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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities
and Exchange Act of 1934
Date of Report (Date of earliest event reported):
February 29, 2024
TECHPRECISION CORPORATION
(Exact Name of Registrant as Specified in Charter)
Delaware |
|
000-41698 |
|
51-0539828 |
(State or Other Jurisdiction
of Incorporation or Organization) |
|
(Commission File Number) |
|
(IRS Employer Identification No.) |
1 Bella Drive
Westminster, MA 01473
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(978) 874-0591
Securities registered or to be registered pursuant to Section 12(b)
of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each
exchange on which registered |
Common Stock, par value $0.0001 per share |
|
TPCS |
|
Nasdaq Capital Market |
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)) |
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 29, 2024, TechPrecision
Corporation issued a press release announcing its financial results for the third quarter ended December 31, 2023. A copy of the
press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information
in this Item 2.02 of Form 8-K and Exhibit 99.1 attached hereto 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, nor shall it be deemed incorporated
by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference.
Item 9.01 |
Financial Statements and Exhibits. |
SIGNATURES
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.
|
TECHPRECISION CORPORATION |
|
|
|
Date: February 29, 2024 |
By: |
/s/ Barbara M. Lilley |
|
Name: |
Barbara M. Lilley |
|
Title: |
Chief Financial Officer |
Exhibit 99.1
Company Contact: |
Investor Relations Contact: |
Barbara M. Lilley |
Hayden IR |
Chief Financial Officer |
Brett Maas |
TechPrecision Corporation |
Phone: 646-536-7331 |
Phone: 978-883-5102 |
Email: brett@haydenir.com |
Email: lilleyb@ranor.com |
Website: www.haydenir.com |
Website: www.techprecision.com |
|
FOR IMMEDIATE RELEASE
TechPrecision Corporation Reports FY 2024 Third
Quarter Financial Results
Backlog increased to $50.8 million, Customer confidence
remains high,
Westminster, MA – February 28, 2024–
TechPrecision Corporation (NASDAQ: TPCS) (“TechPrecision” or “the Company”), an industry-leading manufacturer
of precision, large-scale fabricated and machined metal components and tested systems with customers in the defense and precision industrial
sectors, today reported financial results for the third quarter of fiscal year 2024.
“Customer confidence remains high, further
strengthening the backlog to $50.8 million as of December 31, 2023, from $44.6 million as of September 30, 2023,” stated Alexander
Shen, TechPrecision’s Chief Executive Officer. “Third quarter consolidated net sales were $7.6 million when compared to $8.3
million in the fiscal 2023 third quarter, or 8% lower.”
“The third quarter net sales were dampened
by a lower number of labor hours available during the November/December holiday calendar,” Mr. Shen continued. “Our operating
losses at Stadco have narrowed year over year. We expect to deliver our backlog over the course of the next one to three fiscal years
with revenue growth and gross margin expansion.”
“Consolidated gross profit was $1.2 million
or $0.3 million lower than the same quarter a year ago. We also spent approximately $1.0 million on due diligence costs related to a potential
acquisition in the quarter. The sum of the gross profit shortfall and and business development costs fell directly to our bottom line
for the third quarter.”
The following summary compares the three and nine
months ended December 31, 2023 to the same prior year period:
Consolidated Financial Results - Fiscal 2024
Three Months Ended December 31, 2023
· |
Net sales were $7.7 million, a or 8% lower when compared to the same period in fiscal 2023, on a different proportionate project mix of products and a decline in utilized labor hours. |
· |
Cost of sales were $6.5 million, or 5% lower, due primarily to lower revenue. |
· |
Gross profit was $1.2 million, or 23% lower, primarily due to the top line revenue decline. |
· |
SG&A increased by $0.9 million, due primarily to increased expenditures for outside advisory services in connection with due diligence of a potential acquisition target. |
· |
Operating loss was $1.0 million compared to operating income of $0.3 million in the same period a year ago. |
· |
Interest expense was higher due to increased borrowing and higher interest rates under the revolver loan. |
Consolidated Financial Results - Fiscal 2024 Nine Months
Ended December 31, 2023
· |
Net sales were $23.0 million, or 4% lower when compared to the same period in fiscal 2023, on a different proportionate project mix of products and a decline in direct labor hours. |
· |
Cost of sales were $20.1 million, or 1% higher, due primarily to underapplied factory overhead. |
· |
Gross profit was $2.9 million, or 29% lower, primarily due to the top line revenue decline. |
· |
SG&A was $0.6 million higher, an increase of 14% compared to the same period last year, due to outside advisory and business development expenses in connection with a potential acquisition. |
· |
Operating loss was $2.2 million compared to operating loss of $0.4 million in the same period a year ago. |
· |
Interest expense was higher due to increased borrowing and interest rates under the revolver loan. |
Financial Position
On December 31, 2023, TechPrecision had $0.4
million in cash and cash equivalents, a decrease since March 31, 2023. Working capital was negative at December 31, 2023 as
the Company reclassified all of its long-term debt to current because of a debt covenant violation. Working capital was $5.6 million at
March 31, 2023. Total debt at December 31, 2023 and March 31, 2023 was $7.6 million and $6.1 million, respectively.
