Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2022 | Nov. 14, 2022 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001128281 | |
Entity Registrant Name | Saker Aviation Services, Inc. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 000-52593 | |
Entity Incorporation, State or Country Code | NV | |
Entity Tax Identification Number | 87-0617649 | |
Entity Address, Address Line One | 20 South Street, Pier 6 East River | |
Entity Address, City or Town | New York | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 10004 | |
City Area Code | 212 | |
Local Phone Number | 776-4046 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 976,330 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
CURRENT ASSETS | ||
Cash and restricted cash | $ 4,714,669 | $ 2,446,906 |
Accounts receivable | 371,119 | 305,409 |
Assets held for sale | 1,175,706 | |
Inventories | 7,946 | 243,104 |
Income tax receivable | 119,899 | 693,578 |
Prepaid expenses | 237,154 | 505,718 |
Total current assets | 6,626,493 | 4,194,715 |
PROPERTY AND EQUIPMENT, net of accumulated depreciation and amortization of $3,022,745 and $3,005,828, respectively | 37,525 | 269,261 |
OTHER ASSETS | ||
Right of use assets | 324,111 | 387,860 |
Goodwill | 750,000 | |
Total other assets | 324,111 | 1,137,860 |
TOTAL ASSETS | 6,988,129 | 5,601,836 |
CURRENT LIABILITIES | ||
Accounts payable | 554,210 | 212,221 |
Customer deposits | 204,957 | 80,878 |
Accrued expenses | 430,155 | 404,573 |
Note Payable – Current | 57,240 | 9,315 |
Right of use leases payable – current portion | 339,169 | 45,697 |
Total current liabilities | 1,585,731 | 752,684 |
LONG-TERM LIABILITIES | ||
Note Payable – Long Term | 57,730 | |
Right of use leases payable - less current portion | 327,513 | |
Total liabilities | 1,585,731 | 1,137,927 |
STOCKHOLDERS’ EQUITY | ||
Common stock - $0.03 par value; authorized 3,333,334; 976,330 and 975,074 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively | 29,290 | 29,252 |
Additional paid-in capital | 19,775,296 | 19,740,837 |
Accumulated deficit | (14,402,188) | (15,306,180) |
TOTAL STOCKHOLDERS’ EQUITY | 5,402,398 | 4,463,909 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 6,988,129 | $ 5,601,836 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Accumulated Depreciation, Depletion and Amortization | $ 3,022,745 | $ 3,005,828 |
Preferred stock, par value (in dollars per share) | $ 0.03 | $ 0.03 |
Preferred stock, shares authorized (in shares) | 333,306 | 333,306 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.03 | $ 0.03 |
Common stock, shares authorized (in shares) | 3,333,334 | 3,333,334 |
Common stock, shares issued (in shares) | 976,330 | 975,074 |
Common stock, shares outstanding (in shares) | 976,330 | 975,074 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
REVENUE | $ 2,601,799 | $ 680,278 | $ 5,744,342 | $ 1,347,183 |
COST OF REVENUE | 1,009,247 | 173,970 | 2,283,422 | 301,825 |
GROSS PROFIT | 1,592,552 | 506,308 | 3,460,920 | 1,045,358 |
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES | 1,185,816 | 311,269 | 2,909,142 | 981,439 |
OPERATING INCOME FROM CONTINUING OPERATIONS | 406,736 | 195,039 | 551,778 | 63,919 |
OTHER INCOME | ||||
BAD DEBT RECOVERY | 125,000 | |||
LIFE INSURANCE PROCEEDS | 500,000 | |||
GAIN ON EXTINGUISHMENT OF DEBT | 304,833 | |||
TOTAL OTHER INCOME | 0 | 0 | 625,000 | 304,833 |
INCOME FROM CONTINUING OPERATIONS, before income taxes | 406,736 | 195,039 | 1,176,778 | 368,752 |
INCOME TAX EXPENSE | 141,000 | 3,938 | 240,000 | 8,364 |
INCOME FROM CONTINUING OPERATIONS | 265,736 | 191,101 | 936,778 | 360,388 |
(LOSS) INCOME FROM DISCONTINUED OPERATIONS, net of income taxes | (52,634) | 5,977 | (32,786) | 148,188 |
NET INCOME | $ 213,102 | $ 197,078 | $ 903,992 | $ 508,576 |
