ex_810375.htm

EX-99.2 3 ex_810375.htm EXHIBIT 99.2 ex_810375.htm

Exhibit 99.2

CPS TECHNOLOGIES CORPORATION

Statements of Operations (Unaudited)

	Fiscal Quarters Ended
	29-Mar-25		30-Mar-24

Revenues:
Product sales	$	7,505,921	$	5,912,634

Total revenues		7,505,921		5,912,634
Cost of product sales		6,274,920		5,006,324

Gross Profit		1,231,001		906,310
Selling, general, and administrative expense		1,101,350		1,165,922

Operating income (loss)		129,651		(259,612	)
Other income, net		50,476		79,171

Income (loss) before taxes		180,127		(180,441	)
Income tax provision (benefit)		84,165		(37,288	)

Net income (loss)	$	95,962	$	(143,153	)
Other comprehensive income
Net unrealized gains on available for sale securities		1,300		-
Total other comprehensive income		1,300		-
Comprehensive income (loss)		97,262		(143,153	)

Net income (loss) per basic common share	$	0.01	$	(0.01	)

Weighted average number of basic common shares outstanding		14,525,960		14,519,215

Net income (loss) per diluted common share	$	0.01	$	(0.01	)

Weighted average number of diluted common shares outstanding		14,543,911		14,519,215

Page 2

CPS TECHNOLOGIES CORP.

Balance Sheets (Unaudited)

	March 29, 2025			December 28, 2024
ASSETS

Current assets:
Cash and cash equivalents	$	1,929,919		$	3,280,687
Marketable securities, at fair value		1,039,714			1,031,001
Accounts receivable-trade, net		6,302,650			4,858,208
Accounts receivable-other		210,475			177,068
Inventories, net		4,812,833			4,331,066
Prepaid expenses and other current assets		389,764			480,986
Total current assets		14,685,355			14,159,016
Property and equipment:
Production equipment		10,439,670			10,382,379
Furniture and office equipment		891,921			891,921
Leasehold improvements		997,830			997,830
Total cost		12,329,421			12,272,130
Accumulated depreciation and amortization		(10,542,494	)		(10,377,756	)
Construction in progress		144,653			108,874
Net property and equipment		1,931,580			2,003,248
Right-of-use lease asset (note 4, leases)		147,000			186,000
Deferred taxes		2,444,973			2,528,682
Total Assets	$	19,208,908			18,876,946

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:
Note payable, current portion		-			8,130
Accounts payable		3,135,552			3,053,712
Accrued expenses		1,070,932			913,279
Deferred revenue		108,080			172,429
Lease liability, current portion		147,000			160,000

Total current liabilities		4,461,564			4,307,550

Deferred revenue – long term		31,277			31,277
Long term lease liability		-			26,000

Total liabilities		4,492,841			4,364,827
Commitments & Contingencies
Stockholders’ equity:
Common stock, $0.01 par value, authorized 20,000,000 shares; issued 14,661,487 shares; outstanding 14,525,960 shares at each March 29, 2025 and December 28, 2024		146,615			146,615
Additional paid-in capital		40,702,573			40,580,387
Accumulated other comprehensive income		1,300			15,500
Accumulated deficit		(25,794,283	)		(25,890,245	)
Less cost of 135,527 common shares repurchased at each March 29, 2025 and December 28, 2024		(340,138	)		(340,138	)

Total stockholders’ equity		14,716,067			14,512,119

Total liabilities and stockholders’ equity	$	19,208,908		$	18,876,946