0001213900-22-071618 | 10-Q | XBRL Viewer

Print Document View Excel Document

Contingencies (Details) - USD ($)	Jul. 08, 2021	Oct. 02, 2018
Contingencies [Abstract]
Damages amount		$ 1,000,000
Damages claim	$ 700,000

Stockholders' Equity (Details) - USD ($)							1 Months Ended	3 Months Ended			9 Months Ended
Stockholders' Equity (Details) - USD ($)	Oct. 04, 2022	Apr. 11, 2022	Apr. 06, 2022	Jul. 30, 2021	Mar. 24, 2021	Jan. 11, 2021	Jan. 31, 2022	Dec. 31, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Stockholders' Equity (Details) [Line Items]
Shares issued	7,287
Shares issued of common stock for cashless exercise of stock options												5,122
Common stock shares issued									3,232,467		3,232,467		3,212,801
Aggregate of stock options		53,000	6,000	41,500	32,750	7,000	3,000
Common stock price per share (in Dollars per share)		$ 8.4	$ 8.4	$ 12.2	$ 13.9	$ 13.2	$ 8.5
Vest term		3 years	1 year		3 years	1 year	3 years
Common Stock [Member]
Stockholders' Equity (Details) [Line Items]
Shares issued									7,715	3,998	19,667	11,934
Director fees (in Dollars)									$ 54,000	$ 52,000	$ 162,000	$ 156,000
Minimum [Member]
Stockholders' Equity (Details) [Line Items]
Vest term				1 year
Maximum [Member]
Stockholders' Equity (Details) [Line Items]
Vest term				3 years
Third Quarter [Member]
Stockholders' Equity (Details) [Line Items]
Common stock shares issued								8,183
Directors fees totaling (in Dollars)								$ 54,000

Summary of Significant Accounting Policies (Details) - Schedule of basic and diluted earnings per share - Earnings (Loss) per share [Member] - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Summary of Significant Accounting Policies (Details) - Schedule of basic and diluted earnings per share [Line Items]
Weighted average shares outstanding used to compute basic earnings per share	3,232,467	3,207,405	3,224,912	3,202,287
Effect of dilutive stock options and warrants				$ 266,300
Effect of dilutive convertible notes payable				$ 405,789
Weighted average shares outstanding and dilutive securities used to compute dilutive earnings per share	3,232,467	3,207,405	3,224,912	3,874,376

Liability Related to the Sale of Future Proceeds from Disposition of Subsidiary (Details) - USD ($)		3 Months Ended		9 Months Ended
	Jan. 15, 2019	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Liability Related to Sale of Future Proceeds from Disposition of Subsidiary [Abstract]
Sale of subsidiary, description				In connection with the sale of the Company’s wholly-owned subsidiary, AMK Welding, Inc. (“AMK”) to Meyer Tool, Inc., (“Meyer”) in 2017, Meyer was obligated to pay the Company within 30 days after the end of each calendar quarter, commencing April 1, 2017, an amount equal to five (5%) percent of the net sales of AMK for that quarter until the aggregate payments made to the Company (the “Meyer Agreement”) equals $1,500,000 (the “Maximum Amount”).
Purchase agreement, description	In order to increase liquidity, on January 15, 2019, the Company entered into a “Purchase Agreement” with 15 accredited investors (the “Purchasers”), including Michael and Robert Taglich, pursuant to which the Company assigned to the Purchasers all of its rights, title and interest to the remaining $1,137,000 of the $1,500,000 in payments due from Meyer for the sale of AMK (the “Remaining Amount”) for an immediate payment of $800,000, including $100,000 from each of Michael and Robert Taglich, and $75,000 for the benefit of the children of Michael Taglich. The timing of the payments is based upon the net sales of AMK
Non-cash interest expense		$ 0	$ 24,000	$ 35,000	$ 82,000
Non-cash income		$ 0	$ 79,000	$ 94,000	$ 274,000

Condensed Consolidated Balance Sheets (Parentheticals) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for doubtful accounts (in Dollars)	$ 493,000	$ 594,000
Preferred stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	3,000,000	3,000,000
Preferred stock, shares outstanding	0	0
Common stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	6,000,000	6,000,000
Common stock, shares issued	3,232,467	3,212,801
Common stock, shares outstanding	3,232,467	3,212,801

Debt (Tables)

9 Months Ended

Sep. 30, 2022

Debt [Abstract]

Schedule of notes payable, related party notes payable and finance lease obligations

	September 30,			December 31,
	2022			2021
Revolving loan payable to Webster Bank (F/K/A Sterling National Bank) (“Webster”)	$	14,097,000		$	12,456,000
Term loan, Webster		4,691,000			4,192,000
Finance lease obligations		-			263,000
Loans Payable - financed assets		34,000			39,000
Related party subordinated notes payable		6,162,000			6,412,000
Subtotal		24,984,000			23,362,000
Less: Current portion		(14,820,000	)		(14,112,000	)
Long Term Portion	$	10,164,000		$	9,250,000

Schedule of payments due under the term loan

For the period ending	Amount
December 31, 2022 (remainder of the year)	$	178,000
December 31, 2023		714,000
December 31, 2024		714,000
December 31, 2025		3,156,000
Webster Term Loan payable		4,762,000
Less: debt issuance costs		(71,000	)
Total Webster Term Loan payable, net of debt issuance costs		4,691,000
Less: Current portion of Webster Term Loan payable		(714,000	)
Total long-term portion of Webster Term Loan payable	$	3,977,000

Schedule of future minimum loan payments

For the period ending	Amount
December 31, 2022 (remainder of the year)	$	2,000
December 31, 2023		9,000
December 31, 2024		9,000
December 31, 2025		9,000
December 31, 2026		4,000
Loans Payable - financed assets		33,000
Less: Current portion		(9,000	)
Long-term portion	$	24,000

Schedule of note holders and the principal balance

	Michael Taglich,		Robert Taglich,		Taglich Brothers,
	Chairman		Director		Inc.		Total
Convertible Subordinated Notes	$	2,666,000	$	1,905,000	$	241,000	$	4,812,000
Subordinated Notes		1,000,000		350,000		-		1,350,000
Total	$	3,666,000	$	2,255,000	$	241,000	$	6,162,000

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21506-112644

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69B
-URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69E
-URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21521-112644

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21538-112644

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21475-112644

+ Details

Debt (Details) - Schedule of future minimum loan payments - Loans Payable [Member]	Sep. 30, 2022 USD ($)
Debt (Details) - Schedule of future minimum loan payments [Line Items]
December 31, 2022 (remainder of the year)	$ 2,000
December 31, 2023	9,000
December 31, 2024	9,000
December 31, 2025	9,000
December 31, 2026	4,000
Loans Payable - financed assets	33,000
Less: Current portion	(9,000)
Long-term portion	$ 24,000

Leases (Details)	9 Months Ended
Leases (Details)	Sep. 30, 2022
Leases Disclosure Text Block [Abstract]
Operating lease term description	The leases have remaining lease terms of one to six years, some of which include options to extend or terminate the leases.
Remaining lease term	1 year

Subsequent Events

9 Months Ended

Sep. 30, 2022

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

Note 10. SUBSEQUENT EVENTS

Management has evaluated subsequent events through the date of this filing.

Formation and Basis of Presentation

9 Months Ended

Sep. 30, 2022

Accounting Policies [Abstract]

FORMATION AND BASIS OF PRESENTATION

Note 1. FORMATION AND BASIS OF PRESENTATION

Organization

Air Industries Group is a Nevada corporation (“AIRI”). As of September 30, 2022, and for the three and nine months ended September 30, 2022 and 2021, the accompanying condensed consolidated financial statements presented are those of AIRI, and its wholly-owned subsidiaries; Air Industries Machining Corp. (“AIM”), Nassau Tool Works, Inc. (“NTW”), and the Sterling Engineering Corporation (“Sterling”), (together, the “Company”).

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and with Rule 8-03 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the Securities and Exchange Commission, from which the accompanying condensed consolidated balance sheet dated December 31, 2021 was derived.

Effective with the Company’s first quarter ended March 31, 2022, the Company is presenting its operations as one reportable operating segment.

Historically the Company operated its businesses and reported its results as two separate segments with AIM and NTW comprising the Complex Machining segment (“CMS”) and Sterling as the Turbine & Engine Component segment (“TEC”). The CMS segment specialized in flight critical components including flight controls and landing gear. The TEC segment focused on manufacturing components for jet engines. Along with its operating subsidiaries, the Company reported the results of its corporate division as an independent segment.

In recent years the Company integrated and consolidated the business of AIM and NTW into one facility on Long Island and the operations of its CMS and TEC segments have become increasingly integrated. The Company also made significant capital expenditures and all of its operations now share the same manufacturing facilities and use most, if not all, of the same sales and marketing functions. The Company made these changes to take advantage of the long-term growth opportunities it sees in the aerospace and defense market. In early fiscal 2022, the Company further changed its management approach and is now making decisions about resources to be allocated and assesses performance based on one integrated business rather than two reporting segments. As such, effective with the first quarter ended March 31, 2022, the Company is presenting its operations as one reportable operating segment.

