Air Industries (AIRI) 10-Q 15 May 24 2024 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2024	May 14, 2024
Document Information Line Items
Entity Registrant Name	AIR INDUSTRIES GROUP
Trading Symbol	AIRI
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		3,324,785
Amendment Flag	false
Entity Central Index Key	0001009891
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Mar. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-35927
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	80-0948413
Entity Address, Address Line One	1460 Fifth Avenue
Entity Address, Address Line Two	Bay Shore
Entity Address, State or Province	NY
Entity Address, City or Town	New York
Entity Address, Postal Zip Code	11706
City Area Code	(631)
Local Phone Number	968-5000
Title of 12(b) Security	Common Stock
Security Exchange Name	NYSEAMER
Entity Interactive Data Current	Yes

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2024	Dec. 31, 2023
ASSETS
Cash	$ 225,000	$ 346,000
Accounts Receivable, Net of Allowance for Credit Losses of $321,000 and $344,000	8,035,000	7,892,000
Inventory	29,359,000	29,851,000
Prepaid Expenses and Other Current Assets	345,000	297,000
Contract Costs Receivable	296,000	296,000
Prepaid Taxes	37,000	37,000
Total Current Assets	38,297,000	38,719,000
Property and Equipment, Net	8,031,000	8,048,000
Finance Lease Right-of-Use Assets	932,000	970,000
Operating Lease Right-of-Use Assets	1,704,000	1,866,000
Deferred Financing Costs, Net, Deposits and Other Assets	1,298,000	1,112,000
TOTAL ASSETS	50,262,000	50,715,000
Current Liabilities
Debt	16,309,000	16,036,000
Accounts Payable and Accrued Expenses	6,275,000	6,091,000
Operating Lease Liabilities	907,000	880,000
Deferred Gain on Sale – Leaseback	38,000	38,000
Customer Deposits	3,158,000	3,557,000
Total Current Liabilities	26,687,000	26,602,000
Long Term Liabilities
Debt	1,465,000	1,112,000
Subordinated Notes - Related Party	6,162,000	6,162,000
Operating Lease Liabilities	1,345,000	1,582,000
Deferred Gain on Sale – Leaseback	57,000	67,000
TOTAL LIABILITIES	35,716,000	35,525,000
Commitments and Contingencies (see Note 7)
Preferred Stock, par value $.001 - Authorized 3,000,000 shares, 0 shares outstanding, at both March 31, 2024 and December 31, 2023.
Common Stock - Par Value $.001 - Authorized 6,000,000 shares, 3,315,368 and 3,303,045 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively	3,000	3,000
Additional Paid-In Capital	82,990,000	82,928,000
Accumulated Deficit	(68,447,000)	(67,741,000)
TOTAL STOCKHOLDERS’ EQUITY	14,546,000	15,190,000
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 50,262,000	$ 50,715,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts (in Dollars)	$ 321,000	$ 344,000
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	3,315,368	3,303,045
Common stock, shares outstanding	3,315,368	3,303,045

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net Sales	$ 14,061,000	$ 12,549,000
Cost of Sales	12,155,000	10,669,000
Gross Profit	1,906,000	1,880,000
Operating Expenses	2,165,000	2,038,000
Loss from Operations	(259,000)	(158,000)
Interest Expense	(344,000)	(358,000)
Other Income, Net	15,000	16,000
Loss before Income Taxes	(706,000)	(618,000)
Provision for Income Taxes
Net Loss	$ (706,000)	$ (618,000)
Loss per share - Basic (in Dollars per share)	$ (0.21)	$ (0.19)
Weighted Average Shares Outstanding - Basic (in Shares)	3,314,420	3,258,478
Related Party
Interest Expense - Related Parties	$ (118,000)	$ (118,000)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Loss per share - Diluted	$ (0.21)	$ (0.19)
Weighted-Average Shares Outstanding - Diluted	3,314,420	3,258,478

Changes in Condensed Consolidat

Changes in Condensed Consolidated Statements of Changes in Stockholders’ Equity - USD ($)	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2022	$ 3,000	$ 82,446,000	$ (65,610,000)	$ 16,839,000
Balance (in Shares) at Dec. 31, 2022	3,247,930
Common Stock issued to directors		54,000		54,000
Common Stock issued to directors (in Shares)	11,430
Stock-Based Compensation		45,000		45,000
Net Loss			(618,000)	(618,000)
Balance at Mar. 31, 2023	$ 3,000	82,545,000	(66,228,000)	16,320,000
Balance (in Shares) at Mar. 31, 2023	3,259,360
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
Common Stock issued to directors		38,000		38,000
Common Stock issued to directors (in Shares)	12,323
Stock-Based Compensation		24,000		24,000
Net Loss			(706,000)	(706,000)
Balance at Mar. 31, 2024	$ 3,000	$ 82,990,000	$ (68,447,000)	$ 14,546,000
Balance (in Shares) at Mar. 31, 2024	3,315,368

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net Loss	$ (706,000)	$ (618,000)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities
Depreciation of property and equipment	527,000	604,000
Stock-based compensation	62,000	99,000
Amortization of Finance Lease Right-of-Use Assets	38,000	13,000
Amortization of Operating Lease Right-of-Use Assets	162,000	146,000
Deferred gain on sale-leaseback	(10,000)	(10,000)
Allowance for credit losses	(23,000)	4,000
Allowance for inventory reserve	259,000	(50,000)
Amortization of deferred financing costs	17,000	17,000
(Increase) Decrease in Operating Assets:
Accounts receivable	(120,000)	2,206,000
Inventory	233,000	(573,000)
Prepaid expenses and other current assets	(48,000)	19,000
Prepaid taxes		(1,000)
Deposits and other assets	(198,000)	(105,000)
Increase (Decrease) in Operating Liabilities:
Accounts payable and accrued expenses	184,000	146,000
Operating lease liabilities	(210,000)	(186,000)
Customer deposits	(399,000)	(273,000)
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES	(232,000)	1,438,000
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	(111,000)	(973,000)
NET CASH USED IN INVESTING ACTIVITIES	(111,000)	(973,000)
CASH FLOWS FROM FINANCING ACTIVITIES
Note payable - revolver - net - Current Credit Facility	501,000	(132,000)
Proceeds from term loan - Current Credit Facility		740,000
Payments of term loan - Current Credit Facility	(236,000)	(208,000)
Payments of finance lease obligations	(41,000)	(20,000)
Payments of loan payable - financed asset	(2,000)	(1,000)
NET CASH PROVIDED BY FINANCING ACTIVITIES	222,000	379,000
NET (DECREASE) INCREASE IN CASH	(121,000)	844,000
CASH AT BEGINNING OF PERIOD	346,000	281,000
CASH AT END OF PERIOD	225,000	1,125,000
Supplemental cash flow information
Cash paid during the year for interest	456,000	476,000
Supplemental disclosure of non-cash investing and financing activities:
Financing from Solar Credit Facility directly to contractor	$ 399,000

