0001185185-20-001214.txt : 20200819 0001185185-20-001214.hdr.sgml : 20200819 20200819090102 ACCESSION NUMBER: 0001185185-20-001214 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 60 CONFORMED PERIOD OF REPORT: 20200630 FILED AS OF DATE: 20200819 DATE AS OF CHANGE: 20200819 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TEL INSTRUMENT ELECTRONICS CORP CENTRAL INDEX KEY: 0000096885 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPONENTS & ACCESSORIES [3670] IRS NUMBER: 221441806 STATE OF INCORPORATION: NJ FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-31990 FILM NUMBER: 201115423 BUSINESS ADDRESS: STREET 1: ONE BRANCA ROAD CITY: EAST RUTHERFORD STATE: NJ ZIP: 07073 BUSINESS PHONE: 2019331600 MAIL ADDRESS: STREET 1: ONE BRANCA ROAD CITY: EAST RUTHERFORD STATE: NJ ZIP: 07073 10-Q 1 telinstru20200630_10q.htm FORM 10-Q telinstru20200630_10q.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION     

WASHINGTON, D.C. 20549

 


 

FORM 10-Q

 


 

 QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended: June 30, 2020

 

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

Commission File Number: 001-31990

 

TEL-INSTRUMENT ELECTRONICS CORP.

(Exact name of registrant as specified in its charter)

 

New Jersey

22-1441806

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer

Identification No.)

 

One Branca Road

East Rutherford, NJ 07073

(Address of principal executive offices)

 

(201) 933-1600

(Registrant’s telephone number, including area code)

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading Symbol(s)

 

Name of each exchange on which registered

N/A

 

N/A

 

N/A

                    

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12 months, and (2) has been subject to such filing requirements for the past 90 days.  Yes ☒   No ☐

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).  Yes ☒   No ☐

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company.  See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer

Accelerated filer

Non-accelerated filer

☒ 

Smaller reporting company

 

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐ 

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes ☐   No ☒

 

As of August 11, 2020, there were 3,255,887 shares outstanding of the registrant’s common stock. 

 

 

 

 

TEL-INSTRUMENT ELECTRONICS CORP.

 

TABLE OF CONTENTS

 

PART I – FINANCIAL INFORMATION

 

 

Page

Item 1.

Unaudited Condensed Consolidated Financial Statements.

3

 

 

 

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations.

17

 

 

 

Item 3.

Quantitative and Qualitative Disclosures About Market Risk.

22

 

 

 

Item 4.

Controls and Procedures.

22

 

 

 

PART II – OTHER INFORMATION

 

 

 

Item 1.

Legal Proceedings.

23

 

 

 

Item 1A.

Risk Factors.

23

 

 

 

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds.

23

 

 

 

Item 3.

Defaults Upon Senior Securities.

23

 

 

 

Item 4.

Mine Safety Disclosures.

23

 

 

 

Item 5.

Other Information.

23

 

 

 

Item 6.

Exhibits.

24

 

 

 

Signatures

25

 

 

 

 

 

PART I – FINANCIAL INFORMATION

 

Item 1.  Unaudited Condensed Consolidated Financial Statements.

 

TEL-INSTRUMENT ELECTRONICS CORP.

CONDENSED CONSOLIDATED BALANCE SHEETS

 

   

June 30,

2020

   

March 31,

2020

 
   

(unaudited)

         

ASSETS

               
                 

Current assets:

               

Cash

  $ 3,185,796     $ 3,126,195  

Accounts receivable, net

    1,809,297       1,411,644  

Inventories, net

    3,483,883       3,092,679  

Restricted cash to support appeal bond

    2,009,543       2,008,544  

Prepaid expenses and other current assets

    288,555       382,428  

Total current assets

    10,777,074       10,021,490  
                 

Equipment and leasehold improvements, net

    249,596       263,750  

Operating lease right-of-use assets

    254,290       306,740  

Deferred tax asset, net

    2,650,890       2,712,780  

Other long-term assets

    35,109       35,109  

Total assets

  $ 13,966,959     $ 13,339,869  
                 

LIABILITIES & STOCKHOLDERS’ EQUITY

               
                 

Current liabilities:

               

Line of credit

  $ 680,000     $ 680,000  

SBA PPP loan – current portion

    321,145       -  

Operating lease liabilities – current portion

    217,643       214,793  

Accounts payable and accrued liabilities

    944,151       1,035,023  

Deferred revenues – current portion

    90,257       145,168  

Accrued legal damages

    5,732,693       5,657,549  

Finance lease obligations – current portion

    -       49  

Accrued payroll, vacation pay and payroll taxes

    440,043       512,732  

Total current liabilities

    8,425,932       8,245,314  
                 

Operating lease liabilities – long-term

    36,647       91,947  

Deferred revenues – long-term

    311,216       327,132  

SBA PPP loan – long term

    401,432       -  
                 

Total liabilities

    9,175,227       8,664,393  
                 

Commitments and contingencies

               
                 

Stockholders’ equity:

               

Preferred stock, 1,000,000 shares authorized, par value $0.10 per share

               

Preferred stock, 500,000 shares 8% Cumulative Series A Convertible Preferred

issued and outstanding, par value $0.10 per share

    3,575,998       3,515,998  

Preferred stock, 166,667 shares 8% Cumulative Series B Convertible Preferred

issued and outstanding, par value $0.10 per share

    1,107,367       1,087,367  

Common stock, 7,000,000 shares authorized, par value $0.10 per share,

3,255,887 shares issued and outstanding, respectively

    325,586       325,586  

Additional paid-in capital

    7,541,900       7,616,624  

Accumulated deficit

    (7,759,119

)

    (7,870,099

)

Total stockholders’ equity

    4,791,732       4,675,476  

Total liabilities and stockholders’ equity

  $ 13,966,959     $ 13,339,869  

 

See accompanying notes to unaudited condensed consolidated financial statements.

 

 

TEL-INSTRUMENT ELECTRONICS CORP.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

 

   

Three Months Ended

 
   

June 30, 2020

   

June 30, 2019

 
                 

Net sales

  $ 2,939,437     $ 3,306,462  

Cost of sales

    1,434,826       1,724,858  
                 

Gross margin

    1,504,611       1,581,604  
                 

Operating expenses:

               

Selling, general and administrative

    661,251       612,471  

Litigation costs

    2,696       10,507  

Engineering, research and development

    631,953       525,103  

Total operating expenses

    1,295,900       1,148,081  
                 

Income from operations

    208,711       433,523  
                 

Other income (expense):

               

Change in fair value of common stock warrants

    -       (78,500

)

Other income

    13,854       -  

Interest income

    2,846       1,000  

Interest expense – judgment

    (75,144

)

    (80,510

)

Interest expense

    (9,780

)

    (17,737

)

Total other expense

    (68,224

)

    (175,747

)

                 

Income before income taxes

    140,487       257,776  
                 

Income tax expense

    29,507       -  
                 

Net income

    110,980       257,776  
                 

Preferred stock dividends

    (80,000 )     (80,000

)

                 

Net income attributable to common shareholders

  $ 30,980     $ 177,776  
                 

Net income per share:

               

Basic income per common share

  $ 0.01     $ 0.05  

Diluted income per common share

  $ 0.01     $ 0.04  
                 

Weighted average shares outstanding:

               

Basic

    3,255,887       3,255,887  

Diluted

    3,255,887       4,915,665  

 

See accompanying notes to unaudited condensed consolidated financial statements.

 

 

TEL-INSTRUMENT ELECTRONICS CORP.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIT)

For the Three Months Ended June 30, 2020 and 2019

(Unaudited)

 

   

 

Series A Convertible

    Preferred Stock

   

 

Series B Convertible

 Preferred Stock

   

 

 

Common Stock

                         
   

# of Shares

Issued

   

 Amount

   

# of Shares

Issued

   

Amount

   

# of Shares

Issued

   

 

 Amount

   

Additional Paid-In

Capital

   

Accumulated

Deficit

   

Total

 

Balances at April 1, 2020

    500,000     $ 3,515,998       166,667     $ 1,087,367       3,255,887     $ 325,586     $ 7,616,624     $ (7,870,099

)

  $ 4,675,476  

8% Dividends on Preferred Stock

    -       60,000       -       20,000       -       -       (80,000

)

    -       -  

Stock-based compensation

    -       -       -       -       -       -       5,276       -       5,276  

Net income

    -       -       -       -       -       -       -       110,980       110,980  

Balances at June 30, 2020

    500,000     $ 3,575,998       166,667     $ 1,107,367       3,255,887     $ 325,586     $ 7,541,900     $ (7,759,119

)

  $ 4,791,732  

 

 

   

Series A Convertible

    Preferred Stock

   

Series B Convertible

 Preferred Stock

   

 

Common Stock

                         
   

# of Shares

Issued

   

 Amount

   

# of Shares

Issued

   

Amount

   

# of Shares

Issued

   

 

 Amount

   

Additional Paid-In

Capital

   

Accumulated

Deficit

   

Total

 

Balances at April 1, 2019

    500,000     $ 3,275,998       166,667     $ 1,007,367       3,255,887     $ 325,586     $ 7,914,955     $ (12,606,589

)

  $ (82,683

)

8% Dividends on Preferred Stock

    -       60,000       -       20,000       -       -       (80,000

)

    -       -  

Stock-based compensation

    -       -       -       -       -       -       5,841       -       5,841  

Net income

    -       -       -       -       -       -       -       257,776       257,776  

Balances at June 30, 2019

    500,000     $ 3,335,998       166,667     $ 1,027,367       3,255,887     $ 325,586     $ 7,840,796     $ (12,348,813

)

  $ 180,934  

 

See accompanying notes to unaudited condensed consolidated financial statements.

 

 

TEL-INSTRUMENT ELECTRONICS CORP.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

 

   

Three Months Ended

 
   

June 30, 2020 

   

June 30, 2019

 
                 

Cash flows from operating activities:

               

Net income

  $ 110,980     $ 257,776  

Adjustments to reconcile net income to net cash provided by

   (used in) operating activities:

               

Deferred income taxes

    61,890       -  

Depreciation and amortization

    29,540       19,075  

Amortization of right of use assets

    52,450       -  

Provision for inventory obsolescence

    10,000       10,000  

Change in fair value of common stock warrant

    -       78,500  

Non-cash stock-based compensation

    5,276       5,841  
                 

Changes in assets and liabilities:

               

          (Increase) decrease in accounts receivable

    (397,653

)

    620,127  

Increase in inventories

    (401,204

)

    (175,342

)

           Decrease in prepaid expenses & other assets

    93,873       1,286  

Decrease in accounts payable and accrued liabilities

    (90,872

)

    (572,448

)

(Decrease) increase in accrued payroll, vacation pay and payroll taxes

    (72,689

)

    26,957  

(Decrease) increase in deferred revenues

    (70,827

)

    115,489  

  (Decrease) increase  in operating lease liabilities

    (52,450

)

    -  

Increase in accrued legal damages

    75,144       83,450  

Net cash (used in) provided by operating activities

    (646,542

)

    470,711  
                 

Cash flows from investing activities:

               

Purchases of equipment

    (15,386

)

    (23,507

)

Net cash used in investing activities

    (15,386

)

    (23,507

)

                 

Cash flows from financing activities:

               

Proceeds from SBA PPP loan

    722,577       -  

Repayment of line of credit

    -       (50,000

)

Repayment of finance lease obligations

    (49

)

    (602

)

Net cash provided by (used in) financing activities

    722,528       (50,602

)

                 

Net increase in cash and restricted cash

    60,600       396,602  

Cash and restricted cash at beginning of period

    5,134,739       2,590,727  

Cash and restricted cash at end of period

  $ 5,195,339     $ 2,987,329  
                 

End of period

               

Cash

  $ 3,185,796     $ 981,806  

Restricted cash

    2,009,543       2,005,523  
    $ 5,195,339     $ 2,987,329  

Beginning of period

               

Cash

  $ 3,126,195     $ 585,856  

Restricted cash

    2,008,544       2,004,871  
    $ 5,134,739     $ 2,590,727  
                 

Supplemental cash flow information:

               

Taxes paid

  $ -     $ -  

Interest paid

  $ 4,962     $ 20,747  

 

Supplemental disclosure of non-cash financing activities:

 

Upon adoption of ASC 842, Leases, on April 1, 2019 the Company recorded $508,551 of right-use assets and related operating leases liabilities.

 

See accompanying notes to unaudited condensed consolidated financial statements.

 

 

TEL-INSTRUMENT ELECTRONICS CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

 

Note 1 – Business, Organization and Liquidity

 

Business and Organization

 

Tel-Instrument Electronics Corp. (“Tel”, “TIC” or the “Company”) has been in business since 1947.  The Company is a leading designer and manufacturer of avionics test and measurement instruments for the global, commercial air transport, general aviation, and government/military defense markets.  Tel provides instruments to test, measure, calibrate, and repair a wide range of airborne navigation and communication equipment.  The Company sells its equipment in both domestic and international markets. Tel continues to develop new products in anticipation of customers’ needs and to maintain its strong market position.  Its development of multi-function testers has made it easier for customers to perform ramp tests with less operator training, fewer test sets, and lower product support costs.  The Company has become a major manufacturer and supplier of Identification Friend or Foe (“IFF”) flight line test equipment over the last few years.

 

The Company is publicly traded and was quoted on the Over-the-Counter Market Place (“OTCQB”) under the symbol “TIKK”.

 

The Company’s operations have been affected by the recent and ongoing outbreak of the coronavirus disease 2019 (COVID-19) which in March 2020, was declared a pandemic by the World Health Organization. While the business is still strong, we have been impacted by the pandemic in our commercial business and delays in orders from some of our military customers. The pandemic has also impacted our supply chain and our labor force, but we have been working through these issues without having any significant delays. Our international business remains strong mainly due to our Mode 5 test sets, including our T-47/M5, which has received AIMS (Air Traffic Control Radar Beacon System, Identification Friend or Foe, Mark XII/Mark XIIA, Systems) approval, our CRAFT products, especially for Lockheed Martin for the Joint Strike Fighter (“JSF”) program, and the T-4530i and the TS-4530A. The ultimate disruption which may be caused by the outbreak is uncertain; however, it may result in a material adverse impact on the Company’s financial position, operations and cash flows. Possible areas that may be affected include, but are not limited to, disruption to the Company’s customers and revenue, labor workforce, inability of customers to pay outstanding accounts receivable due and owing to the Company as they limit or shut down their businesses,  customers seeking relief or  extended payment plans relating to accounts receivable due and owing to the Company, unavailability of products and supplies used in operations, and the decline in value of assets held by the Company, including property and equipment.

 

Moving forward, we believe that our expected cash flows from operations, as a result of the increase in business, and current cash balances, which amounted to $5.2 million, including the $2 million is restricted cash will be sufficient to operate in the normal course of business for next 12 months from the issuance date of these financial statements, including any payments for settlement of the litigation.

 

Note 2 – Summary of Significant Accounting Policies

 

Basis of Presentation

 

In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary to present fairly the financial position of Tel-Instrument Electronics Corp. as of June 30, 2020, the results of operations and changes in stockholders’ equity (deficit) for the three months ended June 30, 2020 and June 30, 2019, and statements of cash flows for the three months ended June 30, 2020 and June 30, 2019.  These results are not necessarily indicative of the results to be expected for the full year.  The unaudited condensed consolidated financial statements have been prepared in accordance with the requirements of Form 10-Q and consequently do not include disclosures normally made in an Annual Report on Form 10-K.  The March 31, 2020 balance sheet included herein was derived from the audited financial statements included in the Company’s Annual Report on Form 10-K as of that date.  Accordingly, the unaudited condensed consolidated financial statements included herein should be reviewed in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2020, as filed with the United States Securities and Exchange Commission (the “SEC”) on June 29, 2020 (the “Annual Report”).

 

Revenue Recognition

 

The Company accounts for revenue recognition in accordance with ASC 606.The core principle of Topic 606 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. The ASU defines a five-step process to achieve the core principal and, in doing so, it is possible more judgement and estimates may be required within the revenue recognition process than are currently in use. 

 

 

TEL-INSTRUMENT ELECTRONICS CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

 

Note 2 – Summary of Significant Accounting Policies (continued)

 

Revenue Recognition (continued)

 

The Company generates revenue from designing, manufacturing and selling avionic tests and measurement solutions for the global commercial air transport, general aviation, and government/military aerospace and defense markets. The Company also offers calibration and repair services for a wide range of airborne navigation and communication equipment. 

 

Under ASU 2014-09 Topic 606, Revenue from Contacts with Customers (“ASC 606”), the Company recognizes revenue when the customer obtains control of promised goods or services, in an amount that reflects the consideration which is expected to be received in exchange for those goods or services. The Company recognizes revenue following the five-step model prescribed under ASC 606: (i) identify contract(s) with a customer; (ii) identify the performance obligation(s) in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligation(s) in the contract; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied.

 

Nature of goods and services

 

The following is a description of the products and services from which the Company generates revenue, as well as the nature, timing of satisfaction of performance obligations, and significant payment terms for each.

 

Test Units/Sets

 

The Company develops and manufactures unit sets to test navigation and communication equipment, such as ramp testers and bench testers for equipment installed in aircraft. The Company recognizes revenue when the customer obtains control of the Company’s product based on the contractual shipping terms of the contract, which is usually at the time of shipment. Revenue on products are presented gross because the Company is primarily responsible for fulfilling the promise to provide the product, is responsible to ensure that the product is produced in accordance with the related supply agreement, and bears the risk of loss while the inventory is in-transit. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring products to the customer.

