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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Tandy Leather Factory Inc (PK) | USOTC:TLFA | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 5.48 | 5.02 | 5.70 | 0.00 | 01:00:00 |
Delaware
|
75-2543540
|
|
(State or other jurisdiction of incorporation or organization)
|
(I.R.S. Employer Identification No.)
|
Title of each class
|
Trading Symbol
|
Name of each exchange on which registered
|
Common Stock, par value $0.0024
|
TLFA
|
N/A*
|
Large accelerated filer ☐
|
Non-accelerated filer ☒
|
|
Accelerated filer ☐
|
Smaller reporting company ☒
|
|
Emerging growth company ☐
|
2
|
|
2
|
|
6
|
|
16 | |
24 | |
29 | |
29 | |
29 | |
29 | |
30 | |
31 |
Item 1. |
Condensed Consolidated Financial Statements.
|
Three Months Ended June 30,
|
Six Months Ended June 30, | |||||||||||||||
2022
|
2021
|
2022 |
2021 |
|||||||||||||
Net sales
|
$
|
18,410
|
$
|
18,566
|
$ | 38,910 | $ | 39,960 | ||||||||
Cost of sales
|
7,909
|
7,285
|
16,478 | 16,493 | ||||||||||||
Gross profit
|
10,501
|
11,281
|
22,432 | 23,467 | ||||||||||||
Operating expenses
|
11,238
|
10,557
|
22,339 | 21,778 | ||||||||||||
Income (loss) from operations
|
(737
|
)
|
724
|
93 | 1,689 | |||||||||||
Other expense:
|
||||||||||||||||
Interest expense
|
8
|
5
|
11 | 10 | ||||||||||||
Other, net
|
22
|
22
|
6 | 14 | ||||||||||||
Total other expense
|
30
|
27
|
17 | 24 | ||||||||||||
Income (loss) before income taxes
|
(767
|
)
|
697
|
76 | 1,665 | |||||||||||
Provision (benefit) for income taxes
|
(178
|
)
|
157
|
20 | 380 | |||||||||||
Net income (loss)
|
$
|
(589
|
)
|
$
|
540
|
$ |
56 | $ |
1,285 | |||||||
Foreign currency translation adjustments, net of tax
|
(253
|
)
|
69
|
(188 | ) | 36 | ||||||||||
Comprehensive income (loss)
|
$
|
(842
|
)
|
$
|
609
|
$ |
(132 | ) | $ |
1,321 | ||||||
Net income (loss) per common share:
|
||||||||||||||||
Basic
|
$
|
(0.07
|
)
|
$
|
0.06
|
0.01 | 0.15 | |||||||||
Diluted
|
$
|
(0.07
|
)
|
$
|
0.06
|
0.01 | 0.15 | |||||||||
Weighted average number of shares outstanding:
|
||||||||||||||||
Basic
|
8,279,108
|
8,664,768
|
8,426,181 | 8,737,854 | ||||||||||||
Diluted
|
8,279,108
|
8,670,093
|
8,432,897 | 8,740,116 |
For the Six Months Ended June 30,
|
||||||||
2022
|
2021
|
|||||||
Cash flows from operating activities:
|
||||||||
Net income
|
$
|
56
|
$
|
1,285
|
||||
Adjustments to reconcile net income to net cash used in operating activities:
|
||||||||
Depreciation and amortization
|
596
|
539
|
||||||
Operating lease asset amortization
|
1,625
|
1,619
|
||||||
Loss (gain) on disposal of assets |
8 |
(1 | ) | |||||
Stock-based compensation
|
565
|
387
|
||||||
Deferred income taxes
|
(1
|
)
|
19
|
|||||
