0001213900-24-033018 | 10-K | XBRL Viewer

Stock Options and Warrants (Tables)

12 Months Ended

Dec. 31, 2023

Stock Options and Warrants [Abstract]

Schedule of Fair Values of Stock Options Granted

The fair values of stock options granted were estimated using the Black-Sholes option-pricing model with the following assumptions for the years ended December 31:

	2023			2022
Risk-free interest rates		3.70% - 3.97	%		1.38% - 2.73	%
Expected life (in years)		2.50 - 3.5			2.50 - 4.00
Expected volatility		61	%		71.6% - 72.0	%
Dividend yield		0.00	%		0.00	%

Weighted-average grant date fair value per share	$	3.46		$	3.97

Schedule of Stock Options

A summary of the status of the Company’s stock options as of December 31, 2023 and 2022, and changes during the two years then ended are presented below.

				Wtd. Avg.
				Exercise
	Options			Price
Balance, January 1, 2022		246,850		$	12.54
Granted during the period		62,000			8.40
Exercised during the period		-			-
Terminated/Expired during the period		(5,800	)		12.04
Balance, December 31, 2022		303,050		$	11.70
Granted during the period		189,620			3.46
Exercised during the period		-			-
Terminated/Expired during the period		(30,800	)		13.60
Balance, December 31, 2023		461,870		$	8.34

Exercisable at December 31, 2023		397,539		$	8.94

Schedule of Outstanding Stock Options

The following table summarizes information about outstanding stock options at December 31, 2023:

	Number			Wtd. Avg.
Range of Exercise Price	Outstanding		Wtd.Avg, Life	Exercise Price
$3.46 - $15.60		461,870	2.7 years	$	8.94

The following table summarizes information about exercisable stock options at December 31, 2022:

	Number			Wtd. Avg.
Range of Exercise Price	Exercisable		Wtd.Avg, Life	Exercise Price
$8.40 - $15.60		303,050	2.5 years	$	11.70

Schedule of Outstanding Warrants

The following tables summarize the Company’s outstanding warrants as of December 31, 2023 and changes during the two years then ended:

						Wtd. Avg.
				Wtd. Avg.		Remaining
				Exercise		Contractual
	Warrants			Price		Life (years)
Balance, January 1, 2022		150,722		$	21.94		0.75
Granted during the period		-			-		-
Terminated/Expired during the period		(122,722	)		23.75		-
Balance, December 31, 2022		28,000		$	14.00		0.75
Granted during the period		-			-		-
Terminated/Expired during the period		(28,000	)	$	14.00		-
Balance, December 31, 2023		-		$	-		-

Exercisable at December 31, 2023		-		$	-		-

Pay vs Performance Disclosure - USD ($)	12 Months Ended
Pay vs Performance Disclosure - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (2,131,000)	$ (1,076,000)

- Definition

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

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+ Details

Inventory (Details) - Schedule of Inventory - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Schedule of Inventory [Abstract]
Raw Materials	$ 5,213,000	$ 4,198,000
Work In Progress	13,502,000	20,488,000
Semi - Finished Goods	12,590,000	9,642,000
Final – Finished Goods	1,789,000	1,106,000
Reserve	(3,243,000)	(3,613,000)
Total Inventory	$ 29,851,000	$ 31,821,000

Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2023

Accounts Receivable [Abstract]

Schedule of Accounts Receivable

The components of accounts receivable at December 31, are detailed as follows:

	December 31, 2023			December 31, 2022
Accounts Receivable Gross	$	8,236,000		$	9,764,000
Allowance for Credit Losses		(344,000	)		(281,000	)
Accounts Receivable Net	$	7,892,000		$	9,483,000

Schedule of Allowance for Credit Losses

The allowance for credit losses for the years ended December 31, 2023 and 2022 is as follows:

			Charged
	Balance at		to		Deductions		Balance at
	Beginning of		Costs and		from		End of
	Year		Expenses		Reserves		Year
Year ended December 31, 2023 Allowance for Credit Losses	$	281,000	$	88,000	$	25,000	$	344,000
Year ended December 31, 2022 Allowance for Credit Losses	$	594,000	$	16,000	$	329,000	$	281,000

Income Taxes (Details) - Schedule of Deferred Tax Assets - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Net operation loss carryforwards	$ 4,996,000	$ 5,075,000
Allowance for credit loss	133,000	71,000
Inventory - IRC 263A adjustment	336,000	411,000
Stock-based compensation - options and restricted stock	159,000	183,000
Capitalized engineering costs	211,000	331,000
Amortization - NTW Transaction	251,000	359,000
Inventory reserve	715,000	932,000
Deferred gain on sale of real estate	23,000	36,000
Accrued expenses	37,000	30,000
Disallowed interest	2,024,000	1,663,000
Operating lease liabilities	546,000	814,000
Total deferred tax asset, before valuation allowance	9,431,000	9,905,000
Valuation allowance	(7,903,000)	(7,701,000)
Total deferred tax asset, net of valuation allowance	1,528,000	2,204,000
Deferred tax liabilities	(1,114,000)	(1,583,000)
Property and equipment	(414,000)	(621,000)
Total deferred tax liabilities	(1,528,000)	(2,204,000)
Net deferred tax asset

Consolidated Statements of Operations (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Loss per share - Diluted	$ (0.65)	$ (0.33)
Weighted-Average Shares Outstanding - Diluted	3,278,513	3,227,116

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

Consolidated Statements of Changes in Stockholders’ Equity - USD ($)	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total
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		216,000		216,000
Common Stock issued for directors fees (in Shares)	27,849
Common Stock issued in conjunction with reverse split
Common Stock issued in conjunction with reverse split (in Shares)	7,287
Stock-based-compensation-employees		310,000		310,000
Net Loss			(1,076,000)	(1,076,000)
Balance at Dec. 31, 2022	$ 3,000	82,446,000	(65,610,000)	16,839,000
Balance (in Shares) at Dec. 31, 2022	3,247,937
Common Stock issued for directors fees		200,000		200,000
Common Stock issued for directors fees (in Shares)	55,108
Stock-based-compensation-employees		282,000		282,000
Net Loss			(2,131,000)	(2,131,000)
Balance at Dec. 31, 2023	$ 3,000	$ 82,928,000	$ (67,741,000)	$ 15,190,000
Balance (in Shares) at Dec. 31, 2023	3,303,045

- Definition

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

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- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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+ Details

Income Taxes (Details) - Schedule of Federal Statutory Rate	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Schedule of Federal Statutory Rate [Abstract]
U.S. statutory income tax rate	21.00%	21.00%
State taxes, net of federal benefit	2.43%	4.10%
Permanent difference and non-deductible items	(2.71%)	(6.90%)
Change in state rate	(15.20%)	0.70%
Deferred tax valuation allowance	(10.13%)	(18.40%)
Other	4.61%	(0.50%)
Total	0.00%	0.00%

Accounts Payable and Accrued Expenses (Details) - Schedule of Accounts Payable and Accrued Expenses - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Schedule of Accounts Payable and Accrued Expenses [Abstract]
Accounts Payable	$ 5,461,000	$ 6,442,000
Accrued Payroll	373,000	674,000
Accrued Expenses – other	257,000	426,000
Accounts Payable and accrued expenses	$ 6,091,000	$ 7,542,000

Consolidated Statements of Operations - USD ($)	12 Months Ended
Consolidated Statements of Operations - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Net Sales	$ 51,516,000	$ 53,238,000
Cost of Sales	44,088,000	45,786,000
Gross Profit	7,428,000	7,452,000
Operating Expenses	7,723,000	7,646,000
Loss from Operations	(295,000)	(194,000)
Interest Expense	(1,448,000)	(851,000)
Other Income, Net	84,000	139,000
Gain on write-off of accounts payable		317,000
Loss before Benefit From Income Taxes	(2,131,000)	(1,076,000)
Provision for Income Taxes
Net Loss	$ (2,131,000)	$ (1,076,000)
Loss per share - Basic (in Dollars per share)	$ (0.65)	$ (0.33)
Weighted-Average Shares Outstanding - Basic and diluted (in Shares)	3,278,513	3,227,116
Related Party
Interest Expense - Related Parties	$ (472,000)	$ (487,000)

Accounting Policies, by Policy (Policies)

12 Months Ended

Dec. 31, 2023

Summary of Significant Accounting Policies [Abstract]

Principles of Consolidation

Principles of Consolidation

The accompanying consolidated financial statements include accounts of the Company and its wholly-owned subsidiaries. Significant intercompany accounts and transactions have been eliminated in consolidation.

Accounts Receivable

Accounts Receivable

Accounts receivable are carried at the original invoice amount less an estimate made for credit losses based on a review of all outstanding amounts on a quarterly basis. Management determines the allowance for credit losses by regularly evaluating individual customer receivables and considering a customer’s financial condition, credit history, current economic conditions and other relevant factors, including specific reserves for certain accounts. Accounts receivable are written off when deemed uncollectible. Bad debt expenses are recorded in operating expenses on the consolidated statements of operations.

Inventory Valuation

Inventory Valuation

The Company values inventory at the lower of cost on a or an estimated net realizable value. The Company periodically evaluates inventory items not secured by backlog and establishes write-downs to estimated net realizable value for excess quantities, slow-moving goods, obsolescence and for other impairments of value.

Property and Equipment

Property and Equipment

Property and equipment are carried at cost net of accumulated depreciation and amortization. Repair and maintenance charges are expensed as incurred. Property, equipment, and improvements are depreciated using the straight-line method over the estimated useful lives of the assets or the particular improvements. Expenditures for repairs and improvements in excess of $10,000 that add to the productive capacity or extend the useful life of an asset are capitalized. Upon disposition, the cost and related accumulated depreciation are removed from the accounts and any related gain or loss is reflected in earnings.

Long-Lived Assets

Long-Lived Assets

Long-lived assets subject to amortization to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the related carrying amount may be impaired. The Company records an impairment loss if the undiscounted future cash flows are found to be less than the carrying amount of the asset. If an impairment loss has occurred, a charge is recorded to reduce the carrying amount of the asset to fair value.

Deferred Financing Costs

Deferred Financing Costs

Costs incurred with obtaining and executing revolving debt arrangements are capitalized and recorded in other current assets and amortized using the effective interest method over the term of the related debt. Costs incurred with obtaining and executing other debt arrangements are presented as a direct deduction from the carrying value of the associated debt and also amortized using the effective interest method over the term of the related debt. The amortization of financing costs is included in interest expense in the Consolidated Statements of Operations.

Contract Costs Receivable

Contract Costs Receivable

Contract costs receivable represent costs to be reimbursed from a terminated contract. The Company expects to collect the receivable in the next twelve months. Contract costs receivable totals $296,000 at both December 31, 2023 and 2022.

Revenue Recognition

Revenue Recognition

The Company recognizes revenue to depict the transfer of promised goods to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods.

Revenue is recognized as the customer obtains control of the goods and services promised in the contract (i.e., performance obligations). In evaluating our contracts with our customers, we have determined that there is no future performance obligation once delivery has occurred.

Our revenue is generated from fixed-price contracts. Under fixed-price contracts, we agree to perform the specified work for a pre-determined price, which we estimate during the bidding process before the contract is awarded. To the extent our actual costs vary from the estimates upon which the price was negotiated, we will generate more or less profit or could incur a loss.

We evaluate the products promised in each contract at inception to determine whether the contract should be accounted for as having one or more performance obligations. Our contracts are typically accounted for as one performance obligation. We classify net sales as products on our consolidated statements of operations based on the predominant attributes of the performance obligations.

We determine the transaction price for each contract based on the consideration we expect to receive for the products being provided under the contract.

At the inception of a contract, we estimate the transaction price based on our current rights and do not contemplate future modifications (including unexercised options) or follow-on contracts until they become legally enforceable. Contracts can be subsequently modified to include changes in specifications, requirements or price, which may create new or change existing enforceable rights and obligations. Depending on the nature of the modification, we consider whether to account for the modification as an adjustment to the existing contract or as a separate contract. Generally, modifications to our contracts are not distinct from the existing contract due to the significant integration and interrelated tasks provided in the context of the contract. Therefore, such modifications are accounted for as if they were part of the existing contract and recognized as a cumulative adjustment to revenue.

