CVD Equipment (CVV) 10-Q 13 May 21 2021 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2021	May 07, 2021
Document Information [Line Items]
Entity Registrant Name	CVD EQUIPMENT CORP
Entity Central Index Key	0000766792
Trading Symbol	cvv
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (in shares)		6,684,281
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Title of 12(b) Security	Common Stock

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents	$ 5,929,363	$ 7,699,335
Accounts receivable, net	819,030	1,047,728
Contract assets	1,027,288	494,281
Inventories, net	1,340,000	1,123,839
Taxes Receivable	715,599	715,599
Other current assets	447,618	709,175
Assets held for sale	16,181,368
Total Current Assets	26,460,266	11,789,957
Property, plant and equipment, net	12,460,305	28,843,563
Intangible assets, net	261,645	288,657
Other assets	23,318	13,748
Total Assets	39,205,534	40,935,925
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable	503,309	817,933
Accrued expenses	1,673,162	1,409,039
Current maturities of long-term debt	1,990,508	690,667
Contract Liabilities	733,507	786,657
Liabilities held for sale	9,218,683
Total Current Liabilities	14,119,169	3,704,296
Long-term debt, net of current portion	2,415,970	13,106,057
Total Liabilities	16,535,139	16,810,353
Commitments and contingencies (see note 13)
Stockholders’ Equity:
Common stock - $0.01 par value – 20,000,000 shares authorized; issued and outstanding 6,684,281 at March 31, 2021 and 6,678,698 at December 31, 2020	66,842	66,786
Additional paid-in capital	27,012,001	26,961,684
Accumulated deficit	(4,408,448)	(2,902,898)
Total Stockholders’ Equity	22,670,395	24,125,572
Total Liabilities and Stockholders’ Equity	$ 39,205,534	$ 40,935,925

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares issued (in shares)	6,684,281	6,678,698
Common stock, shares outstanding (in shares)	6,684,281	6,678,698

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenue	$ 3,365,860	$ 6,036,360
Cost of revenue	3,047,280	4,100,836
Gross profit	318,580	1,935,524
Operating expenses
Research and development	100,432	113,828
Selling and shipping	135,755	165,777
General and administrative	1,701,180	1,547,758
Total operating expenses	1,937,367	1,827,363
Operating (loss) income	(1,618,787)	108,161
Other income (expense):
Interest income	1,223	24,902
Interest expense	(107,221)	(116,038)
Other Income	219,235	110,809
Total other income, net	113,237	19,673
(Loss) income before income tax	(1,505,550)	127,834
Income tax (benefit)		(1,530,644)
Net (loss) income	$ (1,505,550)	$ 1,658,478
Basic (loss) income per common share (in dollars per share)	$ (0.23)	$ 0.25
Diluted (loss) income per common share (in dollars per share)	$ (0.23)	$ 0.25
Weighted average common shares Outstanding-basic (in shares)	6,680,130	6,626,036
Weighted average common shares Outstanding-diluted (in shares)	6,680,130	6,626,036

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2019	6,623,793
Balance at Dec. 31, 2019	$ 66,237	$ 26,719,554	$ 3,172,054	$ 29,957,845
Net income (loss)			1,658,478	1,658,478
Share-Based Compensation (in shares)	9,562
Share-Based Compensation	$ 96	72,552		72,648
Balance (in shares) at Mar. 31, 2020	6,633,355
Balance at Mar. 31, 2020	$ 66,333	26,792,106	4,830,532	$ 31,688,971
Balance (in shares) at Dec. 31, 2020	6,678,698			6,678,698
Balance at Dec. 31, 2020	$ 66,786	26,961,684	(2,902,898)	$ 24,125,572
Net income (loss)			(1,505,550)	(1,505,550)
Share-Based Compensation (in shares)	5,583
Share-Based Compensation	$ 56	50,317		$ 50,373
Balance (in shares) at Mar. 31, 2021	6,684,281			6,684,281
Balance at Mar. 31, 2021	$ 66,842	$ 27,012,001	$ (4,408,448)	$ 22,670,395

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net (loss) income	$ (1,505,550)	$ 1,658,478
Adjustments to reconcile net (loss) income to net cash (used in) operating activities
Stock-based compensation	50,373	72,648
Depreciation and amortization	255,644	327,540
(Increase)/decrease in operating assets
Accounts receivable	228,699	(692,719)
Contract assets	(533,007)	(1,240,143)
Inventories	(216,160)	19,146
Tax receivable		(1,528,305)
Other current assets	251,987	200,980
Increase/(decrease) in operating liabilities
Accounts payable	(314,625)	201,587
Accrued expenses	264,123	(422,268)
Contract liabilities	(53,150)	727,818
Total adjustments	(66,116)	(2,333,716)
Net cash used in operating activities	(1,571,666)	(675,238)
Cash flows from investing activities:
Capital expenditures	(26,744)	(422,435)
Net cash used in investing activities	(26,744)	(422,435)
Cash flows from financing activities
Payments of long-term debt	(171,562)	(166,878)
Net cash (used) in financing activities	(171,562)	(166,878)
Net decrease in cash and cash equivalents	(1,769,972)	(1,264,551)
Cash and cash equivalents at beginning of period	7,699,335	8,664,253
Cash and cash equivalents at end of period	5,929,363	7,399,702
Supplemental disclosure of cash flow information:
Income taxes paid
Interest paid	$ 106,547	$ 115,852

