Crawford United (CRAWA) 10-Q 31 Jul 24 2024 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Jul. 29, 2024
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	Q2
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
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		2,809,060

Consolidated Balance Sheet (Cur

Consolidated Balance Sheet (Current Period Unaudited) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 1,629,872	$ 1,647,175
Accounts receivable less allowance for doubtful accounts	27,001,826	19,671,833
Contract assets	2,952,642	4,822,347
Inventories less allowance for obsolete inventory	19,349,126	17,672,622
Investments	86,608	665,301
Refundable tax asset	1,055,560	0
Prepaid expenses and other current assets	1,538,310	1,303,780
Total Current Assets	53,613,944	45,783,058
Property, plant and equipment, net	23,090,384	14,686,190
Operating lease right of use asset, net	6,331,794	8,356,903
OTHER ASSETS:
Goodwill	17,371,451	16,453,049
Intangibles, net of accumulated amortization	9,690,103	8,252,600
Other non-current assets	94,798	107,798
Total Non-Current Other Assets	27,156,352	24,813,447
Total Assets	110,192,474	93,639,598
CURRENT LIABILITIES:
Notes payable – current	850,185	824,226
Bank debt – current	136,775	0
Operating lease liabilities – current	1,117,484	1,714,174
Accounts payable	11,943,418	11,168,308
Unearned revenue	6,231,001	5,596,706
Accrued income taxes	0	539,876
Accrued expenses	3,985,824	3,292,787
Total Current Liabilities	24,264,687	23,136,077
LONG-TERM LIABILITIES:
Bank debt	15,526,746	5,096,672
Operating lease liabilities – noncurrent	5,424,255	6,901,043
Deferred income taxes	310,250	310,250
Total Long-Term Liabilities	21,299,777	12,778,174
STOCKHOLDERS' EQUITY
Contributed capital	1,741,901	1,741,901
Treasury shares	(2,489,295)	(2,237,026)
Retained earnings	54,156,306	47,875,964
Total Stockholders' Equity	64,628,010	57,725,347
Total Liabilities and Stockholders' Equity	110,192,474	93,639,598
Common Class A [Member]
STOCKHOLDERS' EQUITY
Common shares	9,753,576	8,878,986
Common Class B [Member]
STOCKHOLDERS' EQUITY
Common shares	1,465,522	1,465,522
Notes Payable Excluding Paycheck Protection Program Cares Act [Member]
LONG-TERM LIABILITIES:
Notes Payable, Noncurrent	$ 38,526	$ 470,209

Consolidated Balance Sheet (C_2

Consolidated Balance Sheet (Current Period Unaudited) (Parentheticals) - shares	Jun. 30, 2024	Dec. 31, 2023
Common Class A [Member]
Common stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, shares issued (in shares)	2,870,107	2,832,966
Treasury shares, issued (in shares)	61,047	54,074
Common Class B [Member]
Common stock, shares 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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Total sales	$ 37,636,088	$ 36,933,015	$ 76,075,727	$ 76,417,371
Cost of Sales	27,224,773	26,458,137	55,419,379	55,425,942
Gross Profit	10,411,315	10,474,878	20,656,348	20,991,429
Operating Expenses:
Selling, general and administrative expenses	5,295,134	5,322,514	10,966,077	10,719,797
Operating Income	5,116,181	5,152,364	9,690,271	10,271,632
Other (Income) and Expenses:
Interest charges	304,057	366,101	541,898	735,904
Loss (gain) on investments	261,389	(177,515)	379,466	(118,482)
Other (income) expense, net	(5,557)	(345,968)	66,706	(344,971)
Total Other Expenses and (Income)	559,889	(157,382)	988,070	272,451
Income before Provision for Income Taxes	4,556,292	5,309,746	8,702,201	9,999,181
Income tax expense	1,272,836	1,458,404	2,421,860	2,756,366
Net Income	$ 3,283,456	$ 3,851,342	$ 6,280,341	$ 7,242,815
Net Income Per Common Share - Basic (in dollars per share)	$ 0.93	$ 1.1	$ 1.78	$ 2.07
Net Income Per Common Share - Diluted (in dollars per share)	$ 0.92	$ 1.09	$ 1.77	$ 2.07
Basic (in shares)	3,540,656	3,507,108	3,536,834	3,504,978
Diluted (in shares)	3,552,513	3,518,386	3,545,473	3,507,286

