ToughBuilt, as you might know, offers a wide range of hand tools and sawhorses, and has long-specialized in tool bags, pouches, related soft storage products.
ToughBuilt launched a new line of StackTech modular tool boxes less than one year ago, and laid out am ambitious expansion plan that they have been making good progress on.
The company has a history of innovation. Everything looks to be going quite well for ToughBuilt, but some tool users have expressed hesitations and concerns.
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A reader wrote in with a tough question. Andrew (thank you!) said (with immaterial edits):
Hello Stuart – I saw your recent post about Flex Tools. I was going through the comments section as I enjoy the healthy debates and I came across some observations about Toughbuilt and that the company may not be in for the long haul.
I am looking at [ToughBuilt’s] Stacktech system and I believe its genuinely innovative and breaks the mold of [Milwaukee] Packout.
But I worry that buying into this system comes with risk, as the company has had issues with financing, being warned that they could be de listed from Nasdaq due to a recent 8K, and indicators they came to a settlement to pay long overdue missed rents for their facility in North Carolina… which is in the same town as the Lowes HQ.
Could you get the real deal about what’s going on with Toughbuilt?
In my opinion, there is a disconnect between ToughBuilt’s stock performance and their potential as a company. However, it’s worth noting that their stock price is up considerably in the past 3 months, suggesting increasing investor confidence.
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Stock pricing can be complex and difficult to understand. Even the best analysts in the world cannot reliably predict the direction of a company’s stock price.
There are a lot of bureaucratic nuances involved with financial filings, and I’m not too concerned with this being an indicator of anything concerning. ToughBuilt has announced they intend to remedy the delinquency. As for rent or leasing disputes, I haven’t heard about that, and a quick Google search turns up a complaint from more than a year ago.
Personally, I think that ToughBuilt has an innovative and exciting tool storage system with huge potential, and I feel that ToughBuilt as a company has great things ahead of them.
This is their time of growth, as they go from small specialty brand to bigger household name. They’re burning through money to do it, and that won’t always be true.
There’s always risk when buying into a proprietary tool box or cordless power tool system. I’m not worried, and would say that confidence takes time.
My confidence in ToughBuilt comes from the sum of a lot of things, including multiple conversations with the company over the past few years.
That might not reassure you, however, so I pinged my marketing contact at ToughBuilt. I mentioned I was finalizing a post about the brand today, and we were able to connect with a call.
I was put in touch with Michael Panosian, founder and CEO of ToughBuilt Industries, earlier today. I have spoken to him before, and it’s always a pleasure. He’s a very different CEO – the rare hands-on type that speaks plainly, openly, and genuinely.
The main takeaway from our conversation is that ToughBuilt is building inventory to meet customer demand.
3 months ago, I wrote a post complaining about StackTech availability – I Think Lowe’s is Botching ToughBuilt StackTech. Inventory and availability seems to have been the bottleneck.
Back in mid-April, ToughBuilt announced that they had obtained purchase order financing for supply chain and growth initiatives.
Basically, as I understand it, ToughBuilt secured lines of credit for producing a much larger inventory of StackTech tool boxes. This does not seem uncommon for smaller companies that aren’t sitting on huge cash reserves. Even larger companies take out loans for different reasons.
Any bottlenecks on the production side have also been worked out.
In addition to expanding production, ToughBuilt is also expanding StackTech availability. Lowe’s will remain ToughBuilt’s flagship partner, and users will soon be able to find StackTech tool boxes and storage products at other suppliers.
The key is that users will be able to find ToughBuilt tool boxes at multiple sources, although I think Lowe’s will remain a preferred destination for many.
New users especially could benefit from being to feel how easily the StackTech tool boxes connect together.
In a previous call, I was told that ToughBuilt was working with Lowe’s to improve accessibility at stores and online, which is great, and news of broader availability simply means tool users will have more purchasing options.
ToughBuilt building inventory and broadening availability sounds pretty reassuring to me.
ToughBuilt’s CEO also conveyed that he sees demand as a bigger challenge. Profitability is easy, at least in contrast to how demand is a lot harder to spark and grow organically.