Organization and Basis of Prese

Organization and Basis of Presentation	3 Months Ended
	Mar. 31, 2024
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”). The accompanying condensed consolidated financial statements presented are those of AIRI, and its wholly-owned subsidiaries; Air Industries Machining Corp. (“AIM”), Nassau Tool Works, Inc. (“NTW”), and the Sterling Engineering Corporation (“Sterling”) (together, the “Company”). Basis of Presentation The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and with Rule 8-03 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the Securities and Exchange Commission on April 15, 2024, from which the accompanying condensed consolidated balance sheet dated December 31, 2023 was derived. 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 condensed 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. For the three months ended March 31, 2024, the Company used $232,000 of cash for operating activities, compared to generating $1,438,000 for the same period in 2023. The debt under the Current Credit Facility amounted to approximately $16,119,000, reflecting an increase of $265,000 since December 31, 2023. Although the Company made $236,000 in required payments pursuant to the Current Credit Facility, as of the date of this filing, it failed to meet or obtain a waiver for maintaining the required Fixed Charge Coverage Ratio of 1.10x for the six months cumulative period ending March 31, 2024. As of March 31, 2024, total outstanding debt was $23,936,000, with the nature and terms of such debt further discussed in Note 5. Debt. Management’s plans expect net sales to increase in fiscal 2024 as compared to fiscal 2023 with increasing amounts into fiscal 2025 and thereafter. The Company believes that these plans are supported by the Company’s existing backlog, which increased from $98.1 million as of December 31, 2023 to $99.3 million at March 31, 2024. Further, it anticipates receiving additional funded orders during 2024 and 2025 pursuant to Long-Term Agreements (“LTA”) agreements from its key customers as well as from new customers. With this visibility, the Company expects that it will generate sufficient cash flow to make required principal payments (exclusive of any potential debt payment acceleration should the lender under the Current Credit Facility choose to exercise it) pursuant to the Current Credit Facility of approximately $944,000 over the next twelve months. Additionally, the Company is working with its existing lender to obtain adjusted or new financing that better meets the Company’s operating requirements and strategic goals. Although the Company has begun discussions to obtain a waiver of the requirement 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 classified the term loan that expires on December 30, 2025 in the amount of $4,814,000 and $5,045,000 as current as of March 31, 2024 and December 31, 2023, respectively, 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 it 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 Current Credit 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 filing these interim condensed consolidated financial statements. The accompanying condensed 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.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Note 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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 condensed consolidated statements of operations. The activity for the allowance for credit losses during the three months ended March 31, 2024 and 2023 is set forth in the table below: Charged Balance at to Costs and Deductions Balance at Period Expenses Reserves Period Three Months ended March 31, 2024 Allowance for Credit Losses $ 344,000 $ 26,000 $ (49,000 ) $ 321,000 Three Months ended March 31, 2023 Allowance for Credit Losses $ 281,000 $ 4,000 $ - $ 285,000 Inventory Valuation The Company values inventory at the lower of cost 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. Inventories consist of the following at: March 31, December 31, 2024 2023 Raw Materials $ 5,390,000 $ 5,213,000 Work In Progress 13,164,000 13,502,000 Semi - Finished Goods 12,468,000 12,590,000 Final - Finished Goods 1,839,000 1,789,000 Reserve (3,502,000 ) (3,243,000 ) Total Inventory $ 29,359,000 $ 29,851,000 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, other governments, or commercial airlines. The composition of customers that exceeded 10% of net sales in either the three months ended March 31, 2024 or 2023 are shown below: Percentage of Net Sales Customer 2024 2023 RTX (a) 30.7 % 22.8 % Lockheed Martin 25.9 % 24.3 % Northrop 11.0 % 3.7 % Ruag 4.2 % 10.0 % (a) RTX includes Collins Landing Systems and Collins Aerostructures The composition of customers that exceed 10% of accounts receivable at either March 31, 2024 or December 31, 2023 are shown below: Percentage of Net Receivables March 31, December 31, Customer 2024 2023 RTX (a) 52.6 % 45.5 % Boeing 0.0 % 16.0 % (a) RTX includes Collins Landing Systems and Collins Aerostructures Disaggregation of Revenue The following table summarizes revenue from contracts with customers for the three month periods ended March 31, 2024 and 2023: Product March 31, 2024 March 31, 2023 Military $ 10,385,000 $ 10,032,000 Commercial 3,676,000 2,517,000 Total $ 14,061,000 $ 12,549,000 Cash During the period ended March 31, 2024, 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 The Company utilizes sole-source suppliers to supply raw materials or other parts 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, the Company’s business would be severely harmed. Customer Deposits The Company receives advance payments on certain contracts with the remainder of the contract balance due upon the shipment of the final product once the customer inspects and approves the product for shipment. At that time, the entire amount will be recognized as revenue and the deposit will be applied to the customer’s invoice. At March 31, 2024 and December 31, 2023, customer deposits were $3,158,000 and $3,557,000 respectively. The Company recognized revenue of $399,000 during the three months ended March 31, 2024 that was included in customer deposits balance as of December 31, 2023.The Company recognized revenue of $273,000 during the three months ended March 31, 2023, that was included in the customer deposits balance as of December 31, 2022. Backlog Backlog represents the value of orders received pursuant to our Long-Term Agreements (“LTA”) or spot orders pursuant to a purchase order. As of March 31, 2024, backlog relating to remaining performance obligations on contracts was approximately $99.3 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 supplies 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 included in our backlog. 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 were $296,000 at both March 31, 2024 and December 31, 2023. Earnings (Loss) per share Basic earnings (loss) per share (“EPS”) is computed by dividing the net income (loss) applicable to common stockholders by the weighted-average number of shares of common stock outstanding for the period. For purposes of calculating diluted earnings (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 stock: Three Months Ended March 31, March 31, 2024 2023 Stock Options 234,750 302,550 Warrants - 28,000 234,750 330,550 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 that period: Three Months Ended March 31, March 31, 2024 2023 Stock Options 189,260 - Convertible notes payable 405,800 405,800 595,060 405,800 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-based compensation expense for employees amounted to $24,000 and $45,000 for the three months ended March 31, 2024 and 2023, respectively. Stock-based compensation expense for directors amounted to $38,000 and $54,000 for the three months ended March 31, 2024 and 2023, respectively. Stock compensation expenses for employees and directors were included in operating expenses in the accompanying condensed consolidated statements of operations. Recently Issued Accounting Pronouncements 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 condensed consolidated financial statements. The Company does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying condensed consolidated financial statements.

