UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 _________________________________ (Mark One) FORM 10-Q _________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ___________ Commission file number 000-01227 ________________________________ ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |-----------------------------------------------------------------------------------------------|-----------------------------------------------------| | | | | ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 000-01227 CHICAGO RIVET & MACHINE CO. (Exact name of registrant as specified in its charter) ILLINOIS 36-0904920 (State or other jurisdiction of incorporation or organization) (I.R.S. ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |------------------------------------------------------------------------------------------------------|--------------------------------------------------- ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |-----------------------------------------------------------------------------------------------|-----------------------------------------------------| | For th ...

Table of Contents Emerging growth company ☐ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ___________ Commission file number 000-01227 Chicago Rivet & Machine Co. (Exact Name of Registrant a ...

Part I [Business](index=3&type=section&id=Item%201.%20Business) Chicago Rivet & Machine Co. operates in fastener and assembly equipment segments, serving the North American automotive industry - The company operates in **two segments**: the **fastener segment** (rivets, cold-formed parts) and the **assembly equipment segment** (automatic rivet setting machines and related parts)[7](index=7&type=chunk) - The **primary market** is the **North American automotive industry** Sales are made through employees and independent representatives[8](index=8&type=chunk) - The company has **significant customer concentration** In **2019**, sales to **three customers** were at least **10%** of consolidated revenues: TI Group Automotive Systems, LLC (**16%**), Parker-Hannifin Corporation (**10%**), and Cooper-Standard Holdings Inc. (**10%**)[10](index=10&type=chunk) - As of **December 31, 2019**, the company employed **217 people**[13](index=13&type=chunk) - The company has **no foreign operations**, but sales to foreign customers represent approximately **14% of total sales**[14](index=14&type=chunk) [Risk Factors](index=3&type=section&id=Item%201A.%20Risk%20Factors) The company faces key risks from automotive industry dependence, customer concentration, raw material costs, supply chain disruptions, and cybersecurity - The company's business is directly dependent on the **global automotive industry**, which is highly **cyclical and competitive**[16](index=16&type=chunk) - Sales to **three major customers** (TI Group Automotive Systems, Parker-Hannifin, and Cooper-Standard) accounted for approximately **36% of consolidated revenues in 2019**[18](index=18&type=chunk) - The business is subject to risks from **raw material price fluctuations**, particularly for **steel**, and potential **supply chain disruptions** from events like natural disasters, pandemics (**coronavirus**), or tariffs[20](index=20&type=chunk)[22](index=22&type=chunk) - **Cybersecurity threats** and **information system failures** pose a risk of operational disruption, data loss, and financial losses[27](index=27&type=chunk) - The company's **common stock is thinly traded**, with an **average daily volume of less than 2,000 shares in 2019**, which may lead to price volatility and difficulty for investors selling shares[28](index=28&type=chunk)[30](index=30&type=chunk) [Unresolved Staff Comments](index=6&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports no unresolved staff comments - **None**[31](index=31&type=chunk) [Properties](index=6&type=section&id=Item%202.%20Properties) The company owns its headquarters and three manufacturing facilities in the US, utilized by both fastener and assembly equipment segments - The Company owns its headquarters in **Naperville, Illinois**, and **three other manufacturing/warehousing facilities** It also leases a small sales and engineering office in Pembroke, Massachusetts[32](index=32&type=chunk) - The **Madison Heights, MI facility** is used entirely by the **fastener segment**, while the **Albia, IA facility** is used exclusively by the **assembly equipment segment** The **Tyrone, PA** and **Naperville, IL facilities** are used by **both segments**[33](index=33&type=chunk) [Legal Proceedings](index=6&type=section&id=Item%203.%20Legal%20Proceedings) Management believes that liabilities from routine legal proceedings will not materially affect the company's financial position - Management is of the opinion that the aggregate amount of any liabilities from contingent legal proceedings will not have a **material adverse effect** on the Company's **financial position**[35](index=35&type=chunk) [Mine Safety Disclosures](index=6&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - **Not applicable**[36](index=36&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=8&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company's common stock trades on NYSE American with limited activity, and a long-standing share repurchase program has seen no recent activity - The Company's **common stock** is traded on the **NYSE American** (trading privileges only, not registered)[41](index=41&type=chunk) - A **stock repurchase authorization** allows for the purchase of up to **200,000 shares** To date, **162,996 shares** have been repurchased, but **none since 2002**[42](index=42&type=chunk) [Selected Financial Data](index=8&type=section&id=Item%206.