 

If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price based on the estimated relative standalone selling prices of the promised products or services underlying each performance obligation. The Company determines stand-alone selling prices based on the price at which the performance obligation is sold separately. If the stand-alone selling price is not observable through past transactions, the Company estimates the standalone selling price taking into account available information such as market conditions and internally approved pricing guidelines related to the performance obligations.

 

When determining the transaction price of a contract, an adjustment is made if payment from the customer occurs either significantly before or significantly after performance, resulting in a significant financing component. Applying the practical expedient in paragraph 606-10-32-18, the Company does not assess whether a significant financing component exists if the period between when the Company performs its obligations under the contract and when the customer pays is one year or less. None of the Company’s contracts contained a significant financing component as of June 30, 2020.

 

Replacement Parts

 

The Company offers replacement parts for test equipment, ramp testers, and bench testers. Similar to the sale of test units, the control of the product transfers at a point of time and therefore, revenue is recognized at the point in time when the obligation to the customer has been fulfilled.

 

 

TEL-INSTRUMENT ELECTRONICS CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

 

Note 2 – Summary of Significant Accounting Policies (continued)

 

Revenue Recognition (continued)

 

Extended Warranties

 

The extended warranties sold by the Company provide a level of assurance beyond the coverage for defects that existed at the time of a sale or against certain types of covered damage with coverage terms generally ranging from 5 to 7 years. Amounts received for warranties are recorded as deferred revenue and recognized as revenue ratably over the respective term of the agreements. As of June 30, 2020, approximately $391,414 is expected to be recognized from remaining performance obligations for extended warranties as compared to $413,554 at March 31, 2020.  For the three months ended June 30, 2020, the Company recognized revenue of $22,140 from amounts that were included in Deferred Revenue as compared to $19,491 for the three months ended June 30, 2019.

 

The following table provides a summary of the changes in deferred revenues for the three months ended June 30, 2020:

 

Deferred revenues at April 1, 2020

  $ 413,554  

Additional extended warranties

    -  

Revenue recognized for the three months ended June 30, 2020

    (22,140

)

Deferred revenues at June 30, 2020

  $ 391,414  

 

Other Deferred Revenues

 

The Company sometimes receives payments in advance of shipment. These amounts are classified as other deferred revenues. For the periods ended June 30, 2020 and March 31, 2020, the Company has other deferred revenues of $10,059 and $58,746, respectively.

 

Repair and Calibration Services

 

The Company offers repair and calibration services for units that are returned for annual calibrations and/or for repairs after the warranty period has expired. The Company repairs and calibrates a wide range of airborne navigation and communication equipment. Revenue is recognized at the time the repaired or calibrated unit is shipped back to the customer, as it is at this time that the work is completed.

 

Other

 

The majority of the Company’s revenues are from contracts with the U.S. government, airlines, aircraft manufacturers, such as Boeing and Lockheed Martin, domestic distributors, international distributors for sales to military and commercial customers, and other commercial customers. The contracts with the U.S. government typically are subject to the Federal Acquisition Regulation (“FAR”) which provides guidance on the types of costs that are allowable in establishing prices for goods and services provided under U.S. government contracts.

 

Payment terms and conditions vary by contract, although terms generally include a requirement of payment within a range from 30 to 60 days, or in certain cases, up-front deposits. In circumstances where the timing of revenue recognition differs from the timing of invoicing, the Company has determined that the Company's contracts generally do not include a significant financing component. Payments received prior to the delivery of units or services performed are recorded as deferred revenues. Taxes collected from customers, which are subsequently remitted to governmental authorities, are excluded from sales. The Company applied the practical expedient to account for shipping and handling activities as fulfillment cost rather than as a separate performance obligation. Shipping and handling costs charged to customers are classified as sales, and the shipping and handling costs incurred are included in cost of sales. 

 

 

TEL-INSTRUMENT ELECTRONICS CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

 

Note 2 – Summary of Significant Accounting Policies (continued)

 

Revenue Recognition (continued)

 

Other (continued)

 

All sales are denominated in U.S. dollars.

 

The Company excludes from revenues all taxes assessed by a governmental authority that are imposed on the sale of its products and collected from customers.

 

The Company chose to apply the available practical expedient as commission eligible sales orders are fulfilled within less than one year and commissions are generally paid by the Company within 30 days of the related sales order fulfillment. Accordingly, management has determined that no change in accounting for costs to obtain a contract will be required for the Company to conform to ASC 606.

 

Disaggregation of revenue

 

In the following tables, revenue is disaggregated by revenue category.

 

   

For the Three Months Ended

June 30, 2020

 
   

Commercial

   

Government

 

Sales Distribution

               

Test Units

  $ 58,573     $ 2,563,277  
    $ 58,573     $ 2,563,277  

 

The remainder of our revenues for the three months ended June 30, 2020 are derived from repairs and calibration of $277,898, replacement parts of $16,070, extended warranties of $22,140 and other revenues of $1,479. We do not disaggregate these revenue streams as they are not deemed an important element related to how management operates the business between segments.

 

   

For the Three Months Ended

June 30, 2019

 
   

Commercial

   

Government

 

Sales Distribution

               

Test Units

  $ 295,923     $ 2,504,140  
    $ 295,923     $ 2,504,140  

 

The remainder of our revenues for the three months ended June 30, 2019 are derived from repairs and calibration of $403,365, replacement parts of $81,634, extended warranties of $19,491 and other revenues of $1,909. We do not disaggregate these revenue streams as they are not deemed an important element related to how management operates the business between segments.

 

In the following table, revenue is disaggregated by geography.

 

   

For the Three Months

Ended

June 30, 2020

   

For the Three Months

Ended

June 30, 2019

 

Geography

               

United States

  $ 1,714,599     $ 2,912,737  

International

    1,224,838       393,725  

 Total

  $ 2,939,437     $ 3,306,462  

 

 

TEL-INSTRUMENT ELECTRONICS CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

 

Note 2 – Summary of Significant Accounting Policies (continued)

 

New Accounting Pronouncements

 

In June 2016, the FASB issued ASU No. 2016-13 Financial Instruments -Credit Losses (Topic 326), Measurement of Credit Losses on Financial Statements.  The amendment in this update replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses on instruments within its scope, including trade receivables. This update is intended to provide financial statement users with more decision-useful information about the expected credit losses. The effective date of the new standard has been deferred to April 1, 2023. We do not expect the adoption of this standard to have a significant impact on our financial position and results of operations.

 

In December 2019, the FASB issued ASU No. 2019-12, Income Taxes - simplifying the accounting for income taxes (Topic 740), which is meant to simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740, Income Taxes.  The amendment also improves consistent application and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance.  This ASU is effective April 1, 2021, and we do not expect the adoption of this standard to have a significant impact on our financial position and results of operations.

 

No other recently issued accounting pronouncements had or are expected to have a material impact on the Company’s unaudited condensed consolidated financial statements.

 

Note 3 – Accounts Receivable, net

 

The following table sets forth the components of accounts receivable:

 

   

June 30,

2020

   

March 31,

2020

 

Government

  $ 1,473,831     $ 1,095,131  

Commercial

    342,966       324,013  

Less: Allowance for doubtful accounts

    (7,500

)

    (7,500

)

    $ 1,809,297     $ 1,411,644  

 

Note 4 – Restricted Cash to Support Appeal Bond

 

In January 2018, the Company transferred $2,000,000 to a restricted cash account to secure a letter of credit which was used for collateral for the appeal bond (See Note 12).

 

Note 5 – Inventories, net

 

Inventories consist of:

 

   

June 30,

2020

   

March 31,

2020

 
                 

Purchased parts

  $ 2,700,907     $ 3,011,072  

Work-in-process

    1,281,839       597,166  

Finished goods

    61,137       34,441  

Less: Inventory reserve

    (560,000

)

    (550,000

)

    $ 3,483,883     $ 3,092,679  

 

 

TEL-INSTRUMENT ELECTRONICS CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

 

Note 6 – Net Income per Share

 

Net income per share has been computed according to Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC 260”), “Earnings per Share,” which requires a dual presentation of basic and diluted income per share (“EPS”). Basic EPS represents net income divided by the weighted average number of common shares outstanding during a reporting period. Diluted EPS reflects the potential dilution that could occur if securities, including preferred stock, warrants and options, were converted into common stock. The dilutive effect of outstanding warrants and options is reflected in earnings per share by use of the treasury stock method. The dilutive effect of preferred stock is reflected in earnings per share by use of the if-converted method. In applying the treasury stock method for stock-based compensation arrangements, the assumed proceeds are computed as the sum of the amount the employee must pay upon exercise and the amounts of average unrecognized compensation.

  

   

Three Months Ended

   

Three Months Ended

 
   

June 30, 2020

   

June 30, 2019

 

Basic net income per share computation:

               

  Net income

  $ 110,980     $ 257,776  

  Less: Preferred dividends

    (80,000

)

    (80,000

)

Net income attributable to common shareholders

    30,980       177,776  

  Weighted-average common shares outstanding

    3,255,887       3,255,887  

  Basic net income per share

  $ 0.01     $ 0.05  

Diluted net income per share computation

               

  Net income attributable to common shareholders

  $ 30,980     $ 177,776  

   Add: Preferred dividends

    -       80,000  

  Diluted income attributable to common shareholders

  $ 30,980     $ 257,776  

  Weighted-average common shares outstanding

    3,255,887       3,255,887  

  Incremental shares attributable to the assumed conversion of 

     preferred stock, and exercise of outstanding stock options and

     warrants

    -       1,659,778  

  Total adjusted weighted-average shares

    3,255,887       4,915,665  

 Diluted net income per share

  $ 0.01     $ 0.04  

 

The following table summarizes securities that, if exercised, would have an anti-dilutive effect on earnings per share for the three months ended:

 

   

June 30, 2020

   

June 30, 2019

 

Convertible preferred stock

    1,779,778       -  

Stock options

    83,500       118,500  

Warrants

    -       50,000  
      1,863,278       168,500  

 

Note 7 – Line of Credit

 

In March 2020, Bank of America extended the line of credit to January 31, 2021. The new agreement includes a line of credit up to $690,000. Monthly payments are interest only. The line is collateralized by substantially all of the assets of the Company. 

 

As of June 30, 2020 and March 31, 2020, the outstanding balances were $680,000 and $680,000, respectively.  As of June 30, 2020 the remaining availability under this line is $10,000. The interest rate at June 30, 2020 was 3.94%.

 

 

TEL-INSTRUMENT ELECTRONICS CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

 

Note 8 – SBA PPP Loan

 

On March 27, 2020, President Trump signed the Coronavirus Aid, Relief and Economic Security (the “CARES Act”), which, among other things, outlines the provisions of the Paycheck Protection Program (the “PPP”). The Company determined that it met the criteria to be eligible to obtain a loan under the PPP because, among other reasons, in light of the COVID-19 outbreak and the uncertainty of economic conditions related thereto, the loan was considered necessary to support the Company’s ongoing operations and retain all its employees. In addition, President Trump signed into law the Paycheck Protection Program and Health Care Enhancement Act on April 24, 2020, which increased funding provided by the CARES Act. On May 4, 2020 the Company issued a promissory note (the “Note”) to Bank of America in the principal aggregate amount of $722,577 (the “PPP Loan”) pursuant to the PPP under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). The funds were deposited into the Company’s bank account on May 4, 2020. On June 5, 2020 the Paycheck Protection Program Flexibility Act was signed into law and extended the program until December 31, 2020.

 

Under the terms of the CARES Act, PPP loan recipients can apply for and be granted forgiveness for all or a portion of loan granted under the program. Such forgiveness will be determined, subject to limitations, based on the use of loan proceeds for payment of payroll costs and any payments of mortgage interest, rent, and utilities. While we are believe that we met the conditions to obtain forgiveness for a large portion of the PPP loan, no assurance is provided that the Company will in fact obtain forgiveness of the PPP Loan in whole or in part. The PPP Loan has a two-year term and bears interest at a rate of 1% per annum. Monthly principal and interest payments are deferred for six months after the date of disbursement. The PPP Loan may be prepaid at any time prior to maturity with no prepayment penalties. Based on the June 5, 2020 Paycheck Protection Program Flexibility Act, certain changes will need to be made to the original Note, based on the new law.

 

Note 9 – 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 months ending June 30, 2020 and 2019:

 

Three Months Ended

June 30, 2020

 

Avionics

Government

   

Avionics

Commercial

   

Avionics

Total

   

Corporate

Items

   

Total

 

Net sales

  $ 2,563,276     $ 376,161     $ 2,939,437     $ -     $ 2,939,437  

Cost of sales

    1,182,282       252,544       1,434,826       -       1,434,826  

Gross margin

    1,380,994       123,617       1,504,611       -       1,504,611  
                                         

Engineering, research, and development

                    631,953       -       631,953  

Selling, general and administrative

                    253,838       407,413       661,251  

Litigation costs

                    -       2,696       2,696  

Interest income

                    -       (2,846

)

    (2,846

)

Other income

                    -       (13,854

)

    (13,854

)

Interest expense - judgment

                    -       75,144       75,144  

Interest expense

                    -       9,780       9,780  

Total expenses

                    885,791       478,333       1,364,124  

Income (loss) before income taxes

                  $ 618,820     $ (478,333

)

  $ 140,487  

  

 

TEL-INSTRUMENT ELECTRONICS CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

 

Note 9 – Segment Information (continued)

 

Three Months Ended

June 30, 2019

 

Avionics

Government

   

Avionics

Commercial

   

Avionics

Total

   

Corporate

Items

   

Total

 

Net sales

  $ 2,504,140     $ 802,322     $ 3,306,462     $ -     $ 3,306,462  

Cost of sales

    1,242,567       482,291       1,724,858       -       1,724,858  

Gross margin

    1,261,573       320,031       1,581,604       -       1,581,604  
                                         

Engineering, research, and development

                    525,103       -       525,103  

Selling, general and administrative

                    234,578       377,893       612,471  

Litigation costs

                    -       10,507       10,507  

Change in fair value of common stock warrants

                    -       78,500       78,500  

Interest income

                    -       (1,000

)

    (1,000

)

Interest expense - judgment

                    -       80,510       80,510  

Interest expense

                    -       17,737       17,737  

Total expenses

                    759,681       564,147       1,323,828  

Income (loss) before income taxes

                  $ 821,923     $ (564,147

)

  $ 257,776  

 

Note 10 – Income Taxes

 

FASB ASC 740-10, “Accounting for Uncertainty in Income Taxes” (“ASC 740-10”) prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return.  The Company has analyzed filing positions in all of the federal and state jurisdictions where it is required to file income tax returns, as well as all open tax years in these jurisdictions.  The Company does not have any unrecognized tax benefits.

 

The tax effect of temporary differences, primarily net operating loss carryforwards, asset reserves and accrued liabilities, gave rise to the Company’s deferred tax asset.  Deferred income taxes are recognized for the tax consequence of such temporary differences at the enacted tax rate expected to be in effect when the differences reverse. The Company had approximately $2.7 million in deferred tax assets at June 30, 2020. Future profitability in this competitive industry depends on continually obtaining and fulfilling new profitable sales agreements and modifying products.  The inability to obtain new profitable contracts or the failure of the Company’s engineering development efforts could reduce estimates of future profitability, which could affect the Company’s ability to realize the deferred tax assets.

 

The recognized deferred tax asset is based upon the expected utilization of its benefit from future taxable income. The Company has federal net operating loss (“NOL”) carryforwards of approximately $4 million. These carryforward losses are available to offset future taxable income, and begin to expire in the year 2027.

 

Note 11 – Operating Lease Liability

 

The Company leases its facility in East Rutherford, NJ with monthly payments of $18,467 which expires in August 2021 and includes a renewal option for an additional five years. The Company also has an operating lease for office equipment with monthly payments of $523 which expires in May 2021.

 

The Company's leases generally do not provide an implicit rate, and therefore the Company uses its incremental borrowing rate as the discount rate when measuring operating lease liabilities. The incremental borrowing rate represents an estimate of the interest rate the Company would incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis over the term of a lease. The Company used incremental borrowing rates as of April 1, 2019 for operating leases that commenced prior to that date. The Company estimated its incremental borrowing rate based on its credit quality, line of credit agreement and by comparing interest rates available in the market for similar borrowings. The Company used a discount rate of 6.25% at June 30, 2020.

 

 

TEL-INSTRUMENT ELECTRONICS CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

 

Note 11 – Operating Lease Liability (continued)

 

The following table reconciles the undiscounted future minimum lease payments (displayed by year and in the aggregate) under non-cancelable operating leases with terms of more than one year to the total lease liabilities recognized on the unaudited condensed consolidated balance sheet as of June 30, 2020:

 

Remaining payments 2021

  $ 170,910  

2022

    93,381  

Total undiscounted future minimum lease payments

    264,291  

Less: Difference between undiscounted lease payments and discounted lease liabilities

    (10,001

)

Present value of net minimum lease payments

    254,290  

Less current portion

    (217,643

)

Operating lease liabilities – long-term

  $ 36,647  

 

Total rent expense for the three months ended June 30, 2020 was $90,921 as compared to $86,291 for the three months ended June 30, 2019.

 

Note 12 – Litigation

 

Contingencies are recorded in the unaudited condensed consolidated financial statements when it is probable that a liability will be incurred and the amount of the loss is reasonably estimable, or otherwise disclosed, in accordance with Accounting Standards Codification 450, Contingencies (ASC 450). Significant judgment is required in both the determination of probability and the determination as to whether a loss is reasonably estimable. In the event the Company determines that a loss is not probable, but is reasonably possible, and it becomes possible to develop what the Company believes to be a reasonable range of possible loss, then the Company will include disclosures related to such matter as appropriate and in compliance with ASC 450. To the extent there is a reasonable possibility that the losses could exceed the amounts already accrued, the Company will, when applicable, adjust the accrual in the period the determination is made, disclose an estimate of the additional loss or range of loss or if the amount of such adjustment cannot be reasonably estimated, disclose that an estimate cannot be made.