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2024
Property and Equipment [Abstract]
PROPERTY AND EQUIPMENT	Note 3. PROPERTY AND EQUIPMENT The components of property and equipment at March 31, 2024 and December 31, 2023 consisted of the following: March 31, December 31, 2024 2023 Land $ 300,000 $ 300,000 Buildings and Improvements 2,605,000 2,206,000 31.5 years Machinery and Equipment 24,509,000 24,552,000 5 - 8 years Tools and Instruments 14,368,000 14,314,000 1.5 - 7 years Automotive Equipment 266,000 266,000 5 years Furniture and Fixtures 299,000 299,000 5 - 8 years Leasehold Improvements 1,125,000 1,025,000 Term of lease Computers and Software 605,000 605,000 4 - 6 years Total Property and Equipment 44,077,000 43,567,000 Less: Accumulated Depreciation (36,046,000 ) (35,519,000 ) Property and Equipment, net $ 8,031,000 $ 8,048,000 Depreciation expense for the three months ended March 31, 2024 and 2023 was approximately $527,000 and $604,000, respectively. Assets held under finance lease obligations are depreciated over the shorter of their related lease terms or their estimated productive lives.

Operating Lease Liabilities

Operating Lease Liabilities	3 Months Ended
	Mar. 31, 2024
Operating Lease Liabilities [Abstract]
OPERATING LEASE LIABILITIES	Note 4. 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. Three Months Ended March 31, March 31, 2024 2023 Operating lease cost: $ 321,000 $ 271,000 Total lease cost $ 321,000 $ 271,000 Other Information Cash paid for amounts included in the measurement lease liability: 265,000 249,000 Operating cash flow from operating leases $ 265,000 $ 249,000 March 31, December 31, 2024 2023 Weighted Average Remaining Lease Term - in years 2.44 2.66 Weighted Average discount rate - % 9.14 % 9.10 % The aggregate undiscounted cash flows of operating lease payments as of March 31, 2024, with remaining terms greater than one year are as follows: Amount December 31, 2024 (remainder of year) $ 805,000 December 31, 2025 992,000 December 31, 2026 729,000 Total future minimum lease payments 2,526,000 Less: discount (274,000 ) Total operating lease maturities 2,252,000 Less: current portion of operating lease liabilities (907,000 ) Total long term portion of operating lease maturities $ 1,345,000