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member] Common Class A [Member]	Common Stock [Member] Common Class B [Member]	Treasury Stock, Common [Member] Common Class A [Member]	Treasury Stock, Common [Member] Common Class B [Member]	Treasury Stock, Common [Member]	Common Stock Outstanding [Member] Common Class A [Member]	Common Stock Outstanding [Member] Common Class B [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2022	$ 7,351,563	$ 1,465,522			$ (2,125,252)			$ 1,741,901	$ 34,581,171	$ 43,014,905
Share-based compensation expense	928,788	0			0			0	0	928,788
Stock issuance (see note 6)	150,000	0			0			0	0	150,000
Net Income	$ 0	$ 0			0			0	7,242,815	7,242,815
Balance (in shares) at Dec. 31, 2022	2,791,449	914,283	47,412	182,435		2,744,037	731,848
Stock issuance (see note 6) (in shares)	7,317	0	0	0		7,317	0
Share repurchase	$ 0	$ 0			(111,775)			0	0	(111,775)
Balance at Jun. 30, 2023	$ 8,430,351	$ 1,465,522			(2,237,027)			1,741,901	41,823,985	51,224,732
Stock forfeit (in shares)	(500)	0	0	0		(500)	0
Share repurchase (in shares)	0	0	6,662	0			0
Share repurchase (in shares)						(6,662)
Stock awards issued to directors and officers (in shares)	34,700	0	0	0		34,700	0
Balance (in shares) at Jun. 30, 2023	2,832,966	914,283	54,074	182,435		2,778,892	731,848
Balance at Mar. 31, 2023	$ 7,844,228	$ 1,465,522			(2,196,437)			1,741,901	37,972,643	46,827,857
Share-based compensation expense	436,123	0			0			0	0	436,123
Stock issuance (see note 6)	150,000	0			0			0	0	150,000
Net Income	$ 0	$ 0			0			0	3,851,342	3,851,342
Balance (in shares) at Mar. 31, 2023	2,826,149	914,283	52,274	182,435		2,773,875	731,848
Stock issuance (see note 6) (in shares)	7,317	0	0	0		7,317	0
Share repurchase	$ 0	$ 0			(40,590)			0	0	(40,590)
Balance at Jun. 30, 2023	$ 8,430,351	$ 1,465,522			(2,237,027)			1,741,901	41,823,985	51,224,732
Stock forfeit (in shares)	(500)	0	0	0		(500)	0
Share repurchase (in shares)	0	0	1,800	0			0
Share repurchase (in shares)						(1,800)
Balance (in shares) at Jun. 30, 2023	2,832,966	914,283	54,074	182,435		2,778,892	731,848
Balance at Dec. 31, 2023	$ 8,878,986	$ 1,465,522			(2,237,026)			1,741,901	47,875,964	57,725,347
Share-based compensation expense	844,579	0			0			0	0	844,579
Stock issuance (see note 6)	30,011	0			0			0	0	30,011
Net Income	$ 0	$ 0			0			0	6,280,341	6,280,341
Balance (in shares) at Dec. 31, 2023	2,832,966	914,283	54,074	182,435		2,778,892	731,848
Stock issuance (see note 6) (in shares)	741	0	0	0		741	0
Share repurchase	$ 0	$ 0			(252,269)			0	0	(252,269)
Balance at Jun. 30, 2024	$ 9,753,576	$ 1,465,522			(2,489,295)			1,741,901	54,156,306	64,628,010
Share repurchase (in shares)	0	0	6,973	0			0
Share repurchase (in shares)						(6,973)
Stock awards issued to directors and officers (in shares)	36,400	0	0	0		36,400	0
Balance (in shares) at Jun. 30, 2024	2,870,107	914,283	61,047	182,435		2,809,060	731,848
Balance at Mar. 31, 2024	$ 9,491,340	$ 1,465,522			(2,489,295)			1,741,901	50,872,849	61,082,317
Share-based compensation expense	232,225	0			0			0	0	232,225
Stock issuance (see note 6)	30,011	0			0			0	0	30,011
Net Income	$ 0	$ 0			0			0	3,283,456	3,283,456
Balance (in shares) at Mar. 31, 2024	2,869,366	914,283	61,047	182,435		2,808,319	731,848
Stock issuance (see note 6) (in shares)	741	0	0	0		741	0
Balance at Jun. 30, 2024	$ 9,753,576	$ 1,465,522			$ (2,489,295)			$ 1,741,901	$ 54,156,306	$ 64,628,010
Balance (in shares) at Jun. 30, 2024	2,870,107	914,283	61,047	182,435		2,809,060	731,848

Consolidated Statement of Cash

Consolidated Statement of Cash Flow (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash Flows from Operating Activities
Net Income	$ 6,280,341	$ 7,242,815
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,022,185	2,024,296
Loss (Gain) on investments in equity securities	379,466	(118,482)
Amortization of right of use assets	781,352	792,382
Loss on disposal of assets	0	59,071
Share-based compensation expense	844,579	928,788
Changes in assets and liabilities:
Accounts receivable	(6,789,816)	697,128
Inventories	(896,158)	(987,162)
Contract assets	1,869,705	(125,609)
Prepaid expenses & other assets	(155,283)	470,831
Right of use assets	1,294,087	(457,317)
Other noncurrent assets	13,000	240,471
Accounts payable	715,063	(1,251,066)
Lease liabilities	(2,073,478)	(327,772)
Accrued Income Taxes	(1,595,436)	(1,016,541)
Other current liabilities	682,609	657,210
Unearned revenue	634,295	(606,775)
Total adjustments	(2,273,830)	979,453
Net Cash Provided by Operating Activities	4,006,511	8,222,268
Cash Flows from Investing Activities
Cash paid for business acquisitions, net	(6,549,750)	0
Proceeds from sale of property, plant and equipment	72,000	0
Sale of investments	199,228	0
Capital expenditures	(1,768,093)	(866,127)
Net Cash (Used in) Investing Activities	(8,046,615)	(866,127)
Cash Flows from Financing Activities
Payments on notes	(405,724)	(1,447,315)
Payments on bank debt	(6,530,286)	(9,304,931)
Borrowings on bank debt	11,288,476	5,545,035
Payments for debt issue costs	(77,396)	0
Share repurchase	(252,269)	(111,775)
Net Cash Provided by (Used in) Financing Activities	4,022,801	(5,318,986)
Net Increase in cash and cash equivalents	(17,303)	2,037,155
Cash and cash equivalents at beginning of period	1,647,175	1,247,627
Cash and cash equivalents at end of period	1,629,872	3,284,782
Supplemental disclosures of cash flow information
Interest Paid	512,869	742,808
Supplemental disclosures of noncash financing and investing activity
Additions to ROU assets obtained from new operating lease liabilities	107,870	457,808
Purchase accounting adjustment to Goodwill for a change in inventory	0	147,591
Purchase accounting adjustment to Goodwill for a change in fixed assets	0	73,520
Assumption of debt for purchase of real-estate	5,869,250	0
Issuance of Class A common shares for capital expenditures	$ 30,011	$ 150,000

