Maryland
|
|
52-0880974
|
(State or other jurisdiction of incorporation or organization)
|
|
(I.R.S. Employer Identification No.)
|
19886 Ashburn Road, Ashburn, Virginia
|
|
20147-2358
|
(Address of principal executive offices)
|
|
(Zip Code)
|
Large accelerated filer ☐
|
Accelerated filer
|
☐
|
Non-accelerated filer ☒
|
Smaller reporting company
|
☐
|
Emerging growth company
|
☐
|
Page
|
||
Item 1.
|
||
3
|
||
4
|
||
5-6
|
||
7
|
||
8
|
||
9-29
|
||
Item 2.
|
30-42
|
|
Item 3.
|
42
|
|
Item 4.
|
42
|
|
PART II - OTHER INFORMATION
|
||
Item 1.
|
42
|
|
Item 1A.
|
42
|
|
Item 2.
|
42
|
|
Item 3.
|
43
|
|
Item 4.
|
43
|
|
Item 5.
|
43
|
|
Item 6.
|
44
|
|
45
|
Three Months Ended June 30,
|
Six Months Ended June 30,
|
|||||||||||||||
2020
|
2019
|
2020
|
2019
|
|||||||||||||
Revenue
|
||||||||||||||||
Services
|
$
|
45,486
|
$
|
34,377
|
$
|
80,044
|
$
|
62,414
|
||||||||
Products
|
3,124
|
1,671
|
7,545
|
4,800
|
||||||||||||
48,610
|
36,048
|
87,589
|
67,214
|
|||||||||||||
Costs and expenses
|
||||||||||||||||
Cost of sales - Services
|
29,378
|
25,203
|
54,243
|
45,394
|
||||||||||||
Cost of sales - Products
|
1,659
|
830
|
3,531
|
2,829
|
||||||||||||
31,037
|
26,033
|
57,774
|
48,223
|
|||||||||||||
Selling, general and administrative expenses
|
12,507
|
10,437
|
24,346
|
20,795
|
||||||||||||
Operating income (loss)
|
5,066
|
(422
|
)
|
5,469
|
(1,804
|
)
|
||||||||||
Other income (expense)
|
||||||||||||||||
Other income
|
4
|
188
|
12
|
193
|
||||||||||||
Interest expense
|
(1,996
|
)
|
(1,740
|
)
|
(4,013
|
)
|
(3,500
|
)
|
||||||||
Income (loss) before income taxes
|
3,074
|
(1,974
|
)
|
1,468
|
(5,111
|
)
|
||||||||||
(Provision for) benefit from income taxes (Note 7)
|
(2
|
)
|
(20
|
)
|
144
|
177
|
||||||||||
Net income (loss)
|
3,072
|
(1,994
|
)
|
1,612
|
(4,934
|
)
|
||||||||||
Less: Net (income) loss attributable to non-controlling interest (Note 2)
|
(2,806
|
)
|
253
|
(3,590
|
)
|
(220
|
)
|
|||||||||
Net income (loss) attributable to Telos Corporation
|
$
|
266
|
$
|
(1,741
|
)
|
$
|
(1,978
|
)
|
$
|
(5,154
|
)
|
Three Months Ended June 30,
|
Six Months Ended June 30,
|
|||||||||||||||
2020
|
2019
|
2020
|
2019
|
|||||||||||||
Net income (loss)
|
$
|
3,072
|
$
|
(1,994
|
)
|
$
|
1,612
|
$
|
(4,934
|
)
|
||||||
Other comprehensive income, net of tax:
|
||||||||||||||||
Foreign currency translation adjustments
|
2
|
--
|
1
|
2
|
||||||||||||
Less: Comprehensive (income) loss attributable to non-controlling interest
|
(2,806
|
)
|
253
|
(3,590
|
)
|
(220
|
)
|
|||||||||
Comprehensive income (loss) attributable to Telos Corporation
|
$
|
268
|
$
|
(1,741
|
)
|
$
|
(1,977
|
)
|
$
|
(5,152
|
)
|
June 30, 2020
|
December 31, 2019
|
|||||||
(Unaudited)
|
||||||||
ASSETS
|
||||||||
Current assets
|
||||||||
Cash and cash equivalents
|
$
|
2,405
|
$
|
6,751
|
||||
Accounts receivable, net of reserve of $738 and $720, respectively (Note 1)
|
38,371
|
27,942
|
||||||
Inventories, net of obsolescence reserve of $861 and $860, respectively (Note 1)
|
3,336
|
1,965
|
||||||
Deferred program expenses
|
250
|
673
|
||||||
Other current assets
|
2,586
|
2,914
|
||||||
Total current assets
|
46,948
|
40,245
|
||||||
Property and equipment, net of accumulated depreciation of $34,673 and $32,470, respectively
|
20,683
|
19,567
|
||||||
