2022 Q3 Form 10-Q Financial Statement

#000121390022049926 Filed on August 22, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $13.28M $14.01M $12.06M
YoY Change -7.5% -9.35% -12.03%
Cost Of Revenue $11.04M $11.59M $9.984M
YoY Change -10.57% -9.84% -16.21%
Gross Profit $2.242M $2.422M $2.078M
YoY Change 11.32% -6.95% 15.64%
Gross Profit Margin 16.89% 17.29% 17.23%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $598.0K $643.0K $665.0K
YoY Change -13.08% -8.66% -6.73%
% of Gross Profit 26.67% 26.55% 32.0%
Operating Expenses $2.073M $2.172M $1.871M
YoY Change 12.85% 0.42% 5.71%
Operating Profit $169.0K $250.0K $207.0K
YoY Change -4.52% -43.18% 666.67%
Interest Expense $118.0K $125.0K -$323.0K
YoY Change -135.65% -0.79% 8.75%
% of Operating Profit 69.82% 50.0% -156.04%
Other Income/Expense, Net $12.00K $32.00K $88.00K
YoY Change -86.36% -75.76% -25.42%
Pretax Income -$142.0K -$7.000K -$28.00K
YoY Change 115.15% -102.93% -81.58%
Income Tax
% Of Pretax Income
Net Earnings -$142.0K -$7.000K -$28.00K
YoY Change 115.15% -102.93% -81.58%
Net Earnings / Revenue -1.07% -0.05% -0.23%
Basic Earnings Per Share -$0.04 $0.00 -$0.01
Diluted Earnings Per Share -$0.04 -$217.30 -$870.00
COMMON SHARES
Basic Shares Outstanding 32.36M shares 32.21M shares 3.218M shares
Diluted Shares Outstanding 3.232M shares 32.21M shares 3.218M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $192.0K $930.0K $364.0K
YoY Change -72.25% 80.58% -78.97%
Cash & Equivalents $192.0K $930.0K $364.0K
Short-Term Investments
Other Short-Term Assets $275.0K $253.0K $280.0K
YoY Change -20.75% 6.75% 5.66%
Inventory $33.41M $32.99M $32.00M
Prepaid Expenses
Receivables $8.658M $9.078M $7.558M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $42.53M $43.25M $40.20M
YoY Change 3.88% 0.18% -8.39%
LONG-TERM ASSETS
Property, Plant & Equipment $8.478M $8.423M $11.06M
YoY Change -26.95% -30.19% -11.78%
Goodwill $163.0K $163.0K
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $989.0K $1.020M $1.026M
YoY Change 22.25% 19.86% 31.37%
Total Long-Term Assets $12.25M $12.36M $12.25M
YoY Change -2.64% -5.51% -9.14%
TOTAL ASSETS
Total Short-Term Assets $42.53M $43.25M $40.20M
Total Long-Term Assets $12.25M $12.36M $12.25M
Total Assets $54.78M $55.61M $52.45M
YoY Change 2.35% -1.14% -8.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.979M $7.781M $7.042M
YoY Change -0.63% 5.32% -14.6%
Accrued Expenses $754.0K $731.0K $708.0K
YoY Change 13.55% 13.69% 2.16%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $14.82M $14.07M $13.28M
YoY Change 3.75% -13.53% -14.92%
Total Short-Term Liabilities $24.20M $24.35M $22.80M
YoY Change 1.06% -7.86% -15.24%
LONG-TERM LIABILITIES
Long-Term Debt $10.16M $10.60M $8.977M
YoY Change 1.18% 3.52% -18.38%
Other Long-Term Liabilities $2.783M $2.989M $3.188M
YoY Change -22.15% -20.44% -19.96%
Total Long-Term Liabilities $12.95M $13.59M $12.17M
YoY Change -4.94% -2.91% -18.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $24.20M $24.35M $22.80M
Total Long-Term Liabilities $12.95M $13.59M $12.17M
Total Liabilities $37.14M $37.94M $34.97M
YoY Change -1.93% -6.87% -17.13%
SHAREHOLDERS EQUITY
Retained Earnings -$64.71M -$64.57M
YoY Change
Common Stock $82.35M $82.24M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $17.64M $17.67M $17.48M
YoY Change
Total Liabilities & Shareholders Equity $54.78M $55.61M $52.45M
YoY Change 2.35% -1.14% -8.57%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$142.0K -$7.000K -$28.00K
YoY Change 115.15% -102.93% -81.58%
Depreciation, Depletion And Amortization $598.0K $643.0K $665.0K
YoY Change -13.08% -8.66% -6.73%
Cash From Operating Activities -$388.0K -$970.0K $1.285M
YoY Change -114.4% 29.68% 126.63%
INVESTING ACTIVITIES
Capital Expenditures -$653.0K -$897.0K -$430.0K
YoY Change 85.51% 150.56% 57.51%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$653.0K -$897.0K -$430.0K
YoY Change 85.51% 150.56% 57.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 303.0K 2.433M -1.118M
YoY Change -113.99% -2311.82% 4.68%
NET CHANGE
Cash From Operating Activities -388.0K -970.0K 1.285M
Cash From Investing Activities -653.0K -897.0K -430.0K
Cash From Financing Activities 303.0K 2.433M -1.118M
Net Change In Cash -738.0K 566.0K -263.0K
YoY Change -516.95% -146.55% -66.02%
FREE CASH FLOW
Cash From Operating Activities -$388.0K -$970.0K $1.285M
Capital Expenditures -$653.0K -$897.0K -$430.0K
Free Cash Flow $265.0K -$73.00K $1.715M
YoY Change -91.3% -81.28% 104.17%

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IncreaseDecreaseInInventories
