<SEC-DOCUMENT>0001437749-21-012934.txt : 20210520
<SEC-HEADER>0001437749-21-012934.hdr.sgml : 20210520
<ACCEPTANCE-DATETIME>20210520164459
ACCESSION NUMBER:		0001437749-21-012934
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20210520
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210520
DATE AS OF CHANGE:		20210520

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NORTECH SYSTEMS INC
		CENTRAL INDEX KEY:			0000722313
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRONIC COMPONENTS, NEC [3679]
		IRS NUMBER:				411681094
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-13257
		FILM NUMBER:		21945072

	BUSINESS ADDRESS:	
		STREET 1:		7550 MERIDIAN CIRCLE N
		STREET 2:		SUITE 150
		CITY:			MAPLE GROVE
		STATE:			MN
		ZIP:			55369
		BUSINESS PHONE:		952-345-2244

	MAIL ADDRESS:	
		STREET 1:		7550 MERIDIAN CIRCLE N
		STREET 2:		SUITE 150
		CITY:			MAPLE GROVE
		STATE:			MN
		ZIP:			55369

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DSC NORTECH INC
		DATE OF NAME CHANGE:	19901217

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DIGIGRAPHIC SYSTEMS CORP
		DATE OF NAME CHANGE:	19881113
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>nsys20210520_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<p style="font-family:Times New Roman;font-size:18pt;font-variant:normal;text-align:center;margin:0pt;"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>WASHINGTON, D.C. 20549</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:18pt;font-variant:normal;text-align:center;margin:0pt;"><b>FORM</b>&nbsp;<b>8-K</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>CURRENT REPORT PURSUANT</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>TO SECTION</b>&nbsp;<b>13 OR 15(d)</b>&nbsp;<b>OF THE</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>SECURITIES EXCHANGE ACT OF 1934</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Date of Report (Date of earliest event reported):&nbsp; <b>May 20, 2021</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:18pt;font-variant:normal;text-align:center;margin:0pt;"><b>NORTECH SYSTEMS INCORPORATED</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Exact name of registrant as specified in charter)</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

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			<td style="vertical-align:top;width:17.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Minnesota</b></p>
			</td>
			<td style="vertical-align:bottom;width:1.1%;">&nbsp;</td>
			<td style="vertical-align:top;width:17.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>0-13257</b></p>
			</td>
			<td style="vertical-align:bottom;width:1.1%;">&nbsp;</td>
			<td style="vertical-align:top;width:17.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>41-16810894</b></p>
			</td>
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			<td style="vertical-align:top;width:17.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(State or other jurisdiction</p>
			</td>
			<td style="vertical-align:bottom;width:1.1%;">&nbsp;</td>
			<td style="vertical-align:top;width:17.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Commission</p>
			</td>
			<td style="vertical-align:bottom;width:1.1%;">&nbsp;</td>
			<td style="vertical-align:top;width:17.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">IRS Employer</p>
			</td>
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			<td style="vertical-align:top;width:17.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">of incorporation)</p>
			</td>
			<td style="vertical-align:bottom;width:1.1%;">&nbsp;</td>
			<td style="vertical-align:top;width:17.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">File Number)</p>
			</td>
			<td style="vertical-align:bottom;width:1.1%;">&nbsp;</td>
			<td style="vertical-align:top;width:17.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Identification No.)</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>7550 Meridian Circle N, Maple Grove, MN 55369</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Address of principal executive offices)</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>(952) 345-2244</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Registrant&#8217;s telephone number, including area code)</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Not Applicable</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Former name or former address, if changed from last report)</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Check the appropriate box below if the Form&nbsp;8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<u>see</u> General Instruction A.2. below):</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&#9744; &nbsp;Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&#9744;&nbsp; Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&#9744;&nbsp; Pre-commencement communications pursuant to Rule&nbsp;14-2(b)&nbsp;under the Exchange Act (17 CFR 240.14d-2(b))</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&#9744;&nbsp; Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17 CFR 240. 13e-4(c))</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Securities registered pursuant to Section 12(b) of the Act:</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt 0pt 0pt 8pt;text-indent:-8pt;"><b>Title</b>&nbsp;<b>of</b>&nbsp;<b>each</b>&nbsp;<b>class:</b></p>
			</td>
			<td style="vertical-align:top;width:1%;">&nbsp;</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:top;width:16.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Trading Symbol(s)</b></p>
			</td>
			<td style="vertical-align:bottom;width:1%;">&nbsp;</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:17.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Name</b>&nbsp;<b>of</b>&nbsp;<b>each</b>&nbsp;<b>exchange</b>&nbsp;<b>on</b>&nbsp;<b>which</b>&nbsp;<b>registered:</b></p>
			</td>
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			<td style="vertical-align:top;width:17.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt 0pt 0pt 8pt;text-indent:-8pt;">Common Stock, par value $.01 per share</p>
			</td>
			<td style="vertical-align:top;width:1%;">&nbsp;</td>
			<td style="vertical-align:top;width:16.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">NSYS</p>
			</td>
			<td style="vertical-align:bottom;width:1%;">&nbsp;</td>
			<td style="vertical-align:top;width:17.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">NASDAQ Capital Market</p>
			</td>
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</table>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Emerging growth company &#9744;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#9744;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Item 8.01 Other Events</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The Registrant issued a news release on May 20, 2021, entitled &#8220;Nortech Systems to Apply for the Employee Retention Credit (ERC)&#8221; regarding its application for the ERC.&nbsp; A copy of this news release is attached hereto as Exhibit&nbsp;99.1.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Item 9.01 Financial Statements and Exhibits</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">99.1</p>
			</td>
			<td style="vertical-align:top;width:94.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><a href="ex_252235.htm" style="-sec-extract:exhibit;">News Release dated May 20, 2021 (furnished)</a></p>
			</td>
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			<td style="vertical-align:top;width:6%;">&nbsp;</td>
			<td style="vertical-align:top;width:45.1%;">&nbsp;</td>
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Date: May 20, 2021</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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			<td style="vertical-align:top;width:11.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:12.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><u>Nortech Systems Incorporated</u></p>
			</td>
			<td style="vertical-align:top;width:11.6%;">&nbsp;</td>
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			<td style="vertical-align:top;width:11.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:12.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">(Registrant)</p>
			</td>
			<td style="vertical-align:top;width:11.6%;">&nbsp;</td>
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			<td style="vertical-align:top;width:11.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:12.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><u>/s/ Christopher D. Jones</u></p>
			</td>
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			<td style="vertical-align:top;width:11.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:12.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Christopher D. Jones</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">SVP and Chief Financial Officer</p>
			</td>
			<td style="vertical-align:top;width:11.6%;">&nbsp;</td>
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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">2</p>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex_252235.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<p style="margin-bottom: 0; text-align: right; margin-top: 0; font-family: &quot;Times New Roman&quot;; font-size: 10pt"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 99.1</b></font></p>

