Crawford United (CRAWA) 10-Q 13 May 22 2022 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2022	Apr. 30, 2022
Document Information [Line Items]
Entity Central Index Key	0000047307
Entity Registrant Name	CRAWFORD UNITED Corp
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	000-000147
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	34-0288470
Entity Address, Address Line One	10514 Dupont Avenue, Suite 200
Entity Address, City or Town	Cleveland
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	44108
City Area Code	216
Local Phone Number	243-2614
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
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		731,848
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		2,708,777

Consolidated Balance Sheet (Cur

Consolidated Balance Sheet (Current Period Unaudited) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
CURRENT ASSETS:
Cash and cash equivalents	$ 3,398,214	$ 1,494,415
Accounts receivable less allowance for doubtful accounts	23,366,493	18,387,744
Contract assets	2,233,467	2,111,057
Inventories-less allowance for obsolete inventory	16,750,211	16,585,437
Investments	1,693,129	1,518,244
Refundable tax asset	1,131,244	1,316,595
Prepaid expenses and other current assets	1,284,963	1,112,068
Total Current Assets	49,857,721	42,525,560
Property, plant and equipment, net	15,404,805	15,609,202
Operating right of use asset, net	9,157,599	8,998,776
OTHER ASSETS:
Goodwill	15,612,954	14,404,618
Intangibles, net of accumulated amortization	10,317,334	9,336,564
Other non-current assets	105,643	88,591
Total Non-Current Other Assets	26,035,931	23,829,773
Total Assets	100,456,056	90,963,311
CURRENT LIABILITIES:
Notes payable – current	2,946,885	2,946,885
Bank debt – current	1,111,111	1,444,444
Leases payable – current	1,645,264	1,241,681
Accounts payable	13,147,038	11,460,364
Unearned revenue	4,442,763	2,881,535
Contingent liability – short term	750,000	750,000
Accrued expenses	2,974,350	3,136,690
Total Current Liabilities	27,017,411	23,861,599
LONG-TERM LIABILITIES:
Bank debt	21,556,354	16,175,436
Leases payable	7,775,861	7,985,628
Contingent liability – long-term	750,000	750,000
Deferred income taxes	3,275,370	3,275,370
Total Long-Term Liabilities	36,900,271	32,461,811
STOCKHOLDERS' EQUITY
Contributed capital	1,741,901	1,741,901
Treasury shares	(2,046,822)	(1,981,113)
Retained earnings	29,085,643	28,019,768
Total Stockholders' Equity	36,538,374	34,639,901
Total Liabilities and Stockholders' Equity	100,456,056	90,963,311
Common Class A [Member]
STOCKHOLDERS' EQUITY
Common stock	6,292,130	5,393,823
Common Class B [Member]
STOCKHOLDERS' EQUITY
Common stock	1,465,522	1,465,522
Notes Payable Excluding Paycheck Protection Program Cares Act [Member]
LONG-TERM LIABILITIES:
Notes Payable, Noncurrent	$ 3,542,686	$ 4,275,377

Consolidated Balance Sheet (C_2

Consolidated Balance Sheet (Current Period Unaudited) (Parentheticals) - shares	Mar. 31, 2022	Dec. 31, 2021
Common Class A [Member]
Common stock, sharse authorized (in shares)	10,000,000	10,000,000
Common stock, shares issued (in shares)	2,752,987	2,720,787
Treasury shares, issued (in shares)	44,210	41,844
Common Class B [Member]
Common stock, sharse authorized (in shares)	2,500,000	2,500,000
Common stock, shares issued (in shares)	914,283	914,283
Treasury shares, issued (in shares)	182,435	182,435

Consolidated Statement of Incom

Consolidated Statement of Income (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Total sales	$ 31,002,746	$ 23,994,004
Cost of Sales	24,636,341	17,991,083
Gross Profit	6,366,405	6,002,921
Operating Expenses:
Selling, General and administrative expenses	4,969,084	3,677,461
Operating Income	1,397,321	2,325,460
Other (Income) and Expenses:
Interest charges	261,016	218,618
Realized (gain) on investments	0	(152,761)
Unrealized (gain) on investments	(174,885)	(233,644)
PPP loan forgiveness	0	(1,453,837)
Other (income) expense, net	(329,901)	278,125
Total Other (Income) and Expenses	(243,758)	(1,343,499)
Income before Provision for Income Taxes	1,641,091	3,668,959
Provision for Income Taxes	575,216	525,542
Net Income	$ 1,065,875	$ 3,143,417
Net Income Per Common Share - Basic (in dollars per share)	$ 0.31	$ 0.93
Net Income Per Common Share - Diluted (in dollars per share)	$ 0.31	$ 0.93
Basic (in shares)	3,433,995	3,392,839
Diluted (in shares)	3,433,995	3,393,720

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)	Common Stock Including Additional Paid in Capital [Member]Common Class A [Member]	Common Stock Including Additional Paid in Capital [Member]Common Class B [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]Common Class A [Member]	Treasury Stock [Member]Common Class B [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Common Stock [Member]Common Class A [Member]	Common Stock [Member]Common Class B [Member]	Common Stock Outstanding [Member]Common Class A [Member]	Common Stock Outstanding [Member]Common Class B [Member]	Total
Balance at Dec. 31, 2020	$ 3,896,705	$ 1,465,522	$ 1,741,901			$ (1,938,052)	$ 22,366,470					$ 27,532,546
Share-based compensation expense	46,725											46,725
Stock awards	382,619											382,619
Stock option exercise	8,774	0	0			0	0					8,774
Acquisition	1,059,000	0	0			0	0					1,059,000
Repurchase of shares	0	0	0			(43,061)	0					(43,061)
Net income							5,653,298					5,653,298
Balance at Dec. 31, 2021	5,393,823	1,465,522	1,741,901			(1,981,113)	28,019,768					34,639,901
Balance (in shares) at Dec. 31, 2020				39,467	182,435			2,595,087	954,283	2,555,620	771,848
Stock awards (in shares)				0	0			23,700	0	23,700	0
Stock option exercise (in shares)				0	0			2,000	0	2,000	0
Acquisition (in shares)				0	0			60,000	0	60,000
Stock conversion (in shares)				0	0			40,000	40,000	40,000	40,000
Stock conversion (in shares)				0	0			(40,000)	(40,000)	(40,000)	(40,000)
Share repurchase (in shares)				2,377	0			0	0	(2,377)	0
Share repurchase (in shares)				(2,377)	0			0	0	2,377	0
Balance (in shares) at Dec. 31, 2021				41,844	182,435			2,720,787	914,283	2,678,943	731,848
Share-based compensation expense	16,307	0	0			0	0					16,307
Stock awards	882,000	0	0			0	0					882,000
Repurchase of shares	0	0	0			(65,709)	0					(65,709)
Net income	0	0	0			0	1,065,875					1,065,875
Balance at Mar. 31, 2022	$ 6,292,130	$ 1,465,522	$ 1,741,901			$ (2,046,822)	$ 29,085,643					$ 36,538,374
Stock awards (in shares)				0	0			32,200	0	32,200	0
Share repurchase (in shares)				2,366	0			0	0	2,366	0
Share repurchase (in shares)				(2,366)	0			0	0	(2,366)	0
Balance (in shares) at Mar. 31, 2022				44,210	182,435			2,752,987	914,283	2,708,777	731,848