Changes in operating assets and liabilities:
|
||||||||
Accounts receivable-trade
|
148
|
(84
|
)
|
|||||
Inventory
|
(2,123
|
)
|
(4,754
|
)
|
||||
Prepaid expenses
|
(553
|
)
|
(329
|
)
|
||||
Other current assets
|
15
|
(5
|
)
|
|||||
Accounts payable-trade
|
1,336
|
(1,088
|
)
|
|||||
Accrued expenses and other liabilities
|
(934
|
)
|
44
|
|||||
Income taxes, net
|
(912
|
)
|
1,355
|
|||||
Other assets
|
48
|
(5
|
)
|
|||||
Operating lease liabilities
|
(1,697
|
)
|
(1,743
|
)
|
||||
Total adjustments
|
(1,879
|
)
|
(4,046
|
)
|
||||
Net cash used in operating activities
|
(1,823
|
)
|
(2,761
|
)
|
||||
Cash flows from investing activities:
|
||||||||
Purchase of property and equipment
|
(454
|
)
|
(212
|
)
|
||||
Net cash used in investing activities
|
(454
|
)
|
(212
|
)
|
||||
Cash flows from financing activities:
|
||||||||
Payments on long-term debt |
(399 | ) | - |
|||||
Payment of finance lease obligations
|
(7
|
)
|
(7
|
)
|
||||
Repurchase of common stock
|
(1,798
|
)
|
(1,675
|
)
|
||||
Purchase of vested stock for employee payroll tax |
- |
(15 | ) | |||||
Net cash used in financing activities
|
(2,204
|
)
|
(1,697
|
)
|
||||
Effect of exchange rate changes on cash and cash equivalents
|
(86
|
)
|
45
|
|||||
Net decrease in cash and cash equivalents
|
(4,567
|
)
|
(4,625
|
)
|
||||
Cash and cash equivalents, beginning of period
|
10,155
|
10,329
|
||||||
Cash and cash equivalents, end of period
|
$
|
5,588
|
$
|
5,704
|
Number of
Shares Common
Stock
Outstanding
|
Par
Value
|
Paid-in
Capital
|
Treasury Stock
|
Retained
Earnings
|
Accumulated
Other
Comprehensive
Income (Loss)
|
Total
|
||||||||||||||||||||||
Balance, December 31, 2021
|
8,547,335
|
$
|
24
|
$
|
3,959
|
$
|
(9,773
|
)
|
$
|
58,664
|
$
|
(1,373
|
)
|
$
|
51,501
|
|||||||||||||
Stock-based compensation expense
|
-
|
-
|
340
|
-
|
-
|
-
|
340
|
|||||||||||||||||||||
Vesting of restricted stock units
|
47,423
|
-
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||
Net income
|
-
|
-
|
-
|
-
|
645
|
-
|
645
|
|||||||||||||||||||||
Foreign currency translation
adjustments, net of tax
|
-
|
-
|
-
|
-
|
-
|
65
|
65
|
|||||||||||||||||||||
Balance, March 31, 2022
|
8,594,758
|
$
|
24
|
$
|
4,299
|
$
|
(9,773
|
)
|
$
|
59,309
|
$
|
(1,308
|
)
|
$
|
52,551
|
|||||||||||||
Stock-based compensation expense
|
- | - | 225 | - | - | - | 225 | |||||||||||||||||||||
Vesting of restricted stock units
|
854 | - | - | - | - | - | - | |||||||||||||||||||||
Repurchase of common stock
|
(359,500 | ) | (1 | ) | (1,797 | ) | - | - | - | (1,798 | ) | |||||||||||||||||
Net income
|
- | - | - | - | (589 | ) | - | (589 | ) | |||||||||||||||||||
Foreign currency translation
adjustments, net of tax
|
