(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 For the transition period from _______________ to _______________. Commission file number: 0-21121 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q TRANSACT TECHNOLOGIES INC (Exact name of registrant as specified in its charter) Delawar ...

TransAct Technologies Incorporated (NASDAQ:TACT) Q1 2021 Earnings Conference Call May 6, 2021 4:30 PM ET Company Participants Ryan Gardella - Investor Relations, ICR Bart Shuldman - Chairman & Chief Executive Officer Steve DeMartino - President & Chief Financial Officer Conference Call Participants Chris Howe - Barrington Research Mitchell Sacks - Grand Slam Asset Management Jeff Martin - ROTH Capital Partners Operator Good day, and welcome to the TransAct Technologies First Quarter 2021 Earnings Call. Toda ...

PART I [Business](index=3&type=section&id=Item%201.%20Business) TransAct develops software-driven technology and printing solutions for food service, casino, and POS markets, strategically focusing on its BOHA! ecosystem amidst 2020 COVID-19 impacts - TransAct is a **global leader** in software-driven technology and printing solutions for high-growth markets, including food service technology, POS automation, casino and gaming, and oil and gas[16](index=16&type=chunk) - The **COVID-19 pandemic significantly impacted** the business in 2020, causing **decreased product demand**, particularly in the food service, casino, and gaming markets, leading to various cost-cutting and liquidity-enhancing measures[17](index=17&type=chunk)[18](index=18&type=chunk)[26](index=26&type=chunk) - The company is **strategically focused on its BOHA!™ ecosystem**, a suite of cloud-based SaaS applications and hardware designed to automate back-of-house operations for restaurants and food service operators[16](index=16&type=chunk)[33](index=33&type=chunk) - Manufacturing of almost all printers and terminals is **outsourced to two third-party manufacturers in China and Thailand**[41](index=41&type=chunk) - Sales to its most significant customer, IGT, represented **15% of total net sales** for the year ended December 31, 2020[49](index=49&type=chunk)[50](index=50&type=chunk) - The company's backlog of firm orders was approximately **$3.4 million** as of February 28, 2021, a **decrease from $5.7 million** as of February 29, 2020[51](index=51&type=chunk) [Risk Factors](index=11&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks including potential unprofitability from BOHA! investments, ongoing COVID-19 impacts, reliance on a single software developer and two Asian manufacturers, and a material weakness in internal financial controls - The company incurred a **net loss of $5.6 million in 2020** and anticipates increasing expenses to grow its food service technology business, which may **prevent it from achieving or maintaining profitability**[74](index=74&type=chunk) - The COVID-19 pandemic has had, and is likely to continue to have, an **adverse impact** on business operations, financial condition, and customer demand, particularly in the casino and food service industries[78](index=78&type=chunk) - The company **relies on a third-party developer** to develop, maintain, and host critical software for its BOHA! food service technology solution, creating **significant dependency risk**[85](index=85&type=chunk) - A **material weakness in internal control** over financial reporting related to **key spreadsheets** existed as of December 31, 2020, which could result in a material misstatement of financial statements if not remediated[90](index=90&type=chunk) - The company is **dependent on two contract manufacturers in China and Thailand** for substantially all of its printer and terminal manufacturing, exposing it to supply chain, geopolitical, and public health risks[97](index=97&type=chunk) - **Sales to IGT represent a material percentage of net sales**, and a reduction in orders from this customer could materially affect results[92](index=92&type=chunk) [Unresolved Staff Comments](index=23&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) This section is not applicable as the company has no unresolved staff comments - Not applicable[134](index=134&type=chunk) [Properties](index=23&type=section&id=Item%202.