Consolidated Statement of Cash

Consolidated Statement of Cash Flow (Unaudited) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Cash Flows from Operating Activities
Net Income	$ 1,065,875	$ 3,143,417	$ 5,653,298
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	932,003	724,641
Unrealized gain on investments in equity securities	(174,885)	(233,644)
Forgiveness of PPP loan	0	(1,453,837)
Non-cash share-based compensation expense	898,307	329,628
Changes in assets and liabilities:
Decrease (Increase) in accounts receivable	(4,506,870)	(967,662)
Decrease (Increase) in inventories	1,184,341	(319,455)
Decrease (Increase) in contract assets	(122,410)	(165,696)
Decrease (Increase) in prepaid expenses & other assets	(142,314)	268,510
Increase (Decrease) in accounts payable	(1,144,315)	633,307
Increase (Decrease) in accrued expenses	187,137	912,024
Increase (Decrease) in unearned revenue	1,561,228	(142,261)
Total adjustments	960,852	(1,681,059)
Net Cash Provided by Operating Activities	2,026,727	1,462,358
Cash Flows from Investing Activities
Cash paid for business acquisitions	(4,203,734)	(7,081,277)
Sale of equity securities	0	123,069
Capital expenditures	(151,436)	(827,184)
Net Cash (Used in) Investing Activities	(4,355,170)	(7,785,392)
Cash Flows from Financing Activities
Payments on notes	(732,691)	(562,500)
Payments on bank debt	(933,333)	(1,352,833)
Borrowings on bank debt	5,963,975	6,926,301
Share repurchase	(65,709)	(41,033)
Net Cash Provided by Financing Activities	4,232,242	4,969,935
Net Increase (decrease) in cash and cash equivalents	1,903,799	(1,353,099)
Cash and cash equivalents at beginning of period	1,494,415	6,194,276	6,194,276
Cash and cash equivalents at end of period	3,398,214	4,841,177	$ 1,494,415
Supplemental disclosures of cash flow information
Interest Paid	202,777	153,995
Supplemental disclosures of noncash financing activity
Issuance of Class A common shares in business acquisition	0	1,059,000
Paycheck Protection Program CARES Act [Member]
Supplemental disclosures of noncash financing activity
Forgiveness of PPP loan	$ 0	$ 1,453,837

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Basis of Accounting [Text Block]	1. BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10 8 X. not three March 31, 2022 not may December 31, 2022. 10 December 31, 2021. During the three March 31, 2022, no

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Company’s Summary of Significant Accounting Policies is provided with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10 December 31, 2021. New Accounting Standards Not In June 2016, 2016 13, December 15, 2022.The Use of Estimates in the Preparation of Financial Statements may Fair Value of Financial Instruments Fair Value Measurements As defined in FASB ASC 820, one three * Level 1: * Level 2: * Quoted prices for identical assets or similar assets or liabilities in inactive markets; * Inputs other than quoted prices that are observable for the asset or liability; * Inputs that are derived principally from or corroborated by observable market data by correlation or other means. * Level 3: not A financial instrument's categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Following is a description of the valuation methodologies used for instruments measured at fair value, including the general classification of such instruments pursuant to the valuation hierarchy. Stock: The stock market value is based on valuation of market quotes from independent active market sources, and is considered a level 1

Note 3 - Accounts Receivable

Note 3 - Accounts Receivable	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	3. ACCOUNTS RECEIVABLE The Company establishes an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends and other information. The reserve for doubtful accounts was $13,409 and $75,930 at March 31, 2022 December 31, 2021,

Note 4 - Inventory

Note 4 - Inventory	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Inventory Disclosure [Text Block]	4. INVENTORY Inventory is valued at the lower of cost ( first first March 31, 2022 December 31, 2021 Raw materials and component parts $ 3,390,216 $ 3,904,865 Work-in-process 4,019,377 3,949,647 Finished products 9,776,688 9,183,532 Total inventory $ 17,186,281 $ 17,038,044 Less: inventory reserves 436,070 452,607 Net inventory $ 16,750,211 $ 16,585,437

Note 5 - Goodwill and Other Int

Note 5 - Goodwill and Other Intangible Assets, Net	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	5. For the identified reporting units, impairment testing was performed as of December 31, 2021 December 31, 2021, no first 2022 December 31, 2021 March 31, 2022. Goodwill increased by $1.2 million from $14.4 million at December 31, 2021 March 31, 2022. Intangible assets relate to the purchase of businesses. Goodwill represents the excess of cost over the fair value of identifiable assets acquired. Goodwill is not one March 31, 2022 December 31, 2021 Customer list intangibles $ 9,241,000 $ 8,741,000 Non-compete agreements 200,000 200,000 Trademarks 4,399,149 3,599,149 Total intangible assets 13,840,149 12,540,149 Less: accumulated amortization 3,522,815 3,203,585 Intangible assets, net $ 10,317,334 $ 9,336,564 Amortization of intangibles assets was: $319,230 and $205,924 for the three March 31, 2022 2021,

Note 6 - Property, Plant and Eq

Note 6 - Property, Plant and Equipment, Net	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	6. PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment are recorded at cost and depreciated over their useful lives. Maintenance and repair costs are expenses as incurred. Property, plant and equipment are as follows: March 31, 2022 December 31, 2021 Land $ 231,034 $ 231,034 Buildings and improvements 3,164,362 2,961,431 Machinery & equipment 21,739,595 21,612,759 Total property, plant & equipment 25,134,991 24,805,224 Less: accumulated depreciation 9,730,186 9,196,022 Property plant & equipment, net $ 15,404,805 $ 15,609,202 Depreciation expense was $595,833 and $508,937 for the three March 31, 2022 2021,