We recognize revenue at the point in time in which the performance obligation is fully satisfied. This is fully satisfied when the product has shipped, which is the point in time the customer obtains control of the product and we no longer maintain control of the product.

Payment terms and conditions vary by contract, although terms generally include a requirement of payment within 30 to 75 days.

Payments received in advance from customers are recorded as customer deposits until earned, at which time revenue is recognized. The Terms and Conditions contained in our customer purchase orders often provide for liquidated damages in the event that a stop work or contract termination order is issued prior to final delivery. While the products we manufacture are specific to the type of aircraft that they are used on, there are alternate customers that can acquire and utilize these products

Customer Deposits

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 December 31, 2023 and 2022, customer deposits were $3,557,000 and $781,000, respectively. The Company recognized revenue of $461,000 during year ended December 31, 2023, that was included in the customer deposits balance as of December 31, 2022. The Company recognized revenue of $440,000 during the year ended December 31, 2022, that was included in the customer deposits balance of $1,470,000 as of December 31, 2021.

Backlog

Backlog

Backlog represents the value of orders received pursuant to our Long-Term Agreements (“LTA”) or spot orders pursuant to a customer purchase order. As of December 31, 2023, backlog relating to remaining performance obligations on contracts was approximately $98.3 million. The Company estimates that a substantial portion of this backlog will be recognized as net sales during the next twenty-four-months, with the rest thereafter. This expectation assumes that raw material suppliers and outsourced processing is completed and delivered on time and that the Company’s customers will accept delivery as scheduled. The Company anticipates that sales during the aforementioned periods will also include sales from expected new orders that are not in our backlog.

Use of Estimates

Use of Estimates

In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. The more significant management estimates are inventory valuation, useful lives and impairment of long-lived assets, income tax provision and the allowance for credit losses. Actual results could differ from those estimates. Changes in facts and circumstances may result in revised estimates, which are recorded in the period in which they become known.

Credit and Concentration Risks

Credit and Concentration Risks

A large percentage of the Company’s revenues are derived directly from large aerospace and defense prime contractors for which the ultimate end-user is the U.S. Government, international governments or commercial airlines.

The composition of customers that exceeded 10% of net sales in either 2023 or 2022 are shown below:

	Percentage of Net Sales
Customer	2023			2022
RTX ^(a)		27.3	%		40.6	%
Lockheed Martin		24.7	%		21.4	%
Boeing		12.2	%		0.0	%
United States Government		3.6	%		14.3	%

^(A)

RTX includes Collins Landing Systems and Collins Aerostructures

The composition of customers that exceed 10% of accounts receivable in either 2023 or 2022 are shown below:

	Percentage of Net Receivables
Customer	2023			2022
RTX		45.5	%		56.7	%
Boeing		16.0	%		0.0	%
Lockheed Martin		3.7	%		13.6	%

^(A)

RTX includes Collins Landing Systems and Collins Aerostructures

Disaggregation of Revenue

Disaggregation of Revenue

The following table summarizes revenue from contracts with customers for the years ended December 31, 2023 and 2022:

Product	December 31, 2023		December 31, 2022
Military	$	42,394,000	$	43,993,000
Commercial		9,122,000		9,245,000

Total	$	51,516,000	$	53,238,000

Cash

Cash

For the years ended December 31, 2023 and 2022, the Company had occasionally maintained balances in its bank accounts that were in excess of the FDIC limit. The Company has not experienced any losses on these accounts.

Major Suppliers

Major Suppliers

The Company utilizes sole-source suppliers to supply raw materials or other parts that used in production. 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.

Income Taxes

Income Taxes

The Company accounts for income taxes in accordance with accounting guidance now codified as Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 740, “Income Taxes,” which requires that the Company recognize deferred tax liabilities and assets based on the differences between the financial statement carrying amounts and the tax bases of assets and liabilities, using enacted tax rates in effect in the years the differences are expected to reverse.

The provision for, or benefit from, income taxes includes deferred taxes resulting from the temporary differences in income for financial and tax purposes using the liability method. Such temporary differences result primarily from the differences in the carrying value of assets and liabilities. Future realization of deferred income tax assets requires sufficient taxable income within the carryback, carryforward period available under tax law. We evaluate, on a quarterly basis whether, based on all available evidence, it is probable that the deferred income tax assets are realizable. Valuation allowances are established when it is more likely than not that the tax benefit of the deferred tax asset will not be realized. The evaluation, as prescribed by ASC 740-10, includes the consideration of all available evidence, both positive and negative, regarding historical operating results including recent years with reported losses, the estimated timing of future reversals of existing taxable temporary differences, estimated future taxable income exclusive of reversing temporary differences and carryforwards, and potential tax planning strategies which may be employed to prevent an operating loss or tax credit carryforward from expiring unused.

The Company accounts for uncertainties in income taxes under the provisions of ASC 740 which clarify the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements. The standard prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The Subtopic provides guidance on the de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition.

Earnings (Loss) per share

Earnings (Loss) per share

Basic earnings (loss) per share (“EPS”) is computed by dividing the net 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 (loss) per common share, the numerator includes net income (loss) 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 securities have been excluded from the calculation as the exercise price was greater than the average market price of the common shares:

	December 31,		December 31,
	2023		2022
Stock Options		461,870		245,446
Warrants		-		28,000
		461,870		273,446

The following securities have been excluded from the calculation because the effect of including these potential shares was anti-dilutive due to the net loss incurred during these periods:

	December 31,		December 31,
	2023		2022
Stock Options		-		-
Convertible notes payable		405,800		405,800
		405,800		405,800

Stock-Based Compensation

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 and stock grants at their closing reported market value. Stock compensation expense for employees amounted to $283,000 and $310,000 for the years ended December 31, 2023 and 2022, respectively. Stock compensation expense for directors amounted to $200,000 and $216,000 for the years ended December 31, 2023 and 2022, respectively. Stock compensation expenses for employees and directors were included in operating expenses in the accompanying consolidated statements of operations.

Goodwill

Goodwill

Goodwill represented the excess of the acquisition cost of businesses over the fair value of the identifiable net assets acquired. In accordance with the provisions of Accounting Standards Update (“ASU”) 2017-04 (“ASU 2017-04”), “Intangibles Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment”, the Company determined that the goodwill was fully impaired at December 31, 2022 and recorded an impairment charge of $163,000 is which included in operating expenses in the consolidated statements of operations.

Freight Out

Freight Out

Freight out is included in operating expenses and amounted to $87,000 and $162,000 for the years ended December 31, 2023 and 2022, respectively.

Leases

Leases

In accordance with FASB ASC 842, “Leases” (“ASC 842”), the Company records a right-of-use (ROU) asset and a lease liability on the balance sheet for all leases with terms longer than 12 months and classifies them as either operating or finance leases. The lease classification affects the expense recognition in the consolidated statement of operations. 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.

At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the unique facts and circumstances present and the classification of the lease including whether the contract involves the use of a distinct identified asset, whether the Company obtains the right to substantially all of the economic benefit from the use of the asset, and whether the Company has the right to direct the use of the asset. Leases with a term greater than one year are recognized on the balance sheet as ROU assets, lease liabilities and, if applicable, long-term lease liabilities. The Company has elected not to recognize on the balance sheet leases with terms of one year or less under the practical expedient. For contracts with lease and non-lease components, the Company has elected not to allocate the contract consideration, and to account for the lease and non-lease components as a single lease component.

Lease liabilities and their corresponding ROU assets are recorded based on the present value of lease payments over the expected lease term. The implicit rate within our operating leases are generally not determinable and, therefore, the Company uses the incremental borrowing rate at the lease commencement date to determine the present value of lease payments. The determination of the Company’s incremental borrowing rate requires judgment. The Company determines the incremental borrowing rate for each lease using our estimated borrowing rate, adjusted for various factors including level of collateralization, term and currency to align with the terms of the lease. The operating lease ROU asset also includes any lease prepayments, offset by lease incentives.

An option to extend the lease is considered in connection with determining the ROU asset and lease liability when it is reasonably certain we will exercise that option. An option to terminate is considered unless it is reasonably certain we will not exercise the option.

Reclassification

Reclassification

Certain amounts in the consolidated notes to the financial statements have been reclassified to conform to the current year presentation. The Right of use asset - finance lease has been reclassified from the classification of Fixed Assets at December 31, 2022.

Such reclassifications do not impact the Company’s previously reported financial position or results of operations.

Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements

In June 2016, the FASB issued ASU No 2016-13, “Financial Instruments - Credit Losses: (“ASU No. 2016-13”) to improve information on credit losses for financial assets and investment in leases that are not accounted for at fair value through net income (loss). ASU 2016-13 replaces the previous incurred loss impairment methodology with a methodology that reflects expected credit losses. Effective January 1, 2023, the Company adopted ASU 2016-13 which did not have a material effect on the Company’s consolidated financial statements.

In December 2023, the FASB issued ASU 2023-09 "Income Taxes (Topic 740): Improvements to Income Tax Disclosures" related to improvements to income tax disclosures. The amendments in this update require enhanced jurisdictional and other disaggregated disclosures for the effective tax rate reconciliation and income taxes paid. The amendments in this update are effective for fiscal years beginning after December 15, 2024. The adoption of this pronouncement is not expected to have a material impact on the Company's 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 consolidated financial statements.

Debt (Details) - Schedule of Indebtedness to Third Parties - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Schedule of Debt [Abstract]
Current Credit Facility – Revolving loan	$ 10,804,000	$ 13,352,000
Current Credit Facility – Term loan	5,045,000	5,396,000
Solar Credit Facility	393,000
Finance lease obligations	884,000	328,000
Loans Payable - financed assets	22,000	30,000
Subtotal	17,148,000	19,106,000
Less: Current portion	(16,036,000)	(14,477,000)
Long-Term Portion	$ 1,112,000	$ 4,629,000

Stock Options and Warrants (Details) - USD ($)							12 Months Ended
Stock Options and Warrants (Details) - USD ($)	Jun. 02, 2023	May 23, 2023	Jan. 31, 2023	Apr. 11, 2022	Apr. 06, 2022	Jan. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023
Stock Options and Warrants (Details) [Line Items]
Granted shares (in Shares)							190,000	62,000
Stock based compensation expense (in Dollars)							$ 482,000	$ 526,000
Aggregate of stock options (in Shares)	6,000	108,620	3,000	53,000	6,000
Common stock price per share	$ 3.5	$ 3.43	$ 8.5	$ 8.4	$ 8.4
Vesting term	1 year			3 years	1 year	3 years
Unrecognized compensation cost (in Dollars)							$ 95,000
Weighted average vesting period							1 year 3 months 18 days
Closing stock price							$ 3.25	$ 4.25
Aggregate intrinsic value (in Dollars)							$ 0	$ 0
Weighted average fair value of options granted							$ 8.4	$ 8.4
Total intrinsic value of options exercised (in Dollars)							$ 0	$ 0
Total fair value of shares vested (in Dollars)							417,000	316,000
2022 Equity Incentive Plan [Member]
Stock Options and Warrants (Details) [Line Items]
Number of shares authorized (in Shares)									250,000
Minimum [Member] \| 2022 Equity Incentive Plan [Member]
Stock Options and Warrants (Details) [Line Items]
Number of shares authorized (in Shares)									100,000
Maximum [Member] \| 2022 Equity Incentive Plan [Member]
Stock Options and Warrants (Details) [Line Items]
Number of shares authorized (in Shares)									350,000
Management and Employees [Member]
Stock Options and Warrants (Details) [Line Items]
Aggregate of stock options (in Shares)	75,000
Common stock price per share	$ 3.5
Vesting term	3 years
Warrant [Member]
Stock Options and Warrants (Details) [Line Items]
Aggregate intrinsic value (in Dollars)							$ 0	$ 0
Warrant [Member] \| Minimum [Member]
Stock Options and Warrants (Details) [Line Items]
Closing stock price							$ 3.25
Warrant [Member] \| Maximum [Member]
Stock Options and Warrants (Details) [Line Items]
Closing stock price								$ 4.25

Operating Lease Liabilities

12 Months Ended

Dec. 31, 2023

Operating Lease Liabilities [Abstract]

OPERATING LEASE LIABILITIES

Note 9. OPERATING LEASE LIABILITIES

The Company has operating leases for leased office and manufacturing facilities. The leases have remaining lease terms of one to five years, some of which include options to extend or terminate the leases.