 

On March 24, 2009, Aeroflex Wichita, Inc. (“Aeroflex”) filed a petition against the Company and two of its employees in the District Court located in Sedgwick County, Kansas, Case No. 09 CV 1141 (the “Aeroflex Action”), alleging that the Company and its two employees misappropriated Aeroflex’s proprietary technology in connection with the Company winning a substantial contract from the U.S. Army, to develop new Mode-5 radar test sets and kits to upgrade the existing TS-4530 radar test sets to Mode 5 (the “Award”). Aeroflex’s petition, seeking injunctive relief and damages, alleges that in connection with the Award, the Company and its named employees misappropriated Aeroflex’s trade secrets; tortiously interfered with Aeroflex’s business relationship; conspired to harm Aeroflex and tortiously interfered with Aeroflex’s contract. The central basis of all the claims in the Aeroflex Action is that the Company misappropriated and used Aeroflex proprietary technology and confidential information in winning the Award.  In February 2009, subsequent to the Company winning the Award, Aeroflex filed a protest of the Award with the Government Accounting Office (“GAO”). In its protest, Aeroflex alleged, inter alia, that the Company used Aeroflex’s proprietary technology in order to win the Award, the same material allegations as were later alleged in the Aeroflex Action. On or about March 17, 2009, the U.S. Army Contracts Attorney and the U.S. Army Contracting Officer each filed a statement with the GAO, expressly rejecting Aeroflex’s allegations that the Company used or infringed on Aeroflex’s proprietary technology in winning the Award, and concluding that the Company had used only its own proprietary technology. On April 6, 2009, Aeroflex withdrew its protest.

 

In December 2009, the Kansas District Court dismissed the Aeroflex Action on jurisdiction grounds. Aeroflex appealed this decision. In May 2012, the Kansas Supreme Court reversed the decision and remanded the Aeroflex Action to the Kansas District Court for further proceedings. The case then entered an extended discovery period in the District Court.

 

On May 23, 2016, the Company filed a motion for summary judgment based on Aeroflex’s lack of jurisdictional standing to bring the case. The motion asserts that Aeroflex does not own the intellectual property at issue since it is a bare licensee of Northrop Grumman. Northrop Grumman has declined to join this suit as plaintiff. The motion asserted Aeroflex lacks standing to sue alone. Also, the motion raises the fact that Aeroflex allowed the license to expire, Aeroflex’s claims are either moot or Aeroflex lacks standing to sue for damages alleged to have accrued after the license ended in 2011. The motion for summary judgment was denied.

 

 

TEL-INSTRUMENT ELECTRONICS CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

 

Note 12 – Litigation (continued)

 

The Aeroflex trial on remand in the Kansas District Court began in March 2017. After a nine-week trial, the jury rendered its verdict. The jury found no misappropriation of Aeroflex trade secrets but found that the Company tortiously interfered with a prospective business opportunity and awarded damages of $1.3 million for lost profits. The jury also ruled that Tel tortiously interfered with Aeroflex’s non-disclosure agreements with two former Aeroflex employees and awarded damages of $1.5 million for lost profits, resulting in total damages against the Company of $2.8 million. The jury also found that the former Aeroflex employees breached their non-disclosure agreements with Aeroflex and awarded damages against these two individuals totaling $525,000. The jury also decided that punitive damages should be allowed against the Company.

 

Following the verdict, the Company filed a motion for judgment as a matter of law. In the motion, the Company renewed its motion for judgment on Aeroflex’s tortious interference with prospective business opportunity claim arguing that such claim is barred by the statute of limitations. Alternatively, the motion asserts there is insufficient evidence supporting the lost profit award on that claim.  Additionally, the motion for judgment addresses inconsistency between the awards against the former Aeroflex employees for breach of the non-disclosure agreements and the award against the Company for interfering with those agreements. Alternatively, the motion asserts there is insufficient evidence supporting the lost profit award on that claim.

 

During July 2017, the Court heard the Company’s motion for judgment as well as conducting a hearing as to the amount of a punitive damages award. Kansas statutes limit punitive damages to a maximum of $5 million.

 

Aeroflex submitted a motion to the Court requesting that the judge award punitive damages at the maximum $5 million amount. In October 2017, the Court denied the Company’s motions and awarded Aeroflex an additional $2.1 million of punitive damages, which brings the total Tel damages awarded in this case to approximately $4.9 million.

 

The Journal Entry of Judgment including judgment against the Company in the amount of $1.3 million for tortious interference with prospective business advantage, of $1.5 million for tortious interference with existing contracts, and $2.1 million in punitive damages was entered on November 22, 2017. Pursuant to K.S.A. 16-204(d) “any judgment rendered by a court of this state on or after July 1, 1986, shall bear interest on and after the day on which judgment is rendered at the rate provided by subsection (e). The Kansas Secretary of State publishes the rate amount. The amount published for July 1, 2017 through June 30, 2018 is 5.75% and 6.5% July 1, 2018 through June 30, 2019. The current rate beginning July 1, 2019 through June 30, 2020 is 7.0%. Interest on the $4,900,000 judgment started to accrue on November 22, 2017, the date the judgment was entered. As of June 30, 2020, the outstanding amount of the judgement and accrued interest is $5,732,693.

 

The Company filed post-trial motions to avoid damage duplication and inconsistency, and to secure judgment as a matter of law or a new trial. The trial court denied those motions. The Company appealed the verdict and the post-trial rulings to the Court of Appeals of the State of Kansas, Case No. 18-119,563. The Company posted a $2 million supersedeas bond. The Plaintiff filed a cross-appeal. The appeal and cross-appeal are fully briefed. The appellate court has not set a date to hear the appeal.

 

The Company is very optimistic about the prospects of its appeal for a judgment as a matter of law. The Company was hoping for a decision from the court this calendar year but this timing will likely be delayed due to the three-month COVID-19 related shutdown of the Kansas court system. As such, the appeal process is expected to take at least another year to complete.

 

The Company has the ability to settle this case at its sole discretion by withdrawing the appeal and paying the judgment plus interest amount.

 

Other than the matters outlined above, the Company is currently not involved in any litigation that we believe could have a material adverse effect on the Company’s financial condition or results of operations. There is no action, suit, proceeding, inquiry or investigation before any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge of executive officers of our Company, threatened against or affecting our Company, or our common stock in which an adverse decision could have a material effect.

 

 

Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations.

 

Forward Looking Statements

 

This Quarterly Report on Form 10-Q and other reports filed by the Company from time to time with the SEC (collectively the “Filings”) contain or may contain forward-looking statements and information that are based upon beliefs of, and information currently available to, the Company’s management as well as estimates and assumptions made by Company’s management.  Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof.  When used in the Filings, the words “may”, “will”, “anticipate”, “believe”, “estimate”, “expect”, “future”, “intend”, “plan”, or the negative of these terms and similar expressions as they relate to the Company or the Company’s management are intended to identify forward-looking statements.  Such statements reflect the current view of the Company with respect to future events and we caution you that these statements are not guarantees of future performance or events and are subject to risks, assumptions, and other factors.  Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned.

 

Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, levels of activity, performance, or achievements.  Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.

 

Our unaudited condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (“GAAP”).  These accounting principles require us to make certain estimates, judgments and assumptions.  We believe that the estimates, judgments and assumptions upon which we rely are reasonable based upon information available to us at the time that these estimates, judgments and assumptions are made.  These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities as of the date of the financial statements as well as the reported amounts of revenues and expenses during the periods presented.  Our unaudited condensed consolidated financial statements would be affected to the extent there are material differences between these estimates and actual results.  In many cases, the accounting treatment of a particular transaction is specifically dictated by GAAP and does not require management’s judgment in its application.  There are also areas in which management’s judgment in selecting any available alternative would not produce a materially different result.  The following discussion should be read in conjunction with our financial statements and notes thereto appearing elsewhere in this report.

 

Overview

 

The Company reported net income of $110,980 for the three months ended June 30, 2020 and net sales of $2,939,437 as compared to net income of $257,776 and net sales of $3,306,462 for the same three month period in the prior fiscal year. While we believe the business is still strong, we have been impacted by the pandemic in our commercial business and delays in orders from some of our military customers. The pandemic has also impacted our supply chain and our labor force, but we have been working through these issues without having any significant delays. Our international business remains strong mainly due to our Mode 5 test sets, including our T-47/M5, which has received AIMS (Air Traffic Control Radar Beacon System, Identification Friend or Foe, Mark XII/Mark XIIA, Systems) approval, our CRAFT products, especially for Lockheed Martin for the Joint Strike Fighter (“JSF”) program, and the T-4530i and the TS-4530A. In August 2018, we also reported that the German government had notified our U.K. distributor of its intent to award a multi-year, multi-million dollar contract. In February 2019, the Company received an initial purchase order totaling $520,000 from its European Distributor, Muirhead Avionics (“Muirhead”) for Mode 5 test sets from the contract awarded by the German military. In August 2019, we reported the receipt of a follow-on purchase order totaling approximately $1.5 million from Muirhead for Mode 5 test sets from the contract awarded by the German military, and in June 2020 another order for approximately $1.6 million. This order is part of a seven-year procurement. The Company has already received orders of approximately $3.6 million.  

 

The units for Lockheed Martin will be used for the JSF program, and we believe this program will generate significant CRAFT orders as this program ramps up limited rate production. The Company had already received orders from Lockheed Martin for the AN/USM-708 units, for the JSF Program, totaling over $6 million. Sikorsky has also indicated that it will be ordering CRAFT test sets for its new helicopters. The Company also received orders from other customers for this product.

 

The Company continues to pursue opportunities in the international market for our Mode 5 test sets with good success. We continue to emphasize the importance of capturing the majority share of the large Identification Friend or Foe (“IFF”) international market. The Company is also in discussions with other major international customers that have evaluated our Mode 5 test sets and we are excited about the opportunities overseas, as evidenced by the order from Germany, but no guarantees can be made about these opportunities. We received and shipped our Mode 5 test sets to Japan, and subsequently received an additional order from Japan for approximately $616,000, which has been shipped. As noted above, our U.K. distributor and the Company have been successful in securing a major contract from the German military. In January 2020, we also reported the receipt of a $1.87 million T-47/M5 Mode 5 test set order for the United Kingdom. These test sets will be sold through our European distributor, Muirhead Avionics, to Leonardo MW Ltd., which is handling the Mode 5 upgrade effort for the United Kingdom Ministry of Defense. In July 2020 we received an order for approximately $1.6 million from South Korea for our T-47M5 test set. Many other countries have expressed significant interest in our Mode 5 test sets.

 

 

Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations (continued).

 

Overview (continued)

 

The Company has built a solid position in the Mode 5 IFF flight line test equipment market, and our products are very competitive in the overseas markets. We believe that we are well-positioned as our CRAFT and TS-4530A flight-line test sets have been endorsed by the U.S. military and we have already delivered test sets into 18 international markets.

 

We continue to be excited about our new lightweight, hand-held product (the “SDR/OMNI”) that we are planning to introduce in the near term. The technology for the hand-held product will provide a platform for future products. We are also working closely with our other military customers on new potential market opportunities that will be needed to maintain our sales and profitability growth.

 

This new technology could provide us with the opportunity to expand out of our relatively narrow avionics test market niche and enter the much larger secure communications radio test market. We believe that our new hardware platform provides unmatched capabilities in a market leading form factor. The world’s first “All-in-One” Avionics Test Set utilizes true software-designed radio technology that enables it to test all common avionics functions in one 4.5-pound test set. The SDR/OMNI has very wide frequency to accommodate new commercial and military waveforms in an industry leading 4.5-pound package. This is half the weight of competitive test sets. It utilizes the latest touch screen technology and has the capability to replace all TIC commercial test sets and military flight-line test sets with one handheld product. The initial product will be a commercial avionics air traffic control test set which adds ADS-B UAT test capability for the large general aviation test market that is subject to the January 1, 2020 requirement for ADS-B out capability. This will compete with the Aeroflex IFR 6000 test set and will replace the TIC TR-220 product. This release is initially targeted at the civil aviation market that is subject to the January 1, 2020 requirement for ADS-B out capability. Future software releases will incorporate Nav/Comm test functions which can be purchased as APP’s (applications) by our customers. We continue to evaluate other attractive potential market opportunities.

 

As a result of the potential new military applications for our new 4.5-pound SDR/OMNI hand-held test set, we are currently implementing a hardware CPU change to further improve high speed processing capabilities. This change will move the initial product introduction for the commercial avionics market towards the end of this calendar year, but will better position the Company for high dollar military contracts which will be critical to our long-term growth in revenues and profitability. The goal of this new test set is to expand out of our relatively narrow avionics test market niche and enter the much larger secure communications radio test market.

 

The Aeroflex litigation (see Note 12 to the unaudited condensed consolidated financial statements) did not result in a favorable outcome for the Company, despite our belief that we committed no wrong-doing.

 

The jury found no misappropriation of Aeroflex trade secrets but it found that the Company tortiously interfered with a prospective business opportunity and awarded damages. The jury also ruled that Tel tortiously interfered with Aeroflex’s non-disclosure agreements with two former Aeroflex employees. The jury also found that the former Aeroflex employees breached their non-disclosure agreements with Aeroflex. The Court conducted further hearings on the Company’s post-trial motions which sought to reduce the damages award of $2.8 million, as well as the punitive damages claim.  The Court denied the Company’s motions and awarded Aeroflex an additional $2.1 million of punitive damages. The Company has filed motions in January 2018 for the Court to reconsider the amount of damages on the grounds that they are duplicative and not legally supportable. The Court heard these motions and such motions were denied. The Company has filed for the appeal. The Company has posted a $2 million bond for the appeal. This $2 million bond amount will remain in place during the appeal process (See Note 12). The Company believes it has solid grounds to appeal this verdict and believes it has submitted strong legal arguments to vacate the decision. However, the Company cannot predict the timing or the outcome of the appeal. The Company is very optimistic about the prospects of its appeal for a judgment as a matter of law. The Company was hoping for a decision from the court this calendar year, but this timing will likely be delayed due to the three month COVID-19 related shutdown of the Kansas court system. As such, the appeal process is expected to take at least another year to complete.

 

The Company has the ability to settle this case at its sole discretion by withdrawing the appeal and paying the judgment plus interest amount.

 

We believe that our expected cash flows from operations, as a result of the increase in business, based on current projections, and current cash balances, which amounted to $5.2 million, including the $2 million is restricted cash will be sufficient to operate in the normal course of business for next 12 months from the issuance date of these financial statements, including any payments for settlement of the litigation (see liquidity section below).

 

 

Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations (continued).

 

Overview (continued)

 

In February 2020, Bank of America agreed to extend the line of credit from March 31, 2020 to January 31, 2021. The new agreement includes open availability up to $690,000. Monthly payments will be interest only.

 

At June 30, 2020, the Company’s backlog of orders was approximately $4.4 million as compared to $4.8 million at June 30, 2019. Historically, the Company obtains orders which are required to be filled in less than 12 months, and therefore, these anticipated orders are not reflected in the backlog.

 

Results of Operations

 

Sales

 

For the three months ended June 30, 2020, net sales decreased $367,025 (11.1%) to $2,939,437 as compared to $3,306,462 for the three months ended June 30, 2019. Avionics government sales increased $59,136 (2.3%) to $2,563,276 for the three months ended June 30, 2020 as compared to $2,504,140 for the three months ended June 30, 2019. This increase in sales is primarily attributed to increased sales of our Precision DME (Distance Measuring Equipment) products. Commercial sales decreased $426,161 (53.1%) to $376,161 for the three months ended June 30, 2020 as compared to $802,322 for the three months ended June 30, 2019. Our commercial business has been seriously impacted by the COVID-19 pandemic. The unprecedented and rapid spread of COVID-19 and the related travel restrictions and social distancing measures implemented throughout the world have significantly reduced demand for air travel.   

 

Gross Margin

 

For the three months ended June 30, 2020, total gross margin decreased $76,993 (4.9%) to $1,504,611 as compared to $1,581,604 for the three months ended June 30, 2019 primarily as a result of the decrease in volume. The gross margin percentage for the three months ended June 30, 2020 was 51.2% as compared to 47.8% for the three months ended June 30, 2019. The increase in gross margin percentage was the result of higher average prices and change in product mix.

 

Operating Expenses

 

Selling, general and administrative expenses increased $48,780 (8.0%) to $661,251 for the three months ended June 30, 2020 as compared to $612,471 for the three months ended June 30, 2019. This increase is primarily attributed to the increase in outside commissions, consulting fees and salaries and fringes offset partially by lower travel, audit and accrued profit sharing expenses.

 

Litigation costs decreased $7,811 to $2,696 for the three months ended June 30, 2020 as compared to $10,507 for the three months ended June 30, 2019. This decrease reflects decreased activity related to the litigation (see Notes 4 and 12 to the unaudited condensed consolidated financial statements). With respect to the Aeroflex litigation, the Company has appealed the $4.9 million judgement and has set aside $2 million in cash to support an appeal bond. The appeal submissions are now complete. We continue to believe that the trial judge erred in his legal ruling on standing and other issues during the trial and that we have strong grounds for the award to be vacated or reduced. Our attorneys estimate that it will take over a year from now for this appeal to work its way through the Kansas court system.

 

Engineering, research and development expenses increased $106,850 (20.3%) to $631,953 for the three months ended June 30, 2020 as compared to $525,103 for the three months ended June 30, 2019. The Company continues to invest in the development of the Company’s hand-held product line utilizing CRAFT and TS-4530A technology, the enhanced remote client, the T-4530i, and the incorporation of other product enhancements in existing designs.