Note 7 - Investments in Equity

Note 7 - Investments in Equity Securities	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	7. INVESTMENTS IN EQUITY SECURITIES Investments in equity securities are summarized in the table below: BALANCE AT BEGINNING OF YEAR ACQUISITIONS, DISPOSITIONS AND SETTLEMENTS UNREALIZED GAINS (LOSSES) INCLUDED IN EARNINGS REALIZED GAINS INCLUDED IN EARNINGS BALANCE AT END OF PERIOD December 31, 2021 $ 1,534,400 $ 19,698 $ (188,615 ) $ 152,761 $ 1,518,244 Year-to-date March 31, 2022 1,518,244 - 174,885 - 1,693,129 Investments by fair value level in the hierarchy as of March 31, 2022 December 31, 2021 Quoted Market Prices in Attractive Markets (Level 1) Models with Significant Observable Market Parameters (Level 2) Unobservable Inputs that are not Corroborated by Market Data (Level 3) Total Carrying Value in the Balance Sheet Common stock as of March 31, 2022 $ 1,693,129 $ - $ - $ 1,693,129 Common stock as of December 31, 2021 $ 1,518,244 $ - $ - $ 1,518,244

Note 8 - Bank Debt

Note 8 - Bank Debt	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Long-Term Debt [Text Block]	8. BANK DEBT The Company entered into a Credit Agreement on June 1, 2017 July 5, 2018 ( September 30, 2019 June 1, 2021 June 1, 2024. December 30, 2019 March 2, 2021 The revolving facility under the Credit Agreement includes a $3 million sublimit for the issuance of letters of credit thereunder. Interest for borrowings under the revolving facility accrues at a per annum rate equal to Prime Rate or LIBOR plus applicable margins of (i) (0.25%) for Prime Rate loans and (ii) 1.75% for LIBOR loans. The maturity date of the revolving facility is June 1, 2024. December 1, 2022. Bank debt balances consist of the following: March 31, 2022 December 31, 2021 Term debt $ 1,111,111 $ 1,444,444 Revolving debt 21,675,468 16,311,493 Total Bank debt 22,786,579 17,755,937 Less: current portion 1,111,111 1,444,444 Non-current bank debt 21,675,468 16,311,493 Less: unamortized debt costs 119,114 136,057 Net non-current bank debt $ 21,556,354 $ 16,175,436 The Company had $8.3 million and $13.7 million available to borrow on the revolving credit facility at March 31, 2022 December 31, 2021,

Note 9 - Notes Payable

Note 9 - Notes Payable	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Debt Disclosure [Text Block]	9. NOTES PAYABLE Notes Payable – Related Party The Company had two July 2016 July 2018 first second July 2018 In connection with the Komtek Forge acquisition, on January 15, 2021, one April 15, 2021. Notes Payable Seller Note Effective July 1, 2018, four no June 30, 2023 ( no not second first June 30, 2023. four 4 June 30, 2020 June 30, 2023; Notes payable consists of the following: March 31, 2022 December 31, 2021 In connection with the Komtek Forge acquisition, the Company refinanced the outstanding First Francis promissory notes, accrued interest payable through the refinance date and the assumed First Francis promissory note into one note on January 15, 2021 for a $3,779,784 $ 3,114,571 $ 3,284,762 In connection with the CAD acquisition, the Company entered into a promissory note on July 1, 2018 for a $9,000,000 3,375,000 3,937,500 Total notes payable 6,489,571 7,222,262 Less current portion 2,946,885 2,946,885 Notes payable – non-current portion $ 3,542,686 $ 4,275,377

Note 10 - Leases

Note 10 - Leases	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Lessee, Operating and Finance Leases [Text Block]	10. The Company has operating leases for facilities, vehicles and equipment. These leases have remaining terms of 2 years to 15 years, some of which include options to extend the leases for up to 10 years. Supplemental balance sheet information related to leases: March 31, 2022 December 31, 2021 Operating leases: Operating lease right-of-use assets, net $ 9,157,599 $ 8,998,776 Other current liabilities 1,645,264 1,241,681 Operating lease liabilities 7,775,861 7,985,628 Total operating lease liabilities $ 9,421,125 $ 9,227,309 Weighted Average Remaining Lease Term Operating Leases (in years) 9.0 9.0 Weighted Average Discount Rate Operating Leases 5.0 % 5.0 %

Note 11 - Earnings Per Common S

Note 11 - Earnings Per Common Share	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Earnings Per Share [Text Block]	11. The following table sets forth the computation of basic and diluted earnings per share. Three Months Ended March 31, 2022 2021 Earnings Per Share - Basic Net Income $ 1,065,875 $ 3,143,417 Weighted average shares of common stock outstanding - Basic 3,433,995 3,392,839 Earnings Per Share - Basic $ 0.31 $ 0.93 Earnings Per Share - Diluted Weighted average shares of common stock outstanding - Basic 3,433,995 3,392,839 Warrants, Options and Convertible Notes - 881 Weighted average shares of common stock -Diluted 3,433,995 3,393,720 Earnings Per Share - Diluted $ 0.31 $ 0.93