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	NOTE 1: BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements for CVD Equipment Corporation and Subsidiaries (collectively “the Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10 8 X. not not three March 31, 2021 not December 31, 2021. The condensed consolidated balance sheet as of December 31, 2020 10 March 31, 2021, not All material intercompany balances and transactions have been eliminated in consolidation. In addition, certain reclassifications have been made to prior period consolidated financial statements to conform to the current period presentation. BUSINESS DEVELOPMENTS In January 2021, $3.6 fourth December 31, 2020. In order to increase the Company's liquidity and to provide necessary working capital to support the Company's on-going business and operations, the Board has decided to sell the 555 February 2021. 555 not 355 April 2021, 355 355 On March 29, 2021, 555 $24,360,000, 555 $9.2 March 31, 2021, May 23, 2021, may 60

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Significant Accounting Policies [Text Block]	NOTE 2: Revenue Recognition The Company designs, manufactures and sells custom chemical vapor deposition equipment through contractual agreements. These system sales require the Company to deliver functioning equipment that is generally completed within three eighteen three eighteen Incurred costs include all direct material and labor costs and those indirect costs related to contract performance, such as supplies, tools, repairs and depreciation costs. Contract material costs are included in incurred costs when the project materials have been purchased or moved to work in process, and installed, as required by the project's engineering design. Cost based input methods of revenue recognition require the Company to make estimates of costs to complete the projects. In making such estimates, significant judgment is required to evaluate assumptions related to the costs to complete the projects, including materials, labor and other system costs. If the estimated total costs on any contract are greater than the net contract revenues, the Company recognizes the entire estimated loss in the period the loss becomes known and can be reasonably estimated. “Contract assets,” include unbilled amounts typically resulting from system sales under contracts and revenue recognized exceeds the amount billed to the customer. The amount may not “Contract liabilities,” include advance payments and billings in excess of revenue recognized. The Company typically receives down payments upon receipt of order and progress payments during the manufacturing cycle. Contract liabilities are classified as current based on our contract operating cycle and reported on a contract-by-contract basis, net of revenue recognized, at the end of each reporting period. For outright sales of products, revenue is recognized when control of the promised products or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those products or services (the transaction price). A performance obligation is a promise in a contract to transfer a distinct product or service to a customer and is the unit of account under ASC 606, Recent Accounting Standards In June 2016, 2016 13, 326 November 15, 2019, December 15, 2022 December 15, 2018 We believe there is no not may

Note 3 - Concentration of Credi

Note 3 - Concentration of Credit Risk	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	NOTE 3: Cash and cash equivalents The Company had cash and cash equivalents of $5.9 $7.7 March 31, 2021 December 31, 2020, three $1.0 March 31, 2021 December 31, 2020, The Company places most of its temporary cash investments with financial institutions, which from time to time may March 31, 2021 December 31, 2020 $3,677,000 $5,822,000, Sales concentration Revenue from a single customer in any one 10% three March 31, 2021, one 10%, 30.7% three March 31, 2020, three 10%, 27.1%, 21.5% 19.3% Accounts receivable The Company sells products and services to various companies across several industries in the ordinary course of business. The Company performs ongoing credit evaluations to assess the probability of accounts receivable collection based on a number of factors, including past transaction experience, evaluation of their credit history and review of the invoicing terms of the contract to determine the financial strength of its customers. The Company also maintains allowances for anticipated losses. At March 31, 2021, two 10% 25.1% December 31, 2020 two 35.0%

Note 4 - Revenue Disaggregation

Note 4 - Revenue Disaggregation	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	NOTE 4: The following table represents a disaggregation of revenue for the three March 31, 2021 2020 Three Month's Ending March 31, 2021 Over time Point in time Total Aerospace $ 189 $ 526 $ 715 Industrial $ 1,369 $ 675 $ 2,044 Research $ 187 $ 420 $ 607 Total $ 1,745 $ 1,621 $ 3,366 Three Month's Ending March 31, 2020 Over time Point in time Total Aerospace $ 1,165 $ 2,185 $ 3,350 Industrial $ 127 $ 861 $ 988 Research $ 594 $ 1,104 $ 1,698 Total $ 1,886 $ 4,150 $ 6,036 The Company has unrecognized contract revenue of approximately $1.7 March 31, 2021, twelve Judgment is required to evaluate assumptions including the amount of net contract revenues and the total estimated costs to determine our progress towards contract completion and to calculate the corresponding amount of revenue to recognize. Changes in estimates for sales of systems occur for a variety of reasons, including but not may Contract Assets and Liabilities Contract assets consist of (i) retainage which represent the earned, but unbilled, portion for which payment is deferred by the customer until certain contractual milestones are met; and (ii) unbilled receivables which represent revenue that has been recognized in advance of billing the customer, which is common for long-term contracts. Contract liabilities consist of customer advances and billings in excess of revenue recognized. During the three March 31, 2021 2020, $.5 $1.2 Contract assets and contract liabilities on input method type contracts in progress are summarized as follows: 2021 Costs incurred on contracts in progress $ 5,266,960 Estimated earnings 2,503,933 7,770,893 Billings to date (6,867,896 ) $ 902,997 Deferred revenue related to non-systems contracts (609,216 ) 293,781 Included in accompanying balance sheets Under the following captions: Contract assets $ 1,027,288 Contract liabilities $ (733,507 )