%20Properties) The company leases all principal facilities, with key operations spanning executive offices, hardware design, software development, and sales across multiple global locations Principal Facilities | Location | Operations Conducted | Size (Approx. Sq. Ft.) | Lease Expiration Date | | :--- | :--- | :--- | :--- | | Hamden, Connecticut | Executive offices and sales office | 11,100 | April 30, 2027 | | Ithaca, New York | Hardware design, development, assembly, service | 73,900 | May 31, 2025 | | Las Vegas, Nevada | Software design, development, casino/gaming sales | 19,600 | October 31, 2022 | | Doncaster, UK | Sales office and service center | 6,000 | August 26, 2026 | | Macau, China | Sales office | 180 | June 30, 2021 | [Legal Proceedings](index=23&type=section&id=Item%203.%20Legal%20Proceedings) As of December 31, 2020, the company is unaware of any material legal proceedings pending or threatened against it - The company is unaware of any material legal proceedings pending or threatened against it as of December 31, 2020[137](index=137&type=chunk) [Mine Safety Disclosures](index=23&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section is not applicable to the company - Not applicable[138](index=138&type=chunk) PART II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=24&type=section&id=Item%205.%20Market%20for%20Registrant's%20Common%20Equity,%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company's common stock trades on Nasdaq under TACT, with dividends ceased in January 2020 to fund BOHA! ecosystem investments, and no share repurchases in Q4 2020 - The company's common stock is traded on the **Nasdaq Global Market** under the symbol **TACT**[140](index=140&type=chunk) - The quarterly cash dividend was **ceased in January 2020** to accelerate investment in the BOHA! ecosystem, with the final dividend paid in December 2019[142](index=142&type=chunk) - **No shares** of common stock were **repurchased** during the fourth quarter of 2020[141](index=141&type=chunk) [Selected Financial Data](index=24&type=section&id=Item%206.%20Selected%20Financial%20Data) This section is not required as the company is a smaller reporting company - Not required[144](index=144&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=24&type=section&id=Item%207.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) In 2020, TransAct's net sales decreased by **33%** to **$30.6 million** due to COVID-19, resulting in a **$5.6 million net loss**, while food service technology sales grew **27%** and cash increased to **$10.4 million** from financing activities Financial Highlights | Metric | 2020 | 2019 | % Change | | :--- | :--- | :--- | :--- | | Net Sales | $30.6M | $45.7M | -33.1% | | Gross Profit | $12.9M | $21.9M | -41.1% | | Gross Margin | 42.3% | 47.9% | -560 bps | | Operating (Loss) Income | ($8.2M) | $0.3M | -2482.8% | | Net (Loss) Income | ($5.6M) | $0.5M | N/A | | Diluted EPS | ($0.72) | $0.07 | N/A | Sales by Market | Market | 2020 Sales ($M) | 2019 Sales ($M) | % Change | | :--- | :--- | :--- | :--- | | Food service technology | $7.7 | $6.1 | +26.7% | | POS automation and banking | $3.8 | $5.8 | -34.5% | | Casino and gaming | $11.0 | $21.5 | -49.0% | | Lottery | $0.8 | $1.3 | -36.7% | | Printrex | $0.3 | $1.2 | -74.3% | | TSG | $7.0 | $9.9 | -29.3% | - Food service technology sales increased **27%**, driven by a **96% increase in recurring revenue** (software, labels, services) from the BOHA! solution[148](index=148&type=chunk)[178](index=178&type=chunk) - Cash and cash equivalents increased to **$10.4 million** at year-end 2020 from **$4.2 million** at year-end 2019, primarily due to an **$8.7 million public offering** and a **$2.2 million PPP loan**[156](index=156&type=chunk)[199](index=199&type=chunk)[203](index=203&type=chunk) - The company entered into a new **$10 million revolving credit facility** with Siena Lending Group in March 2020 and received a **$2.2 million PPP loan** in May 2020[208](index=208&type=chunk)[210](index=210&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=35&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section