TechPrecision Corporation (OTC:TPCS) Q2 2023 Earnings Call Transcript

Alexander Shen: You’re right. Thank you for pointing out the fact that I have an unbroken string of turnaround success. I wouldn’t have taken this on if I thought we were going to fail. And it’s harder €“ I think in some ways, it’s harder. And as it €“ in some ways, we are also finding some great wonderful things. So I’m not really surprised. There’s not many surprises. It’s hard work. It’s good work. recovered because the marine €“ this is the marine heavy lift chopper that they’re counting on. Failure is not an option.

Ross Taylor: Correct. Very much yes. Okay. Well, I think that, as I said, I look at this and see that I made a comment last quarter, it looks to me like you’ve kind of crossed the Rubicon and strikes me as you €“ everything that I thought then is coming to fruition as well or better than I would have expected or hoped it would. I think this transaction is going to be a huge winner for shareholders. And I think it’s €“ great to see you guys continuing to €“ and quiet honestly hearing you €“ I can hear the confidence when you speak. So I understand I’m very confident that you’ve got this mastered. It’s going to take time and effort, but you’ll get it. Lastly, you commented about the Board will look and decide whether or not they need to do a reverse split.

Coming out of the hedge fund world for much of my life, I would argue that you want the stock to be over $5 a share with a cushion so that you open up a wider range of new potential investors who like to be able to leverage their assets. I’d just tossed that into the mix that if we have that as a consideration when you’re doing it, whatever the price is when you get to it, I would leave it publicly traded over $5 a share, $6 or more dollars a share because I think that would help attract a lot of investors who right now won’t play in the stock for a number of reasons, but would if they had the ability to do so.

Alexander Shen: Okay. Thank you.

Ross Taylor: Okay. And I’ll leave it back to if anyone else wants to follow-up. Thank you.

Thomas Sammons: Thank you.

Alexander Shen: Thanks, Ross.

Ross Taylor: Take care, gentlemen.

Operator: Okay. We have a question coming from Richard Greulich with REG Capital. Please proceed.

Richard Greulich: Good evening. Just wanted to reiterate Ross’ last comment regarding the reversal. I think really, regardless of what the exchange requires, getting the stock over $5 on the reversal would be really advantageous in terms of people being able to purchase the stock. So that’s all. Thank you.

Alexander Shen: Thank you, Rich.

Thomas Sammons: Thank you.

Operator: Okay. The next question is coming from . Greg, your line is live.

Unidentified Analyst: Yes. My question is kind of simple since you’ve been at this for 10-plus years. I’m just wondering when you think the TechPrecision turnaround will be complete?

Alexander Shen: Well, he said, TechPrecision turnaround.

Thomas Sammons: He’s talking about the company, obviously, but…

Unidentified Analyst: Yes. Since we haven’t made any money for endless years, I’m just wondering when it’ll finally be complete.

Alexander Shen: Tom, I’m a little

Thomas Sammons: He wants to know when we’re going to start making money again.

Alexander Shen: So we have made money.

Thomas Sammons: We have made money for a number of years then after 2015, 2016.

Alexander Shen: Are you talking about the Stadco turnaround?

Unidentified Analyst: The company as a whole, I mean you seem to be €“ we seem to be living in the world of plus $0.01, minus $0.01 every quarter. And I’m just wondering when that’s going to be more solidified. We wouldn’t need a reverse split if we made $0.03 a quarter, you’d be over $5. So I’m just wondering when that €“ when the vision is going to be realized?

Thomas Sammons: I can’t answer that question.