Exhibit 99.2

|
CPS TECHNOLOGIES CORP. |
||||||||
|
Statements of Operations (Unaudited) |
|
Fiscal Quarters Ended |
||||||||
|
April 1, |
April 2, |
|||||||
|
2023 |
2022 |
|||||||
|
Revenues: |
||||||||
|
Product sales |
$ | 7,100,267 | $ | 6,652,714 | ||||
|
Total revenues |
7,100,267 | 6,652,714 | ||||||
|
Cost of product sales |
4,855,564 | 4,689,224 | ||||||
|
Gross Profit |
2,244,703 | 1,963,490 | ||||||
|
Selling, general, and administrative expense |
1,550,522 | 1,416,393 | ||||||
|
Income from operations |
694,181 | 547,097 | ||||||
|
Other income (expense), net |
15,590 | -1,913 | ||||||
|
Income before taxes |
709,771 | 545,184 | ||||||
|
Income tax provision |
250,570 | 125,748 | ||||||
|
Net income |
$ | 459,201 | $ | 419,436 | ||||
|
Net income per basic common share |
$ | 0.03 | $ | 0.03 | ||||
Page 2
|
CPS TECHNOLOGIES CORPORATION |
|
BALANCE SHEET (UNAUDITED) |
|
April 1, |
December 31, |
|||||||
|
2023 |
2022 |
|||||||
| ASSETS | ||||||||
|
Current assets: |
||||||||
| Cash and cash equivalents | $ | 7,369,863 | $ | 8,266,753 | ||||
| Accounts receivable-trade, net | 4,714,138 | 3,777,975 | ||||||
| Accounts Receivable - other | 700,703 | 685,668 | ||||||
| Inventories, net | 4,692,655 | 4,875,901 | ||||||
| Prepaid expenses and other current assets | 299,601 | 211,242 | ||||||
| Total current assets | 17,776,960 | 17,817,539 | ||||||
|
Net property and equipment |
1,378,679 | 1,326,968 | ||||||
|
Right-of-use lease asset |
433,000 | 466,000 | ||||||
|
Deferred taxes, net |
1,842,992 | 2,069,436 | ||||||
|
Total Assets |
$ | 21,431,931 | $ | 21,679,943 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
|
Current liabilities: |
||||||||
| Note payable, current portion | 44,424 | 43,711 | ||||||
| Accounts payable | 2,046,893 | 1,836,865 | ||||||
| Accrued expenses | 731,454 | 820,856 | ||||||
| Deferred revenue | 1,828,068 | 2,521,128 | ||||||
| Lease liability, current portion | 157,000 | 157,000 | ||||||
|
Total current liabilities |
4,807,839 | 5,379,560 | ||||||
|
Note payable less current portion |
43,439 | 54,847 | ||||||
|
Deferred revenue – long term |
-- | 231,020 | ||||||
|
Long term lease liability |
276,000 | 309,000 | ||||||
|
Total liabilities |
5,127,278 | 5,974,427 | ||||||
|
Total stockholders’ equity |
16,304,653 | 15,705,516 | ||||||
|
Total liabilities and stockholders’ equity |
$ | 21,431,931 | $ | 21,679,943 | ||||