Item 1.01 Entry into a Material Definitive Agreement
On November 18, 2021, Technical Communications Corporation (the "Company")
issued an amended and restated demand promissory note in the principal amount of
up to $2,000,000 in favor of Carl H. Guild, Jr. Mr. Guild, the Company's Chief
Executive Officer, President and Chairman of the Board, loaned the money to the
Company to provide working capital. The $2,000,000 consists of $1,000,000
previously loaned to the Company at an interest rate of 6% and an additional
$1,000,000 at an interest rate of 7.5%. The additional funds will be available
to the Company to borrow from Mr. Guild on a revolving basis and the loan has no
specified term year and may be prepaid at any time without premium or penalty.
Item 9.01 Financial Statements and Exhibits.
a. Financial statements of businesses acquired. Not applicable.
b. Pro forma financial information. Not applicable.
c. Shell company transactions. Not applicable
d. Exhibits: Not applicable
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