Right now, the company is entirely concerned with meeting customers’ needs and wants. They’re committed to StackTech and are continuing with a long roadmap of innovation and expansion, some of which was revealed last October.
There is huge demand for StackTech products, and I can attest to this given the volume of comments and inquiries.
It does seem to me that this was the hard part, at least after developing a high quality and user-friendly product.
StackTech was first announced 9-1/2 months ago. I think ToughBuilt is doing as well as any brand could hope.
We can expect to see more inventory rolling out to Lowe’s stores, and if all goes according to plan we’ll see much broader availability in a couple of months.
Let me know if you have any questions. I can’t promises answers to everything, but ToughBuilt has a great team that hasn’t disappointed me yet.
Nathan
Hope they are able to stick around. Their sawhorse table setup is awesome.
Patrick Johnson
One has to wonder how often the retailers get blamed for a problem the supplier created?
MM
Anyone with retail experience or who has read online product reviews can answer this question in a split second: daily. People also blame retailers for other things completely outside their control, like legal restrictions on the products they sell, 3rd party shipping delays, and their own ability to read and follow the product’s instructions.
Back to the point at hand, I agree with Nathan here, I Toughbuilt has some excellent products and reasonable prices, I hope they stick around. Also I have noticed that the area where the StackTech storage is displayed at my local Lowe’s was redone sometime in the last few weeks and it looks better now with more selection apparent too so perhaps that bodes well for the future?
Stuart
I have been frustrated by enough inventory mismanagement to believe the responsibility for Lowe’s availability is shared by both parties.
Lowe’s deserves their share of blame.
Regarding StackTech, the first announcements came out less than 10 months ago. There were bound to be some initial wrinkles.
Even Milwaukee Packout had shortages and availability problems initially, and the system launched with fewer products.
I think that demand was so much greater than expected, and in a way that’s very new for Lowe’s too.
TomD
I understand the pain associated with being in an orphan system, but if the system has something that you need that the others don’t it’s often worth just going for it. Worst case scenario it works as it always has until you finally replace it with something else.
Chris
Rolling drawer box when? 😆
Real question though: Other than what we’ve seen of the Stacktech products on the roadmaps, is TB working on other products? Would love a Cabinet style box similar to Packout’s.
Jillian
Chris I am wondering the same thing? I settled for the other rolling base but it’s just not functional. I was able to finally find 2 single drawer and one 3 drawer bin online through Lowe’s but I really need that other base. I’m trying to wait patiently but it’s frustrating. Do we know where online we will be able to get them? I am convinced that this is better than milwaukee. It could be a little lighter but I understand I’m buying something that will protect my equipment too (previously used multiple rolling Pelican cases and trying to get to 1 unit vs many).
Jason M
I really want to go all in on the line because of a few things they have and honestly to get rid of my bright red tool boxes, just easier said than done right now.
Jeff
The latch on their compact low profile organisers is weak. They fix that, & its off to the races w/Packout
David
True with the half width one; the full size low profile is much better.
Steve L
I bought Toughbuilt sawhorses 4-5 years ago at Home Depot. Glad I got them. Been waiting for StackTech products to be on a shelf so I could touch and judge for myself. Understand they are a small company and have had to work thru hurdles a Dewalt or Milwaukee do not face.
I have Dewalt ToughSystem toolboxes, no drawers. Now the DXL line is coming.
Has Toughbuilt taken too long to bring a well engineered product to market? I might have bought some if it had been released 6 months ago. Now I want to look at DXL and decide
Jake Babich
Manitowoc WI Lowes store has absolutely NOTHING in stick or on display for stackteck since May. ( I just checked again on 7/23/24 ) I am disgusted with Lowes treatment of this brand. I have had to got to 13 different stores across thw united states just to track down a single drawer. That same day , some were available to finally buy online and of course I bought 2. I’m in over 2,500$ grand and not about to walk away. But I’m dying to get my hands on the yet to be released products such as thw vacuum, fan , light and work light. Please don’t make me wait a whole year. Tools make me money, and I need to eat.
Jeremiah McKenna
Wtf is 2,500$ grand?
Jake k.