-1911000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
49000 usd
us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
5000 usd
us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
99000 usd
us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
4000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1093000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-894000 usd
airi Increase Decrease In Long Term Lease Liability
IncreaseDecreaseInLongTermLeaseLiability
331000 usd
airi Increase Decrease In Long Term Lease Liability
IncreaseDecreaseInLongTermLeaseLiability
390000 usd
us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
-53000 usd
us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
673000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
315000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-181000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1327000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
631000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1327000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-631000 usd
airi Note Payable Revolver Net Sterling National Bank
NotePayableRevolverNetSterlingNationalBank
888000 usd
airi Note Payable Revolver Net Sterling National Bank
NotePayableRevolverNetSterlingNationalBank
-393000 usd
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
1945000 usd
airi Proceeds From Note Payable Term Note Webster Bank
ProceedsFromNotePayableTermNoteWebsterBank
-1251000 usd
airi Proceeds From Note Payable Term Note Webster Bank
ProceedsFromNotePayableTermNoteWebsterBank
-778000 usd
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
263000 usd
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
3000 usd
airi Payments Of Loan Payable Equipments
PaymentsOfLoanPayableEquipments
-4000 usd
airi Payments Of Loan Payable Equipments
PaymentsOfLoanPayableEquipments
-4000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1315000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1178000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
303000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1990000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
627000 usd
CY2022Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
141000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2505000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
930000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
515000 usd
airi Cash Paid During The Period For Interest
CashPaidDuringThePeriodForInterest
572000 usd
airi Cash Paid During The Period For Interest
CashPaidDuringThePeriodForInterest
612000 usd
airi Capitalization Of Related Party Note Interest To Principal
CapitalizationOfRelatedPartyNoteInterestToPrincipal
400000 usd
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
239000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-35000 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Credit and Concentration Risks</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">There were three customers that represented 66.2% and 76.2% of total net sales for the three months ended June 30, 2022 and 2021, respectively. This is set forth in the table below.</p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: left; font-weight: bold"/><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Percentage of Sales</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left"><b>Customer</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">June 30,<br/> 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">June 30,<br/> 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td> </td> <td colspan="2" style="text-align: center">(Unaudited)</td><td> </td><td> </td> <td colspan="2" style="text-align: center">(Unaudited)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">1</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">29.5</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">41.3</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26.4</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20.8</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">3</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10.3</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-41">*</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">4</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-42">**</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14.1</td><td style="text-align: left">%</td></tr> </table><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"/><td style="width: 0.25in; text-align: left">*</td><td style="text-align: justify">Customer was less than 10% of sales for the three months ended June 30, 2021.