Reverse Stock Split

On October 4, 2022, the Company announced a reverse stock split of its authorized, issued and outstanding shares of common stock at a ratio of 1-for-10. The reverse stock split was effective on October 18, 2022, and its common stock began trading on a post-split-adjusted basis at that time. All share and per share amounts of its common stock presented have been retroactively adjusted to reflect the 1-for-10 reverse stock split. As result of the reverse stock split there were no fractional shares issued and all holders were rounded up to the next whole share. See Note 7 for more information.

Income Taxes

9 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

INCOME TAXES

Note 9. INCOME TAXES

The Company recorded no income tax expense for the three and nine months ended September 30, 2022 and 2021 because the estimated annual effective tax rate was zero. In determining the estimated annual effective income tax rate, the Company analyzes various factors, including projections of the Company’s annual earnings and taxing jurisdictions in which the earnings will be generated, the impact of state and local income taxes, the ability to use tax credits and net operating loss carry forwards, and available tax planning alternatives.

As of September 30, 2022, and December 31, 2021, the Company provided a full valuation allowance against its net deferred tax assets since the Company believes it is more likely than not that its deferred tax assets will not be realized.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Summary of Significant Accounting Policies (Details) - Schedule of revenue from contracts with customers - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Total	$ 13,278,000	$ 14,353,000	$ 39,348,000	$ 43,519,000
Military [Member]
Disaggregation of Revenue [Line Items]
Total	11,266,000	12,380,000	33,399,000	38,750,000
Commercial [Member]
Disaggregation of Revenue [Line Items]
Total	$ 2,012,000	$ 1,973,000	$ 5,949,000	$ 4,769,000

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income after deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References + Details

Property and Equipment (Details) - USD ($)	3 Months Ended		9 Months Ended
Property and Equipment (Details) - USD ($)	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Property and Equipment (Details) [Line Items]
Depreciation expense	$ 598,000	$ 688,000	$ 1,906,000	$ 2,105,000
Property, Plant and Equipment [Member]
Property and Equipment (Details) [Line Items]
Accumulated depreciation	$ 12,000		$ 12,000		$ 32,000

Debt (Details) - USD ($)			1 Months Ended		3 Months Ended		6 Months Ended	9 Months Ended		12 Months Ended
Debt (Details) - USD ($)	Dec. 07, 2021	Jan. 02, 2021	May 17, 2022	Apr. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 01, 2020	Dec. 31, 2019
Debt (Details) [Line Items]
Expires date								Dec. 30, 2025
Revolving loan													$ 20,000,000
Term loan													5,000,000
Capital expenditure line of credit			$ 2,000,000										$ 2,000,000
Outstanding under the revolving loan					$ 14,097,000			$ 14,097,000
Revolving loan								4,691,000
Webster revolving loan, description										As of December 31, 2021, our debt to Webster in the amount of $16,648,000 consisted of the Webster Revolving Loan in the amount of $12,456,000 and the Webster term loan in the amount of $4,192,000.
Interest expense					204,000	$ 181,000		$ 506,000	$ 542,000
Line of credit, description	the Company entered into the Third Amendment to the Webster Facility (“Third Amendment”). The purpose of the amendment was to provide a maturity date for the Webster Facility of December 30, 2025 as compared to the original maturity date of December 30, 2022. Such amendment also increased the Revolving Line of Credit to its current limit of $20,000,000 (up from the original $16,000,000) and also provided for a similar increase in the inventory sublimit to $14,000,000 (up from the original $11,000,000). The Third Amendment, also allows the Company, subject to certain limitations, to begin amortizing $250,000 of its related party subordinated notes payable each quarter as long as certain conditions are met. In connection with these changes, the Company paid an amendment fee of $75,000.		the Company entered into the Fourth Amendment to the Webster Facility (“Fourth Amendment”). The purpose of the amendment was to increase the Term Loan to $5,000,000, generating proceeds of $1,945,000, reduced the monthly principal installments to be made in respect to the term loan, and establish a capital expenditure line of credit in the amount of $2,000,000 which the Company can draw upon from time to time to finance purchases of machinery and equipment, thereby increasing the amount of capital expenditures that the Company may make each year. The principle payments are $59,524 per month commencing in June 2022 with a balloon payment due on December 30, 2025. In connection with these changes, the Company paid an amendment fee of $20,000.								In 2020, the Company entered into the First Amendment to the Webster Facility which increased the Term Loan to $5,685,000 and required the Company to make monthly principal installments in the amount of $67,679 beginning on December 1, 2020. Other minor modifications were made and the Company paid an amendment fee of $20,000.
Term loan			$ 5,000,000								$ 5,685,000
Principle payments			59,524									$ 67,679
Amendment fee	$ 75,000						$ 10,000				$ 20,000
Excess cash flow percentage							25.00%
Excess cash flow payments				$ 854,000						$ 558,750
Loan proceeds			1,945,000
Amendment fee paid			$ 20,000
Webster facility, description								Under the terms of the Webster Facility, both the Webster revolving line of credit and the Webster term loan will bear an interest rate equal to the greater of (i) 3.50% and (ii) a rate per annum equal to the rate per annum published from time to time in the “Money Rates” table of the Wall Street Journal (or such other presentation within The Wall Street Journal as may be adopted hereafter for such information) as the base or prime rate for corporate loans at the nation’s largest commercial bank, less sixty-five hundredths (-0.65%) of one percent per annum. The average interest rate charged was 4.70% and 3.50% for the three months ended September 30, 2022 and 2021, respectively and was 3.94% and 3.50% for the nine months ended September 30, 2022 and 2021, respectively.
Finance lease								$ 0		263,000
Interest rate								4.20%
Loan obligation					33,000			$ 33,000		$ 39,000
Number of directors								2
Related party notes payable, description								From 2016 through 2020, the Company entered into various subordinated notes payable and convertible subordinated notes payable with Michael and Robert Taglich. These notes resulted in proceeds to the Company totaling $6,550,000. In connection with these notes, Michael and Robert were issued a total of 35,508 shares of common stock and Taglich Brothers Inc. was issued promissory notes totaling $554,000 for placement agency fees. At December 31, 2020, related party notes payable totaled $6,012,000 and accrued interest totaled $400,000.
Related party convertible amount		$ 2,732,000
Subordinated debt paid								$ 250,000
Principal payment					250,000			250,000
Interest expense					$ 118,000	$ 126,000		$ 369,000	$ 376,000
Common Stock [Member]
Debt (Details) [Line Items]
Price per share (in Dollars per share)		$ 15
Related Party [Member]
Debt (Details) [Line Items]
Related party convertible amount		$ 2,080,000
Price per share (in Dollars per share)		$ 9.3
Webster Facility [Member]
Debt (Details) [Line Items]
Loan facility, description								In connection with the Webster Facility, the Company is required to maintain a defined Fixed Charge Coverage Ratio of 1.25 to 1.00 at the end of each Fiscal Quarter.

Income Taxes (Details)	3 Months Ended		9 Months Ended
Income Taxes (Details)	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Annual effective tax rate	0.00%	0.00%	0.00%	0.00%

Liability Related to the Sale of Future Proceeds from Disposition of Subsidiary (Details) - Schedule of activity within the liability account - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Schedule of Activity within the Liability Account [Abstract]
Liabilities related to sale of future proceeds from disposition of subsidiaries - beginning balance	$ 59,000	$ 322,000
Non-Cash other income recognized	(94,000)	(360,000)
Non-Cash interest expense recognized	35,000	97,000
Liabilities related to sale of future proceeds from disposition of subsidiary - ending balance		59,000
Less: unamortized transaction costs		(3,000)
Liability related to sale of future proceeds from disposition of subsidiary, net		$ 56,000

Summary of Significant Accounting Policies (Details) - Schedule of inventories - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Schedule Of Inventories Abstract
Raw Materials	$ 4,163,000	$ 3,410,000
Work In Progress	22,329,000	20,926,000
Finished Goods	9,677,000	8,350,000
Reserve	(2,761,000)	(3,154,000)
Total Inventory	$ 33,408,000	$ 29,532,000

Summary of Significant Accounting Policies (Details) - Schedule of exercise price was greater and less than the average market price - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Maximum [Member]
Summary of Significant Accounting Policies (Details) - Schedule of exercise price was greater and less than the average market price [Line Items]
Stock Options	$ 305,350	$ 118,000	$ 305,350	$ 16,000
Warrants	76,000	183,000	76,000	142,000
Total	381,350	301,000	381,350	158,000
Minimum [Member] \| Antidilutive Securities [Member]
Summary of Significant Accounting Policies (Details) - Schedule of exercise price was greater and less than the average market price [Line Items]
Stock Options		133,000
Convertible notes payable	405,810	509,000	405,810	509,000
Total	$ 405,810	$ 642,000	$ 405,810

Leases (Tables)

9 Months Ended

Sep. 30, 2022

Leases Disclosure Text Block [Abstract]

Schedule of operating and finance leases

	September 30,			December 31,
	2022			2021
Weighted Average Remaining Lease Term - in years		3.91			4.53
Weighted Average discount rate - %		8.97	%		8.89	%

Schedule of operating lease payments for leases with remaining terms

	Amount
December 31, 2022 (remainder of year)	$	257,000
December 31, 2023		1,038,000
December 31, 2024		1,070,000
December 31, 2025		992,000
December 31, 2026		729,000
Total future minimum lease payments		4,086,000
Less: discount		(663,000	)
Total operating lease maturities		3,423,000
Less: current portion of operating lease liabilities		(754,000	)
Total long term portion of operating lease maturities	$	2,669,000

Liability Related to the Sale of Future Proceeds from Disposition of Subsidiary

9 Months Ended

Sep. 30, 2022

NOTE 6. LIABILITY RELATED TO THE SALE OF FUTURE PROCEEDS FROM DISPOSITION OF SUBSIDIARY

In connection with the sale of the Company’s wholly-owned subsidiary, AMK Welding, Inc. (“AMK”) to Meyer Tool, Inc., (“Meyer”) in 2017, Meyer was obligated to pay the Company within 30 days after the end of each calendar quarter, commencing April 1, 2017, an amount equal to five (5%) percent of the net sales of AMK for that quarter until the aggregate payments made to the Company (the “Meyer Agreement”) equals $1,500,000 (the “Maximum Amount”).