- | - | - | - | - | (253 | ) | (253 | ) | |||||||||||||||||||
Balance, June 30, 2022
|
8,236,112 | $ | 23 | $ | 2,727 | $ | (9,773 | ) | $ | 58,720 | $ | (1,561 | ) | $ | 50,136 | |||||||||||||
Balance, December 31, 2020
|
9,150,806
|
$
|
25
|
$
|
5,924
|
$
|
(9,773
|
)
|
$
|
57,310
|
$
|
(1,292
|
)
|
$ |
52,194
|
|||||||||||||
Stock-based compensation expense
|
-
|
-
|
183
|
-
|
-
|
-
|
183
|
|||||||||||||||||||||
Vesting of restricted stock units
|
16,080
|
-
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||
Repurchase of common stock
|
(500,000
|
)
|
(1
|
)
|
(1,674
|
)
|
-
|
-
|
-
|
(1,675
|
)
|
|||||||||||||||||
Net income
|
-
|
-
|
-
|
-
|
745
|
-
|
745
|
|||||||||||||||||||||
Foreign currency translation
adjustments, net of tax
|
-
|
-
|
-
|
-
|
-
|
(33
|
)
|
(33
|
)
|
|||||||||||||||||||
Balance, March 31, 2021
|
8,666,886
|
$
|
24
|
$
|
4,433
|
$
|
(9,773
|
)
|
$
|
58,055
|
$
|
(1,325
|
)
|
$
|
51,414
|
|||||||||||||
Stock-based compensation expense
|
- | - | 204 | - | - | - | 204 | |||||||||||||||||||||
Purchase of vested stock for
employee payroll tax
withholding
|
(2,965 | ) | - | (15 | ) | - | - | - | (15 | ) | ||||||||||||||||||
Net income
|
- | - | - | - | 540 | - | 540 | |||||||||||||||||||||
Foreign currency translation
adjustments, net of tax
|
- | - | - | - | - | 69 | 69 | |||||||||||||||||||||
Balance, June 30, 2021
|
8,663,921 | $ | 24 | $ | 4,622 | $ | (9,773 | ) | $ | 58,595 | $ | (1,256 | ) | $ | 52,212 |
|
Three Months Ended June 30,
|
Six Months Ended June 30, | ||||||||||||||
(in thousands) |
2022
|
2021
|
2022 |
2021 |
||||||||||||
United States
|
$
|
16,426
|
$
|
16,613
|
$ | 34,560 | $ | 35,365 | ||||||||
Canada
|
1,687
|
1,531
|
3,676 | 3,688 | ||||||||||||
Spain
|
297
|
422
|
674 | 907 | ||||||||||||
Net sales
|
$
|
18,410
|
$
|
18,566
|
$ | 38,910 | $ | 39,960 |
(in thousands)
|
June 30, 2022
|
December 31, 2021
|
||||||
On hand:
|
||||||||
Finished goods held for sale
|
$
|
35,858
|
$
|
34,928
|
||||
Raw materials and work in process
|
1,319
|
828
|
||||||
Inventory in transit
|
2,935
|
2,328
|
||||||
TOTAL
|
$
|
40,112
|
$
|
38,084
|
•
|
Level 1 – observable inputs that reflect quoted prices in active markets for identical assets or liabilities.
|
•
|
Level 2 – significant observable inputs other than quoted prices in active markets for similar assets and liabilities, such as quoted prices for identical or similar assets or liabilities in markets that
are not active; or other inputs that are observable or can be corroborated by observable market data.
|
•
|
Level 3 – significant unobservable inputs reflecting our own assumptions, consistent with reasonably available assumptions made by other market participants.