 

Income from Operations

 

As a result of the above, the Company recorded income from operations of $208,711 for the three months ended June 30, 2020 as compared to income from operations of $433,523 for the three months ended June 30, 2019.

 

Other Income (Expense), Net

 

For the three months ended June 30, 2020, total other expense was $68,224, as compared to other expense of $175,747 for the three months ended June 30, 2019 primarily the result of the lower loss on the change in fair value of the common stock warrants, lower interest and higher other income.

 

 

Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations (continued).

 

Results of Operations (continued)

 

Income before Income Taxes

 

As a result of the above, the Company recorded income before taxes of $140,487 for the three months ended June 30, 2020 as compared to income before taxes of $257,776 for the three months ended June 30, 2019.

 

Income Taxes

 

For the three months ended June 30, 2020, the Company recorded income tax expense of $29,507 as compared to $-0- for the three months ended June 30, 2019. For the three months ended June 30, 2019, the Company recorded no income tax benefit as such amounts were offset by a valuation allowance.

 

Net Income

 

As a result of the above, the Company recorded net income of $110,980 for the three months ended June 30, 2020 as compared to net income of $257,776 for the three months ended June 30, 2019. 

 

Liquidity and Capital Resources

 

At June 30, 2020, the Company had net working capital of $2,351,142, including accrued legal damages related to the Aeroflex litigation of $5,732,693, as compared to working capital of $1,776,176 at March 31, 2020. This change is primarily the result of the increase in accounts receivable and inventories partially offset by SBA PPP loan.

 

During the three months ended June 30, 2020, the Company’s cash balance (including the $2 million in restricted cash for the appeal) increased by $60,600 to $5,195,339.  The Company’s principal sources and uses of funds were as follows:

 

Cash (used in) provided by operating activities. For the three months ended June 30, 2020, the Company used $646,542 in cash for operations as compared to providing $470,711 in cash from operations for the three months ended June 30, 2019.  This increase in cash used for operations is mostly attributed to increases in accounts receivable and inventories offset partially by the lower change in accounts payable and accrued expenses as we substantially reduced our accounts payable in the prior year as a result of the additional cash from operations.

 

Cash used in investing activities.  For the three months ended June 30, 2020, the Company used $15,386 of its cash for investment activities, as compared to $23,507 for the three months ended June 30, 2019 as a result of a decrease in the purchase of capital equipment.

 

Cash provided by (used in) financing activities. For the three months ended June 30, 2020, the Company provided $722,528 in cash from financing activities as compared to using $50,602 for the three months ended June 30, 2019. This increase is the due to the proceeds received from the SBA PPP Loan program.

 

In March 2020, Bank of America extended the line of credit to January 31, 2021. The new agreement includes a line of credit up to $690,000. Monthly payments are interest only. The line was collateralized by substantially all of the assets of the Company. 

 

As of June 30, 2020 and March 31, 2020, the outstanding balances were $680,000 and $680,000, respectively.  As of June 30, 2020 the remaining availability under this line is $10,000. The interest rate at June 30, 2020 was 3.94%.

 

On March 27, 2020, President Trump signed the Coronavirus Aid, Relief and Economic Security (the “CARES Act”), which, among other things, outlines the provisions of the Paycheck Protection Program (the “PPP”). The Company determined that it met the criteria to be eligible to obtain a loan under the PPP because, among other reasons, in light of the COVID-19 outbreak and the uncertainty of economic conditions related thereto, the loan was considered necessary to support the Company’s ongoing operations and retain all its employees. In addition, President Trump signed into law the Paycheck Protection Program and Health Care Enhancement Act on April 24, 2020, which increased funding provided by the CARES Act. On May 4, 2020 the Company issued a promissory note (the “Note”) to Bank of America in the principal aggregate amount of $722,577 (the “PPP Loan”) pursuant to the Paycheck Protection Program (“PPP”) under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). The amount was deposited in our bank on May 4, 2020. On June 5, 2020 the Paycheck Protection Program Flexibility Act was signed into law and extended the program until December 31, 2020.

 

 

Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations (continued).

 

Liquidity and Capital Resources (continued)

 

Under the terms of the CARES Act, PPP loan recipients can apply for and be granted forgiveness for all or a portion of loan granted under the program. Such forgiveness will be determined, subject to limitations, based on the use of loan proceeds for payment of payroll costs and any payments of mortgage interest, rent, and utilities. While we are believe that we met the conditions to obtain forgiveness for a large portion of the PPP loan, no assurance is provided that the Company will in fact obtain forgiveness of the PPP Loan in whole or in part. The PPP Loan has a two-year term and bears interest at a rate of 1% per annum. Monthly principal and interest payments are deferred for six months after the date of disbursement. The PPP Loan may be prepaid at any time prior to maturity with no prepayment penalties. Based on the June 5, 2020 Paycheck Protection Program Flexibility Act, certain changes will need to be made to the original Note, based on the new law.

 

Moving forward, we believe that our expected cash flows from operations, as a result of the increase in business, and current cash balances, which amounted to $5.2 million, including the $2 million is restricted cash will be sufficient to operate in the normal course of business for next 12 months from the issuance date of these financial statements, including any payments for settlement of the litigation.

 

Currently, the Company has no material future capital expenditure requirements.

 

There was no significant impact on the Company’s operations as a result of inflation for the three months ended June 30, 2020.

 

These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2020, filed with the SEC on June 29, 2020 (the “Annual Report”).

 

Off-Balance Sheet Arrangements

 

As of June 30, 2020, the Company had no off-balance sheet arrangements.

 

Critical Accounting Policies

 

Our critical accounting policies are described in Management’s Discussion and Analysis of Financial Condition and Results of Operations included in our Annual Report. There have been no changes in our critical accounting policies. Our significant accounting policies are described in our notes to the 2020 consolidated financial statements included in our Annual Report.

 

 

 

Item 3.  Quantitative and Qualitative Disclosures about Market Risk.

 

We do not hold any derivative instruments and do not engage in any hedging activities.

 

Item 4.  Controls and Procedures.

 

(a)          Evaluation of Disclosure Controls and Procedures

 

The Company, including its principal executive officer and principal financial officer, conducted an evaluation of the effectiveness of the design and operation of its disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 (the “Exchange Act”) as of the end of the period covered by this report (the “Evaluation Date”). Based upon the evaluation, our principal executive officer and principal financial officer concluded as of the Evaluation Date that our disclosure controls and procedures were effective. Disclosure controls are controls and procedures designed to reasonably ensure that information required to be disclosed in our reports filed under the Exchange Act, such as this report, is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms. Disclosure controls include controls and procedures designed to reasonably ensure that such information is accumulated and communicated to our management, including our chief executive officer and chief financial officer, as appropriate to allow timely decisions regarding required disclosure.

 

(b)          Changes in Internal Control over Financial Reporting

 

The Company, including its principal executive officer and principal financial officer, reviewed the Company’s internal control over financial reporting, pursuant to Rule 13(a)-15(e) under the Exchange Act and concluded that there was no change in the Company’s internal control over financial reporting during the Company’s most recently completed fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

 

 

 

PART II – OTHER INFORMATION

 

Item 1.  Legal Proceedings.

 

The Aeroflex litigation (see Note 12 to the unaudited condensed consolidated financial statements) did not result in a favorable outcome for the Company, despite our belief that we committed no wrong-doing.

 

The jury found no misappropriation of Aeroflex trade secrets but found that the Company tortiously interfered with a prospective business opportunity and awarded damages. The jury also ruled that Tel tortiously interfered with Aeroflex’s non-disclosure agreements with two former Aeroflex employees. The jury also found that the former Aeroflex employees breached their non-disclosure agreements with Aeroflex. The Court conducted further hearings on the Company’s post-trial motions which sought to reduce the damages award of $2.8 million, as well as the punitive damages claim.  The Court denied the Company’s motions and awarded Aeroflex an additional $2.1 million of punitive damages. The Company has filed motions in January 2018 for the Court to reconsider the amount of damages on the grounds that they are duplicative and not legally supportable. The Court heard these motions and such motions were denied. The Company has filed for the appeal. The Company has posted a $2 million bond for the appeal. This $2 million bond amount will remain in place during the appeal process (See Note 4).

 

As reflected in the accompanying condensed consolidated balance sheet as of June 30, 2020, the Company has recorded estimated damages to date of $5.7 million, including interest, as a result of a jury verdict associated with the Aeroflex litigation. The Company has filed for an appeal (see Notes 4 and 12). As of June 30, 2020, the Company has cash balances of $5.2 million, including $2 million of restricted cash as well as $1.8 million in accounts receivable. We expect to continue to have sufficient cash to fully cover the Aeroflex damages amount.

 

The Company is very optimistic about the prospects of its appeal for a judgment as a matter of law. The Company was hoping for a decision from the court this calendar year but this timing will likely be delayed due to the three-month COVID-19 related shutdown of the Kansas court system. As such, the appeal process is expected to take at least another year to complete unless a settlement can be reached. The Company has the ability to settle this case at its sole discretion by withdrawing the appeal and paying the judgment plus interest amount.

 

Other than the matters outlined above, we are currently not involved in any litigation that we believe could have a material adverse effect on our financial condition or results of operations. There is no action, suit, proceeding, inquiry or investigation before any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge of executive officers of our Company, threatened against or affecting our Company, or our common stock in which an adverse decision could have a material effect.

 

Item 1A.  Risk Factors.

 

We believe there are no changes that constitute material changes from the risk factors previously disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2020, filed with the SEC on June 29, 2020.

 

Item 2.   Unregistered Sales of Equity Securities and Use of Proceeds.

 

There were no unregistered sales of the Company’s equity securities during the quarter ended June 30, 2020.

 

Item 3.   Defaults upon Senior Securities.

 

There has been no default in the payment of principal, interest, sinking or purchase fund installment, or any other material default, with respect to any indebtedness of the Company.

 

Item 4.   Mine Safety Disclosures.

 

Not applicable.  

 

Item 5.  Other Information.

 

There is no other information required to be disclosed under this item which was not previously disclosed.

 

 

Item 6.  Exhibits.

 

Exhibit No.

 

Description

 

 

 

31.1

 

Certification of Principal Executive Officer, pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 302 of 2002*

 

 

 

31.2

 

Certification of Principal Financial Officer, pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 302 of 2002*

 

 

 

32.1

 

Certification of Principal Executive Officer, pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002*

 

 

 

32.2

 

Certification of Principal Financial Officer, pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002*

 

 

 

101.INS

 

XBRL Instance Document*

 

 

 

101.SCH

 

Taxonomy Extension Schema Document*

 

 

 

101.CAL

 

Taxonomy Extension Calculation Linkbase Document*

 

 

 

101.DEF

 

Taxonomy Extension Definition Linkbase Document*

 

 

 

101.LAB

 

Taxonomy Extension Label Linkbase Document*

 

 

 

101.PRE

 

Taxonomy Extension Presentation Linkbase Document*

 

* Filed herewith

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

 

TEL-INSTRUMENT ELECTRONICS CORP.

 

 

 

 

 

 

 

 

 

 

Date: August 19, 2020

 

By:

 /s/ Jeffrey C. O’Hara

 

 

 

 

Name: Jeffrey C. O’Hara

 

 

 

 

Title:   Chief Executive Officer

            Principal Executive Officer

 

 

 

 

 

 

 

Date: August 19, 2020

 

By:

 /s/ Joseph P. Macaluso

 

 

 

 

Name: Joseph P. Macaluso

 

 

 

 

Title:   Principal Financial Officer

            Principal Accounting Officer

 

 

 

 

 

 

25
EX-31.1 2 ex_199808.htm EXHIBIT 31.1 ex_199808.htm

 

Exhibit 31.1

 

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 302 OF

THE SARBANES-OXLEY ACT OF 2002

 

I, Jeffrey C. O’Hara, certify that:

 

1.

I have reviewed this Form 10-Q of Tel-Instrument Electronics Corp.;

 

2.

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.

Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods present in this report;

 

4.

Along with the Principal Financial Officer, I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13-a-15(f) and 15d-15(f)) for the registrant and have:

 

 

a)

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

 

b)

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

 

c)

Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

 

d)

Disclosed in this report any change in the registrant’s internal control over financing reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5.

I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

 

a)

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

 

b)

Any fraud, whether or not material, that involved management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

 Date: August 19, 2020

By:

/s/ Jeffrey C. O’Hara

 

 

 

Jeffrey C. O’Hara

 

 

 

Principal Executive Officer

Tel-Instrument Electronics Corp.

 

 

 

 

 
EX-31.2 3 ex_199809.htm EXHIBIT 31.2 ex_199809.htm

 

Exhibit 31.2

 

CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 302 OF

THE SARBANES-OXLEY ACT OF 2002

 

I, Joseph P. Macaluso, certify that:

 

1.

I have reviewed this Form 10-Q of Tel-Instrument Electronics Corp.;

 

2.

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.

Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods present in this report;

 

4.

Along with the Principal Executive Officer, I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13-a-15(f) and 15d-15(f)) for the registrant and have:

 

 

a)

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

 

b)

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

 

c)

Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

 

d)

Disclosed in this report any change in the registrant’s internal control over financing reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5.

I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

 

a)

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

 

b)

Any fraud, whether or not material, that involved management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

 Date: August 19, 2020

By:

/s/ Joseph P. Macaluso

 

 

 

Joseph P. Macaluso

 

 

 

Principal Financial Officer

Tel-Instrument Electronics Corp.

 

 

 

 
EX-32.1 4 ex_199810.htm EXHIBIT 32.1 ex_199810.htm

 

Exhibit 32.1

 

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906 OF

THE SARBANES-OXLEY ACT OF 2002

 

In connection with this Quarterly Report of Tel-Instrument Electronics Corp. (the “Company”), on Form 10-Q for the quarter ended June 30, 2020, as filed with the U.S. Securities and Exchange Commission on the date hereof, I, Jeffrey C. O’Hara, Principal Executive Officer of the Company, certify to the best of my knowledge, pursuant to 18 U.S.C. Sec. 1350, as adopted pursuant to Sec. 906 of the Sarbanes-Oxley Act of 2002, that:

 

(1)

Such Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

(2)

The information contained in such Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

 

Date: August 19, 2020

By:

/s/ Jeffrey C. O’Hara

 

 

 

Jeffrey C. O’Hara

 

 

 

Principal Executive Officer

Tel-Instrument Electronics Corp.

 

 

 

 

 

 

 

 
EX-32.2 5 ex_199811.htm EXHIBIT 32.2 ex_199811.htm

 

Exhibit 32.2

 

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906 OF

THE SARBANES-OXLEY ACT OF 2002

 

In connection with this Quarterly Report of Tel-Instrument Electronics Corp. (the “Company”), on Form 10-Q for the quarter ended June 30, 2020, as filed with the U.S. Securities and Exchange Commission on the date hereof, I, Joseph P. Macaluso, Principal Financial Officer of the Company, certify to the best of my knowledge, pursuant to 18 U.S.C. Sec. 1350, as adopted pursuant to Sec. 906 of the Sarbanes-Oxley Act of 2002, that:

 

(1)

Such Quarterly Report on Form 10-Q for the quarter ended June 30, 2020 fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

(2)

The information contained in such Quarterly Report on Form 10-Q for the quarter ended June 30, 2020 fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

 

Date: August 19, 2020

By:

/s/ Joseph P. Macaluso

 

 

 

Joseph P. Macaluso

 

 

 

Principal Financial Officer

Tel-Instrument Electronics Corp.