is not required as the company is a smaller reporting company - As a smaller reporting company, TransAct is not required to provide information under this item[217](index=217&type=chunk) [Financial Statements and Supplementary Data](index=35&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section refers to the company's financial statements, the Independent Registered Public Accounting Firm's Report, and related index, annexed to the Annual Report - The company's financial statements are annexed to the Annual Report, starting on page F-1[218](index=218&type=chunk) [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=35&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20with%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) This section is not applicable - Not applicable[219](index=219&type=chunk) [Controls and Procedures](index=35&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded disclosure controls were ineffective as of December 31, 2020, due to a material weakness in spreadsheet controls, while a prior ERP access control weakness was remediated - Management concluded that disclosure controls and procedures were **not effective** as of December 31, 2020[219](index=219&type=chunk) - A **material weakness** in internal control over financial reporting related to the completeness and accuracy of information in **key spreadsheets** (the "Spreadsheet Control Weakness") was identified and has **not been fully remediated** as of December 31, 2020[222](index=222&type=chunk)[225](index=225&type=chunk) - A previously identified material weakness related to user access controls within the Oracle ERP system (the "Access Control Weakness") was **fully remediated** as of September 30, 2020[224](index=224&type=chunk)[226](index=226&type=chunk) [Other Information](index=36&type=section&id=Item%209B.%20Other%20Information) This section is not applicable - Not applicable[228](index=228&type=chunk) PART III [Directors, Executive Officers and Corporate Governance](index=37&type=section&id=Item%2010.%20Directors,%20Executive%20Officers%20and%20Corporate%20Governance) Information for this item, including executive officers and corporate governance, is incorporated by reference from the company's 2021 Annual Meeting Proxy Statement - Information required by this item will be contained in the company's Proxy Statement for its 2021 Annual Meeting of Stockholders and is incorporated by reference[231](index=231&type=chunk) [Executive Compensation](index=37&type=section&id=Item%2011.%20Executive%20Compensation) Executive compensation information is incorporated by reference from the company's 2021 Annual Meeting Proxy Statement - Information required by this item will be contained in the Proxy Statement under the heading "Executive Compensation" and is incorporated by reference[233](index=233&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=37&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) This section details equity compensation plans, showing **1,398,155** securities for outstanding options and **837,204** available for future issuance, with further details in the 2021 Proxy Statement Equity Compensation Plan Information | Plan Category | Securities to be issued upon exercise | Weighted average exercise price | Securities remaining available for future issuance | | :--- | :--- | :--- | :--- | | Equity compensation plans approved by security holders | 1,398,155 | $8.27 | 837,204 | [Certain Relationships and Related Transactions, and Director Independence](index=37&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions,%20and%20Director%20Independence) Information on certain relationships, related transactions, and director independence is incorporated by reference from the 2021 Proxy Statement - Information required by this item will be contained in the Proxy Statement under the heading "Certain Relationships and Related Transactions" and is incorporated by reference[236](index=236&type=chunk) [Principal Accountant Fees and Services](index=37&type=section&id=Item%2014.