In order to increase liquidity, on January 15, 2019, the Company entered into a “Purchase Agreement” with 15 accredited investors (the “Purchasers”), including Michael and Robert Taglich, pursuant to which the Company assigned to the Purchasers all of its rights, title and interest to the remaining $1,137,000 of the $1,500,000 in payments due from Meyer for the sale of AMK (the “Remaining Amount”) for an immediate payment of $800,000, including $100,000 from each of Michael and Robert Taglich, and $75,000 for the benefit of the children of Michael Taglich. The timing of the payments is based upon the net sales of AMK.

The Company recognized $0 and $79,000 of non-cash income for the three months ended September 30, 2022 and 2021, respectively, and $94,000 and $274,000 of non-cash income for the nine months ended September 30, 2022 and 2021, respectively, reflected in “other income, net” on the condensed consolidated statements of operations and recorded $0 and $24,000 of related non-cash interest expense related to the Purchase Agreement for the three months ended September 30, 2022 and 2021, respectively, and $35,000 and $82,000 for the nine months ended September 30, 2022 and 2021, respectively.

The table below shows the activity within the liability account for:

	September 30, 2022			December 31, 2021
Liabilities related to sale of future proceeds from disposition of subsidiaries - beginning balance	$	59,000		$	322,000
Non-Cash other income recognized		(94,000	)		(360,000	)
Non-Cash interest expense recognized		35,000			97,000
Liabilities related to sale of future proceeds from disposition of subsidiary - ending balance		-			59,000
Less: unamortized transaction costs		-			(3,000	)
Liability related to sale of future proceeds from disposition of subsidiary, net	$	-		$	56,000

Leases (Details) - Schedule of operating and finance leases	Sep. 30, 2022	Dec. 31, 2021
Schedule of Operating and Finance Leases [Abstract]
Weighted Average Remaining Lease Term - in years	3 years 10 months 28 days	4 years 6 months 10 days
Weighted Average discount rate - %	8.97%	8.89%

Summary of Significant Accounting Policies (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Summary of Significant Accounting Policies (Details) [Line Items]
Concentration risk percentage			10.00%
Customer deposits	$ 1,291,000		$ 1,291,000		$ 1,470,000
Revenue recognized	73,000	$ 132,000	$ 126,000	$ 507,000
Backlog represents executed non-cancellable contracts, description			Backlog Backlog represents executed non-cancellable contracts that represent firm orders that are deliverable over the next 18- month period. As of September 30, 2022, backlog relating to remaining performance obligations in contracts was approximately $65,000,000. We expect to recognize revenue amounts in future periods related to these remaining performance obligations as follows: approximately $13,000,000 to $15,000,000 of our backlog during the remainder of 2022, approximately $25,000,000 to $30,000,000 from January 1, 2023 - June 30, 2023, and approximately $11,000,000 to $15,000,000 from July 1, 2023 through December 31, 2023. This expectation assumes that raw material suppliers, and that outsourced processing is completed and delivered on-time and that its customers will accept delivery as scheduled. The Company anticipates that sales during the aforementioned periods will also include sales pursuant to contracts that are not currently in backlog.
Stock based compensation expense	55,000	$ 147,000	$ 262,000	$ 361,000
Goodwill	$ 163,000		$ 163,000		$ 163,000
Two Customers [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Concentration risk percentage	63.90%	67.70%
Three Customers [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Concentration risk percentage			68.90%	75.50%
Accounts Receivable [Member] \| Two Customers [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Concentration risk percentage			70.20%
Accounts Receivable [Member] \| Three Customers [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Concentration risk percentage					74.70%
Director [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Stock based compensation expense	$ 54,000	$ 52,000	$ 162,000	$ 156,000

Summary of Significant Accounting Policies (Details) - Schedule of credit and concentration risks

3 Months Ended

9 Months Ended

12 Months Ended

Sep. 30, 2022

Sep. 30, 2021

Sep. 30, 2022

Sep. 30, 2021

Dec. 31, 2021

Receivables [Member] | Customer One [Member]

Concentration Risk [Line Items]

Credit and Concentration Risks

58.10%

50.30%

Receivables [Member] | Customers Two [Member]

Concentration Risk [Line Items]

Credit and Concentration Risks

12.10%

12.70%

Receivables [Member] | Customers Three [Member]

Concentration Risk [Line Items]

Credit and Concentration Risks

^[1]

11.70%

Sales [Member] | Customer One [Member]

Concentration Risk [Line Items]

Credit and Concentration Risks

40.70%

41.60%

32.50%

36.80%

Sales [Member] | Customers Two [Member]

Concentration Risk [Line Items]

Credit and Concentration Risks

23.20%

26.10%

19.50%

26.20%

Sales [Member] | Customers Three [Member]

Concentration Risk [Line Items]

Credit and Concentration Risks

16.90%

12.50%

[1]	Customer was less than 10% of accounts receivable at September 30, 2022.

Formation and Basis of Presentation (Details)	3 Months Ended	9 Months Ended
Formation and Basis of Presentation (Details)	Mar. 31, 2022	Sep. 30, 2022
Accounting Policies [Abstract]
Operating segment	1	1
Reporting segments	1	1

Property and Equipment (Tables)

9 Months Ended

Sep. 30, 2022

Property, Plant and Equipment [Abstract]

Schedule of property and equipment

	September 30,			December 31,
	2022			2021
Land	$	300,000		$	300,000
Buildings and Improvements		1,945,000			1,723,000
Machinery and Equipment		23,055,000			22,013,000
Finance Lease Machinery and Equipment		375,000			375,000
Tools and Instruments		13,495,000			12,866,000
Automotive Equipment		266,000			200,000
Furniture and Fixtures		290,000			290,000
Leasehold Improvements		882,000			882,000
Computers and Software		604,000			583,000
Total Property and Equipment		41,212,000			39,232,000
Less: Accumulated Depreciation		(32,734,000	)		(30,828,000	)
Property and Equipment, net	$	8,478,000		$	8,404,000

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Current Assets
Cash	$ 192,000	$ 627,000
Accounts Receivable, Net of Allowance for Doubtful Accounts of $493,000 and $594,000	8,658,000	10,473,000
Inventory	33,408,000	29,532,000
Prepaid Expenses and Other Current Assets	250,000	226,000
Prepaid Taxes	25,000	22,000
Total Current Assets	42,533,000	40,880,000
Property and Equipment, Net	8,478,000	8,404,000
Operating Lease Right-Of-Use-Asset	2,615,000	3,018,000
Deferred Financing Costs, Net, Deposits and Other Assets	989,000	960,000
Goodwill	163,000	163,000
TOTAL ASSETS	54,778,000	53,425,000
Current Liabilities
Debt - Current Portion	14,820,000	14,112,000
Accounts Payable and Accrued Expenses	6,979,000	6,723,000
Operating Lease Liabilities - Current Portion	754,000	686,000
Deferred Gain on Sale - Current Portion	38,000	38,000
Customer Deposits	1,291,000	1,470,000
Liability Related to the Sale of Future Proceeds from Disposition of Subsidiary		59,000
Deferred payroll tax liability - CARES Act	314,000	314,000
Total Current Liabilities	24,196,000	23,402,000
Long Term Liabilities
Debt - Net of Current Portion	4,001,000	2,838,000
Subordinated Notes Payable - Related Parties	6,162,000	6,412,000
Operating Lease Liabilities - Net of Current Portion	2,669,000	3,241,000
Deferred Gain on Sale - Net of Current Portion	114,000	143,000
TOTAL LIABILITIES	37,142,000	36,036,000
Commitments and Contingencies (Notes 4 and 8)
Stockholders’ Equity
Preferred Stock, par value $.001 - Authorized 3,000,000 shares, 0 shares outstanding, at both September 30, 2022 and December 31, 2021.
Common Stock - Par Value $.001 - Authorized 6,000,000 Shares, 3,232,467 and 3,212,801 Shares Issued and Outstanding as of September 30, 2022 and December 31, 2021, respectively	3,000	3,000
Additional Paid-In Capital	82,344,000	81,920,000
Accumulated Deficit	(64,711,000)	(64,534,000)
TOTAL STOCKHOLDERS’ EQUITY	17,636,000	17,389,000
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 54,778,000	$ 53,425,000

Contingencies

9 Months Ended

Sep. 30, 2022

Contingencies [Abstract]

CONTINGENCIES

Note 8. CONTINGENCIES

A number of actions have been commenced against the Company by vendors, landlords and former landlords, including a third party claim as a result of an injury suffered on a portion of a leased property not occupied by the Company. As certain of these claims represent amounts included in accounts payable they are not specifically discussed herein.