Note 5 - Inventories, Net

Note 5 - Inventories, Net	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE 5: Inventories consist of: March 31, 2021 December 31, 2020 Raw materials $ 1,059,663 $ 928,221 Work-in-process 280,337 195,618 Inventories $ 1,340,000 $ 1,123,839

Note 6 - Accounts Receivable, N

Note 6 - Accounts Receivable, Net	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	NOTE 6: Accounts receivable are presented net of an allowance for doubtful accounts of approximately $164,000 March 31, 2021 December 31, 2020. may

Note 7 - Long-term Debt

Note 7 - Long-term Debt	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Long-term Debt [Text Block]	NOTE 7: The Company has a loan agreement with HSBC which is secured by a mortgage against our Central Islip, NY headquarters. The loan is payable in 120 $25,000 March 2022. March 31, 2021 December 31, 2020 $2.0 $2.1 1.75% 0.5% 1.86% 1.89% March 31, 2021 December 31, 2020, On November 30, 2017, 555 $13,850,000 555 $10,387,500, 555 November 30, 2017 ( November 30, 2017, The Note is payable in 60 $62,481 December 2022. March 31, 2021 December 31, 2020 $9.2 $9.3 3.9148%. November 30, 2017 ( March 31, 2021, 8 On August 5, 2019, October 22, 2020, March 31, 2021. On April 21, 2020, $2,415,970, March 27, 2020. The PPP loan, the obligation of which is represented by a note issued by the Company, matures on April 21, 2022 1% may no may first twenty-four February 15, 2020. April 2021,

Note 8 - Asset and Liabilities

Note 8 - Asset and Liabilities Held for Sale	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	NOTE 8: In order to increase the Company's liquidity and to provide necessary working capital to support its on-going business and operations, the Company is selling the 555 555 not 355 On March 29, 2021, 555 $24,360,000, 555 $9.2 March 31, 2021, $16.2 March 31, 2021, December 31, 2020 In addition, the Note related to the 555 March 31, 2021, $9.2 December 31, 2020

Note 9 - Stock-based Compensati

Note 9 - Stock-based Compensation Expense	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	NOTE 9: The Company recorded as part of general and administrative expense $44,000 $73,000 three March 31, 2021 2020, A summary of the stock option activity related to the 2001 2007 2016 January 1, 2021 March 31, 2021 2001 Non-Qualified Stock Option Plan Beginning Granted Exercised Canceled Ending Balance During During During Balance Outstanding Period Period Period Outstanding Exercisable Number of shares 7,000 - - (7,000 ) - - Weighted average exercise price per share $ 7.90 - - $ 7.90 - - 2007 Share Incentive Plan Beginning Granted Exercised Canceled Ending Balance During During During Balance Outstanding Period Period Period Outstanding Exercisable Number of shares 345,000 - - - 345,000 305,000 Weighted average exercise price per share $ 12.33 - - - $ 12.33 $ 12.33 2016 Share Incentive Plan Beginning Granted Exercised Canceled Ending Balance During During During Balance Outstanding Period Period Period Outstanding Exercisable Number of shares 65,000 - - - 65,000 65,000 Weighted average exercise price per share $ 5.94 - - - $ 5.94 $ 5.94 The Company has a total of 410,000 370,000 three March 31, 2021. The following table summarizes information about the outstanding and exercisable options at March 31, 2021. Options Outstanding Options Exercisable Weighted Weighted Weighted Average Average Average Exercise Number Remaining Exercise Intrinsic Number Exercise Intrinsic Price Range Outstanding Contractual Price Value Exercisable Price Value $4.00 - 7.00 45,000 .0 $ 5.00 $ 0 45,000 $ 5.00 $ 0 $7.01 - 10.00 20,000 .0 $ 8.07 $ 0 20,000 $ 8.07 $ 0 $10.01 - 12.00 220,000 .1 $ 10.81 $ 0 180,000 $ 11.05 $ 0 $12.01 - 15.00 125,000 1.5 $ 15.00 $ 0 125,000 $ 15.00 $ 0 No three March 31, 2021. March 31, 2021, $7,900 1.00 Restricted Stock Awards The following table summarizes restricted stock awards for the three March 31, 2021: Weighted Average Grant Shares of Date Fair Restricted Stock Value Unvested outstanding at December 31, 2020 0 $ 0 Granted 42,800 $ 4.65 Vested 0 $ 0 Forfeited/Cancelled 0 $ 0 Unvested outstanding at March 31, 2021 42,800 $ 4.65 Restricted Stock Units The following table summarizes restricted stock units for the three March 31, 2021: Weighted Shares of Average Grant Restricted Date Fair Stock Units Value Unvested outstanding at December 31, 2020 8,750 $ 5.00 Granted 2,333 $ 5.36 Vested (5,583 ) $ 5.32 Forfeited/Cancelled (- ) $ - Unvested outstanding at March 31, 2021 5,500 $ 4.83 The total fair value of vested restricted stock units was $29,700 three March 31, 2021. The fair value of the outstanding restricted stock units will be recorded as stock compensation expense over the vesting period. As of March 31, 2021, $20,000 1.0

