Note 18 - Subsequent Events

12 Months Ended

Sep. 30, 2017

Notes to Financial Statements

Subsequent Events [Text Block]

1

8.

SUBSEQUENT EVENTS

In preparing these financial statements, subsequent events were evaluated through the time the financial statements were issued. Financial statements are considered issued when they are widely distributed to all shareholders and other financial statement users, or filed with the Securities and Exchange Commission. In accordance with applicable accounting standards, all material subsequent events have been either recognized in the financial statements or disclosed in the notes to the financial statements.

Hickok AE LLC (dba Air Enterprises), a wholly owned subsidiary of Hickok Incorporated, was named as a defendant in a lawsuit filed on

November 6, 2017 

in Superior Court in Quebec, Canada by Carmichael Engineering Ltd. of Quebec (“

Carmichael”). Carmichael’s lawsuit seeks payment of invoices for materials and services it allegedly provided to Air Enterprises prior to the Company’

s acquisition and relating to a

third

-pary cooling system.

The Company believes the claims have been improperly brought against Hickok. The Company denies the allegations and will vigorously defend the claims brought against it. The Company cannot predict the outcome of the above matters or estimate the possible loss or range of loss, if any. Management believes that the allegations are without merit and that the ultimate resolution of these matters will

not

have a material adverse effect on the consolidated financial condition, results of operations or cash flow of the Company

.