Company: CPSH
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001437749-25-032553
Chunk: 0

Company: CPS TECHNOLOGIES CORP/DE/
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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                                                                                                       ( 8,130                            ( 34,784  
  Net cash used in financing activities                                                                                          ( 8,130                            ( 34,784  
  Net decrease in cash and cash equivalents                                                                                     ( 46,545                         ( 4,039,907  
  Cash and cash equivalents at beginning of period                                                                             3,280,687                           8,813,626  
  Cash and cash equivalents and restricted cash at end of period                                      $                        3,234,142      $                    4,773,719  
  Less: Restricted cash at end of period                                                                                              --                              84,715  
  Cash and cash equivalents at end of period                                                                                   3,234,142      $                    4,689,004  
  Supplemental disclosures of cash flows information:                                                                                                                         
  Cash paid for income taxes                                                                                                          --                                 432  
  Cash paid for interest                                                                                                              26                               1,917  
  Supplemental disclosures of non-cash activity                                                                                                                               
  Disposal of fully depreciated production equipment                                                                              96,684                           1,896,631  
  Share repurchases as a reduction of stock option exercise proceeds                                                               7,925                              90,000  

See accompanying notes to financial statements.

CPS TECHNOLOGIES CORP. Notes to Financial Statements(Unaudited)

(1) Nature of Business

CPS Technologies Corporation (the “ Company” or “ CPS”) provides advanced material solutions to the electronics, power generation, automotive, defense and other industries. The Company’s primary advanced material solution is metal-matrix composites (“ MMC”) which are a combination of metal and ceramic.

CPS also assembles housings and packages for hybrid circuits. These housings and packages mayinclude components made of metal-matrix composites or they mayinclude components made of more traditional materials such as aluminum.

Using its proprietary MMC technology, the Company also produces light-weight armor, particularly for extreme environments and heavy threat levels.

The Company also engages in research and development, in some cases government funded and in others internally funded, focused on developing new products in response to customer requirements. These products expand our offerings in existing markets and enable penetration into new markets.

(2) Summary of Significant Accounting Policies

As permitted by the rules of the Securities and Exchange Commission applicable to quarterly reports on Form10-Q, these notes are condensed and do notcontain all disclosures required by generally accepted accounting principles.

The accompanying financial statements are unaudited. In the opinion of