<SEC-DOCUMENT>0001140361-20-025509.txt : 20201113
<SEC-HEADER>0001140361-20-025509.hdr.sgml : 20201113
<ACCEPTANCE-DATETIME>20201113162645
ACCESSION NUMBER:		0001140361-20-025509
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20201113
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20201113
DATE AS OF CHANGE:		20201113

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TANDY LEATHER FACTORY INC
		CENTRAL INDEX KEY:			0000909724
		STANDARD INDUSTRIAL CLASSIFICATION:	LEATHER & LEATHER PRODUCTS [3100]
		IRS NUMBER:				752543540
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12368
		FILM NUMBER:		201311868

	BUSINESS ADDRESS:	
		STREET 1:		1900 SE LOOP 820
		CITY:			FT WORTH
		STATE:			TX
		ZIP:			76140
		BUSINESS PHONE:		8178723200

	MAIL ADDRESS:	
		STREET 1:		1900 SE LOOP 820
		CITY:			FT WORTH
		STATE:			TX
		ZIP:			76140

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEATHER FACTORY INC
		DATE OF NAME CHANGE:	19930723
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>brhc10016966_8k.htm
<DESCRIPTION>8-K
<TEXT>
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      <div style="text-align: center; color: rgb(0, 0, 0); font-size: 14pt; font-weight: bold;">UNITED STATES</div>
      <div style="text-align: center; color: rgb(0, 0, 0); font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
      <div style="text-align: center; color: rgb(0, 0, 0); font-size: 12pt; font-weight: bold;">WASHINGTON, D.C. 20549</div>
      <div><br>
      </div>
      <div style="text-align: center; color: rgb(0, 0, 0); font-size: 18pt; font-weight: bold;">Form 8-K</div>
      <div><br>
      </div>
      <div style="text-align: center; color: #000000; font-weight: bold;">CURRENT REPORT</div>
      <div><br>
      </div>
      <div style="text-align: center; color: #000000;">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" id="z2818fdc5473245239c490f3fb42b5134" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

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            <td style="width: 60%; vertical-align: top;">
              <div style="text-align: center; color: rgb(0, 0, 0);">Date of report (Date of earliest event reported:)</div>
            </td>
            <td style="width: 40%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0);">November 13, 2020</div>
            </td>
          </tr>

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      <div><br>
      </div>
      <div style="text-align: center;"><img src="image00001.jpg"></div>
      <div><br>
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          <tr>
            <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 24pt;">
              <div style="text-align: center; color: rgb(0, 0, 0);">Tandy Leather Factory, Inc.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: top;">
              <div style="text-align: center; color: rgb(0, 0, 0);">(Exact Name of Registrant as Specified in Its Charter)</div>
            </td>
          </tr>

      </table>
      <div><br>
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            <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0);">Delaware</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: top;">
              <div style="text-align: center; color: rgb(0, 0, 0);">(State or Other Jurisdiction of Incorporation</div>
            </td>
          </tr>

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      <div><br>
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          <tr>
            <td style="width: 49%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0);">1-12368</div>
            </td>
            <td style="width: 2%; vertical-align: top;">&#160;</td>
            <td style="width: 49%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0);">75-2543540</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49%; vertical-align: top;">
              <div style="text-align: center; color: rgb(0, 0, 0);">(Commission File Number)</div>
            </td>
            <td style="width: 2%; vertical-align: top;">&#160;</td>
            <td style="width: 49%; vertical-align: top;">
              <div style="text-align: center; color: rgb(0, 0, 0);">(IRS Employer Identification Number)</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" id="z09110abe35964fcc844336075a9d8ea7" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 49%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0);">1900 Southeast Loop 820, Fort Worth, Texas</div>
            </td>
            <td style="width: 2%; vertical-align: top;">&#160;</td>
            <td style="width: 49%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0);">76140</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49%; vertical-align: top;">
              <div style="text-align: center; color: rgb(0, 0, 0);">(Address of Principal Executive Offices)</div>
            </td>
            <td style="width: 2%; vertical-align: top;">&#160;</td>
            <td style="width: 49%; vertical-align: top;">
              <div style="text-align: center; color: rgb(0, 0, 0);">(Zip Code)</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
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            <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0);">(817) 872-3200</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: top;">
              <div style="text-align: center; color: rgb(0, 0, 0);">(Registrant's Telephone Number, Including Area Code)</div>
            </td>
          </tr>

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      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z1e1e45d2004d4929a98a6aed787fbdc1" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