	Year Ended
	December 31,		December 31,
	2023		2022
Operating lease cost:	$	1,156,000	$	972,000
Total lease cost	$	1,156,000	$	972,000

Other Information
Cash paid for amounts included in the measurement lease liability:		1,038,000		1,006,000
Operating cash flow from operating leases	$	1,038,000	$	1,006,000

	December 31,			December 31,
	2023			2022
Weighted Average Remaining Lease Term - in years		2.66			3.64
Weighted Average discount rate - %		9.10	%		8.89	%

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

	Amount
December 31, 2024	$	1,070,000
December 31, 2025		992,000
December 31, 2026		730,000
Total future minimum lease payments		2,792,000
Less: discount		(330,000	)
Total operating lease maturities		2,462,000
Less: current portion of operating lease liabilities		(880,000	)
Total long-term portion of operating lease maturities	$	1,582,000

Property and Equipment (Details) - Schedule of Property and Equipment - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 43,567,000	$ 41,500,000
Less: Accumulated Depreciation	(35,519,000)	(33,282,000)
Property and Equipment, net	8,048,000	8,218,000
Land [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	300,000	300,000
Buildings and Improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 2,206,000	1,789,000
Property and equipment, useful lives	31 years 6 months
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 24,552,000	23,566,000
Machinery and Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	5 years
Machinery and Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	8 years
Tools and Instruments [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 14,314,000	13,744,000
Tools and Instruments [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	1 year 6 months
Tools and Instruments [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	7 years
Automotive Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 266,000	266,000
Property and equipment, useful lives	5 years
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 299,000	290,000
Furniture and Fixtures [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	5 years
Furniture and Fixtures [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	8 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,025,000	941,000
Property and equipment, useful lives	Term of lease
Computers and Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 605,000	$ 604,000
Computers and Software [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	4 years
Computers and Software [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	6 years

Operating Lease Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Operating Lease Liabilities [Abstract]

Schedule of Remaining Lease Terms

	Year Ended
	December 31,		December 31,
	2023		2022
Operating lease cost:	$	1,156,000	$	972,000
Total lease cost	$	1,156,000	$	972,000

Other Information
Cash paid for amounts included in the measurement lease liability:		1,038,000		1,006,000
Operating cash flow from operating leases	$	1,038,000	$	1,006,000

Schedule of Operating and Finance Leases

	December 31,			December 31,
	2023			2022
Weighted Average Remaining Lease Term - in years		2.66			3.64
Weighted Average discount rate - %		9.10	%		8.89	%

Schedule of Aggregate Undiscounted Cash Flows of Operating Lease Payments

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

	Amount
December 31, 2024	$	1,070,000
December 31, 2025		992,000
December 31, 2026		730,000
Total future minimum lease payments		2,792,000
Less: discount		(330,000	)
Total operating lease maturities		2,462,000
Less: current portion of operating lease liabilities		(880,000	)
Total long-term portion of operating lease maturities	$	1,582,000

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Taxes [Abstract]

Schedule of Provision for Income Taxes

The provision for income taxes for the years ended December 31, 2023 and 2022, is set forth below:

	Year Ended		Year Ended
	December 31,		December 31,
Current	2023		2022
Federal	$	-	$	-
State		-		-

Total Provision for Income Taxes	$	-	$	-

Schedule of Federal Statutory Rate

The following is a reconciliation of our income tax rate computed using the federal statutory rate to our actual income tax rate for the years ended December 31, 2023 and 2022 is set forth below:

	Year Ended			Year Ended
	December 31,			December 31,
	2023			2022
U.S. statutory income tax rate		21.00	%		21.00	%
State taxes, net of federal benefit		2.43	%		4.10	%
Permanent difference and non-deductible items		-2.71	%		-6.90	%
Change in state rate		-15.20	%		0.70	%
Deferred tax valuation allowance		-10.13	%		-18.40	%
Other		4.61	%		-0.50	%
Total		0.00	%		0.00	%

Schedule of Deferred Tax Assets

The components of net deferred tax assets at December 31, are set forth below:

	December 31,			December 31,
	2023			2022
Deferred tax assets:
Current:
Net operation loss carryforwards	$	4,996,000		$	5,075,000
Allowance for credit loss		133,000			71,000
Inventory - IRC 263A adjustment		336,000			411,000
Stock-based compensation - options and restricted stock		159,000			183,000
Capitalized engineering costs		211,000			331,000
Amortization - NTW Transaction		251,000			359,000
Inventory reserve		715,000			932,000
Deferred gain on sale of real estate		23,000			36,000
Accrued expenses		37,000			30,000
Disallowed interest		2,024,000			1,663,000
Operating lease liabilities		546,000			814,000
Total deferred tax asset, before valuation allowance		9,431,000			9,905,000
Valuation allowance		(7,903,000	)		(7,701,000	)
Total deferred tax asset, net of valuation allowance		1,528,000			2,204,000


Deferred tax liabilities		(1,114,000	)		(1,583,000	)
Property and equipment		(414,000	)		(621,000	)
Total deferred tax liabilities		(1,528,000	)		(2,204,000	)

Net deferred tax asset	$	-		$	-

Income Taxes (Details) - Schedule of Provision for Income Taxes - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Schedule of Provision for Income Taxes [Abstract]
Federal
State
Total Provision for Income Taxes

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes (Details) - USD ($)	1 Months Ended
Income Taxes (Details) - USD ($)	Aug. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Income Taxes [Line Items]
Valuation allowance		$ 7,903,000	$ 7,701,000
Valuation allowance increased		202,000	$ 198,000
Operating loss carryforwards		22,363,000
Operating loss carryforwards, subject to expiration		14,719,000
Operating loss carryforwards, not subject to expiration		7,643,000
Percentage of excise taxes	1.00%
Other State [Member]
Income Taxes [Line Items]
Operating loss carryforwards		$ 47,783,000

Operating Lease Liabilities (Details)	Dec. 31, 2023
Minimum [Member]
Operating Lease Liabilities (Details) [Line Items]
Lease terms	1 year
Maximum [Member]
Operating Lease Liabilities (Details) [Line Items]
Lease terms	5 years

Accounts Payable and Accrued Expenses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accounts Payable and Accrued Expenses [Abstract]
Amount of old outstanding payables		$ 317,000

Debt (Details) - Schedule of Finance Lease Obligations - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Finance Lease cost:
Amortization of ROU assets	$ 123,000
Interest on lease liabilities	50,000	2,182
Total lease Costs	173,000	2,182
Cash Paid for amounts included in the measurement lease liabilities:
Financing cash flow from finance lease obligations	123,000	284,000
Supplemental disclosure of non-cash activity
Acquisition of finance lease asset	$ 679,000	$ 350,000

Accounts Receivable (Details) - Schedule of Allowance for Credit Losses - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Schedule of Allowance for Credit Losses [Abstract]
Balance at Beginning of Year	$ 281,000	$ 594,000
Charged to Costs and Expenses	88,000	16,000
Deductions from Reserves	25,000	329,000
Balance at End of Year	$ 344,000	$ 281,000

Inventory (Tables)

12 Months Ended

Dec. 31, 2023

Inventory [Abstract]

Schedule of Inventory

The components of inventory at December 31, consisted of the following:

	December 31,			December 31,
	2023			2022
Raw Materials	$	5,213,000		$	4,198,000
Work In Progress		13,502,000			20,488,000
Semi - Finished Goods		12,590,000			9,642,000
Final – Finished Goods		1,789,000			1,106,000
Reserve		(3,243,000	)		(3,613,000	)
Total Inventory	$	29,851,000		$	31,821,000

Summary of Significant Accounting Policies (Details) - Schedule of Revenue from Contracts with Customers - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Revenue, Major Customer [Line Items]
Total	$ 51,516,000	$ 53,238,000
Military [Member]
Revenue, Major Customer [Line Items]
Total	42,394,000	43,993,000
Commercial [Member]
Revenue, Major Customer [Line Items]
Total	$ 9,122,000	$ 9,245,000

- 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 before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

+ Details

Debt (Details) - Schedule of Future Minimum Finance lease Payment	Dec. 31, 2023 USD ($)
Schedule of Future Minimum Finance lease Payment [Abstract]
December 31, 2024	$ 224,000
December 31, 2025	224,000
December 31, 2026	199,000
December 31, 2027	124,000
December 31, 2028	124,000
Thereafter	177,000
Total future minimum finance lease payments	1,072,000
Less: imputed interest	(188,000)
Less: Current portion	(165,000)
Long-term portion	$ 719,000

Accounts Receivable

12 Months Ended

Dec. 31, 2023

Accounts Receivable [Abstract]

ACCOUNTS RECEIVABLE

Note 3. ACCOUNTS RECEIVABLE

The components of accounts receivable at December 31, are detailed as follows:

	December 31, 2023			December 31, 2022
Accounts Receivable Gross	$	8,236,000		$	9,764,000
Allowance for Credit Losses		(344,000	)		(281,000	)
Accounts Receivable Net	$	7,892,000		$	9,483,000

The allowance for credit losses for the years ended December 31, 2023 and 2022 is as follows:

			Charged
	Balance at		to		Deductions		Balance at
	Beginning of		Costs and		from		End of
	Year		Expenses		Reserves		Year
Year ended December 31, 2023 Allowance for Credit Losses	$	281,000	$	88,000	$	25,000	$	344,000
Year ended December 31, 2022 Allowance for Credit Losses	$	594,000	$	16,000	$	329,000	$	281,000

Income Taxes

12 Months Ended

Dec. 31, 2023

Income Taxes [Abstract]

INCOME TAXES

Note 13. INCOME TAXES

The provision for income taxes for the years ended December 31, 2023 and 2022, is set forth below:

	Year Ended		Year Ended
	December 31,		December 31,
Current	2023		2022
Federal	$	-	$	-
State		-		-

Total Provision for Income Taxes	$	-	$	-

The following is a reconciliation of our income tax rate computed using the federal statutory rate to our actual income tax rate for the years ended December 31, 2023 and 2022 is set forth below:

	Year Ended			Year Ended
	December 31,			December 31,
	2023			2022
U.S. statutory income tax rate		21.00	%		21.00	%
State taxes, net of federal benefit		2.43	%		4.10	%
Permanent difference and non-deductible items		-2.71	%		-6.90	%
Change in state rate		-15.20	%		0.70	%
Deferred tax valuation allowance		-10.13	%		-18.40	%
Other		4.61	%		-0.50	%
Total		0.00	%		0.00	%

The components of net deferred tax assets at December 31, are set forth below:

	December 31,			December 31,
	2023			2022
Deferred tax assets:
Current:
Net operation loss carryforwards	$	4,996,000		$	5,075,000
Allowance for credit loss		133,000			71,000
Inventory - IRC 263A adjustment		336,000			411,000
Stock-based compensation - options and restricted stock		159,000			183,000
Capitalized engineering costs		211,000			331,000
Amortization - NTW Transaction		251,000			359,000
Inventory reserve		715,000			932,000
Deferred gain on sale of real estate		23,000			36,000
Accrued expenses		37,000			30,000
Disallowed interest		2,024,000			1,663,000
Operating lease liabilities		546,000			814,000
Total deferred tax asset, before valuation allowance		9,431,000			9,905,000
Valuation allowance		(7,903,000	)		(7,701,000	)
Total deferred tax asset, net of valuation allowance		1,528,000			2,204,000


Deferred tax liabilities		(1,114,000	)		(1,583,000	)
Property and equipment		(414,000	)		(621,000	)
Total deferred tax liabilities		(1,528,000	)		(2,204,000	)

Net deferred tax asset	$	-		$	-

During the years ended December 31, 2023 and 2022, the Company recorded a valuation allowance equal to its net deferred tax assets. The Company determined that due to a recent history of net losses, at this time sufficient uncertainty exists regarding the future realization of these deferred tax assets through future taxable income. If, in the future, the Company believes that it is more likely than not that these deferred tax benefits will be realized, the valuation allowances will be reduced or eliminated. With a full valuation allowance, any change in the deferred tax asset or liability is fully offset by a corresponding change in the valuation allowance. At December 31, 2023 and 2022, the Company provided a valuation allowance on its net deferred tax assets of $7,903,000 and $7,701,000, respectively. The Company’s valuation allowance increased by $202,000 and $198,000 for the years ended December 31, 2023 and 2022, respectively.