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	6 Months Ended
	Jun. 30, 2024
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 six June 30, 2024 not may December 31, 2024 10 December 31, 2023 During the six June 30, 2024 no

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
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, 2023 Recent Accounting Pronouncements In November 2023, 2023 07, 280 280 December 15, 2023, December 15, 2024, In December 2023, 2023 09, 740 December 15, 2024. 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 similar assets or liabilities in active markets; * 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. The following is a description of the valuation methodologies used for the Company's 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	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	3. ACCOUNTS RECEIVABLE The balance of accounts receivable, net was $27,001,826, $19,671,833, and $21,884,807 at June 30, 2024 December 31, 2023 December 31, 2022, 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 $90,444, $105,223, and $143,631 at June 30, 2024 December 31, 2023 December 31, 2022,

Note 4 - Inventory

Note 4 - Inventory	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Inventory Disclosure [Text Block]	4. INVENTORY Inventory is valued at the lower of cost ( first first June 30, December 31, 2024 2023 Raw materials and component parts $ 4,017,732 $ 3,989,444 Work-in-process 5,658,284 4,514,263 Finished products 10,724,292 9,846,694 Total inventory $ 20,400,308 $ 18,350,401 Less: inventory reserves 1,051,182 677,779 Net inventory $ 19,349,126 $ 17,672,622

Note 5 - Goodwill and Other Int

Note 5 - Goodwill and Other Intangible Assets, Net	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	5. Goodwill represents the excess of cost over the fair value of identifiable assets acquired. U.S. GAAP requires that both indefinite-lived intangible assets and Goodwill are tested for impairment annually and more frequently if events or changes in circumstances indicate that it is more likely than not 50% 350 fourth first not 2023, not December 31, 2023 no There were no impairment indicators identified during the six June 30, 2024 June 30, 2023. Goodwill increased by $0.9 million from $16.5 million at December 31, 2023 June 30, 2024 December 31, 2022 December 31, 2023 second 2023 , Goodwill by reportable segment is as follows: June 30, December 31, 2024 2023 Commercial Air Handling Equipment Segment: Beginning Balance $ 478,256 $ 478,256 Acquisitions - - Adjustments - - Ending Balance $ 478,256 $ 478,256 Industrial and Transportation Products Segment: Beginning Balance $ 15,974,793 $ 15,753,682 Acquisitions 918,402 - Adjustments - 221,111 Ending Balance $ 16,893,195 $ 15,974,793 Total Company: Beginning Balance $ 16,453,049 $ 16,231,938 Acquisitions 918,402 - Adjustments - 221,111 Ending Balance $ 17,371,451 $ 16,453,049 The Company's intangible assets have primarily been generated via acquisitions. Intangibles are being amortized on a straight-line basis over periods ranging from one Intangible assets consist of the following: June 30, December 31, 2024 2023 Customer list intangibles $ 11,367,000 $ 9,316,000 Non-compete agreements 200,000 200,000 Trademarks 4,554,074 4,466,899 Total intangible assets 16,121,074 13,982,899 Less: accumulated amortization 6,430,971 5,730,299 Intangible assets, net $ 9,690,103 $ 8,252,600 Amortization of intangible assets was $350,336 and $315,302 for the three June 30, 2024 2023 six June 30, 2024 2023 Intangible amortization for the remainder of 2024 four Amortization in future periods Remainder of 2024 $ 700,672 2025 1,401,343 2026 1,073,479 2027 957,432 2028 899,250

Note 6 - Property, Plant and Eq

Note 6 - Property, Plant and Equipment, Net	6 Months Ended
	Jun. 30, 2024
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 expensed as incurred. Property, plant and equipment are as follows: June 30, December 31, 2024 2023 Land $ 1,521,700 $ 231,034 Buildings and improvements 10,334,297 3,760,203 Machinery & equipment 26,568,903 24,851,703 Total property, plant & equipment 38,424,900 28,842,940 Less: accumulated depreciation 15,334,516 14,156,750 Property plant & equipment, net $ 23,090,384 $ 14,686,190 During the second 2024, second 2023, $150,000 During the first 2024, $2.2 second 2024, 8 Depreciation expense was $624,750 and $774,162 for the three June 30, 2024 2023 six June 30, 2024 2023

Note 7 - Investments in Equity

Note 7 - Investments in Equity Securities	6 Months Ended
	Jun. 30, 2024
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 valued based on quoted stock prices in active markets, thus Level 1 As of June 30, 2024, December 31, 2023, six June 30, 2024 As of June 30, 2023, December 31, 2022, six June 30, 2023 2023.

Note 8 - Bank Debt

Note 8 - Bank Debt	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Long-Term Debt [Text Block]	8. BANK DEBT The Company is party to a Credit Agreement with JPMorgan Chase Bank, N.A. as lender (as amended, the “Credit Agreement”). The Company entered into a sixth June 12, 2023. June 30, 2023. The Company entered into a seventh November 27, 2023. June 1, 2024 June 1, 2027, ( may June 30, 2024, 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 SOFR (previously LIBOR) plus applicable margins of (i) (0.25%) for Prime Rate loans and (ii) 1.75% for SOFR (previously LIBOR) loans. The Credit Agreement includes a commitment fee on the unused portion of the revolving facility of 0.25% per annum payable quarterly. The obligations of the Company and other borrowers under the Credit Agreement are secured by a blanket lien on all the assets of the Company and its subsidiaries. The Credit Agreement also includes customary representations and warranties and applicable reporting requirements and covenants. The financial covenants under the Credit Agreement include a minimum fixed charge coverage ratio, a maximum senior funded debt to EBITDA ratio and a maximum total funded debt to EBITDA ratio. On May 16, 2024, 52nd May 16, 2024 May 16, 2034 not 1.2x not five may eighth May 16, 2024, Bank debt balances consist of the following: June 30, December 31, 2024 2023 Term debt $ 5,858,964 $ - Revolving debt 9,880,664 5,112,187 Total Bank debt 15,739,628 5,112,187 Less: current portion 136,775 - Non-current bank debt 15,602,853 5,112,187 Less: unamortized debt costs 76,107 15,515 Net non-current bank debt $ 15,526,746 $ 5,096,672 The Company had $20.1 million and $24.9 million available to borrow on the revolving credit facility at June 30, 2024 December 31, 2023 June 30, 2024