%20Selected%20Financial%20Data) As a Smaller Reporting Company, the company has elected scaled disclosure and is not required to provide this information - The company has elected **scaled disclosure obligations** as a **Smaller Reporting Company** and is **not required to provide this information**[43](index=43&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=8&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) In 2019, net sales and income declined due to automotive weakness, with the assembly equipment segment growing, while the company maintained dividends and liquidity [Results of Operations](index=8&type=section&id=Results%20of%20Operations) Full-year 2019 net sales decreased by 11.6% to $32.9 million, and net income fell sharply, primarily due to a 14.0% drop in Fastener segment revenues | Metric | 2019 | 2018 | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | **Net Sales** | $32,873,002 | $37,174,249 | -$4,301,247 | -11.6% | | **Net Income** | $538,314 | $2,001,185 | -$1,462,871 | -73.1% | | **EPS** | $0.56 | $2.07 | -$1.51 | -72.9% | | Segment | Metric | 2019 | 2018 | Change | % Change | | :--- | :--- | :--- | :--- | :--- | :--- | | **Fastener** | Revenues | $28,989,667 | $33,712,458 | -$4,722,791 | -14.0% | | | Gross Margin | $4,652,353 | $6,829,211 | -$2,176,858 | -31.9% | | **Assembly Equipment** | Revenues | $3,883,335 | $3,461,791 | +$421,544 | +12.2% | | | Gross Margin | $1,092,177 | $1,076,548 | +$15,629 | +1.5% | - **Selling and administrative expenses** decreased by **4.5%** to **$5,252,946 in 2019**, primarily due to lower commission and profit-sharing expenses linked to reduced sales and operating profit[49](index=49&type=chunk) [Dividends](index=9&type=section&id=Dividends) In 2019, the company distributed total dividends of $1.18 per share, maintaining its over 86-year record of consecutive quarterly dividends - **Total dividends paid in 2019** were **$1.18 per share**, which included **four regular quarterly dividends of $0.22 each** and an **extra dividend of $0.30**[52](index=52&type=chunk) - The company has an **uninterrupted record of paying consecutive quarterly dividends for over 86 years**, with a **$0.22 per share dividend declared for Q1 2020**[52](index=52&type=chunk) [Property, Plant and Equipment](index=9&type=section&id=Property%2C%20Plant%20and%20Equipment) Capital expenditures totaled $1.8 million in 2019, primarily for fastener segment equipment upgrades, with depreciation expense at $1.38 million | Year | Total Capital Expenditures | Fastener Segment | Assembly Equipment Segment | Shared | | :--- | :--- | :--- | :--- | :--- | | **2019** | $1,802,914 | $1,522,541 | $233,697 | $46,676 | | **2018** | $2,023,190 | $1,635,115 | $49,884 | $338,191 | - **Depreciation expense** was **$1,382,235 in 2019**, compared to **$1,308,448 in 2018**[56](index=56&type=chunk) [Liquidity and Capital Resources](index=10&type=section&id=Liquidity%20and%20Capital%20Resources) Working capital decreased to $16.4 million in 2019, while cash increased to $8.0 million, with management confident in sufficient liquidity - **Working capital decreased by $1 million** to **$16.4 million** at **December 31, 2019**, primarily due to reductions in accounts receivable and inventory[57](index=57&type=chunk) - **Cash, cash equivalents, and certificates of deposit** totaled **$8 million** at **year-end 2019**, an **increase of $0.2 million** for the year[57](index=57&type=chunk) - Management believes that current cash and operating cash flow will be **sufficient to provide adequate working capital for the next twelve months**[58](index=58&type=chunk) [Outlook for 2020](index=10&type=section&id=Outlook%20for%202020) The company anticipates a challenging 2020 due to persistent automotive weakness, high costs, slowing growth, and pandemic risks, focusing on efficiency improvements - The **outlook for the fastener segment is cautious**, as **weakness in the automotive market** is expected to persist in the near-term[63](index=63&type=chunk) - The **assembly equipment segment's order backlog** for the start of **2020** trails the prior year in both units and dollar value[65](index=65&type=chunk) - **Challenges in 2020** include continued **high steel costs**, **rising labor costs**, **slowing economic growth**, and potential exacerbation by the **coronavirus pandemic**[66](index=66&type=chunk) - The company plans to continue making **significant investments in its operations in 2020** to improve efficiency and quality, following a **$1.8 million investment in 2019**[67](index=67&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=11&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a Smaller Reporting Company, the company has elected scaled