|
Shares
(in thousands) |
Weighted Average
Share Price |
|||||||
Balance, January 1, 2022
|
419
|
$
|
7.05
|
|||||
Granted
|
161
|
5.01
|
||||||
Vested
|
(48
|
)
|
4.99
|
|||||
Balance, June 30, 2022
|
532
|
$
|
6.62
|
Unrecognized Expense
|
||||
2022
|
$
|
496
|
||
2023
|
752
|
|||
2024
|
239
|
|||
2025
|
89
|
|||
2026
|
7
|
|||
|
$
|
1,583
|
(in thousands, except share data)
|
Three Months Ended June 30,
|
Six Months Ended June 30, |
||||||||||||||
2022
|
2021
|
2022
|
2021
|
|||||||||||||
Numerator: | ||||||||||||||||
Net income (loss)
|
$
|
(589
|
)
|
$
|
540
|
$ | 56 | $ | 1,285 | |||||||
Denominator:
|
||||||||||||||||
Basic weighted-average common shares ouststanding
|
8,279,108
|
8,664,768
|
8,426,181 | 8,737,854 | ||||||||||||
Dilutive effect of service-based restricted stock awards granted to Board of Directors under the Plan
|
- | 5,325 | 5,259 | 2,262 | ||||||||||||
Dilutive effect of service-based restricted stock awards granted to employees under the Plan
|
- |
- |
1,457 |
- |
||||||||||||
Diluted weighted-average common shares outstanding
|
8,279,108
|
8,670,093
|
8,432,897 | 8,740,116 |
1. |
Improving our brand proposition, with both retail and commercial customers
|
2. |
Rebuilding our foundation – the talent, processes, tools and systems needed to serve these customers
|
3. |
Position us for long-term growth – creating the vision and roadmap for the future
|
Three Months Ended June 30,
|
||||||||||||||||
(in thousands)
|
2022
|
2021
|
$ Change
|
% Change
|
||||||||||||
Net sales
|
$
|
18,410
|
$
|
18,566
|
$
|
(156
|
)
|
(0.8
|
)%
|
|||||||
Gross profit
|
10,501
|
11,281
|
(780
|
)
|
(6.9
|
)%
|
||||||||||
Gross margin percentage
|
57.0
|
%
|
60.8
|
%
|
(3.8
|
)%
|
||||||||||
Operating expenses
|
11,238
|
10,557
|
681
|
6.4
|
%
|
|||||||||||
Income (loss) from operations
|
$
|
(737
|
)
|
$
|
724
|
$
|
(1,461
|
)
|
(201.8
|
)%
|
Three Months Ended June 30,
|
||||||||
(in thousands)
|
2022
|
2021
|
||||||
Operating expenses
|
$
|
11,238
|
$
|
10,557
|
||||
Non-routine items related to restatement
|
(169
|
)
|
(326
|
)
|
||||
Adjusted operating expenses
|
$
|
11,069
|
$
|
10,231
|
||||
Operating expenses % of sales
|
61.0
|
%
|
56.9
|
%
|
||||
Adjusted operating expenses % of sales
|
60.1
|
%
|
55.1
|
%
|
Six Months Ended June 30,
|
||||||||||||||||
(in thousands)
|
2022
|
2021
|
$ Change
|
% Change
|
||||||||||||
Net sales
|
$
|
38,910
|
$
|
39,960
|
$
|
(1,050
|
)
|
(2.6
|
)%
|
|||||||
Gross profit
|
22,432
|
23,467
|
(1,035
|
)
|
(4.4
|
)%
|
||||||||||
Gross margin percentage
|
57.7
|
%
|
58.7
|
%
|
(1.0
|
)%
|
||||||||||
Operating expenses
|
22,339
|
21,778
|
561
|
2.6
|
%
|
|||||||||||
Income from operations
|
$
|
93
|
$
|
1,689
|
$
|
(1,596
|
)
|
(94.5
|
)%
|
Six Months Ended June 30,
|
||||||||
(in thousands)
|
2022
|
2021
|
||||||
Operating expenses
|
$
|
22,339
|
$
|
21,778
|
||||
Non-routine items related to restatement
|
(246
|
)
|
(1,033
|
)
|
||||
Adjusted operating expenses
|
$
|
22,093
|
$
|
20,745
|
||||
Operating expenses % of sales
|
57.4
|
%
|
54.5
|
%
|
||||
Adjusted operating expenses % of sales
|
56.8
|
%
|
51.9
|
%
|
Six Months Ended June 30,
|
||||||||
(amounts in thousands)
|
2022
|
2021
|
||||||
Net cash used in operating activities
|
$
|
(1,823
|
)
|
$
|
(2,761
|
)
|
||
Net cash used in investing activities
|
(454
|
)
|
(212
|
)
|
||||
Net cash used in financing activities
|
(2,204
|
)
|
(1,697
|
)
|
||||
Effect of exchange rate changes on cash and cash equivalents
|
(86
|
)
|
45
|
|||||
Net decrease in cash and cash equivalents
|
$
|
(4,567
|
)
|
$
|
(4,625
|
)
|
i. |
Replaced critical roles within our accounting team with contract accounting resources and continue to search for full-time employees with expertise in GAAP accounting, SEC reporting and
disclosure, internal audit and internal controls;
|
ii. |
Replaced our legacy accounting systems with an integrated enterprise resource planning (“ERP”) solution which includes general ledger, warehouse management and factory production modules
designed to calculate inventory on a FIFO basis;
|
iii. |