Debt

Debt	3 Months Ended
	Mar. 31, 2024
Debt [Abstract]
DEBT	Note 5. DEBT Total debt outstanding as of March 31, 2024 is $23,936,000 and was $23,310,000 at December 31, 2023. Indebtedness to third parties consists of the following: March 31, December 31, 2024 2023 Current Credit Facility - Revolver $ 11,305,000 $ 10,804,000 Current Credit Facility - Term Loan 4,814,000 5,045,000 Solar Credit Facility 792,000 393,000 Finance lease obligations 843,000 884,000 Loans Payable - financed assets 20,000 22,000 Subtotal 17,774,000 17,148,000 Less: Current portion (16,309,000 ) (16,036,000 ) Long-Term Portion $ 1,465,000 $ 1,112,000 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 capital expenditure 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 March 31, 2024, there is $11,305,000 outstanding under the Revolving Line of Credit and $4,814,000 under the Term Loan, inclusive of amounts drawn under the Equipment Line of Credit. Additionally, there was $383,000 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 March 31, 2024. The below table shows the timing of payments due under the Term Loan: For the year ending Amount December 31, 2024 (remainder of year) $ 709,000 December 31, 2025 4,143,000 Term Loan payable 4,852,000 Less: debt issuance costs (38,000 ) Total Term Loan payable, net of debt issuance costs 4,814,000 Less: Current portion of Term Loan payable (4,814,000 ) Total long-term portion of Term Loan payable $ - Interest expense related to the Current Credit Facility amounted to approximately $321,000 and $332,000 for the three months ended March 31, 2024 and 2023, respectively. Interest expense includes the amortization of deferred finance costs of $17,000 and $17,000 for the three months ending March 31, 2024 and 2023, respectively. 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 March 31, 2024, the Company achieved a Fixed Charge Coverage Ratio of 0.86 as compared to the 1.10x required, for the six months cumulative period ending March 31, 2024. ● 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. For the fiscal year ended December 31, 2023, based on the calculation there was 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 7.85% and 7.04% for the three months ended March 31, 2024 and 2023, 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 certain historical amendments to the Current Credit Facility ● 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 March 31, 2024, subject to having the requisite collateral and the discretion of the lender, the Company has borrowing capacity of approximately $9,078,000 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 March 31, 2024, cumulative advances totaling $792,157 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. Interest expense related to the Solar Credit Facility amounted to approximately $7,000 and $0 for the three months ended March 31, 2024 and 2023, respectively. Finance Lease Obligations The Company has entered into finance leases for the purchase of additional manufacturing equipment. The obligations for the finance leases totaled $843,000 and $884,000 as of March 31, 2024 and December 31, 2023, 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. Three Months Ended March 31, March 31, 2024 2023 Finance Lease cost: Amortization of ROU assets $ 38,000 $ 13,000 Interest on lease liabilities 16,000 6,000 Total lease Costs $ 54,000 $ 19,000 Other Information: Cash Paid for amounts included in the measurement lease liabilities: Financing cash flow from finance lease obligations $ 41,000 $ 20,000 Supplemental disclosure of non-cash activity Acquisition of finance lease asset $ - $ - March 31, December 31, 2024 2023 Weighted Average Remaining Lease Term - in years 5.3 5.4 Weighted Average Discount rate - % 7.31 % 7.31 % As of March 31, 2024, the aggregate future minimum finance lease payments For the year ending Amount December 31, 2024 (remainder of year) $ 168,000 December 31, 2025 224,000 December 31, 2026 199,000 December 31, 2027 124,000 December 31, 2028 124,000 Thereafter 176,000 Total future minimum finance lease payments 1,015,000 Less: imputed interest (172,000 ) Less: Current portion (168,000 ) Long-term portion $ 675,000 Loan Payable – Financed Asset The Company financed the purchase of a delivery vehicle in July 2020. The loan obligation totaled $20,000 and $22,000 as of March 31, 2024 and December 31, 2023, 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 (remainder of year $ 7,000 December 31, 2025 9,000 December 31, 2026 4,000 Loans Payable - financed assets 20,000 Less: Current portion (9,000 ) Long-term portion $ 11,000 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 these notes, Michael and Robert were issued a total of 35,508 shares of common stock and Taglich Brothers Inc. was issued promissory notes totaling $554,000 for placement agency fees The Related Party Notes outstanding as of the notes of March 31, 2024 and December 31, 2023 consist of: Michael Taglich, Robert Taglich, Taglich Chairman Director Brothers, 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 three months ended March 31, 2024 and 2023 on all related party notes payable was $118,000 and $118,000, 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 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 limitation, to make principal payments of $250,000 to reduce the value of the outstanding Related Party Notes. For the three months ended March 31, 2024 and 2023, no principal payments have been made on these notes.