</td> </tr></table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"/><td style="width: 0.25in; text-align: left">**</td><td style="text-align: justify">Customer was less than 10% of sales for the three months ended June 30, 2022.</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">There were four customers that represented 77.9% and three customers that represented 77.0% of total net sales for the six months ended June 30, 2022 and 2021, respectively. This is set forth in the table below.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"/><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Percentage of Sales</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid"><b>Customer</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">June 30,<br/> 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">June 30,<br/> 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">(Unaudited)</td><td> </td><td> </td> <td colspan="2" style="text-align: center">(Unaudited)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">1</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">28.4</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">34.4</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25.8</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26.9</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">3</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13.7</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15.7</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">4</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-43">*</div></td><td style="text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"/><td style="width: 0.25in; text-align: left">*</td><td style="text-align: justify">Customer was less than 10% of sales for the six months ended June 30, 2021.</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">There were three customers that represented 67.7% and 74.7% of gross accounts receivable at June 30, 2022 and December 31, 2021, respectively. This is set forth in the table below.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Percentage of Receivables</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold">Customer</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">June 30,<br/> 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,<br/> 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">1</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">43.4</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">50.3</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12.5</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12.7</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">3</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11.8</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11.7</td><td style="text-align: left">%</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
airi Number Of Customers
NumberOfCustomers
3 pure
CY2022Q2 us-gaap Revenues
Revenues
14008000 usd
CY2021Q2 us-gaap Revenues
Revenues
15453000 usd
us-gaap Revenues
Revenues
26070000 usd
us-gaap Revenues
Revenues
29165000 usd
CY2022Q2 us-gaap Deposit Liability Current
DepositLiabilityCurrent
1417000 usd
CY2021Q4 us-gaap Deposit Liability Current
DepositLiabilityCurrent
1470000 usd
CY2022Q2 airi Revenue Recognized
RevenueRecognized
0 usd
airi Revenue Recognized
RevenueRecognized
53000 usd
CY2021Q2 airi Revenue Recognized
RevenueRecognized
370000 usd
airi Revenue Recognized
RevenueRecognized
375000 usd
airi Backlog Represents Executed Noncancellable Contracts Description
BacklogRepresentsExecutedNoncancellableContractsDescription
Backlog represents executed non-cancellable contracts that represent firm orders that are deliverable over the next 18- month period. As of June 30, 2022, backlog relating to remaining performance obligations in contracts was approximately $73,000,000. We expect to recognize revenue amounts in future periods related to these remaining performance obligations as follows: approximately $25,000,000 to $30,000,000 of our backlog during the remainder of 2022, approximately $25,000,000 to $30,000,000 from January 1, 2023 - June 30, 2023, and approximately $13,000,000 to $18,000,000 from July 1, 2023 through December 31, 2023. This expectation is based on the Company’s belief that raw material will be delivered on time from its suppliers, and that its customers will accept delivery as scheduled. 