Implemented a new point-of-sale system for 93 U.S. stores that is fully integrated with our new ERP system (the remaining 12 stores will be converted during the remainder of 2022);
|
iv. |
Created a risk controls matrix which includes, among other things, a comprehensive list of key and mitigating controls, a description of the risk the control is designed to mitigate, the
frequency in which the control is performed, and a mapping of each control to the five COSO Framework components (control environment, risk assessment, control activities, information and communication, or monitoring activities);
|
v. |
Established a greater sense of accountability by requiring sub-certifications below the CEO and CFO level for certain key accounting, finance and operations personnel.
|
i. |
Ongoing recruitment and hiring of permanent, qualified public-company accounting personnel;
|
ii. |
Completing the accountability portion of our risk controls matrix once the permanent accounting team is in place in order to identify the individual responsible for each control;
|
iii. |
Converting the remaining 12 stores onto our new point-of-sale system;
|
iv. |
Redesigning our accounting procedures and activities to align with our new ERP system that will include built-in controls to improve upon the reliability of financial reporting and the
preparation of financial statements in accordance with GAAP;
|
v. |
Continuing to improve the accounting close process, including periodic review and update of our accounting close checklists for completeness of duties, accuracy of owners and deadlines to
maintain accountability, timely review of account reconciliations and calculations involving judgement, and timely reporting of financial results;
|
vi. |
Updating process narrative documentation in the following areas: (i) financial reporting, (ii) inventory, (iii) purchasing and accounts payable, (iv) revenue, (v) fixed assets and lease
accounting, (vi) general accounting, treasury and financial planning & analysis, (vii) tax, (viii) information technology (IT) governance, and (ix) HR and payroll;
|
vii. |
Periodically reviewing of our risk controls matrix and process narrative documentation to ensure changes such as personnel, information sources, processes, systems, and frequency in
performing the control are properly reflected in a timely manner;
|
viii. |
Reporting the progress and results of our remediation plan to the Audit Committee on a recurring basis, including the identification, status, and resolution of internal control
deficiencies; and
|
ix. |
Creating a comprehensive approach to regularly evaluate the operating effectiveness of our disclosure controls and procedures and our internal control over financial reporting using the
COSO Framework as a guide.
|
■ |
Recurring meetings with leadership, finance and accounting and other key functional areas to train staff on processes for oversight and emphasize each individual’s accountability for
internal control compliance, and to create a pattern of regular discussion of such controls.
|
■ |
Periodic communications from the CEO, CFO and other key senior leaders on the Company’s mission, core values, Code of Business Conduct and Ethics, whistleblower policies, and each
employee’s individual responsibility for internal control compliance.
|
■ |
Reorganization of the finance and accounting team to address segregation of duties issues, oversight and review of work, and recruiting and hiring qualified, competent employees with
relevant experience for the roles.
|
■ |
Regular performance evaluations to include position-specific criteria for functional competence, including performance of internal control responsibilities.
|
■ |
Completing the implementation of our new point-of-sale system, which is fully integrated with our ERP system, for our remaining 12 stores during the remainder of 2022.
|
■ |
Continuing to implement functionality in our ERP system to improve on our internal controls over financial reporting, such as implementing the ERP’s bank reconciliation module.