Stockholders_ Equity

Stockholders’ Equity	3 Months Ended
	Mar. 31, 2024
Stockholders’ Equity [Abstract]
STOCKHOLDERS’ EQUITY	Note 6. STOCKHOLDERS’ EQUITY Common Stock – Issuances of Securities The Company issued 12,323 and 11,340 shares of common stock in payment of director fees totaling $38,000 and $54,000 for the three months ended March 31, 2024 and 2023, respectively. During the second quarter of 2024, the Company issued 7,942 shares of common stock in payment of directors’ fees totaling $38,000. During the second quarter of 2024, the Company issues 1,475 shares of common stock for the exercise of stock options.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	Note 7. 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 alleged violation of the terms of the subject sublease, specifically the failure to make the entire premises available by the Sublease commencement date. The validity of the action is extremely suspect in that the subject sublease had no specific commencement date and Contract Pharmacal ultimately received all the space. Discovery was conducted and the Plaintiff moved for summary judgement and to amend its complaint to add a new cause of action all of which the company opposed. On July 8, 2021, the Court denied Contract Phamacal’s motion for summary judgement and to add an additional cause of action. 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 both of which benefit the Company. Following the Court’s decision, Contract Pharmacal filed a Motion to reargue its original motion which the Company again opposed. The Court denied that motion on November 30, 2021 and then on March 10, 2022, Contract Pharmacal filed an appeal of the Court’s decision with the Appellate Division of the State of New York. Once again, the Company opposed that action. The Company was again successful as the Appellate Division upheld the lower court’s denial of Contract Pharmacal’s motion for summary judgement and its motion to amend its Complaint. Contract Pharmacal has now submitted a motion to the Appellate Division requesting leave to reargue the court’s denial of its original appeal. The Company will oppose that motion to reargue. The Company continues to dispute the validity of the claims asserted by Contract Pharmacal and intends to contest them vigorously. We anticipate that due to this newest action by Contract Pharmacal nothing of consequence will happen over the next twelve months. 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.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Taxes [Abstract]
INCOME TAXES	Note 8. INCOME TAXES The Company recorded no income tax expense for the three months ended March 31, 2024 and 2023 because the estimated annual effective tax rate was zero As of March 31, 2024, and December 31, 2023, the Company provided a full valuation allowance against its net deferred tax assets since the Company believes it is more likely than not that its deferred tax assets will not be realized.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	3 Months Ended
	Mar. 31, 2024
Summary of Significant Accounting Policies [Abstract]
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 condensed consolidated statements of operations. The activity for the allowance for credit losses during the three months ended March 31, 2024 and 2023 is set forth in the table below: Charged Balance at to Costs and Deductions Balance at Period Expenses Reserves Period Three Months ended March 31, 2024 Allowance for Credit Losses $ 344,000 $ 26,000 $ (49,000 ) $ 321,000 Three Months ended March 31, 2023 Allowance for Credit Losses $ 281,000 $ 4,000 $ - $ 285,000
Inventory Valuation	Inventory Valuation The Company values inventory at the lower of cost 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. Inventories consist of the following at: March 31, December 31, 2024 2023 Raw Materials $ 5,390,000 $ 5,213,000 Work In Progress 13,164,000 13,502,000 Semi - Finished Goods 12,468,000 12,590,000 Final - Finished Goods 1,839,000 1,789,000 Reserve (3,502,000 ) (3,243,000 ) Total Inventory $ 29,359,000 $ 29,851,000
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, other governments, or commercial airlines. The composition of customers that exceeded 10% of net sales in either the three months ended March 31, 2024 or 2023 are shown below: Percentage of Net Sales Customer 2024 2023 RTX (a) 30.7 % 22.8 % Lockheed Martin 25.9 % 24.3 % Northrop 11.0 % 3.7 % Ruag 4.2 % 10.0 % (a) RTX includes Collins Landing Systems and Collins Aerostructures The composition of customers that exceed 10% of accounts receivable at either March 31, 2024 or December 31, 2023 are shown below: Percentage of Net Receivables March 31, December 31, Customer 2024 2023 RTX (a) 52.6 % 45.5 % Boeing 0.0 % 16.0 % (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 three month periods ended March 31, 2024 and 2023: Product March 31, 2024 March 31, 2023 Military $ 10,385,000 $ 10,032,000 Commercial 3,676,000 2,517,000 Total $ 14,061,000 $ 12,549,000
Cash	Cash During the period ended March 31, 2024, 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 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, the Company’s business would be severely harmed.
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.
Backlog	Backlog Backlog represents the value of orders received pursuant to our Long-Term Agreements (“LTA”) or spot orders pursuant to a purchase order. As of March 31, 2024, backlog relating to remaining performance obligations on contracts was approximately $99.3 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 supplies 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 included in our backlog.
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 were $296,000 at both March 31, 2024 and December 31, 2023.
Earnings (Loss) per share	Earnings (Loss) per share Basic earnings (loss) per share (“EPS”) is computed by dividing the net income (loss) applicable to common stockholders by the weighted-average number of shares of common stock outstanding for the period. For purposes of calculating diluted earnings (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 stock: Three Months Ended March 31, March 31, 2024 2023 Stock Options 234,750 302,550 Warrants - 28,000 234,750 330,550 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 that period: Three Months Ended March 31, March 31, 2024 2023 Stock Options 189,260 - Convertible notes payable 405,800 405,800 595,060 405,800
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-based compensation expense for employees amounted to $24,000 and $45,000 for the three months ended March 31, 2024 and 2023, respectively. Stock-based compensation expense for directors amounted to $38,000 and $54,000 for the three months ended March 31, 2024 and 2023, respectively. Stock compensation expenses for employees and directors were included in operating expenses in the accompanying condensed consolidated statements of operations.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements 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 condensed consolidated financial statements. The Company does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying condensed consolidated financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2024
Summary of Significant Accounting Policies [Abstract]
Schedule of Activity for the Allowance for Credit Losses	The activity for the allowance for credit losses during the three months ended March 31, 2024 and 2023 is set forth in the table below: Charged Balance at to Costs and Deductions Balance at Period Expenses Reserves Period Three Months ended March 31, 2024 Allowance for Credit Losses $ 344,000 $ 26,000 $ (49,000 ) $ 321,000 Three Months ended March 31, 2023 Allowance for Credit Losses $ 281,000 $ 4,000 $ - $ 285,000
Schedule of Inventories Consist	Inventories consist of the following at: March 31, December 31, 2024 2023 Raw Materials $ 5,390,000 $ 5,213,000 Work In Progress 13,164,000 13,502,000 Semi - Finished Goods 12,468,000 12,590,000 Final - Finished Goods 1,839,000 1,789,000 Reserve (3,502,000 ) (3,243,000 ) Total Inventory $ 29,359,000 $ 29,851,000
Schedule of Composition of Customers Net Sales	The composition of customers that exceeded 10% of net sales in either the three months ended March 31, 2024 or 2023 are shown below: Percentage of Net Sales Customer 2024 2023 RTX (a) 30.7 % 22.8 % Lockheed Martin 25.9 % 24.3 % Northrop 11.0 % 3.7 % Ruag 4.2 % 10.0 % (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 at either March 31, 2024 or December 31, 2023 are shown below: Percentage of Net Receivables March 31, December 31, Customer 2024 2023 RTX (a) 52.6 % 45.5 % Boeing 0.0 % 16.0 % (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 three month periods ended March 31, 2024 and 2023: Product March 31, 2024 March 31, 2023 Military $ 10,385,000 $ 10,032,000 Commercial 3,676,000 2,517,000 Total $ 14,061,000 $ 12,549,000
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 stock: Three Months Ended March 31, March 31, 2024 2023 Stock Options 234,750 302,550 Warrants - 28,000 234,750 330,550
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 that period: Three Months Ended March 31, March 31, 2024 2023 Stock Options 189,260 - Convertible notes payable 405,800 405,800 595,060 405,800

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2024
Property and Equipment [Abstract]
Schedule of Property and Equipment	The components of property and equipment at March 31, 2024 and December 31, 2023 consisted of the following: March 31, December 31, 2024 2023 Land $ 300,000 $ 300,000 Buildings and Improvements 2,605,000 2,206,000 31.5 years Machinery and Equipment 24,509,000 24,552,000 5 - 8 years Tools and Instruments 14,368,000 14,314,000 1.5 - 7 years Automotive Equipment 266,000 266,000 5 years Furniture and Fixtures 299,000 299,000 5 - 8 years Leasehold Improvements 1,125,000 1,025,000 Term of lease Computers and Software 605,000 605,000 4 - 6 years Total Property and Equipment 44,077,000 43,567,000 Less: Accumulated Depreciation (36,046,000 ) (35,519,000 ) Property and Equipment, net $ 8,031,000 $ 8,048,000

Operating Lease Liabilities (Ta

Operating Lease Liabilities (Tables)	3 Months Ended
	Mar. 31, 2024
Operating Lease Liabilities [Abstract]
Schedule of Remaining Lease Terms	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. Three Months Ended March 31, March 31, 2024 2023 Operating lease cost: $ 321,000 $ 271,000 Total lease cost $ 321,000 $ 271,000 Other Information Cash paid for amounts included in the measurement lease liability: 265,000 249,000 Operating cash flow from operating leases $ 265,000 $ 249,000
Schedule of Operating and Finance Leases	March 31, December 31, 2024 2023 Weighted Average Remaining Lease Term - in years 2.44 2.66 Weighted Average discount rate - % 9.14 % 9.10 %
Schedule of Aggregate Undiscounted Cash Flows of Operating Lease Payments	The aggregate undiscounted cash flows of operating lease payments as of March 31, 2024, with remaining terms greater than one year are as follows: Amount December 31, 2024 (remainder of year) $ 805,000 December 31, 2025 992,000 December 31, 2026 729,000 Total future minimum lease payments 2,526,000 Less: discount (274,000 ) Total operating lease maturities 2,252,000 Less: current portion of operating lease liabilities (907,000 ) Total long term portion of operating lease maturities $ 1,345,000