CY2021Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
57000 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
207000 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
214000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-7000 usd
airi Warrants
Warrants
760000 usd
airi Warrants
Warrants
1423000 usd
CY2022Q2 airi Stock Options And Warrants
StockOptionsAndWarrants
3124332 usd
CY2021Q2 airi Stock Options And Warrants
StockOptionsAndWarrants
2359000 usd
airi Stock Options And Warrants
StockOptionsAndWarrants
3124332 usd
airi Stock Options And Warrants
StockOptionsAndWarrants
1521000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
87000 usd
CY2021Q2 airi Convertible Note Interest
ConvertibleNoteInterest
77000 usd
airi Convertible Note Interest
ConvertibleNoteInterest
155000 usd
CY2022Q2 airi Loss Income Used To Calculate Diluted Earnings Per Share
LossIncomeUsedToCalculateDilutedEarningsPerShare
-7000 usd
CY2021Q2 airi Loss Income Used To Calculate Diluted Earnings Per Share
LossIncomeUsedToCalculateDilutedEarningsPerShare
316000 usd
airi Loss Income Used To Calculate Diluted Earnings Per Share
LossIncomeUsedToCalculateDilutedEarningsPerShare
-35000 usd
airi Loss Income Used To Calculate Diluted Earnings Per Share
LossIncomeUsedToCalculateDilutedEarningsPerShare
242000 usd
CY2022Q2 airi Weighted Average Shares Outstanding Used To Compute Basic Earnings Per Share
WeightedAverageSharesOutstandingUsedToComputeBasicEarningsPerShare
32213769 shares
CY2021Q2 airi Weighted Average Shares Outstanding Used To Compute Basic Earnings Per Share
WeightedAverageSharesOutstandingUsedToComputeBasicEarningsPerShare
32021522 shares
airi Weighted Average Shares Outstanding Used To Compute Basic Earnings Per Share
WeightedAverageSharesOutstandingUsedToComputeBasicEarningsPerShare
32212853 shares
airi Weighted Average Shares Outstanding Used To Compute Basic Earnings Per Share
WeightedAverageSharesOutstandingUsedToComputeBasicEarningsPerShare
31996859 shares
CY2021Q2 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
1912500 usd
us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
2750500 usd
CY2021Q2 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
4057892 usd
CY2021Q2 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
4057892 usd
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32213769 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37991914 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32212853 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38805251 shares
CY2022Q2 airi Stock Options
StockOptions
2364332 usd
CY2021Q2 airi Stock Options
StockOptions
456000 usd
airi Stock Options
StockOptions
2364332 usd
airi Stock Options
StockOptions
98000 usd
CY2022Q2 airi Warrants
Warrants
760000 usd
CY2021Q2 airi Warrants
Warrants
1903000 usd
CY2022Q2 airi Operating Lease Liabilities Discount
OperatingLeaseLiabilitiesDiscount
-741000 usd
CY2022Q2 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
3596000 usd
CY2022Q2 airi Less Current Portion Of Operating Lease Liabilities
LessCurrentPortionOfOperatingLeaseLiabilities
-731000 usd
CY2022Q2 airi Total Long Term Portion Of Operating Lease Maturities
TotalLongTermPortionOfOperatingLeaseMaturities
2865000 usd
CY2022Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
992000 usd
CY2022Q2 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
730000 usd
CY2022Q2 us-gaap Goodwill
Goodwill
163000 usd
CY2021Q4 us-gaap Goodwill
Goodwill
163000 usd
CY2022Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
4337000 usd
CY2022Q2 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P1Y
CY2022Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
507000 usd
CY2022Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
1038000 usd
CY2022Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
1070000 usd
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
40559000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
39232000 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
32136000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
30828000 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8423000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8404000 usd
CY2022Q2 us-gaap Depreciation
Depreciation
643000 usd
CY2021Q2 us-gaap Depreciation
Depreciation
704000 usd
us-gaap Depreciation
Depreciation
1308000 usd
us-gaap Depreciation
Depreciation
1417000 usd
airi Operating Lease Term Description
OperatingLeaseTermDescription
The leases have remaining lease terms of one to five years, some of which include options to extend or terminate the leases.