Note 12 - Acquisitions

Note 12 - Acquisitions	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	12. Effective January 15, 2021, January 15, 2021. Cash Consideration Transferred $ 840,551 Assumed Debt 1,753,757 Fair Value of Stock Consideration 1,059,000 Total Consideration $ 3,653,308 Cash $ 75,701 Accounts Receivable 1,502,713 Inventory 1,595,859 Fixed Assets 434,197 Prepaid and Other Assets 280,258 Goodwill 832,306 Total Assets Acquired $ 4,721,034 Accounts Payable $ 843,817 Accrued Expense 223,909 Total Liabilities Assumed $ 1,067,726 Total Fair Value $ 3,653,308 Acquisition transaction costs incurred were: $ 147,400 Goodwill Goodwill has an assigned value of $0.8 million and represents the expected synergies generated by combining the operations of Komtek and the Company. The Company purchases forgings to manufacture products for customers in the Industrial and Transportation Products segment and the Komtek acquisition strengthens the Company’s supply chain. Effective March 1, 2021, March 2, 2021 March 1, 2021. two Cash Consideration Transferred $ 4,926,035 Seller Transaction Costs and Repayment of Indebtedness 1,398,394 Total Consideration $ 6,324,429 Accounts Receivable $ 1,058,460 Inventory 173,202 Fixed Assets 3,233,073 Prepaid and Other Assets 189,214 Intangibles Asset: Trademark 1,162,000 Intangible Asset: Customer Lit 1,041,000 Goodwill 1,896,607 Total Assets Acquired $ 8,753,556 Accounts Payable $ 473,119 Accrued Payroll and Other Expense 456,008 Contingent Liability 1,500,000 Total Liabilities Assumed $ 2,429,127 Total Fair Value $ 6,324,429 Acquisition transaction costs incurred were: $ 190,007 Goodwill and Intangible Assets Goodwill has an assigned value of $1.9 million and represents the expected synergies generated by combining the operations of Global-Tek Colorado, Global-Tek-Manufacturing LLC and the Company. The Company utilizes machined parts for customers in the Industrial and Transportation Products segment and the acquisition of Global-Tek Colorado and Global-Tek-Manufacturing allows the Company to strengthen its supply chain. Intangible asset, trademark has an assigned value of $1.2 million which represents the expected value of the Global-Tek trade name in the market. Intangible asset, customer list has an assigned value of $1.0 million which represents the expected value of the list of the customers of Global-Tek to the Company. Contingent Consideration Global-Tek has a contingent consideration of $1.5 $750 two 61,475 61,475 $1.5 first second 2022 Effective July 1, 2021, July 1, 2021. Assumption of Indebtedness $ 287,359 Accounts Receivable 79,843 Inventory 67,254 Intangible Assets: Customer List 478,649 Total Assets Acquired $ 625,746 Accounts Payable $ 338,387 Total Liabilities Assumed $ 273,327 Total Fair Value $ 287,359 Acquisition transaction costs incurred were: $ 36,204 Intangible Assets Intangible asset, customer list has an assigned value of $0.5 million which represents the expected value of the list of the customers of Emergency Hydraulics to the Company. Effective January 10, 2022, January 10, 2022 Additionally, effective on January 10, 2022, SEP Cash Consideration Transferred $ 3,973,375 Seller Transaction Costs 230,359 Total Consideration $ 4,203,734 Accounts Receivable 471,879 Inventory 1,349,115 Fixed Assets 255,000 Prepaid and Other Assets 47,632 Intangible Asset: Customer List & Trademark 1,300,000 Goodwill 1,378,191 Total Assets Acquired $ 4,801,817 Accounts Payable $ 542,359 Accrued Expense 55,724 Total Liabilities Assumed $ 598,083 Total Fair Value $ 4,203,734 Acquisition transaction costs incurred were: $ 124,825 Goodwill Goodwill has an assigned value of $1.4 million and represents the expected synergies generated by combining the operations of Reverso, Separ, and the Company. The Company sells marine hoses and related products and the acquisition of Reverso Pumps and Separ America will allow the Company to expand its offerings to customers in the strategically important marine and defense markets. Intangible assets, customer list and trademarks has an assigned value of $1.3 million which represents the expected value of the list of the customers and trademarks of Reverso Pumps and Separ America.

Note 13 - Segment and Related I

Note 13 - Segment and Related Information	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	13. The Company elected to report operations for two business segments: ( 1 2 three two Commercial Air Handling Equipment: The Commercial Air Handling Equipment segment was added June 1, 2017, 50 Industrial and Transportation Products: The Industrial and Transportation Products segment was added July 1, 2016, July 1, 2018. 9001:2015/AS9100D, January 2, 2020. April 19, 2019, January 15, 2021. March 2, 2021. July 1, 2021. January 10, 2022. SEP January 10, 2022. Corporate and Other: Corporate costs not two Information by industry segment is set forth below: Three Months Ended March 31, 2022 Commercial Air Handling Industrial And Transportation Products Corporate and Other Consolidated Sales $ 11,557,874 $ 19,444,872 $ - $ 31,002,746 Gross Profit 2,629,657 3,736,748 - 6,366,405 Operating Income 1,562,344 1,281,985 (1,447,008 ) 1,397,321 Pretax Income 1,562,344 1,415,972 (1,337,225 ) 1,641,091 Net Income 1,117,076 946,234 (997,435 ) 1,065,875 Three Months Ended March 31, 2021 Commercial Air Handling Industrial And Transportation Products Corporate and Other Consolidated Sales $ 8,765,099 $ 15,228,905 $ - $ 23,994,004 Gross Profit 2,230,821 3,772,100 - 6,002,921 Operating Income 1,045,631 1,751,443 (471,614 ) 2,325,460 Pretax Income 1,045,631 3,025,970 (402,642 ) 3,668,959 Net Income 784,224 2,660,019 (300,826 ) 3,143,417

Note 14 - Subsequent Events

Note 14 - Subsequent Events	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Subsequent Events [Text Block]	14. Effective on May 1, 2022, May 1, 2022 March 2, 2001 ( Knitting Machinery acquired the assets of KMC on a debt-free basis in exchange for $250,000 in chase (the "Cash Payment") and the issuance by the Company on behalf of Knitting Machinery a total of 38,462 of its Class A Common Shares (the "Shares") at an implied price of $26.00 per share to the Equityholer. The Cash Payment is subject to a total or partial refund to the extent KMC's earnings before interest, tax, depreciation and amortization (EBITDA) is not twelve

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Standards Not In June 2016, 2016 13, December 15, 2022.The
Use of Estimates, Policy [Policy Text Block]	Use of Estimates in the Preparation of Financial Statements may
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments Fair Value Measurements As defined in FASB ASC 820, one three * Level 1: * Level 2: * Quoted prices for identical assets or similar assets or liabilities in inactive markets; * Inputs other than quoted prices that are observable for the asset or liability; * Inputs that are derived principally from or corroborated by observable market data by correlation or other means. * Level 3: not A financial instrument's categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Following is a description of the valuation methodologies used for instruments measured at fair value, including the general classification of such instruments pursuant to the valuation hierarchy. Stock: The stock market value is based on valuation of market quotes from independent active market sources, and is considered a level 1

Note 4 - Inventory (Tables)

Note 4 - Inventory (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 31, 2022 December 31, 2021 Raw materials and component parts $ 3,390,216 $ 3,904,865 Work-in-process 4,019,377 3,949,647 Finished products 9,776,688 9,183,532 Total inventory $ 17,186,281 $ 17,038,044 Less: inventory reserves 436,070 452,607 Net inventory $ 16,750,211 $ 16,585,437