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2024
Debt (Tables) [Line Items]
Schedule of Indebtedness to Third Parties	Indebtedness to third parties consists of the following: March 31, December 31, 2024 2023 Current Credit Facility - Revolver $ 11,305,000 $ 10,804,000 Current Credit Facility - Term Loan 4,814,000 5,045,000 Solar Credit Facility 792,000 393,000 Finance lease obligations 843,000 884,000 Loans Payable - financed assets 20,000 22,000 Subtotal 17,774,000 17,148,000 Less: Current portion (16,309,000 ) (16,036,000 ) Long-Term Portion $ 1,465,000 $ 1,112,000
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 (remainder of year) $ 709,000 December 31, 2025 4,143,000 Term Loan payable 4,852,000 Less: debt issuance costs (38,000 ) Total Term Loan payable, net of debt issuance costs 4,814,000 Less: Current portion of Term Loan payable (4,814,000 ) Total long-term portion of Term Loan payable $ -
Schedule of Finance Lease Obligations	The obligations for the finance leases totaled $843,000 and $884,000 as of March 31, 2024 and December 31, 2023, 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. Three Months Ended March 31, March 31, 2024 2023 Finance Lease cost: Amortization of ROU assets $ 38,000 $ 13,000 Interest on lease liabilities 16,000 6,000 Total lease Costs $ 54,000 $ 19,000 Other Information: Cash Paid for amounts included in the measurement lease liabilities: Financing cash flow from finance lease obligations $ 41,000 $ 20,000 Supplemental disclosure of non-cash activity Acquisition of finance lease asset $ - $ -
Schedule of Lease Term and Discount Rate	March 31, December 31, 2024 2023 Weighted Average Remaining Lease Term - in years 5.3 5.4 Weighted Average Discount rate - % 7.31 % 7.31 %
Schedule of Future Minimum Finance lease Payment	As of March 31, 2024, the aggregate future minimum finance lease payments For the year ending Amount December 31, 2024 (remainder of year) $ 168,000 December 31, 2025 224,000 December 31, 2026 199,000 December 31, 2027 124,000 December 31, 2028 124,000 Thereafter 176,000 Total future minimum finance lease payments 1,015,000 Less: imputed interest (172,000 ) Less: Current portion (168,000 ) Long-term portion $ 675,000
Schedule of Note Holders and the Principal Balance	The Related Party Notes outstanding as of the notes of March 31, 2024 and December 31, 2023 consist of: Michael Taglich, Robert Taglich, Taglich Chairman Director Brothers, 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 (remainder of year $ 7,000 December 31, 2025 9,000 December 31, 2026 4,000 Loans Payable - financed assets 20,000 Less: Current portion (9,000 ) Long-term portion $ 11,000

Organization and Basis of Pre_2

Organization and Basis of Presentation (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Organization and Basis of Presentation [Line Items]
Net cash provided by operating activities	$ (232,000)	$ 1,438,000
Line of Credit Facility, Increase (Decrease), Other, Net			$ 265,000
Required payments of debt	(236,000)	$ (208,000)
Total outstanding debt	23,936,000		23,310,000
Amount of backlog	99,300,000		98,100,000
Loan amount	4,814,000		$ 5,045,000
Revolving Credit Facility [Member]
Organization and Basis of Presentation [Line Items]
Line of Credit Facility, Increase (Decrease), Net	16,119,000
Long-Term Agreements [Member]
Organization and Basis of Presentation [Line Items]
Required payments of debt	$ 944,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Summary of Significant Accounting Policies [Line Items]
Customer deposits	$ 3,158,000		$ 3,557,000
Revenue	14,061,000	$ 12,549,000
Backlog relating to remaining performance obligations in contracts	99,300,000
Contract costs receivable	296,000		$ 296,000
Employees [Member]
Summary of Significant Accounting Policies [Line Items]
Stock-based compensation expense	24,000	45,000
Director [Member]
Summary of Significant Accounting Policies [Line Items]
Stock-based compensation expense	38,000	54,000
Customer Deposits [Member]
Summary of Significant Accounting Policies [Line Items]
Revenue	$ 399,000	$ 273,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of Activity for the Allowance for Credit Losses - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Activity for the Allowance for Credit Losses [Abstract]
Balance at Beginning of Period, Allowance for Credit Losses	$ 344,000	$ 281,000
Charged to Costs and Expenses, Allowance for Credit Losses	26,000	4,000
Deductions from Reserves, Allowance for Credit Losses	(49,000)
Balance at End of Period, Allowance for Credit Losses	$ 321,000	$ 285,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details) - Schedule of Inventories Consist - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Schedule of Inventories Consist [Abstract]
Raw Materials	$ 5,390,000	$ 5,213,000
Work In Progress	13,164,000	13,502,000
Semi - Finished Goods	12,468,000	12,590,000
Final - Finished Goods	1,839,000	1,789,000
Reserve	(3,502,000)	(3,243,000)
Total Inventory	$ 29,359,000	$ 29,851,000

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details) - Schedule of Composition of Customers Net Sales - Customer Concentration Risk [Member] - Revenue Benchmark [Member]		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
RTX [Member]
Schedule of Composition of Customers Net Sales [Line Items]
Percentage of Net Sales	[1]	30.70%	22.80%
Lockheed Martin [Member]
Schedule of Composition of Customers Net Sales [Line Items]
Percentage of Net Sales		25.90%	24.30%
Boeing [Member]
Schedule of Composition of Customers Net Sales [Line Items]
Percentage of Net Sales		11%	3.70%
Ruag [Member]
Schedule of Composition of Customers Net Sales [Line Items]
Percentage of Net Sales		4.20%	10%
[1]RTX includes Collins Landing Systems and Collins Aerostructures