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            <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: top;">
              <div style="text-align: center; color: rgb(0, 0, 0);">(Former Name or Former Address, if Changed Since Last Report)</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="color: #000000;">Check the appropriate box below if the Form 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):</div>
      <div><font style="color: #000000;"> </font><br>
        </div>
      <table cellspacing="0" cellpadding="0" id="z5ac745a029294904a1b1d1576d3f7f00" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; align: right; color: #000000;">&#9744;</td>
            <td style="width: auto; vertical-align: top;">
              <div style="color: rgb(0, 0, 0);">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" id="zdb340459ef2c443ab4a1eaf2625abfb2" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 18pt; vertical-align: top; align: right; color: #000000;">&#9744;</td>
            <td style="width: auto; vertical-align: top;">
              <div style="color: rgb(0, 0, 0);">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" id="zaab95fe068144d749c921f9aeac35c52" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 18pt; vertical-align: top; align: right; color: #000000;">&#9744;</td>
            <td style="width: auto; vertical-align: top;">
              <div style="color: rgb(0, 0, 0);">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" id="zabbbee564cf04e15a6e579e6d39a9892" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; align: right; color: #000000;">&#9744;</td>
            <td style="width: auto; vertical-align: top;">
              <div style="color: rgb(0, 0, 0);">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-align: center;">Securities registered pursuant to Section 12(b) of the Act:</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" id="z649aa6e173de4c4884c268e5255ee606" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 40%; vertical-align: bottom;">
              <div style="text-align: center; font-weight: bold;">Title of each class</div>
            </td>
            <td style="width: 20.07%; vertical-align: bottom;">
              <div style="text-align: center; font-weight: bold;">Trading Symbol(s)</div>
            </td>
            <td style="width: 40%; vertical-align: bottom;">
              <div style="text-align: center; font-weight: bold;">Name of each exchange on which registered</div>
            </td>
          </tr>
          <tr>
            <td style="width: 40%; vertical-align: bottom;">
              <div style="text-align: center;">Common Stock, par value $0.0024</div>
            </td>
            <td style="width: 20.07%; vertical-align: bottom;">
              <div style="text-align: center;">TLFA</div>
            </td>
            <td style="width: 40%; vertical-align: bottom;">
              <div style="text-align: center;">Over-the-counter &#8220;pink sheets&#8221;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div>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).</div>
      <div>&#160;</div>
      <div>Emerging growth company&#160; &#9744;</div>
      <div>&#160;</div>
      <div>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.&#160; &#9744;</div>
      <div> <br>
        </div>
      <div>
        <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"></div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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      <table cellspacing="0" cellpadding="0" id="z41909a2893e94b8099d46e82a31bfc7f" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">Item 2.02.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Results of Operations and Financial Condition</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="color: #000000;">On November 13, 2020, Tandy Leather Factory, Inc. (the &#8220;Company&#8221;) issued a press release announcing certain financial results as described in the next
        paragraph.&#160; A copy of the press release is attached as Exhibit 99.1.</div>
      <div><br>
      </div>
      <div><font style="color: #000000;">As previously reported, the Company is undertaking a restatement of prior financial
          statements and is not currently reporting its regular financial results until the restatement has been completed.&#160; For this reason, the press release includes only certain limited financial results, primarily relating to sales, cash and strategic
          initiatives, for three months ended September 30, 2020.&#160; The Company also announced that (1) the filing of its quarterly report on Form 10-Q for the third fiscal quarter of 2020 would be delayed, pending completion of the restatement, and (2)
          Nasdaq had upheld on appeal its decision to de-list the Company&#8217;s common stock from the Nasdaq Global Market.&#160; The </font>Company intends to apply to re-list its common stock on Nasdaq following the filing of all
          of its outstanding reports with the SEC.</div>
      <div><br>
      </div>
      <div style="color: #000000;">The information in this report and the exhibits attached hereto shall not be deemed &#8220;filed&#8221; for purposes of Section 18 of the Securities Exchange Act of