Note 5 - Goodwill and Other I_2

Note 5 - Goodwill and Other Intangible Assets, Net (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	March 31, 2022 December 31, 2021 Customer list intangibles $ 9,241,000 $ 8,741,000 Non-compete agreements 200,000 200,000 Trademarks 4,399,149 3,599,149 Total intangible assets 13,840,149 12,540,149 Less: accumulated amortization 3,522,815 3,203,585 Intangible assets, net $ 10,317,334 $ 9,336,564

Note 6 - Property, Plant and _2

Note 6 - Property, Plant and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Property, Plant and Equipment [Table Text Block]	March 31, 2022 December 31, 2021 Land $ 231,034 $ 231,034 Buildings and improvements 3,164,362 2,961,431 Machinery & equipment 21,739,595 21,612,759 Total property, plant & equipment 25,134,991 24,805,224 Less: accumulated depreciation 9,730,186 9,196,022 Property plant & equipment, net $ 15,404,805 $ 15,609,202

Note 7 - Investments in Equit_2

Note 7 - Investments in Equity Securities (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Gain (Loss) on Securities [Table Text Block]	BALANCE AT BEGINNING OF YEAR ACQUISITIONS, DISPOSITIONS AND SETTLEMENTS UNREALIZED GAINS (LOSSES) INCLUDED IN EARNINGS REALIZED GAINS INCLUDED IN EARNINGS BALANCE AT END OF PERIOD December 31, 2021 $ 1,534,400 $ 19,698 $ (188,615 ) $ 152,761 $ 1,518,244 Year-to-date March 31, 2022 1,518,244 - 174,885 - 1,693,129
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block]	Quoted Market Prices in Attractive Markets (Level 1) Models with Significant Observable Market Parameters (Level 2) Unobservable Inputs that are not Corroborated by Market Data (Level 3) Total Carrying Value in the Balance Sheet Common stock as of March 31, 2022 $ 1,693,129 $ - $ - $ 1,693,129 Common stock as of December 31, 2021 $ 1,518,244 $ - $ - $ 1,518,244

Note 8 - Bank Debt (Tables)

Note 8 - Bank Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Schedule of Debt [Table Text Block]	March 31, 2022 December 31, 2021 Term debt $ 1,111,111 $ 1,444,444 Revolving debt 21,675,468 16,311,493 Total Bank debt 22,786,579 17,755,937 Less: current portion 1,111,111 1,444,444 Non-current bank debt 21,675,468 16,311,493 Less: unamortized debt costs 119,114 136,057 Net non-current bank debt $ 21,556,354 $ 16,175,436

Note 9 - Notes Payable (Tables)

Note 9 - Notes Payable (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Schedule of Long-Term Debt Instruments [Table Text Block]	March 31, 2022 December 31, 2021 In connection with the Komtek Forge acquisition, the Company refinanced the outstanding First Francis promissory notes, accrued interest payable through the refinance date and the assumed First Francis promissory note into one note on January 15, 2021 for a $3,779,784 $ 3,114,571 $ 3,284,762 In connection with the CAD acquisition, the Company entered into a promissory note on July 1, 2018 for a $9,000,000 3,375,000 3,937,500 Total notes payable 6,489,571 7,222,262 Less current portion 2,946,885 2,946,885 Notes payable – non-current portion $ 3,542,686 $ 4,275,377

Note 10 - Leases (Tables)

Note 10 - Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Lessee, Operating and Finance Lease, Assets and Liabilities [Table Text Block]	March 31, 2022 December 31, 2021 Operating leases: Operating lease right-of-use assets, net $ 9,157,599 $ 8,998,776 Other current liabilities 1,645,264 1,241,681 Operating lease liabilities 7,775,861 7,985,628 Total operating lease liabilities $ 9,421,125 $ 9,227,309 Weighted Average Remaining Lease Term Operating Leases (in years) 9.0 9.0 Weighted Average Discount Rate Operating Leases 5.0 % 5.0 %

Note 11 - Earnings Per Common_2

Note 11 - Earnings Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31, 2022 2021 Earnings Per Share - Basic Net Income $ 1,065,875 $ 3,143,417 Weighted average shares of common stock outstanding - Basic 3,433,995 3,392,839 Earnings Per Share - Basic $ 0.31 $ 0.93 Earnings Per Share - Diluted Weighted average shares of common stock outstanding - Basic 3,433,995 3,392,839 Warrants, Options and Convertible Notes - 881 Weighted average shares of common stock -Diluted 3,433,995 3,393,720 Earnings Per Share - Diluted $ 0.31 $ 0.93

Note 12 - Acquisitions (Tables)

Note 12 - Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2022
Reverso Pumps, Inc. [Member]
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Cash Consideration Transferred $ 3,973,375 Seller Transaction Costs 230,359 Total Consideration $ 4,203,734 Accounts Receivable 471,879 Inventory 1,349,115 Fixed Assets 255,000 Prepaid and Other Assets 47,632 Intangible Asset: Customer List & Trademark 1,300,000 Goodwill 1,378,191 Total Assets Acquired $ 4,801,817 Accounts Payable $ 542,359 Accrued Expense 55,724 Total Liabilities Assumed $ 598,083 Total Fair Value $ 4,203,734 Acquisition transaction costs incurred were: $ 124,825
Acquisition of Emergency Hydraulics LLC [Member]
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Assumption of Indebtedness $ 287,359 Accounts Receivable 79,843 Inventory 67,254 Intangible Assets: Customer List 478,649 Total Assets Acquired $ 625,746 Accounts Payable $ 338,387 Total Liabilities Assumed $ 273,327 Total Fair Value $ 287,359 Acquisition transaction costs incurred were: $ 36,204
Acquisition of Global Tek Manufacturing LLC [Member]
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Cash Consideration Transferred $ 4,926,035 Seller Transaction Costs and Repayment of Indebtedness 1,398,394 Total Consideration $ 6,324,429 Accounts Receivable $ 1,058,460 Inventory 173,202 Fixed Assets 3,233,073 Prepaid and Other Assets 189,214 Intangibles Asset: Trademark 1,162,000 Intangible Asset: Customer Lit 1,041,000 Goodwill 1,896,607 Total Assets Acquired $ 8,753,556 Accounts Payable $ 473,119 Accrued Payroll and Other Expense 456,008 Contingent Liability 1,500,000 Total Liabilities Assumed $ 2,429,127 Total Fair Value $ 6,324,429 Acquisition transaction costs incurred were: $ 190,007
Komtek Forge Acquisition [Member]
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Cash Consideration Transferred $ 840,551 Assumed Debt 1,753,757 Fair Value of Stock Consideration 1,059,000 Total Consideration $ 3,653,308 Cash $ 75,701 Accounts Receivable 1,502,713 Inventory 1,595,859 Fixed Assets 434,197 Prepaid and Other Assets 280,258 Goodwill 832,306 Total Assets Acquired $ 4,721,034 Accounts Payable $ 843,817 Accrued Expense 223,909 Total Liabilities Assumed $ 1,067,726 Total Fair Value $ 3,653,308 Acquisition transaction costs incurred were: $ 147,400