On October 2, 2018, Contract Pharmacal Corp. (“Contract Pharmacal”) commenced an action, relating to a Sublease entered into between the Company and Contract Pharmacal in May 2018 with respect to the property that was formerly occupied by the Company’s former subsidiary WMI, at 110 Plant Avenue, Hauppauge, New York. In the action Contract Pharmacal sought damages for an amount in excess of $1,000,000 for the Company’s failure to make the entire premises available by the Sublease commencement date. On July 8, 2021, the Court denied Contract Phamacal’s motion for summary judgement. In the Order, the court granted Contract Pharmacal’s Motions to drop its claim for specific performance and to amend its Complaint to reduce its claim for damages to $700,000. Contract Pharmacal filed a Motion to reargue which the Court denied on November 30, 2021. On March 10, 2022, Contract Pharmacal filed an appeal to the Court’s decision with the Appellate Division which the Company will oppose. The Company disputes the validity of the claims asserted by Contract Pharmacal and intends contest them vigorously.

- Definition

The entire disclosure for loss and gain contingencies. Describes any existing condition, situation, or set of circumstances involving uncertainty as of the balance sheet date (or prior to issuance of the financial statements) as to a probable or reasonably possible loss incurred by an entity that will ultimately be resolved when one or more future events occur or fail to occur, and typically discloses the amount of loss recorded or a range of possible loss, or an assertion that no reasonable estimate can be made.

+ References + Details

Liability Related to the Sale of Future Proceeds from Disposition of Subsidiary (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of activity within the liability account

	September 30, 2022			December 31, 2021
Liabilities related to sale of future proceeds from disposition of subsidiaries - beginning balance	$	59,000		$	322,000
Non-Cash other income recognized		(94,000	)		(360,000	)
Non-Cash interest expense recognized		35,000			97,000
Liabilities related to sale of future proceeds from disposition of subsidiary - ending balance		-			59,000
Less: unamortized transaction costs		-			(3,000	)
Liability related to sale of future proceeds from disposition of subsidiary, net	$	-		$	56,000

Summary of Significant Accounting Policies (Details) - Schedule of net income (loss) applicable to common stockholders - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Schedule Of Net Income Loss Applicable To Common Stockholders Abstract
(Loss) Income - Basic	$ (142,000)	$ (66,000)	$ (177,000)	$ 21,000
Add: Convertible Note Interest for Potential Note Conversion				232,000
(Loss) Income used to calculate diluted earnings per share	$ (142,000)	$ (66,000)	$ (177,000)	$ 253,000

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1448-109256

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 11
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1377-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

+ Details

Debt (Details) - Schedule of notes payable, related party notes payable and finance lease obligations - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Schedule of Notes Payable Related Party Notes Payable and Finance Lease Obligations [Abstract]
Revolving loan payable to Webster Bank (F/K/A Sterling National Bank) (“Webster”)	$ 14,097,000	$ 12,456,000
Term loan, Webster	4,691,000	4,192,000
Finance lease obligations		263,000
Loans Payable - financed assets	34,000	39,000
Related party subordinated notes payable	6,162,000	6,412,000
Subtotal	24,984,000	23,362,000
Less: Current portion	(14,820,000)	(14,112,000)
Long Term Portion	$ 10,164,000	$ 9,250,000

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2022	Nov. 08, 2022
Document Information Line Items
Entity Registrant Name	AIR INDUSTRIES GROUP
Trading Symbol	AIRI
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		3,247,937
Amendment Flag	false
Entity Central Index Key	0001009891
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-35927
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	80-0948413
Entity Address, Address Line One	1460 Fifth Avenue
Entity Address, Address Line Two	Bay Shore
Entity Address, State or Province	NY
Entity Address, City or Town	New York
Entity Address, Postal Zip Code	11706
City Area Code	(631)
Local Phone Number	968-5000
Title of 12(b) Security	Common Stock
Security Exchange Name	NYSEAMER
Entity Interactive Data Current	Yes

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net Sales	$ 13,278,000	$ 14,354,000	$ 39,348,000	$ 43,519,000
Cost of Sales	11,036,000	12,340,000	32,606,000	37,105,000
Gross Profit	2,242,000	2,014,000	6,742,000	6,414,000
Operating Expenses	2,073,000	1,837,000	6,116,000	5,770,000
Income from Operations	169,000	177,000	626,000	644,000
Interest and Financing Costs	(205,000)	(205,000)	(566,000)	(585,000)
Interest Expense - Related Parties	(118,000)	(126,000)	(369,000)	(376,000)
Other Income, Net	12,000	88,000	132,000	338,000
(Loss) Income before Provision for Income Taxes	(142,000)	(66,000)	(177,000)	21,000
Provision for Income Taxes
Net (Loss) Income	$ (142,000)	$ (66,000)	$ (177,000)	$ 21,000
(Loss) Income per share - Basic (in Dollars per share)	$ (0.04)	$ (0.02)	$ (0.05)	$ 0.01
(Loss) Income per share - Diluted (in Dollars per share)	$ (0.04)	$ (0.02)	$ (0.05)	$ 0.01
Weighted Average Shares Outstanding - basic (in Shares)	3,232,467	3,207,405	3,224,912	3,202,287
Weighted Average Shares Outstanding - diluted (in Shares)	3,232,467	3,207,405	3,224,912	3,874,377

Debt (Details) - Schedule of payments due under the term loan - Term Loans [Member]	Sep. 30, 2022 USD ($)
Debt Instrument [Line Items]
December 31, 2022 (remainder of the year)	$ 178,000
December 31, 2023	714,000
December 31, 2024	714,000
December 31, 2025	3,156,000
Webster Term Loan payable	4,762,000
Less: debt issuance costs	(71,000)
Total Webster Term Loan payable, net of debt issuance costs	4,691,000
Less: Current portion of Webster Term Loan payable	(714,000)
Total long-term portion of Webster Term Loan payable	$ 3,977,000

Leases

9 Months Ended

Sep. 30, 2022

Leases Disclosure [Abstract]

LEASES

Note 4. LEASES

The Company has operating and finance leases for leased office and manufacturing facilities and equipment leases. The Company leases certain machinery and equipment under finance leases and leases its offices and manufacturing facilities under operating leases. The leases have remaining lease terms of one to six years, some of which include options to extend or terminate the leases.

	September 30,			December 31,
	2022			2021
Weighted Average Remaining Lease Term - in years		3.91			4.53
Weighted Average discount rate - %		8.97	%		8.89	%

The aggregate undiscounted cash flows of operating lease payments for leases with remaining terms greater than one year are as follows:

	Amount
December 31, 2022 (remainder of year)	$	257,000
December 31, 2023		1,038,000
December 31, 2024		1,070,000
December 31, 2025		992,000
December 31, 2026		729,000
Total future minimum lease payments		4,086,000
Less: discount		(663,000	)
Total operating lease maturities		3,423,000
Less: current portion of operating lease liabilities		(754,000	)
Total long term portion of operating lease maturities	$	2,669,000

Property and Equipment

9 Months Ended

Sep. 30, 2022

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

Note 3. PROPERTY AND EQUIPMENT

The components of property and equipment at September 30, 2022 and December 31, 2021 consisted of the following:

	September 30,			December 31,
	2022			2021
Land	$	300,000		$	300,000
Buildings and Improvements		1,945,000			1,723,000
Machinery and Equipment		23,055,000			22,013,000
Finance Lease Machinery and Equipment		375,000			375,000
Tools and Instruments		13,495,000			12,866,000
Automotive Equipment		266,000			200,000
Furniture and Fixtures		290,000			290,000
Leasehold Improvements		882,000			882,000
Computers and Software		604,000			583,000
Total Property and Equipment		41,212,000			39,232,000
Less: Accumulated Depreciation		(32,734,000	)		(30,828,000	)
Property and Equipment, net	$	8,478,000		$	8,404,000

Depreciation expense for the three months ended September 30, 2022 and 2021 was $598,000 and $688,000, respectively. Depreciation expense for the nine months ended September 30, 2022 and 2021 was $1,906,000 and $2,105,000, respectively.

Assets held under financed lease obligations are depreciated over the shorter of their related lease terms or their estimated productive lives. Depreciation of assets under finance leases is included in depreciation expense for 2022 and 2021. Accumulated depreciation on these assets was approximately $12,000 and $32,000 as of September 30, 2022 and December 31, 2021, respectively.

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2022

Summary of Significant Accounting Policies [Abstract]

Schedule of inventories

	September 30,			December 31,
	2022			2021
Raw Materials	$	4,163,000		$	3,410,000
Work In Progress		22,329,000			20,926,000
Finished Goods		9,677,000			8,350,000
Reserve		(2,761,000	)		(3,154,000	)
Total Inventory	$	33,408,000		$	29,532,000

Schedule of credit and concentration risks

Customer	Percentage of Sales
	September 30, 2022			September 30, 2021
1		40.7	%		41.6	%
2		23.2	%		26.1	%

Customer	Percentage of Sales
	September 30, 2022			September 30, 2021
1		32.5	%		36.8	%
2		19.5	%		26.2	%
3		16.9	%		12.5	%

Customer	Percentage of Receivables
	September 30,			December 31,
	2022			2021
1		58.1	%		50.3	%
2		12.1	%		12.7	%
3		*			11.7	%

●

Customer was less than 10% of accounts receivable at September 30, 2022.

