# EDGAR Filing Document

**Accession Number:** 0000096699
**File Stem:** 0001171843-23-000678
**Filing Date:** 2023-2
**Character Count:** 10543
**Document Hash:** 478a84000ea10c8d4224aeb15b5e3e6a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001171843-23-000678.hdr.sgml**: 20230203

**ACCESSION NUMBER**: 0001171843-23-000678

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230203

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230203

**DATE AS OF CHANGE**: 20230203

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TECHNICAL COMMUNICATIONS CORP
- **CENTRAL INDEX KEY:** 0000096699
- **STANDARD INDUSTRIAL CLASSIFICATION:** RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663]
- **IRS NUMBER:** 042295040
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0924

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-34816
- **FILM NUMBER:** 23586700

**BUSINESS ADDRESS:**
- **STREET 1:** 100 DOMINO DR
- **CITY:** CONCORD
- **STATE:** MA
- **ZIP:** 01742
- **BUSINESS PHONE:** 9782875100

**MAIL ADDRESS:**
- **STREET 1:** 100 DOMINO DRIVE
- **CITY:** CONCORD
- **STATE:** MA
- **ZIP:** 01742-2892

?xml version="1.0" encoding="utf-8"?Form 8-K

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

### Washington, D.C. 20549
_________________

### FORM 8-K
_________________

#### CURRENT REPORT

#### Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

#### Date of Report (Date of earliest event reported): February 3, 2023
_______________________________

#### Technical Communications Corporation
(Exact name of registrant as specified in its charter)

_______________________________

---

| | | |
|:---|:---|:---|
| **Massachusetts** | **001-34816** | **04-2295040** |
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |

---

#### 100 Domino Drive

#### Concord, Massachusetts 01742
(Address of Principal Executive Offices) (Zip Code)

(978) 287-5100

(Registrant's telephone number, including area code)

#### Not Applicable
(Former name or former address, if changed since last report)

_______________________________

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:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: None

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

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. ☐

**Item 2.02. Results of Operations and Financial Condition.**

On February 3, 2023, Technical Communications Corporation (the "Company") announced its financial results for the fiscal quarter ended December 24, 2022. A copy of the press release, dated February 3, 2023, describing such results is attached as Exhibit 99.1 to this report and incorporated herein.

**Item 9.01. Financial Statements and Exhibits.**

*a. Financial statements of businesses acquired.* Not applicable.

*b. Pro forma financial information.* Not applicable.

*c. Shell company transactions.* Not applicable

 *d. Exhibits:* The following exhibit is furnished pursuant to Item 2.02 hereof, and the information contained in this report and such exhibit shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly stated therein.

---

| | |
|:---|:---|
| <u>Exhibit No.</u> | <u>Description</u> |
| [99.1](exh_991.htm) | [Press Release dated February 3, 2023](exh_991.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

#### SIGNATURE
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.

---

| | | |
|:---|:---|:---|
|  | **Technical Communications Corporation** | **Technical Communications Corporation** |
| Date: February 3, 2023 | By: | <u>/s/ Carl H. Guild, Jr.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> |
|  |  | Carl H. Guild, Jr. |
|  |  | President and Chief Executive Officer |

---

## Exhibit 99.1

**EXHIBIT 99.1**

**Technical Communications Corporation Reports Results for the Fiscal Quarter Ended December 24, 2022**

CONCORD, Mass., Feb. 03, 2023 (GLOBE NEWSWIRE) -- Technical Communications Corporation (OTCQB: TCCO) today announced its results for the fiscal quarter ended December 24, 2022. For the quarter ended December 24, 2022, the Company reported a net loss of $(849,000), or $(0.46) per share, on revenue of $122,000, compared to a net loss of $(613,000), or $(0.33) per share, on revenue of $423,000 for the quarter ended December 25, 2021.

Carl H. Guild Jr., President and CEO of Technical Communications Corporation, commented, "The impact of the COVID pandemic has not resolved and continues to have negative effects on the financial condition of the Company. We continue to work closely with our customers in order to be able to move quickly once they are in a position to place orders. TCC continues to closely monitor expenses and is actively pursuing additional sources of liquidity."