Note 13 - Segment and Related_2

Note 13 - Segment and Related Information (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended March 31, 2022 Commercial Air Handling Industrial And Transportation Products Corporate and Other Consolidated Sales $ 11,557,874 $ 19,444,872 $ - $ 31,002,746 Gross Profit 2,629,657 3,736,748 - 6,366,405 Operating Income 1,562,344 1,281,985 (1,447,008 ) 1,397,321 Pretax Income 1,562,344 1,415,972 (1,337,225 ) 1,641,091 Net Income 1,117,076 946,234 (997,435 ) 1,065,875 Three Months Ended March 31, 2021 Commercial Air Handling Industrial And Transportation Products Corporate and Other Consolidated Sales $ 8,765,099 $ 15,228,905 $ - $ 23,994,004 Gross Profit 2,230,821 3,772,100 - 6,002,921 Operating Income 1,045,631 1,751,443 (471,614 ) 2,325,460 Pretax Income 1,045,631 3,025,970 (402,642 ) 3,668,959 Net Income 784,224 2,660,019 (300,826 ) 3,143,417

Note 3 - Accounts Receivable (D

Note 3 - Accounts Receivable (Details Textual) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Accounts Receivable, Allowance for Credit Loss, Ending Balance	$ 13,409	$ 75,930

Note 4 - Inventory - Inventory

Note 4 - Inventory - Inventory (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Raw materials and component parts	$ 3,390,216	$ 3,904,865
Work-in-process	4,019,377	3,949,647
Finished products	9,776,688	9,183,532
Total inventory	17,186,281	17,038,044
Less: inventory reserves	436,070	452,607
Net inventory	$ 16,750,211	$ 16,585,437

Note 5 - Goodwill and Other I_3

Note 5 - Goodwill and Other Intangible Assets, Net (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Mar. 01, 2021
Goodwill, Period Increase (Decrease), Total	$ 1,200,000
Goodwill, Ending Balance	15,612,954		$ 14,404,618
Amortization of Intangible Assets	$ 319,230	$ 205,924
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	1 year
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	15 years
Reverso Pumps and Separ America [Member]
Goodwill, Acquired During Period	$ 1,400,000
Acquisition of Global Tek Manufacturing LLC [Member]
Goodwill, Ending Balance				$ 1,896,607
Goodwill, Purchase Accounting Adjustments	$ (200,000)

Note 5 - Goodwill and Other I_4

Note 5 - Goodwill and Other Intangible Assets, Net - Summary of Intangible Assets (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Other intangibles, gross	$ 13,840,149	$ 12,540,149
Less: accumulated amortization	3,522,815	3,203,585
Intangible assets, net	10,317,334	9,336,564
Customer-Related Intangible Assets [Member]
Other intangibles, gross	9,241,000	8,741,000
Noncompete Agreements [Member]
Other intangibles, gross	200,000	200,000
Trademarks [Member]
Other intangibles, gross	$ 4,399,149	$ 3,599,149

Note 6 - Property, Plant and _3

Note 6 - Property, Plant and Equipment, Net (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Depreciation, Total	$ 595,833	$ 508,937

Note 6 - Property, Plant and _4

Note 6 - Property, Plant and Equipment, Net - Schedule of Property, Plant, and Equipment (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Property Plant and Equipment, Gross	$ 25,134,991	$ 24,805,224
Less: accumulated depreciation	9,730,186	9,196,022
Property plant & equipment, net	15,404,805	15,609,202
Land [Member]
Property Plant and Equipment, Gross	231,034	231,034
Building and Building Improvements [Member]
Property Plant and Equipment, Gross	3,164,362	2,961,431
Machinery and Equipment [Member]
Property Plant and Equipment, Gross	$ 21,739,595	$ 21,612,759

Note 7 - Investments in Equit_3

Note 7 - Investments in Equity Securities - Summary of Investment in Equity Securities (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Balance	$ 1,518,244	$ 1,534,400
Acquisitions, Dispositions and Settlements	0	19,698
Unrealized Gains Included in Earnings	174,885	(188,615)
Realized Gains Included in Earnings	0	152,761
Balance	$ 1,693,129	$ 1,518,244

Note 7 - Investments in Equit_4

Note 7 - Investments in Equity Securities - Schedule of Fair Value of Investments (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Balance	$ 1,693,129	$ 1,518,244	$ 1,534,400
Reported Value Measurement [Member]
Balance	1,693,129	1,518,244
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member]
Balance	1,693,129	1,518,244
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member]
Balance	0	0
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member]
Balance	$ 0	$ 0

Note 8 - Bank Debt (Details Tex

Note 8 - Bank Debt (Details Textual) - USD ($)	Jul. 05, 2018	Jun. 30, 2021	Mar. 31, 2022	Dec. 31, 2021	Mar. 02, 2021	Sep. 30, 2019
Line of Credit Facility, Maximum Borrowing Capacity			$ 8,300,000	$ 13,700,000
J P Morgan Chase Bank [Member] | Term Debt [Member]
Long-term Debt, Total					$ 6,000,000
Debt Instrument, Periodic Payment, Total		$ 111,111
J P Morgan Chase Bank [Member] | Term Debt [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.25%
J P Morgan Chase Bank [Member] | Term Debt [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	2.25%
J P Morgan Chase Bank [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 12,000,000				$ 30,000,000	$ 20,000,000
Line of Credit Facility, Percent of Eligible Accounts	80.00%
Line of Credit Facility, Percent of Eligible Progress Billing Accounts	50.00%
Line of Credit Facility, Percent of Eligible Inventory	50.00%
Line of Credit Facility, Commitment Fee Percentage	0.25%
J P Morgan Chase Bank [Member] | Revolving Credit Facility [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.25%
J P Morgan Chase Bank [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	1.75%
J P Morgan Chase Bank [Member] | Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 3,000,000

