| Segment Reporting Disclosure [Text Block] |
Note 8 – Segment Information In accordance with FASB ASC 280, “Disclosures about Segments of an Enterprise and related information”, the Company determined it has two reportable segments - avionics government and avionics commercial. There are no inter-segment revenues. The Company is organized primarily on the basis of its avionics products. The avionics government segment consists primarily of the design, manufacture, and sale of test equipment to the U.S. and foreign governments and militaries either directly or through distributors. The avionics commercial segment consists of design, manufacture, and sale of test equipment to domestic and foreign airlines, directly or through commercial distributors, and to general aviation repair and maintenance shops. The Company develops and designs test equipment for the avionics industry and as such, the Company’s products and designs cross segments. Management evaluates the performance of its segments and allocates resources to them based on gross margin. The Company’s general and administrative costs and sales and marketing expenses, and engineering costs are not segment specific. As a result, all operating expenses are not managed on a segment basis. Net interest includes expenses on debt and income earned on cash balances, both maintained at the corporate level. The tables below present information about reportable segments within the avionics business for the three and six months ending September 30, 2022, and 2021:
|
Three Months Ended
September 30, 2022
|
|
Avionics
Government
|
|
|
Avionics
Commercial
|
|
|
Avionics
Total
|
|
|
Corporate
Items
|
|
|
Total
|
|
|
Net sales
|
|
$ |
1,364,876 |
|
|
$ |
647,882 |
|
|
$ |
2,012,758 |
|
|
$ |
- |
|
|
$ |
2,012,758 |
|
|
Cost of sales
|
|
|
966,980 |
|
|
|
492,306 |
|
|
|
1,459,286 |
|
|
|
- |
|
|
|
1,459,286 |
|
|
Gross margin
|
|
|
397,896 |
|
|
|
155,576 |
|
|
|
553,472 |
|
|
|
- |
|
|
|
553,472 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Engineering, research, and development
|
|
|
|
|
|
|
|
|
|
|
609,636 |
|
|
|
- |
|
|
|
609,636 |
|
|
Selling, general and administrative
|
|
|
|
|
|
|
|
|
|
|
166,153 |
|
|
|
312,605 |
|
|
|
478,758 |
|
|
Litigation costs
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
495 |
|
|
|
495 |
|
|
Interest income
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
(2,137 |
)
|
|
|
(2,137 |
)
|
|
Other income
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
Interest expense – judgment
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
71,016 |
|
|
|
71,016 |
|
|
Total expenses (income)
|
|
|
|
|
|
|
|
|
|
|
775,789 |
|
|
|
381,979 |
|
|
|
1,157,768 |
|
|
Loss before income taxes
|
|
|
|
|
|
|
|
|
|
$ |
(222,317 |
)
|
|
$ |
(381,979 |
)
|
|
$ |
(604,296 |
)
|
|
Three Months Ended
September 30, 2021
|
|
Avionics
Government
|
|
|
Avionics
Commercial
|
|
|
Avionics
Total
|
|
|
Corporate
Items
|
|
|
Total
|
|
|
Net sales
|
|
$ |
2,909,663 |
|
|
$ |
701,200 |
|
|
$ |
3,610,863 |
|
|
$ |
- |
|
|
$ |
3,610,863 |
|
|
Cost of sales
|
|
|
1,498,235 |
|
|
|
444,721 |
|
|
|
1,942,956 |
|
|
|
- |
|
|
|
1,942,956 |
|
|
Gross margin
|
|
|
1,411,428 |
|
|
|
256,479 |
|
|
|
1,667,907 |
|
|
|
- |
|
|
|
1,667,907 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Engineering, research, and development
|
|
|
|
|
|
|
|
|
|
|
682,852 |
|
|
|
- |
|
|
|
682,852 |
|
|
Selling, general and administrative
|
|
|
|
|
|
|
|
|
|
|