Thanks Stuart. I love toughbuilt and now I like their ceo even more. But this still does not address your complaints about theirs and Lowes relationship. I know he probably cannot co vey that their agreement might have been a mistake, but I hope it does not ruin their company. I am hesitant to spend thousands on something that doesn’t have a reliable retailer or willingness to keep it out of stores completely and sell online.
Stuart
We spoke about Lowe’s briefly, and it was conveyed that ToughBuilt is working hard to streamline inventory replenishment on their end.
I am confident that Lowe’s will remain ToughBuilt’s flagship partner, providing the most convenient purchasing path for many customers, especially those who want to check out the tool box system in person.
In the past year, I have spoken to Flex, Klein, and ToughBuilt about their tool box system placements at Lowe’s. It’s probably no longer true for Flex, but all seemed excited about a very fruitful relationship with Lowe’s.
Personally, I think that in-store availability is crucial for any modular and portable tool box and storage system, at least to help with early adoption.
In my opinion, I don’t think anyone feels ToughBuilt’s relationship with Lowe’s was a mistake, except perhaps for Chervon and Flex, who seem to have lost out because of it.
Plain+grainy
I notice the Toughbuilt Quickset miter carts are hard to find. They are always out of stock at Home Depot & Lowe’s. They must compete against their own brands, so they don’t carry them.
Lennox Garmendia
I love the toughbuilt tools I’ve had so far but I’ve been waiting for a restock on the c700 saw horses for almost a year. It’s ridiculous. There’s a Reddit it page about it that people keep checking back to that even the company has commented on and still nothing. Any word on that restock? I hope they don’t end up compromising quality to meet demand.
nates
Home Depot service told me they were discontinued when I tried to buy them there about a year an a half or more ago. and redirected me to husky. Several Home Depot stores listed them as in stock online, but had none when I got there.
Nathan
I didn’t know tough uilt put their name on so many things. I vaguely remember the knee pad with the removable covers. And I vaguely recall the hammer. Never seen for heard of the miter saw stands untill I went to their website.
Jeremy T Roberts
I love toughbuilt brand…they have screwdrivers, really innovative utility knives, pullsaw, carpenter saw, Lil foldable saw, damn nice levels, sawhorses, miterstand, badass shovels,and of course clip tech tool belt, foldable quick deploy work bench,hammers, and tape measures….this is what I have but they have many more products…the problem is I never see them at lowes anymore….they had the 4′ levels on sale for $39, I missed it because they were sold out in less than a day and they never got anymore in stock….I would buy most all of there products if they were available.
Trevor
When will it be in retail stores in Canada 🍁 ?
eddiesky
Lowe’s and Depot have a reputation of kicking someone to the curb if their sales aren’t progressive and profitable. If Lowes carries this line, with online sites like Acme or Toolnut or other with variants/exclusives not of Lowes,… the customer gets the penalty because prices will be fixed. Otherwise, why get it from Lowes if Acme has a sale? I dislike these “exclusive partnerships based on saturation”.
If its not carried, stocked or advertised, what’s the point? I never even heard of Stackteck/Toughbuilt till ToolGuyd. And cost? I mean I don’t want products that cost more than the tools I store in them. Even now, I just noticed the Dewalt 2.0 2-drawer I received when nested on top of the 3 drawer and latched, wobbles. The damn thing got scuffed from delivery, that it lost 1-2mm of material on a corner.
Plus loaded with some tools, ironically Dewalt cordless, its rather clumsy and heavy to move about.
I do cheer for the underdog, but I think Lowes will drop this line once the bean counters decide on having floor space for more profitable crap.
Stuart
Dewalt ToughSystem drawer stack wobble is not damage, it’s just the way it is.
It was a “what?! why?!” moment for me too. There are 3D printable spacers, or you can use carboard or plastic shims under the feet.
Norm
I’m a big fan of Toughbuilt tools in general. They are very innovative, and generally look “cool”, or at least modern/different.
Menards recently had a crazy sale where various pouches and hand tools were tool low to pass up on almost anything.
I really like Stacktech, but I haven’t jumped in. Rigid pro boxes are what I started with, and now they have expanded. They were just more affordable.