As of December 31, 2023, the Company had a Federal net operating loss carry forward of approximately $22,363,000, of which approximately $14,719,000 expires from 2024 through 2037 and $7,643,000 does not expire. In addition, the Company has net operating loss carryforwards from various states of approximately $4,7783,000 which expire starting in 2035.

The utilization of the Company’s net operating losses may be subject to a U.S. federal limitation due to the “change in ownership provisions” under Section 382 of the Internal Revenue Code and other similar limitations in various state jurisdictions. Such limitations may result in a reduction of the amount of net operating loss carryforwards in future years and possibly the expiration of certain net operating loss carryforwards before their utilization.

At December 31, 2023 and 2022, the Company had no material unrecognized tax benefits and no adjustments to liabilities or operations were required. The Company does not expect that its unrecognized tax benefits will materially increase within the next twelve months. The Company recognizes interest and penalties related to uncertain tax positions in interest expense. As of December 31, 2023, and 2022, the Company has not recorded any provisions for accrued interest and penalties related to uncertain tax positions.

In certain cases, the Company’s uncertain tax positions are related to tax years that remain subject to examination by the relevant tax authorities. The Company files federal and state income tax returns in jurisdictions with varying statutes of limitations. The 2020 through 2023 tax years generally remain subject to examination by federal and state tax authorities.

In August 2022, the Inflation Reduction Act of 2022 (the “IRA”) was signed into law which includes a stock buyback excise tax of 1% on share repurchases, which will apply to net stock buybacks after December 31, 2022. We do not expect this to have a material impact if and when share repurchases occur.

- 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
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
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-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Property and Equipment

12 Months Ended

Dec. 31, 2023

Property and Equipment [Abstract]

PROPERTY AND EQUIPMENT

Note 5. PROPERTY AND EQUIPMENT

The components of property and equipment at December 31, consisted of the following:

	December 31,			December 31,
	2023			2022
Land	$	300,000		$	300,000
Buildings and Improvements		2,206,000			1,789,000		31.5 years
Machinery and Equipment		24,552,000			23,566,000		5 - 8 years
Tools and Instruments		14,314,000			13,744,000		1.5 - 7 years
Automotive Equipment		266,000			266,000		5 years
Furniture and Fixtures		299,000			290,000		5 - 8 years
Leasehold Improvements		1,025,000			941,000		Term of lease
Computers and Software		605,000			604,000		4 - 6 years
Total Property and Equipment		43,567,000			41,500,000
Less: Accumulated Depreciation		(35,519,000	)		(33,282,000	)
Property and Equipment, net	$	8,048,000		$	8,218,000

Depreciation expense for the years ended December 31, 2023 and 2022 was approximately $2,268,000 and $2,522,000, respectively. Assets held under finance lease obligations are depreciated over the shorter of their related lease terms or their estimated productive lives.

Debt (Details) - Schedule of Annual Maturities - Loans Payable – Financed Assets [Member]	Dec. 31, 2023 USD ($)
Debt (Details) - Schedule of Annual Maturities [Line Items]
December 31, 2024	$ 9,000
December 31, 2025	9,000
December 31, 2026	4,000
Loans Payable - financed assets	22,000
Less: Current portion	(9,000)
Long-term portion	$ 13,000

Organization and Basis of Presentation (Details)	12 Months Ended
Organization and Basis of Presentation (Details)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Organization and Basis of Presentation [Line Items]
Reporting segments	1
Net cash provided by operating activities	$ 4,862,000	$ 448,000
Required payments of debt	(1,113,000)	$ (1,609,000)
Amount of backlog	98,300,000
Principal payment	944,000
Credit Facility [Member]
Organization and Basis of Presentation [Line Items]
Required payments of debt	1,113,000
Total Debt reduction	$ 1,958,000
Credit Facility [Member] \| Maximum [Member]
Organization and Basis of Presentation [Line Items]
Fixed charge coverage ratio	1.31%
Credit Facility [Member] \| Minimum [Member]
Organization and Basis of Presentation [Line Items]
Fixed charge coverage ratio	0.95%

Organization and Basis of Presentation

12 Months Ended

Dec. 31, 2023

Organization and Basis of Presentation [Abstract]

ORGANIZATION AND BASIS OF PRESENTATION

Note 1. ORGANIZATION AND BASIS OF PRESENTATION

Organization

Air Industries Group is a Nevada corporation (“AIRI”). As of and for the years ended December 31, 2023 and 2022, the accompanying 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”).

Principal Business Activity

The Company is a leading manufacturer of precision assemblies and components for large aerospace and defense prime contractors. Its products include landing gears, flight controls, engine mounts and components for aircraft jet engines, ground turbines and other complex machines. Most of its machined components and assemblies are integral to high-profile platforms and named programs including the F-18 Hornet, the E2D Hawkeye, the UH-60 Black Hawk Helicopter, the Geared Turbo-Fan Engine, the CH-53 Helicopter, the F-35 Lighting II (also known as the Joint Strike Fighter) and the F-15 Eagle Tactical Fighter.

Our direct customers are primarily large aerospace and defense prime contractors. The ultimate end-users for most of our products are the U.S. Government, international governments, and commercial global airlines.

Basis of Presentation

The accompanying consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States of America and the rules and regulations of the Securities and Exchange Commission.

Since 2022, the Company makes decisions about resources to be allocated and assesses performance based on one integrated business and reports its results as one segment. All of its operations are integrated, share manufacturing facilities and use most, if not all, of the same sales and marketing functions.

Going Concern and Management’s Plan

At each reporting period, management evaluates whether there are conditions or events that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the consolidated financial statements are issued. The Company is required to make certain additional disclosures if management concludes substantial doubt exists about the Company’s ability to continue as a going concern provided that such doubt is not alleviated by the Company’s plans or when the Company’s plans do not alleviate substantial doubt about its ability to continue as a going concern. This evaluation entails analyzing prospective operating budgets and forecasts for expectations regarding cash needs and comparing those needs to the current cash balance and expectations regarding cash to be generated over the following year.

During 2023, the Company generated $4,862,000 of cash from operating activities as compared to only $448,000 in fiscal 2022. It also made $1,113,000 of required payments pursuant to its Current Credit Facility and reduced total debt in 2023 by $1,958,000.

As of December 31, 2023, the Company met all the financial and business covenants required under the terms of its Current Credit Facility including achieving a Fixed Charge Coverage Ratio of 1.31x compared to the required ratio of 0.95x. The terms of all outstanding indebtedness are discussed further in “Note 8. Debt”. For the period ending March 31, 2024 the Company was not in compliance with the required ratio of 1.10x.

Management’s plans are to increase net sales for fiscal 2024 as compared to fiscal 2023. The Company believes that these plans are supported by the Company’s backlog which, as of December 31, 2023, stood at $98.3 million. Further, it anticipates receiving additional funded orders in 2024 pursuant to Long-Term Agreements (“LTA”) agreements from its key customers as well as new customers. With this visibility, the Company is confident in its ability to generate sufficient cash flow to make required principal payments of $944,000 to its lender.

Although the Company has begun discussions to obtain a waiver of the failure to meet the Fixed Coverage Charge Ratio at March 31, 2024, it is reasonably possible that it will not be granted. Even if such waiver is granted, the Company may fail to achieve the Fixed Charge Coverage Ratio in the future or otherwise fail to meet covenants in the Current Credit Facility. Therefore, the Company has classified the term loan that expires on December 30, 2025 as current as of December 31, 2023, in accordance with the guidance in Accounting Standards Codification (“ASC”) 470-10-45, “Debt – Other Presentation Matters”, related to the classification of callable debt. The Company is required to maintain a collection account with its lender into which substantially all cash receipts are remitted. If we were to default under the Current Credit Facility, the Company’s lender could choose to increase the rate of interest or refuse to make loans under the revolving portion of the Facility and keep the funds remitted to the collection account. If the lender were to raise the rate of interest, it would adversely impact the Company’s operating results. If the lender were to cease making new loans under the revolving facility, the Company would lack the funds to continue operations. The rights granted to the lender under the Current Credit Facility combined with the reasonable possibility that the Company might fail to meet covenants in the future raise substantial doubt about its ability to continue as a going concern for the one year commencing as of the date of issuance of this report.

The accompanying consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded assets or the classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

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 10 – Stockholders’ Equity for more information.

Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Summary of Significant Accounting Policies [Line Items]
Expenditures for repairs and improvements	$ 10,000
Contract costs receivable	296,000	$ 296,000
Customer deposits	3,557,000	781,000	$ 1,470,000
Revenue recognized from customer deposits	461,000	440,000
Backlog relating to remaining performance obligations in contracts	98,300,000
Impairment charge		163,000
Cost of freight outward	87,000	162,000
Employee [Member]
Summary of Significant Accounting Policies [Line Items]
Stock based compensation	283,000	310,000
Director [Member]
Summary of Significant Accounting Policies [Line Items]
Stock based compensation	$ 200,000	$ 216,000

Accounts Receivable (Details) - Schedule of Accounts Receivable - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Schedule of Accounts Receivable [Abstract]
Accounts Receivable Gross	$ 8,236,000	$ 9,764,000
Allowance for Credit Losses	(344,000)	(281,000)
Accounts Receivable Net	$ 7,892,000	$ 9,483,000

Summary of Significant Accounting Policies (Details) - Schedule of Composition of Customers Net Sales - Revenue Benchmark [Member] - Customer Concentration Risk [Member]

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

RTX [Member]

Summary of Significant Accounting Policies (Details) - Schedule of Composition of Customers Net Sales [Line Items]

Percentage of Net Sales

^[1]

27.30%

40.60%

Lockheed Martin [Member]

Summary of Significant Accounting Policies (Details) - Schedule of Composition of Customers Net Sales [Line Items]

Percentage of Net Sales

24.70%

21.40%

Boeing [Member]

Summary of Significant Accounting Policies (Details) - Schedule of Composition of Customers Net Sales [Line Items]

Percentage of Net Sales

12.20%

0.00%

United States Government [Member]

Summary of Significant Accounting Policies (Details) - Schedule of Composition of Customers Net Sales [Line Items]

Percentage of Net Sales

3.60%

14.30%

[1]	RTX includes Collins Landing Systems and Collins Aerostructures

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2023	Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net Loss	$ (2,131,000)	$ (1,076,000)
Adjustments to reconcile net loss to net cash provided by operating activities
Depreciation of property and equipment	2,268,000	2,522,000
Stock-based compensation	482,000	526,000
Non-cash other income recognized		(94,000)
Non-cash interest expense		35,000
Non-cash gain on accounts payable write-off		(317,000)
Amortization of Finance Lease Right-of-Use Assets	84,000
Amortization of Operating Lease Right-of-Use Assets	607,000	545,000
Deferred gain on sale-leaseback	(38,000)	(38,000)
Loss on sale of equipment	14,000
Allowance for Credit Loss	63,000	(313,000)
Loss on impairment of goodwill		163,000
Amortization of deferred financing costs	68,000	65,000
(Increase) Decrease in Operating Assets:
Accounts receivable	1,528,000	1,303,000
Inventory	1,970,000	(2,289,000)
Prepaid expenses and other current assets	10,000	(81,000)
Prepaid taxes	(9,000)	(6,000)
Deposits and other assets	(600,000)	(194,000)
Increase (Decrease) in Operating Liabilities:
Accounts payable and accrued expenses	(1,451,000)	1,136,000
Operating lease liabilities	(779,000)	(686,000)
Customer deposits	2,776,000	(439,000)
Deferred payroll tax liability - CARES Act		(314,000)
NET CASH PROVIDED BY OPERATING ACTIVITIES	4,862,000	448,000
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	(2,119,000)	(2,361,000)
Proceeds from sale of property and equipment	7,000
NET CASH USED IN INVESTING ACTIVITIES	(2,112,000)	(2,361,000)
CASH FLOWS FROM FINANCING ACTIVITIES
Note payable - revolver - net - Current Credit Facility	(2,548,000)	916,000
Proceeds from term loan - Current Credit Facility	740,000	2,823,000
Proceeds from term loan - Solar Facility	393,000
Payments of term loan - Current Credit Facility	(1,113,000)	(1,609,000)
Payments of deferred Financing Costs	(25,000)	(20,000)
Payment of subordinated note payable - related party		(250,000)
Payments of finance lease obligations	(123,000)	(284,000)
Payments of loan payable - financed asset	(9,000)	(9,000)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	(2,685,000)	1,567,000
NET INCREASE (DECREASE) IN CASH	65,000	(346,000)
CASH AT BEGINNING OF YEAR	281,000	627,000
CASH AT END OF YEAR	346,000	281,000
Supplemental cash flow information
Cash paid during the year for interest	1,913,000	1,295,000
Cash paid during the year for income taxes	6,100	6,000
Supplemental Disclosure of non-cash investing and finance activities
Acquisition of financed lease asset	$ 679,000	$ 350,000

