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TechPrecision Corporation Announces Appointment of Interim Principal Financial Officer and Addresses Late Filing for FY25 Q3
WESTMINSTER, MA / ACCESS Newswire / February 14, 2025 / TechPrecision Corporation (NASDAQ:TPCS) ("TechPrecision" or "the Company"), today announced that the
About this update from Techprecision Corporation
[{"type":"text","content":"WESTMINSTER, MA / ACCESS Newswire / February 14, 2025 / TechPrecision Corporation (NASDAQ:TPCS) (\"TechPrecision\" or \"the Company\"), today announced that the Board of Directors of the Company, appointed Alexander Shen, the Company's Chief Executive Officer, to serve as the interim principal financial officer and principal accounting officer of the Company, effective at 5:30 p.m. February 14, 2025, after the previously disclosed resignation of Richard Roomberg, the Company's former Chief Financial Officer, took effect. Mr. Shen will serve in these capacities while the Company searches for a replacement for Mr. Roomberg.The company has reported separately in Form 12b-25 that it is unable to file its Quarterly Report on Form 10-Q (the \"Form 10-Q\") for the period ended December 31, 2024 within the prescribed time period.Alexander Shen stated, \"For FY25 Q3, ending December 31, 2024, the company is targeting Friday, Mar 7, 2025 to file. Filing on March 7, 2025 will result in 21 days late. The table below shows the last 12 months filing trend and the days late.\"Fiscal yearFiscal qtrQuarter endFilingSEC due dateActual filing dateDays lateFY24Q312/31/202310-QWed, 02/14/2024Fri, 03/01/2024-16 FY24Year03/31/202410-KMon, 07/01/2024Fri, 09/13/2024-74 FY25Q106/30/202410-QWed, 08/14/2024Thu, 11/07/2024-85 FY25Q209/30/202410-QThu, 11/14/2024Tue, 01/21/2025-68 FY25Q312/31/202410-QFri, 02/14/2025Fri, 03/07/2025-21 [TARGET] \"Resource drain from acquisition activity is the single major contributor to TechPrecision's late SEC filings. Timely reporting is one of our fundamentals; we have been taking steps to achieve and consistently maintain compliance to this requirement.\"About TechPrecision CorporationTechPrecision Corporation, through its wholly owned subsidiaries, Ranor, Inc. and Stadco. The manufacturing operations of our Ranor subsidiary are situated on approximately 65 acres in North Central Massachusetts. Leveraging our 145,000 square foot facilities, Ranor provides a full range of custom solutions to transform material into precision finished welded components and precision finished machined components up to 100 tons: manufacturing engineering, materials management and traceability, high-precision heavy fabrication (in-house fabrication operations include cutting, press and roll forming, welding, heat treating, assembly, blasting an...