CY2022Q2 airi Lessee Operating Lease Remaining Lease Term In Years
LesseeOperatingLeaseRemainingLeaseTermInYears
P4Y1M20D
CY2021Q4 airi Lessee Operating Lease Remaining Lease Term In Years
LesseeOperatingLeaseRemainingLeaseTermInYears
P4Y6M10D
CY2022Q2 airi Operating Lease Weighted Average Discount Rate Percentage
OperatingLeaseWeightedAverageDiscountRatePercentage
0.0895 pure
CY2021Q4 airi Operating Lease Weighted Average Discount Rate Percentage
OperatingLeaseWeightedAverageDiscountRatePercentage
0.0889 pure
CY2022Q2 us-gaap Notes Payable To Bank
NotesPayableToBank
13344000 usd
CY2021Q4 us-gaap Notes Payable To Bank
NotesPayableToBank
12456000 usd
CY2022Q2 airi Term Loan Webster
TermLoanWebster
4879000 usd
CY2021Q4 airi Term Loan Webster
TermLoanWebster
4192000 usd
CY2021Q4 airi Finance Leases Obligations
FinanceLeasesObligations
263000 usd
CY2022Q2 us-gaap Loans Payable
LoansPayable
35000 usd
CY2021Q4 us-gaap Loans Payable
LoansPayable
39000 usd
CY2022Q2 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
6412000 usd
CY2021Q4 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
6412000 usd
CY2022Q2 us-gaap Notes And Loans Payable
NotesAndLoansPayable
24670000 usd
CY2021Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
23362000 usd
CY2022Q2 us-gaap Debt Current
DebtCurrent
14066000 usd
CY2021Q4 us-gaap Debt Current
DebtCurrent
14112000 usd
CY2022Q2 airi Long Term Portion
LongTermPortion
10604000 usd
CY2021Q4 airi Long Term Portion
LongTermPortion
9250000 usd
airi Loan Expires Date
LoanExpiresDate
2025-12-30
CY2022Q2 us-gaap Line Of Credit Facility Fair Value Of Amount Outstanding
LineOfCreditFacilityFairValueOfAmountOutstanding
13343000 usd
airi Revolving Loan
RevolvingLoan
4879000 usd
CY2021 us-gaap Line Of Credit Facility Revolving Credit Conversion To Term Loan Description
LineOfCreditFacilityRevolvingCreditConversionToTermLoanDescription
As of December 31, 2021, our debt to Webster in the amount of $16,648,000 consisted of the Webster Revolving Loan in the amount of $12,456,000 and the Webster term loan in the amount of $4,192,000. 
CY2022Q2 us-gaap Facility Costs
FacilityCosts
147000 usd
CY2021Q2 us-gaap Facility Costs
FacilityCosts
180000 usd
us-gaap Facility Costs
FacilityCosts
302000 usd
us-gaap Facility Costs
FacilityCosts
261000 usd
CY2020Q4 us-gaap Line Of Credit Facility Borrowing Capacity Description
LineOfCreditFacilityBorrowingCapacityDescription
In 2020, the Company entered into the First Amendment to the Webster Facility which increased the Term Loan to $5,685,000 and required the Company to make monthly principal installments in the amount of $67,679 beginning on December 1, 2020. Other minor modifications were made and the Company paid an amendment fee of $20,000. 
CY2020Q4 airi Term Loan
TermLoan
5685000 usd
CY2020 airi Amendment Fee
AmendmentFee
20000 usd
airi Excess Cash Flow Percentage
ExcessCashFlowPercentage
0.25 pure
CY2021 us-gaap Cash Acquired In Excess Of Payments To Acquire Business
CashAcquiredInExcessOfPaymentsToAcquireBusiness
558750 usd
CY2022Q2 us-gaap Cash Acquired In Excess Of Payments To Acquire Business
CashAcquiredInExcessOfPaymentsToAcquireBusiness
854000 usd
airi Amendment Fee
AmendmentFee
10000 usd
CY2022Q2 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
0.84
CY2021Q1 airi Aggregate Of Stock Options
AggregateOfStockOptions
70000 shares
CY2020Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
67679 usd
CY2021Q4 us-gaap Line Of Credit Facility Borrowing Capacity Description
LineOfCreditFacilityBorrowingCapacityDescription
On December 7, 2021, the Company entered into the Third Amendment to the Webster Facility (“Third Amendment”). The purpose of the amendment was to provide a maturity date for the Webster Facility of December 30, 2025 as compared to the original maturity date of December 30, 2022. Such amendment also increased the Revolving Line of Credit to its current limit of $20,000,000 (up from the original $16,000,000) and also provided for a similar increase in the inventory sublimit to $14,000,000 (up from the original $11,000,000). The Third Amendment, also allows the Company, subject to certain limitations, to begin amortizing $250,000 of its related party subordinated notes payable each quarter as long as certain conditions are met. In connection with these changes, the Company paid an amendment fee of $75,000. 