Basic Net Income Per Common Share (in dollars per share) | $ 0.22 | $ 0.19 | $ 0.93 | $ 0.49 |
Diluted Net Income Per Common Share (in dollars per share) | $ 0.22 | $ 0.19 | $ 0.91 | $ 0.49 |
Weighted Average Number of Common Shares – Basic (in shares) | 976,330 | 1,028,863 | 975,953 | 1,028,863 |
Weighted Average Number of Common Shares - Diluted (in shares) | 988,795 | 1,031,627 | 988,418 | 1,032,648 |
Statement of Condensed Consolid
Statement of Condensed Consolidated Stockholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2020 | 1,028,863 | |||
Balance at Dec. 31, 2020 | $ 30,866 | $ 19,909,230 | $ (16,032,364) | $ 3,907,732 |
Amortization of stock based compensation | 8,598 | 8,598 | ||
Net income | (265,666) | (265,666) | ||
Balance (in shares) at Mar. 31, 2021 | 1,028,863 | |||
Balance at Mar. 31, 2021 | $ 30,866 | 19,917,828 | (16,298,030) | 3,650,664 |
Balance (in shares) at Dec. 31, 2020 | 1,028,863 | |||
Balance at Dec. 31, 2020 | $ 30,866 | 19,909,230 | (16,032,364) | 3,907,732 |
Net income | 508,576 | |||
Balance (in shares) at Sep. 30, 2021 | 1,028,863 | |||
Balance at Sep. 30, 2021 | $ 30,866 | 19,935,024 | (15,523,788) | 4,442,102 |
Balance (in shares) at Mar. 31, 2021 | 1,028,863 | |||
Balance at Mar. 31, 2021 | $ 30,866 | 19,917,828 | (16,298,030) | 3,650,664 |
Amortization of stock based compensation | 8,598 | 8,598 | ||
Net income | 577,164 | 577,164 | ||
Balance (in shares) at Jun. 30, 2021 | 1,028,863 | |||
Balance at Jun. 30, 2021 | $ 30,866 | 19,926,426 | (15,720,866) | 4,236,426 |
Amortization of stock based compensation | 8,598 | 8,598 | ||
Net income | 197,078 | 197,078 | ||
Balance (in shares) at Sep. 30, 2021 | 1,028,863 | |||
Balance at Sep. 30, 2021 | $ 30,866 | 19,935,024 | (15,523,788) | 4,442,102 |
Balance (in shares) at Dec. 31, 2021 | 975,074 | |||
Balance at Dec. 31, 2021 | $ 29,252 | 19,740,837 | (15,306,180) | 4,463,909 |
Amortization of stock based compensation | 11,499 | 11,499 | ||
Net income | (31,152) | (31,152) | ||
Issuance of additional Common Stock in connection with cashless exercise of options (in shares) | 1,256 | |||
Issuance of additional Common Stock in connection with cashless exercise of options | $ 38 | (38) | 0 | |
Balance (in shares) at Mar. 31, 2022 | 976,330 | |||
Balance at Mar. 31, 2022 | $ 29,290 | 19,752,298 | (15,337,332) | 4,444,256 |
Balance (in shares) at Dec. 31, 2021 | 975,074 | |||
Balance at Dec. 31, 2021 | $ 29,252 | 19,740,837 | (15,306,180) | 4,463,909 |
Net income | 903,992 | |||
Balance (in shares) at Sep. 30, 2022 | 976,330 | |||
Balance at Sep. 30, 2022 | $ 29,290 | 19,775,296 | (14,402,188) | 5,402,398 |
Balance (in shares) at Mar. 31, 2022 | 976,330 | |||
Balance at Mar. 31, 2022 | $ 29,290 | 19,752,298 | (15,337,332) | 4,444,256 |
Amortization of stock based compensation | 11,499 | 11,499 | ||
Net income | 722,042 | 722,042 | ||
Balance (in shares) at Jun. 30, 2022 | 976,330 | |||
Balance at Jun. 30, 2022 | $ 29,290 | 19,763,797 | (14,615,290) | 5,177,797 |
Amortization of stock based compensation | 11,499 | 11,499 | ||
Net income | 213,102 | 213,102 | ||
Balance (in shares) at Sep. 30, 2022 | 976,330 | |||
Balance at Sep. 30, 2022 | $ 29,290 | $ 19,775,296 | $ (14,402,188) | $ 5,402,398 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 903,992 | $ 508,576 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Depreciation and amortization | 101,181 | 82,244 |
Stock based compensation | 34,497 | 25,794 |
Changes in operating assets and liabilities: | ||
Accounts receivable, trade | (65,710) | 5,679 |
Inventories | 13,437 | (69,365) |
Income tax receivable | 573,679 | |
Prepaid expenses | 268,564 | (179,151) |
Customer deposits | 124,079 | 2,512 |
Accounts payable | 341,989 | 90,787 |
Accrued expenses | 25,582 | (22,687) |