About TechPrecision Corporation
TechPrecision Corporation, through its wholly
owned subsidiaries, Ranor, Inc. and Stadco, manufactures large-scale, metal fabricated and machined precision components and equipment.
These products are used in a variety of markets including: defense, aerospace, nuclear, medical, and precision industrial. TechPrecision's
goal is to be an end-to-end service provider to its customers by furnishing customized solutions for completed products requiring custom
fabrication and machining, assembly, inspection and testing. To learn more about the Company, please visit the corporate website at http://www.techprecision.com.
Information on the Company's website or any other website does not constitute a part of this press release.
Safe Harbor Statement
This release contains certain “forward-looking
statements” relating to the business of the Company and its subsidiary companies. All statements other than statements of current
or historical fact contained in this press release, including statements that express our intentions, plans, objectives, beliefs, expectations,
strategies, predictions or any other statements relating to our future activities or other future events or conditions are forward-looking
statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,”
“expect,” “intend,” “may,” “plan,” “predict,” “project,” “prospects,”
“will,” “should,” “would” and similar expressions, as they relate to us, are intended to identify
forward-looking statements. These statements are based on current expectations, estimates and projections made by management about our
business, our industry and other conditions affecting our financial condition, results of operations or business prospects. These statements
are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual
outcomes and results may differ materially from what is expressed or forecasted in, or implied by, the forward-looking statements due
to numerous risks and uncertainties. Factors that could cause such outcomes and results to differ include, but are not limited to, risks
and uncertainties arising from: our reliance on individual purchase orders, rather than long-term contracts, to generate revenue; our
ability to balance the composition of our revenues and effectively control operating expenses; external factors that may be outside our
control, including health emergencies, like epidemics or pandemics, the conflicts in Eastern Europe and the Middle East, price inflation,
interest rate increases and supply chain inefficiencies; the availability of appropriate financing facilities impacting our operations,
financial condition and/or liquidity; our ability to receive contract awards through competitive bidding processes; our ability to maintain
standards to enable us to manufacture products to exacting specifications; our ability to enter new markets for our services; our reliance
on a small number of customers for a significant percentage of our business; competitive pressures in the markets we serve; changes in
the availability or cost of raw materials and energy for our production facilities; restrictions in our ability to operate our business
due to our outstanding indebtedness; government regulations and requirements; pricing and business development difficulties; changes in
government spending on national defense; our ability to make acquisitions and successfully integrate those acquisitions with our business;
our failure to maintain effective internal controls over financial reporting; general industry and market conditions and growth rates;
and other risks discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available
on its website (www.sec.gov). Any forward-looking statements speak only as of the date on which they are made, and we undertake no obligation
to publicly update or revise any forward-looking statements to reflect events or circumstances that may arise after the date of this press
release, except as required by applicable law. Investors should evaluate any statements made by us in light of these important factors.