Operating lease right-of-use assets (Note 10)
|
1,777
|
1,979
|
||||||
Goodwill (Note 3)
|
14,916
|
14,916
|
||||||
Other assets
|
1,066
|
985
|
||||||
Total assets
|
$
|
85,390
|
$
|
77,692
|
June 30, 2020
|
December 31, 2019
|
|||||||
(Unaudited)
|
||||||||
LIABILITIES, REDEEMABLE PREFERRED STOCK, AND STOCKHOLDERS’ DEFICIT
|
||||||||
Current liabilities
|
||||||||
Senior term loan, net of unamortized discount and issuance costs – short-term (Note 5)
|
$
|
16,688
|
$
|
--
|
||||
Accounts payable and other accrued liabilities (Note 5)
|
19,638
|
15,050
|
||||||
Accrued compensation and benefits
|
12,275
|
12,187
|
||||||
Contract liabilities (Note 1 and 5)
|
6,682
|
6,337
|
||||||
Finance lease obligations – short-term (Note 10)
|
1,281
|
1,224
|
||||||
Other current liabilities (Note 10)
|
3,146
|
2,505
|
||||||
Total current liabilities
|
59,710
|
37,303
|
||||||
Senior term loan, net of unamortized discount and issuance costs (Note 5)
|
--
|
16,335
|
||||||
Subordinated debt (Note 5)
|
3,102
|
2,927
|
||||||
Finance lease obligations – long-term (Note 10)
|
14,990
|
15,641
|
||||||
Operating lease liabilities – long-term (Note 10)
|
1,274
|
1,553
|
||||||
Deferred income taxes (Note 7)
|
640
|
621
|
||||||
Public preferred stock (Note 6)
|
141,121
|
139,210
|
||||||
Other liabilities (Note 7)
|
562
|
724
|
||||||
Total liabilities
|
221,399
|
214,314
|
||||||
Commitments and contingencies (Note 8)
|
--
|
--
|
||||||
Stockholders’ deficit
|
||||||||
Telos stockholders’ deficit
|
||||||||
Common stock
|
78
|
78
|
||||||
Additional paid-in capital
|
4,310
|
4,310
|
||||||
Accumulated other comprehensive income
|
7
|
6
|
||||||
Accumulated deficit
|
(147,508
|
)
|
(145,530
|
)
|
||||
Total Telos stockholders’ deficit
|
(143,113
|
)
|
(141,136
|
)
|
||||
Non-controlling interest in subsidiary (Note 2)
|
7,104
|
4,514
|
||||||
Total stockholders’ deficit
|
(136,009
|
)
|
(136,622
|
)
|
||||
Total liabilities, redeemable preferred stock, and stockholders’ deficit
|
$
|
85,390
|
$
|
77,692
|
|
Six Months Ended June 30,
|
|||||||
2020
|
2019
|
|||||||
Operating activities:
|
||||||||
Net income (loss)
|
$
|
1,612
|
$
|
(4,934
|
)
|
|||
Adjustments to reconcile net income (loss) to cash provided by operating activities:
|
||||||||
Dividends from preferred stock recorded as interest expense
|
1,911
|
1,912
|
||||||
Depreciation and amortization
|
2,734
|
2,341
|
||||||
Amortization of debt issuance costs
|
453
|
111
|
||||||
Deferred income tax provision (benefit)
|
19
|
(215
|
)
|
|||||
Other noncash items
|
(17
|
)
|
--
|
|||||
Changes in other operating assets and liabilities
|
(5,873
|
)
|
6,711
|
|||||
Cash provided by operating activities
|
839
|
5,926
|
||||||
|
||||||||
Investing activities:
|
||||||||
Capitalized software development costs
|
(3,159
|
)
|
(1,287
|
)
|
||||
Purchases of property and equipment
|
(332
|
)
|
(2,410
|
)
|
||||
Cash used in investing activities
|
(3,491
|
)
|
(3,697
|
)
|
||||
|
||||||||
Financing activities:
|
||||||||
Payments under finance lease obligations
|
(594
|
)
|
(541
|
)
|
||||
Amendment fee paid to lender
|
(100
|
)
|
--
|
|||||
Distributions to Telos ID Class B member - non-controlling interest
|
(1,000
|
)
|
(984
|
)
|
||||
Cash used in financing activities
|
(1,694
|
)
|
(1,525
|
)
|
||||
(Decrease) increase in cash and cash equivalents