Note 9 - Notes Payable

Note 9 - Notes Payable	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Debt Disclosure [Text Block]	9. NOTES PAYABLE Notes Payable – Related Party In connection with the Komtek Forge acquisition, on January 15, 2021, one April 15, 2021. Notes payable consists of the following: June 30, December 31, 2024 2023 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 $ 888,711 $ 1,294,435 Total notes payable 888,711 1,294,435 Less current portion 850,185 824,226 Notes payable – non-current portion $ 38,526 $ 470,209

Note 10 - Leases

Note 10 - Leases	6 Months Ended
	Jun. 30, 2024
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 under one Supplemental balance sheet information related to leases: June 30, December 31, 2024 2023 Operating leases: Operating lease right-of-use assets, net $ 6,331,794 $ 8,356,903 Operating lease liabilities – current 1,117,484 1,714,174 Operating lease liabilities – noncurrent 5,424,255 6,901,043 Total operating lease liabilities $ 6,541,739 $ 8,615,217 Weighted Average Remaining Lease Term Operating Leases (in years) 8.2 7.1 Weighted Average Discount Rate Operating Leases 5 % 5 %

Note 11 - Earnings Per Common S

Note 11 - Earnings Per Common Share	6 Months Ended
	Jun. 30, 2024
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 Six Months Ended June 30, June 30, 2024 2023 2024 2023 Earnings Per Share - Basic Net Income $ 3,283,456 $ 3,851,342 $ 6,280,341 $ 7,242,815 Weighted average shares of common stock outstanding - Basic 3,540,656 3,507,108 3,536,834 3,504,978 Earnings Per Share - Basic $ 0.93 $ 1.10 $ 1.78 $ 2.07 Earnings Per Share - Diluted Weighted average shares of common stock outstanding - Basic 3,540,656 3,507,108 3,536,834 3,504,978 Unvested Restricted Stock Awards 11,857 11,278 8,639 2,308 Weighted average shares of common stock - Diluted 3,552,513 3,518,386 3,545,473 3,507,286 Earnings Per Share - Diluted $ 0.92 $ 1.09 $ 1.77 $ 2.07

Note 12 - Acquisitions

Note 12 - Acquisitions	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	12. ACQUISITIONS Heany Industries, LLC Effective January 2, 2024, Total Consideration $ 6,550,000 Cash $ 250 Accounts Receivable 540,177 Inventory 780,346 Fixed Assets 2,234,200 Prepaid and Other Assets 79,247 Intangible Assets: Customer List & Trademarks 2,102,000 Goodwill 918,402 Total Assets Acquired $ 6,654,622 Accounts Payable $ 60,047 Deferred Revenue 44,575 Total Liabilities Assumed 104,622 Total Fair Value $ 6,550,000 Acquisition transaction costs incurred were: $ 226,181 Goodwill has an assigned value of $0.9 million and represents the expected synergies generated by combining the operations of Heany and the Company. The Company has been a long-time customer of Heany and the acquisition allows for a strengthening of the supply chain. The acquired customer relationships have an assigned intangible asset value of $2.05 million, which was determined using an income approach. The residual intangible asset value relates to trademarks. Sales and Net Income for the Acquired Companies Sales and net income information for Heany since the respective acquisition date for the six June 30, 2024 2023 Six Months ended Six Months ended June 30, 2024 June 30, 2023 Sales Net Income Sales Net Income Acquired Companies: Heany Industries (acquired January 2, 2024) $ 2,911,318 $ 117,097 $ - $ - Subtotal Acquired Companies $ 2,911,318 $ 117,097 $ - $ - All Other Companies 73,164,409 6,163,244 76,417,371 7,242,815 Total $ 76,075,727 $ 6,280,341 $ 76,417,371 $ 7,242,815

Note 13 - Segment and Related I

Note 13 - Segment and Related Information	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	13. The Company reports operations for two 1 2 280 10 50 1. not Both the Commercial Air Handling Equipment segment and the Industrial and Transportation Products segment engage in business activities from which they recognize revenues and incur expenses, including revenue and expenses relating to transactions with other components of the Company, which are eliminated in consolidation. The operating results for both the 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. The company purchased substantially all of the assets of Crawford SEP r America LLC or “Separ America”), in Davie, Florida on January 10, 2022. May 1, 2022. January 2, 2024. The factors used to determine the Company’s reportable segments follow the guidance of ASC 280 10 50 21 50 10 22 not three twenty-four 30 Corporate costs not Corporate costs not Information by industry segment is set forth below: Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Sales summary by segment Commercial Air Handling $ 16,431,398 $ 14,860,001 $ 33,409,842 $ 30,911,194 Industrial and Transportation Products 21,204,690 22,073,014 42,665,885 45,506,177 Total Sales 37,636,088 36,933,015 76,075,727 76,417,371 Gross profit summary by segment Commercial Air Handling 5,701,513 5,029,777 11,333,608 9,469,684 Industrial and Transportation Products 4,709,802 5,445,101 9,322,740 11,521,745 Total Gross Profit 10,411,315 10,474,878 20,656,348 20,991,429 Segment operating profit Commercial Air Handling 4,672,034 3,987,554 9,220,835 7,402,749 Industrial and Transportation Products 1,592,294 2,605,748 3,167,408 5,796,850 Total Segment Operating Profit 6,264,328 6,593,302 12,388,243 13,199,599 Corporate charges not allocated to segments 1,148,147 1,440,938 2,697,972 2,927,967 Operating Income 5,116,181 5,152,364 9,690,271 10,271,632 Interest charges 304,057 366,101 541,898 735,904 Loss (gain) on investments 261,389 (177,515 ) 379,466 (118,482 ) Other (income) expense, net (5,557 ) (345,968 ) 66,706 (344,971 ) Income before Provision for Income Taxes $ 4,556,292 $ 5,309,746 $ 8,702,201 $ 9,999,181