Kyle
Not sure I would call those sale prices, those are clearance prices. It seems to me like they’re dropping Toughbuilt and pushing their existing inventory out the door.
Doresoom
When searching for those ToughBuilt clearance items at Menards I noticed they now have a new MasterForce ProLock tool belt system that is a near exact copy of the ToughBuilt ClipTech system. The only real difference is the cleats are vertical instead of angled.
The funny thing is, the original ClipTech patent expires NEXT year: https://patents.google.com/patent/US7686196B2/en
I wonder if ToughBuilt licensed it to Menards in anticipation of the expiration.
Kyle
I noticed the same thing as well. Total deadringers (at like 5x the price of the outgoing ToughBuilt items!). I loaded up on a bit of everything that Menard’s had in stock.
Norm
What was weird is, it was stuff not regularly in the store.
Kyle
Menard’s is a bit weird. I would swear that part of their operation involves buying liquidation lots and selling it in store and on line.
I remember an email that had them selling some Milaukee brand bit set. Menard’s does not carry any other Milwaukee tools, and to my knowledge, never has.
Their email flyers in general are quite peculiar. Amazon soup brand junk mixed in with name brand tools and huge discounts.
Leo B.
“Profitability easy, at least in contrast to how demand is a lot harder to spark and grow organically.”
Maybe this should be profitability “is” easy? Thanks for the interesting interview!
Stuart
Thanks, whoops – forgot a word in there. *fixed*
It does make a lot of sense. When I look at say 5 tool brands that are struggling right now, the core issue is with demand.
If tool users want your products, other challenges will be easier to tackle.
Gg
Lowes in evansville indiana has a week selection on shelf. Hope toughbuilt stays around
Robert
Stuart, did you bring up the financial issues Andrew mentioned of “(Toughbuilt) be de listed from Nasdaq due to a recent 8K, and indicators they came to a settlement to pay long overdue missed rents for their facility in North Carolina“ with their CEO? Assuming Andrew was correct in his information.
Stuart
As mentioned in the post:
Most companies are not at the freedom to discuss financial matters outside of what is approved by their auditors and legal team.
CMF
Yes, auditors, legal teams, as well as the SEC, and other reasons, usually makes knowing what is really happening difficult.
I can believe you when you say the the CEO is very personable and very open. But if he knows they were on the edge of bankruptcy, there is no way he can disclose this.
I have been following their stock since you first announced they were possibly bringing StackTech to market. Their stock was in the $2.20 range. Now they have more than doubled to low $5.00 range. But about 20 months ago, they were in the low $6.00 range. So who knows what is going on…I guess the CEO does, but he sure won’t say anything. (lose his job, fines and possible prison time if he did)
I hope they make it…as well as Flex, Lowes and others in questionable circumstances.
JR Ramos
Current and historical prices don’t take into account the reverse splits or the dilution of stock with the public offerings…gets muddy unless you’ve been paying attention for awhile or try to connect dots with past reports/articles/news. Pretty much everyone who had early stock has been hosed – badly – by the splits. It’s almost like a pattern at this point but they have been attempting to stay afloat with those two pony tricks….so it would seem, going back about 4-5 years.
JR Ramos
That may have been me that mentioned the court settlement with landlords (well, at least one of them settled with rather strict terms that look forward for a few years…that was just a couple months ago in May…not sure what the status is for the other suit). Significant amount of money owed and committed – hopefully they have it and can continue to earn it and/or use some of those loaned funds toward it if need be (sounded like those may be earmarked but who knows for sure).
I think maybe you meant the 10-K…which is the year end report. It’s the biggest omission and they had better get their ducks in a row on that asap. The 10-Q first quarter is also outstanding, and they’ll be up on the next in short order, too. There is a fair amount of lenience there but their excuses have been kinda lame (even if honest) and it got to the point of having a hearing on the matters & potential delisting. The errors of the other matter are resolved and will surely be forgiven (resignation of one of their three independent directors…who I think was also their main accountant, not positive).