Consolidated Balance Sheets (Parentheticals) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for doubtful accounts (in Dollars)	$ 344,000	$ 281,000
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	3,303,045	3,247,937
Common stock, shares outstanding	3,303,045	3,247,937

Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt (Tables) [Line Items]

Schedule of Indebtedness to Third Parties

Indebtedness to third parties consists of the following:

	December 31,			December 31,
	2023			2022
Current Credit Facility – Revolving loan	$	10,804,000		$	13,352,000
Current Credit Facility – Term loan		5,045,000			5,396,000
Solar Credit Facility		393,000			-
Finance lease obligations		884,000			328,000
Loans Payable - financed assets		22,000			30,000
Subtotal		17,148,000			19,106,000
Less: Current portion		(16,036,000	)		(14,477,000	)
Long-Term Portion	$	1,112,000		$	4,629,000

Schedule of Annual Maturities

The below table shows the timing of payments due under the Term Loan:

For the year ending	Amount
December 31, 2024	$	945,000
December 31, 2025		4,143,000
Term Loan payable		5,088,000
Less: debt issuance costs		(43,000	)
Total Term Loan payable, net of debt issuance costs		5,045,000
Less: Current portion of Term Loan payable		(5,045,000	)
Total long-term portion of Term Loan payable	$	-

Schedule of Finance Lease Obligations

The leases have an average imputed interest rate of 7.31% per annum and are payable monthly with the final payments due between September of 2026 and May of 2030.

	Year Ended
	December 31,		December 31,
	2023		2022
Finance Lease cost:
Amortization of ROU assets	$	123,000	$	-
Interest on lease liabilities		50,000		2,182
Total lease Costs	$	173,000	$	2,182

Other Information:
Cash Paid for amounts included in the measurement lease liabilities:
Financing cash flow from finance lease obligations	$	123,000	$	284,000

Supplemental disclosure of non-cash activity
Acquisition of finance lease asset	$	679,000	$	350,000

Schedule of Lease Term and Discount Rate

	December 31,			December 31,
	2023			2022
Weighted Average Remaining Lease Term - in years		5.4			4.0
Weighted Average Discount rate - %		7.31	%		7.48	%

Schedule of Future Minimum Finance lease Payment

As of December 31, 2023, the aggregate future minimum finance lease payment, including imputed interest are as follows:

For the year ending	Amount
December 31, 2024	$	224,000
December 31, 2025		224,000
December 31, 2026		199,000
December 31, 2027		124,000
December 31, 2028		124,000
Thereafter		177,000
Total future minimum finance lease payments		1,072,000
Less: imputed interest		(188,000	)
Less: Current portion		(165,000	)
Long-term portion	$	719,000

Schedule of Note Holders and the Principal Balance

The Related Party Notes outstanding as of December 31, 2023 consists of:

	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

Loans Payable – Financed Assets [Member]

Debt (Tables) [Line Items]

Schedule of Annual Maturities

Annual maturities of this loan are as follows:

For the year ending	Amount
December 31, 2024	$	9,000
December 31, 2025		9,000
December 31, 2026		4,000
Loans Payable - financed assets		22,000
Less: Current portion		(9,000	)
Long-term portion	$	13,000

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accounting Policies (Details) - Schedule of Exercise Price Was Greater Than the Average Market Price - Common Stock [Member] - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Summary of Significant Accounting Policies (Details) - Schedule of Exercise Price Was Greater Than the Average Market Price [Line Items]
Stock Options	461,870	245,446
Warrants		28,000
Total	461,870	273,446

Inventory

12 Months Ended

Dec. 31, 2023

Inventory [Abstract]

INVENTORY

Note 4. INVENTORY

The components of inventory at December 31, consisted of the following:

	December 31,			December 31,
	2023			2022
Raw Materials	$	5,213,000		$	4,198,000
Work In Progress		13,502,000			20,488,000
Semi - Finished Goods		12,590,000			9,642,000
Final – Finished Goods		1,789,000			1,106,000
Reserve		(3,243,000	)		(3,613,000	)
Total Inventory	$	29,851,000		$	31,821,000

Employee Benefits Plans (Details) - USD ($)	12 Months Ended
Employee Benefits Plans (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Employee Benefits Plans [Abstract]
Security fund amount	$ 147,000	$ 155,000

Debt (Details) - Schedule of Lease Term and Discount Rate	Dec. 31, 2023	Dec. 31, 2022
Schedule of Lease Term and Discount Rate [Abstract]
Weighted Average Remaining Lease Term - in years	5 years 4 months 24 days	4 years
Weighted Average Discount rate - %	7.31%	7.48%

Accounts Payable and Accrued Expenses

12 Months Ended

Dec. 31, 2023

Accounts Payable and Accrued Expenses [Abstract]

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

Note 6. ACCOUNTS PAYABLE AND ACCRUED EXPENSES

The components of accounts payable and accrued expenses at December 31, are detailed as follows:

	December 31, 2023		December 31, 2022
Accounts Payable	$	5,461,000	$	6,442,000
Accrued Payroll		373,000		674,000
Accrued Expenses – other		257,000		426,000
Accounts Payable and accrued expenses	$	6,091,000	$	7,542,000

During the year ended December 31, 2022, the Company reviewed all old outstanding payables that were not paid and based on the statute of limitations concluded that certain claims would no longer be enforceable. The Company determined that approximately $317,000 of aged payables fell into this category. This adjustment is recorded as write-off of accounts payable in the accompanying consolidated statement of operations.

Debt (Details) - Schedule of Payments Due Under the Term Loan	Dec. 31, 2023 USD ($)
Schedule of Payments Due Under The Term Loan [Abstract]
December 31, 2024	$ 945,000
December 31, 2025	4,143,000
Term Loan payable	5,088,000
Less: debt issuance costs	(43,000)
Total Term Loan payable, net of debt issuance costs	5,045,000
Less: Current portion of Term Loan payable	$ (5,045,000)

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Operating Lease Liabilities (Details) - Schedule of Operating and Finance Leases	Dec. 31, 2023	Dec. 31, 2022
Schedule of Operating and Finance Leases [Abstract]
Weighted Average Remaining Lease Term - in years	2 years 7 months 28 days	3 years 7 months 20 days
Weighted Average discount rate - %	9.10%	8.89%

Cover - USD ($)	12 Months Ended
Cover - USD ($)	Dec. 31, 2023	Apr. 12, 2024	Jun. 30, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Financial Statement Error Correction [Flag]	false
Entity Interactive Data Current	Yes
ICFR Auditor Attestation Flag	false
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Documents Incorporated by Reference [Text Block]	None
Entity Information [Line Items]
Entity Registrant Name	AIR INDUSTRIES GROUP
Entity Central Index Key	0001009891
Entity File Number	001-35927
Entity Tax Identification Number	80-0948413
Entity Incorporation, State or Country Code	NV
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Public Float			$ 8,910,812
Entity Contact Personnel [Line Items]
Entity Address, Address Line One	1460 Fifth Avenue
Entity Address, Address Line Two	Bay Shore
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11706
Entity Phone Fax Numbers [Line Items]
City Area Code	(631)
Local Phone Number	968-5000
Entity Listings [Line Items]
Title of 12(b) Security	Common Stock, par value $0.001
Trading Symbol	AIRI
Security Exchange Name	NYSEAMER
Entity Common Stock, Shares Outstanding		3,315,368

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2023

Property and Equipment [Abstract]

Schedule of Property and Equipment

The components of property and equipment at December 31, consisted of the following:

	December 31,			December 31,
	2023			2022
Land	$	300,000		$	300,000
Buildings and Improvements		2,206,000			1,789,000		31.5 years
Machinery and Equipment		24,552,000			23,566,000		5 - 8 years
Tools and Instruments		14,314,000			13,744,000		1.5 - 7 years
Automotive Equipment		266,000			266,000		5 years
Furniture and Fixtures		299,000			290,000		5 - 8 years
Leasehold Improvements		1,025,000			941,000		Term of lease
Computers and Software		605,000			604,000		4 - 6 years
Total Property and Equipment		43,567,000			41,500,000
Less: Accumulated Depreciation		(35,519,000	)		(33,282,000	)
Property and Equipment, net	$	8,048,000		$	8,218,000

Sale-Leaseback Transaction

12 Months Ended

Dec. 31, 2023

Sale and Leaseback Transaction [Abstract]

SALE-LEASEBACK TRANSACTION

Note 7. SALE-LEASEBACK TRANSACTION

On October 24, 2006, the Company consummated a Sale - Leaseback Arrangement, whereby the Company sold the buildings and real property located in Bay Shore, New York (the “Bay Shore Property”) for a purchase price of $6,200,000. The Company realized a gain on the sale of $1,051,000 of which $300,000 was recognized during the year ended December 31, 2006. The remaining $751,000 is being recognized ratably over the remaining term of the twenty - year lease at approximately $38,000 per year. The gain is included in Other Income in the accompanying Consolidated Statements of Operations. The unrecognized portion of the gain in the amount of $105,000 and $143,000 as of December 31, 2023 and 2022, respectively, is classified as Deferred Gain on Sale in the accompanying Consolidated Balance Sheets.

The Company accounted for these transactions under the provisions of FASB ASC 840-40, “Leases-Sale-Leaseback Transactions.”

Simultaneous with the closing of the sale of the Bay Shore Property, the Company entered into a 20-year lease (the “Lease”) expiring in September 2026 with the purchaser for the property. Base annual rent is approximately $540,000 for the first five years, $560,000 for the sixth year, and thereafter increases 3% per year. The Lease grants the Company an option to renew the Lease for an additional period of five years. The Company has on deposit with the landlord $89,000 as security for the performance of its obligations under the Lease. Pursuant to the terms of the Lease, the Company is required to pay all of the costs associated with the operation of the facilities, including, without limitation, insurance, taxes and maintenance. The lease also contains customary representations, warranties, obligations, conditions and indemnification provisions and grants the landlord customary remedies upon a breach of the lease by the Company, including the right to terminate the Lease and hold the Company liable for any deficiency in future rent. See Note 9 – Operating Lease Liabilities.

Summary of Significant Accounting Policies (Details) - Schedule of Anti-Dilutive Due to the Net Loss - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Schedule of Anti-Dilutive Due to the Net Loss [Line Item]
Total	405,800	405,800
Stock Options [Member]
Schedule of Anti-Dilutive Due to the Net Loss [Line Item]
Total
Convertible notes payables [Member]
Schedule of Anti-Dilutive Due to the Net Loss [Line Item]
Total	405,800	405,800

Stock Options and Warrants (Details) - Schedule of Fair Values of Stock Options Granted - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Stock Options and Warrants (Details) - Schedule of Fair Values of Stock Options Granted [Line Items]
Expected volatility	61.00%
Dividend yield	0.00%	0.00%
Weighted-average grant date fair value per share (in Dollars per share)	$ 3.46	$ 3.97
Minimum [Member]
Stock Options and Warrants (Details) - Schedule of Fair Values of Stock Options Granted [Line Items]
Risk-free interest rates	3.70%	1.38%
Expected life (in years)	2 years 6 months	2 years 6 months
Expected volatility		71.60%
Maximum [Member]
Stock Options and Warrants (Details) - Schedule of Fair Values of Stock Options Granted [Line Items]
Risk-free interest rates	3.97%	2.73%
Expected life (in years)	3 years 6 months	4 years
Expected volatility		72.00%

Debt (Details) - Schedule of Note Holders and the Principal Balance	Dec. 31, 2023 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

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Summary of Significant Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Note 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation

Accounts Receivable

Inventory Valuation

Property and Equipment

Long-Lived Assets

Deferred Financing Costs

Contract Costs Receivable

Revenue Recognition

We determine the transaction price for each contract based on the consideration we expect to receive for the products being provided under the contract.