disclosure and is not required to provide this information - The company has elected **scaled disclosure obligations** as a **Smaller Reporting Company** and is **not required to provide this information**[69](index=69&type=chunk) [Financial Statements and Supplementary Data](index=11&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section refers to the Consolidated Financial Statements, incorporated by reference from the 2019 Annual Report and appearing on page 17 - The **consolidated financial statements** are incorporated by reference from the **2019 Annual Report** and can be found in the section starting on **page 17** of this report[70](index=70&type=chunk)[102](index=102&type=chunk) [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=11&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20with%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) The company reports no changes in or disagreements with its accountants on accounting and financial disclosure - **None**[70](index=70&type=chunk) [Controls and Procedures](index=11&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that disclosure controls and internal control over financial reporting were effective as of December 31, 2019, with no material changes - Management concluded that the Company's **disclosure controls and procedures were effective** as of the end of the period covered by the report[72](index=72&type=chunk) - Management concluded that the Company's **internal controls over financial reporting were effective** as of **December 31, 2019**, based on the **COSO framework**[74](index=74&type=chunk) - There were **no changes in internal control over financial reporting** during the **fourth quarter of 2019** that materially affected, or are reasonably likely to materially affect, these controls[76](index=76&type=chunk) [Other Information](index=12&type=section&id=Item%209B.%20Other%20Information) The company reports no other information for this item - **None**[77](index=77&type=chunk) Part III [Directors, Executive Officers and Corporate Governance](index=13&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) Information on directors and corporate governance is incorporated from the 2020 Proxy Statement, noting the CEO's upcoming retirement - Information regarding **directors and corporate governance** is incorporated by reference from the Company's **2020 Proxy Statement**[80](index=80&type=chunk) - Information about **executive officers** is included in **Part I** of this report **John A. Morrissey**, Chairman and CEO, announced his intention to **retire effective May 12, 2020**[38](index=38&type=chunk)[39](index=39&type=chunk)[80](index=80&type=chunk) [Executive Compensation](index=13&type=section&id=Item%2011.%20Executive%20Compensation) All information regarding executive compensation is incorporated by reference from the company's 2020 Proxy Statement - The information for this item is incorporated by reference from the Company's **2020 Proxy Statement**[81](index=81&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=13&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Information on security ownership is incorporated from the 2020 Proxy Statement, with no equity compensation plans - The information for this item is incorporated by reference from the Company's **2020 Proxy Statement**[83](index=83&type=chunk) - The Company does not have any **equity compensation plans or arrangements**[84](index=84&type=chunk) [Certain Relationships and Related Transactions, and Director Independence](index=13&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) All information regarding related party transactions and director independence is incorporated by reference from the company's 2020 Proxy Statement - The information for this item is incorporated by reference from the Company's **2020 Proxy Statement**[85](index=85&type=chunk) [Principal Accountant Fees and Services](index=13&type=section&id=Item%2014.%20Principal%20Accountant%20Fees%20and%20Services) Information regarding principal accountant fees and services is incorporated by reference from the company's 2020 Proxy Statement - The information for this item is incorporated by reference from the Company's **2020 Proxy Statement**[86](index=86&type=chunk) Part IV [Exhibits and Financial Statement Schedules](index=14&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statement%20Schedules) This section lists filed documents, including incorporated financial statements from page 17, omitted schedules, and a list of exhibits - This section lists the **financial statements**, **financial statement schedules** (omitted as not applicable), and **exhibits** filed as part of the report[88](index=88&type=chunk) - The **Consolidated Financial Statements** are incorporated by reference and appear on **page 17** of the report[88](index=88&type=chunk)[102](index=102&type=chunk) [Form 10-K Summary](index=14&type=section&id=Item%2016.%20Form%2010-K%20Summary) The company reports no Form 10-K summary - **None**[89](index=89&type=chunk)

Table of Contents Emerging growth company ☐ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-01227 Chicago Rivet & Machine Co. (Exact Name of Registrant as Specified in Its Ch ...