Schedule of revenue from contracts with customers

	Three Months Ended				Nine Months Ended
Product	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Military	$	11,266,000	$	12,380,000	$	33,399,000	$	38,750,000
Commercial		2,012,000		1,973,000		5,949,000		4,769,000

Total	$	13,278,000	$	14,353,000	$	39,348,000	$	43,519,000

Schedule of net income (loss) applicable to common stockholders

	Three Months Ended						Nine Months Ended
	September 30, 2022			September 30, 2021			September 30, 2022			September 30, 2021
(Loss) Income - Basic	$	(142,000	)	$	(66,000	)	$	(177,000	)	$	21,000
Add: Convertible Note Interest for Potential Note Conversion		-			-			-			232,000

(Loss) Income used to calculate diluted earnings per share	$	(142,000	)	$	(66,000	)	$	(177,000	)	$	253,000

Schedule of basic and diluted earnings per share

	Three Months Ended				Nine Months Ended
	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Weighted average shares outstanding used to compute basic earnings per share		3,232,467		3,207,405		3,224,912		3,202,287
Effect of dilutive stock options and warrants		-		-		-		266,300
Effect of dilutive convertible notes payable		-		-		-		405,789
Weighted average shares outstanding and dilutive securities used to compute dilutive earnings per share		3,232,467		3,207,405		3,224,912		3,874,376

Schedule of exercise price was greater than the average market price

	Three Months Ended				Nine Months Ended
	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Stock Options		305,350		118,000		305,350		16,000
Warrants		76,000		183,000		76,000		142,000
		381,350		301,000		381,350		158,000

	Three Months Ended				Nine Months Ended
	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Stock Options		-		133,000		-		-
Convertible notes payable		405,810		509,000		405,810		-
		405,810		642,000		405,810		-

Debt (Details) - Schedule of note holders and the principal balance	Sep. 30, 2022 USD ($)
Debt (Details) - Schedule of note holders and the principal balance [Line Items]
Convertible Subordinated Notes	$ 4,812,000
Subordinated Notes	1,350,000
Total	6,162,000
Michael Taglich, Chairman [Member]
Debt (Details) - Schedule of note holders and the principal balance [Line Items]
Convertible Subordinated Notes	2,666,000
Subordinated Notes	1,000,000
Total	3,666,000
Robert Taglich, Director [Member]
Debt (Details) - Schedule of note holders and the principal balance [Line Items]
Convertible Subordinated Notes	1,905,000
Subordinated Notes	350,000
Total	2,255,000
Taglich Brothers, Inc. [Member]
Debt (Details) - Schedule of note holders and the principal balance [Line Items]
Convertible Subordinated Notes	241,000
Subordinated Notes
Total	$ 241,000

Stockholders' Equity

9 Months Ended

Sep. 30, 2022

Stockholders' Equity [Abstract]

STOCKHOLDERS' EQUITY

Note 7. STOCKHOLDERS’ EQUITY

On October 4, 2022 the Company announced a reverse stock split of its authorized, issued and outstanding shares of common stock at a ratio of 1-for-10. The reverse stock split was effective on October 18, 2022, and its common stock began trading on a post-split-adjusted basis at that time. As result of the reverse stock split there were no fractional shares issued and all holders were rounded up to the next whole share. An additional 7,287 shares were issued to account for this. As such all references to shares and per share price has been adjusted to retrospectively account for this transaction.

Common Stock – Sale of Securities

The Company issued 7,715 and 3,998 shares of common stock in payment of director fees totaling $54,000 and $52,000 for the three months ended September 30, 2022 and 2021, respectively, and 19,667 and 11,934 shares totaling $162,000 and $156,000 for the nine months ended September 30, 2022 and 2021, respectively. Additionally, the Company issued 5,122 shares of common stock upon the cashless exercise of stock options during the nine months ended September 30, 2021.

During the fourth quarter of 2022, the Company issued 8,183 shares of common stock in payment of directors’ fees totaling $54,000.

Issuance of Stock Options

Issued in 2022

On January 31, 2022, the Company granted certain employees, stock options to purchase an aggregate of 3,000 shares of the Company’s common stock at a price of $8.50 per share. The options expire on the fifth anniversary of the grant date and vest over a term of three years.

On April 6, 2022, the Company granted to its directors, stock options to purchase an aggregate of 6,000 shares of the Company’s common stock at a price of $8.40 per share. The options expire on the fifth anniversary of the grant date and vest over a term of one year.

On April 11, 2022, the Company granted to certain members of management and certain employees, stock options to purchase an aggregate of 53,000 shares of the Company’s common stock at a price of $8.40 per share. The options expire on the fifth anniversary of the grant date and vest over a term of three years.

Issued in 2021

On January 11, 2021, the Company granted to its directors, stock options to purchase an aggregate of 7,000 shares of the Company’s common stock at a price of $13.20 per share. The options expire on the seventh anniversary of the grant date and vested over a term of one year.

On March 24, 2021, the Company granted to certain members of management and certain employees, stock options to purchase an aggregate of 32,750 shares of the Company’s common stock at a price of $13.90 per share. The options expire on the fifth anniversary of the grant date and vest over a term of three years.

On July 30, 2021, the Company granted to certain members of management and certain employees, stock options to purchase an aggregate of 41,500 shares of the Company’s common stock at a price of $12.20 per share. The options expire on the fifth anniversary of the grant date and vest over a term of one to three years.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI https://asc.fasb.org/topic&trid=2208762

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 16
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 50
-Paragraph 6
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008

+ Details

Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2022

Disclosure of Summary of Significant Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Note 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Inventory Valuation

For annual periods, the Company values inventory at the lower of cost on a first-in-first-out basis or estimated net realizable value. The Company does not take physical inventories at interim quarterly reporting periods. For interim periods, substantially all of the inventory value has been estimated using a gross profit percentage based on the annual gross profit percentage of the immediately preceding year as applied to the net sales of the current period. Adjustments to reconcile the annual physical inventory to the Company’s books are recorded in the fourth quarter.

Inventories consist of the following at:

	September 30,			December 31,
	2022			2021
Raw Materials	$	4,163,000		$	3,410,000
Work In Progress		22,329,000			20,926,000
Finished Goods		9,677,000			8,350,000
Reserve		(2,761,000	)		(3,154,000	)
Total Inventory	$	33,408,000		$	29,532,000

Credit and Concentration Risks

There were two customers that represented 63.9% and 67.7% of total net sales for the three months ended September 30, 2022 and 2021, respectively. This is set forth in the table below.

Customer	Percentage of Sales
	September 30, 2022			September 30, 2021
1		40.7	%		41.6	%
2		23.2	%		26.1	%

There were three customers that represented 68.9% and 75.5% of total sales for the nine months ended September 30, 2022 and 2021, respectively. This is set forth in the table below.

Customer	Percentage of Sales
	September 30, 2022			September 30, 2021
1		32.5	%		36.8	%
2		19.5	%		26.2	%
3		16.9	%		12.5	%

There were two customers that represented 70.2% and three customers that represented 74.7% of gross accounts receivable at September 30, 2022 and December 31, 2021, respectively. This is set forth in the table below.

Customer	Percentage of Receivables
	September 30,			December 31,
	2022			2021
1		58.1	%		50.3	%
2		12.1	%		12.7	%
3		*			11.7	%

●

Customer was less than 10% of accounts receivable at September 30, 2022.

Disaggregation of Revenue

The following table summarizes revenue from contracts with customers for the three and nine month periods ending September 30, 2022 and 2021:

	Three Months Ended				Nine Months Ended
Product	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Military	$	11,266,000	$	12,380,000	$	33,399,000	$	38,750,000
Commercial		2,012,000		1,973,000		5,949,000		4,769,000

Total	$	13,278,000	$	14,353,000	$	39,348,000	$	43,519,000

Concentration of Credit Risk

During the period, the Company had occasionally maintained balances in its bank accounts that were in excess of the FDIC insurance limit. The Company has not experienced any losses on these accounts.

Major Suppliers

The Company has several key sole-source suppliers of various parts that are important for one or more of its products. These suppliers are its only source for such parts and, therefore, in the event any of them were to go out of business or be unable to provide parts for any reason, its business could be severely harmed.

Customer Deposits

The Company receives advance payments on certain contracts with the remainder of the contract balance due upon the shipment of the final product once the customer inspects and approves the product for shipment. At that time, the entire amount will be recognized as revenue and the deposit will be applied to the customer’s invoice.

At September 30, 2022 and December 31, 2021, customer deposits were $1,291,000 and $1,470,000 respectively. The Company recognized revenue of $73,000 and $126,000 during the three and nine months ended September 30, 2022, respectively, that was included in the customer deposits balance as of December 31, 2021. The Company recognized revenue of $132,000 and $507,000 during the three and nine months ended September 30, 2021, respectively, that was included in the customer deposits balance as of December 31, 2020.