Payment terms and conditions vary by contract, although terms generally include a requirement of payment within 30 to 75 days.

Customer Deposits

Backlog

Use of Estimates

Credit and Concentration Risks

The composition of customers that exceeded 10% of net sales in either 2023 or 2022 are shown below:

	Percentage of Net Sales
Customer	2023			2022
RTX ^(a)		27.3	%		40.6	%
Lockheed Martin		24.7	%		21.4	%
Boeing		12.2	%		0.0	%
United States Government		3.6	%		14.3	%

^(A)

RTX includes Collins Landing Systems and Collins Aerostructures

The composition of customers that exceed 10% of accounts receivable in either 2023 or 2022 are shown below:

	Percentage of Net Receivables
Customer	2023			2022
RTX		45.5	%		56.7	%
Boeing		16.0	%		0.0	%
Lockheed Martin		3.7	%		13.6	%

^(A)

RTX includes Collins Landing Systems and Collins Aerostructures

Disaggregation of Revenue

The following table summarizes revenue from contracts with customers for the years ended December 31, 2023 and 2022:

Product	December 31, 2023		December 31, 2022
Military	$	42,394,000	$	43,993,000
Commercial		9,122,000		9,245,000

Total	$	51,516,000	$	53,238,000

Cash

Major Suppliers

Income Taxes

Earnings (Loss) per share

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

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

	December 31,		December 31,
	2023		2022
Stock Options		461,870		245,446
Warrants		-		28,000
		461,870		273,446

The following securities have been excluded from the calculation because the effect of including these potential shares was anti-dilutive due to the net loss incurred during these periods:

	December 31,		December 31,
	2023		2022
Stock Options		-		-
Convertible notes payable		405,800		405,800
		405,800		405,800

Stock-Based Compensation

Goodwill

Freight Out

Freight out is included in operating expenses and amounted to $87,000 and $162,000 for the years ended December 31, 2023 and 2022, respectively.

Leases

Reclassification

Such reclassifications do not impact the Company’s previously reported financial position or results of operations.

Recently Issued Accounting Pronouncements

Employee Benefits Plans

12 Months Ended

Dec. 31, 2023

Employee Benefits Plans [Abstract]

EMPLOYEE BENEFITS PLANS

Note 11. EMPLOYEE BENEFITS PLANS

The Company employs both union and non-union employees and maintains several benefit plans.

Union

Our AIM subsidiary has a collective bargaining agreement with the United Service Workers, IUJAT, Local 355 (the “Union”). This agreement is effective until December 31, 2024 and covers the majority of AIM’s 125 personnel. The Company is not required to make a monthly contribution to Union’s United Welfare Fund and the United Services Worker’s Security Fund, the sole pension benefit for covered employees. The Company is not obligated to provide any future defined benefits. The Company is obligated to make contributions for union dues and a security fund (defined contribution plan) for the benefit of each union employee. Contributions to the security fund amounted to $147,000 and $155,000 for the years ended December 31, 2023 and 2022, respectively. The Union’s retirement plan is a defined contribution plan. As such, the Company is not responsible for the obligations of other companies in the Union’s retirement plan.

Medical benefits for union employees are provided through a policy with Insperity Services, Inc. (“Insperity”), a professional employer organization that provides out-sourced human resource services. The cost of such benefits are substantially borne by the Company.

The collective bargaining agreement contains a “no-strike” clause and a “no-lock-out” clause. The Company believes it maintains good relationships with the Union and expects to renew the collective bargaining agreement before it expires.

Others

All of the Company’s employees are covered under a co-employment agreement with Insperity, a professional employer organization that provides out-sourced human resource services.

The Company has defined contribution plans under Section 401(k) of the Internal Revenue Code (the “Plans”). Pursuant to the Plans, qualified employees may contribute a percentage of their pre-tax eligible compensation to the Plan. The Company does not match any contributions that employees may make to the Plans.

Stock Options and Warrants (Details) - Schedule of Outstanding Stock Options - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
$3.46 - $15.60 [Member]
Stock Options and Warrants (Details) - Schedule of Outstanding Stock Options [Line Items]
Number Outstanding	461,870
Weighted Average Life	2 years 8 months 12 days
Weighted Average Exercise Price	$ 8.94
$8.40 - $15.60 [Member]
Stock Options and Warrants (Details) - Schedule of Outstanding Stock Options [Line Items]
Number Outstanding		303,050
Weighted Average Life		2 years 6 months
Weighted Average Exercise Price		$ 11.7

Stockholders’ Equity

12 Months Ended

Dec. 31, 2023

Stockholders’ Equity [Abstract]

STOCKHOLDERS’ EQUITY

Note 10. 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 – Issuances of Securities

The Company issued 55,108 and 27,849 shares of common stock totaling $200,000 and $216,000 in payment of Director’s fees for the years ended December 31, 2023 and 2022, respectively. Such expense is included in Operating Expenses in the consolidated statements of operations.

During the first quarter of 2024, the Company issued 12,323 shares of common stock in payment of Director’s fees totaling $38,000.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
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-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Publisher FASB
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
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-Subparagraph (b)
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Consolidated Balance Sheets - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Current Assets
Cash	$ 346,000	$ 281,000
Accounts Receivable, Net of Allowance for Credit Loss of $344,000 and $281,000	7,892,000	9,483,000
Inventory	29,851,000	31,821,000
Prepaid Expenses and Other Current Assets	297,000	307,000
Contract Costs Receivable	296,000	296,000
Prepaid Taxes	37,000	28,000
Total Current Assets	38,719,000	42,216,000
Property and Equipment, Net	8,048,000	8,218,000
Finance Lease Right-of-Use-Assets	970,000	375,000
Operating Lease Right-of-Use-Assets	1,866,000	2,473,000
Deferred Financing Costs, Net, Deposits and Other Assets	1,112,000	532,000
TOTAL ASSETS	50,715,000	53,814,000
Current Liabilities
Debt	16,036,000	14,477,000
Accounts Payable and Accrued Expenses	6,091,000	7,542,000
Operating Lease Liabilities	880,000	778,000
Deferred Gain on Sale - Leaseback	38,000	38,000
Customer Deposits	3,557,000	781,000
Total Current Liabilities	26,602,000	23,616,000
Debt	1,112,000	4,629,000
Subordinated Notes - Related Party	6,162,000	6,162,000
Operating Lease Liabilities	1,582,000	2,463,000
Deferred Gain on Sale – Leaseback	67,000	105,000
TOTAL LIABILITIES	35,525,000	36,975,000
Commitments and Contingencies
Stockholders’ Equity
Preferred Stock, par value $.001 - Authorized 3,000,000 shares, 0 shares outstanding, at both December 31, 2023 and December 31, 2022.
Common Stock - Par Value $.001 - Authorized 6,000,000 shares, 3,303,045 and 3,247,937 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively	3,000	3,000
Additional Paid-In Capital	82,928,000	82,446,000
Accumulated Deficit	(67,741,000)	(65,610,000)
TOTAL STOCKHOLDERS’ EQUITY	15,190,000	16,839,000
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 50,715,000	$ 53,814,000

Stock Options and Warrants (Details) - Schedule of Stock Options - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Schedule of Stock Options [Abstract]
Options Balance	303,050	246,850
Weighted Average Exercise Price, Balance	$ 11.7	$ 12.54
Options, Granted	189,620	62,000
Weighted Average Exercise Price, Granted	$ 3.46	$ 8.4
Options, Exercised
Weighted Average Exercise Price, Exercised
Options, Terminated/Expired	(30,800)	(5,800)
Weighted Average Exercise Price, Terminated/Expired	$ 13.6	$ 12.04
Options Balance	461,870	303,050
Weighted Average Exercise Price, Balance	$ 8.34	$ 11.7
Options, Exercisable	397,539
Weighted Average Exercise Price, Exercisable	$ 8.94

Accounts Payable and Accrued Expenses (Tables)

12 Months Ended

Dec. 31, 2023

Accounts Payable and Accrued Expenses [Abstract]

Schedule of Accounts Payable and Accrued Expenses

The components of accounts payable and accrued expenses at December 31, are detailed as follows:

	December 31, 2023		December 31, 2022
Accounts Payable	$	5,461,000	$	6,442,000
Accrued Payroll		373,000		674,000
Accrued Expenses – other		257,000		426,000
Accounts Payable and accrued expenses	$	6,091,000	$	7,542,000

Summary of Significant Accounting Policies (Details) - Schedule of Composition of Customers Accounts Receivable - Accounts Receivable [Member] - Credit Concentration Risk [Member]

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

RTX [Member]

Concentration Risk [Line Items]

Concentration risk, percentage

^[1]

45.50%

56.70%

Boeing [Member]

Concentration Risk [Line Items]

Concentration risk, percentage

16.00%

0.00%

Lockheed Martin [Member]

Concentration Risk [Line Items]

Concentration risk, percentage

3.70%

13.60%

[1]	RTX includes Collins Landing Systems and Collins Aerostructures

Commitments and Contingencies

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies [Abstract]

COMMITMENTS AND CONTINGENCIES

Note 12. COMMITMENTS AND CONTINGENCIES

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. Subsequently, Contact Pharmacal moved to amend its Complaint. The Company opposed and the Court denied the request to amend the Complaint. 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. The Appellate Division upheld the denial of Contract Pharmacal’s motion for summary judgement and upheld the denial of its motion to amend its Complaint. The Company disputes the validity of the claims asserted by Contract Pharmacal and intends to contest them vigorously.

From time to time the Company may be engaged in various lawsuits and legal proceedings in the ordinary course of business. The Company is currently not aware of any legal proceedings the ultimate outcome of which, in its judgment based on information currently available, would have a material adverse effect on its business, financial condition or operating results. There are no proceedings in which any of the Company’s directors, officers or affiliates, or any registered or beneficial stockholder of its common stock, is an adverse party or has a material interest adverse to our interest.

Stock Options and Warrants (Details) - Schedule of Outstanding Warrants - Warrant [Member] - $ / shares		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022
Class of Warrant or Right [Line Items]
Warrants, Balance	150,722		28,000
Weighted Average Exercise Price, Balance	$ 21.94		$ 14
Weighted Average Remaining Contractual Life (years), Balance	9 months		9 months
Warrants, Exercisable
Weighted Average Exercise Price, Exercisable
Weighted Average Remaining Contractual Life (years), Exercisable
Warrants, Granted
Weighted Average Exercise Price, Granted
Weighted Average Remaining Contractual Life (years), Granted
Warrants, Terminated/Expired		(28,000)	(122,722)
Weighted Average Exercise Price, Terminated/Expired		$ 14	$ 23.75
Weighted Average Remaining Contractual Life (years), Terminated/Expired

Sale-Leaseback Transaction (Details) - USD ($)		12 Months Ended
Sale-Leaseback Transaction (Details) - USD ($)	Oct. 24, 2006	Dec. 31, 2023	Dec. 31, 2022
Sale-Leaseback Transaction (Details) [Line Items]
Sale of buildings and real property at a purchase price	$ 6,200,000
Gain on sale of real property	1,051,000
Recognized amount	300,000
Recognized remaining amount of lease	$ 751,000
Lease term	20 years
Lease income per year	$ 38,000
Unrecognized portion of gain		$ 105,000	$ 143,000
Base annual rent		$ 540,000
Term of lease for annual rent		5 years
Lessee, Operating Lease, Renewal Term		5 years
Deposit security		$ 89,000
Leases-Sale-Leaseback [Member]
Sale-Leaseback Transaction (Details) [Line Items]
Debt Instrument, Periodic Payment, Principal		$ 560,000
Annual rent percentage		3.00%

Debt

12 Months Ended

Dec. 31, 2023

Debt [Abstract]

DEBT

Note 8. Debt

Indebtedness to third parties consists of the following:

	December 31,			December 31,
	2023			2022
Current Credit Facility – Revolving loan	$	10,804,000		$	13,352,000
Current Credit Facility – Term loan		5,045,000			5,396,000
Solar Credit Facility		393,000			-
Finance lease obligations		884,000			328,000
Loans Payable - financed assets		22,000			30,000
Subtotal		17,148,000			19,106,000
Less: Current portion		(16,036,000	)		(14,477,000	)
Long-Term Portion	$	1,112,000		$	4,629,000

Current Credit Facility

The Company has a credit facility (“Current Credit Facility”) with Webster Bank that expires on December 30, 2025. This facility, which was 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 is added to the balance of the Term Loan. The loan is secured by a lien on substantially all of the assets of the Company.