|
■ |
Creating and implementing newly-designed processes, structures, delegation of authority and controls, in accordance with the COSO Framework, including:
|
o |
Quarterly updates for the CFO regarding upcoming accounting pronouncement and proposed changes to GAAP accounting standards, tax regulations, and other requirements that may impact the
Company’s financial reporting;
|
o |
Timely reviews each quarter of the most significant accounting estimates and judgements;
|
o |
Validation of results through detailed variance analyses and reconciliation of account balances performed on a timely basis;
|
o |
Monthly business review of actual financial performance compared to forecasts with participation from leadership across the organization; and
|
o |
Establishing a disclosure committee comprised of key management throughout the different areas of the organization to evaluate the appropriateness of disclosures in the Company’s periodic
filings on Forms 10-K and 10-Q and to support the CEO and CFO with the certification process.
|
ISSUER PURCHASES OF EQUITY SECURITIES
|
||||||||||||||||
Period
|
(a) Total
number of
shares
purchased
(2)
|
(b)
Average
price paid
per share
|
(c) Total number of
shares purchased as
part of publicly
announced plans or
programs
|
(d) Maximum value
of shares that may
yet be purchased
under the plans or
programs (1)
|
||||||||||||
April 1 – April 30, 2022
|
359,500
|
$
|
5.00
|
—
|
$
|
5,000,000
|
||||||||||
May 1 – May 31, 2022
|
—
|
—
|
—
|
$
|
5,000,000
|
|||||||||||
June 1 – June 30, 2022
|
—
|
—
|
—
|
$
|
5,000,000
|
|||||||||||
Total
|
359,500
|
$
|
5.00
|
—
|
(1) |
Represents shares which may be purchased through our stock repurchase program, adopted by the Company’s Board of Directors on August 9, 2020, which established a new stock repurchase program allowing the Company to repurchase up to $5
million value of shares of our common stock on or prior to July 31, 2022.
|
(2) |
On April 11, 2022, we entered into an agreement with two institutional shareholders of the Company to repurchase 359,500 shares of our common stock, par value $0.0024 in a private transaction. The purchase price was $5.00 per share for
a total of $1.8 million. The closing of the repurchases took place on April 22, 2022, and these shares were subsequently cancelled. Prior to the repurchase, the shares represented approximately 4.2% of our outstanding common stock. These
shares were repurchased in private transactions outside of the $5 million repurchase program described above and do not reduce the shares remaining under that program.
|
Exhibit
Number
|
Description
|
Certificate of Incorporation of The Leather Factory, Inc., and Certificate of Amendment to Certificate of Incorporation of The Leather Factory, Inc. filed as Exhibit 3.1 to Tandy
Leather Factory, Inc.’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 12, 2005 and incorporated by reference herein.
|
|
Bylaws of Tandy Leather Factory, Inc., filed as Exhibit 3.1 to Tandy Leather Factory, Inc.’s Current Report on Form 8-K filed with the Securities and Exchange Commission on December 8,
2021 and incorporated by reference herein.
|
|
Certificate of Designations of Series A Junior Participating Preferred Stock of Tandy Leather Factory, Inc. filed as Exhibit 3.1 to Tandy Leather Factory’s Inc.’s Current Report on Form 8-K filed with the
Securities and Exchange Commission on June 10, 2013 and incorporated by reference herein.
|
|
Description of Securities filed as Exhibit 4.1 to Tandy Leather Factory, Inc.’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on June 22, 2021 and incorporated by reference
herein.
|
|
Tandy Leather Factory, Inc. 2013 Restricted Stock Plan, filed as Exhibit 10.1 to Tandy Leather Factory’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 14, 2013
and incorporated by reference herein.
|
|
Amendment #1 to Tandy Leather Factory, Inc. 2013 Restricted Stock Plan filed as Exhibit 10.5 to Tandy Leather Factory, Inc.’s Quarterly Report on Form 10-Q filed with the Securities and Exchange on June 22,
2021 and incorporated by reference herein.