Backlog

Backlog represents executed non-cancellable contracts that represent firm orders that are deliverable over the next 18- month period. As of September 30, 2022, backlog relating to remaining performance obligations in contracts was approximately $65,000,000. We expect to recognize revenue amounts in future periods related to these remaining performance obligations as follows: approximately $13,000,000 to $15,000,000 of our backlog during the remainder of 2022, approximately $25,000,000 to $30,000,000 from January 1, 2023 - June 30, 2023, and approximately $11,000,000 to $15,000,000 from July 1, 2023 through December 31, 2023. This expectation assumes that raw material suppliers, and that outsourced processing is completed and delivered on-time and that its customers will accept delivery as scheduled. The Company anticipates that sales during the aforementioned periods will also include sales pursuant to contracts that are not currently in backlog.

Leases

The Company accounts for leases under ASC 842, “Leases.” All leases are required to be recorded on the balance sheet and are classified as either operating leases or finance leases. The lease classification affects the expense recognition in the income statement. Operating lease charges are recorded entirely in operating expenses. Finance lease charges are split, where amortization of the right-of- use asset is recorded in operating expenses and an implied interest component is recorded in interest expense. See Note 4.

Earnings (Loss) per share

Basic earnings (loss) per share (“EPS”) is computed by dividing the net income (loss) applicable to common stockholders by the weighted-average number of shares of common stock outstanding for the period.

For purposes of calculating diluted earnings per common share, the numerator includes net income plus interest on convertible notes payable assumed converted as of the first day of the period. The denominator includes both the weighted-average number of shares of common stock outstanding during the period and the number of common stock equivalents if the inclusion of such common stock equivalents is dilutive. Dilutive common stock equivalents potentially include stock options and warrants using the treasury stock method and convertible notes payable using the if-converted method.

The following is the calculation of net (loss) income applicable to common stockholders utilized to calculate the EPS:

	Three Months Ended						Nine Months Ended
	September 30, 2022			September 30, 2021			September 30, 2022			September 30, 2021
(Loss) Income - Basic	$	(142,000	)	$	(66,000	)	$	(177,000	)	$	21,000
Add: Convertible Note Interest for Potential Note Conversion		-			-			-			232,000

(Loss) Income used to calculate diluted earnings per share	$	(142,000	)	$	(66,000	)	$	(177,000	)	$	253,000

The following is a reconciliation of the denominators of basic and diluted earnings per share computations:

	Three Months Ended				Nine Months Ended
	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Weighted average shares outstanding used to compute basic earnings per share		3,232,467		3,207,405		3,224,912		3,202,287
Effect of dilutive stock options and warrants		-		-		-		266,300
Effect of dilutive convertible notes payable		-		-		-		405,789
Weighted average shares outstanding and dilutive securities used to compute dilutive earnings per share		3,232,467		3,207,405		3,224,912		3,874,376

The following securities have been excluded from the calculation as the exercise price was greater than the average market price of the common shares:

	Three Months Ended				Nine Months Ended
	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Stock Options		305,350		118,000		305,350		16,000
Warrants		76,000		183,000		76,000		142,000
		381,350		301,000		381,350		158,000

The following securities have been excluded from the calculation even though the exercise price was less than the average market price of the common shares during the periods set forth below because the effect of including these potential shares was anti-dilutive due to the net loss incurred during these periods:

	Three Months Ended				Nine Months Ended
	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Stock Options		-		133,000		-		-
Convertible notes payable		405,810		509,000		405,810		-
		405,810		642,000		405,810		-

Stock-Based Compensation

The Company accounts for stock-based compensation in accordance with FASB ASC 718, “Compensation – Stock Compensation.” Under the fair value recognition provision of the ASC, stock-based compensation cost is estimated at the grant date based on the fair value of the award. The Company estimates the fair value of stock options and warrants granted using the Black-Scholes-Merton option pricing model. Stock based compensation expense for employees amounted to $55,000 and $147,000 for the three months ended September 30, 2022 and 2021, respectively, and $262,000 and $361,000 for the nine months ended September 30, 2022 and 2021, respectively. Stock compensation expense for directors amounted to $54,000 and $52,000 for the three months ended September 30, 2022 and 2021, respectively and $162,000 and $156,000 for the nine months ended September 30, 2022 and 2021, respectively. Stock compensation expense for employees and directors was included in operating expenses on the accompanying Condensed Consolidated Statements of Operations.

Goodwill

Goodwill represents the excess of the acquisition cost of businesses over the fair value of the identifiable net assets acquired. The goodwill amount of $163,000 at both September 30, 2022 and December 31, 2021 relates to the acquisition of NTW.

Goodwill is not amortized, but is tested at least annually for impairment, or if circumstances occur that more likely than not reduce the fair value of the reporting unit below its carrying amount.

Recently Issued Accounting Pronouncements

Effective January 1, 2022, the Company adopted ASU No. 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2020-06), which is intended to address issues identified as a result of the complexity associated with applying accounting principles generally accepted in the United States of America for certain financial instruments with characteristics of liabilities and equity. For convertible instruments, ASU 2020-06 reduces the number of accounting models for convertible debt instruments and convertible preferred stock, and enhances information transparency by making targeted improvements to the disclosures for convertible instruments and earnings-per-share guidance on the basis of feedback from financial statement users. The adoption of ASU 2020-06 did not have a material effect on the Company’s financial statements.

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326) (“ASU 2016-13”), which significantly changes how entities will account for credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. ASU 2016-13 replaces the existing incurred loss model with an expected credit loss model that requires entities to estimate an expected lifetime credit loss on most financial assets and certain other instruments. Under ASU 2016-13 credit impairment is recognized as an allowance for credit losses, rather than as a direct write-down of the amortized cost basis of a financial asset. The impairment allowance is a valuation account deducted from the amortized cost basis of financial assets to present the net amount expected to be collected on the financial asset. Once the new pronouncement is adopted by the Company, the allowance for credit losses must be adjusted for management’s current estimate at each reporting date. The new guidance provides no threshold for recognition of impairment allowance. Therefore, entities must also measure expected credit losses on assets that have a low risk of loss. For instance, trade receivables that are either current or not yet due may not require an allowance reserve under currently generally accepted accounting principles, but under the new standard, the Company will have to estimate an allowance for expected credit losses on trade receivables under ASU 2016-13. ASU 2016-13 is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2022 for smaller reporting companies. The Company is currently assessing the impact ASU 2016-13 will have on its consolidated financial statements.

The Company does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying condensed consolidated financial statements.

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net (Loss) Income	$ (177,000)	$ 21,000
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities
Depreciation of property and equipment	1,906,000	2,105,000
Non-cash employee compensation expense	262,000	361,000
Non-cash directors compensation	162,000	156,000
Non-cash other income recognized	(59,000)	(274,000)
Non-cash interest expense		82,000
Amortization of operating Right-of-Use assets	403,000	364,000
Deferred gain on sale of real estate	(29,000)	(29,000)
Bad debt recovery	(102,000)	(54,000)
Amortization of deferred financing costs	48,000	118,000
Decrease (Increase) in Operating Assets:
Accounts receivable	1,917,000	(1,692,000)
Inventory	(3,876,000)	2,761,000
Prepaid expenses and other current assets	(24,000)	(159,000)
Prepaid taxes	(3,000)
Deposits and other assets	(74,000)	(15,000)
Increase (Decrease) in Operating Liabilities:
Accounts payable and accrued expenses	256,000	(1,261,000)
Operating lease liabilities	(504,000)	(541,000)
Customer deposits	(179,000)	571,000
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES	(73,000)	2,514,000
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	(1,980,000)	(983,000)
NET CASH USED IN INVESTING ACTIVITIES	(1,980,000)	(983,000)
CASH FLOWS FROM FINANCING ACTIVITIES
Note payable - revolver - net - Webster Bank	1,641,000	(2,187,000)
Proceeds from term loan - Webster Bank	1,945,000
Payments of term loan - Webster Bank	(1,430,000)	(1,147,000)
Payments of deferred Financing Costs	(20,000)
Payment of subordinated note payable - related party	(250,000)
Payments of finance lease obligations	(263,000)	(3,000)
Payments of loan payable - financed asset	(5,000)	(7,000)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	1,618,000	(3,344,000)
NET DECREASE IN CASH	(435,000)	(1,813,000)
CASH AT BEGINNING OF PERIOD	627,000	2,505,000
CASH AT END OF PERIOD	192,000	692,000
Supplemental cash flow information
Cash paid during the period for interest	895,000	918,000
Supplemental disclosure of non-cash investing and financing activities
Capitalization of related party note interest to principal		$ 400,000

Debt

9 Months Ended

Sep. 30, 2022

Debt [Abstract]

DEBT

Note 5. DEBT

Notes payable, related party notes payable and finance lease obligations consist of the following:

	September 30,			December 31,
	2022			2021
Revolving loan payable to Webster Bank (F/K/A Sterling National Bank) (“Webster”)	$	14,097,000		$	12,456,000
Term loan, Webster		4,691,000			4,192,000
Finance lease obligations		-			263,000
Loans Payable - financed assets		34,000			39,000
Related party subordinated notes payable		6,162,000			6,412,000
Subtotal		24,984,000			23,362,000
Less: Current portion		(14,820,000	)		(14,112,000	)
Long Term Portion	$	10,164,000		$	9,250,000

Webster Bank (F/K/A Sterling National Bank) (“Webster”)

The Company has a loan facility (“Webster Facility”) with Webster Bank that expires on December 30, 2025. The Webster Facility, which was first entered into on December 31, 2019, was amended several times, and now provides for a $20,000,000 revolving loan (“Revolving Line of Credit”), a $5,000,000 term loan (“Term Loan”) and a $2,000,000 Equipment Line of Credit, which as it is drawn upon will be added to the balance of the Term Loan.