CY2021Q4 airi Amendment Fee
AmendmentFee
75000 usd
CY2022Q2 us-gaap Line Of Credit Facility Borrowing Capacity Description
LineOfCreditFacilityBorrowingCapacityDescription
On May 17, 2022, the Company entered into the Fourth Amendment to the Webster Facility (“Fourth Amendment”). The purpose of the amendment was to increase the Term Loan to $5,000,000, generating proceeds of $1,945,000 and establish a capital expenditure line of credit in the amount of $2,000,000 which the Company can draw upon from time to time to finance purchases of machinery and equipment, reduce the monthly principal installments to be made in respect to the term loan and increase the amount of capital expenditures that the Company may make each year. The principle payments are $59,524 per month commencing in June 2022 with a balloon payment due on December 30, 2025. In connection with these changes, the Company paid an amendment fee of $20,000. 
CY2022Q2 airi Term Loan
TermLoan
5000000 usd
CY2022Q2 us-gaap Payments For Proceeds From Deposit On Loan
PaymentsForProceedsFromDepositOnLoan
1945000 usd
CY2022Q2 us-gaap Line Of Credit
LineOfCredit
2000000 usd
CY2022Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
59524 usd
CY2022Q2 us-gaap Payments For Fees
PaymentsForFees
20000 usd
airi Webster Facility Description
WebsterFacilityDescription
Under the terms of the Webster Facility, both the Webster revolving line of credit and the Webster term loan will bear an interest rate equal to the greater of (i) 3.50% and (ii) a rate per annum equal to the rate per annum published from time to time in the “Money Rates” table of the Wall Street Journal (or such other presentation within The Wall Street Journal as may be adopted hereafter for such information) as the base or prime rate for corporate loans at the nation’s largest commercial bank, less sixty-five hundredths (-0.65%) of one percent per annum. The average interest rate charged was 3.60% and 3.50% the three months ended June 30, 2022 and 2021, respectively and was 3.55% and 3.50% for the six months ended June 30, 2022 and 2021, respectively. 
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
0 usd
CY2021 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
263000 usd
us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.042 pure
CY2022Q2 airi Loan Payable Financed Asset
LoanPayableFinancedAsset
35000 usd
CY2021Q4 airi Loan Payable Financed Asset
LoanPayableFinancedAsset
39000 usd
airi Number Of Directors
NumberOfDirectors
2 pure
us-gaap Related Party Transaction Description Of Transaction
RelatedPartyTransactionDescriptionOfTransaction
From 2016 through 2020, the Company entered into various subordinated notes payable and convertible subordinated notes payable with Michael and Robert Taglich. These notes resulted in proceeds to the Company totaling $6,550,000. In connection with these notes, Michael and Robert were issued a total of 355,082 shares of common stock and Taglich Brothers Inc. was issued promissory notes totaling $554,000 for placement agency fees. At December 31, 2020, related party notes payable totaled $6,012,000 and accrued interest totaled $400,000. 