Note 14 - Subsequent Events

Note 14 - Subsequent Events	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Subsequent Events [Text Block]	14. None.

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
	Jun. 30, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	ITEM 5. During the quarter ended June 30, 2024 no 10b5 1 10b5 1 408
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In November 2023, 2023 07, 280 280 December 15, 2023, December 15, 2024, In December 2023, 2023 09, 740 December 15, 2024.
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 Measurement, Policy [Policy Text Block]	Fair Value Measurements As defined in FASB ASC 820, one three * Level 1: * Level 2: * Quoted prices for similar assets or liabilities in active markets; * 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. The following is a description of the valuation methodologies used for the Company's 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)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Inventory, Current [Table Text Block]	June 30, December 31, 2024 2023 Raw materials and component parts $ 4,017,732 $ 3,989,444 Work-in-process 5,658,284 4,514,263 Finished products 10,724,292 9,846,694 Total inventory $ 20,400,308 $ 18,350,401 Less: inventory reserves 1,051,182 677,779 Net inventory $ 19,349,126 $ 17,672,622

Note 5 - Goodwill and Other I_2

Note 5 - Goodwill and Other Intangible Assets, Net (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Goodwill [Table Text Block]	June 30, December 31, 2024 2023 Commercial Air Handling Equipment Segment: Beginning Balance $ 478,256 $ 478,256 Acquisitions - - Adjustments - - Ending Balance $ 478,256 $ 478,256 Industrial and Transportation Products Segment: Beginning Balance $ 15,974,793 $ 15,753,682 Acquisitions 918,402 - Adjustments - 221,111 Ending Balance $ 16,893,195 $ 15,974,793 Total Company: Beginning Balance $ 16,453,049 $ 16,231,938 Acquisitions 918,402 - Adjustments - 221,111 Ending Balance $ 17,371,451 $ 16,453,049
Schedule of Finite-Lived Intangible Assets [Table Text Block]	June 30, December 31, 2024 2023 Customer list intangibles $ 11,367,000 $ 9,316,000 Non-compete agreements 200,000 200,000 Trademarks 4,554,074 4,466,899 Total intangible assets 16,121,074 13,982,899 Less: accumulated amortization 6,430,971 5,730,299 Intangible assets, net $ 9,690,103 $ 8,252,600
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Amortization in future periods Remainder of 2024 $ 700,672 2025 1,401,343 2026 1,073,479 2027 957,432 2028 899,250

Note 6 - Property, Plant and _2

Note 6 - Property, Plant and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Property, Plant and Equipment [Table Text Block]	June 30, December 31, 2024 2023 Land $ 1,521,700 $ 231,034 Buildings and improvements 10,334,297 3,760,203 Machinery & equipment 26,568,903 24,851,703 Total property, plant & equipment 38,424,900 28,842,940 Less: accumulated depreciation 15,334,516 14,156,750 Property plant & equipment, net $ 23,090,384 $ 14,686,190

Note 8 - Bank Debt (Tables)

Note 8 - Bank Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Debt [Table Text Block]	June 30, December 31, 2024 2023 Term debt $ 5,858,964 $ - Revolving debt 9,880,664 5,112,187 Total Bank debt 15,739,628 5,112,187 Less: current portion 136,775 - Non-current bank debt 15,602,853 5,112,187 Less: unamortized debt costs 76,107 15,515 Net non-current bank debt $ 15,526,746 $ 5,096,672

Note 9 - Notes Payable (Tables)

Note 9 - Notes Payable (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Long-Term Debt Instruments [Table Text Block]	June 30, December 31, 2024 2023 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 $ 888,711 $ 1,294,435 Total notes payable 888,711 1,294,435 Less current portion 850,185 824,226 Notes payable – non-current portion $ 38,526 $ 470,209

Note 10 - Leases (Tables)

Note 10 - Leases (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Lessee, Operating and Finance Lease, Assets and Liabilities [Table Text Block]	June 30, December 31, 2024 2023 Operating leases: Operating lease right-of-use assets, net $ 6,331,794 $ 8,356,903 Operating lease liabilities – current 1,117,484 1,714,174 Operating lease liabilities – noncurrent 5,424,255 6,901,043 Total operating lease liabilities $ 6,541,739 $ 8,615,217 Weighted Average Remaining Lease Term Operating Leases (in years) 8.2 7.1 Weighted Average Discount Rate Operating Leases 5 % 5 %