        1934, nor shall they be deemed incorporated by reference in any filing with the Securities and Exchange Commission under the Securities Exchange Act of 1934 or the Securities Act of 1933, except as shall be expressly set forth by specific reference
        in such filing.</div>
      <div><br>
      </div>
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          <tr>
            <td style="width: 54pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">Item 9.01</td>
            <td style="width: auto; vertical-align: top;">
              <div style="color: #000000;"><font style="font-weight: bold;">Financial Statements and Exhibits</font>.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="color: #000000;">(d) Exhibits</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" id="ze40c939a33be4b6cbf11d527494b54fb" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 5%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 10%; vertical-align: top;">
              <div style="color: rgb(0, 0, 0); font-weight: bold;"><u>No.</u></div>
            </td>
            <td style="width: 85%; vertical-align: top;">
              <div style="color: rgb(0, 0, 0); font-weight: bold;"><u>Exhibit</u></div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 10%; vertical-align: top;">
              <div style="color: rgb(0, 0, 0);"><a href="brhc10016966_ex99-1.htm">99.1</a></div>
            </td>
            <td style="width: 85%; vertical-align: top;">
              <div style="color: rgb(0, 0, 0);">Press Release dated November 13, 2020</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="color: #000000; font-weight: bold;">Forward Looking Statements<a name="T1"></a></div>
      <div><br>
      </div>
      <div><a name="S176652953"></a><a name="T13"></a>Certain statements contained in this report and other materials the
          Company files with the SEC, as well as information included in oral statements or other written statements made or to be made by the Company, other than statements of historical fact, are forward-looking statements within the meaning of Section
          27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally are accompanied by words such as &#8220;may,&#8221; &#8220;will,&#8221; &#8220;could,&#8221; &#8220;should,&#8221; &#8220;anticipate,&#8221; &#8220;believe,&#8221;
          &#8220;budgeted,&#8221; &#8220;expect,&#8221; &#8220;intend,&#8221; &#8220;plan,&#8221; &#8220;project,&#8221; &#8220;potential,&#8221; &#8220;estimate,&#8221; &#8220;continue,&#8221; &#8220;outlook,&#8221; &#8220;forecast&#8221; or &#8220;future,&#8221; variations thereof or other similar statements. Please refer to the Company's Annual Report on Form 10-K for the fiscal
          year ended December 31, 2018 for additional information concerning these and other uncertainties that could negatively impact the Company. The Company assumes no obligation to update or otherwise revise its forward-looking statements,
        except as required by law.</div>
      <div><font style="color: #000000;"> </font><br>
        </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-align: center; color: #000000; font-weight: bold;">SIGNATURES</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt; color: #000000;">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its
        behalf by the undersigned hereunto duly authorized.</div>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" border="0" id="z6a18a035c73f421f97d7669de654306e" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="vertical-align: top; width: 50%;">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">TANDY LEATHER FACTORY, INC.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">
              <div style="color: rgb(0, 0, 0);">Date:&#160; November 13, 2020</div>
            </td>
            <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); width: 50%;">
              <div style="color: rgb(0, 0, 0);">By: /s/ Steven Swank</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;" rowspan="1">
              <div style="margin-left: 9pt">
                <div style="margin-left: 9pt">
                  <div style="color: rgb(0, 0, 0);">Steven Swank, Chief Financial Officer</div>
                </div>
              </div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div><br>
      </div>
      <div>
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
    </div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>brhc10016966_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 99.1</font><br>
      </div>
    <div><font style="font-weight: bold;"> <br>
      </font></div>
    <div><img src="image00003.jpg">
      <div style="margin-right: 32.4pt;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" id="z099117e293784df4ad5ef0c96875817a" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 3%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 97%; vertical-align: top;" rowspan="1">
              <div style="margin-right: 32.4pt; font-weight: bold;">FOR IMMEDIATE RELEASE</div>
            </td>
          </tr>
          <tr>
            <td style="width: 3%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 97%; vertical-align: top;" rowspan="1">
              <div style="margin-right: 32.4pt; font-weight: bold;">November 13, 2020</div>
            </td>
          </tr>

