WESTMINSTER, MA - TechPrecision Corporation (NASDAQ:TPCS), a manufacturer of large-scale metal fabricated and machined precision components, has announced that it has filed its overdue Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2023. This filing comes after the company received a notice from Nasdaq on February 26, 2024, for not complying with the Nasdaq Listing Rule 5250(c)(1), which requires timely financial reporting.
The non-compliance notice was issued because TechPrecision did not file the report by February 20, 2024, the extended deadline. However, the company has since submitted the required documentation and expects Nasdaq to accept this as a remedy for the deficiency.
TechPrecision's products are primarily used in the defense, aerospace, and precision industrial markets. The company aims to provide end-to-end solutions for products requiring custom fabrication and machining, assembly, inspection, and testing.
The delay in filing had put TechPrecision at risk of being out of compliance with Nasdaq's listing requirements. The notice from Nasdaq had allowed the company a 60-day period, until April 26, 2024, to submit a plan to regain compliance. Nasdaq also offered the possibility of granting an extension of up to 180 calendar days from the original due date for the Q3 Form 10-Q, which would be until August 12, 2024, for the company to regain compliance.
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