TOTAL ADJUSTMENTS | 1,417,298 | (64,187) |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 2,321,290 | 444,389 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase of property and equipment | (9,680) | (78,044) |
NET CASH USED IN INVESTING ACTIVITIES | (9,680) | (78,044) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Extinguishment of debt | (304,833) | |
Issuance of notes payable | 76,000 | |
Payment of right of use leases payable | (34,041) | (20,781) |
Repayment of notes payable | (9,806) | (5,520) |
NET CASH USED IN FINANCING ACTIVITIES | (43,847) | (255,134) |
NET CHANGE IN CASH AND RESTRICTED CASH | 2,267,763 | 111,211 |
CASH AND RESTRICTED CASH – Beginning | 2,446,906 | 1,899,082 |
CASH AND RESTRICTED CASH – Ending | 4,714,669 | 2,010,293 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
Reclassification of Inventory, Property and Equipment, net, Right of use assets and Goodwill to Assets held for .sale | 1,175,706 | |
Interest | 17,965 | 18,478 |
Income taxes | $ 194,006 | $ 8,364 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | NOTE 1 Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Saker Aviation Services, Inc. (the “Company”) and its subsidiaries have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial statements and in accordance with the instructions to Form 10 not 10 December 31, 2021. The condensed consolidated balance sheet as of September 30, 2022 three nine September 30, 2022 2021 September 30, 2022 three nine September 30, 2022 not three nine September 30, 2022 not The COVID- 19 19 March 17, 2020 July 20, 2020, 4 For the period July 20, 2020 March 31, 2022, April 2022, no 19 19 |
Note 2 - Liquidity and Material
Note 2 - Liquidity and Material Agreements | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Going Concern Disclosure [Text Block] | NOTE 2 Liquidity and Material Agreements As of September 30, 2022, nine September 30, 2022 . nine September 30, 2022, As disclosed in a Current Report on Form 8 March 21, 2018 March 15, 2018 three October 11, 2018, June 30, 2021. September 30, 2022 2021. The Key Bank Revolver Note, at the discretion of the Bank, provides for the Company to borrow up to $1,000,000 for working capital and general corporate purposes. This revolving line of credit is a demand note with no September 30, 2022 2021. On August 14, 2020, March 27, 2020. August 14, 2020, August 2025 1% October 31, 2021 not December 31, 2020, 470, 405 20, second 2021. The Company is party to a Concession Agreement, dated as of November 1, 2008, first $5,000,000, As disclosed in a Current Report on Form 8 February 5, 2016, not April 1, 2016. 2015 June 1, 2016, October 1, 2016 January 1, 2017. January 1, 2017. June 1, 2016, 2015 April 30, 2021 two one April 30, 2023 one The reductions under the Air Tour Agreement have negatively impacted the Company’s business and financial results as well as those of its management company at the Heliport, Empire Aviation which, as previously disclosed, is owned by two nine September 30, 2022 2021, 2021 2020. 2021 10 15. During the program year that began on May 1, 2020, April 2021, December 31, 2020. May 2021, April 30, 2021 May 1, 2021 December 31, 2021. March 2022, April 2022, January 2022 nine September 30, 2022 2021, On April 20, 2018, May 1, 2018 may September 30, 2022, 8. On May 1, 2021, April 30, 2022 April 30, 2028. September 30, 2022, 8. |
Note 3 - Summary of Significant