Note 10 - Income Taxes

Note 10 - Income Taxes	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 10: As of March 31, 2021 December 31, 2020, three not may not March 27, 2020, 2018 2020 five $1.5 $.7 March 31, 2021 December 31, 2020.

Note 11 - Earnings Per Share

Note 11 - Earnings Per Share	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE 11: Basic earnings per share is computed by dividing net earnings available to common shareholders (the numerator) by the weighted average number of common shares outstanding (the denominator) for the period presented. The computation of diluted earnings per share is similar to basic earnings per share, except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potentially dilutive common shares had been issued. Stock options to purchase 410,000 370,000 March 31, 2021. 417,000 292,000 March 31, 2020. three March 31, 2021, 410,000 three March 31, 2020, 417,000 not The dilutive potential common shares on options is calculated in accordance with the treasury stock method, which assumes that proceeds from the exercise of all options are used to repurchase common stock at market value. The number of shares remaining after the proceeds are exhausted represents the potential dilutive effect of the securities.

Note 12 - Segment Reporting

Note 12 - Segment Reporting	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE 12: The Company operates through three 3 The Company's corporate administration activities are reported in the Eliminations and Unallocated column. These activities primarily include intercompany profit, expenses related to certain corporate officers and support staff, expenses related to the Company's Board of Directors, stock option expense for shares granted to corporate administration employees, certain consulting expenses, investor and shareholder relations activities, and all of the Company's legal, auditing and professional fees, and interest expense. NOTE 12: Three Months Ended March 31, (In thousands) Eliminations* and 2021 CVD SDC Materials Unallocated Consolidated Assets $ 29,659 $ 6,116 $ 3,407 $ 24 $ 39,206 Revenue 2,006 827 629 (96 ) 3,366 Operating loss (575 ) (5 ) (110 ) (929 ) (1,619 ) Pretax (loss) income (590 ) (5 ) 18 (929 ) (1,506 ) 2020 Assets $ 36,699 $ 6,451 $ 5,653 $ (9 ) $ 48,794 Revenue 4,097 1,819 284 (164 ) 6,036 Operating income/(loss) 592 603 (357 ) (730 ) 108 Pretax income/(loss) 589 610 (341 ) (730 ) 128 *All elimination entries represent intersegment revenues eliminated in consolidation for external financial reporting.

Note 13 - Significant Events -

Note 13 - Significant Events - Coronavirus (COVID-19)	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Effect of Covid-19 Pandemic [Text Block]	NOTE 13: 19 The Company has been actively monitoring the coronavirus (COVID- 19 March 2020, 19 19 19 first 2020, December 31, 2020 first 2021 second 2020. first 2020 19, December 31, 2020 first March 31, 2021 2021 19

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition The Company designs, manufactures and sells custom chemical vapor deposition equipment through contractual agreements. These system sales require the Company to deliver functioning equipment that is generally completed within three eighteen three eighteen Incurred costs include all direct material and labor costs and those indirect costs related to contract performance, such as supplies, tools, repairs and depreciation costs. Contract material costs are included in incurred costs when the project materials have been purchased or moved to work in process, and installed, as required by the project's engineering design. Cost based input methods of revenue recognition require the Company to make estimates of costs to complete the projects. In making such estimates, significant judgment is required to evaluate assumptions related to the costs to complete the projects, including materials, labor and other system costs. If the estimated total costs on any contract are greater than the net contract revenues, the Company recognizes the entire estimated loss in the period the loss becomes known and can be reasonably estimated. “Contract assets,” include unbilled amounts typically resulting from system sales under contracts and revenue recognized exceeds the amount billed to the customer. The amount may not “Contract liabilities,” include advance payments and billings in excess of revenue recognized. The Company typically receives down payments upon receipt of order and progress payments during the manufacturing cycle. Contract liabilities are classified as current based on our contract operating cycle and reported on a contract-by-contract basis, net of revenue recognized, at the end of each reporting period. For outright sales of products, revenue is recognized when control of the promised products or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those products or services (the transaction price). A performance obligation is a promise in a contract to transfer a distinct product or service to a customer and is the unit of account under ASC 606,
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Standards In June 2016, 2016 13, 326 November 15, 2019, December 15, 2022 December 15, 2018 We believe there is no not may