 

 

 

 

 
EX-101.INS 6 tikk-20200630.xml XBRL INSTANCE DOCUMENT 0000096885 2020-04-01 2020-06-30 0000096885 2020-08-11 0000096885 2020-06-30 0000096885 2020-03-31 0000096885 us-gaap:SeriesAPreferredStockMember 2020-06-30 0000096885 us-gaap:SeriesAPreferredStockMember 2020-03-31 0000096885 us-gaap:SeriesBPreferredStockMember 2020-06-30 0000096885 us-gaap:SeriesBPreferredStockMember 2020-03-31 0000096885 us-gaap:SeriesAPreferredStockMember 2020-04-01 2020-06-30 0000096885 us-gaap:SeriesAPreferredStockMember 2019-04-01 2020-03-31 0000096885 us-gaap:SeriesBPreferredStockMember 2020-04-01 2020-06-30 0000096885 us-gaap:SeriesBPreferredStockMember 2019-04-01 2020-03-31 0000096885 2019-04-01 2019-06-30 0000096885 us-gaap:SeriesAPreferredStockMember us-gaap:PreferredStockMember 2020-03-31 0000096885 us-gaap:SeriesBPreferredStockMember us-gaap:PreferredStockMember 2020-03-31 0000096885 us-gaap:CommonStockMember 2020-03-31 0000096885 us-gaap:AdditionalPaidInCapitalMember 2020-03-31 0000096885 us-gaap:RetainedEarningsMember 2020-03-31 0000096885 us-gaap:SeriesAPreferredStockMember us-gaap:PreferredStockMember 2020-04-01 2020-06-30 0000096885 us-gaap:SeriesBPreferredStockMember us-gaap:PreferredStockMember 2020-04-01 2020-06-30 0000096885 us-gaap:AdditionalPaidInCapitalMember 2020-04-01 2020-06-30 0000096885 us-gaap:RetainedEarningsMember 2020-04-01 2020-06-30 0000096885 us-gaap:SeriesAPreferredStockMember us-gaap:PreferredStockMember 2020-06-30 0000096885 us-gaap:SeriesBPreferredStockMember us-gaap:PreferredStockMember 2020-06-30 0000096885 us-gaap:CommonStockMember 2020-06-30 0000096885 us-gaap:AdditionalPaidInCapitalMember 2020-06-30 0000096885 us-gaap:RetainedEarningsMember 2020-06-30 0000096885 us-gaap:SeriesAPreferredStockMember us-gaap:PreferredStockMember 2019-03-31 0000096885 us-gaap:SeriesBPreferredStockMember us-gaap:PreferredStockMember 2019-03-31 0000096885 us-gaap:CommonStockMember 2019-03-31 0000096885 us-gaap:AdditionalPaidInCapitalMember 2019-03-31 0000096885 us-gaap:RetainedEarningsMember 2019-03-31 0000096885 2019-03-31 0000096885 us-gaap:SeriesAPreferredStockMember us-gaap:PreferredStockMember 2019-04-01 2019-06-30 0000096885 us-gaap:SeriesBPreferredStockMember us-gaap:PreferredStockMember 2019-04-01 2019-06-30 0000096885 us-gaap:AdditionalPaidInCapitalMember 2019-04-01 2019-06-30 0000096885 us-gaap:RetainedEarningsMember 2019-04-01 2019-06-30 0000096885 us-gaap:SeriesAPreferredStockMember us-gaap:PreferredStockMember 2019-06-30 0000096885 us-gaap:SeriesBPreferredStockMember us-gaap:PreferredStockMember 2019-06-30 0000096885 us-gaap:CommonStockMember 2019-06-30 0000096885 us-gaap:AdditionalPaidInCapitalMember 2019-06-30 0000096885 us-gaap:RetainedEarningsMember 2019-06-30 0000096885 2019-06-30 0000096885 tikk:RepairsAndCalibrationMember 2020-04-01 2020-06-30 0000096885 us-gaap:PublicUtilitiesInventoryReplacementPartsMember 2020-04-01 2020-06-30 0000096885 tikk:ExtendedWarrantyMember 2020-04-01 2020-06-30 0000096885 tikk:OtherRevenueMember 2020-04-01 2020-06-30 0000096885 tikk:RepairsAndCalibrationMember 2019-04-01 2019-06-30 0000096885 us-gaap:PublicUtilitiesInventoryReplacementPartsMember 2019-04-01 2019-06-30 0000096885 tikk:ExtendedWarrantyMember 2019-04-01 2019-06-30 0000096885 tikk:OtherRevenueMember 2019-04-01 2019-06-30 0000096885 tikk:CommercialCustomersMember tikk:TestUnitsMember 2020-04-01 2020-06-30 0000096885 tikk:USGovernmentMember tikk:TestUnitsMember 2020-04-01 2020-06-30 0000096885 tikk:CommercialCustomersMember tikk:TestUnitsMember 2019-04-01 2019-06-30 0000096885 tikk:USGovernmentMember tikk:TestUnitsMember 2019-04-01 2019-06-30 0000096885 pf0:US 2020-04-01 2020-06-30 0000096885 pf0:US 2019-04-01 2019-06-30 0000096885 tikk:INTERNATIONALMember 2020-04-01 2020-06-30 0000096885 tikk:INTERNATIONALMember 2019-04-01 2019-06-30 0000096885 tikk:GovernmentReceivablesMember 2020-06-30 0000096885 tikk:GovernmentReceivablesMember 2020-03-31 0000096885 tikk:CommercialReceivablesMember 2020-06-30 0000096885 tikk:CommercialReceivablesMember 2020-03-31 0000096885 tikk:ConvertiblePreferrredStockMember 2020-04-01 2020-06-30 0000096885 tikk:ConvertiblePreferrredStockMember 2019-04-01 2019-06-30 0000096885 us-gaap:EmployeeStockOptionMember 2020-04-01 2020-06-30 0000096885 us-gaap:EmployeeStockOptionMember 2019-04-01 2019-06-30 0000096885 us-gaap:WarrantMember 2020-04-01 2020-06-30 0000096885 us-gaap:WarrantMember 2019-04-01 2019-06-30 0000096885 us-gaap:LineOfCreditMember 2019-06-01 2019-06-30 0000096885 us-gaap:LineOfCreditMember 2020-06-30 0000096885 2020-05-04 0000096885 2020-05-04 2020-05-04 0000096885 tikk:AvionicsGovernmentMember 2020-04-01 2020-06-30 0000096885 tikk:AvionicsCommercialMember 2020-04-01 2020-06-30 0000096885 tikk:AvionicsTotalMember 2020-04-01 2020-06-30 0000096885 us-gaap:CorporateMember 2020-04-01 2020-06-30 0000096885 tikk:AvionicsGovernmentMember 2019-04-01 2019-06-30 0000096885 tikk:AvionicsCommercialMember 2019-04-01 2019-06-30 0000096885 tikk:AvionicsTotalMember 2019-04-01 2019-06-30 0000096885 us-gaap:CorporateMember 2019-04-01 2019-06-30 0000096885 us-gaap:DomesticCountryMember 2020-06-30 0000096885 us-gaap:BuildingMember 2020-06-30 0000096885 us-gaap:EquipmentMember 2020-06-30 0000096885 tikk:AeroflexMember tikk:BusinessOpportunityMember 2017-11-22 2017-11-22 0000096885 tikk:AeroflexMember tikk:NonDisclosureAgreementsMember 2017-11-22 2017-11-22 0000096885 tikk:AeroflexMember tikk:TotalDamagesAwardByCourtMember 2017-11-22 2017-11-22 0000096885 tikk:AeroflexMember tikk:AdditionalPunitiveDamagesMember 2017-04-01 2018-03-31 0000096885 tikk:AeroflexMember 2017-04-01 2018-03-31 0000096885 tikk:AeroflexMember 2017-11-22 2018-06-30 0000096885 tikk:AeroflexMember 2018-07-01 2019-03-31 0000096885 tikk:AeroflexMember 2019-07-01 2020-03-31 0000096885 tikk:AeroflexMember 2018-01-01 2018-01-31 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure false --03-31 Q1 2021 2020-06-30 10-Q 0000096885 Yes false Non-accelerated Filer No TEL INSTRUMENT ELECTRONICS CORP false true 3255887 3185796 3126195 1809297 1411644 3483883 3092679 2009543 2008544 288555 382428 10777074 10021490 249596 263750 254290 306740 2650890 2712780 35109 35109 13966959 13339869 680000 680000 321145 0 217643 214793 944151 1035023 90257 145168 5732693 5657549 0 49 440043 512732 8425932 8245314 36647 91947 311216 327132 401432 0 9175227 8664393 3575998 3515998 1107367 1087367 325586 325586 7541900 7616624 -7759119 -7870099 4791732 4675476 13966959 13339869 1000000 1000000 0.10 0.10 0.10 0.10 500000 500000 500000 500000 0.08 0.08 166667 166667 166667 166667 0.08 0.08 0.10 0.10 0.10 0.10 3255887 3255887 3255887 3255887 7000000 7000000 2939437 3306462 1434826 1724858 1504611 1581604 661251 612471 2696 10507 631953 525103 1295900 1148081 208711 433523 0 -78500 13854 0 2846 1000 75144 80510 9780 17737 -68224 -175747 140487 257776 29507 0 110980 257776 80000 80000 30980 177776 0.01 0.05 0.01 0.04 3255887 3255887 3255887 4915665 500000 3515998 166667 1087367 3255887 325586 7616624 -7870099 4675476 60000 20000 -80000 5276 5276 110980 500000 3575998 166667 1107367 3255887 325586 7541900 -7759119 4791732 500000 3275998 166667 1007367 3255887 325586 7914955 -12606589 -82683 60000 20000 -80000 5841 5841 257776 500000 3335998 166667 1027367 3255887 325586 7840796 -12348813 180934 0.08 0.08 61890 0 29540 19075 52450 0 10000 10000 5276 5841 397653 -620127 401204 175342 -93873 -1286 -90872 -572448 -72689 26957 -70827 115489 -52450 0 75144 83450 -646542 470711 15386 23507 -15386 -23507 722577 0 0 50000 49 602 722528 -50602 60600 396602 5134739 2590727 5195339 2987329 981806 2009543 2005523 585856 2008544 2004871 0 0 4962 20747 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; "> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><font style="text-decoration:underline">Note 1 &#x2013; Business, Organization and Liquidity</font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>Business and Organization</i></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Tel-Instrument Electronics Corp. (&#x201c;Tel&#x201d;, &#x201c;TIC&#x201d; or the &#x201c;Company&#x201d;) has been in business since 1947.&#xa0;&#xa0;The Company is a leading designer and manufacturer of avionics test and measurement instruments for the global, commercial air transport, general aviation, and government/military defense markets.&#xa0;&#xa0;Tel provides instruments to test, measure, calibrate, and repair a wide range of airborne navigation and communication equipment.&#xa0;&#xa0;The Company sells its equipment in both domestic and international markets. Tel continues to develop new products in anticipation of customers&#x2019; needs and to maintain its strong market position.&#xa0;&#xa0;Its development of multi-function testers has made it easier for customers to perform ramp tests with less operator training, fewer test sets, and lower product support costs.&#xa0;&#xa0;The Company has become a major manufacturer and supplier of Identification Friend or Foe (&#x201c;IFF&#x201d;) flight line test equipment over the last few years.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company is publicly traded and was quoted on the Over-the-Counter Market Place (&#x201c;OTCQB&#x201d;) under the symbol &#x201c;TIKK&#x201d;.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company&#x2019;s operations have been affected by the recent and ongoing outbreak of the coronavirus disease 2019 (COVID-19) which in March 2020, was declared a pandemic by the World Health Organization. While the business is still strong, we have been impacted by the pandemic in our commercial business and delays in orders from some of our military customers. The pandemic has also impacted our supply chain and our labor force, but we have been working through these issues without having any significant delays. Our international business remains strong mainly due to our Mode 5 test sets, including our T-47/M5, which has received AIMS (Air Traffic Control Radar Beacon System, Identification Friend or Foe, Mark XII/Mark XIIA, Systems) approval, our CRAFT products, especially for Lockheed Martin for the Joint Strike Fighter (&#x201c;JSF&#x201d;) program, and the T-4530i and the TS-4530A. The ultimate disruption which may be caused by the outbreak is uncertain; however, it may result in a material adverse impact on the Company&#x2019;s financial position, operations and cash flows. Possible areas that may be affected include, but are not limited to, disruption to the Company&#x2019;s customers and revenue, labor workforce, inability of customers to pay outstanding accounts receivable due and owing to the Company as they limit or shut down their businesses,&#xa0; customers seeking relief or&#xa0; extended payment plans relating to accounts receivable due and owing to the Company, unavailability of products and supplies used in operations, and the decline in value of assets held by the Company, including property and equipment.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Moving forward, we believe that our expected cash flows from operations, as a result of the increase in business, and current cash balances, which amounted to $5.2 million, including the $2 million is restricted cash will be sufficient to operate in the normal course of business for next 12 months from the issuance date of these financial statements, including any payments for settlement of the litigation.</p><br/></div> 2000000 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; "> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><font style="text-decoration:underline">Note 2&#xa0;&#x2013; Summary of Significant Accounting Policies</font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>Basis of Presentation</i></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary to present fairly the financial position of Tel-Instrument Electronics Corp. as of June 30, 2020, the results of operations and changes in stockholders&#x2019; equity (deficit) for the three months ended June 30, 2020 and June 30, 2019, and statements of cash flows for the three months ended June 30, 2020 and June 30, 2019.&#xa0;&#xa0;These results are not necessarily indicative of the results to be expected for the full year.&#xa0;&#xa0;The unaudited condensed consolidated financial statements have been prepared in accordance with the requirements of Form 10-Q and consequently do not include disclosures normally made in an Annual Report on Form 10-K.&#xa0;&#xa0;The March 31, 2020 balance sheet included herein was derived from the audited financial statements included in the Company&#x2019;s Annual Report on Form 10-K as of that date.&#xa0;&#xa0;Accordingly, the unaudited condensed consolidated financial statements included herein should be reviewed in conjunction with the financial statements and notes thereto included in the Company&#x2019;s Annual Report on Form 10-K for the fiscal year ended March 31, 2020, as filed with the United States Securities and Exchange Commission (the &#x201c;SEC&#x201d;) on June 29, 2020 (the &#x201c;Annual Report&#x201d;).</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>Revenue Recognition</i></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company accounts for revenue recognition in accordance with ASC 606.The core principle of Topic 606 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. The ASU defines a five-step process to achieve the core principal and, in doing so, it is possible more judgement and estimates may be required within the revenue recognition process than are currently in use.&#xa0;</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company generates revenue from designing, manufacturing and selling avionic tests and measurement solutions for the global commercial air transport, general aviation, and government/military aerospace and defense markets. The Company also offers calibration and repair services for a wide range of airborne navigation and communication equipment.&#xa0;</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Under ASU 2014-09 Topic 606, <i>Revenue from Contacts with Customers</i> (&#x201c;ASC 606&#x201d;), the Company recognizes revenue when the customer obtains control of promised goods or services, in an amount that reflects the consideration which is expected to be received in exchange for those goods or services. The Company recognizes revenue following the five-step model prescribed under ASC 606: (i) identify contract(s) with a customer; (ii) identify the performance obligation(s) in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligation(s) in the contract; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><font style="text-decoration:underline">Nature of goods and services</font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The following is a description of the products and services from which the Company generates revenue, as well as the nature, timing of satisfaction of performance obligations, and significant payment terms for each.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><font style="text-decoration:underline"><i>Test Units/Sets </i></font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company develops and manufactures unit sets to test navigation and communication equipment, such as ramp testers and bench testers for equipment installed in aircraft. The Company recognizes revenue when the customer obtains control of the Company&#x2019;s product based on the contractual shipping terms of the contract, which is usually at the time of shipment. Revenue on products are presented gross because the Company is primarily responsible for fulfilling the promise to provide the product, is responsible to ensure that the product is produced in accordance with the related supply agreement, and bears the risk of loss while the inventory is in-transit. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring products to the customer.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price based on the estimated relative standalone selling prices of the promised products or services underlying each performance obligation. The Company determines&#xa0;stand-alone selling prices based on the price at which the performance obligation is sold separately. If the stand-alone selling price is not observable through past transactions, the Company estimates the standalone selling price taking into account available information such as market conditions and internally approved pricing guidelines related to the performance obligations.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">When determining the transaction price of a contract, an adjustment is made if payment from the customer occurs either significantly before or significantly after performance, resulting in a significant financing component. Applying the practical expedient in paragraph 606-10-32-18, the Company does not assess whether a significant financing component exists if the period between when the Company performs its obligations under the contract and when the customer pays is one year or less. None of the Company&#x2019;s contracts contained a significant financing component as of June 30, 2020.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><font style="text-decoration:underline"><i>Replacement Parts </i></font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company offers replacement parts for test equipment, ramp testers, and bench testers. Similar to the sale of test units, the control of the product transfers at a point of time and therefore, revenue is recognized at the point in time when the obligation to the customer has been fulfilled.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><font style="text-decoration:underline"><i>Extended Warranties</i></font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The extended warranties sold by the Company provide a level of assurance beyond the coverage for defects that existed at the time of a sale or against certain types of covered damage with coverage terms generally ranging from 5 to 7 years. Amounts received for warranties are recorded as deferred revenue and recognized as revenue ratably over the respective term of the agreements. As of June 30, 2020, approximately $391,414 is expected to be recognized from remaining performance obligations for extended warranties as compared to $413,554 at March 31, 2020. &#xa0;For the three months ended June 30, 2020, the Company recognized revenue of $22,140 from amounts that were included in Deferred Revenue as compared to $19,491 for the three months ended June 30, 2019.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The following table provides a summary of the changes in deferred revenues for the three months ended June 30, 2020:</p><br/><table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 10%; margin-left: 10%; width: 80%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 81%;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:4.5pt;">Deferred revenues at April 1, 2020</p> </td> <td id="new_id-1551" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1552" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1553" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">413,554</td> <td id="new_id-1554" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Additional extended warranties</p> </td> <td id="new_id-1555" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1556" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1557" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-1558" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Revenue recognized for the three months ended June 30, 2020</p> </td> <td id="new_id-1559" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1560" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1561" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(22,140</td> <td id="new_id-1562" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">)</p> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Deferred revenues at June 30, 2020</p> </td> <td id="new_id-1563" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1564" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1565" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">391,414</td> <td id="new_id-1566" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> </table><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><font style="text-decoration:underline"><i>Other Deferred Revenues</i></font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company sometimes receives payments in advance of shipment. These amounts are classified as other deferred revenues. For the periods ended June 30, 2020 and March 31, 2020, the Company has other deferred revenues of $10,059 and $58,746, respectively.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><font style="text-decoration:underline"><i>Repair and Calibration Services </i></font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company offers repair and calibration services for units that are returned for annual calibrations and/or for repairs after the warranty period has expired. The Company repairs and calibrates a wide range of airborne navigation and communication equipment. Revenue is recognized at the time the repaired or calibrated unit is shipped back to the customer, as it is at this time that the work is completed.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><font style="text-decoration:underline"><i>Other</i></font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The majority of the Company&#x2019;s revenues are from contracts with the U.S. government, airlines, aircraft manufacturers, such as Boeing and Lockheed Martin, domestic distributors, international distributors for sales to military and commercial customers, and other commercial customers. The contracts with the U.S. government typically are subject to the Federal Acquisition Regulation (&#x201c;FAR&#x201d;) which provides guidance on the types of costs that are allowable in establishing prices for goods and services provided under U.S. government contracts.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Payment terms and conditions vary by contract, although terms generally include a requirement of payment within a range from&#xa0;30&#xa0;to&#xa0;60&#xa0;days, or in certain cases, up-front deposits. In circumstances where the timing of&#xa0;revenue&#xa0;recognition&#xa0;differs from the timing of invoicing, the Company has determined that the Company's contracts generally do not include a significant financing component. Payments received prior to the delivery of units or services performed are recorded as deferred revenues. Taxes collected from customers, which are subsequently remitted to governmental authorities, are excluded from sales. The Company applied the practical expedient to account for shipping and handling activities as fulfillment cost rather than as a separate performance obligation. Shipping and handling costs charged to customers are classified as sales, and the shipping and handling costs incurred are included in cost of sales.<b>&#xa0;</b></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">All sales are denominated in U.S. dollars.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company excludes from revenues all taxes assessed by a governmental authority that are imposed on the sale of its products and collected from customers.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company chose to apply the available practical expedient as commission eligible sales orders are fulfilled within less than one year and commissions are generally paid by the Company within 30 days of the related sales order fulfillment.&#xa0;Accordingly, management has determined that no change in accounting for costs to obtain a contract will be required for the Company to conform to ASC 606.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><font style="text-decoration:underline"><i>Disaggregation of revenue</i></font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">In the following tables, revenue is disaggregated by revenue category.</p><br/><table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 10%; margin-left: 10%; width: 80%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1567" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="6" id="new_id-1568" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>For the Three Months Ended </b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>June 30, 2020</b></p> </td> <td id="new_id-1569" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1570" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1571" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Commercial</b></p> </td> <td id="new_id-1572" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-1573" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1574" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Government</b></p> </td> <td id="new_id-1575" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 62%;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><font style="text-decoration:underline"><b>Sales Distribution </b></font></p> </td> <td id="new_id-1576" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1577" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1578" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1579" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1580" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1581" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1582" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1583" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Test Units</p> </td> <td id="new_id-1584" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1585" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td id="new_id-1586" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">58,573</td> <td id="new_id-1587" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1588" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1589" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td id="new_id-1590" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">2,563,277</td> <td id="new_id-1591" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1592" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1593" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1594" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">58,573</td> <td id="new_id-1595" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1596" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1597" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1598" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">2,563,277</td> <td id="new_id-1599" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> </table><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The remainder of our revenues for the three months ended June 30, 2020 are derived from repairs and calibration of $277,898, replacement parts of $16,070, extended warranties of $22,140 and other revenues of $1,479. We do not disaggregate these revenue streams as they are not deemed an important element related to how management operates the business between segments.</p><br/><table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 10%; margin-left: 10%; width: 80%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1600" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="6" id="new_id-1601" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>For the Three Months Ended </b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>June 30, 2019</b></p> </td> <td id="new_id-1602" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1603" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1604" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Commercial</b></p> </td> <td id="new_id-1605" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-1606" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1607" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Government</b></p> </td> <td id="new_id-1608" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 62%;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><font style="text-decoration:underline"><b>Sales Distribution </b></font></p> </td> <td id="new_id-1609" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1610" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1611" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1612" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1613" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1614" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1615" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1616" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Test Units</p> </td> <td id="new_id-1617" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1618" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td id="new_id-1619" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">295,923</td> <td id="new_id-1620" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1621" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1622" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td id="new_id-1623" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">2,504,140</td> <td id="new_id-1624" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1625" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1626" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1627" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">295,923</td> <td id="new_id-1628" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1629" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1630" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1631" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">2,504,140</td> <td id="new_id-1632" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> </table><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The remainder of our revenues for the three months ended June 30, 2019 are derived from repairs and calibration of $403,365, replacement parts of $81,634, extended warranties of $19,491 and other revenues of $1,909. We do not disaggregate these revenue streams as they are not deemed an important element related to how management operates the business between segments.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In the following table, revenue is disaggregated by geography.</p><br/><table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 10%; margin-left: 10%; width: 80%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1633" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1634" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>For the Three Months </b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Ended </b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>June 30, 2020</b></p> </td> <td id="new_id-1635" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-1636" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1637" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>For the Three Months </b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Ended </b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>June 30, 2019</b></p> </td> <td id="new_id-1638" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 62%;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><font style="text-decoration:underline"><b>Geography </b></font></p> </td> <td id="new_id-1639" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1640" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1641" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1642" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1643" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1644" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1645" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1646" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">United States</p> </td> <td id="new_id-1647" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1648" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1649" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">1,714,599</td> <td id="new_id-1650" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1651" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1652" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1653" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">2,912,737</td> <td id="new_id-1654" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">International</p> </td> <td id="new_id-1655" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1656" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1657" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,224,838</td> <td id="new_id-1658" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1659" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1660" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1661" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">393,725</td> <td id="new_id-1662" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;Total</p> </td> <td id="new_id-1663" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1664" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1665" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">2,939,437</td> <td id="new_id-1666" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1667" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1668" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1669" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">3,306,462</td> <td id="new_id-1670" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> </table><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><font style="text-decoration:underline">New Accounting Pronouncements</font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">In June 2016, the FASB issued ASU No. 2016-13 Financial Instruments -Credit Losses (Topic 326), Measurement of Credit Losses on Financial Statements.&#xa0; The amendment in this update replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses on instruments within its scope, including trade receivables. This update is intended to provide financial statement users with more decision-useful information about the expected credit losses. The effective date of the new standard has been deferred to April 1, 2023. We do not expect the adoption of this standard to have a significant impact on our financial position and results of operations.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">In December 2019, the FASB issued ASU No. 2019-12, Income Taxes - simplifying the accounting for income taxes (Topic 740), which is meant to simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740, Income Taxes.&#xa0; The amendment also improves consistent application and simplify GAAP for other areas of Topic 740 by clarifying&#xa0;and amending existing guidance.&#xa0; This ASU is effective April 1, 2021, and we do not expect the adoption of this standard to have a significant impact on our financial position and results of operations.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">No other recently issued accounting pronouncements had or are expected to have a material impact on the Company&#x2019;s unaudited condensed consolidated financial statements.</p><br/></div> <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; "> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>Basis of Presentation</i></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary to present fairly the financial position of Tel-Instrument Electronics Corp. as of June 30, 2020, the results of operations and changes in stockholders&#x2019; equity (deficit) for the three months ended June 30, 2020 and June 30, 2019, and statements of cash flows for the three months ended June 30, 2020 and June 30, 2019.&#xa0;&#xa0;These results are not necessarily indicative of the results to be expected for the full year.