Note 3 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 3 Summary of Significant Accounting Policies Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, FirstFlight Heliports, LLC, and its fixed base operation and aircraft maintenance and repair services at Garden City (Kansas) Regional Airport. All significant inter-company accounts and transactions have been eliminated in consolidation. Cash and restricted cash The Company maintains its cash with various financial institutions which often exceeds federally insured limits. The Company has not September 30, 2022 2021. Net Income Per Common Share Net income was $903,992 and $508,576 for the nine September 30, 2022 2021, three September 30, 2022 2021, The following table sets forth the components used in the computation of basic net income per share: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Weighted average common shares outstanding, basic 976,330 1,028,863 975,953 1,028,863 Common shares upon exercise of options and warrants 12,465 2,764 12,465 3,785 Weighted average common shares outstanding, diluted 988,795 1,031,627 988,418 1,032,648 Stock-Based Compensation Stock-based compensation expense for all stock-based payment awards are based on the estimated grant-date fair value. The Company recognizes these compensation costs over the requisite service period of the award, which is generally the option vesting term. For the nine September 30, 2022 2021, September 30, 2022, Option valuation models require the input of highly subjective assumptions, including the expected life of the option. Because the Company's employee stock options have characteristics significantly different from those of traded options, and because changes in the subjective input assumptions can materially affect the fair value estimate, in management's opinion, the existing models do not |
Note 4 - Inventories
Note 4 - Inventories | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 4 Inventories Inventory consists primarily of aviation fuel, which the Company dispenses to its customers, and parts inventory for our MRO operation in Kansas. The Company also maintains fuel inventories for commercial airlines, to which it charges into-plane fees when servicing commercial aircraft. Inventories consist of the following: September 30, 2022 December 31, 2021 Parts inventory $ --- $ 102,763 Fuel inventory 7,946 115,364 Other inventory --- 24,977 Total inventory $ 7,946 $ 243,104 Included in fuel inventory are amounts held for third September 30, 2022 December 31, 2021, |
Note 5 - Related Parties
Note 5 - Related Parties | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 5 Related Parties As described in more detail in Note 2, |
Note 6 - Litigation
Note 6 - Litigation | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | NOTE 6 Litigation From time to time, the Company may one may not, |
Note 7 - Changes in Management
Note 7 - Changes in Management | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Changes in Management [Text Block] | NOTE 7 Changes in Management On June 29, 2022, 8 June 23, 2022. 8 July 11, 2022, |
Note 8 - Subsequent Events and
Note 8 - Subsequent Events and Discontinued Operations | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 8 Subsequent Events and Discontinued Operations As disclosed in a Current Report on Form 8 October 3, 2022, none seven not one hundred 100 As disclosed in a Current Report on Form 8 November 2, 2022, October 31, 2022 ( first GCK results of operations have been reported as discontinued operations in the Condensed Consolidated Statements of Operations for the three nine September 30, 2022 2021. September 30, 2022. Assets held for sale are as follows: September 30, 2022 Inventory $ 221,722 Property and equipment, net 181,398 Right of Use Asset 22,586 Goodwill 750,000 Total assets held for sale $ 1,175,706 Components of discontinued operations are as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Revenue $ 1,165,101 $ 771,539 $ 3,296,055 $ 2,092,794 Cost of revenue 1,040,797 607,406 2,832,759 1,540,362 Gross profit 124,304 164,133 463,296 552,432 Operating expenses 170,748 151,634 478,117 385,766 Operating (loss) income