Note 4 - Revenue Disaggregati_2

Note 4 - Revenue Disaggregation (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Month's Ending March 31, 2021 Over time Point in time Total Aerospace $ 189 $ 526 $ 715 Industrial $ 1,369 $ 675 $ 2,044 Research $ 187 $ 420 $ 607 Total $ 1,745 $ 1,621 $ 3,366 Three Month's Ending March 31, 2020 Over time Point in time Total Aerospace $ 1,165 $ 2,185 $ 3,350 Industrial $ 127 $ 861 $ 988 Research $ 594 $ 1,104 $ 1,698 Total $ 1,886 $ 4,150 $ 6,036
Schedule Of Cost And Estimated Earnings In Excess Of Billings [Table Text Block]	2021 Costs incurred on contracts in progress $ 5,266,960 Estimated earnings 2,503,933 7,770,893 Billings to date (6,867,896 ) $ 902,997 Deferred revenue related to non-systems contracts (609,216 ) 293,781 Included in accompanying balance sheets Under the following captions: Contract assets $ 1,027,288 Contract liabilities $ (733,507 )

Note 5 - Inventories, Net (Tabl

Note 5 - Inventories, Net (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Inventory, Current [Table Text Block]	Inventories consist of: March 31, 2021 December 31, 2020 Raw materials $ 1,059,663 $ 928,221 Work-in-process 280,337 195,618 Inventories $ 1,340,000 $ 1,123,839

Note 9 - Stock-based Compensa_2

Note 9 - Stock-based Compensation Expense (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Share-based Payment Arrangement, Option, Activity [Table Text Block]	2001 Non-Qualified Stock Option Plan Beginning Granted Exercised Canceled Ending Balance During During During Balance Outstanding Period Period Period Outstanding Exercisable Number of shares 7,000 - - (7,000 ) - - Weighted average exercise price per share $ 7.90 - - $ 7.90 - - 2007 Share Incentive Plan Beginning Granted Exercised Canceled Ending Balance During During During Balance Outstanding Period Period Period Outstanding Exercisable Number of shares 345,000 - - - 345,000 305,000 Weighted average exercise price per share $ 12.33 - - - $ 12.33 $ 12.33 2016 Share Incentive Plan Beginning Granted Exercised Canceled Ending Balance During During During Balance Outstanding Period Period Period Outstanding Exercisable Number of shares 65,000 - - - 65,000 65,000 Weighted average exercise price per share $ 5.94 - - - $ 5.94 $ 5.94
Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block]	Options Outstanding Options Exercisable Weighted Weighted Weighted Average Average Average Exercise Number Remaining Exercise Intrinsic Number Exercise Intrinsic Price Range Outstanding Contractual Price Value Exercisable Price Value $4.00 - 7.00 45,000 .0 $ 5.00 $ 0 45,000 $ 5.00 $ 0 $7.01 - 10.00 20,000 .0 $ 8.07 $ 0 20,000 $ 8.07 $ 0 $10.01 - 12.00 220,000 .1 $ 10.81 $ 0 180,000 $ 11.05 $ 0 $12.01 - 15.00 125,000 1.5 $ 15.00 $ 0 125,000 $ 15.00 $ 0
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]	Weighted Average Grant Shares of Date Fair Restricted Stock Value Unvested outstanding at December 31, 2020 0 $ 0 Granted 42,800 $ 4.65 Vested 0 $ 0 Forfeited/Cancelled 0 $ 0 Unvested outstanding at March 31, 2021 42,800 $ 4.65 Weighted Shares of Average Grant Restricted Date Fair Stock Units Value Unvested outstanding at December 31, 2020 8,750 $ 5.00 Granted 2,333 $ 5.36 Vested (5,583 ) $ 5.32 Forfeited/Cancelled (- ) $ - Unvested outstanding at March 31, 2021 5,500 $ 4.83

Note 12 - Segment Reporting (Ta

Note 12 - Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Eliminations* and 2021 CVD SDC Materials Unallocated Consolidated Assets $ 29,659 $ 6,116 $ 3,407 $ 24 $ 39,206 Revenue 2,006 827 629 (96 ) 3,366 Operating loss (575 ) (5 ) (110 ) (929 ) (1,619 ) Pretax (loss) income (590 ) (5 ) 18 (929 ) (1,506 ) 2020 Assets $ 36,699 $ 6,451 $ 5,653 $ (9 ) $ 48,794 Revenue 4,097 1,819 284 (164 ) 6,036 Operating income/(loss) 592 603 (357 ) (730 ) 108 Pretax income/(loss) 589 610 (341 ) (730 ) 128

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation (Details Textual) - USD ($)	3 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Mar. 31, 2021
Asset Impairment Charges, Total		$ 3,600,000
HSBC Bank Second Mortgage Loan [Member]
Secured Debt, Total			$ 9,200,000
The Premises at 555 N Research Place, Central Islip, NY [Member] | Forecast [Member]
Proceeds from Sale of Buildings	$ 24,360,000