Note 11 - Earnings Per Common_2

Note 11 - Earnings Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Earnings Per Share - Basic Net Income $ 3,283,456 $ 3,851,342 $ 6,280,341 $ 7,242,815 Weighted average shares of common stock outstanding - Basic 3,540,656 3,507,108 3,536,834 3,504,978 Earnings Per Share - Basic $ 0.93 $ 1.10 $ 1.78 $ 2.07 Earnings Per Share - Diluted Weighted average shares of common stock outstanding - Basic 3,540,656 3,507,108 3,536,834 3,504,978 Unvested Restricted Stock Awards 11,857 11,278 8,639 2,308 Weighted average shares of common stock - Diluted 3,552,513 3,518,386 3,545,473 3,507,286 Earnings Per Share - Diluted $ 0.92 $ 1.09 $ 1.77 $ 2.07

Note 12 - Acquisitions (Tables)

Note 12 - Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Total Consideration $ 6,550,000 Cash $ 250 Accounts Receivable 540,177 Inventory 780,346 Fixed Assets 2,234,200 Prepaid and Other Assets 79,247 Intangible Assets: Customer List & Trademarks 2,102,000 Goodwill 918,402 Total Assets Acquired $ 6,654,622 Accounts Payable $ 60,047 Deferred Revenue 44,575 Total Liabilities Assumed 104,622 Total Fair Value $ 6,550,000 Acquisition transaction costs incurred were: $ 226,181
Business Acquisition, Pro Forma Information [Table Text Block]	Six Months ended Six Months ended June 30, 2024 June 30, 2023 Sales Net Income Sales Net Income Acquired Companies: Heany Industries (acquired January 2, 2024) $ 2,911,318 $ 117,097 $ - $ - Subtotal Acquired Companies $ 2,911,318 $ 117,097 $ - $ - All Other Companies 73,164,409 6,163,244 76,417,371 7,242,815 Total $ 76,075,727 $ 6,280,341 $ 76,417,371 $ 7,242,815

Note 13 - Segment and Related_2

Note 13 - Segment and Related Information (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Sales summary by segment Commercial Air Handling $ 16,431,398 $ 14,860,001 $ 33,409,842 $ 30,911,194 Industrial and Transportation Products 21,204,690 22,073,014 42,665,885 45,506,177 Total Sales 37,636,088 36,933,015 76,075,727 76,417,371 Gross profit summary by segment Commercial Air Handling 5,701,513 5,029,777 11,333,608 9,469,684 Industrial and Transportation Products 4,709,802 5,445,101 9,322,740 11,521,745 Total Gross Profit 10,411,315 10,474,878 20,656,348 20,991,429 Segment operating profit Commercial Air Handling 4,672,034 3,987,554 9,220,835 7,402,749 Industrial and Transportation Products 1,592,294 2,605,748 3,167,408 5,796,850 Total Segment Operating Profit 6,264,328 6,593,302 12,388,243 13,199,599 Corporate charges not allocated to segments 1,148,147 1,440,938 2,697,972 2,927,967 Operating Income 5,116,181 5,152,364 9,690,271 10,271,632 Interest charges 304,057 366,101 541,898 735,904 Loss (gain) on investments 261,389 (177,515 ) 379,466 (118,482 ) Other (income) expense, net (5,557 ) (345,968 ) 66,706 (344,971 ) Income before Provision for Income Taxes $ 4,556,292 $ 5,309,746 $ 8,702,201 $ 9,999,181

Note 3 - Accounts Receivable (D

Note 3 - Accounts Receivable (Details Textual) - USD ($)	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable, after Allowance for Credit Loss	$ 27,001,826	$ 19,671,833	$ 21,884,807
Accounts Receivable, Allowance for Credit Loss	$ 90,444	$ 105,223	$ 143,631

Note 4 - Inventory - Inventory

Note 4 - Inventory - Inventory (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Raw materials and component parts	$ 4,017,732	$ 3,989,444
Work-in-process	5,658,284	4,514,263
Finished products	10,724,292	9,846,694
Total inventory	20,400,308	18,350,401
Less: inventory reserves	1,051,182	677,779
Net inventory	$ 19,349,126	$ 17,672,622

Note 5 - Goodwill and Other I_3

Note 5 - Goodwill and Other Intangible Assets, Net (Details Textual) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Goodwill, Impairment Loss			$ 0	$ 0
Goodwill, Period Increase (Decrease)			900,000		$ 200,000
Goodwill	$ 17,371,451		17,371,451		16,453,049	$ 16,231,938
Goodwill, Acquired During Period			918,402		$ 0
Amortization of Intangible Assets	$ 350,336	$ 315,302	$ 700,672	$ 630,605
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	1 year		1 year
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	15 years		15 years

Note 5 - Goodwill and Other I_4

Note 5 - Goodwill and Other Intangible Assets, Net - Goodwill By Reportable Segment (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Beginning Balance	$ 16,453,049	$ 16,231,938
Acquisitions	918,402	0
Adjustments	0	221,111
Ending Balance	17,371,451	16,453,049
Commercial Air Handling [Member]
Beginning Balance	478,256	478,256
Acquisitions	0	0
Adjustments	0	0
Ending Balance	478,256	478,256
Industrial and Transportation Products [Member]
Beginning Balance	15,974,793	15,753,682
Acquisitions	918,402	0
Adjustments	0	221,111
Ending Balance	$ 16,893,195	$ 15,974,793

Note 5 - Goodwill and Other I_5

Note 5 - Goodwill and Other Intangible Assets, Net - Summary of Intangible Assets (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Other intangibles, gross	$ 16,121,074	$ 13,982,899
Less: accumulated amortization	6,430,971	5,730,299
Intangible assets, net	9,690,103	8,252,600
Customer Lists [Member]
Other intangibles, gross	11,367,000	9,316,000
Noncompete Agreements [Member]
Other intangibles, gross	200,000	200,000
Trademarks [Member]
Other intangibles, gross	$ 4,554,074	$ 4,466,899