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Details) - Schedule of Composition of Customers Accounts Receivable - Credit Concentration Risk [Member] - Accounts Receivable [Member]		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
RTX [Member]
Schedule of Composition of Customers Accounts Receivable [Line Items]
Concentration risk, percentage	[1]	52.60%	45.50%
Boeing [Member]
Schedule of Composition of Customers Accounts Receivable [Line Items]
Concentration risk, percentage		0%	16%
[1]RTX includes Collins Landing Systems and Collins Aerostructures

Summary of Significant Accoun_8

Summary of Significant Accounting Policies (Details) - Schedule of Revenue from Contracts with Customers - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue, Major Customer [Line Items]
Total	$ 14,061,000	$ 12,549,000
Military [Member]
Revenue, Major Customer [Line Items]
Total	10,385,000	10,032,000
Commercial [Member]
Revenue, Major Customer [Line Items]
Total	$ 3,676,000	$ 2,517,000

Summary of Significant Accoun_9

Summary of Significant Accounting Policies (Details) - Schedule of Exercise Price Was Greater Than the Average Market Price - Common Stock [Member] - shares	Mar. 31, 2024	Mar. 31, 2023
Schedule of Exercise Price Was Greater Than the Average Market Price [Line Items]
Stock Options	234,750	302,550
Warrants		28,000
Total	234,750	330,550

Summary of Significant Accou_10

Summary of Significant Accounting Policies (Details) - Schedule of Anti-Dilutive Due to the Net Loss - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Anti-Dilutive Due to the Net Loss [Line Items]
Total	595,060	405,800
Stock Options [Member]
Schedule of Anti-Dilutive Due to the Net Loss [Line Items]
Total	189,260
Convertible notes payables [Member]
Schedule of Anti-Dilutive Due to the Net Loss [Line Items]
Total	405,800	405,800

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Property and Equipment [Abstract]
Depreciation expense	$ 527,000	$ 604,000

Property and Equipment (Detai_2

Property and Equipment (Details) - Schedule of Property and Equipment - USD ($)	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 44,077,000	$ 43,567,000
Less: Accumulated Depreciation	(36,046,000)	(35,519,000)
Property and Equipment, net	8,031,000	8,048,000
Land [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	300,000	300,000
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 2,605,000	2,206,000
Property and equipment, useful lives	31 years 6 months
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 24,509,000	24,552,000
Tools and Instruments [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	14,368,000	14,314,000
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	299,000
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,125,000	1,025,000
Property and equipment, useful lives	Term of lease
Computers and Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 605,000	$ 605,000
Minimum [Member] | Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	5 years
Minimum [Member] | Tools and Instruments [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	1 year 6 months
Minimum [Member] | Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	5 years
Minimum [Member] | Computers and Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	4 years
Maximum [Member] | Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	8 years
Maximum [Member] | Tools and Instruments [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	7 years
Maximum [Member] | Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	8 years
Maximum [Member] | Computers and Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	6 years

Operating Lease Liabilities (De

Operating Lease Liabilities (Details)	Mar. 31, 2024
Minimum [Member]
Operating Lease Liabilities (Details) [Line Items]
Lease terms	1 year
Maximum [Member]
Operating Lease Liabilities (Details) [Line Items]
Lease terms	5 years

Operating Lease Liabilities (_2

Operating Lease Liabilities (Details) - Schedule of Remaining Lease Terms - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Remaining Lease Terms [Abstract]
Operating lease cost	$ 321,000	$ 271,000
Total lease Costs	321,000	271,000
Other Information
Operating cash flow from operating leases	265,000	249,000
Operating cash flow from operating leases	$ 265,000	$ 249,000

Operating Lease Liabilities (_3

Operating Lease Liabilities (Details) - Schedule of Operating and Finance Leases	Mar. 31, 2024	Dec. 31, 2023
Schedule of Operating and Finance Leases [Abstract]
Weighted Average Remaining Lease Term - in years	2 years 5 months 8 days	2 years 7 months 28 days
Weighted Average discount rate - %	9.14%	9.10%

Operating Lease Liabilities (_4

Operating Lease Liabilities (Details) - Schedule of Aggregate Undiscounted Cash Flows of Operating Lease Payments - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Schedule of Aggregate Undiscounted Cash Flows of Operating Lease Payments [Abstract]
December 31, 2024 (remainder of year)	$ 805,000
December 31, 2025	992,000
December 31, 2026	729,000
Total future minimum lease payments	2,526,000
Less: discount	(274,000)
Total operating lease maturities	2,252,000
Less: current portion of operating lease liabilities	(907,000)	$ (880,000)
Total long term portion of operating lease maturities	$ 1,345,000	$ 1,582,000

Debt (Details)