Financial Performance - Net sales for the three months ended June 30, 2019, were $8,875,451, a decrease of 9.35% compared to $9,792,784 for the same period in 2018[14] - Gross profit for the six months ended June 30, 2019, was $3,209,733, down 30.66% from $4,631,439 in 2018[14] - Net income for the six months ended June 30, 2019, was $516,401, a decline of 63.48% compared to $1,410,880 in 2018[19] - For the six months ended June 30, 2019, total net sales were $17,497,129, a decrease of 11.6% from $19,804,425 in the same period of 2018[32] - Total consolidated net sales for the first six months of 2019 were $17,497,129, compared to $19,804,425 in the same period of 2018, reflecting a decline of approximately 11.6%[41] - Income before income taxes for the first six months of 2019 was $658,401, a decrease from $1,825,880 in the same period of 2018, representing a decline of approximately 64.1%[41] Assets and Liabilities - Total current assets decreased to $18,889,046 as of June 30, 2019, from $19,988,479 at the end of 2018, representing a decline of 5.49%[9] - Total liabilities decreased to $3,196,342 as of June 30, 2019, from $3,486,876 at the end of 2018, a reduction of 8.32%[11] - As of June 30, 2019, total inventories were $6,098,823, slightly down from $6,100,391 as of December 31, 2018[36] - Accounts receivable, net for the fastener segment decreased to $5,426,139 as of June 30, 2019, down from $6,508,150 as of June 30, 2018, a reduction of about 16.6%[38] - Inventories, net for the assembly equipment segment increased to $1,102,215 as of June 30, 2019, compared to $1,050,451 as of June 30, 2018, an increase of approximately 4.9%[38] - Total segment assets as of June 30, 2019, amounted to $32,757,554, compared to $30,000,000 in the previous year, indicating an increase of approximately 9.2%[38] Cash Flow and Dividends - Cash and cash equivalents increased to $908,075 as of June 30, 2019, from $706,873 at the end of 2018, an increase of 28.43%[9] - The company reported a net cash provided by operating activities of $709,876 for the six months ended June 30, 2019, compared to $701,491 in 2018, reflecting a slight increase of 1.10%[19] - The company declared cash dividends of $0.22 per share for the three months ended June 30, 2019, compared to $0.21 per share in 2018[14] Segment Performance - Automotive segment sales for the three months ended June 30, 2019, were $4,943,688, down 15.4% from $5,884,416 in the prior year[32] - Non-automotive segment sales for the three months ended June 30, 2019, were $3,931,763, a decrease of 0.9% compared to $3,908,368 in the same period of 2018[32] - Net sales for the fastener segment decreased to $7,816,704 in Q2 2019 from $9,034,275 in Q2 2018, a decline of approximately 13.5%[38] - Segment operating profit for the fastener segment fell to $487,305 in Q2 2019, down from $1,229,717 in Q2 2018, representing a decrease of about 60.3%[38] Capital Expenditures - Capital expenditures for the six months ended June 30, 2019, were $1,283,736, significantly higher than $635,718 in 2018[19] - Capital expenditures increased to $1,293,029 in the first six months of 2019, up from $635,718 in the same period of 2018, marking an increase of about 103.5%[41] Expenses - Selling and administrative expenses for the first six months of 2019 were $1,141,454, compared to $1,268,579 in the same period of 2018, a decrease of about 10%[41] - Depreciation expense for the fastener segment increased to $602,805 in the first six months of 2019, up from $584,259 in the same period of 2018, reflecting an increase of approximately 3.3%[41] Tax and Accounting - The effective tax rate for the second quarter of 2019 was approximately 21.0%, compared to 23.1% for the same quarter in 2018[32] - The Company adopted Accounting Standards Update No. 2016-02 on January 1, 2019, which did not have a material impact on the financial statements[24] Risk and Litigation - The Company has concentrations of credit risk primarily within the automotive industry and in the Midwestern United States[25] - Management believes that any contingent liabilities related to ongoing litigation will not have a material adverse effect on the Company's financial position[26] Revenue Recognition - The Company recognized $219,700 in revenue related to a specific contract during the second quarter of 2019, with a remaining performance obligation of $118,300 expected to be recognized in the third quarter[27]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | --- | |----------------------------------------------------------------------------------------------|----------------------- ...