Note 8 - Bank Debt - Summary of

Note 8 - Bank Debt - Summary of Loan Balances (Details) - Bank Debt [Member] - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Total Bank Debt	$ 22,786,579	$ 17,755,937
Less: current portion	1,111,111	1,444,444
Non-current bank debt	21,675,468	16,311,493
Less: unamortized debt costs	119,114	136,057
Net non-current bank debt	21,556,354	16,175,436
Term Debt [Member]
Total Bank Debt	1,111,111	1,444,444
Line of Credit [Member]
Total Bank Debt	$ 21,675,468	$ 16,311,493

Note 9 - Notes Payable (Details

Note 9 - Notes Payable (Details Textual) - USD ($)	Jul. 05, 2018	Jul. 01, 2018	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Jan. 15, 2021	Jan. 14, 2021	Jul. 01, 2016
Payments to Acquire Businesses, Gross			$ 4,203,734	$ 7,081,277
CAD Enterprises, Inc. [Member]
Business Combination, Consideration Transferred, Total		$ 21,000,000
Payments to Acquire Businesses, Gross		$ 12,000,000
Notes Payable [Member]
Notes Payable, Total			6,489,571		$ 7,222,262
Seller Note [Member] | CAD Enterprises, Inc. [Member]
Debt Instrument, Interest Rate, Stated Percentage		4.00%
Seller Note [Member] | Notes Payable [Member]
Debt Instrument, Face Amount			9,000,000		9,000,000
Notes Payable, Total			3,375,000		3,937,500
First Francis [Member] | Related Party Notes, One [Member] | Notes Payable [Member]
Debt Instrument, Face Amount								$ 2,000,000
First Francis [Member] | Related Party Notes, Two [Member] | Notes Payable [Member]
Debt Instrument, Face Amount								$ 2,768,662
First Francis [Member] | Related Party Notes [Member] | Notes Payable [Member]
Debt Instrument, Interest Rate, Stated Percentage	6.25%
Line of Credit Facility, Interest Rate During Period	4.00%
Notes Payable, Total							$ 2,077,384
First Francis [Member] | Related Party Notes [Member] | Notes Payable [Member] | Komtek Forge [Member]
Notes Payable, Total							$ 1,702,400
First Francis [Member] | Related Party Notes Three [Member] | Notes Payable [Member]
Debt Instrument, Face Amount			3,779,784
Debt Instrument, Interest Rate, Stated Percentage						6.25%
Notes Payable, Total			$ 3,114,571		$ 3,284,762	$ 3,779,784

Note 9 - Notes Payable - Notes

Note 9 - Notes Payable - Notes Payable (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021	Jan. 15, 2021
Less current portion	$ 2,946,885	$ 2,946,885
Notes Payable [Member]
Notes payable	6,489,571	7,222,262
Less current portion	2,946,885	2,946,885
Notes payable – non-current portion	3,542,686	4,275,377
Notes Payable [Member] | Related Party Notes Three [Member] | First Francis [Member]
Notes payable	3,114,571	3,284,762	$ 3,779,784
Notes Payable [Member] | Seller Note [Member]
Notes payable	$ 3,375,000	$ 3,937,500

Note 9 - Notes Payable - Note_2

Note 9 - Notes Payable - Notes Payable (Details) (Parentheticals) - Notes Payable [Member] - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Related Party Notes Three [Member] | First Francis [Member]
Notes payable, face value	$ 3,779,784
Seller Note [Member]
Notes payable, face value	$ 9,000,000	$ 9,000,000

Note 10 - Leases (Details Textu

Note 10 - Leases (Details Textual)	3 Months Ended
	Mar. 31, 2022
Lessee, Operating and Finance Lease, Renewal Term (Year)	10 years
Minimum [Member]
Operating and Finance Lease, Remaining Term (Year)	2 years
Maximum [Member]
Operating and Finance Lease, Remaining Term (Year)	15 years

Note 10 - Leases - Lease Assets

Note 10 - Leases - Lease Assets and Liabilities (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Operating lease right-of-use assets, net	$ 9,157,599	$ 8,998,776
Operating Leases (in years) (Year)	9 years	9 years
Operating Leases	5.00%	5.00%
Other Current Liabilities [Member]
Other current liabilities	$ 1,645,264	$ 1,241,681
Operating Lease Liabilities [Member]
Operating lease liabilities	7,775,861	7,985,628
Other Current Liabilities and Operating Lease Liabilities [Member]
Total operating lease liabilities	$ 9,421,125	$ 9,227,309

Note 11 - Earnings Per Common_3

Note 11 - Earnings Per Common Share - Summary of Earnings Per Share Calculation (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net Income	$ 1,065,875	$ 3,143,417
Weighted average shares of common stock outstanding - Basic (in shares)	3,433,995	3,392,839
Net Income Per Common Share - Basic (in dollars per share)	$ 0.31	$ 0.93
Warrants, Options and Convertible Notes (in shares)	0	881
Diluted (in shares)	3,433,995	3,393,720
Net Income Per Common Share - Diluted (in dollars per share)	$ 0.31	$ 0.93

Note 12 - Acquisitions (Details

Note 12 - Acquisitions (Details Textual) - USD ($)	Jan. 10, 2022	Jul. 01, 2021	Mar. 01, 2021	Jan. 15, 2021	Jun. 30, 2022	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Goodwill, Ending Balance						$ 15,612,954		$ 14,404,618
Payments to Acquire Businesses, Gross						$ 4,203,734	$ 7,081,277
Reverso Asset Purchase Agreement [Member] | Reverso Pumps, Inc. [Member]
Asset Acquisition, Consideration Transferred, Total	$ 2,600,000
Komtek Forge Acquisition [Member]
Business Combination, Consideration Transferred, Total				$ 3,653,308
Goodwill, Ending Balance				832,306
Payments to Acquire Businesses, Gross				840,551
Business Combination, Consideration Transferred, Liabilities Incurred				$ 1,753,757
Komtek Forge Acquisition [Member] | Common Class A [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares)				60,000
Acquisition of Global Tek Manufacturing LLC [Member]
Business Combination, Consideration Transferred, Total			$ 6,324,429
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares)			61,475
Goodwill, Ending Balance			$ 1,896,607
Payments to Acquire Businesses, Gross			4,926,035
Business Combination, Acquisition Related Costs and Payments for Debt			1,400,000
Business Combination, Contingent Consideration, Liability, Total			1,500,000
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Annual Value, High			750,000
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low			0
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High			1,500,000
Business Combination, Consideration Transferred, Liabilities Incurred			1,398,394
Acquisition of Global Tek Manufacturing LLC [Member] | Forecast [Member]
Payment for Contingent Consideration Liability, Operating Activities					$ 750,000
Acquisition of Global Tek Manufacturing LLC [Member] | Trade Names [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total			1,200,000
Acquisition of Global Tek Manufacturing LLC [Member] | Customer Lists [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total			$ 1,041,000
Acquisition of Emergency Hydraulics LLC [Member]
Business Combination, Consideration Transferred, Liabilities Incurred		$ 287,359
Acquisition of Emergency Hydraulics LLC [Member] | Customer Lists [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total		$ 478,649
Reverso Pumps, Inc. [Member]
Business Combination, Consideration Transferred, Total	4,203,734
Goodwill, Ending Balance	1,378,191
Payments to Acquire Businesses, Gross	3,973,375
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total	1,300,000
Business Combination, Consideration Transferred, Liabilities Incurred	230,359
Reverso Pumps, Inc. [Member] | Separ America [Member]
Payments to Acquire Businesses, Gross	1,600,000
Reverso Pumps, Inc. [Member] | Customer List and Trademarks [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total	$ 1,300,000