-- Tables Follow –
TECHPRECISION CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
| |
(Unaudited) December 31, | | |
March 31, | |
| |
2023 | | |
2023 | |
ASSETS | |
| | | |
| | |
Current assets: | |
| | | |
| | |
Cash and cash equivalents | |
$ | 391,245 | | |
$ | 534,474 | |
Accounts receivable, net | |
| 2,192,061 | | |
| 2,336,481 | |
Contract assets | |
| 8,372,183 | | |
| 8,947,811 | |
Raw materials | |
| 2,054,348 | | |
| 1,692,852 | |
Work-in-process | |
| 1,586,187 | | |
| 719,736 | |
Other current assets | |
| 653,603 | | |
| 348,983 | |
Total current assets | |
| 15,249,627 | | |
| 14,580,337 | |
Property, plant and equipment, net | |
| 15,429,441 | | |
| 13,914,024 | |
Right-of-use assets, net | |
| 5,149,898 | | |
| 5,660,938 | |
Deferred income taxes | |
| 2,494,544 | | |
| 1,931,186 | |
Other noncurrent assets, net | |
| 121,256 | | |
| 121,256 | |
Total assets | |
$ | 38,444,766 | | |
$ | 36,207,741 | |
LIABILITIES AND STOCKHOLDERS’ EQUITY: | |
| | | |
| | |
Current liabilities: | |
| | | |
| | |
Accounts payable | |
$ | 1,727,108 | | |
$ | 2,224,320 | |
Accrued expenses | |
| 2,716,088 | | |
| 2,533,185 | |
Contract liabilities | |
| 4,035,384 | | |
| 2,333,591 | |
Current portion of long-term lease liability | |
| 727,683 | | |
| 711,727 | |
Current portion of long-term debt, net | |
| 7,434,623 | | |
| 1,218,162 | |
Total current liabilities | |
| 16,640,886 | | |
| 9,020,985 | |
Long-term debt, net | |
| -- | | |
| 4,749,139 | |
Long-term lease liability | |
| 4,595,170 | | |
| 5,143,974 | |
Other noncurrent liability | |
| 4,373,494 | | |
| 2,699,492 | |
Total liabilities | |
| 25,609,550 | | |
| 21,613,590 | |
Stockholders’ Equity: | |
| | | |
| | |
Common stock - par value $.0001 per share, shares authorized: 50,000,000; Shares issued and outstanding: 8,762,432 at December 31, 2023 and 8,613,408 at March 31, 2023 | |
| 876 | | |
| 861 | |
Additional paid in capital | |
| 15,111,901 | | |
| 14,949,729 | |
Accumulated deficit | |
| (2,277,561 | ) | |
| (356,439 | ) |
Total stockholders’ equity | |
| 12,835,216 | | |
| 14,594,151 | |
Total liabilities and stockholders’ equity | |
$ | 38,444,766 | | |
$ | 36,207,741 | |
TECHPRECISION CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
| |
Three Months Ended December 31, | | |
Nine Months Ended December 31, | |
| |
2023 | | |
2022 | | |
2023 | | |
2022 | |
Net sales | |
$ | 7,649,663 | | |
$ | 8,327,345 | | |
$ | 22,990,989 | | |
$ | 23,926,349 | |
Cost of sales | |
| 6,488,859 | | |
| 6,828,458 | | |
| 20,101,221 | | |
| 19,870,572 | |
Gross profit | |
| 1,160,804 | | |
| 1,498,887 | | |
| 2,889,768 | | |
| 4,055,777 | |
Selling, general and administrative | |
| 2,156,866 | | |
| 1,224,572 | | |
| 5,062,983 | | |
| 4,426,894 | |
(Loss) income from operations | |
| (996,062 | ) | |
| 274,315 | | |
| (2,173,215 | ) | |
| (371,117 | ) |
Other income | |
| 1 | | |
| 254 | | |
| 40,877 | | |
| 40,590 | |
Interest expense | |
| (109,503 | ) | |
| (93,603 | ) | |
| (352,142 | ) | |
| (260,978 | ) |
Refundable employee retention tax credits | |
| -- | | |
| -- | | |
| -- | | |
| 624,045 | |
Total other (expense) income | |
| (109,502 | ) | |
| (93,349 | ) | |
| (311,265 | ) | |
| 403,657 | |
(Loss) income before income taxes | |
| (1,105,564 | ) | |
| 180,966 | | |
| (2,484,480 | ) | |
| 32,540 | |
Income tax (benefit) expense | |
| (240,230 | ) | |
| 46,991 | | |
| (563,358 | ) | |
| 8,786 | |
Net (loss) income | |
$ | (865,334 | ) | |
$ | 133,975 | | |
$ | (1,921,122 | ) | |
$ | 23,754 | |
Net (loss) earnings per share basic | |
$ | (0.10 | ) | |
$ | 0.02 | | |
$ | (0.22 | ) | |
$ | 0.00 | |
Net (loss) earnings per share diluted | |
$ | (0.10 | ) | |
$ | 0.01 | | |
$ | (0.22 | ) | |
$ | 0.00 | |
Weighted average shares outstanding – basic | |
| 8,759,171 | | |
| 8,610,990 | | |
| 8,698,034 | | |
| 8,590,838 | |
Weighted average shares outstanding - diluted | |
| 8,759,171 | | |
| 9,033,677 | | |
| 8,698,034 | | |
| 9,009,867 | |
TECHPRECISION CORPORATION
NET SALES, COST OF SALES, GROSS PROFIT BY SEGMENT
(UNAUDITED)
| |
Three
Months Ended
December 31, 2023 | | |
Three
Months Ended
