:

               

Cash and cash equivalents

  $ 4,699,694     $ 5,050,312  

Accounts receivable-trade, net

    4,902,518       4,870,021  

Inventories, net

    4,705,526       3,911,602  

Prepaid expenses and other current assets

    334,963       225,873  

Total current assets

    14,642,701       14,057,808  

Net property and equipment

    1,322,494       1,322,494  
                 

Right-of-use lease asset

    558,000       586,000  

Deferred taxes, net

    2,698,686       2,823,978  

Total Assets

  $ 19,221,881     $ 18,800,719  
                 

LIABILITIES AND STOCKHOLDERS’ EQUITY

               
                 

Current liabilities:

               

Note payable, current portion

    51,620       55,906  

Accounts payable

    2,251,122       2,100,251  

Accrued expenses

    717,482       1,086,429  

Deferred revenue

    1,707,138       1,707,138  

Lease liability, current portion

    157,000       155,000  

Total current liabilities

    4,879,361       5,104,724  

Note payable less current portion

    87,988       98,684  

Long term lease liability

    401,000       431,000  

Total liabilities

    5,373,350       5,634,408  
                 

Total stockholders’ equity

    13,848,531       13,166,311  

Total liabilities and stockholders’ equity

  $ 19,221,881     $ 18,800,719