Note 5 - Goodwill and Other I_6

Note 5 - Goodwill and Other Intangible Assets, Net - Future Amortization Expense (Details)	Jun. 30, 2024 USD ($)
Remainder of 2024	$ 700,672
2025	1,401,343
2026	1,073,479
2027	957,432
2028	$ 899,250

Note 6 - Property, Plant and _3

Note 6 - Property, Plant and Equipment, Net (Details Textual) - USD ($)		3 Months Ended		6 Months Ended
	May 16, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024	Jan. 03, 2024
Payments to Acquire Productive Assets				$ 1,768,093	$ 866,127
Depreciation		$ 624,750	$ 774,162	$ 1,304,708	$ 1,370,484
North 52nd Properties LLC [Member]
Payments to Acquire Productive Assets	$ 6,900,000	$ 6,900,000
Heany Industries, LLC [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment						$ 2,200,000	$ 2,234,200
Common Class A [Member] | Aerospace Tooling Machine [Member] | Air Power Dynamics, LLC [Member]
Stock Issued During Period, Shares, Purchase of Assets (in shares)		741	7,317
Stock Issued During Period, Value, Purchase of Assets		$ 30,011	$ 150,000

Note 6 - Property, Plant and _4

Note 6 - Property, Plant and Equipment, Net - Schedule of Property, Plant, and Equipment (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Property Plant and Equipment, Gross	$ 38,424,900	$ 28,842,940
Less: accumulated depreciation	15,334,516	14,156,750
Property plant & equipment, net	23,090,384	14,686,190
Land [Member]
Property Plant and Equipment, Gross	1,521,700	231,034
Building and Building Improvements [Member]
Property Plant and Equipment, Gross	10,334,297	3,760,203
Machinery and Equipment [Member]
Property Plant and Equipment, Gross	$ 26,568,903	$ 24,851,703

Note 7 - Investments in Equit_2

Note 7 - Investments in Equity Securities (Details Textual) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Equity Securities, FV-NI, Current	$ 86,608	$ 776,453	$ 665,301	$ 657,971
Proceeds from Sale of Equity Securities, FV-NI	$ 199,228
Equity Securities, FV-NI, Realized Gain (Loss)		$ 0

Note 8 - Bank Debt (Details Tex

Note 8 - Bank Debt (Details Textual) - USD ($)				3 Months Ended	6 Months Ended
	May 16, 2024	Jan. 03, 2024	Mar. 02, 2021	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Nov. 27, 2023	Nov. 26, 2023
Payments to Acquire Productive Assets					$ 1,768,093	$ 866,127
Heany Industries, LLC [Member]
Business Combination, Consideration Transferred		$ 6,550,000			6,600,000
North 52nd Properties LLC [Member]
Payments to Acquire Productive Assets	$ 6,900,000			$ 6,900,000
North 52nd Properties LLC [Member] | MidFirst Loan Agreement [Member]
Debt Instrument, Face Amount	$ 5,900,000
Debt Instrument, Interest Rate, Stated Percentage	7.14%
Debt Instrument, Covenant, Minimum Net Worth	$ 10,000,000
J P Morgan Chase Bank [Member]
Line of Credit Facility, Covenant, Maximum Annual Amount Payable in Dividends or Other Restricted Payments								$ 2,000,000	$ 1,250,000
Line of Credit, Covenant, Repurchase of Company Equity								$ 7,000,000
J P Morgan Chase Bank [Member] | Prime Rate [Member] | Term Debt [Member]
Debt Instrument, Basis Spread on Variable Rate			0.25%
J P Morgan Chase Bank [Member] | Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 3,000,000
J P Morgan Chase Bank [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Remaining Borrowing Capacity				$ 20,100,000	$ 20,100,000		$ 24,900,000
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] | Secured Overnight Financing Rate (SOFR) [Member]
Debt Instrument, Basis Spread on Variable Rate			1.75%

Note 8 - Bank Debt - Summary of

Note 8 - Bank Debt - Summary of Loan Balances (Details) - Bank Debt [Member] - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Total Bank Debt	$ 15,739,628	$ 5,112,187
Less: current portion	136,775	0
Non-current bank debt	15,602,853	5,112,187
Less: unamortized debt costs	76,107	15,515
Net non-current bank debt	15,526,746	5,096,672
Term Debt [Member]
Total Bank Debt	5,858,964	0
Line of Credit [Member]
Total Bank Debt	$ 9,880,664	$ 5,112,187

Note 9 - Notes Payable (Details

Note 9 - Notes Payable (Details Textual) - Notes Payable [Member] - USD ($)	Jun. 30, 2024	Dec. 31, 2023	Jan. 15, 2021	Jan. 14, 2021
Notes Payable, Total	$ 888,711	$ 1,294,435
Related Party Notes [Member] | First Francis [Member]
Notes Payable, Total				$ 2,077,384
Related Party Notes [Member] | First Francis [Member] | Komtek Forge [Member]
Notes Payable, Total				$ 1,702,400
Related Party Notes Three [Member] | First Francis [Member]
Notes Payable, Total	$ 888,711	$ 1,294,435	$ 3,779,784
Debt Instrument, Interest Rate, Stated Percentage			6.25%

Note 9 - Notes Payable - Notes

Note 9 - Notes Payable - Notes Payable (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023	Jan. 15, 2021
Less current portion	$ 850,185	$ 824,226
Notes Payable [Member]
Notes payable	888,711	1,294,435
Less current portion	850,185	824,226
Notes payable – non-current portion	38,526	470,209
Notes Payable [Member] | Related Party Notes Three [Member] | First Francis [Member]
Notes payable	$ 888,711	$ 1,294,435	$ 3,779,784