CY2020 us-gaap Debt Instrument Convertible If Converted Value In Excess Of Principal
DebtInstrumentConvertibleIfConvertedValueInExcessOfPrincipal
2732000 usd
CY2021Q4 us-gaap Repayments Of Debt
RepaymentsOfDebt
250000 usd
CY2021Q4 airi Liabilities Related To Sale Of Future Proceeds From Dispositio Subsidiaries
LiabilitiesRelatedToSaleOfFutureProceedsFromDispositioSubsidiaries
59000 usd
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P1Y
CY2022Q2 us-gaap Convertible Subordinated Debt
ConvertibleSubordinatedDebt
4812000 usd
CY2022Q2 us-gaap Subordinated Debt
SubordinatedDebt
1600000 usd
CY2022Q2 airi Convertible Subordinated Notes
ConvertibleSubordinatedNotes
6412000 usd
CY2021Q2 us-gaap Interest Expense
InterestExpense
126000 usd
CY2022Q2 us-gaap Interest Expense
InterestExpense
125000 usd
us-gaap Interest Expense
InterestExpense
251000 usd
us-gaap Interest Expense
InterestExpense
250000 usd
CY2022Q3 us-gaap Repayments Of Debt
RepaymentsOfDebt
250000 usd
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P1Y
CY2022Q2 airi Aggregate Of Stock Options
AggregateOfStockOptions
530000 shares
us-gaap Sale Of Stock Description Of Transaction
SaleOfStockDescriptionOfTransaction
In connection with the sale of the Company’s wholly-owned subsidiary, AMK Welding, Inc. (“AMK”) to Meyer Tool, Inc., (“Meyer”) in 2017, Meyer was obligated to pay the Company within 30 days after the end of each calendar quarter, commencing April 1, 2017, an amount equal to five (5%) percent of the net sales of AMK for that quarter until the aggregate payments made to the Company (the “Meyer Agreement”) equals $1,500,000 (the “Maximum Amount”). 
CY2019Q1 airi Purchase Agreement Description
PurchaseAgreementDescription
In order to increase liquidity, on January 15, 2019, the Company entered into a “Purchase Agreement” with 15 accredited investors (the “Purchasers”), including Michael and Robert Taglich, pursuant to which the Company assigned to the Purchasers all of its rights, title and interest to the remaining $1,137,000 of the $1,500,000 in payments due from Meyer for the sale of AMK (the “Remaining Amount”) for an immediate payment of $800,000, including $100,000 from each of Michael and Robert Taglich, and $75,000 for the benefit of the children of Michael Taglich. The timing of the payments is based upon the net sales of AMK. If the Purchasers have not received the entire Remaining Amount by March 31, 2023, they have the right to demand payment of their pro rata portion of the unpaid Remaining Amount from the Company (“Put Right”). To the extent the Purchasers exercise their Put Right, the remaining payments from Meyer will be retained by the Company. 
CY2022Q2 us-gaap Other Noncash Income
OtherNoncashIncome
5000 usd
CY2021Q2 us-gaap Other Noncash Income
OtherNoncashIncome
91000 usd
us-gaap Other Noncash Income
OtherNoncashIncome
94000 usd
us-gaap Other Noncash Income
OtherNoncashIncome
195000 usd
CY2022Q2 us-gaap Other Noncash Expense
OtherNoncashExpense
0 usd
CY2021Q2 us-gaap Other Noncash Expense
OtherNoncashExpense
27000 usd
us-gaap Other Noncash Expense
OtherNoncashExpense
38000 usd
us-gaap Other Noncash Expense
OtherNoncashExpense
58000 usd
CY2021Q4 airi Liabilities Related To Sale Of Future Proceeds From Dispositio Subsidiaries
LiabilitiesRelatedToSaleOfFutureProceedsFromDispositioSubsidiaries
59000 usd
CY2020Q4 airi Liabilities Related To Sale Of Future Proceeds From Dispositio Subsidiaries
LiabilitiesRelatedToSaleOfFutureProceedsFromDispositioSubsidiaries
322000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
94000 usd
CY2021 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
360000 usd
airi Non Cash Interest Expense Recognized1
NonCashInterestExpenseRecognized1
35000 usd
CY2021 airi Non Cash Interest Expense Recognized1
NonCashInterestExpenseRecognized1
97000 usd
CY2021Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
3000 usd
CY2021 airi Liability Related To Sale Of Future Proceeds From Disposition Of Subsidiary Net
LiabilityRelatedToSaleOfFutureProceedsFromDispositionOfSubsidiaryNet
56000 usd
CY2022Q2 us-gaap Due To Other Related Parties Current And Noncurrent
DueToOtherRelatedPartiesCurrentAndNoncurrent
1137000 usd