|
(4,346
|
)
|
704
|
|||||
Cash and cash equivalents, beginning of period
|
6,751
|
72
|
||||||
Cash and cash equivalents, end of period
|
$
|
2,405
|
$
|
776
|
||||
Supplemental disclosures of cash flow information:
|
||||||||
Cash paid during the period for:
|
||||||||
Interest
|
$
|
1,474
|
$
|
1,428
|
||||
Income taxes
|
$
|
50
|
$
|
39
|
||||
Noncash:
|
||||||||
Dividends from preferred stock recorded as interest expense
|
$
|
1,911
|
$
|
1,912
|
Telos Corporation
|
||||||||||||||||||||||||
Common
Stock
|
Additional Paid-in
Capital
|
Accumulated
Other Comprehensive Income
|
Accumulated
Deficit
|
Non-Controlling Interest
|
Total
Stockholders’
Deficit
|
|||||||||||||||||||
For the Three Months Ended June 30, 2020
|
||||||||||||||||||||||||
Beginning balance
|
$
|
78
|
$
|
4,310
|
$
|
5
|
$
|
(147,774
|
)
|
$
|
5,298
|
$
|
(138,083
|
)
|
||||||||||
Net income
|
--
|
--
|
--
|
266
|
2,806
|
3,072
|
||||||||||||||||||
Foreign currency translation gain
|
--
|
--
|
2
|
--
|
--
|
2
|
||||||||||||||||||
Distributions
|
--
|
--
|
--
|
--
|
(1,000
|
)
|
(1,000
|
)
|
||||||||||||||||
Ending balance
|
$
|
78
|
$
|
4,310
|
$
|
7
|
$
|
(147,508
|
)
|
$
|
7,104
|
$
|
(136,009
|
)
|
||||||||||
For the Three Months Ended June 30, 2019
|
||||||||||||||||||||||||
Beginning balance
|
$
|
78
|
$
|
4,310
|
$
|
19
|
$
|
(142,542
|
)
|
$
|
2,378
|
$
|
(135,757
|
)
|
||||||||||
Net loss
|
--
|
--
|
--
|
(1,741
|
)
|
(253
|
)
|
(1,994
|
)
|
|||||||||||||||
Distributions
|
--
|
--
|
--
|
--
|
(268
|
)
|
(268
|
)
|
||||||||||||||||
Ending balance
|
$
|
78
|
$
|
4,310
|
$
|
19
|
$
|
(144,283
|
)
|
$
|
1,857
|
$
|
(138,019
|
)
|
||||||||||
For the Six Months Ended June 30, 2020
|
||||||||||||||||||||||||
Beginning balance
|
$
|
78
|
$
|
4,310
|
$
|
6
|
$
|
(145,530
|
)
|
$
|
4,514
|
$
|
(136,622
|
)
|
||||||||||
Net (loss) income
|
--
|
--
|
--
|
(1,978
|
)
|
3,590
|
1,612
|
|||||||||||||||||
Foreign currency translation gain
|
--
|
--
|
1
|
--
|
--
|
1
|
||||||||||||||||||
Distributions
|
--
|
--
|
--
|
--
|
(1,000
|
)
|
(1,000
|
)
|
||||||||||||||||
Ending balance
|
$
|
78
|
$
|
4,310
|
$
|
7
|
$
|
(147,508
|
)
|
$
|
7,104
|
$
|
(136,009
|
)
|
||||||||||
For the Six Months Ended June 30, 2019
|
||||||||||||||||||||||||
Beginning balance
|
$
|
78
|
$
|
4,310
|
$
|
17
|
$
|
(139,129
|
)
|
$
|
2,621
|
$
|
(132,103
|
)
|
||||||||||
Net (loss) income
|
--
|
--
|
--
|
(5,154
|
)
|
220
|
(4,934
|
)
|
||||||||||||||||
Foreign currency translation gain
|
--
|
--
|
2
|
--
|
--
|
2
|
||||||||||||||||||
Distributions
|
--
|
--
|
--
|
--
|
(984
|
)
|
(984
|
)
|
||||||||||||||||
Ending balance
|
$
|
78
|
$
|
4,310
|
$
|
19
|
$
|
(144,283
|
)
|
$
|
1,857
|
$
|
(138,019
|
)
|
Three Months Ended June 30,
|
Six Months Ended June 30,
|
|||||||||||||||
2020
|
2019
|
2020
|
2019
|
|||||||||||||
Federal
|
$
|
46,877
|
$
|
33,774
|
$
|
82,968
|
$
|
62,757
|
||||||||
State & Local, and Commercial
|
1,733
|
2,274
|
4,621
|
4,457
|
||||||||||||
Total
|
$
|
48,610
|
$
|
36,048
|
$
|
87,589
|
$
|
67,214
|
Three Months Ended June 30,
|
Six Months Ended June 30,
|
|||||||||||||||
2020
|
2019
|
2020
|
2019
|
|||||||||||||
Firm fixed-price
|
$
|
41,935
|
$
|
28,857
|
$
|
73,596
|
$
|
53,787
|
||||||||
Time-and-materials
|
3,637
|
3,691
|
7,462
|
7,620
|
||||||||||||
Cost plus fixed fee
|