224,148 |
|
|
|
372,470 |
|
|
|
596,618 |
|
|
Litigation costs
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
3,220 |
|
|
|
3,220 |
|
|
Interest income
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
(995 |
)
|
|
|
(995 |
)
|
|
Other income
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
(22,260 |
)
|
|
|
(22,260 |
)
|
|
Interest expense - judgment
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
52,490 |
|
|
|
52,490 |
|
|
Forgiveness of PPP Loan
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
(722,577 |
)
|
|
|
(722,577 |
)
|
|
Total expenses (income)
|
|
|
|
|
|
|
|
|
|
|
907,000 |
|
|
|
(317,652 |
)
|
|
|
589,348 |
|
|
Income before income taxes
|
|
|
|
|
|
|
|
|
|
$ |
760,907 |
|
|
$ |
317,652 |
|
|
$ |
1,078,559 |
|
|
Six Months Ended
September 30, 2022
|
|
Avionics
Government
|
|
|
Avionics
Commercial
|
|
|
Avionics
Total
|
|
|
Corporate
Items
|
|
|
Total
|
|
|
Net sales
|
|
$ |
2,969,026 |
|
|
$ |
1,297,489 |
|
|
$ |
4,266,515 |
|
|
$ |
- |
|
|
$ |
4,266,515 |
|
|
Cost of sales
|
|
|
1,929,216 |
|
|
|
948,642 |
|
|
|
2,877,858 |
|
|
|
- |
|
|
|
2,877,858 |
|
|
Gross margin
|
|
|
1,039,810 |
|
|
|
348,847 |
|
|
|
1,388,657 |
|
|
|
- |
|
|
|
1,388,657 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Engineering, research, and development
|
|
|
|
|
|
|
|
|
|
|
1,131,739 |
|
|
|
- |
|
|
|
1,131,739 |
|
|
Selling, general and administrative
|
|
|
|
|
|
|
|
|
|
|
339,003 |
|
|
|
695,964 |
|
|
|
1,034,967 |
|
|
Litigation costs
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
1,219 |
|
|
|
1,219 |
|
|
Interest income
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
(3,123 |
)
|
|
|
(3,123 |
)
|
|
Other income
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
Interest expense – judgment
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
122,936 |
|
|
|
122,936 |
|
|
Total expenses
|
|
|
|
|
|
|
|
|
|
|
1,470,742 |
|
|
|
816,996 |
|
|
|
2,287,738 |
|
|
Loss before income taxes
|
|
|
|
|
|
|
|
|
|
$ |
(82,085 |
)
|
|
$ |
(816,996 |
)
|
|
$ |
(899,081 |
)
|
|
Six Months Ended
September 30, 2021
|
|
Avionics
Government
|
|
|
Avionics
Commercial
|
|
|
Avionics
Total
|
|
|
Corporate
Items
|
|
|
Total
|
|
|
Net sales
|
|
$ |
6,479,266 |
|
|
$ |
1,263,990 |
|
|
$ |
7,743,256 |
|
|
$ |
- |
|
|
$ |
7,743,256 |
|
|
Cost of sales
|
|
|
3,261,135 |
|
|
|
799,467 |
|
|
|
4,060,602 |
|
|
|
- |
|
|
|
4,060,602 |
|
|
Gross margin
|
|
|
3,218,131 |
|
|
|
464,523 |
|
|
|
3,682,654 |
|
|
|
- |
|
|
|
3,682,654 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Engineering, research, and development
|
|
|
|
|
|
|
|
|
|
|
1,376,427 |
|
|
|
- |
|
|
|
1,376,427 |
|
|
Selling, general and administrative
|
|
|
|
|
|
|
|
|
|
|
401,943 |
|
|
|
748,708 |
|
|
|
1,150,651 |
|
|
Litigation costs
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
4,400 |
|
|
|
4,400 |
|
|
Interest income
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
(1,980 |
)
|
|
|
(1,980 |
)
|
|
Other income
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
(35,853 |
)
|
|
|
(35,853 |
)
|
|
Interest expense – judgment
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
104,410 |
|
|
|
104,410 |
|
|
Interest expense
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
(722,577 |
)
|
|
|
(722,577 |
)
|
|
Total expenses
|
|
|
|
|
|
|
|
|
|
|
1,778,370 |
|
|
|
97,108 |
|
|
|
1,875,478 |
|
|
Income (loss) before income taxes
|
|
|
|
|
|
|
|
|
|
$ |
1,904,284 |
|
|
$ |
(97,108 |
)
|
|
$ |
1,807,176 |
|
|