TPCS News & Events

TechPrecision "announced the appointment of Phillip E. Podgorski as its new CFO, effective today. Mr. Podgorski was the Chief Financial Officer for the RTX Technology Research Center, a division of RTX Corporation, a public aerospace and defense company, since 2013."

TechPrecision announced it received a standard notice on February 21 from Nasdaq stating that the company is not in compliance with Nasdaq Listing Rule 5250 because it had not timely filed its Quarterly Report on Form 10-Q for the period ended December 31, 2024 with the SEC on or before February 19, the extended period provided for the filing under Rule 12b-25 of the Securities Exchange Act of 1934, as amended.

TechPrecision announced that the Board of Directors of the company appointed Alexander Shen, the company's CEO, to serve as the interim principal financial officer and principal accounting officer ofthe company, effective at 5:30 p.m. February 14, after the previously disclosed resignation of Richard Roomberg, the company's former CFO, took effect. Shen will serve in these capacities while the company searches for a replacement for Roomberg. The company has reported separately in Form 12b-25 that it is unable to file its Quarterly Report on 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. 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."