Collectively, all of this is rather serious, but you will never ever hear any executive from any publicly held company admit (and rarely even allude) to any of this. Rather, the positive attributes and forward-thinking comforting statements are de rigueur. Hopefully surmountable and clearly they are not giving up. Treading water right now…they need sales bad but they need stock and availability and customer acceptance to do it. I hope recent falters over the last several years don’t stick too hard in people’s gullets but I think to many they don’t appear to be a company that is dedicated to maintaining a product line over time so it’s riskier to invest if it seems like a one-off product that may not be available (or in the same form) in the short term.
Frank D
I would love to go all in on StackTech, for my bigger boxes; and get rid of the bright red … if only StackTech had come first!
The only deficiency I saw is slimline organizers. Nothing in the market can replace those with custom inserts and bins from Benjamen ( electronsmith ) and myself. Four, five, eight, ten … up 15 different small parts separated in one shallow cup.
John S
I just want more of their tape measures
Michael G
Love the product, buts almost never available in stores, I had to order the product through the Lowe’s website and Lowe’s charge me $67 for shipping so I paid $200 for $140 toolbox
JR Ramos
I like them and hope they make it. This just feels like typical corporate rose colored glasses statement, though, honestly….and that’s precisely what you should expect even with more down-to-earth executives (like several of the TB people genuinely seem to be). Where the rubber meets the road – right now – is extremely important, however, and collectively the issues they have are pretty serious.
I would personally ignore the near-term stock valuation. If you don’t look at the history then it’s foolish to just look at the present only and say “it’s up.” They haven’t recovered to the level they were at just shortly before their event in February this year, and even taking into account the two reverse splits…..doesn’t look good at all for any typical investor. Fun money investment might see some gains, maybe not, but they’re in a fairly precarious position still. Not sure anyone would disagree with that.
Locally, two of my Lowe’s stores looked like they cleared out all the TB products, including the StackTech, couple months ago. Both had significant rack space up front upon release last holiday season, and both greatly reduced that to the tool section later with just a handful of items on those small racks (looks like they’re mostly ditching Versastack…). But right now, one of those two stores only has like four TB items on pegs and no boxes or pouches or belts to be seen anywhere. They show them in stock (online, website…not always the same as what employees see) but they are invisible. I was hoping maybe this meant that they were planning a large departmental merchandising re-set in the near future.
It’s been frustrating trying to actually buy their products over the last three years. For awhile many were available on Amazon or Home Depot’s shipping service, but offerings on Amazon are sparse now and overpriced usually, and HD has hardly anything showing anymore. The favorite online tool sites don’t seem to have as much either (shown and/or in stock). Lowe’s has really been spotty too. But for whatever reason, that kind of thing, lasting as long as it has, leaves a sour or cautious taste in the mouths of customers. Coupled with an incredible effort to push a huge new line of product while previous offerings remain unavailable makes it hard for some to embrace the brand (any brand that acts similarly). I hope they can diversify and not have too many eggs in the basket of StackTech as a lifesaving buoy, because as good as those are, the market is so saturated and most of the other companies are large, established, and not at risk of falling behind in the future, which is an important decision for many when it comes to larger investments like a line of modular and proprietary storage.
If the suit against Klein causes the mod-box line to be pulled from the market then that might help out TB’s sales at Lowe’s but it’s still a small chunk of the overall market with Milwaukee and DeWalt being so dominant.
Tony
I have been buying quite a bit of the Toughbuilt products as I like their products, but they hard to find in Canada. The only 2 places that sell Toughbuilt products in Canada (Atlas Machinery and Princess Auto) Princess Auto is the only store where I live and a lot of the Toughbuilt products are being sold as clearance and can no longer have a lot of thread bigger products. I wondering if they are ending carrying Toughbuilt products. I been trying to buy the ToughBuilt TB-S600 Universal Quickset Miter Saw Stand for over a year and it has not been available either in Canada know the U.S. My point is if they supply their other products, I wouldn’t be sure to buy the StackTach products. I have contacted Toughbuilt for 8 months asking about ToughBuilt TB-S600 Universal Quickset Miter Saw Stand availability and other products and they use the same excuse everytime that they will be available soon. I think they should up the meaning of soon. I like their products but disappointed in Toughbuilt and them supplying their products.