Note 9 - Notes Payable - Note_2

Note 9 - Notes Payable - Notes Payable (Details) (Parentheticals) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Notes Payable [Member] | Related Party Notes Three [Member] | First Francis [Member]
Notes payable, face value	$ 3,779,784	$ 3,779,784

Note 10 - Leases (Details Textu

Note 10 - Leases (Details Textual)	6 Months Ended
	Jun. 30, 2024
Lessee, Operating and Finance Lease, Renewal Term (Year)	10 years
Minimum [Member]
Operating and Finance Lease, Remaining Term (Year)	1 year
Maximum [Member]
Operating and Finance Lease, Remaining Term (Year)	11 years

Note 10 - Leases - Lease Assets

Note 10 - Leases - Lease Assets and Liabilities (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Operating lease right-of-use assets, net	$ 6,331,794	$ 8,356,903
Operating lease liabilities – current	1,117,484	1,714,174
Operating lease liabilities – noncurrent	5,424,255	6,901,043
Total operating lease liabilities	$ 6,541,739	$ 8,615,217
Weighted Average Remaining Lease Term, Operating Leases (in years) (Year)	8 years 2 months 12 days	7 years 1 month 6 days
Weighted Average Discount Rate, Operating Leases	5%	5%

Note 11 - Earnings Per Common_3

Note 11 - Earnings Per Common Share - Summary of Earnings Per Share Calculation (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net Income	$ 3,283,456	$ 3,851,342	$ 6,280,341	$ 7,242,815
Weighted average shares of common stock outstanding - Basic (in shares)	3,540,656	3,507,108	3,536,834	3,504,978
Net Income Per Common Share - Basic (in dollars per share)	$ 0.93	$ 1.1	$ 1.78	$ 2.07
Unvested Restricted Stock Awards (in shares)	11,857	11,278	8,639	2,308
Weighted average shares of common stock - Diluted (in shares)	3,552,513	3,518,386	3,545,473	3,507,286
Net Income Per Common Share - Diluted (in dollars per share)	$ 0.92	$ 1.09	$ 1.77	$ 2.07

Note 12 - Acquisitions (Details

Note 12 - Acquisitions (Details Textual) - USD ($)		6 Months Ended
	Jan. 03, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Payments to Acquire Businesses, Gross		$ 6,549,750	$ 0
Goodwill		$ 17,371,451		$ 16,453,049	$ 16,231,938
Heany Industries, LLC [Member]
Payments to Acquire Businesses, Gross	$ 12,000,000
Business Combination, Consideration Transferred, Liabilities Incurred	6,600,000
Goodwill	918,402
Heany Industries, LLC [Member] | Customer Lists [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 2,050,000

Note 12 - Acquisitions - Summar

Note 12 - Acquisitions - Summary Assets Acquired and Liabilities Assumed (Details) - USD ($)		6 Months Ended
	Jan. 03, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill		$ 17,371,451		$ 16,453,049	$ 16,231,938
Heany Industries, LLC [Member]
Total Consideration	$ 6,550,000	$ 6,600,000
Cash	250
Accounts Receivable	540,177
Inventory	780,346
Fixed Assets	2,234,200		$ 2,200,000
Prepaid and Other Assets	79,247
Intangible Assets: Customer List & Trademarks	2,102,000
Goodwill	918,402
Total Assets Acquired	6,654,622
Accounts Payable	60,047
Deferred Revenue	44,575
Total Liabilities Assumed	104,622
Total Fair Value	6,550,000
Acquisition transaction costs incurred were:	$ 226,181

Note 12 - Acquisitions - Revenu

Note 12 - Acquisitions - Revenue and Net Income of Acquired Entities (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual	$ 76,075,727	$ 76,417,371
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual	6,280,341	7,242,815
Heany Industries, LLC [Member]
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual	2,911,318	0
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual	117,097	0
Acquired Entities [Member]
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual	2,911,318	0
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual	117,097	0
All Other Entities [Member]
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual	73,164,409	76,417,371
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual	$ 6,163,244	$ 7,242,815

Note 13 - Segment and Related_3

Note 13 - Segment and Related Information (Details Textual)	6 Months Ended
	Jun. 30, 2024
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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Sales	$ 37,636,088	$ 36,933,015	$ 76,075,727	$ 76,417,371
Gross profit	10,411,315	10,474,878	20,656,348	20,991,429
Operating profit	5,116,181	5,152,364	9,690,271	10,271,632
Interest charges	304,057	366,101	541,898	735,904
Loss (Gain) on investments in equity securities	261,389	(177,515)	379,466	(118,482)
Other (income) expense, net	(5,557)	(345,968)	66,706	(344,971)
Income before Provision for Income Taxes	4,556,292	5,309,746	8,702,201	9,999,181
Operating Segments [Member]
Sales	37,636,088	36,933,015	76,075,727	76,417,371
Gross profit	10,411,315	10,474,878	20,656,348	20,991,429
Operating profit	6,264,328	6,593,302	12,388,243	13,199,599
Corporate and Reconciling Items [Member]
Operating profit	1,148,147	1,440,938	2,697,972	2,927,967
Commercial Air Handling [Member] | Operating Segments [Member]
Sales	16,431,398	14,860,001	33,409,842	30,911,194
Gross profit	5,701,513	5,029,777	11,333,608	9,469,684
Operating profit	4,672,034	3,987,554	9,220,835	7,402,749
Industrial and Transportation Products [Member] | Operating Segments [Member]
Sales	21,204,690	22,073,014	42,665,885	45,506,177
Gross profit	4,709,802	5,445,101	9,322,740	11,521,745
Operating profit	$ 1,592,294	$ 2,605,748	$ 3,167,408	$ 5,796,850