EX-99.2 3 ex_880032.htm EXHIBIT 99.2

ex_880032.htm

Exhibit 99.2

CPS TECHNOLOGIES CORPORATION

Statements of Operations (Unaudited)

		Three Months Ended								Nine Months Ended
		September 27, 2025				September 28, 2024				September 27, 2025				September 28, 2024
Product sales		$	8,803,695			$	4,247,116			$	24,388,272			$	15,190,063
Cost of product sales			7,301,129				4,770,548				20,318,390				15,037,177
Gross profit			1,502,566				-523,432				4,069,882				152,886
Selling, general, and administrative expenses			1,226,484				963,064				3,527,223				3,214,831
Income (loss) from operations			276,082				(1,486,496	)			542,659				(3,061,945	)
Other income, net			45,483				70,974				114,985				241,845
Net income (loss) before income taxes			321,565				(1,415,522	)			657,644				(2,820,100	)
Income tax provision (benefit)			113,601				(372,683	)			249,885				(679,803	)
Net income (loss)		$	207,964			$	(1,042,839	)		$	407,759			$	(2,140,297	)
Other comprehensive income
Net unrealized gains (losses)on available for sale securities			(2,293	)			8,745				7,913				17,446
Reclassification adjustment for gains included in net income			-				-				-16,237				-
Total other comprehensive income (loss)			(2,293	)			8,745				-8,324				17,446
Comprehensive income (loss)			205,671				(1,034,094	)			399,435				(2,122,851	)
Net income (loss) per basic common share		$	0.01			$	(0.07	)		$	0.03			$	(0.15	)
Weighted average number of basic common shares outstanding			14,527,126				14,525,664				14,526,349				14,521,365
Net income (loss) per diluted common share		$	0.01			$	(0.07	)		$	0.03			$	(0.15	)
Weighted average number of diluted common shares outstanding			14,674,384				14,525,664				14,598,576				14,521,365

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CPS TECHNOLOGIES CORP.

Balance Sheets (Unaudited)

		September 27, 2025				December 28, 2024
ASSETS
Current assets:
Cash and cash equivalents		$	3,234,142			$	3,280,687
Marketable securities, at fair value			1,054,079				1,031,001
Accounts receivable-trade			5,400,080				4,858,208
Accounts receivable-other			376,652				177,068
Inventories, net			5,383,680				4,331,066
Prepaid expenses and other current assets			328,249				480,986
Total current assets			15,776,882				14,159,016
Property and equipment:
Production equipment			10,599,479				10,382,379
Furniture and office equipment			910,310				891,921
Leasehold improvements			997,830				997,830
Total cost			12,507,619				12,272,130
Accumulated depreciation and amortization			(10,737,391	)			(10,377,756	)
Construction in progress			216,193				108,874
Net property and equipment			1,986,421				2,003,248
Net intangible assets			23,746				-
Right-of-use lease asset			370,000				186,000
Deferred taxes, net			2,279,253				2,528,682
Total Assets		$	20,436,302				18,876,946
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Note payable, current portion			-				8,130
Accounts payable			3,530,052				3,053,712
Accrued expenses			1,298,268				913,279
Deferred revenue			74,257				172,429
Lease liability, current portion			161,000				160,000
Total current liabilities			5,063,577				4,307,550
Deferred revenue – long term			31,277				31,277
Long term lease liability			209,000				26,000
Total liabilities			5,303,854				4,364,827
Commitments & Contingencies
Stockholders’ equity:
Common stock, $0.01 par value, authorized 20,000,000 shares; issued 14,666,987 and 14,661,487 shares; outstanding 14,529,277 and 14,525,960 shares at September 27, 2025 and December 28, 2024, respectively			146,670				146,615
Additional paid-in capital			40,809,151				40,580,387
Accumulated other comprehensive income			7,176				15,500
Accumulated deficit			(25,482,486	)			(25,890,245	)
Less cost of 137,710 and 135,527 common shares repurchased at September 27, 2025 and December 28, 2024, respectively			(348,063	)			(340,138	)
Total stockholders’ equity			15,132,448				14,512,119
Total liabilities and stockholders’ equity		$	20,436,302			$	18,876,946