&#xa0;&#xa0;The unaudited condensed consolidated financial statements have been prepared in accordance with the requirements of Form 10-Q and consequently do not include disclosures normally made in an Annual Report on Form 10-K.&#xa0;&#xa0;The March 31, 2020 balance sheet included herein was derived from the audited financial statements included in the Company&#x2019;s Annual Report on Form 10-K as of that date.&#xa0;&#xa0;Accordingly, the unaudited condensed consolidated financial statements included herein should be reviewed in conjunction with the financial statements and notes thereto included in the Company&#x2019;s Annual Report on Form 10-K for the fiscal year ended March 31, 2020, as filed with the United States Securities and Exchange Commission (the &#x201c;SEC&#x201d;) on June 29, 2020 (the &#x201c;Annual Report&#x201d;).</p></div> <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; "> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><i>Revenue Recognition</i></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company accounts for revenue recognition in accordance with ASC 606.The core principle of Topic 606 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. The ASU defines a five-step process to achieve the core principal and, in doing so, it is possible more judgement and estimates may be required within the revenue recognition process than are currently in use.&#xa0;</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company generates revenue from designing, manufacturing and selling avionic tests and measurement solutions for the global commercial air transport, general aviation, and government/military aerospace and defense markets. The Company also offers calibration and repair services for a wide range of airborne navigation and communication equipment.&#xa0;</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Under ASU 2014-09 Topic 606, <i>Revenue from Contacts with Customers</i> (&#x201c;ASC 606&#x201d;), the Company recognizes revenue when the customer obtains control of promised goods or services, in an amount that reflects the consideration which is expected to be received in exchange for those goods or services. The Company recognizes revenue following the five-step model prescribed under ASC 606: (i) identify contract(s) with a customer; (ii) identify the performance obligation(s) in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligation(s) in the contract; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><font style="text-decoration:underline">Nature of goods and services</font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The following is a description of the products and services from which the Company generates revenue, as well as the nature, timing of satisfaction of performance obligations, and significant payment terms for each.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><font style="text-decoration:underline"><i>Test Units/Sets </i></font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company develops and manufactures unit sets to test navigation and communication equipment, such as ramp testers and bench testers for equipment installed in aircraft. The Company recognizes revenue when the customer obtains control of the Company&#x2019;s product based on the contractual shipping terms of the contract, which is usually at the time of shipment. Revenue on products are presented gross because the Company is primarily responsible for fulfilling the promise to provide the product, is responsible to ensure that the product is produced in accordance with the related supply agreement, and bears the risk of loss while the inventory is in-transit. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring products to the customer.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price based on the estimated relative standalone selling prices of the promised products or services underlying each performance obligation. The Company determines&#xa0;stand-alone selling prices based on the price at which the performance obligation is sold separately. If the stand-alone selling price is not observable through past transactions, the Company estimates the standalone selling price taking into account available information such as market conditions and internally approved pricing guidelines related to the performance obligations.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">When determining the transaction price of a contract, an adjustment is made if payment from the customer occurs either significantly before or significantly after performance, resulting in a significant financing component. Applying the practical expedient in paragraph 606-10-32-18, the Company does not assess whether a significant financing component exists if the period between when the Company performs its obligations under the contract and when the customer pays is one year or less. None of the Company&#x2019;s contracts contained a significant financing component as of June 30, 2020.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><font style="text-decoration:underline"><i>Replacement Parts </i></font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company offers replacement parts for test equipment, ramp testers, and bench testers. Similar to the sale of test units, the control of the product transfers at a point of time and therefore, revenue is recognized at the point in time when the obligation to the customer has been fulfilled.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><font style="text-decoration:underline"><i>Extended Warranties</i></font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The extended warranties sold by the Company provide a level of assurance beyond the coverage for defects that existed at the time of a sale or against certain types of covered damage with coverage terms generally ranging from 5 to 7 years. Amounts received for warranties are recorded as deferred revenue and recognized as revenue ratably over the respective term of the agreements. As of June 30, 2020, approximately $391,414 is expected to be recognized from remaining performance obligations for extended warranties as compared to $413,554 at March 31, 2020. &#xa0;For the three months ended June 30, 2020, the Company recognized revenue of $22,140 from amounts that were included in Deferred Revenue as compared to $19,491 for the three months ended June 30, 2019.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The following table provides a summary of the changes in deferred revenues for the three months ended June 30, 2020:</p><br/><table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 10%; margin-left: 10%; width: 80%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 81%;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:4.5pt;">Deferred revenues at April 1, 2020</p> </td> <td id="new_id-1551" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1552" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1553" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">413,554</td> <td id="new_id-1554" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Additional extended warranties</p> </td> <td id="new_id-1555" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1556" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1557" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-1558" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Revenue recognized for the three months ended June 30, 2020</p> </td> <td id="new_id-1559" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1560" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1561" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(22,140</td> <td id="new_id-1562" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">)</p> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Deferred revenues at June 30, 2020</p> </td> <td id="new_id-1563" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1564" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1565" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">391,414</td> <td id="new_id-1566" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> </table><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><font style="text-decoration:underline"><i>Other Deferred Revenues</i></font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company sometimes receives payments in advance of shipment. These amounts are classified as other deferred revenues. For the periods ended June 30, 2020 and March 31, 2020, the Company has other deferred revenues of $10,059 and $58,746, respectively.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><font style="text-decoration:underline"><i>Repair and Calibration Services </i></font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company offers repair and calibration services for units that are returned for annual calibrations and/or for repairs after the warranty period has expired. The Company repairs and calibrates a wide range of airborne navigation and communication equipment. Revenue is recognized at the time the repaired or calibrated unit is shipped back to the customer, as it is at this time that the work is completed.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><font style="text-decoration:underline"><i>Other</i></font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The majority of the Company&#x2019;s revenues are from contracts with the U.S. government, airlines, aircraft manufacturers, such as Boeing and Lockheed Martin, domestic distributors, international distributors for sales to military and commercial customers, and other commercial customers. The contracts with the U.S. government typically are subject to the Federal Acquisition Regulation (&#x201c;FAR&#x201d;) which provides guidance on the types of costs that are allowable in establishing prices for goods and services provided under U.S. government contracts.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Payment terms and conditions vary by contract, although terms generally include a requirement of payment within a range from&#xa0;30&#xa0;to&#xa0;60&#xa0;days, or in certain cases, up-front deposits. In circumstances where the timing of&#xa0;revenue&#xa0;recognition&#xa0;differs from the timing of invoicing, the Company has determined that the Company's contracts generally do not include a significant financing component. Payments received prior to the delivery of units or services performed are recorded as deferred revenues. Taxes collected from customers, which are subsequently remitted to governmental authorities, are excluded from sales. The Company applied the practical expedient to account for shipping and handling activities as fulfillment cost rather than as a separate performance obligation. Shipping and handling costs charged to customers are classified as sales, and the shipping and handling costs incurred are included in cost of sales.<b>&#xa0;</b></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">All sales are denominated in U.S. dollars.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company excludes from revenues all taxes assessed by a governmental authority that are imposed on the sale of its products and collected from customers.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company chose to apply the available practical expedient as commission eligible sales orders are fulfilled within less than one year and commissions are generally paid by the Company within 30 days of the related sales order fulfillment.&#xa0;Accordingly, management has determined that no change in accounting for costs to obtain a contract will be required for the Company to conform to ASC 606.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><font style="text-decoration:underline"><i>Disaggregation of revenue</i></font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">In the following tables, revenue is disaggregated by revenue category.</p><br/><table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 10%; margin-left: 10%; width: 80%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1567" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="6" id="new_id-1568" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>For the Three Months Ended </b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>June 30, 2020</b></p> </td> <td id="new_id-1569" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1570" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1571" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Commercial</b></p> </td> <td id="new_id-1572" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-1573" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1574" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Government</b></p> </td> <td id="new_id-1575" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 62%;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><font style="text-decoration:underline"><b>Sales Distribution </b></font></p> </td> <td id="new_id-1576" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1577" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1578" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1579" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1580" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1581" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1582" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1583" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Test Units</p> </td> <td id="new_id-1584" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1585" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td id="new_id-1586" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">58,573</td> <td id="new_id-1587" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1588" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1589" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td id="new_id-1590" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">2,563,277</td> <td id="new_id-1591" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1592" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1593" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1594" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">58,573</td> <td id="new_id-1595" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1596" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1597" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1598" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">2,563,277</td> <td id="new_id-1599" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> </table><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The remainder of our revenues for the three months ended June 30, 2020 are derived from repairs and calibration of $277,898, replacement parts of $16,070, extended warranties of $22,140 and other revenues of $1,479. We do not disaggregate these revenue streams as they are not deemed an important element related to how management operates the business between segments.</p><br/><table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 10%; margin-left: 10%; width: 80%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1600" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="6" id="new_id-1601" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>For the Three Months Ended </b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>June 30, 2019</b></p> </td> <td id="new_id-1602" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1603" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1604" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Commercial</b></p> </td> <td id="new_id-1605" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-1606" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1607" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Government</b></p> </td> <td id="new_id-1608" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 62%;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><font style="text-decoration:underline"><b>Sales Distribution </b></font></p> </td> <td id="new_id-1609" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1610" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1611" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1612" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1613" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1614" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1615" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1616" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Test Units</p> </td> <td id="new_id-1617" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1618" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td id="new_id-1619" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">295,923</td> <td id="new_id-1620" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1621" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1622" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td id="new_id-1623" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">2,504,140</td> <td id="new_id-1624" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1625" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1626" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1627" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">295,923</td> <td id="new_id-1628" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1629" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1630" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1631" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">2,504,140</td> <td id="new_id-1632" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> </table><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The remainder of our revenues for the three months ended June 30, 2019 are derived from repairs and calibration of $403,365, replacement parts of $81,634, extended warranties of $19,491 and other revenues of $1,909. We do not disaggregate these revenue streams as they are not deemed an important element related to how management operates the business between segments.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In the following table, revenue is disaggregated by geography.</p><br/><table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 10%; margin-left: 10%; width: 80%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1633" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1634" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>For the Three Months </b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Ended </b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>June 30, 2020</b></p> </td> <td id="new_id-1635" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-1636" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1637" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>For the Three Months </b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Ended </b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>June 30, 2019</b></p> </td> <td id="new_id-1638" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 62%;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><font style="text-decoration:underline"><b>Geography </b></font></p> </td> <td id="new_id-1639" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1640" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1641" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1642" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1643" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1644" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1645" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1646" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">United States</p> </td> <td id="new_id-1647" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1648" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1649" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">1,714,599</td> <td id="new_id-1650" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1651" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1652" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1653" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">2,912,737</td> <td id="new_id-1654" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">International</p> </td> <td id="new_id-1655" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1656" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1657" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,224,838</td> <td id="new_id-1658" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1659" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1660" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1661" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">393,725</td> <td id="new_id-1662" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;Total</p> </td> <td id="new_id-1663" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1664" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1665" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">2,939,437</td> <td id="new_id-1666" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1667" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1668" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1669" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">3,306,462</td> <td id="new_id-1670" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> </table></div> The extended warranties sold by the Company provide a level of assurance beyond the coverage for defects that existed at the time of a sale or against certain types of covered damage with coverage terms generally ranging from 5 to 7 years. 391414 413554 22140 19491 10059 58746 277898 16070 22140 1479 403365 81634 19491 1909 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; "> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><font style="text-decoration:underline">New Accounting Pronouncements</font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">In June 2016, the FASB issued ASU No. 2016-13 Financial Instruments -Credit Losses (Topic 326), Measurement of Credit Losses on Financial Statements.&#xa0; The amendment in this update replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses on instruments within its scope, including trade receivables. This update is intended to provide financial statement users with more decision-useful information about the expected credit losses. The effective date of the new standard has been deferred to April 1, 2023. We do not expect the adoption of this standard to have a significant impact on our financial position and results of operations.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">In December 2019, the FASB issued ASU No. 2019-12, Income Taxes - simplifying the accounting for income taxes (Topic 740), which is meant to simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740, Income Taxes.&#xa0; The amendment also improves consistent application and simplify GAAP for other areas of Topic 740 by clarifying&#xa0;and amending existing guidance.&#xa0; This ASU is effective April 1, 2021, and we do not expect the adoption of this standard to have a significant impact on our financial position and results of operations.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">No other recently issued accounting pronouncements had or are expected to have a material impact on the Company&#x2019;s unaudited condensed consolidated financial statements.</p></div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; "> <div>The following table provides a summary of the changes in deferred revenues for the three months ended June 30, 2020:</div><br/><br/><table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 10%; margin-left: 10%; width: 80%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 81%;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:4.5pt;">Deferred revenues at April 1, 2020</p> </td> <td id="new_id-1551" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1552" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1553" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">413,554</td> <td id="new_id-1554" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Additional extended warranties</p> </td> <td id="new_id-1555" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1556" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1557" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-1558" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Revenue recognized for the three months ended June 30, 2020</p> </td> <td id="new_id-1559" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1560" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1561" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(22,140</td> <td id="new_id-1562" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">)</p> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Deferred revenues at June 30, 2020</p> </td> <td id="new_id-1563" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1564" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1565" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">391,414</td> <td id="new_id-1566" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> </table></div> 413554 0 22140 391414 <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; "> <div>In the following tables, revenue is disaggregated by revenue category.</div><br/><br/><table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 10%; margin-left: 10%; width: 80%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1567" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="6" id="new_id-1568" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>For the Three Months Ended </b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>June 30, 2020</b></p> </td> <td id="new_id-1569" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1570" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1571" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Commercial</b></p> </td> <td id="new_id-1572" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-1573" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1574" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Government</b></p> </td> <td id="new_id-1575" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 62%;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><font style="text-decoration:underline"><b>Sales Distribution </b></font></p> </td> <td id="new_id-1576" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1577" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1578" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1579" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1580" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1581" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1582" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1583" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Test Units</p> </td> <td id="new_id-1584" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1585" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td id="new_id-1586" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">58,573</td> <td id="new_id-1587" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1588" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1589" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td id="new_id-1590" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">2,563,277</td> <td id="new_id-1591" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1592" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1593" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1594" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">58,573</td> <td id="new_id-1595" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1596" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1597" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1598" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">2,563,277</td> <td id="new_id-1599" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> </table><table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 10%; margin-left: 10%; width: 80%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1600" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="6" id="new_id-1601" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>For the Three Months Ended </b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>June 30, 2019</b></p> </td> <td id="new_id-1602" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1603" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1604" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Commercial</b></p> </td> <td id="new_id-1605" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-1606" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1607" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Government</b></p> </td> <td id="new_id-1608" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 62%;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><font style="text-decoration:underline"><b>Sales Distribution </b></font></p> </td> <td id="new_id-1609" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1610" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1611" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1612" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1613" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1614" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1615" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1616" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Test Units</p> </td> <td id="new_id-1617" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1618" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td id="new_id-1619" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">295,923</td> <td id="new_id-1620" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1621" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1622" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td> <td id="new_id-1623" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">2,504,140</td> <td id="new_id-1624" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1625" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1626" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1627" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">295,923</td> <td id="new_id-1628" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1629" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1630" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1631" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">2,504,140</td> <td id="new_id-1632" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> </table></div> 58573 2563277 295923 2504140 <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; "> <div>In the following table, revenue is disaggregated by geography.</div><br/><br/><table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 10%; margin-left: 10%; width: 80%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1633" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1634" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>For the Three Months </b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Ended </b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>June 30, 2020</b></p> </td> <td id="new_id-1635" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-1636" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1637" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>For the Three Months </b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Ended </b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>June 30, 2019</b></p> </td> <td id="new_id-1638" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 62%;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><font style="text-decoration:underline"><b>Geography </b></font></p> </td> <td id="new_id-1639" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1640" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1641" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1642" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1643" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1644" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1645" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1646" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">United States</p> </td> <td id="new_id-1647" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1648" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1649" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">1,714,599</td> <td id="new_id-1650" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1651" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1652" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1653" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">2,912,737</td> <td id="new_id-1654" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">International</p> </td> <td id="new_id-1655" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1656" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1657" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,224,838</td> <td id="new_id-1658" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1659" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1660" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1661" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">393,725</td> <td id="new_id-1662" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;Total</p> </td> <td id="new_id-1663" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1664" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1665" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">2,939,437</td> <td id="new_id-1666" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1667" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1668" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1669" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">3,306,462</td> <td id="new_id-1670" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> </table></div> 1714599 2912737 1224838 393725 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; "> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><font style="text-decoration:underline">Note 3 &#x2013; Accounts Receivable, net</font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The following table sets forth the components of accounts receivable:</p><br/><table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 10%; margin-left: 10%; width: 80%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1671" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1672" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>June 30,</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>2020</b></p> </td> <td id="new_id-1673" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-1674" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1675" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>March 31,</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>2020</b></p> </td> <td id="new_id-1676" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 62%;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Government</p> </td> <td id="new_id-1677" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1678" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1679" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">1,473,831</td> <td id="new_id-1680" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1681" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1682" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1683" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">1,095,131</td> <td id="new_id-1684" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Commercial</p> </td> <td id="new_id-1685" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1686" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1687" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">342,966</td> <td id="new_id-1688" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1689" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1690" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1691" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">324,013</td> <td id="new_id-1692" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Less: Allowance for doubtful accounts</p> </td> <td id="new_id-1693" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1694" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1695" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(7,500</td> <td id="new_id-1696" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> <td id="new_id-1697" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1698" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1699" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(7,500</td> <td id="new_id-1700" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1701" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1702" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1703" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">1,809,297</td> <td id="new_id-1704" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1705" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1706" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1707" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">1,411,644</td> <td id="new_id-1708" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> </table><br/></div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; "> <div>The following table sets forth the components of accounts receivable:</div><br/><br/><table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 10%; margin-left: 10%; width: 80%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1671" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1672" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>June 30,</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>2020</b></p> </td> <td id="new_id-1673" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-1674" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1675" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>March 31,</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>2020</b></p> </td> <td id="new_id-1676" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 62%;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Government</p> </td> <td id="new_id-1677" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1678" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1679" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">1,473,831</td> <td id="new_id-1680" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1681" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1682" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1683" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">1,095,131</td> <td id="new_id-1684" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Commercial</p> </td> <td id="new_id-1685" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1686" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1687" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">342,966</td> <td id="new_id-1688" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1689" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1690" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1691" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">324,013</td> <td id="new_id-1692" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Less: Allowance for doubtful accounts</p> </td> <td id="new_id-1693" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1694" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1695" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(7,500</td> <td id="new_id-1696" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> <td id="new_id-1697" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1698" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1699" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(7,500</td> <td id="new_id-1700" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1701" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1702" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1703" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">1,809,297</td> <td id="new_id-1704" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1705" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1706" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1707" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">1,411,644</td> <td id="new_id-1708" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> </table></div> 1473831 1095131 342966 324013 7500 7500 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; "> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><font style="text-decoration:underline">Note 4 &#x2013; Restricted Cash to Support Appeal Bond</font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">In January 2018, the Company transferred $2,000,000 to a restricted cash account to secure a letter of credit which was used for collateral for the appeal bond (See Note 12).