<p style="margin-bottom: 0; text-align: left; margin-top: 0; font-family: &quot;Times New Roman&quot;; font-size: 10pt"><img alt="img01.jpg" src="img01.jpg"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<p style="margin-bottom: 0; text-align: left; margin-top: 0; font-family: &quot;Times New Roman&quot;; font-size: 10pt">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>May 20, 2021</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Nortech Systems to Apply for the Employee Retention Credit (ERC)</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">MINNEAPOLIS, MINNESOTA, USA &#8211; Nortech Systems Incorporated (Nasdaq: NSYS) (the &#8220;Company&#8221;), a leading provider of engineering and manufacturing solutions for complex electromedical and electromechanical products serving the medical, aerospace &amp; defense and industrial markets today announced that it is applying for the Employee Retention Credit (&#8220;ERC&#8221;) to support ongoing investment in Nortech&#8217;s frontline workforce and to drive increased manufacturing output to meet customers&#8217; rising demand for mission critical parts. The Company estimates the ERC will, if the application is successful, total $5 million in fiscal 2021.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><i>Nortech, in partnership with our medical, industrial and defense customers,</i>&nbsp;<i>uses intelligence, innovation, speed and global expertise to provide manufacturing and engineering solutions. This enables our customers to be leaders in digital connectivity and data management to achieve their business goals.</i>&nbsp;<i>Nortech</i>&nbsp;<i>strives to be a premier workplace that fosters valued relationships internally and in our communities.</i></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;text-indent:9pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b><u>About Nortech Systems Incorporated</u></b> Nortech Systems is a leading provider of design and manufacturing solutions for complex electromedical devices, electromechanical systems, assemblies, and components. Nortech Systems primarily serves the medical, aerospace &amp; defense, and industrial markets. Its design services span concept development to commercial design, and include medical device, software, electrical, mechanical, and biomedical engineering. Its manufacturing and supply chain capabilities are vertically integrated around wire/cable/interconnect assemblies, printed circuit board assemblies, as well as system-level assembly, integration, and final test. Headquartered in Maple Grove, Minn., Nortech currently has seven manufacturing locations and design centers across the U.S., Latin America, and Asia. Nortech Systems is traded on the NASDAQ Stock Market under the symbol NSYS. Nortech&#8217;s website is<u> www.nortechsys.com</u>.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b><u>Forward-Looking Statements</u></b> This press release contains forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 including without limitation statements regarding the Company obtaining 2021 Employee Retention Credit (ERC) funds of approximately $5 million and with respect to customers&#8217; increasing demand. Important factors that could cause actual results to differ materially from the forward-looking statements include, without limitation: (1) the impact of the COVID-19 pandemic on our customers, employees, manufacturing facilities, suppliers, the capital markets and our financial condition (2) supply chain disruptions leading to parts shortages for critical components; (3) volatility in market conditions which may affect market supply of and demand for the company&#8217;s products; (4) increased competition; (5) changes in the reliability and efficiency of operating facilities or those of third parties; (6) risks related to the availability of labor; (7) commodity cost increases coupled with our inability to raise prices charged to our customers; (8) the unanticipated loss of key members of senior management and the transition of new members of our management teams to their new roles; and (9) and general economic, financial and business conditions that could affect the company&#8217;s financial condition and results of operations. Some of the above-mentioned factors are described in further detail in the section entitled &#8220;Risk Factors&#8221; in our annual and quarterly reports, as applicable. You should assume the information appearing in this document is accurate only as of the date hereof, or as otherwise specified, as our business, financial condition, results of operations and prospects may have changed since such date. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the United States Securities and Exchange Commission, we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, to reflect actual results or changes in factors or assumptions affecting such forward-looking statements.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Contact Information is:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Chris Jones, CFO</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">cjones@nortechsys.com</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">952-345-2244</p>

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