As of September 30, 2022, there is currently $14,097,000 outstanding under the Revolving Loan and $4,691,000 under the Term Loan. The below table shows the timing of payments due under the Term Loan:

For the period ending	Amount
December 31, 2022 (remainder of the year)	$	178,000
December 31, 2023		714,000
December 31, 2024		714,000
December 31, 2025		3,156,000
Webster Term Loan payable		4,762,000
Less: debt issuance costs		(71,000	)
Total Webster Term Loan payable, net of debt issuance costs		4,691,000
Less: Current portion of Webster Term Loan payable		(714,000	)
Total long-term portion of Webster Term Loan payable	$	3,977,000

As of December 31, 2021, our debt to Webster in the amount of $16,648,000 consisted of the Webster Revolving Loan in the amount of $12,456,000 and the Webster term loan in the amount of $4,192,000.

Interest expense related to the Webster Facility amounted to approximately $204,000 and $181,000 for the three months ended September 30, 2022 and 2021, respectively, and $506,000 and $542,000 for the nine months ended September 30, 2022 and 2021, respectively.

The below summarizes historical amendments to the Webster Facility and various terms:

In 2020, the Company entered into the First Amendment to the Webster Facility which increased the Term Loan to $5,685,000 and required the Company to make monthly principal installments in the amount of $67,679 beginning on December 1, 2020. Other minor modifications were made and the Company paid an amendment fee of $20,000.

In June 2021, the Company entered into the Second Amendment to the Webster Facility, which clarified the definition and calculation of Excess Cash Flow, and to confirm the due date of required payment of the Excess Cash Flow payment. For so long as the Webster term loan remains outstanding, if Excess Cash Flow (as defined) is a positive number for any fiscal year the Company shall pay to Webster an amount equal to the lesser of (i) twenty-five percent (25%) of the Excess Cash Flow for such fiscal year and (ii) the outstanding principal balance of the term loan. Such payment shall be made to Webster and applied to the outstanding principal balance of the term loan, on or prior to the close of the fiscal year immediately following such fiscal year. The Company made Excess Cash Flow payments of $558,750 in 2021 (for the fiscal year ended December 31, 2020) and $854,000 in April 2022 (for fiscal year ended December 31, 2021). In connection with these changes, the Company paid an amendment fee of $10,000.

On December 7, 2021, the Company entered into the Third Amendment to the Webster Facility (“Third Amendment”). The purpose of the amendment was to provide a maturity date for the Webster Facility of December 30, 2025 as compared to the original maturity date of December 30, 2022. Such amendment also increased the Revolving Line of Credit to its current limit of $20,000,000 (up from the original $16,000,000) and also provided for a similar increase in the inventory sublimit to $14,000,000 (up from the original $11,000,000). The Third Amendment, also allows the Company, subject to certain limitations, to begin amortizing $250,000 of its related party subordinated notes payable each quarter as long as certain conditions are met. In connection with these changes, the Company paid an amendment fee of $75,000.

On May 17, 2022, the Company entered into the Fourth Amendment to the Webster Facility (“Fourth Amendment”). The purpose of the amendment was to increase the Term Loan to $5,000,000, generating proceeds of $1,945,000, reduced the monthly principal installments to be made in respect to the term loan, and establish a capital expenditure line of credit in the amount of $2,000,000 which the Company can draw upon from time to time to finance purchases of machinery and equipment, thereby increasing the amount of capital expenditures that the Company may make each year. The principle payments are $59,524 per month commencing in June 2022 with a balloon payment due on December 30, 2025. In connection with these changes, the Company paid an amendment fee of $20,000.

Under the terms of the Webster Facility, both the Webster revolving line of credit and the Webster term loan will bear an interest rate equal to the greater of (i) 3.50% and (ii) a rate per annum equal to the rate per annum published from time to time in the “Money Rates” table of the Wall Street Journal (or such other presentation within The Wall Street Journal as may be adopted hereafter for such information) as the base or prime rate for corporate loans at the nation’s largest commercial bank, less sixty-five hundredths (-0.65%) of one percent per annum. The average interest rate charged was 4.70% and 3.50% for the three months ended September 30, 2022 and 2021, respectively and was 3.94% and 3.50% for the nine months ended September 30, 2022 and 2021, respectively.

All amendment fees paid in connection with the Webster Facility are included in Deferred Financing Costs, Net, Deposits and Other Assets, in the accompanying Condensed Consolidated Balance Sheets and are amortized over the term of the loan.

In connection with the Webster Facility, the Company is required to maintain a defined Fixed Charge Coverage Ratio of 1.25 to 1.00 at the end of each Fiscal Quarter. The Webster Facility limits the amount of Capital Expenditures and dividends the Company can pay to its stockholders. Substantially all of the Company’s assets are pledged as collateral under the Webster Facility.

As of September 30, 2022, the Company was in compliance with all financial loan covenants.

Finance Lease Obligations

The Company entered into a Finance lease in December of 2021 for the purchase of new manufacturing equipment. The obligation for the Finance lease totaled $0 and $263,000 as of September 30, 2022 and December 31, 2021, respectively. The lease had an imputed interest rate of 4.2% per annum and was payable monthly with the final payment due on December 17, 2026. In connection with the Fourth Amendment to the Webster Facility, this Finance Lease was paid in full.

Loan Payable – Financed Asset

The Company financed the purchase of a delivery vehicle in July 2020. The loan obligation totaled $33,000 and $39,000 as of September 30, 2022 and December 31, 2021, respectively. The loan bears no interest and a final payment is due and payable for all unpaid principal on July 20, 2026.

The future minimum loan payments are as follows:

For the period ending	Amount
December 31, 2022 (remainder of the year)	$	2,000
December 31, 2023		9,000
December 31, 2024		9,000
December 31, 2025		9,000
December 31, 2026		4,000
Loans Payable - financed assets		33,000
Less: Current portion		(9,000	)
Long-term portion	$	24,000

Related Party Notes Payable

Taglich Brothers, Inc. is a corporation co-founded by two directors of the Company, Michael and Robert Taglich.

Taglich Brothers, Inc. has acted as placement agent for various debt and equity financing transactions and has received cash and equity compensation for their services.

From 2016 through 2020, the Company entered into various subordinated notes payable and convertible subordinated notes payable with Michael and Robert Taglich. These notes resulted in proceeds to the Company totaling $6,550,000. In connection with these notes, Michael and Robert were issued a total of 35,508 shares of common stock and Taglich Brothers Inc. was issued promissory notes totaling $554,000 for placement agency fees. At December 31, 2020, related party notes payable totaled $6,012,000 and accrued interest totaled $400,000.

On January 1, 2021, the related party subordinated notes due to Michael and Robert Taglich and Taglich Brothers, Inc., were amended to include all accrued interest through December 31, 2020 in the principal balance of the notes. Per the terms of the Webster Facility, these notes remain subordinate to the Webster Facility and are due on July 1, 2026. Approximately $2,732,000 of the related party convertible subordinated notes can be converted at the option of the holder into Common Stock of the Company at $15.00 per share, while the remaining $2,080,000 of the related party convertible subordinated notes can be converted at the option of the holder into common stock of the Company at $9.30 per share. There are no principal payments due on these notes. Under the terms of the Third Amendment to the Webster Facility, the Company is now allowed, subject to certain limitations, to make principal payments of $250,000 per quarter of this subordinated debt.

For the three and nine months ended September 30, 2022, a principal payment of $250,000 was made against the Subordinated Notes due to Michael Taglich. This payment was made pursuant to the conditions set forth in the Third Amendment to the Webster Facility.

The note holders and the principal balance of the notes of September 30, 2022 are shown below:

	Michael Taglich,		Robert Taglich,		Taglich Brothers,
	Chairman		Director		Inc.		Total
Convertible Subordinated Notes	$	2,666,000	$	1,905,000	$	241,000	$	4,812,000
Subordinated Notes		1,000,000		350,000		-		1,350,000
Total	$	3,666,000	$	2,255,000	$	241,000	$	6,162,000

Interest expense for the three months ended September 30, 2022 and 2021 on all related party notes payable was $118,000 and $126,000, respectively, and $369,000 and $376,000 for the nine months ended September 30, 2022 and 2021, respectively.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI https://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Accounting Policies, by Policy (Policies)

9 Months Ended

Sep. 30, 2022

Accounting Policies [Abstract]

Inventory Valuation

Inventory Valuation

Inventories consist of the following at:

	September 30,			December 31,
	2022			2021
Raw Materials	$	4,163,000		$	3,410,000
Work In Progress		22,329,000			20,926,000
Finished Goods		9,677,000			8,350,000
Reserve		(2,761,000	)		(3,154,000	)
Total Inventory	$	33,408,000		$	29,532,000

Credit and Concentration Risks

Credit and Concentration Risks

There were two customers that represented 63.9% and 67.7% of total net sales for the three months ended September 30, 2022 and 2021, respectively. This is set forth in the table below.