Note 3 - Concentration of Cre_2

Note 3 - Concentration of Credit Risk (Details Textual)	3 Months Ended		9 Months Ended	12 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2020	Sep. 30, 2020	Dec. 31, 2020USD ($)
Cash and Cash Equivalents, at Carrying Value, Ending Balance	$ 5,929,363			$ 7,699,335
Cash Equivalents, at Carrying Value, Total	1,000,000			1,000,000
Cash, Uninsured Amount	$ 3,677,000			$ 5,822,000
Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Number Of Major Customers	1		3
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer A [Member]
Concentration Risk, Percentage	30.70%	27.10%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer B [Member]
Concentration Risk, Percentage		21.50%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer C [Member]
Concentration Risk, Percentage		19.30%
Customer Concentration Risk [Member] | Accounts Receivable [Member]
Number Of Major Customers	2			2
Concentration Risk, Percentage	25.10%			35.00%

Note 4 - Revenue Disaggregati_3

Note 4 - Revenue Disaggregation (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Contract with Customer, Cumulative Catch-up Adjustment to Revenue, Change in Estimate of Transaction Price and Input Costs	$ 1,700,000
Increase (Decrease) in Contract with Customer, Asset	$ 533,007	$ 1,240,143

Note 4 - Revenue Disaggregati_4

Note 4 - Revenue Disaggregation - Disaggregation of Revenue (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net Revenue	$ 3,365,860	$ 6,036,360
Transferred over Time [Member]
Net Revenue	1,745,000	1,886,000
Transferred at Point in Time [Member]
Net Revenue	1,621,000	4,150,000
Aerospace [Member]
Net Revenue	715,000	3,350,000
Aerospace [Member] | Transferred over Time [Member]
Net Revenue	189,000	1,165,000
Aerospace [Member] | Transferred at Point in Time [Member]
Net Revenue	526,000	2,185,000
Industrial [Member]
Net Revenue	2,044,000	988,000
Industrial [Member] | Transferred over Time [Member]
Net Revenue	1,369,000	127,000
Industrial [Member] | Transferred at Point in Time [Member]
Net Revenue	675,000	861,000
Research [Member]
Net Revenue	607,000	1,698,000
Research [Member] | Transferred over Time [Member]
Net Revenue	187,000	594,000
Research [Member] | Transferred at Point in Time [Member]
Net Revenue	$ 420,000	$ 1,104,000

Note 4 - Revenue Disaggregati_5

Note 4 - Revenue Disaggregation - Costs, Estimated Earnings, and Billings on Uncompleted Contracts (Details)	Mar. 31, 2021USD ($)
Costs incurred on contracts in progress	$ 5,266,960
Estimated earnings	2,503,933
Costs and Estimated Earnings on Uncompleted Contracts	7,770,893
Billings to date	(6,867,896)
Net Cost in Excess of Billings	902,997
Deferred revenue related to non-systems contracts	(609,216)
Contract Liability In Excess of Contract Assets	293,781
Included in accompanying balance sheets
Contract assets	1,027,288
Contract liabilities	$ (733,507)

Note 5 - Inventories, Net - Com

Note 5 - Inventories, Net - Components of Inventories (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Raw materials	$ 1,059,663	$ 928,221
Work-in-process	280,337	195,618
Inventories	$ 1,340,000	$ 1,123,839

Note 6 - Accounts Receivable,_2

Note 6 - Accounts Receivable, Net (Details Textual) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Accounts Receivable, Allowance for Credit Loss, Ending Balance	$ 164,000	$ 164,000

Note 7 - Long-term Debt (Detail

Note 7 - Long-term Debt (Details Textual)	Apr. 21, 2020USD ($)	Nov. 30, 2017USD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)
Payments to Acquire Property, Plant, and Equipment, Total			$ 26,744	$ 422,435
HSBC Bank Mortgage Loan [Member]
Debt Instrument, Number of Payments					120
Debt Instrument, Periodic Payment, Total					$ 25,000
Long-term Debt, Total			$ 2,000,000		$ 2,100,000
Debt Instrument, Interest Rate, Stated Percentage			1.86%		1.89%
HSBC Bank Mortgage Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate			1.75%
HSBC Bank Mortgage Loan [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate			0.50%
HSBC Bank Second Mortgage Loan [Member]
Debt Instrument, Number of Payments					60
Debt Instrument, Periodic Payment, Total					$ 62,481
Long-term Debt, Total			$ 9,200,000		$ 9,300,000
Debt Instrument, Interest Rate, Stated Percentage					3.9148%
Debt Instrument, Face Amount		$ 10,387,500
HSBC Bank Second Mortgage Loan [Member] | Premises at 555 North Research Place, Central Islip, NY [Member]
Payments to Acquire Property, Plant, and Equipment, Total		$ 13,850,000
Paycheck Protection Program CARES Act [Member]
Proceeds from Issuance of Long-term Debt, Total	$ 2,415,970