December 31, 2022 | | |
Changes |
(dollars in
thousands) | |
Amount | | |
Percent
of Net
sales | | |
Amount | | |
Percent
of Net
sales | | |
Amount | | |
Percent | |
Net sales | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Ranor | |
$ | 4,296 | | |
| 56 | % | |
$ | 4,735 | | |
| 57 | % | |
$ | (439 | ) | |
| (9 | )% |
Stadco | |
| 3,370 | | |
| 44 | % | |
| 3,592 | | |
| 43 | % | |
| (222 | ) | |
| (6 | )% |
Intersegment elimination | |
| (16 | ) | |
| -- | % | |
| -- | | |
| -- | % | |
| (16 | ) | |
| nm | % |
Consolidated Net sales | |
$ | 7,650 | | |
| 100 | % | |
$ | 8,327 | | |
| 100 | % | |
$ | (677 | ) | |
| (8 | )% |
Cost of sales | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Ranor | |
$ | 2,919 | | |
| 38 | % | |
$ | 3,056 | | |
| 37 | % | |
$ | (137 | ) | |
| (4 | )% |
Stadco | |
| 3,570 | | |
| 47 | % | |
| 3,773 | | |
| 45 | % | |
| (203 | ) | |
| (5 | )% |
Consolidated Cost of sales | |
$ | 6,489 | | |
| 85 | % | |
$ | 6,828 | | |
| 82 | % | |
$ | (339 | ) | |
| (5 | )% |
Gross profit (loss) | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Ranor | |
$ | 1,377 | | |
| 18 | % | |
$ | 1,680 | | |
| 20 | % | |
$ | (303 | ) | |
| (18 | )% |
Stadco | |
| (216 | ) | |
| (3 | )% | |
| (181 | ) | |
| (2 | )% | |
| (35 | ) | |
| (19 | )% |
Consolidated Gross profit | |
$ | 1,161 | | |
| 15 | % | |
$ | 1,499 | | |
| 18 | % | |
$ | (338 | ) | |
| (23 | )% |
| |
Nine Months Ended December 31, 2023 | | |
Nine Months Ended December 31, 2022 | | |
Changes | |
(dollars in thousands) | |
Amount | | |
Percent of Net sales | | |
Amount | | |
Percent of Net sales | | |
Amount | | |
Percent | |
Net sales | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Ranor | |
$ | 13,291 | | |
| 58 | % | |
$ | 14,395 | | |
| 60 | % | |
$ | (1,104 | ) | |
| (8 | )% |
Stadco | |
| 9,943 | | |
| 43 | % | |
| 9,531 | | |
| 40 | % | |
| 412 | | |
| 4 | % |
Intersegment elimination | |
| (243 | ) | |
| (1 | )% | |
| -- | | |
| | % | |
| (243 | ) | |
| nm | % |
Consolidated Net sales | |
$ | 22,991 | | |
| 100 | % | |
$ | 23,926 | | |
| 100 | % | |
$ | (935 | ) | |
| (4 | )% |
Cost of sales | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Ranor | |
$ | 9,364 | | |
| 40 | % | |
$ | 8,849 | | |
| 37 | % | |
$ | 515 | | |
| 6 | % |
Stadco | |
| 10,737 | | |
| 47 | % | |
| 11,022 | | |
| 46 | % | |
| (285 | ) | |
| (3 | )% |
Consolidated Cost of sales | |
$ | 20,101 | | |
| 87 | % | |
$ | 19,871 | | |
| 83 | % | |
$ | 230 | | |
| 1 | % |
Gross profit (loss) | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Ranor | |
$ | 3,703 | | |
| 16 | % | |
$ | 5,546 | | |
| 23 | % | |
$ | (1,843 | ) | |
| (33 | )% |
Stadco | |
| (813 | ) | |
| (3 | )% | |
| (1,491 | ) | |
| (6 | )% | |
| 678 | | |
| 45 | % |
Consolidated Gross profit | |
$ | 2,890 | | |
| 13 | % | |
$ | 4,055 | | |
| 17 | % | |
$ | (1,165 | ) | |
| (29 | )% |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
nm – not meaningful
TECHPRECISION CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
| |
Nine Months Ended December 31, | |
| |
2023 | | |
2022 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |
| | | |
| | |
Net (loss) income | |
$ | (1,921,122 | ) | |
$ | 23,754 | |
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | |
| | | |
| | |
Depreciation and amortization | |
| 1,758,925 | | |
| 1,666,741 | |
Amortization of debt issue costs | |
| 54,820 | | |
| 39,961 | |
Stock-based compensation expense | |
| 196,200 | | |
| 307,619 | |
Change in contract loss provision | |
| 155,317 | | |
| 100,880 | |
Deferred income taxes | |
| (563,358 | ) | |
| 8,785 | |
Gain on disposal of fixed assets | |
| (40,399 | ) | |
| (468 | ) |
Change in fair value for contingent consideration | |
| -- | | |
| 63,436 | |
Changes in operating assets and liabilities: | |
| | | |
| | |
Accounts receivable | |
| 144,420 | | |
| 81,842 | |
Contract assets | |
| 575,628 | | |
| (1,006,010 | ) |
Work-in-process and raw materials | |
| (1,227,947 | ) | |
| (57,450 | ) |
Other current assets | |
| (304,620 | ) | |
| 435,435 | |
Accounts payable | |
| (497,212 | ) | |
| (166,749 | ) |
Accrued expenses | |
| (526,899 | ) | |
| (1,741,606 | ) |