from discontinued operations (46,444 ) 12,499 (14,821 ) 166,666 Interest expense 6,190 6,522 17,965 18,478 Net (loss) gain from discontinued operations (52,634 ) 5,977 (32,786 ) 148,188 Basic net (loss) income per common share (0.05 ) 0.01 (0.03 ) 0.14 Weighted average number of shares outstanding, basic 976,330 1,028,863 975,953 1,028,863 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, FirstFlight Heliports, LLC, and its fixed base operation and aircraft maintenance and repair services at Garden City (Kansas) Regional Airport. All significant inter-company accounts and transactions have been eliminated in consolidation. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and restricted cash The Company maintains its cash with various financial institutions which often exceeds federally insured limits. The Company has not September 30, 2022 2021. |
Earnings Per Share, Policy [Policy Text Block] | Net Income Per Common Share Net income was $903,992 and $508,576 for the nine September 30, 2022 2021, three September 30, 2022 2021, The following table sets forth the components used in the computation of basic net income per share: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Weighted average common shares outstanding, basic 976,330 1,028,863 975,953 1,028,863 Common shares upon exercise of options and warrants 12,465 2,764 12,465 3,785 Weighted average common shares outstanding, diluted 988,795 1,031,627 988,418 1,032,648 |
Share-Based Payment Arrangement [Policy Text Block] | Stock-Based Compensation Stock-based compensation expense for all stock-based payment awards are based on the estimated grant-date fair value. The Company recognizes these compensation costs over the requisite service period of the award, which is generally the option vesting term. For the nine September 30, 2022 2021, September 30, 2022, Option valuation models require the input of highly subjective assumptions, including the expected life of the option. Because the Company's employee stock options have characteristics significantly different from those of traded options, and because changes in the subjective input assumptions can materially affect the fair value estimate, in management's opinion, the existing models do not |
Note 3 - Summary of Significa_2
Note 3 - Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Weighted average common shares outstanding, basic 976,330 1,028,863 975,953 1,028,863 Common shares upon exercise of options and warrants 12,465 2,764 12,465 3,785 Weighted average common shares outstanding, diluted 988,795 1,031,627 988,418 1,032,648 |
Note 4 - Inventories (Tables)
Note 4 - Inventories (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | September 30, 2022 December 31, 2021 Parts inventory $ --- $ 102,763 Fuel inventory 7,946 115,364 Other inventory --- 24,977 Total inventory $ 7,946 $ 243,104 |
Note 8 - Subsequent Events an_2
Note 8 - Subsequent Events and Discontinued Operations (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Disclosure of Long-Lived Assets Held-for-sale [Table Text Block] | September 30, 2022 Inventory $ 221,722 Property and equipment, net 181,398 Right of Use Asset 22,586 Goodwill 750,000 Total assets held for sale $ 1,175,706 |
Disposal Groups, Including Discontinued Operations [Table Text Block] | For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Revenue $ 1,165,101 $ 771,539 $ 3,296,055 $ 2,092,794 Cost of revenue 1,040,797 607,406 2,832,759 1,540,362 Gross profit 124,304 164,133 463,296 552,432 Operating expenses 170,748 151,634 478,117 385,766 Operating (loss) income from discontinued operations (46,444 ) 12,499 (14,821 ) 166,666 Interest expense 6,190 6,522 17,965 18,478 Net (loss) gain from discontinued operations (52,634 ) 5,977 (32,786 ) 148,188 Basic net (loss) income per common share (0.05 ) 0.01 (0.03 ) 0.14 Weighted average number of shares outstanding, basic 976,330 1,028,863 975,953 1,028,863 |