%20Principal%20Accountant%20Fees%20and%20Services) Principal accountant fees and services information is incorporated by reference from the company's 2021 Annual Meeting Proxy Statement - Information required by this item will be contained in the Proxy Statement and is incorporated by reference[237](index=237&type=chunk) PART IV [Exhibits, Financial Statement Schedules](index=38&type=section&id=Item%2015.%20Exhibits,%20Financial%20Statement%20Schedules) This section lists financial statements, schedules, and an index of all exhibits filed with the Form 10-K, with most schedules omitted as inapplicable - This item lists the financial statements, schedules, and exhibits filed with the Form 10-K[239](index=239&type=chunk)[240](index=240&type=chunk)[241](index=241&type=chunk) [Form 10-K Summary](index=39&type=section&id=Item%2016.%20Form%2010-K%20Summary) This section is not applicable - Not applicable[246](index=246&type=chunk) Consolidated Financial Statements [Report of Independent Registered Public Accounting Firm](index=42&type=section&id=Report%20of%20Independent%20Registered%20Public%20Accounting%20Firm) Marcum LLP issued an unqualified opinion on the 2020 financial statements, highlighting a critical audit matter regarding BOHA! revenue recognition, while PricewaterhouseCoopers LLP audited 2019 - Marcum LLP issued an **unqualified opinion** on the 2020 consolidated financial statements[255](index=255&type=chunk) - A **critical audit matter** was identified related to **revenue recognition for a new BOHA! bundled service offering**, which involved significant management judgment in identifying performance obligations and estimating standalone selling prices[262](index=262&type=chunk)[263](index=263&type=chunk) - **PricewaterhouseCoopers LLP** served as the company's auditor from 1996 to 2020 and **audited the 2019 financial statements**[271](index=271&type=chunk) [Financial Statements](index=45&type=section&id=Financial%20Statements) The consolidated financial statements for 2020 show **$42.2 million** in total assets, a **$5.6 million net loss** on **$30.6 million** net sales, and **$11.0 million** cash provided by financing activities Consolidated Balance Sheet Highlights (in thousands) | | Dec 31, 2020 | Dec 31, 2019 | | :--- | :--- | :--- | | Cash and cash equivalents | $10,359 | $4,203 | | Total current assets | $28,175 | $24,915 | | Total assets | $42,247 | $36,061 | | Total current liabilities | $6,697 | $7,646 | | Total liabilities | $12,011 | $10,135 | | Total shareholders' equity | $30,236 | $25,926 | Consolidated Statement of Operations Highlights (in thousands) | | Year Ended Dec 31, 2020 | Year Ended Dec 31, 2019 | | :--- | :--- | :--- | | Net sales | $30,595 | $45,748 | | Gross profit | $12,929 | $21,935 | | Operating (loss) income | $(8,173) | $343 | | Net (loss) income | $(5,630) | $516 | | Diluted (loss) income per share | $(0.72) | $0.07 | Consolidated Statement of Cash Flows Highlights (in thousands) | | Year Ended Dec 31, 2020 | Year Ended Dec 31, 2019 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | $(3,510) | $4,846 | | Net cash used in investing activities | $(1,344) | $(2,366) | | Net cash provided by (used in) financing activities | $11,031 | $(2,897) |

TransAct Technologies Incorporated (NASDAQ:TACT) Q4 2020 Results Earnings Conference Call March 9, 2021 4:30 PM ET Company Participants Marc Griffin - Investor Relations, ICR, Inc. Bart Shuldman - Chairman and CEO Steve DeMartino - President and CFO Conference Call Participants Jeff Martin - Roth Capital Partners Chris Howe - Barrington Research Mitchell Sacks - Grand Slam Asset Management Jeff Bernstein - Cowen Operator Good day, everyone. Welcome to the TransAct Technologies Fourth Quarter 2020 Earnings C ...

TransAct Technologies Incorporated (NASDAQ:TACT) Q3 2020 Earnings Conference Call November 5, 2020 4:30 PM ET Company Participants Marc Griffin – Investor Relations Bart Shuldman – Chairman and Chief Executive Officer Steve DeMartino – President and Chief Financial Officer Conference Call Participants Jeff Martin – Roth Capital Partners Chris Howe – Barrington Research Mitchell Sacks – Grand Slam Asset Management Operator Good day and welcome to the TransAct Technologies Third Quarter 2020 Conference Call. ...