Note 8 - Asset and Liabilitie_2

Note 8 - Asset and Liabilities Held for Sale (Details Textual) - USD ($)	3 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Disposal Group, Including Discontinued Operation, Assets, Current, Total		$ 16,181,368
Disposal Group, Including Discontinued Operation, Liabilities, Current, Total		9,218,683
The Premises at 555 N Research Place, Central Islip, NY [Member]
Disposal Group, Including Discontinued Operation, Assets, Current, Total		16,200,000
Disposal Group, Including Discontinued Operation, Liabilities, Current, Total		9,200,000
HSBC Bank Second Mortgage Loan [Member]
Secured Debt, Total		$ 9,200,000
The Premises at 555 N Research Place, Central Islip, NY [Member] | Forecast [Member]
Proceeds from Sale of Buildings	$ 24,360,000

Note 9 - Stock-based Compensa_3

Note 9 - Stock-based Compensation Expense (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Payment Arrangement, Expense, Par Value	$ 44,000	$ 73,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)	410,000	417,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number (in shares)	370,000	292,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares)	0
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 7,900
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	1 year
Restricted Stock Units (RSUs) [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 20,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	1 year
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 29,700

Note 9 - Stock-based Compensa_4

Note 9 - Stock-based Compensation Expense - Stock Option Plan (Details) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Exercised during period (in shares)	0
Ending balance, number outstanding (in shares)	410,000
Number of shares exercisable (in shares)	370,000	292,000
The 2001 Non-qualified Stock Option Plan [Member]
Beginning balance, number outstanding (in shares)	7,000
Granted during period (in shares)
Exercised during period (in shares)
Canceled during period (in shares)	(7,000)
Ending balance, number outstanding (in shares)
Number of shares exercisable (in shares)
Beginning balance, weighted average exercise price (in dollars per share)	$ 7.90
Granted during period, weighted average exercise price (in dollars per share)
Exercised during period, weighted average exercise price (in dollars per share)
Canceled during period, weighted average exercise price (in dollars per share)	7.90
Ending balance, weighted average exercise price (in dollars per share)
Number of options exercisable, weighted average exercise price (in dollars per share)
The 2007 Share Incentive Plan [Member]
Beginning balance, number outstanding (in shares)	345,000
Granted during period (in shares)
Exercised during period (in shares)
Canceled during period (in shares)
Ending balance, number outstanding (in shares)	345,000
Number of shares exercisable (in shares)	305,000
Beginning balance, weighted average exercise price (in dollars per share)	$ 12.33
Granted during period, weighted average exercise price (in dollars per share)
Exercised during period, weighted average exercise price (in dollars per share)
Canceled during period, weighted average exercise price (in dollars per share)
Ending balance, weighted average exercise price (in dollars per share)	12.33
Number of options exercisable, weighted average exercise price (in dollars per share)	$ 12.33
The 2016 Share Incentive Plan [Member]
Beginning balance, number outstanding (in shares)	65,000
Granted during period (in shares)
Exercised during period (in shares)
Canceled during period (in shares)
Ending balance, number outstanding (in shares)	65,000
Number of shares exercisable (in shares)	65,000
Beginning balance, weighted average exercise price (in dollars per share)	$ 5.94
Granted during period, weighted average exercise price (in dollars per share)
Exercised during period, weighted average exercise price (in dollars per share)
Canceled during period, weighted average exercise price (in dollars per share)
Ending balance, weighted average exercise price (in dollars per share)	5.94
Number of options exercisable, weighted average exercise price (in dollars per share)	$ 5.94

Note 9 - Stock-based Compensa_5

Note 9 - Stock-based Compensation Expense - Outstanding and Exercisable Options (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)$ / sharesshares
Exercise Price Range 1 [Member]
Exercise price range, lower limit (in dollars per share)	$ 4
Exercise price range, upper limit (in dollars per share)	$ 7
Number of options outstanding (in shares) | shares	45,000
Number of options outstanding, weighted average remaining contractual term (Year)	0 years
Number of options outstanding, weighted average exercise price (in dollars per share)	$ 5
Number of options outstanding, intrinsic value | $	$ 0
Number of options exercisable (in shares) | shares	45,000
Number of options exercisable, weighted average exercise price (in dollars per share)	$ 5
Number of options exercisable, intrinsic value | $	$ 0
Exercise Price Range 2 [Member]
Exercise price range, lower limit (in dollars per share)	$ 7.01
Exercise price range, upper limit (in dollars per share)	$ 10
Number of options outstanding (in shares) | shares	20,000
Number of options outstanding, weighted average remaining contractual term (Year)	0 years
Number of options outstanding, weighted average exercise price (in dollars per share)	$ 8.07
Number of options outstanding, intrinsic value | $	$ 0
Number of options exercisable (in shares) | shares	20,000
Number of options exercisable, weighted average exercise price (in dollars per share)	$ 8.07
Number of options exercisable, intrinsic value | $	$ 0
Exercise Price Range 3 [Member]
Exercise price range, lower limit (in dollars per share)	$ 10.01
Exercise price range, upper limit (in dollars per share)	$ 12
Number of options outstanding (in shares) | shares	220,000
Number of options outstanding, weighted average remaining contractual term (Year)	36 days
Number of options outstanding, weighted average exercise price (in dollars per share)	$ 10.81
Number of options outstanding, intrinsic value | $	$ 0
Number of options exercisable (in shares) | shares	180,000
Number of options exercisable, weighted average exercise price (in dollars per share)	$ 11.05
Number of options exercisable, intrinsic value | $	$ 0
Exercise Price Range 4 [Member]
Exercise price range, lower limit (in dollars per share)	$ 12.01
Exercise price range, upper limit (in dollars per share)	$ 15
Number of options outstanding (in shares) | shares	125,000
Number of options outstanding, weighted average remaining contractual term (Year)	1 year 182 days
Number of options outstanding, weighted average exercise price (in dollars per share)	$ 15
Number of options outstanding, intrinsic value | $	$ 0
Number of options exercisable (in shares) | shares	125,000
Number of options exercisable, weighted average exercise price (in dollars per share)	$ 15
Number of options exercisable, intrinsic value | $	$ 0