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      <div><br>
      </div>
      <div style="text-align: center; color: #010101; font-size: 14pt; font-weight: bold;"><font style="font-size: 10pt;">Tandy Leather Factory Reports Certain 3</font><font style="font-size: 10pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">rd</sup> Quarter Operating Results and Related Information</font></div>
      <div><br>
      </div>
      <div style="text-align: justify; font-size: 12pt;"><font style="font-size: 10pt; color: rgb(0, 0, 0);">FORT WORTH, TEXAS &#8211; November 13, 2020</font><font style="font-size: 10pt; color: rgb(1, 1, 1);"> (GLOBE NEWSWIRE) &#8211; </font><font style="font-size: 10pt; color: rgb(0, 0, 0);">Tandy Leather Factory, Inc. (Pink: TLFA) today reported
          certain financial result information for its third fiscal quarter, ended September 30, 2020.&#160; Sales are still preliminary but were approximately $15.8 million, a decrease of 3.1% compared to prior year's $16.3 million.&#160; As of September 30, 2020,
          the Company had&#160; $0.4 million of debt and $10.1 million of cash and cash equivalents.</font></div>
      <div>&#160;</div>
      <div style="text-align: justify; color: rgb(0, 0, 0);">Commenting on these preliminary results, Janet Carr, Chief Executive Officer, said, &#8220;We were pleased with our third quarter sales
        performance following the shutdown of our entire store fleet from COVID-19 in Q2.&#160; In the third quarter, we were able to reopen substantially all of our remaining store fleet after the permanent closure of 8 stores.&#160; Strong web sales continued in
        Q3, even as stores have reopened.&#160; Total sales growth improved through the quarter with positive year-over-year growth in September and continuing through October.&#160; While the future remains hard to predict in the current economic climate and with
        COVID-19 case rates rising again, we have confidence in the overall trajectory of the business.&#8221;</div>
      <div>&#160;</div>
      <div style="text-align: justify; color: rgb(0, 0, 0);">The Company continues to undergo a financial accounting restatement of the information presented in its Form 10-K for fiscal year 2018,
        and as a result is still completing its financial statement audits for fiscal year 2019 and the first three quarters of fiscal 2020.&#160; This includes the Company&#8217;s Quarterly Report on Form 10-Q for the third quarter, which the Company expects to file
        together with its restated and other outstanding filings.&#160; Until then, the Company is not in a position to provide detailed financial information beyond its sales and cash balance.&#160; The Company also confirmed that Nasdaq&#8217;s decision to de-list the
        Company&#8217;s common stock from the Nasdaq Global Market was upheld upon appeal; the Company intends to apply to re-list its common stock on Nasdaq following the filing of all of its outstanding reports with the SEC.</div>
      <div>&#160;</div>
      <div style="text-align: justify; color: rgb(0, 0, 0);">Ms. Carr added, &#8220;We are looking forward to the completion of the audit of our restated financials, our re-listing on the Nasdaq, and a
        return to a regular, fulsome discussion of our financial results with investors.&#160; During this period, and despite the distraction and economic environment, we have made significant progress on our consumer-facing initiatives, implemented new,
        comprehensive systems improvements, launched a new web platform and centralized ecommerce fulfillment capability and substantially increased digital marketing, and made other investments in building the foundation for our long-term growth.&#8221;</div>
      <div>&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="width: 100%;" id="DSPFPageFooter">
          <div>
            <div style="text-align: center; color: #000000;">Importers, Exporters, Manufacturers, Distributors, Retailers of Leathers, Leathercraft Supplies, Hardware, Findings and Finishes</div>
          </div>
        </div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-size: 12pt;"><font style="font-size: 10pt; color: rgb(1, 1, 1);">Tandy Leather Factory, Inc., (</font><font style="font-size: 10pt; color: rgb(0, 0, 0);">http://www.tandyleather.com</font><font style="font-size: 10pt; color: rgb(1, 1, 1);">), headquartered in Fort Worth, Texas, is a specialty
          retailer of a broad product line including leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits.&#160; The Company distributes its products through its 105 North
          American stores located in 40 US states and 6 Canadian provinces, and one store located in Spain.&#160; Its common stock trades over-the-counter &#8220;pink sheets&#8221; with the symbol &#8220;TLFA&#8221;.&#160; To be included on Tandy Leather Factory's email distribution list,
          go to: </font><font style="font-size: 10pt; color: rgb(0, 0, 0);">http://www.b2i.us/irpass.asp?BzID=1625&amp;to=ea&amp;s=0</font><font style="font-size: 10pt; color: rgb(1, 1, 1);">.</font></div>
      <div><font style="color: #000000;"> </font><br>
        </div>
      <div style="color: #000000;">Contact:&#160; Steve Swank, Tandy Leather Factory, Inc.&#160; (817) 872-3200 or steve.swank@tandyleather.com</div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="color: #010101; font-style: italic;">This news release may contain statements regarding future events, occurrences, circumstances, activities, performance, outcomes and
        results that are considered "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results and events may differ from those projected as a result of certain risks and uncertainties. These risks and
        uncertainties include but are not limited to: changes in general economic conditions, negative trends in general consumer-spending levels, failure to realize the anticipated benefits of opening retail stores; availability of hides and leathers and
        resultant price fluctuations; change in customer preferences for our product, and other factors disclosed in our filings with the Securities and Exchange Commission.&#160; These forward-looking statements are made only as of the date hereof, and except
        as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.</div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div style="text-align: center;">Importers, Exporters, Manufacturers, Distributors, Retailers of Leathers, Leathercraft Supplies, Hardware, Findings and Finishes</div>
      <div>
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