3,038
|
3,500
|
6,531
|
5,807
|
||||||||||||
Total
|
$
|
48,610
|
$
|
36,048
|
$
|
87,589
|
$
|
67,214
|
June 30, 2020
|
December 31, 2019
|
|||||||
Billed accounts receivable
|
$
|
18,420
|
$
|
11,917
|
||||
Unbilled receivables
|
20,689
|
16,745
|
||||||
Allowance for doubtful accounts
|
(738
|
)
|
(720
|
)
|
||||
Receivables – net
|
$
|
38,371
|
$
|
27,942
|
June 30, 2020
|
December 31, 2019
|
|||||||
Contract liabilities
|
$
|
6,682
|
$
|
6,337
|
June 30, 2020
|
December 31, 2019
|
|||||||
Cumulative foreign currency translation loss
|
$
|
(100
|
)
|
$
|
(101
|
)
|
||
Cumulative actuarial gain on pension liability adjustment
|
107
|
107
|
||||||
Accumulated other comprehensive income
|
$
|
7
|
$
|
6
|
● |
Upon the occurrence of a change in control of the Class A member (as defined in the Operating Agreement, a “Change in Control”), the Class A member has
the option to purchase the entire membership interest of the Class B member.
|
● |
Upon the occurrence of the following events: (i) the involuntary termination of John B. Wood as CEO and chairman of the Class A member; (ii) the
bankruptcy of the Class A member; or (iii) unless the Class A member exercises its option to acquire the entire membership interest of the Class B member upon a Change in Control of the Class A member, the transfer or issuance of more than
fifty-one percent (51%) of the outstanding voting securities of the Class A member to a third party, the Class B member has the option to purchase the membership interest of the Class A member; provided, however, that in the event that the
Class B member exercises the foregoing option, the Class A Member may then choose to purchase the entire interest of the Class B member.
|
● |
In the event that more than fifty percent (50%) of the ownership interests in the Class B member are transferred to persons or individuals (other than
members of the immediate family of the initial owners of the Class B member) without the consent of Telos ID, the Class A member has the option to purchase the entire membership interest of the Class B member.
|
● |
The Class B member has the option to sell its interest to the Class A member at any time if there is not a letter of intent to sell Telos ID, a binding
contract to sell all of the assets or membership interests in Telos ID, or a standstill for due diligence with respect to a sale of Telos ID. Notwithstanding the foregoing, the Class A member will not be obligated to purchase the interest of
the Class B member if that purchase would constitute a violation of any existing line of credit available to the Company after giving effect to that purchase and the applicable lender refuses to consent to that purchase or to waive such
violation.
|
Three Months Ended June 30,
|
Six Months Ended June 30,
|
|||||||||||||||
2020
|
2019
|
2020
|
2019
|
|||||||||||||
Non-controlling interest, beginning of period
|
$
|
5,298
|
$
|
2,378
|
$
|
4,514
|
$
|
2,621
|
||||||||
Net income (loss)
|
2,806
|
(253
|
)
|
3,590
|
220
|
|||||||||||
Distributions
|
(1,000
|
)
|
(268
|
)
|
(1,000
|
)
|
(984
|
)
|
||||||||
Non-controlling interest, end of period
|
$
|
7,104
|
$
|
1,857
|
$
|
7,104
|
$
|
1,857
|
● |
The Company borrowed an additional $5 million from the Lenders, increasing the total amount of the principal to $16 million.