Financial Data and Key Metrics Changes - Total net revenue for Q2 2020 declined 53% year-over-year to $5.3 million, exceeding revenue expectations of $4.5 million to $5 million [8] - Operating loss recorded at $2.7 million, with an adjusted EBITDA loss of $2.3 million, both exceeding internal projections [9] - Gross profit margin for the quarter was 43.3%, down from 50.3% in the prior year [35] - Net loss for Q2 2020 was $1.9 million or $0.25 per diluted share, compared to net income of $186,000 or $0.02 per diluted share in the year-ago period [42] Business Line Data and Key Metrics Changes - Food Service Technology (FST) market revenue increased 7% to $1.2 million, with recurring revenue growing 100% year-over-year to $659,000 [30][18] - Casino and gaming sales fell 76% to $1.4 million, with domestic revenues down 72% and international revenues down 82% [32] - POS automation and banking sales decreased 71% to $481,000, primarily due to lower sales to McDonald's [33] Market Data and Key Metrics Changes - The global casino and gaming markets faced significant challenges, with many casinos closed in the US during the first half of Q2, but approximately 85% were open by late June [11] - The Food Service industry showed varied recovery, with convenience stores rebounding faster than casual restaurants [16] Company Strategy and Development Direction - The company is focusing on enhancing its technology offerings, particularly in the Food Service Technology market, to drive future growth [21] - New product launches, such as Epicentral Clean2Play, aim to address sanitation challenges in casinos [15] - The company plans to leverage its BOHA! solution to capture growth in the convenience store and grocery sectors [20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery in the restaurant industry and the uptick in order activity, particularly in the Food Service Technology market [48] - The company anticipates gradual improvement in sales as the impact of COVID-19 diminishes, projecting Q3 sales between $5.5 million to $6 million [45] - Management highlighted the importance of technology in helping restaurants and casinos adapt to new operational challenges [78] Other Important Information - The company implemented significant cost-cutting measures, resulting in a total savings of approximately $1.7 million in Q2 [25] - The company ended Q2 with $3.1 million in cash and $2.2 million in debt under the PPP loan [43][74] Q&A Session Summary Question: Thoughts on the convenience store market and Speedway acquisition - Management noted a return of orders from a large convenience store customer and highlighted the potential for significant recurring revenue from new label orders [53] Question: Business environment and customer orders - Management reported an uptick in orders in June, particularly in the Food Service Technology market, indicating a positive trend in deal flow and customer interest [61] Question: Balance sheet and debt situation - Management confirmed that the long-term debt primarily consists of the PPP loan, with only $6,000 outstanding under the credit facility [68][70] Question: Technology's role in restaurant and casino recovery - Management emphasized the growing demand for technology solutions in restaurants and casinos as they adapt to new operational requirements [78][82]

Financial Data and Key Metrics Changes - Total net revenue for Q1 2020 declined 11% year-over-year to $10.2 million, with an operating loss of $1.3 million and negative adjusted EBITDA of $1 million [28][59] - Gross profit margin for the quarter was 48%, down from 52.7% in the prior year [53] - Diluted EPS for Q1 was a net loss of $0.13 per share, compared to net income of $0.10 per share in the year-ago period [59] Business Line Data and Key Metrics Changes - Foodservice technology revenue increased 13% year-over-year to $1.4 million, with recurring FST sales at $616,000, nearly double the $310,000 reported in the previous year [48][49] - Casino and gaming sales were $4.9 million, a decline of 10% year-over-year, with domestic revenues down 25% due to COVID-19 impacts [50] - POS Automation and banking sales rose 22% to $1.6 million, driven by strong sales of the Ithaca 9000 POS printer [51] Market Data and Key Metrics Changes - The global casino and gaming market is facing significant challenges, with U.S. casinos closed and a slow recovery expected [12][13] - International casino and gaming revenues increased 15%, offsetting lower demand from Asian OEMs [50] - The foodservice industry is undergoing substantial changes, with many restaurants shifting to takeout and implementing new safety procedures [20][21] Company Strategy and Development Direction - The company is focusing on the BOHA! platform to support foodservice technology and is delaying a product launch to September to align with market