JR Ramos
Haha…”soon”…the universal blow-off. I think Milwaukee is famous for that with some items. I like several of their items, too. Their little pocket level is pretty nice and I like it better than the similar one from Milwaukee. From comments above, I went to the Menards website and just bought four of the standard grey “builder’s bags”…$9 and $11 each, my gosh. Even with their ridiculous item-pick fees and high shipping it was still worth it…have a feeling they won’t be available anymore and they’re pretty nice bags, above any that I’ve seen from the major tool brands or aftermarket brands (but not as rugged as what I’ve seen from Ergodyne and Veto). I wouldn’t mind picking up a couple spare cliptech pouches but I can’t find the two I like anywhere.
If they’re still going to be married to Lowe’s and/or have similar agreements with other retailers soon, then there might not be a chance of them selling direct on their website – don’t think they’re staffed or geared up for that even if they had product, but it might be one way to get them to you in Canada if shipping was reasonable. I have a feeling that until/unless they can right their ship, it may not be feasible for them to try to handle supplying the Canadian market. Seems like they were doing South America, though…? At this point, personally, I won’t buy anything from them that isn’t fairly inexpensive and doesn’t need a warranty that I might be concerned with in the future…wait and see, for me.
Justin
ToughBuilt is probably my favorite (relatively) new tool brand. It seems like they are innovative in unconventional ways, and the products really live up to the hype. Everything I have purchased, I have loved. The friends who borrow my tools, pads, and bags have also returned them with glowing reviews of how much they liked the item.
At this point, I would honestly consider dumping all of my existing Ridgid – DeWalt – and Milwaukee (both the original style and Packout) tool storage to consolidate with ToughBuilt if I could find consistent inventory locally. Lowe’s just doesn’t have stock of the items I want, and it almost seems like they clearance some TB items almost instantly. They had some incredible kneepads in the spring, I bought one set at full price, then saw they were being discontinued not even a month later, so I bought several pairs at $8 a piece. Now they’re clearing out the TB boxcutters and blades, which are also a staple of my shop.
It’s killing me that a brand with this much innovation and originality is being cast off for more mediocre Kobalt and Craftsman branded junk. I think TB can totally exist in the same premium tool segment as Milwaukee has put themselves in.
John Zahner
I would be all over these if I could start over again, but I am pot committed to Dewalt Toughsystem.
Wayne Thornberry
I love this stuff! I saw the Tough Built Stack Tech line and went all in with it, dumping my Versastack boxes. I keep looking for the 2 drawer box and can’t find it anywhere. I wish that the company would let you order direct. I’ve searched every Lowe’s store in KY but can’t find what I need. It looks like Lowe’s has cleared out all the clip tech bags from their inventory also. I think Lowe’s is shorting the Stack Teck to keep yellow and red items along with Kobalt in stock.
Harrison
I remember when this blog teased Stack Tech before it was released, suggesting the product line would be such a game changer that readers should hold off investing in other storage systems…. Lol.
As someone who studied industrial design, I was definitely impressed with the thought put into the system and features, but the whole lineup seemed overly complex, especially for a small company. I was skeptical of how this ToughBuilt brand (that seemingly came out of nowhere) would actually distribute & merchandise such a deep product line.
It’s still early days, and I hope they find their niche, but this market is already saturated. The Home Depots around me stock only a few pieces of the dewalt Tough and Packout systems, in addition to their house brands. There just isn’t space in home-improvement stores for a full lineup of anything. You have to go to a real tool store to find an entire system merchandised, even for Packout.
I’ve spoken in the past about my support of a Makita modular system- It should be a profitable no-brainer, and do or die if they want to be taken seriously in North America.
That said, even as a large global brand, it seems incredibly unlikely they would ever rival Red & Yellow for shelf space at the big box store. A hypothetical Makita system would probably only be available at dedicated tool stores like Atlas, and maybe the odd pro-focused lumber yard. It’s hard to imagine Toughbuilt having any more reach than that.