airi Shares Issued Of Common Stock For Cashless Exercise Of Stock Options
SharesIssuedOfCommonStockForCashlessExerciseOfStockOptions
51224 shares
CY2022Q1 airi Aggregate Of Stock Options
AggregateOfStockOptions
30000 shares
CY2022Q1 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
0.85
CY2022Q2 airi Aggregate Of Stock Options
AggregateOfStockOptions
60000 shares
CY2022Q2 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
0.84
CY2021Q1 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
1.32
CY2021Q1 airi Aggregate Of Stock Options
AggregateOfStockOptions
327500 shares
CY2021Q1 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
1.39
CY2021Q3 airi Aggregate Of Stock Options
AggregateOfStockOptions
415000 shares
CY2021Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
1.22
us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 8. CONTINGENCIES</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">A number of actions have been commenced against the Company by vendors, landlords and former landlords, including a third party claim as a result of an injury suffered on a portion of a leased property not occupied by the Company. As certain of these claims represent amounts included in accounts payable they are not specifically discussed herein.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">On October 2, 2018, Contract Pharmacal Corp. (“Contract Pharmacal”) commenced an action, relating to a Sublease entered into between the Company and Contract Pharmacal in May 2018 with respect to the property that was formerly occupied by its subsidiary WMI, at 110 Plant Avenue, Hauppauge, New York. In the action Contract Pharmacal sought damages for an amount in excess of $1,000,000 for the Company’s failure to make the entire premises available by the Sublease commencement date. On July 8, 2021, the Court denied Contract Phamacal’s motion for summary judgement. In the Order, the court granted Contract Pharmacal’s Motions to drop its claim for specific performance and to amend its Complaint to reduce its claim for damages to $700,000. Contract Pharmacal filed a Motion to reargue which the Court denied on November 30, 2021. On March 10, 2022, Contract Pharmacal filed an appeal to the Court’s decision with the Appellate Division which the Company will oppose. The Company disputes the validity of the claims asserted by Contract Pharmacal and intends to dispute the validity of the claim asserted by Contract Pharmacal.</p>
CY2018Q4 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
1000000 usd
CY2021Q3 airi Damages Claim
DamagesClaim
700000 usd
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2021Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
usd
airi Noncash Interest Expense
NoncashInterestExpense
usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
usd
us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
usd
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
usd
airi Capitalization Of Related Party Note Interest To Principal
CapitalizationOfRelatedPartyNoteInterestToPrincipal
usd
CY2022Q2 airi Convertible Note Interest
ConvertibleNoteInterest
usd
airi Convertible Note Interest
ConvertibleNoteInterest
usd
CY2022Q2 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
usd
us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
usd
CY2022Q2 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
usd
CY2022Q2 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
usd
CY2022Q2 airi Finance Leases Obligations
FinanceLeasesObligations
usd
CY2022Q2 airi Liabilities Related To Sale Of Future Proceeds From Dispositio Subsidiaries
LiabilitiesRelatedToSaleOfFutureProceedsFromDispositioSubsidiaries
usd
CY2022Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
usd
airi Liability Related To Sale Of Future Proceeds From Disposition Of Subsidiary Net
LiabilityRelatedToSaleOfFutureProceedsFromDispositionOfSubsidiaryNet
usd
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P3Y
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P3Y
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P3Y
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001009891

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