Customer	Percentage of Sales
	September 30, 2022			September 30, 2021
1		40.7	%		41.6	%
2		23.2	%		26.1	%

There were three customers that represented 68.9% and 75.5% of total sales for the nine months ended September 30, 2022 and 2021, respectively. This is set forth in the table below.

Customer	Percentage of Sales
	September 30, 2022			September 30, 2021
1		32.5	%		36.8	%
2		19.5	%		26.2	%
3		16.9	%		12.5	%

Customer	Percentage of Receivables
	September 30,			December 31,
	2022			2021
1		58.1	%		50.3	%
2		12.1	%		12.7	%
3		*			11.7	%

●

Customer was less than 10% of accounts receivable at September 30, 2022.

Disaggregation of Revenue

Disaggregation of Revenue

The following table summarizes revenue from contracts with customers for the three and nine month periods ending September 30, 2022 and 2021:

	Three Months Ended				Nine Months Ended
Product	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Military	$	11,266,000	$	12,380,000	$	33,399,000	$	38,750,000
Commercial		2,012,000		1,973,000		5,949,000		4,769,000

Total	$	13,278,000	$	14,353,000	$	39,348,000	$	43,519,000

Concentration of Credit Risk

Concentration of Credit Risk

During the period, the Company had occasionally maintained balances in its bank accounts that were in excess of the FDIC insurance limit. The Company has not experienced any losses on these accounts.

Major Suppliers

Major Suppliers

Customer Deposits

Customer Deposits

Backlog

Backlog

Leases

Leases

Earnings (Loss) per share

Earnings (Loss) per share

The following is the calculation of net (loss) income applicable to common stockholders utilized to calculate the EPS:

	Three Months Ended						Nine Months Ended
	September 30, 2022			September 30, 2021			September 30, 2022			September 30, 2021
(Loss) Income - Basic	$	(142,000	)	$	(66,000	)	$	(177,000	)	$	21,000
Add: Convertible Note Interest for Potential Note Conversion		-			-			-			232,000

(Loss) Income used to calculate diluted earnings per share	$	(142,000	)	$	(66,000	)	$	(177,000	)	$	253,000

The following is a reconciliation of the denominators of basic and diluted earnings per share computations:

	Three Months Ended				Nine Months Ended
	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Weighted average shares outstanding used to compute basic earnings per share		3,232,467		3,207,405		3,224,912		3,202,287
Effect of dilutive stock options and warrants		-		-		-		266,300
Effect of dilutive convertible notes payable		-		-		-		405,789
Weighted average shares outstanding and dilutive securities used to compute dilutive earnings per share		3,232,467		3,207,405		3,224,912		3,874,376

The following securities have been excluded from the calculation as the exercise price was greater than the average market price of the common shares:

	Three Months Ended				Nine Months Ended
	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Stock Options		305,350		118,000		305,350		16,000
Warrants		76,000		183,000		76,000		142,000
		381,350		301,000		381,350		158,000

	Three Months Ended				Nine Months Ended
	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Stock Options		-		133,000		-		-
Convertible notes payable		405,810		509,000		405,810		-
		405,810		642,000		405,810		-

Stock-Based Compensation

Stock-Based Compensation

Goodwill

Goodwill

Goodwill is not amortized, but is tested at least annually for impairment, or if circumstances occur that more likely than not reduce the fair value of the reporting unit below its carrying amount.

Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements

Property and Equipment (Details) - Schedule of property and equipment - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Total Property and Equipment	$ 41,212,000	$ 39,232,000
Less: Accumulated Depreciation	(32,734,000)	(30,828,000)
Property and Equipment, net	8,478,000	8,404,000
Land [Member]
Property, Plant and Equipment [Line Items]
Total Property and Equipment	300,000	300,000
Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Total Property and Equipment	1,945,000	1,723,000
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Total Property and Equipment	23,055,000	22,013,000
Finance Lease Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Total Property and Equipment	375,000	375,000
Tools and Instruments [Member]
Property, Plant and Equipment [Line Items]
Total Property and Equipment	13,495,000	12,866,000
Automotive Equipment [Member]
Property, Plant and Equipment [Line Items]
Total Property and Equipment	266,000	200,000
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Total Property and Equipment	290,000	290,000
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total Property and Equipment	882,000	882,000
Computers and Software [Member]
Property, Plant and Equipment [Line Items]
Total Property and Equipment	$ 604,000	$ 583,000

Condensed Consolidated Statements of Stockholders’ Equity (Unaudited) - USD ($)	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2020	$ 3,000	$ 81,267,000	$ (66,161,000)	$ 15,109,000
Balance (in Shares) at Dec. 31, 2020	3,190,698
Common Stock issued for directors fees		52,000		52,000
Common Stock issued for directors fees (in Shares)	4,196
Stock Options exercised
Stock Options exercised (in Shares)	5,122
Stock Compensation Expense		157,000		157,000
Net Income (loss)			(152,000)	(152,000)
Balance at Mar. 31, 2021	$ 3,000	81,476,000	(66,313,000)	15,166,000
Balance (in Shares) at Mar. 31, 2021	3,200,016
Balance at Dec. 31, 2020	$ 3,000	81,267,000	(66,161,000)	15,109,000
Balance (in Shares) at Dec. 31, 2020	3,190,698
Net Income (loss)				21,000
Balance at Sep. 30, 2021	$ 3,000	81,784,000	(66,140,000)	15,647,000
Balance (in Shares) at Sep. 30, 2021	3,207,753
Balance at Mar. 31, 2021	$ 3,000	81,476,000	(66,313,000)	15,166,000
Balance (in Shares) at Mar. 31, 2021	3,200,016
Common Stock issued for directors fees		52,000		52,000
Common Stock issued for directors fees (in Shares)	3,739
Stock Compensation Expense		57,000		57,000
Net Income (loss)			239,000	239,000
Balance at Jun. 30, 2021	$ 3,000	81,585,000	(66,074,000)	15,514,000
Balance (in Shares) at Jun. 30, 2021	3,203,755
Common Stock issued for directors fees		52,000		52,000
Common Stock issued for directors fees (in Shares)	3,998
Stock Compensation Expense		147,000		147,000
Net Income (loss)			(66,000)	(66,000)
Balance at Sep. 30, 2021	$ 3,000	81,784,000	(66,140,000)	15,647,000
Balance (in Shares) at Sep. 30, 2021	3,207,753
Balance at Dec. 31, 2021	$ 3,000	81,920,000	(64,534,000)	17,389,000
Balance (in Shares) at Dec. 31, 2021	3,212,801
Common Stock issued for directors fees		54,000		54,000
Common Stock issued for directors fees (in Shares)	5,522
Stock Compensation Expense		66,000		66,000
Net Income (loss)			(28,000)	(28,000)
Balance at Mar. 31, 2022	$ 3,000	82,040,000	(64,562,000)	17,481,000
Balance (in Shares) at Mar. 31, 2022	3,218,323
Balance at Dec. 31, 2021	$ 3,000	81,920,000	(64,534,000)	17,389,000
Balance (in Shares) at Dec. 31, 2021	3,212,801
Net Income (loss)				(177,000)
Balance at Sep. 30, 2022	$ 3,000	82,344,000	(64,711,000)	17,636,000
Balance (in Shares) at Sep. 30, 2022	3,232,467
Balance at Mar. 31, 2022	$ 3,000	82,040,000	(64,562,000)	17,481,000
Balance (in Shares) at Mar. 31, 2022	3,218,323
Common Stock issued for directors fees		54,000		54,000
Common Stock issued for directors fees (in Shares)	6,429
Stock Compensation Expense		141,000		141,000
Net Income (loss)			(7,000)	(7,000)
Balance at Jun. 30, 2022	$ 3,000	82,235,000	(64,569,000)	17,669,000
Balance (in Shares) at Jun. 30, 2022	3,224,752
Common Stock issued for directors fees		54,000		54,000
Common Stock issued for directors fees (in Shares)	7,715
Stock Compensation Expense		55,000		55,000
Net Income (loss)			(142,000)	(142,000)
Balance at Sep. 30, 2022	$ 3,000	$ 82,344,000	$ (64,711,000)	$ 17,636,000
Balance (in Shares) at Sep. 30, 2022	3,232,467

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669619-108580

Reference 25: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669625-108580

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-URI https://asc.fasb.org/extlink&oid=122038336&loc=d3e74512-122707

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

+ Details

Leases (Details) - Schedule of operating lease payments for leases with remaining terms	Sep. 30, 2022 USD ($)
Schedule of Operating Lease Payments for Leases with Remaining Terms [Abstract]
December 31, 2022 (remainder of year)	$ 257,000
December 31, 2023	1,038,000
December 31, 2024	1,070,000
December 31, 2025	992,000
December 31, 2026	729,000
Total future minimum lease payments	4,086,000
Less: discount	(663,000)
Total operating lease maturities	3,423,000
Less: current portion of operating lease liabilities	(754,000)
Total long term portion of operating lease maturities	$ 2,669,000