</p><br/></div> <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; "> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><font style="text-decoration:underline">Note 5 &#x2013; Inventories, net</font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Inventories consist of:</p><br/><table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 10%; margin-left: 10%; width: 80%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1709" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1710" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>June 30,</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>2020</b></p> </td> <td id="new_id-1711" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-1712" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1713" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>March 31,</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>2020</b></p> </td> <td id="new_id-1714" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> </tr> <tr style="vertical-align: bottom;"> <td>&#xa0;</td> <td id="new_id-1715">&#xa0;</td> <td id="new_id-1716">&#xa0;</td> <td id="new_id-1717">&#xa0;</td> <td id="new_id-1718">&#xa0;</td> <td id="new_id-1719">&#xa0;</td> <td id="new_id-1720">&#xa0;</td> <td id="new_id-1721">&#xa0;</td> <td id="new_id-1722">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 62%;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Purchased parts</p> </td> <td id="new_id-1723" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1724" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1725" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">2,700,907</td> <td id="new_id-1726" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1727" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1728" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1729" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">3,011,072</td> <td id="new_id-1730" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Work-in-process</p> </td> <td id="new_id-1731" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1732" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1733" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">1,281,839</td> <td id="new_id-1734" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1735" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1736" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1737" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">597,166</td> <td id="new_id-1738" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Finished goods</p> </td> <td id="new_id-1739" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1740" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1741" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">61,137</td> <td id="new_id-1742" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1743" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1744" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1745" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">34,441</td> <td id="new_id-1746" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Less: Inventory reserve</p> </td> <td id="new_id-1747" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1748" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1749" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(560,000</td> <td id="new_id-1750" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> <td id="new_id-1751" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1752" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1753" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(550,000</td> <td id="new_id-1754" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1755" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1756" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1757" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">3,483,883</td> <td id="new_id-1758" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1759" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1760" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1761" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">3,092,679</td> <td id="new_id-1762" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> </table><br/></div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; "> <div>Inventories consist of:</div><br/><br/><table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 10%; margin-left: 10%; width: 80%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1709" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1710" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>June 30,</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>2020</b></p> </td> <td id="new_id-1711" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-1712" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1713" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>March 31,</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>2020</b></p> </td> <td id="new_id-1714" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> </tr> <tr style="vertical-align: bottom;"> <td>&#xa0;</td> <td id="new_id-1715">&#xa0;</td> <td id="new_id-1716">&#xa0;</td> <td id="new_id-1717">&#xa0;</td> <td id="new_id-1718">&#xa0;</td> <td id="new_id-1719">&#xa0;</td> <td id="new_id-1720">&#xa0;</td> <td id="new_id-1721">&#xa0;</td> <td id="new_id-1722">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 62%;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Purchased parts</p> </td> <td id="new_id-1723" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1724" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1725" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">2,700,907</td> <td id="new_id-1726" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1727" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1728" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1729" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">3,011,072</td> <td id="new_id-1730" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Work-in-process</p> </td> <td id="new_id-1731" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1732" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1733" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">1,281,839</td> <td id="new_id-1734" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1735" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1736" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1737" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">597,166</td> <td id="new_id-1738" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Finished goods</p> </td> <td id="new_id-1739" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1740" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1741" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">61,137</td> <td id="new_id-1742" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1743" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1744" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1745" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">34,441</td> <td id="new_id-1746" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Less: Inventory reserve</p> </td> <td id="new_id-1747" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1748" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1749" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(560,000</td> <td id="new_id-1750" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> <td id="new_id-1751" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1752" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1753" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(550,000</td> <td id="new_id-1754" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1755" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1756" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1757" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">3,483,883</td> <td id="new_id-1758" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1759" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1760" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-1761" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">3,092,679</td> <td id="new_id-1762" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> </table></div> 2700907 3011072 1281839 597166 61137 34441 560000 550000 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; "> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><font style="text-decoration:underline">Note 6 &#x2013; Net Income per Share</font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Net income per share has been computed according to Financial Accounting Standards Board (&#x201c;FASB&#x201d;) Accounting Standards Codification (&#x201c;ASC 260&#x201d;), &#x201c;Earnings per Share,&#x201d; which requires a dual presentation of basic and diluted income per share (&#x201c;EPS&#x201d;). Basic EPS represents net income divided by the weighted average number of common shares outstanding during a reporting period. Diluted EPS reflects the potential dilution that could occur if securities, including preferred stock, warrants and options, were converted into common stock. The dilutive effect of outstanding warrants and options is reflected in earnings per share by use of the treasury stock method. The dilutive effect of preferred stock is reflected in earnings per share by use of the if-converted method. In applying the treasury stock method for stock-based compensation arrangements, the assumed proceeds are computed as the sum of the amount the employee must pay upon exercise and the amounts of average unrecognized compensation.</p><br/><table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 10%; margin-left: 10%; width: 80%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1763" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1764" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Three Months Ended</b></p> </td> <td id="new_id-1765" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1766" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1767" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Three Months Ended</b></p> </td> <td id="new_id-1768" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1769" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1770" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>June&#xa0;30, 2020</b></p> </td> <td id="new_id-1771" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-1772" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1773" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>June 30, 2019</b></p> </td> <td id="new_id-1774" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 62%;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Basic net income per share computation:</b></p> </td> <td id="new_id-1775" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1776" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1777" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1778" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1779" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1780" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1781" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1782" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;&#xa0;Net income</p> </td> <td id="new_id-1783" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1784" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1785" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">110,980</td> <td id="new_id-1786" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1787" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1788" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1789" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">257,776</td> <td id="new_id-1790" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;&#xa0;Less: Preferred dividends</p> </td> <td id="new_id-1791" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1792" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1793" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(80,000</td> <td id="new_id-1794" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> <td id="new_id-1795" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1796" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1797" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(80,000</td> <td id="new_id-1798" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Net income attributable to common shareholders</p> </td> <td id="new_id-1799" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1800" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1801" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">30,980</td> <td id="new_id-1802" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1803" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1804" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1805" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">177,776</td> <td id="new_id-1806" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;&#xa0;Weighted-average common shares outstanding</p> </td> <td id="new_id-1807" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1808" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1809" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">3,255,887</td> <td id="new_id-1810" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1811" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1812" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1813" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">3,255,887</td> <td id="new_id-1814" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;&#xa0;Basic net income per share</p> </td> <td id="new_id-1815" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1816" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1817" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">0.01</td> <td id="new_id-1818" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1819" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1820" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1821" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">0.05</td> <td id="new_id-1822" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Diluted net income per share computation</b></p> </td> <td id="new_id-1823" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1824" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1825" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1826" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1827" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1828" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1829" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1830" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;&#xa0;Net income attributable to common shareholders</p> </td> <td id="new_id-1831" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1832" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1833" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">30,980</td> <td id="new_id-1834" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1835" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1836" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1837" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">177,776</td> <td id="new_id-1838" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;&#xa0;&#xa0;Add: Preferred dividends</p> </td> <td id="new_id-1839" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1840" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1841" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td> <td id="new_id-1842" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1843" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1844" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1845" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">80,000</td> <td id="new_id-1846" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;&#xa0;Diluted income&#xa0;attributable to common shareholders</p> </td> <td id="new_id-1847" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1848" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1849" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">30,980</td> <td id="new_id-1850" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1851" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1852" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1853" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">257,776</td> <td id="new_id-1854" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;&#xa0;Weighted-average common shares outstanding</p> </td> <td id="new_id-1855" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1856" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1857" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">3,255,887</td> <td id="new_id-1858" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1859" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1860" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1861" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">3,255,887</td> <td id="new_id-1862" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;&#xa0;Incremental shares attributable to the assumed conversion of&#xa0;</p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;preferred stock, and exercise of outstanding stock options and</p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;warrants</p> </td> <td id="new_id-1863" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1864" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1865" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td> <td id="new_id-1866" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1867" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1868" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1869" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,659,778</td> <td id="new_id-1870" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;&#xa0;Total adjusted weighted-average shares</p> </td> <td id="new_id-1871" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1872" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1873" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">3,255,887</td> <td id="new_id-1874" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1875" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1876" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1877" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">4,915,665</td> <td id="new_id-1878" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;Diluted net&#xa0;income per share</p> </td> <td id="new_id-1879" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1880" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1881" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">0.01</td> <td id="new_id-1882" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1883" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1884" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1885" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">0.04</td> <td id="new_id-1886" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> </table><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The following table summarizes securities that, if exercised, would have an anti-dilutive effect on earnings per share for the three months ended:</p><br/><table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 10%; margin-left: 10%; width: 80%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1887" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1888" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>June 30, 2020</b></p> </td> <td id="new_id-1889" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-1890" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1891" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>June 30, 2019</b></p> </td> <td id="new_id-1892" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 62%;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Convertible preferred stock</p> </td> <td id="new_id-1893" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1894" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1895" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">1,779,778</td> <td id="new_id-1896" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1897" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1898" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1899" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-1900" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Stock options</p> </td> <td id="new_id-1901" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1902" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1903" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">83,500</td> <td id="new_id-1904" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1905" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1906" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1907" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">118,500</td> <td id="new_id-1908" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Warrants</p> </td> <td id="new_id-1909" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1910" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1911" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td> <td id="new_id-1912" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1913" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1914" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1915" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">50,000</td> <td id="new_id-1916" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1917" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1918" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1919" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">1,863,278</td> <td id="new_id-1920" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1921" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1922" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1923" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">168,500</td> <td id="new_id-1924" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> </table><br/></div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; "> <div>Net income per share has been computed according to Financial Accounting Standards Board (&#x201c;FASB&#x201d;) Accounting Standards Codification (&#x201c;ASC 260&#x201d;), &#x201c;Earnings per Share,&#x201d; which requires a dual presentation of basic and diluted income per share (&#x201c;EPS&#x201d;). Basic EPS represents net income divided by the weighted average number of common shares outstanding during a reporting period. Diluted EPS reflects the potential dilution that could occur if securities, including preferred stock, warrants and options, were converted into common stock. The dilutive effect of outstanding warrants and options is reflected in earnings per share by use of the treasury stock method. The dilutive effect of preferred stock is reflected in earnings per share by use of the if-converted method. In applying the treasury stock method for stock-based compensation arrangements, the assumed proceeds are computed as the sum of the amount the employee must pay upon exercise and the amounts of average unrecognized compensation.</div><br/><br/><table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 10%; margin-left: 10%; width: 80%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1763" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1764" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Three Months Ended</b></p> </td> <td id="new_id-1765" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1766" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1767" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Three Months Ended</b></p> </td> <td id="new_id-1768" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1769" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1770" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>June&#xa0;30, 2020</b></p> </td> <td id="new_id-1771" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-1772" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1773" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>June 30, 2019</b></p> </td> <td id="new_id-1774" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 62%;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Basic net income per share computation:</b></p> </td> <td id="new_id-1775" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1776" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1777" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1778" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1779" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1780" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1781" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1782" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;&#xa0;Net income</p> </td> <td id="new_id-1783" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1784" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1785" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">110,980</td> <td id="new_id-1786" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1787" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1788" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1789" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">257,776</td> <td id="new_id-1790" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;&#xa0;Less: Preferred dividends</p> </td> <td id="new_id-1791" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1792" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1793" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(80,000</td> <td id="new_id-1794" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> <td id="new_id-1795" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1796" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1797" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(80,000</td> <td id="new_id-1798" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Net income attributable to common shareholders</p> </td> <td id="new_id-1799" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1800" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1801" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">30,980</td> <td id="new_id-1802" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1803" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1804" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1805" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">177,776</td> <td id="new_id-1806" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;&#xa0;Weighted-average common shares outstanding</p> </td> <td id="new_id-1807" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1808" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1809" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">3,255,887</td> <td id="new_id-1810" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1811" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1812" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1813" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">3,255,887</td> <td id="new_id-1814" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;&#xa0;Basic net income per share</p> </td> <td id="new_id-1815" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1816" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1817" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">0.01</td> <td id="new_id-1818" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1819" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1820" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1821" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">0.05</td> <td id="new_id-1822" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Diluted net income per share computation</b></p> </td> <td id="new_id-1823" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1824" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1825" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1826" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1827" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1828" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1829" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> <td id="new_id-1830" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#xa0;</b></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;&#xa0;Net income attributable to common shareholders</p> </td> <td id="new_id-1831" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1832" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1833" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">30,980</td> <td id="new_id-1834" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1835" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1836" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1837" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">177,776</td> <td id="new_id-1838" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;&#xa0;&#xa0;Add: Preferred dividends</p> </td> <td id="new_id-1839" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1840" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1841" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td> <td id="new_id-1842" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1843" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1844" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1845" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">80,000</td> <td id="new_id-1846" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;&#xa0;Diluted income&#xa0;attributable to common shareholders</p> </td> <td id="new_id-1847" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1848" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1849" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">30,980</td> <td id="new_id-1850" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1851" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1852" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1853" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">257,776</td> <td id="new_id-1854" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;&#xa0;Weighted-average common shares outstanding</p> </td> <td id="new_id-1855" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1856" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1857" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">3,255,887</td> <td id="new_id-1858" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1859" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1860" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1861" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">3,255,887</td> <td id="new_id-1862" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;&#xa0;Incremental