conditions [25][26] - A marketing program called "Be Ready" is being initiated to assist customers in adapting to new operational procedures [22][83] - The company is exploring third-party financing options to facilitate customer purchases during the crisis [77] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges posed by the COVID-19 pandemic but remains optimistic about the company's resilience and long-term survival [61][64] - The company expects a slow recovery, projecting Q2 sales between $4.5 million and $5 million, with a gradual return to pre-pandemic sales levels by Q4 2021 [42][44] - Management emphasizes the importance of liquidity measures taken to navigate the current volatility [40][45] Other Important Information - The company implemented austerity measures to reduce operating expenses by an estimated $1.75 million, achieving $700,000 in Q1 savings [33][37] - The company received approximately $2.2 million from the Paycheck Protection Program to support payroll costs [39] - The effective tax rate for Q1 was unusually high at 31.9%, with expectations of a cash refund from net operating losses anticipated in 2020 [56][58] Q&A Session Summary Question: Can you talk about the convenience store market? - Management noted that convenience stores are adapting their product offerings and safety procedures, with ongoing business and unit shipments continuing [69][72] Question: Are you considering providing third-party financing for equipment purchases? - Management confirmed they are exploring options to assist customers with capital constraints and have been proactive in maintaining customer engagement [77][80] Question: What is the expectation for gross margin sustainability? - Management expects gross margin to decline due to reduced sales levels but anticipates recovery as sales improve [88] Question: Can you recap the operating expense savings? - Management detailed that $700,000 in savings were achieved in Q1, with an additional $1.1 million expected in Q2 [91][95] Question: What enhancements are included in the delayed BOHA! product upgrade? - Management refrained from disclosing specific enhancements but indicated it would be a significant new product launch [96][97]

TransAct Technologies Incorporated (NASDAQ:TACT) Q4 2019 Results Earnings Conference Call March 10, 2020 5:00 PM ET Company Participants Marc Griffin - Investor Relations Bart Shuldman - Chairman and CEO Steve DeMartino - President and CFO Conference Call Participants Kara Anderson - B. Riley FBR Mitchell Sacks - Grand Slam Asset Management Jeff Bernstein - Cowen Prime Advisers Operator Greetings. Welcome to TransAct Technologies Fourth Quarter and Full Year 2019 Conference Call. At this time, all participa ...

BOHA! Restaurant Solutions - The restaurant solutions market represents the single greatest revenue opportunity in TransAct's history[7] - The total addressable market for BOHA! exceeds $1 billion in hardware, software, services, and label sales[7, 29] - TransAct has signed agreements related to BOHA! that generate approximately $3 million in annual recurring revenue, with a total sales opportunity of up to $120 million[34] Casino & Gaming - The Casino and Gaming printer business provides a strong financial foundation for TransAct's ongoing investments in its Restaurant Solutions business[51] - Epic Edge is the next-generation casino and gaming printer, offering a more than 2x improvement over current printers with 300 DPI print resolution[53] Financial Performance (3Q19) - Net sales were $117 million, compared to $158 million in 3Q18[60] - Gross profit was $55 million, with a gross margin of 475%, compared to $80 million and 505% in 3Q18[60] - Net income was $04 million, or $005 per diluted share, compared to $26 million, or $033 per diluted share in 3Q18[60] - Restaurant solutions net sales were $1951 thousand, compared to $1481 thousand in 3Q18[59] - Casino and gaming net sales were $5074 thousand, compared to $8267 thousand in 3Q18[59] - EBITDA was $05 million, and Adjusted EBITDA was $07 million[59] Market Opportunity - The total foodservice market includes 1,399,658 potential contact points[30] - This includes 762,715 restaurants and bars, 202,397 retailers, 148,856 travel & leisure locations, 237,850 noncommercial locations, and 47,840 all other foodservice locations[19, 21, 23, 25, 27]

TransAct Technologies Inc. (NASDAQ:TACT) Q3 2019 Earnings Conference Call November 6, 2019 4:30 PM ET Company Participants Jim Leahy - Investor Relations Bart Shuldman - Chairman and Chief Executive Officer Steve DeMartino - President and Chief Financial Officer Conference Call Participants Kara Anderson - B. Riley FBR Mitchell Sacks - Grand Slam Jeff Bernstein - Cowen Operator Good afternoon, ladies and gentlemen, and welcome to the TransAct Technologies Third Quarter 2019 Conference Call. At this time, al ...