Note 2 - Liquidity and Materi_2
Note 2 - Liquidity and Material Agreements (Details Textual) | 3 Months Ended | 9 Months Ended | 11 Months Ended | 12 Months Ended | ||||||||||||||
May 01, 2021 USD ($) | Aug. 14, 2020 USD ($) | Apr. 20, 2018 USD ($) | Jan. 01, 2017 | Nov. 01, 2008 USD ($) | Sep. 30, 2022 USD ($) | Jun. 30, 2022 USD ($) | Mar. 31, 2022 USD ($) | Sep. 30, 2021 USD ($) | Jun. 30, 2021 USD ($) | Mar. 31, 2021 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Mar. 31, 2022 USD ($) | Dec. 31, 2021 | Dec. 31, 2015 | Apr. 30, 2022 USD ($) | Mar. 15, 2018 USD ($) | |
Cash and Cash Equivalents, at Carrying Value, Total | $ 4,714,669 | $ 4,714,669 | ||||||||||||||||
Working Capital | 5,040,762 | 5,040,762 | ||||||||||||||||
Revenue from Contract with Customer, Including Assessed Tax | 2,601,799 | $ 680,278 | 5,744,342 | $ 1,347,183 | ||||||||||||||
Net Income (Loss) Attributable to Parent, Total | 213,102 | $ 722,042 | $ (31,152) | $ 197,078 | $ 577,164 | $ (265,666) | 903,992 | 508,576 | ||||||||||
Net Cash Provided by (Used in) Operating Activities, Total | 2,321,290 | 444,389 | ||||||||||||||||
Net Cash Provided by (Used in) Investing Activities, Total | (9,680) | (78,044) | ||||||||||||||||
Net Cash Provided by (Used in) Financing Activities, Total | (43,847) | (255,134) | ||||||||||||||||
Environmental Remediation, Agreed Percentage of Reduction in Tenant Operated Tourist Flights | 20% | |||||||||||||||||
Environmental Remediation, Agreed Percentage of Reduction in Tenant Operated Tourist Flights by Year One | 40% | |||||||||||||||||
Environmental Remediation, Agreed Percentage of Reduction in Tenant Operated Tourist Flights by Year Two | 50% | |||||||||||||||||
General and Administrative Expense, Total | 1,622,000 | 0 | ||||||||||||||||
Concession Fees | 1,089,000 | $ 104,000 | ||||||||||||||||
Truck Lease [Member] | ||||||||||||||||||
Lessee, Finance Lease, Term of Contract (Month) | 60 months | |||||||||||||||||
Lessee, Finance Lease, Base Lease Payment | $ 2,568 | |||||||||||||||||
Capital Leases of Lessee, Contingent Rentals, Basis Spread on Variable Rate | 5.50% | |||||||||||||||||
Capital Lease, Lessee, Purchase Price of Capital Leased Asset | $ 1 | |||||||||||||||||
Concession Agreement [Member] | ||||||||||||||||||
Percentage Payable Greater than Gross Receipts During Period | 18% | 18% | ||||||||||||||||
Amount of Gross Receipts During Period | $ 5,000,000 | $ 100,000 | ||||||||||||||||
Percentage Payable Greater than Gross Receipts in Year One | 25% | |||||||||||||||||
Minimum Annual Guarantee Percent | 50% | |||||||||||||||||
Line of Credit Facility, Payment Term (Month) | 30 months | |||||||||||||||||
Line of Credit Facility, Number of Options to Extend Agreement | 2 | |||||||||||||||||
Paycheck Protection Program CARES Act [Member] | ||||||||||||||||||
Proceeds from Issuance of Long-term Debt, Total | $ 304,833 | |||||||||||||||||
Truck Note [Member] | ||||||||||||||||||
Debt Instrument, Face Amount | $ 76,000 | |||||||||||||||||
Debt Instrument, Number of Annual Payments | 6 | |||||||||||||||||
Debt Instrument, Periodic Payment, Interest | $ 13,432.56 | |||||||||||||||||
Debt Instrument Interest Rate, Per Gallon | $ 0.018 | |||||||||||||||||
Prime Rate [Member] | Truck Note [Member] | ||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 3% | |||||||||||||||||
Key Bank National Association [Member] | Term Loan [Member] | ||||||||||||||||||
Debt Instrument, Face Amount | $ 338,481 | |||||||||||||||||
Long-Term Debt, Current Maturities, Total | $ 0 | 0 | ||||||||||||||||
Acquisition Line of Credit [Member] | Key Bank National Association [Member] | ||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 2,500,000 | |||||||||||||||||