Debt (Details) - USD ($)						3 Months Ended		12 Months Ended
	Nov. 20, 2023	Sep. 30, 2023	Aug. 04, 2023	Jan. 04, 2023	Dec. 15, 2022	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Jun. 30, 2024	Aug. 16, 2023	Dec. 31, 2019
Debt [Line Items]
Total debt outstanding						$ 23,936,000		$ 23,310,000
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 amount on due date				$ 440,000	$ 512,000
Balloon due date				Dec. 30, 2025	Dec. 30, 2025
Revolving line of credit, current						$ 11,305,000		10,804,000
Term loan						4,814,000
Equipment line of credit remaining available						383,000
Interest expense						321,000	$ 332,000
Amortization of deferred financing costs						$ 17,000	$ 17,000
Actual fixed charge coverage ratio						0.86%
Required fixed charge coverage ratio						1.10%
Excess cash flow percentage						25%
Terms of interest rate						(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						7.85%	7.04%
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
Amendment fee paid	$ 20,000		$ 10,000
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%					1.10%			1.20%
Capital expenditure	$ 2,500,000
Equipment line of credit remaining available						$ 383,000
Finance Lease, Liability						$ 884,000		$ 843,000
Imputed interest rate						7.31%		7.31%
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]						finance lease payments
Loan payable financed asset						$ 20,000		$ 22,000
Notes proceeds						6,550,000
Promissory notes-Taglich brothers						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 allowed to be paid under certain limitation						$ 250,000
Revolving Loan [Member]
Debt [Line Items]
Borrowing capacity (including equipment line)						9,078,000
Connecticut Green Bank [Member]
Debt [Line Items]
Cumulative Advance total						792,157
Closing costs		$ 25,233
Interest rate percentage prior to project completion		5%
Payment term loan		20 years
Interest rate percentage upon project completion		5.75%
Projected semi-annual payments						41,000
Maximum [Member]
Debt [Line Items]
Cumulative Advance total										$ 934,553
Michael & Robert & Taglich Brothers Inc [Member]
Debt [Line Items]
Interest expense						$ 118,000	$ 118,000
Common stock, shares issued (in Shares)						35,508
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%
Michael & Robert & Taglich Brothers Inc [Member] | Annual Rate 7% [Member]
Debt [Line Items]
Total related party debt						$ 2,080,000
Annual interest rate						7%
Michael & Robert & Taglich Brothers Inc [Member] | Annual Interest Rate 12% [Member]
Debt [Line Items]
Annual interest rate						12%
Michael & Robert Taglich Inc [Member] | Annual Interest Rate 12% [Member]
Debt [Line Items]
Non-convertible subordinated notes						$ 1,350,000
Solar Credit Facility [Member]
Debt [Line Items]
Interest expense						7,000	$ 0
Option [Member]
Debt [Line Items]
Convertible subordinated notes						$ 2,732,000

Debt (Details) - Schedule of In

Debt (Details) - Schedule of Indebtedness to Third Parties - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Schedule of Debt [Abstract]
Current Credit Facility - Revolver	$ 11,305,000	$ 10,804,000
Current Credit Facility - Term Loan	4,814,000	5,045,000
Solar Credit Facility	792,000	393,000
Finance lease obligations	843,000	884,000
Loans Payable - financed assets	20,000	22,000
Subtotal	17,774,000	17,148,000
Less: Current portion	(16,309,000)	(16,036,000)
Long-Term Portion	$ 1,465,000	$ 1,112,000

Debt (Details) - Schedule of Pa

Debt (Details) - Schedule of Payments Due Under the Term Loan	Mar. 31, 2024 USD ($)
Schedule of Payments Due Under The Term Loan [Abstract]
December 31, 2024 (remainder of year)	$ 709,000
December 31, 2025	4,143,000
Term Loan payable	4,852,000
Less: debt issuance costs	(38,000)
Total Term Loan payable, net of debt issuance costs	4,814,000
Less: Current portion of Term Loan payable	(4,814,000)
Total long-term portion of Term Loan payable

Debt (Details) - Schedule of Fi

Debt (Details) - Schedule of Finance Lease Obligations - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Finance Lease cost:
Amortization of ROU assets	$ 38,000	$ 13,000
Interest on lease liabilities	16,000	6,000
Total lease Costs	54,000	19,000
Cash Paid for amounts included in the measurement lease liabilities:
Financing cash flow from finance lease obligations	41,000	20,000
Supplemental disclosure of non-cash activity
Acquisition of finance lease asset

Debt (Details) - Schedule of Le

Debt (Details) - Schedule of Lease Term and Discount Rate	Mar. 31, 2024	Dec. 31, 2023
Schedule of Lease Term and Discount Rate [Abstract]
Weighted Average Remaining Lease Term - in years	5 years 3 months 18 days	5 years 4 months 24 days
Weighted Average Discount rate - %	7.31%	7.31%

Debt (Details) - Schedule of Fu

Debt (Details) - Schedule of Future Minimum Finance lease Payment	Mar. 31, 2024 USD ($)
Schedule of Future Minimum Finance lease Payment [Abstract]
December 31, 2024 (remainder of year)	$ 168,000
December 31, 2025	224,000
December 31, 2026	199,000
December 31, 2027	124,000
December 31, 2028	124,000
Thereafter	176,000
Total future minimum finance lease payments	1,015,000
Less: imputed interest	(172,000)
Less: Current portion	(168,000)
Long-term portion	$ 675,000

Debt (Details) - Schedule of An

Debt (Details) - Schedule of Annual Maturities - Loans Payable – Financed Assets [Member]	Mar. 31, 2024 USD ($)
Debt (Details) - Schedule of Annual Maturities [Line Items]
December 31, 2024 (remainder of year	$ 7,000
December 31, 2025	9,000
December 31, 2026	4,000
Loans Payable - financed assets	20,000
Less: Current portion	(9,000)
Long-term portion	$ 11,000

Debt (Details) - Schedule of No

Debt (Details) - Schedule of Note Holders and the Principal Balance	Mar. 31, 2024 USD ($)
Debt (Details) - Schedule of Note Holders and the Principal Balance [Line Items]
Convertible Subordinated Notes	$ 4,812,000
Subordinated Notes	1,350,000
Total	6,162,000
Michael Taglich, Chairman [Member]
Debt (Details) - Schedule of Note Holders and the Principal Balance [Line Items]
Convertible Subordinated Notes	2,666,000
Subordinated Notes	1,000,000
Total	3,666,000
Robert Taglich, Director [Member]
Debt (Details) - Schedule of Note Holders and the Principal Balance [Line Items]
Convertible Subordinated Notes	1,905,000
Subordinated Notes	350,000
Total	2,255,000
Taglich Brothers, Inc. [Member]
Debt (Details) - Schedule of Note Holders and the Principal Balance [Line Items]
Convertible Subordinated Notes	241,000
Subordinated Notes
Total	$ 241,000

Stockholders_ Equity (Details)

Stockholders’ Equity (Details) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2024
Stockholders’ Equity [Line Items]
Additional shares were issued (in Shares)		12,323	11,340
Directors fees totaling		$ 38,000	$ 54,000
Exercise of stock options				$ 1,475
Subsequent Event [Member]
Stockholders’ Equity [Line Items]
Additional shares were issued (in Shares)	7,942
Directors fees totaling	$ 38,000

Commitments and Contingencies (

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

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Taxes [Line Items]
Annual effective tax rate