Contract liabilities | |
| 1,701,793 | | |
| 139,944 | |
Other noncurrent liabilities | |
| 1,674,002 | | |
| 974,737 | |
Net cash provided by operating activities | |
| 1,179,548 | | |
| 870,851 | |
CASH FLOWS FROM INVESTING ACTIVITIES: | |
| | | |
| | |
Proceeds from insurance claim and sale on fixed assets | |
| 61,944 | | |
| 7,000 | |
Fixed asset deposit | |
| -- | | |
| (605,200 | ) |
Purchases of property, plant and equipment | |
| (2,782,346 | ) | |
| (663,033 | ) |
Net cash used in investing activities | |
| (2,720,402 | ) | |
| (1,261,233 | ) |
CASH FLOWS FROM FINANCING ACTIVITIES: | |
| | | |
| | |
Debt issue costs | |
| (39,963 | ) | |
| (43,945 | ) |
Revolver loan payments and borrowings, net | |
| 1,900,000 | | |
| 187,998 | |
Payments of principal for leases | |
| (14,877 | ) | |
| (31,058 | ) |
Repayments of long-term debt | |
| (447,535 | ) | |
| (458,567 | ) |
Net cash provided by (used in) financing activities | |
| 1,397,625 | | |
| (345,572 | ) |
Net decrease in cash and cash equivalents | |
| (143,229 | ) | |
| (735,954 | ) |
Cash and cash equivalents, beginning of period | |
| 534,474 | | |
| 1,052,139 | |
Cash and cash equivalents, end of period | |
$ | 391,245 | | |
$ | 316,185 | |
TECHPRECISION CORPORATION
SUPPLEMENTAL INFORMATION
Reconciliation of EBITDA to Net (Loss) Income
(UNAUDITED)
The following table provides a reconciliation
of EBITDA to net (loss) income, the most directly comparable U.S. GAAP measure reported in our condensed consolidated financial statements
for the following periods:
| |
Three Months ended December 31, | | |
Nine Months ended December 31, | |
(dollars in thousands) | |
2023 | | |
2022 | | |
Change | | |
2023 | | |
2022 | | |
Change | |
Net (loss) income | |
$ | (865 | ) | |
$ | 134 | | |
| (999 | ) | |
$ | (1,921 | ) | |
$ | 24 | | |
$ | (1,945 | ) |
Income tax (benefit) expense | |
| (240 | ) | |
| 47 | | |
| (287 | ) | |
| (563 | ) | |
| 9 | | |
| (572 | ) |
Interest expense (1) | |
| 109 | | |
| 94 | | |
| 15 | | |
| 352 | | |
| 261 | | |
| 91 | |
Depreciation and amortization | |
| 631 | | |
| 550 | | |
| 81 | | |
| 1,759 | | |
| 1,667 | | |
| 92 | |
EBITDA | |
$ | (365 | ) | |
$ | 825 | | |
| (1,190 | ) | |
$ | (373 | ) | |
$ | 1,961 | | |
$ | (2,334 | ) |
|
(1) |
Includes amortization of debt issue costs. |
#
v3.24.0.1
X |
- DefinitionBoolean flag that is true when the XBRL content amends previously-filed or accepted submission.
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- DefinitionFor the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
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- DefinitionThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
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- DefinitionAddress Line 1 such as Attn, Building Name, Street Name
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- DefinitionCode for the postal or zip code
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- DefinitionName of the state or province.
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- DefinitionA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
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- DefinitionIndicate if registrant meets the emerging growth company criteria.
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- DefinitionCommission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
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- DefinitionTwo-character EDGAR code representing the state or country of incorporation.
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- DefinitionThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
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- DefinitionThe Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
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- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
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- DefinitionTitle of a 12(b) registered security.
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- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
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