Working Capital Line of Credit [Member] | Key Bank National Association [Member] | ||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,000,000 | |||||||||||||||||
Debt Instrument, Periodic Payment, Total | $ 0 | |||||||||||||||||
Working Capital Line of Credit [Member] | Key Bank National Association [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.75% |
Note 3 - Summary of Significa_3
Note 3 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Net Income (Loss) Attributable to Parent, Total | $ 213,102 | $ 722,042 | $ (31,152) | $ 197,078 | $ 577,164 | $ (265,666) | $ 903,992 | $ 508,576 |
Share-Based Payment Arrangement, Expense | 34,497 | 25,794 | ||||||
Shares Based Compensation, Stock Options Unamortized Fair Value | 11,498 | |||||||
Concession Agreement with NYEDC, Required Deposit [Member] | ||||||||
Restricted Cash and Cash Equivalents, Current, Total | $ 425,000 | $ 425,000 | $ 425,000 | $ 425,000 |
Note 3 - Summary of Significa_4
Note 3 - Summary of Significant Accounting Policies - Computation of Basic Net Income Per Share (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Weighted average common shares outstanding, basic (in shares) | 976,330 | 1,028,863 | 975,953 | 1,028,863 |
Common shares upon exercise of options and warrants (in shares) | 12,465 | 2,764 | 12,465 | 3,785 |
Weighted average common shares outstanding, diluted (in shares) | 988,795 | 1,031,627 | 988,418 | 1,032,648 |
Note 4 - Inventories (Details T
Note 4 - Inventories (Details Textual) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Fuel [Member] | ||
Inventory Third Party | $ 1,929 | $ 28,042 |
Note 4 - Inventories - Summary
Note 4 - Inventories - Summary of Inventory (Details) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Inventories | $ 7,946 | $ 243,104 |
Parts [Member] | ||
Inventories | 102,763 | |
Fuel [Member] | ||
Inventories | $ 7,946 | 115,364 |
Other Inventory [Member] | ||
Inventories | $ 24,977 |
Note 8 - Subsequent Events an_3
Note 8 - Subsequent Events and Discontinued Operations (Details Textual) - Subsequent Event [Member] - GCK [Member] - USD ($) | Oct. 03, 2023 | Oct. 03, 2022 |
Disposal Group, Including Discontinued Operation, Consideration | $ 1.6 | |
Net Cash Provided by (Used in) Discontinued Operations, Total | $ 1.5 | |
Forecast [Member] | ||
Proceeds from Divestiture of Businesses and Interests in Affiliates, Total | $ 160,000 |
Note 8 - Subsequent Events an_4
Note 8 - Subsequent Events and Discontinued Operations - Disclosure of Assets Held for Sale (Details) - GCK [Member] | Sep. 30, 2022 USD ($) |
Inventory | $ 221,722 |
Property and equipment, net | 181,398 |
Right of Use Asset | 22,586 |
Goodwill | 750,000 |
Total assets held for sale | $ 1,175,706 |
Note 8 - Subsequent Events an_5
Note 8 - Subsequent Events and Discontinued Operations - Components of Discontinued Operations (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
(LOSS) INCOME FROM DISCONTINUED OPERATIONS, net of income taxes | $ (52,634) | $ 5,977 | $ (32,786) | $ 148,188 |
GCK [Member] | ||||
Revenue | 1,165,101 | 771,539 | 3,296,055 | 2,092,794 |
Cost of revenue | 1,040,797 | 607,406 | 2,832,759 | 1,540,362 |
Gross profit | 124,304 | 164,133 | 463,296 | 552,432 |
Operating expenses | 170,748 | 151,634 | 478,117 | 385,766 |
(LOSS) INCOME FROM DISCONTINUED OPERATIONS, net of income taxes | (46,444) | 12,499 | (14,821) | 166,666 |
Interest expense | 6,190 | 6,522 | 17,965 | 18,478 |
Net (loss) gain from discontinued operations | (52,634) | 5,977 | (32,786) | 148,188 |
Basic net (loss) income per common share | (0.05) | 0.01 | (0.03) | 0.14 |
Weighted average number of shares outstanding, basic | $ 976,330 | $ 1,028,863 | $ 975,953 | $ 1,028,863 |