|
● |
The maturity date of the Credit Agreement was amended from January 25, 2022 to January 15, 2021.
|
● |
The prepayment price was amended as follows: (a) from January 26, 2019 through January 25, 2020, the prepayment price is 102% of the principal amount, (b) from January
26, 2020 through October 14, 2020, the prepayment price is 101% of the principal amount, and (c) from October 15, 2020 to the maturity date, the prepayment price will be at par. However, the prepayment price for the additional $5 million
loan attributable to the Fourth Amendment will be at par.
|
● |
The following financial covenants, as defined in the Credit Agreement, were amended and updated: Consolidated Leverage Ratio, Consolidated Senior Leverage Ratio,
Consolidated Capital Expenditures, Minimum Fixed Charge Coverage Ratio, and Minimum Consolidated Net Working Capital.
|
● |
Any actual or potential non-compliance with the applicable provisions of the Credit Agreement were waived.
|
● |
The borrowing under the Credit Agreement continues to be collateralized by substantially all of the Company’s assets including inventory, equipment and accounts
receivable.
|
● |
The Company paid the Agent a fee of $110,000 in connection with the Fourth Amendment. We incurred immaterial third party transation costs which were expensed during the
current period.
|
● |
The exit fee was increased from $825,000 to $1,200,000.
|
June 30, 2020
|
December 31, 2019
|
|||||||
Senior term loan, including exit fee
|
$
|
17,200
|
$
|
17,200
|
||||
Less: Unamortized discount, debt issuance costs, and lender fees
|
(512
|
)
|
(865
|
)
|
||||
Senior term loan, net
|
$
|
16,688
|
$
|
16,335
|
Year ending December 31,
|
Operating Leases
|
Finance Leases
|
||||||
2020 (excluding the six months ended June 30, 2020)
|
$
|
371
|
$
|
1,033
|
||||
2021
|
752
|
2,097
|
||||||
2022
|
592
|
2,149
|
||||||
2023
|
373
|
2,203
|
||||||
2024
|
27
|
2,258
|
||||||
After 2024
|
--
|
10,658
|
||||||
Total lease payments
|
2,115
|
20,398
|
||||||
Less imputed interest
|
(178
|
)
|
(4,127
|
)
|
||||
Total
|
$
|
1,937
|
$
|
16,271
|
Three Months Ended June 30,
|
Six Months Ended June 30,
|
|||||||||||||||
2020
|
2019
|
2020
|
2019
|
|||||||||||||
Operating lease cost
|
$
|
182
|
$
|
147
|
$
|
360
|
$
|
294
|
||||||||
Short-term lease cost (1)
|
30
|
42
|
57
|
84
|
||||||||||||
Finance lease cost
|
||||||||||||||||
Amortization of right-of-use assets
|
305
|
305
|
610
|
610
|
||||||||||||
Interest on lease liabilities
|
208
|
222
|
419
|
447
|
||||||||||||
Total finance lease cost
|
513
|
527
|
1,029
|
1,057
|
||||||||||||
Total lease costs
|
$
|
725
|
$
|
716
|
$
|
1,446
|
$
|
1,435
|
Six Months Ended June 30,
|
||||||||
2020
|
2019
|
|||||||
Cash paid for amounts included in the measurement of lease liabilities:
|
||||||||
Cash flows from operating activities - operating leases
|
$
|
375
|
$
|
279
|
||||
Cash flows from operating activities - finance leases
|
1,012
|
987
|
||||||
Operating lease right-of-use assets obtained in exchange for lease obligations
|
300
|
245
|
●
|
Cybersecurity – Today’s
enterprises need to understand and manage their cyber risk and reduce their cyber attack surfaces. Telos helps our customers assure the ongoing security, integrity, and compliance of their on-premises and cloud-based systems and to reduce
threats and vulnerabilities to foil cyber adversaries before they can attack. Our consultants assess our customers’ security environments and design, engineer, and operate the systems they need to strengthen their cybersecurity posture.
|
●
|
Cloud Security – The cloud as
an organizational resource is more than two decades old, yet the needs of cloud users are constantly changing. Telos offers the specialized skills and experience needed to help our customers plan, engineer, and execute secure cloud migration
strategies and then assure ongoing management and security in keeping with the leading standards for cloud-based systems and workloads.