**About Technical Communications Corporation**

For over 50 years, TCC has specialized in superior-grade secure communications systems and customized solutions, supporting our CipherONE<sup>®</sup> best-in-class criteria, to protect highly sensitive voice, data and video transmitted over a wide range of networks. Government entities, military agencies and corporate enterprises in over 115 countries have selected TCC's proven security to protect their communications. Learn more: <u>www.tccsecure.com</u>.

Statements made in this press release or as may otherwise be incorporated by reference herein that are not purely historical constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include but are not limited to statements regarding anticipated operating results, future earnings, and the ability to achieve growth and profitability. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, including but not limited to the impact of the COVID-19 pandemic (including on customers) and governmental responses thereto; the effect of domestic and foreign political unrest; domestic and foreign government policies and economic conditions; changes in export laws or regulations; changes in technology; the ability to hire, retain and motivate technical, management and sales personnel; the risks associated with the technical feasibility and market acceptance of new products; changes in telecommunications protocols; the effects of changing costs, exchange rates and interest rates; and the Company's ability to secure adequate capital resources. Such risks, uncertainties and other factors could cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. For a more detailed discussion of the risks facing the Company, see the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended September 24, 2022 and the "Risk Factors" section included therein.

**Technical Communications Corporation**

**Condensed consolidated statements of operations**

---

| | | |
|:---|:---|:---|
|  | **Quarter Ended** | **Quarter Ended** |
|  | **12/24/2022** | **12/25/2021** |
| | **(Unaudited)** | **(Unaudited)** |
| Net revenue | $122000 | $423000 |
| Gross profit (loss) | (27000) | 67000 |
| S, G & A expense | 484000 | 562000 |
| Product development costs | 277000 | 101000 |
| Operating loss | (788000) | (596000) |
| Interest expense | (61000) | (16000) |
| Net loss | (849000) | (613000) |
| Net loss per share: |  |  |
| Basic | $(0.46) | $(0.33) |
| Diluted | $(0.46) | $(0.33) |

---

**Condensed consolidated balance sheets**

---

| | | |
|:---|:---|:---|
| | **12/24/2022**<br>**(Unaudited)** | **9/24/2022**<br>**(derived from audited**<br>**Financial statements)** |
| Cash and cash equivalents | $59000 | $7000 |
| Accounts receivable - trade | - | 15000 |
| Receivables - other | 498000 | 516000 |
| Inventory | 972000 | 966000 |
| Other current assets | <u>167000</u> | <u>187000</u> |
| Total current assets | 1696000 | 1691000 |
| Property and equipment, net | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11000 |
| Right-of-use asset | 208000 | 249000 |
| Total assets | <u>$</u> <u>1914000</u> | <u>$</u> <u>1951000</u> |
| Current operating lease liability | $166000 | $164000 |
| Current portion of long-term debt | 3728000 | 3002000 |
| Accounts payable | 257000 | 159000 |
| Customer deposits | 7000 | 4000 |
| Accrued expenses and other current liabilities | <u>337000</u> | <u>325000</u> |
| Total current liabilities | 4495000 | &nbsp;&nbsp;&nbsp;&nbsp;3654000 |
|  |  | <u> </u> |
| Long term operating lease liability | 42000 | 84000 |
| Notes payable | 147000 | 148000 |
| Total liabilities | 4684000 | 3886000 |
| Total stockholders' deficit | <u>(2770000</u> | <u>(1935000</u> |
| Total liabilities and stockholders' deficit | <u>$</u> <u>1914000</u> | <u>$</u> <u>1951000</u> |

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---

| | |
|:---|:---|
| Technical Communications Corporation | Michael P. Malone |
| 100 Domino Drive | Chief Financial Officer |
| Concord, MA 01742 – 2892 | (978) 287-5100 |
|  | www.tccsecure.com |

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