CPS Technologies (CPSH) 8-K CPS Technologies Corporation Announces Third Quarter 2021 Results

Exhibit 99.2

CPS TECHNOLOGIES CORPORATION

Statements of Operations (Unaudited)

	Three Months Ended				Nine Months Ended
	September 25,		September 26,		September 25,		September 26,
	2021		2020		2021		2020
Revenues:
Product sales	$	5,514,872	$	4,452,387	$	16,242,762	$	16,721,973
Total revenues		5,514,872		4,452,387		16,242,762		16,721,973
Cost of product sales		4,375,676		3,514,813		12,807,844		13,050,860
Gross Margin		1,139,196		937,574		3,434,918		3,671,113
Selling, general, and administrative expense		1,227,258		684,836		3,234,344		2,466,196
Income from operations		(88,062)		252,738		200,573		1,204,915
Interest/Other income (expense)		16,032		(21,266)		(2,047)		(72,558)
Net income before income tax		(72,030)		231,472		198,526		1,132,357
Income tax provision (benefit)		(2,840,951)		456		(2,840,951)		456
Net income	$	2,768,921	$	231,016	$	3,039,021	$	1,131,901
Net income per basic common share	$	0.19	$	0.02	$	0.22	$	0.09

CPS TECHNOLOGIES CORPORATION

BALANCE SHEET (UNAUDITED)

	September 25,		December 26,
	2021		2020
ASSETS
Current assets:
Cash and cash equivalents	$	3,837,737	$	195,203
Accounts receivable-trade, net		5,032,187		2,914,800
Inventories, net		3,773,228		3,709,471
Prepaid expenses and other current assets		132,315		71,506
Total current assets		12,775,467		6,890,980
Net property and equipment		1,175,244		1,287,947
Right-of-use lease asset		613,000		25,000
Deferred taxes, net		2,958,407		117,000
Total Assets	$	17,522,118	$	8,320,927
LIABILITIES AND STOCKHOLDERS’EQUITY
Current liabilities:
Note payable, current portion		44,821	$	58,134
Accounts payable		1,699,154		909,291
Accrued expenses		911,387		804,091
Deferred revenue		1,150,797		12,177
Lease liability, current portion		153,000		25,000
Total current liabilities		3,959,159		1,808,693
Note payable less current portion		124,566		154,570
Long term lease liability		460,000		--
Total liabilities		4,543,725		1,963,263
Total stockholders’ equity		12,978,393		6,357,664
Total liabilities and stockholders’ equity	$	17,522,118	$	8,320,927