|
●
|
Enterprise Security – Securing
the enterprise means protecting the essential and timeless elements common to every organization: Its people and processes, its supply chain and inventories, its finances and facilities, its information and communications. As ICT and OT
systems have become part of the organizational DNA, Telos has led with offerings that ensure personnel can work securely and productively across and beyond the enterprise.
|
Three Months Ended June 30,
|
Six Months Ended June 30,
|
||||||
2020
|
2019
|
2020
|
2019
|
||||
(unaudited)
|
|||||||
Revenue
|
100.0%
|
100.0%
|
100.0%
|
100.0%
|
|||
Cost of sales
|
63.8
|
72.2
|
66.0
|
71.8
|
|||
Selling, general, and administrative expenses
|
25.8
|
29.0
|
27.8
|
30.9
|
|||
Operating income (loss)
|
10.4
|
(1.2)
|
6.2
|
(2.7)
|
|||
Other income
|
----
|
0.5
|
----
|
0.3
|
|||
Interest expense
|
(4.1)
|
(4.8)
|
(4.6)
|
(5.2)
|
|||
Income (loss) before income taxes
|
6.3
|
(5.5)
|
1.6
|
(7.6)
|
|||
Benefit from income taxes
|
----
|
----
|
0.2
|
0.3
|
|||
Net income (loss)
|
6.3
|
(5.5)
|
1.8
|
(7.3)
|
|||
Less: Net (income) loss attributable to non-controlling interest
|
(5.8)
|
0.7
|
(4.1)
|
(0.3)
|
|||
Net income (loss) attributable to Telos Corporation
|
0.5%
|
(4.8)%
|
(2.3)%
|
(7.6)%
|
●
|
The Company borrowed an additional $5 million from the Lenders, increasing the total amount of the principal to $16 million.
|
●
|
The maturity date of the Credit Agreement was amended from January 25, 2022 to January 15, 2021.
|
●
|
The prepayment price was amended as follows: (a) from January 26, 2019 through January 25, 2020, the prepayment price is 102% of the
principal amount, (b) from January 26, 2020 through October 14, 2020, the prepayment price is 101% of the principal amount, and (c) from October 15, 2020 to the maturity date, the prepayment price will be at par. However, the prepayment
price for the additional $5 million loan attributable to the Fourth Amendment will be at par.
|
●
|
The following financial covenants, as defined in the Credit Agreement, were amended and updated: Consolidated Leverage Ratio,
Consolidated Senior Leverage Ratio, Consolidated Capital Expenditures, Minimum Fixed Charge Coverage Ratio, and Minimum Consolidated Net Working Capital.
|
●
|
Any actual or potential non-compliance with the applicable provisions of the Credit Agreement were waived.
|
●
|
The borrowing under the Credit Agreement continues to be collateralized by substantially all of the Company’s assets including
inventory, equipment and accounts receivable.
|
●
|
The Company paid the Agent a fee of $110,000 in connection with the Fourth Amendment. We incurred immaterial third party transaction
costs which were expensed in the current period.
|
●
|
The exit fee was increased from $825,000 to $1,200,000.
|
Exhibit
Number
|
Description of Exhibit
|
31.1*
|
|
31.2*
|
|
32*
|
|
101.INS**
|
XBRL Instance Document
|
101.SCH**
|
XBRL Taxonomy Extension Schema
|
101.CAL**
|
XBRL Taxonomy Extension Calculation Linkbase
|
101.DEF**
|
XBRL Taxonomy Extension Definition Linkbase
|
101.LAB**
|
XBRL Taxonomy Extension Label Linkbase
|
101.PRE**
|
XBRL Taxonomy Extension Presentation Linkbase
|
Date: August 13, 2020
|
TELOS CORPORATION
|
|
/s/ John B. Wood
|
||
John B. Wood
Chief Executive Officer (Principal Executive Officer)
|
/s/ Michele Nakazawa
|
||
Michele Nakazawa
Chief Financial Officer (Principal Financial and Accounting Officer)
|
Date: August 13, 2020
|
/s/ John B. Wood |
John B. Wood
|
Chief Executive Officer (Principal Executive Officer)
|
Date: August 13, 2020
|
/s/ Michele Nakazawa |
Michele Nakazawa
|
Chief Financial Officer (Principal Financial and Accounting Officer)
|
Date: August 13, 2020
|
/s/ John B. Wood |
John B. Wood
|
Chief Executive Officer (Principal Executive Officer)
|
Date: August 14, 2020
|
/s/ Michele Nakazawa |
Michele Nakazawa
|
Chief Financial Officer (Principal Financial and Accounting Officer)
|