Speaking of Atlas up here in Canada- They have the Toughbuilt Stack Tech stuff listed on their website as a Pre-order’
J R Home Improvement
They screwed up going with Lowes. No professional I know shops at Lowes. Professionals use HD. If you want something broken on delivery, delayed, backordered, wrong item shipped, than by all means use Lowes.
Blythe
Pretty robust selection of stacktech in Hudson valley NY
Roman Tarchinski
I’ve started building up my stacktech system and I LOVE it. I am patiently waiting for the expansion produces they advertised, really want that shop vac and the large draw base box.
So far have been really Impressed with how tough these boxes are and how easy it is to separate them when you want and how well they stay together when you don’t.
Really hoping they’re in it for the long haul, would hate to see such an innovative product line leave the industry.
Jeremiah McKenna
This is a major uphill battle for almost any company trying to launch something new. First, this is a flooded field. There are several established brands and products on the market and thry have loyal followings. Second, we are in a recession, so a majority of homeowners, diy or entry level tradesmen can’t afford the higher priced boxes. Third, thry partnered with Lowe’s, which is not typically a powerhouse in an up market for tools being bought by contractors. Homeowners and diy may buy more in an upmarket, but that’s still not enough to carry all of the selections. Lowe’s has become the boutique hardware store and lost track of where they came from. They stopped training their employees to care about the job at hand. So, less and less people shop there.
TTI was smart by joining forces with HD early and promoting theor products, while HD became stronger in the marketplace.
As I’ve said countless times, competition is great for everyone, as it makes the leaders cone out with better products and helps lower prices. But like I said, coming to the flooded market in a down economy makes it hard to survive, especially when you hitch your wagon to a sinking ship.
Mike
Canadian here waiting for the StackTech line to be available, but I’m not going to start building up my kit until the rolling drawer box is available. If I have to cross the border to pick one up I will, but it would be nice to know what the timeframe is. They claim summer 2024, but I’m not holding my breath. (Lowes doesn’t ship to Canada and the Canadian Lowes stores were bought out by Rona who has no knowledge of StackTech ever coming to them).
JR Ramos
Well, that was a surprising shoot-show. Toughbuilt withdrew their appeal and are delisted. Tomorrow, Friday, they will be allowed to trade in the pink for what’s left, and then into the forbidden “expert” market. Recent filings indicate a lady in Florida sunk about a million into shares when they were around $6 last week. She just lost her shirt, so hopefully she’s connected behind the scenes and isn’t really losing such a chunk of money…quite an investment to suddenly lose, though.
Monday’s market fall didn’t affect them too badly but today their stock dropped like a rock, sitting around $2 now after closing. They did state that they intend to come current on their delinquent reports, and if they do then they can remain in the pink on the QB market. That’s a bad place to be and I’ll bet anyone who invested or held on to shares is pretty pissed right now.
Didn’t see that withdrawal coming, based on such nice and forward-looking statements from the company. Honestly, sounds fishy to me or just blatantly incompetent at best. Perhaps some smoke and mirrors with the books (and the share dilutions…) finally became too clear to hide. We’ll see if they pull out of it or take the money and run….kinda hope they stick around and are really trying to make it work because the products were decent or great.
JR Ramos
.pdf on TB’s site….haven’t seen these shared on the various market sites yet:
https://ir.toughbuilt.com/all-sec-filings/content/0001213900-24-066541/0001213900-24-066541.pdf
Stuart
Thanks!
Nogs
Toughbuilt (Stacktech) screwed up signing an exclusive with Lowes. Lowes doesn’t possess the brain pan to manage this in demand product and it escapes me how a manufacturing company could be so naïve. Customers WILL find your product IF it is great so the quicker you produce EVERYTHING you PROMISED you would, and then make it readily available, the quicker your Company will BEGIN turning a profit.
Nogs
(NASDAQ:TBLT), a company specializing in cutlery, hand tools, and general hardware, is set to be delisted from the Nasdaq Capital Market. The Irvine, California-based manufacturer received notice from Nasdaq on August 7, 2024, that its common stock will be suspended from trading starting Friday, August 9, 2024.Aug 8, 2024