|
|
Form of Non-Employee Director Restricted Stock Agreement under Tandy Leather Factory, Inc.’s 2013 Restricted Stock Plan, filed as Exhibit 10.1 to Tandy Leather Factory, Inc.’s Current Report on Form 8-K
filed with the Securities and Exchange Commission on February 14, 2014 and incorporated by reference herein.
|
|
Form of Employee Restricted Stock Award Agreement under Tandy Leather Factory, Inc.’s 2013 Restricted Stock Plan, filed as Exhibit 10.7 to Tandy Leather Factory, Inc.’s Quarterly Report on Form 10-Q filed
with the Securities and Exchange Commission on June 22, 2021 and incorporated by reference herein.
|
|
Form of Employment Agreement dated October 2, 2018 between the Company and Janet Carr, filed as Exhibit 10.1 to Tandy Leather Factory Inc.’s Current Report on Form 8-K filed with the Securities and Exchange
Commission on October 5, 2018 and incorporated by reference herein.
|
|
Form of Stand-Alone Restricted Stock Unit Agreement dated October 2, 2018 between the Company and Janet Carr, filed as Exhibit 10.2 to Tandy Leather Factor’s Current Report on Form 8-K
filed with the Securities and Exchange Commission on October 5, 2018 and incorporated by reference herein.
|
|
Form of Stand-Alone Restricted Stock Unit Agreement dated October 2, 2018 between the Company and Janet Carr, filed as Exhibit 10.3 to Tandy Leather Factor’s Current Report on Form 8-K filed with the
Securities and Exchange Commission on October 5, 2018 and incorporated by reference herein.
|
|
Form of Stock Purchase Agreement dated January 28, 2021 between the Company and Central Square Management, filed as Exhibit 10.14 to Tandy Leather Factory, Inc.’s Quarterly Report on Form 10-Q filed with
the Securities and Exchange Commission on June 22, 2021 and incorporated by reference herein.
|
|
Form of Stock Purchase Agreement dated December 8, 2021 between the Company and Right Lane I, LP, filed as Exhibit 10.9 to Tandy Leather Factory, Inc.’s Quarterly Report on Form 10-Q filed with the
Securities and Exchange Commission on May 16, 2022 and incorporated by reference herein.
|
|
Code of Business Conduct and Ethics of Tandy Leather Factory, Inc., adopted by the Board of Directors in May, 2021, filed as Exhibit 14.1 to Tandy Leather Factory, Inc.’s Quarterly Report on Form 10-Q filed
with the Securities and Exchange Commission on June 22, 2021 and incorporated by reference herein.
|
|
Subsidiaries of Tandy Leather Factory, Inc., filed as Exhibit 21.1 to Tandy Leather Factory, Inc.’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on June 22, 2021 and
incorporated by reference herein.
|
|
*31.1
|
13a-14(a) or 15d-14(a) Certification by Janet Carr, Chief Executive Officer.
|
*31.2
|
13a-14(a) or 15d-14(a) Certification by Michael Galvan, Chief Financial Officer.
|
*32.1
|
Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|
*101.INS
|
XBRL Instance Document.
|
*101.SCH
|
XBRL Taxonomy Extension Schema Document.
|
*101.CAL
|
XBRL Taxonomy Extension Calculation Document.
|
*101.DEF
|
XBRL Taxonomy Extension Definition Document.
|
*101.LAB
|
XBRL Taxonomy Extension Labels Document.
|
*101.PRE
|
XBRL Taxonomy Extension Presentation Document.
|
TANDY LEATHER FACTORY, INC.
|
|
(Registrant)
|
|
Date: August 15, 2022
|
By: /s/ Janet Carr
|
Janet Carr
|
|
Chief Executive Officer
|
|
Date: August 15, 2022
|
By: /s/ Michael Galvan
|
Michael Galvan
|
|
Chief Financial Officer
|
1 Year Tandy Leather Factory (PK) Chart |
1 Month Tandy Leather Factory (PK) Chart |
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