Note 12 - Acquisitions - Summar

Note 12 - Acquisitions - Summary Assets Acquired and Liabilities Assumed of Komtek Forge (Details) - USD ($)	Jan. 15, 2021	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Cash Consideration Transferred		$ 4,203,734	$ 7,081,277
Goodwill		$ 15,612,954		$ 14,404,618
Komtek Forge Acquisition [Member]
Cash Consideration Transferred	$ 840,551
Assumed Debt	1,753,757
Fair Value of Stock Consideration	1,059,000
Total Consideration	3,653,308
Cash	75,701
Accounts Receivable	1,502,713
Inventory	1,595,859
Fixed Assets	434,197
Prepaid and Other Assets	280,258
Goodwill	832,306
Total Assets Acquired	4,721,034
Accounts Payable	843,817
Accrued Expense	223,909
Total Liabilities Assumed	1,067,726
Total Fair Value	3,653,308
Acquisition transaction costs incurred were:	$ 147,400

Note 12 - Acquisitions - Summ_2

Note 12 - Acquisitions - Summary Assets Acquired and Liabilities Assumed of Global-Tek-Manufacturity, LLC (Details) - USD ($)	Mar. 01, 2021	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Cash Consideration Transferred		$ 4,203,734	$ 7,081,277
Goodwill		$ 15,612,954		$ 14,404,618
Acquisition of Global Tek Manufacturing LLC [Member]
Cash Consideration Transferred	$ 4,926,035
Assumed Debt	1,398,394
Total Consideration	6,324,429
Accounts Receivable	1,058,460
Inventory	173,202
Fixed Assets	3,233,073
Prepaid and Other Assets	189,214
Goodwill	1,896,607
Total Assets Acquired	8,753,556
Accounts Payable	473,119
Accrued Payroll and Other Expense	456,008
Contingent Liability	1,500,000
Total Liabilities Assumed	2,429,127
Total Fair Value	6,324,429
Acquisition transaction costs incurred were:	190,007
Acquisition of Global Tek Manufacturing LLC [Member] | Trademarks [Member]
Intangible Asset	1,162,000
Acquisition of Global Tek Manufacturing LLC [Member] | Customer Lists [Member]
Intangible Asset	$ 1,041,000

Note 12 - Acquisitions - Summ_3

Note 12 - Acquisitions - Summary Assets Acquired and Liabilities Assumed of Emergency Hydraulics, LLC (Details) - Acquisition of Emergency Hydraulics LLC [Member]	Jul. 01, 2021USD ($)
Assumption of Indebtedness	$ 287,359
Accounts Receivable	79,843
Inventory	67,254
Total Assets Acquired	625,746
Accounts Payable	338,387
Total Liabilities Assumed	273,327
Total Fair Value	287,359
Acquisition transaction costs incurred were:	36,204
Customer Lists [Member]
Intangible Asset	$ 478,649

Note 12 - Acquisitions - Summ_4

Note 12 - Acquisitions - Summary Assets Acquired and Liabilities Assumed of Reverso Pumps LLC (Details) - USD ($)	Jan. 10, 2022	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Cash Consideration Transferred		$ 4,203,734	$ 7,081,277
Goodwill		$ 15,612,954		$ 14,404,618
Reverso Pumps, Inc. [Member]
Cash Consideration Transferred	$ 3,973,375
Assumed Debt	230,359
Total Consideration	4,203,734
Accounts Receivable	471,879
Inventory	1,349,115
Fixed Assets	255,000
Prepaid and Other Assets	47,632
Intangible Asset	1,300,000
Goodwill	1,378,191
Total Assets Acquired	4,801,817
Accounts Payable	542,359
Accrued Expense	55,724
Total Liabilities Assumed	598,083
Total Fair Value	4,203,734
Acquisition transaction costs incurred were:	$ 124,825

Note 13 - Segment and Related_3

Note 13 - Segment and Related Information (Details Textual)	3 Months Ended
	Mar. 31, 2022
Number of Reportable Segments	2

Note 13 - Segment and Related_4

Note 13 - Segment and Related Information - Information by Industry Segment (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Sales	$ 31,002,746	$ 23,994,004
Gross Profit	6,366,405	6,002,921
Operating Income	1,397,321	2,325,460
Pretax Income	1,641,091	3,668,959
Net Income	1,065,875	3,143,417	$ 5,653,298
Commercial Air Handling [Member]
Sales	11,557,874	8,765,099
Gross Profit	2,629,657	2,230,821
Operating Income	1,562,344	1,045,631
Pretax Income	1,562,344	1,045,631
Net Income	1,117,076	784,224
Industrial and Transportation Products [Member]
Sales	19,444,872	15,228,905
Gross Profit	3,736,748	3,772,100
Operating Income	1,281,985	1,751,443
Pretax Income	1,415,972	3,025,970
Net Income	946,234	2,660,019
Corporate and Other [Member]
Sales		0
Gross Profit	0	0
Operating Income	(1,447,008)	(471,614)
Pretax Income	(1,337,225)	(402,642)
Net Income	$ (997,435)	$ (300,826)

Note 14 - Subsequent Events (De

Note 14 - Subsequent Events (Details Textual) - Subsequent Event [Member] - KMC Transaction [Member] - Knitting Machinery Company of America LLC [Member]	May 01, 2022USD ($)$ / sharesshares
Asset Acquisition, Consideration Transferred, Total | $	$ 250,000
Asset Acquisition, Shares Issued (in shares) | shares	38,462
Shares Issued, Price Per Share (in dollars per share) | $ / shares	$ 26