Note 9 - Stock-based Compensa_6

Note 9 - Stock-based Compensation Expense - Restricted Stock and Restricted Stock Units Activity (Details)	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Restricted Stock [Member]
Unvested outstanding at beginning of period (in shares) | shares	0
Unvested outstanding at beginning of period, weighted average grant date fair value (in dollars per share) | $ / shares	$ 0
Granted (in shares) | shares	42,800
Granted, weighted average grant date fair value (in dollars per share) | $ / shares	$ 4.65
Vested (in shares) | shares	0
Vested, weighted average grant date fair value (in dollars per share) | $ / shares	$ 0
Forfeited/Cancelled (in shares) | shares	0
Forfeited/Cancelled, weighted average grant date fair value (in dollars per share) | $ / shares	$ 0
Unvested outstanding at end of period (in shares) | shares	42,800
Unvested outstanding at beginning of period, weighted average grant date fair value (in dollars per share) | $ / shares	$ 4.65
Restricted Stock Units (RSUs) [Member]
Unvested outstanding at beginning of period (in shares) | shares	8,750
Unvested outstanding at beginning of period, weighted average grant date fair value (in dollars per share) | $ / shares	$ 5
Granted (in shares) | shares	2,333
Granted, weighted average grant date fair value (in dollars per share) | $ / shares	$ 5.36
Vested (in shares) | shares	(5,583)
Vested, weighted average grant date fair value (in dollars per share) | $ / shares	$ 5.32
Forfeited/Cancelled (in shares) | shares
Forfeited/Cancelled, weighted average grant date fair value (in dollars per share) | $ / shares
Unvested outstanding at end of period (in shares) | shares	5,500
Unvested outstanding at beginning of period, weighted average grant date fair value (in dollars per share) | $ / shares	$ 4.83

Note 10 - Income Taxes (Details

Note 10 - Income Taxes (Details Textual) - USD ($) $ in Millions	Mar. 27, 2020	Mar. 31, 2021	Dec. 31, 2020
Income Tax Benefit, Cares Act	$ (1.5)
Income Taxes Receivable		$ 0.7	$ 0.7

Note 11 - Earnings Per Share (D

Note 11 - Earnings Per Share (Details Textual) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)	410,000	417,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number (in shares)	370,000	292,000
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	410,000	417,000

Note 12 - Segment Reporting (De

Note 12 - Segment Reporting (Details Textual)	3 Months Ended
	Mar. 31, 2021
Number of Operating Segments	3

Note 12 - Segment Reporting - S

Note 12 - Segment Reporting - Segment Information (Details) - USD ($)		3 Months Ended
		Mar. 31, 2021		Mar. 31, 2020	Dec. 31, 2020
Assets		$ 39,205,534		$ 48,794,000	$ 40,935,925
Assets		(39,205,534)		(48,794,000)	$ (40,935,925)
Revenue		3,365,860		6,036,360
Operating loss		(1,618,787)		108,161
Pretax (loss) income		(1,505,550)		127,834
Intersegment Eliminations [Member]
Assets	[1]	(24,000)		(9,000)
Assets	[1]	24,000		9,000
Revenue	[1]	(96,000)		(164,000)
Operating loss	[1]	(929,000)		(730,000)
Pretax (loss) income		(929,000)	[1]	128,000
Corporate, Non-Segment [Member]
Pretax (loss) income				(730,000)
CVD [Member] | Operating Segments [Member]
Assets		29,659,000		36,699,000
Assets		(29,659,000)		(36,699,000)
Revenue		2,006,000		4,097,000
Operating loss		(575,000)		592,000
Pretax (loss) income		(590,000)		589,000
SDC [Member] | Operating Segments [Member]
Assets		6,116,000		6,451,000
Assets		(6,116,000)		(6,451,000)
Revenue		827,000		1,819,000
Operating loss		(5,000)		603,000
Pretax (loss) income		(5,000)		610,000
Materials [Member] | Operating Segments [Member]
Assets		3,407,000		5,653,000
Assets		(3,407,000)		(5,653,000)
Revenue		629,000		284,000
Operating loss		(110,000)		(357,000)
Pretax (loss) income		$ 18,000		$ (341,000)
[1]	All elimination entries represent intersegment revenues eliminated in consolidation for external financial reporting.