On December 15, 2022, the Company made a draw against the capital expenditure line of credit in the amount of $877,913. The principal payments are $10,451 per month commencing in February 2023 with a balloon payment of $512,000 required on December 30, 2025.

On January 4, 2023, the Company made an additional draw against the capital expenditure line of credit in the amount of $739,500. The principal payments are $8,804 per month commencing in March 2023 with a balloon payment of $440,000 required on December 30, 2025.

As of December 31, 2023, there is $10,804,000 outstanding under the Revolving Line of Credit and $5,045,000 under the Term Loan, inclusive of amounts drawn under the Equipment Line of Credit. Additionally, there was $382,000 remaining available under the Equipment Line of Credit.

As discussed in Note 1, the Company was not in compliance with a required covenant as of March 31, 2024. There is no assurance that the Company will be able obtain a waiver of its failure to meet this covenant or will be able to meet its financial covenants in one of the upcoming fiscal quarters over the next twelve months, therefore, in accordance with the guidance in ASC 470-10-45, related to the classification of callable debt, the entire term loan has been classified as short term as of December 31, 2023.

The below table shows the timing of payments due under the Term Loan:

For the year ending	Amount
December 31, 2024	$	945,000
December 31, 2025		4,143,000
Term Loan payable		5,088,000
Less: debt issuance costs		(43,000	)
Total Term Loan payable, net of debt issuance costs		5,045,000
Less: Current portion of Term Loan payable		(5,045,000	)
Total long-term portion of Term Loan payable	$	-

Interest expense related to the Current Credit Facility amounted to approximately $1,391,000 and $780,000 for the years ended December 31, 2023 and 2022, respectively. Interest expense includes the amortization of deferred finance costs of $68,000 and $65,000 in 2023 and 2022, respectively.

As of December 31, 2023, the Company was in full compliance with all financial covenants. The below summarizes various terms of the Current Credit Facility (all of which are described in full in various SEC filings):

●

The Company is required to maintain a defined Fixed Charge Coverage Ratio at the end of each Fiscal Quarter on a rolling basis. As of December 31, 2023, the Company achieved a Fixed Charge Coverage Ratio of 1.31x compared to the required 0.95x.

●

For so long as the Term Loan remains outstanding, if Excess Cash Flow (as defined) is a positive number for any fiscal year the Company shall pay 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 applied to the outstanding principal balance of the Term Loan, on or prior to the April 15 immediately following such fiscal year. The Company made an Excess Cash Flow $195,000 for fiscal year ended December 31, 2022. For the Fiscal year ended December 31, 2023, based on the calculation there is no Excess Cash Flow payment required.

●

Both the Revolving Line of Credit and the 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 7.55% and 4.50% for the years ended December 31, 2023 and 2022, respectively.

●

The Current Credit 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.

The below summarizes historical amendments to the Current Credit Facility

●

On May 17, 2022, the Company entered into a Fourth Amendment that increased the Term Loan to $5,000,000 and reduced monthly principal repayments requirements. It also provided for the establishment of a Capital Expenditure Line in the amount of $2,000,000 which the Company can draw upon to purchase machinery and equipment. In 2022, the Company borrowed $878,000, and in 2023, it borrowed $739,500 against the Capital Expenditure Line. In connection with this amendment, the Company paid an amendment fee of $20,000.

●

On August 4, 2023, the Company entered into a Fifth Amendment that waived a default caused by the failure by the Company to meet the required Fixed Charge Coverage Ratio for the fiscal quarter ended March 31, 2023. Additionally, the amendment provided for a revised Fixed Charge Ratio for the fiscal quarters ending June 30, 2023, and September 30, 2023, and increased the amount of purchase money secured debt (such as finance leases) the Company is allowed to have outstanding at any time to $2,000,000. In connection with this amendment, the Company paid an amendment fee of $10,000.

●

On November 20, 2023, the Company entered into a Sixth Amendment that waived defaults caused by our failure to achieve the required Fixed Charge Coverage Ratio of the Fifth Amendment and because we purchased capital expenditures (as defined) in excess of permitted amounts. This amendment further revised the Fixed Charge Coverage Ratio by requiring it to be calculated on a rolling period basis and not be less than, (a) 1.10x (as calculated on a six-months basis) for the fiscal quarter ending March 31, 2024 (b) 1.20x (as calculated on a nine-months basis) for the fiscal quarter ending June 30, 2024, and (iv) 1.25 (as calculated on a twelve-months basis) for all other fiscal quarters. This amendment also increased the Capital Expenditure limit to $2,500,000 in any fiscal year. In connection with these changes, the Company paid an amendment of $20,000.

All amendment fees paid in connection with the Current Credit Facility that are for a future benefit of the Company are included in Deferred Financing Costs, Net, Deposits and Other Assets, in the accompanying consolidated balance sheets and are amortized over the term of the loan.

As of December 31, 2023, the Company has borrowing capacity of approximately $9,830,000 under the Revolving Loan (including $383,000 pursuant to the Capital Expenditure Line.

Solar Credit Facility

On August 16, 2023, the Company entered into a financing agreement (“Solar Credit Facility”) with Green Bank, a quasi-public agency of the State of Connecticut, for the installation of solar energy systems including replacing the existing roof (“Project”) at its Sterling facility. Advances are made by Green Bank upon its approval of costs incurred on the Project up to $934,553. As of December 31, 2023, an advance of $393,233 had been made including the payment of Green Bank’s closing costs of $25,233. Interest accrues at the rate of 5% on advances and is capitalized and added to the outstanding principal of the loan. Upon project completion, the cumulative total of the advances and capitalized interest will convert to a 20-year level payment term loan with interest accruing at the rate of 5.75%. Semi-annual payments are projected to be approximately $41,000 inclusive of interest over the 20-year term.

Finance Lease Obligations

The Company entered into a finance lease in November of 2022 for the purchase of new manufacturing equipment. Additionally, during May of 2023, the Company entered into an additional finance lease for the purchase of additional manufacturing equipment. The obligations for the finance leases totaled $884,000 and $328,000 as of December 31, 2023 and 2022, respectively. The leases have an average imputed interest rate of 7.31% per annum and are payable monthly with the final payments due between September of 2026 and May of 2030.

	Year Ended
	December 31,		December 31,
	2023		2022
Finance Lease cost:
Amortization of ROU assets	$	123,000	$	-
Interest on lease liabilities		50,000		2,182
Total lease Costs	$	173,000	$	2,182

Other Information:
Cash Paid for amounts included in the measurement lease liabilities:
Financing cash flow from finance lease obligations	$	123,000	$	284,000

Supplemental disclosure of non-cash activity
Acquisition of finance lease asset	$	679,000	$	350,000

	December 31,			December 31,
	2023			2022
Weighted Average Remaining Lease Term - in years		5.4			4.0
Weighted Average Discount rate - %		7.31	%		7.48	%

As of December 31, 2023, the aggregate future minimum finance lease payment, including imputed interest are as follows:

For the year ending	Amount
December 31, 2024	$	224,000
December 31, 2025		224,000
December 31, 2026		199,000
December 31, 2027		124,000
December 31, 2028		124,000
Thereafter		177,000
Total future minimum finance lease payments		1,072,000
Less: imputed interest		(188,000	)
Less: Current portion		(165,000	)
Long-term portion	$	719,000

Loans Payable – Financed Assets

The Company financed the purchase a delivery vehicle in July 2020. The loan obligation totaled $22,000 and $30,000 as of December 31, 2023 and 2022, respectively. The loan bears no interest and a final payment is due and payable for all unpaid principal on July 20, 2026.

Annual maturities of this loan are as follows:

For the year ending	Amount
December 31, 2024	$	9,000
December 31, 2025		9,000
December 31, 2026		4,000
Loans Payable - financed assets		22,000
Less: Current portion		(9,000	)
Long-term portion	$	13,000

Related Party Indebtedness

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 (together referred to as “Related Party Notes”) with Michael and Robert Taglich which generated proceeds to the Company totaling $6,550,000. In connection with issuance, 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.

The Related Party Notes outstanding as of December 31, 2023 consists of:

	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

Of the $6,162,000, approximately $2,732,000 bears an annual rate of interest of 6%, $2,080,000 bears an annual rate of 7% and $1,350,000 bears an annual interest rate of 12%. Interest expense for the years ended December 31, 2023 and 2022 was $472,000 and $487,000, respectively.

Approximately $2,732,000 of the 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 convertible subordinated notes can be converted at the option of the holder into common stock of the Company at $9.30 per share. The remaining $1,350,000 is not convertible. There are no principal payments due on these notes prior to July 1, 2026.

The Related Party Notes are subordinate to outstanding debt pursuant to the Current Credit Facility and mature on July 1, 2026.

The Company is allowed, subject to certain limitations, to make principal payments of $250,000 to reduce the value of outstanding Related Party Notes payable. During the year ended December 31, 2022, a principal payment of $250,000 was made against the Related Party Notes due to Michael Taglich. No payments were made in fiscal 2023.

- 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://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Stockholders’ Equity (Details) - USD ($)		3 Months Ended	12 Months Ended
Stockholders’ Equity (Details) - USD ($)	Oct. 04, 2023	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Stockholders’ Equity [Line Items]
Additional shares were issued	7,287
Common stock shares issued			3,303,045	3,247,937
Common Stock [Member]
Stockholders’ Equity [Line Items]
Additional shares were issued				7,287
Shares issued			55,108	27,849
Directors fees totaling (in Dollars)			$ 200,000	$ 216,000
Subsequent Event [Member]
Stockholders’ Equity [Line Items]
Directors fees totaling (in Dollars)		$ 38,000
Common stock shares issued		12,323

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 272
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-Paragraph 3
-Publisher FASB
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 272
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-Section S99
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-Publisher FASB
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (a)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-Subparagraph (b)
-Publisher FASB
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
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-Subparagraph (h)
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 18
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27)(b))
-Publisher FASB
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 3
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

+ Details

Operating Lease Liabilities (Details) - Schedule of Aggregate Undiscounted Cash Flows of Operating Lease Payments - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Schedule of Aggregate Undiscounted Cash Flows of Operating Lease Payments [Abstract]
December 31, 2024	$ 1,070,000
December 31, 2025	992,000
December 31, 2026	730,000
Total future minimum lease payments	2,792,000
Less: discount	(330,000)
Total operating lease maturities	2,462,000
Less: current portion of operating lease liabilities	(880,000)	$ (778,000)
Total long-term portion of operating lease maturities	$ 1,582,000	$ 2,463,000

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

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Significant Accounting Policies [Abstract]

Schedule of Composition of Customers Net Sales

The composition of customers that exceeded 10% of net sales in either 2023 or 2022 are shown below:

	Percentage of Net Sales
Customer	2023			2022
RTX ^(a)		27.3	%		40.6	%
Lockheed Martin		24.7	%		21.4	%
Boeing		12.2	%		0.0	%
United States Government		3.6	%		14.3	%

^(A)

RTX includes Collins Landing Systems and Collins Aerostructures

Schedule of Composition of Customers Accounts Receivable

The composition of customers that exceed 10% of accounts receivable in either 2023 or 2022 are shown below:

	Percentage of Net Receivables
Customer	2023			2022
RTX		45.5	%		56.7	%
Boeing		16.0	%		0.0	%
Lockheed Martin		3.7	%		13.6	%

^(A)

RTX includes Collins Landing Systems and Collins Aerostructures

Schedule of Revenue from Contracts with Customers

The following table summarizes revenue from contracts with customers for the years ended December 31, 2023 and 2022:

Product	December 31, 2023		December 31, 2022
Military	$	42,394,000	$	43,993,000
Commercial		9,122,000		9,245,000

Total	$	51,516,000	$	53,238,000

Schedule of Exercise Price Was Greater Than the Average Market Price

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

	December 31,		December 31,
	2023		2022
Stock Options		461,870		245,446
Warrants		-		28,000
		461,870		273,446

Schedule of Anti-Dilutive Due to the Net Loss

The following securities have been excluded from the calculation because the effect of including these potential shares was anti-dilutive due to the net loss incurred during these periods:

	December 31,		December 31,
	2023		2022
Stock Options		-		-
Convertible notes payable		405,800		405,800
		405,800		405,800

Operating Lease Liabilities (Details) - Schedule of Remaining Lease Terms - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Schedule of Remaining Lease Terms [Abstract]
Operating lease cost	$ 1,156,000	$ 972,000
Total lease cost	1,156,000	972,000
Other Information
Cash paid for amounts included in the measurement lease liability	1,038,000	1,006,000
Operating cash flow from operating leases	$ 1,038,000	$ 1,006,000

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Auditor [Table]
Auditor Name	Marcum LLP
Auditor Firm ID	688
Auditor Location	Saddle Brook, New Jersey

Debt (Details) - USD ($)							12 Months Ended
Debt (Details) - USD ($)	Nov. 20, 2023	Sep. 30, 2023	Aug. 04, 2023	Jan. 04, 2023	Dec. 15, 2022	May 17, 2022	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2024	Mar. 31, 2024	Aug. 16, 2023	Dec. 31, 2019
Debt [Line Items]
Webster facility							Dec. 30, 2025
Line of credit maximum borrowing facility												$ 20,000,000
Term loan												5,000,000
Equipment line of credit												$ 2,000,000
Line of credit advance				$ 739,500	$ 877,913
Principal payments				$ 8,804	$ 10,451
Balloon due date				Dec. 30, 2025	Dec. 30, 2025
Revolving line of credit, current							$ 10,804,000	$ 13,352,000
Term loan							5,045,000
Equipment line of credit remaining available							382,000
Interest expense							1,391,000	780,000
Amortization of deferred financing costs							$ 68,000	$ 65,000
Actual fixed charge coverage ratio							1.31%
Required fixed charge coverage ratio							0.95%
Excess cash flow percentage							25.00%
Description of sixth amendment							(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.
Average interest rate							7.55%	4.50%
Amount of term loan						$ 5,000,000
Capital expenditure line of credit						2,000,000	$ 383,000
Borrowed against capital expenditure							739,500	$ 878,000
Amendment fee paid	$ 20,000		$ 10,000			$ 20,000
Description of fifth amendment			●On August 4, 2023, the Company entered into a Fifth Amendment that waived a default caused by the failure by the Company to meet the required Fixed Charge Coverage Ratio for the fiscal quarter ended March 31, 2023. Additionally, the amendment provided for a revised Fixed Charge Ratio for the fiscal quarters ending June 30, 2023, and September 30, 2023, and increased the amount of purchase money secured debt (such as finance leases) the Company is allowed to have outstanding at any time to $2,000,000. In connection with this amendment, the Company paid an amendment fee of $10,000.
Purchase money secured debt allowed			$ 2,000,000
Description of sixth amendment	●On November 20, 2023, the Company entered into a Sixth Amendment that waived defaults caused by our failure to achieve the required Fixed Charge Coverage Ratio of the Fifth Amendment and because we purchased capital expenditures (as defined) in excess of permitted amounts. This amendment further revised the Fixed Charge Coverage Ratio by requiring it to be calculated on a rolling period basis and not be less than, (a) 1.10x (as calculated on a six-months basis) for the fiscal quarter ending March 31, 2024 (b) 1.20x (as calculated on a nine-months basis) for the fiscal quarter ending June 30, 2024, and (iv) 1.25 (as calculated on a twelve-months basis) for all other fiscal quarters. This amendment also increased the Capital Expenditure limit to $2,500,000 in any fiscal year. In connection with these changes, the Company paid an amendment of $20,000.
Fixed charge coverage ratio	1.25%
Capital expenditure	$ 2,500,000
Borrowing capacity under revolving loan							9,830,000
Cumulative Advance total		$ 393,233
Closing costs		$ 25,233
Payment term loan		20 years
Projected semi-annual payments							$ 41,000
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]							finance lease payment
Loan obligation							$ 22,000	30,000
Notes proceeds							6,550,000
Promissory notes							554,000
Non-convertible subordinated notes							1,350,000
Convertible subordinated notes							$ 4,812,000
Convertible common stock per share (in Dollars per share)							$ 15
Convertible subordinated notes							$ 2,080,000
Convertible conversion price per share (in Dollars per share)							$ 9.3
Related party notes amount paid								250,000
November 2022 [Member]
Debt [Line Items]
Finance Lease, Liability							$ 884,000
Maximum [Member]
Debt [Line Items]
Cumulative Advance total											$ 934,553
April 2022 [Member]
Debt [Line Items]
Excess cash flow payments								195,000
November 2022 [Member]
Debt [Line Items]
Finance Lease, Liability								328,000
Imputed interest rate							7.31%
2016-2020 [Member]
Debt [Line Items]
Common stock, shares issued (in Shares)							35,508
Revolving Line of Credit [Member]
Debt [Line Items]
Balloon amount on due date				$ 440,000	$ 512,000
Connecticut Green Bank [Member]
Debt [Line Items]
Interest rate percentage prior to project completion		5.00%
Interest rate percentage upon project completion		5.75%
Fourth Amendment [Member]
Debt [Line Items]
Subordinated debt payment allowed subject to certain limitations								250,000
Option [Member]
Debt [Line Items]
Convertible subordinated notes							$ 2,732,000
Forecast [Member]
Debt [Line Items]
Fixed charge coverage ratio									1.20%	1.10%
Michael & Robert & Taglich Brothers Inc [Member]
Debt [Line Items]
Interest expense							472,000	$ 487,000
Total related party debt							6,162,000
Michael & Robert & Taglich Brothers Inc [Member] \| Annual Intrest Rate 6 % [Member]
Debt [Line Items]
Total related party debt							$ 2,732,000
Annual interest rate							6.00%
Michael & Robert & Taglich Brothers Inc [Member] \| Annual Rate 7% [Member]
Debt [Line Items]
Total related party debt							$ 2,080,000
Annual interest rate							7.00%
Michael & Robert & Taglich Brothers Inc [Member] \| Annual Interest Rate 12% [Member]
Debt [Line Items]
Annual interest rate							12.00%
Michael & Robert Taglich Inc [Member] \| Annual Interest Rate 12% [Member]
Debt [Line Items]
Non-convertible subordinated notes							$ 1,350,000

Stock Options and Warrants

12 Months Ended

Dec. 31, 2023

Stock Options and Warrants [Abstract]

STOCK OPTIONS AND WARRANTS

Note 14. STOCK OPTIONS AND WARRANTS

Stock-Based Compensation

Stock Options

In September 2023, the shareholders of the Company approved the amendment to the 2022 Equity Incentive Plan (“2022 Plan”) to increase the number of shares authorized to be issued under the plan by 250,000 shares, from 100,000 shares to 350,000 shares. Additionally, this amendment to the 2022 Plan specified that the Company may grant Restricted Stock Units under the 2022 Plan.

During the years ended December 31, 2023 and 2022, the Company granted options to purchase 190,000 and 62,000 shares of common stock, respectively, to certain of its employees and directors.

The Company recorded stock-based compensation expense for certain employees and members of the Company’s Board of Directors of $482,000 and $526,000 in its consolidated statements of operations for the years ended December 31, 2023 and 2022, respectively, and such amounts were included as a component of operating expenses.

The fair values of stock options granted were estimated using the Black-Sholes option-pricing model with the following assumptions for the years ended December 31:

	2023			2022
Risk-free interest rates		3.70% - 3.97	%		1.38% - 2.73	%
Expected life (in years)		2.50 - 3.5			2.50 - 4.00
Expected volatility		61	%		71.6% - 72.0	%
Dividend yield		0.00	%		0.00	%

Weighted-average grant date fair value per share	$	3.46		$	3.97

The expected life is the number of years that the Company estimates, based upon history, that the options will be outstanding prior to exercise or forfeiture. Expected life is determined using the “simplified method” permitted by Staff Accounting Bulletin No. 107. In addition to the inputs referenced above regarding the option pricing model, the Company adjusts the stock-based compensation expense for estimated forfeiture rates that are revised prospectively according to forfeiture experience. The stock volatility factor is based on the Company’s experience.

A summary of the status of the Company’s stock options as of December 31, 2023 and 2022, and changes during the two years then ended are presented below.

				Wtd. Avg.
				Exercise
	Options			Price
Balance, January 1, 2022		246,850		$	12.54
Granted during the period		62,000			8.40
Exercised during the period		-			-
Terminated/Expired during the period		(5,800	)		12.04
Balance, December 31, 2022		303,050		$	11.70
Granted during the period		189,620			3.46
Exercised during the period		-			-
Terminated/Expired during the period		(30,800	)		13.60
Balance, December 31, 2023		461,870		$	8.34

Exercisable at December 31, 2023		397,539		$	8.94

Issuance of Stock Options

Issued in 2023

On May 23, 2023, the Company granted options to its directors and certain members of management and employees, stock options to purchase an aggregate of 108,620 shares of the Company’s common stock at a price of $3.43 per share. The options expire on the June 30, 2028 and vested immediately.

On June 2, 2023, 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 $3.50 per share. The options expire on the fifth anniversary of the grant date and vest over a term of one year.

On June 2, 2023, the Company granted to certain members of management and employees, stock options to purchase an aggregate of 75,000 shares of the Company’s common stock at a price of $3.50 per share. The options expire on the fifth anniversary of the grant date and vest over a term of three year.

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.

The following table summarizes information about outstanding stock options at December 31, 2023:

	Number			Wtd. Avg.
Range of Exercise Price	Outstanding		Wtd.Avg, Life	Exercise Price
$3.46 - $15.60		461,870	2.7 years	$	8.94

The following table summarizes information about exercisable stock options at December 31, 2022:

	Number			Wtd. Avg.
Range of Exercise Price	Exercisable		Wtd.Avg, Life	Exercise Price
$8.40 - $15.60		303,050	2.5 years	$	11.70

As of December 31, 2023, there was $95,000 of unrecognized compensation cost related to non-vested stock option awards, which is to be recognized over the remaining weighted average vesting period of 1.3 years.

The aggregate intrinsic value at December 31, 2023 was based on the Company’s closing stock price of $3.25 was $0. The aggregate intrinsic value at December 31, 2022 was based on the Company’s closing stock price of 4.25 was approximately $0. The aggregate intrinsic value was calculated based on the positive difference between the closing market price of the Company’s Common Stock and the exercise prices of the underlying options.

The weighted average fair value of options granted during the years ended December 31, 2023 and 2022 was $8.40 and $8.40 per share, respectively. The total intrinsic value of options exercised during the years ended December 31, 2023 and 2022 was $0. The total fair value of shares vested during the years ended December 31, 2023 and 2022 was $417,000 and $316,000, respectively.

Warrants

During both the years ended December 31, 2023 and 2022, the Company did not issue any warrants.

The following tables summarize the Company’s outstanding warrants as of December 31, 2023 and changes during the two years then ended:

						Wtd. Avg.
				Wtd. Avg.		Remaining
				Exercise		Contractual
	Warrants			Price		Life (years)
Balance, January 1, 2022		150,722		$	21.94		0.75
Granted during the period		-			-		-
Terminated/Expired during the period		(122,722	)		23.75		-
Balance, December 31, 2022		28,000		$	14.00		0.75
Granted during the period		-			-		-
Terminated/Expired during the period		(28,000	)	$	14.00		-
Balance, December 31, 2023		-		$	-		-

Exercisable at December 31, 2023		-		$	-		-

The aggregate intrinsic value at both December 31, 2023 and 2022 was $0 based on the Company’s closing stock price of $3.25 and $4.25, respectively.

Property and Equipment (Details) - USD ($)	12 Months Ended
Property and Equipment (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Property and Equipment [Abstract]
Depreciation expense	$ 2,268,000	$ 2,522,000