shares attributable to the assumed conversion of&#xa0;</p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;preferred stock, and exercise of outstanding stock options and</p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;warrants</p> </td> <td id="new_id-1863" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1864" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1865" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td> <td id="new_id-1866" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1867" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1868" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1869" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,659,778</td> <td id="new_id-1870" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;&#xa0;Total adjusted weighted-average shares</p> </td> <td id="new_id-1871" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1872" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1873" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">3,255,887</td> <td id="new_id-1874" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1875" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1876" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1877" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">4,915,665</td> <td id="new_id-1878" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#xa0;Diluted net&#xa0;income per share</p> </td> <td id="new_id-1879" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1880" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1881" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">0.01</td> <td id="new_id-1882" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1883" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1884" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1885" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">0.04</td> <td id="new_id-1886" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> </table></div> 80000 80000 30980 257776 0 1659778 <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; "> <div>The following table summarizes securities that, if exercised, would have an anti-dilutive effect on earnings per share for the three months ended:</div><br/><br/><table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 10%; margin-left: 10%; width: 80%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1887" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1888" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>June 30, 2020</b></p> </td> <td id="new_id-1889" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-1890" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1891" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>June 30, 2019</b></p> </td> <td id="new_id-1892" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 62%;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Convertible preferred stock</p> </td> <td id="new_id-1893" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1894" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1895" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">1,779,778</td> <td id="new_id-1896" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1897" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1898" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1899" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-1900" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Stock options</p> </td> <td id="new_id-1901" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1902" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1903" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">83,500</td> <td id="new_id-1904" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1905" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1906" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1907" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">118,500</td> <td id="new_id-1908" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Warrants</p> </td> <td id="new_id-1909" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1910" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1911" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td> <td id="new_id-1912" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1913" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1914" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1915" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">50,000</td> <td id="new_id-1916" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1917" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1918" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1919" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">1,863,278</td> <td id="new_id-1920" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1921" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1922" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1923" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">168,500</td> <td id="new_id-1924" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> </table></div> 1779778 0 83500 118500 0 50000 1863278 168500 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; "> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><font style="text-decoration:underline">Note 7 &#x2013;&#xa0;Line of Credit</font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">In March&#xa0;2020, Bank of America extended the line of credit to January 31, 2021. The new agreement includes a line of credit up to $690,000. Monthly payments are interest only.&#xa0;The line is collateralized by substantially all of the assets of the Company.&#xa0;</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">As of June 30, 2020 and March 31, 2020, the outstanding balances were $680,000 and $680,000, respectively.&#xa0; As of June 30, 2020 the remaining availability under this line is $10,000. The interest rate at June 30, 2020 was 3.94%.</p><br/></div> 690000 The line is collateralized by substantially all of the assets of the Company. 680000 680000 10000 0.0394 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; "> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><font style="text-decoration:underline">Note 8 &#x2013;&#xa0;SBA PPP Loan</font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">On March 27, 2020, President Trump signed the Coronavirus Aid, Relief and Economic Security (the &#x201c;CARES Act&#x201d;), which, among other things, outlines the provisions of the Paycheck Protection Program (the &#x201c;PPP&#x201d;). The Company determined that it met the criteria to be eligible to obtain a loan under the PPP because, among other reasons, in light of the COVID-19 outbreak and the uncertainty of economic conditions related thereto, the loan was considered necessary to support the Company&#x2019;s ongoing operations and retain all its employees. In addition, President Trump signed into law the Paycheck Protection Program and Health Care Enhancement Act on April 24, 2020, which increased funding provided by the CARES Act. On May 4, 2020 the Company issued&#xa0;a promissory note (the &#x201c;Note&#x201d;) to&#xa0;Bank of America in the principal aggregate amount of $722,577 (the &#x201c;PPP Loan&#x201d;) pursuant to the PPP under the Coronavirus Aid, Relief, and Economic Security Act (the &#x201c;CARES Act&#x201d;). The funds were deposited into the Company&#x2019;s bank account on May 4, 2020. On June 5, 2020 the Paycheck Protection Program Flexibility Act was signed into law and extended the program until December 31, 2020.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Under the terms of the CARES Act, PPP loan recipients can apply for and be granted forgiveness for all or a portion of loan granted under the program. Such forgiveness will be determined, subject to limitations, based on the use of loan proceeds for payment of payroll costs and any payments of mortgage interest, rent, and utilities. While we are believe that we met the conditions to obtain forgiveness for a large portion of the PPP loan, no assurance is provided that the Company will in fact obtain forgiveness of the PPP Loan in whole or in part. The PPP Loan has a two-year term and bears interest at a rate of 1% per annum. Monthly principal and interest payments are deferred for six months after the date of disbursement. The PPP Loan may be prepaid at any time prior to maturity with no prepayment penalties. Based on the June 5, 2020 Paycheck Protection Program Flexibility Act, certain changes will need to be made to the original Note, based on the new law.</p><br/></div> 722577 0.01 Monthly principal and interest payments are deferred for six months after the date of disbursement. <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; "> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><font style="text-decoration:underline">Note 9 &#x2013; Segment Information</font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">In accordance with FASB ASC 280, &#x201c;Disclosures about Segments of an Enterprise and related information&#x201d;, the Company determined it has two reportable segments - avionics government and avionics commercial. There are no inter-segment revenues.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company is organized primarily on the basis of its avionics products.&#xa0;&#xa0;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.&#xa0;&#xa0;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&#x2019;s products and designs cross segments.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Management evaluates the performance of its segments and allocates resources to them based on gross margin. The Company&#x2019;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.&#xa0;&#xa0;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 months ending June 30, 2020 and 2019:</p><br/><table border="0" cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"> <tr style="vertical-align: bottom;"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 40%; border-bottom: thin solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Three Months Ended</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>June 30, 2020</b></p> </td> <td id="new_id-1925" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1926" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Avionics</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Government</b></p> </td> <td id="new_id-1927" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-1928" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1929" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Avionics</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Commercial</b></p> </td> <td id="new_id-1930" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-1931" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1932" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Avionics</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Total</b></p> </td> <td id="new_id-1933" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-1934" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1935" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Corporate</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Items</b></p> </td> <td id="new_id-1936" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-1937" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1938" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Total</b></p> </td> <td id="new_id-1939" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Net sales</p> </td> <td id="new_id-1940" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1941" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1942" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">2,563,276</td> <td id="new_id-1943" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1944" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1945" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1946" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">376,161</td> <td id="new_id-1947" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1948" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1949" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1950" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">2,939,437</td> <td id="new_id-1951" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1952" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1953" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1954" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-1955" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1956" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1957" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1958" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">2,939,437</td> <td id="new_id-1959" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Cost of sales</p> </td> <td id="new_id-1960" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1961" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1962" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,182,282</td> <td id="new_id-1963" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1964" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1965" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1966" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">252,544</td> <td id="new_id-1967" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1968" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1969" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1970" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,434,826</td> <td id="new_id-1971" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1972" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1973" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1974" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td> <td id="new_id-1975" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1976" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1977" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1978" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,434,826</td> <td id="new_id-1979" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Gross margin</p> </td> <td id="new_id-1980" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1981" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1982" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,380,994</td> <td id="new_id-1983" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1984" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1985" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1986" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">123,617</td> <td id="new_id-1987" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1988" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1989" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1990" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,504,611</td> <td id="new_id-1991" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1992" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1993" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1994" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td> <td id="new_id-1995" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1996" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1997" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1998" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,504,611</td> <td id="new_id-1999" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td>&#xa0;</td> <td id="new_id-2000">&#xa0;</td> <td id="new_id-2001">&#xa0;</td> <td id="new_id-2002">&#xa0;</td> <td id="new_id-2003">&#xa0;</td> <td id="new_id-2004">&#xa0;</td> <td id="new_id-2005">&#xa0;</td> <td id="new_id-2006">&#xa0;</td> <td id="new_id-2007">&#xa0;</td> <td id="new_id-2008">&#xa0;</td> <td id="new_id-2009">&#xa0;</td> <td id="new_id-2010">&#xa0;</td> <td id="new_id-2011">&#xa0;</td> <td id="new_id-2012">&#xa0;</td> <td id="new_id-2013">&#xa0;</td> <td id="new_id-2014">&#xa0;</td> <td id="new_id-2015">&#xa0;</td> <td id="new_id-2016">&#xa0;</td> <td id="new_id-2017">&#xa0;</td> <td id="new_id-2018">&#xa0;</td> <td id="new_id-2019">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Engineering, research, and development</p> </td> <td id="new_id-2020" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2021" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2022" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2023" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2024" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2025" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2026" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2027" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2028" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2029" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2030" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">631,953</td> <td id="new_id-2031" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2032" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2033" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2034" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-2035" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2036" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2037" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2038" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">631,953</td> <td id="new_id-2039" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Selling, general and administrative</p> </td> <td id="new_id-2040" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2041" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2042" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2043" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2044" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2045" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2046" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2047" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2048" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2049" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2050" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">253,838</td> <td id="new_id-2051" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2052" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2053" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2054" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">407,413</td> <td id="new_id-2055" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2056" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2057" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2058" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">661,251</td> <td id="new_id-2059" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Litigation costs</p> </td> <td id="new_id-2060" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2061" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2062" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2063" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2064" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2065" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2066" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2067" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2068" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2069" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2070" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-2071" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2072" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2073" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2074" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">2,696</td> <td id="new_id-2075" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2076" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2077" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2078" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">2,696</td> <td id="new_id-2079" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Interest income</p> </td> <td id="new_id-2080" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2081" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2082" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2083" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2084" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2085" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2086" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2087" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2088" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2089" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2090" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-2091" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2092" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2093" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2094" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">(2,846</td> <td id="new_id-2095" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> <td id="new_id-2096" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2097" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2098" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">(2,846</td> <td id="new_id-2099" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Other income</p> </td> <td id="new_id-2100" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2101" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2102" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2103" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2104" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2105" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2106" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2107" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2108" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2109" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2110" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-2111" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2112" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2113" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2114" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">(13,854</td> <td id="new_id-2115" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> <td id="new_id-2116" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2117" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2118" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">(13,854</td> <td id="new_id-2119" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Interest expense - judgment</p> </td> <td id="new_id-2120" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2121" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2122" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2123" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2124" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2125" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2126" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2127" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2128" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2129" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2130" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-2131" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2132" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2133" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2134" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">75,144</td> <td id="new_id-2135" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2136" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2137" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2138" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">75,144</td> <td id="new_id-2139" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Interest&#xa0;expense</p> </td> <td id="new_id-2140" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2141" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2142" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2143" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2144" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2145" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2146" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2147" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2148" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2149" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2150" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td> <td id="new_id-2151" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2152" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2153" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2154" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">9,780</td> <td id="new_id-2155" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2156" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2157" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2158" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">9,780</td> <td id="new_id-2159" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Total expenses</p> </td> <td id="new_id-2160" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2161" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2162" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2163" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2164" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2165" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2166" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2167" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2168" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2169" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2170" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">885,791</td> <td id="new_id-2171" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2172" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2173" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2174" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">478,333</td> <td id="new_id-2175" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2176" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2177" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2178" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,364,124</td> <td id="new_id-2179" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Income (loss) before income taxes</p> </td> <td id="new_id-2180" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2181" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2182" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2183" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2184" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2185" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2186" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2187" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2188" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2189" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-2190" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">618,820</td> <td id="new_id-2191" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2192" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2193" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-2194" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">(478,333</td> <td id="new_id-2195" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> <td id="new_id-2196" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2197" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-2198" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">140,487</td> <td id="new_id-2199" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> </table><br/><table border="0" cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"> <tr style="vertical-align: bottom;"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 40%; border-bottom: thin solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Three Months Ended</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>June 30, 2019</b></p> </td> <td id="new_id-2200" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-2201" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Avionics</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Government</b></p> </td> <td id="new_id-2202" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-2203" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-2204" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Avionics</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Commercial</b></p> </td> <td id="new_id-2205" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-2206" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-2207" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Avionics</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Total</b></p> </td> <td id="new_id-2208" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-2209" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-2210" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Corporate</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Items</b></p> </td> <td id="new_id-2211" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-2212" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-2213" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Total</b></p> </td> <td id="new_id-2214" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Net sales</p> </td> <td id="new_id-2215" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2216" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-2217" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">2,504,140</td> <td id="new_id-2218" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2219" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2220" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-2221" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">802,322</td> <td id="new_id-2222" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2223" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2224" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-2225" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">3,306,462</td> <td id="new_id-2226" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2227" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2228" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-2229" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-2230" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2231" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2232" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-2233" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">3,306,462</td> <td id="new_id-2234" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Cost of sales</p> </td> <td id="new_id-2235" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2236" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2237" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,242,567</td> <td id="new_id-2238" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2239" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2240" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2241" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">482,291</td> <td id="new_id-2242" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2243" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2244" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2245" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,724,858</td> <td id="new_id-2246" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2247" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2248" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2249" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td> <td id="new_id-2250" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2251" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2252" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2253" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,724,858</td> <td id="new_id-2254" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Gross margin</p> </td> <td id="new_id-2255" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2256" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2257" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,261,573</td> <td id="new_id-2258" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2259" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2260" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2261" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">320,031</td> <td id="new_id-2262" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2263" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2264" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2265" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,581,604</td> <td id="new_id-2266" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2267" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2268" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2269" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td> <td id="new_id-2270" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2271" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2272" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2273" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,581,604</td> <td id="new_id-2274" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td>&#xa0;</td> <td id="new_id-2275">&#xa0;</td> <td id="new_id-2276">&#xa0;</td> <td id="new_id-2277">&#xa0;</td> <td id="new_id-2278">&#xa0;</td> <td id="new_id-2279">&#xa0;</td> <td id="new_id-2280">&#xa0;</td> <td id="new_id-2281">&#xa0;</td> <td id="new_id-2282">&#xa0;</td> <td id="new_id-2283">&#xa0;</td> <td id="new_id-2284">&#xa0;</td> <td id="new_id-2285">&#xa0;</td> <td id="new_id-2286">&#xa0;</td> <td id="new_id-2287">&#xa0;</td> <td id="new_id-2288">&#xa0;</td> <td id="new_id-2289">&#xa0;</td> <td id="new_id-2290">&#xa0;</td> <td id="new_id-2291">&#xa0;</td> <td id="new_id-2292">&#xa0;</td> <td id="new_id-2293">&#xa0;</td> <td id="new_id-2294">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Engineering, research, and development</p> </td> <td id="new_id-2295" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2296" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2297" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2298" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2299" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2300" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2301" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2302" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2303" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2304" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2305" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">525,103</td> <td id="new_id-2306" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2307" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2308" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2309" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-2310" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2311" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2312" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2313" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">525,103</td> <td id="new_id-2314" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Selling, general and administrative</p> </td> <td id="new_id-2315" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2316" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2317" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2318" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2319" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2320" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2321" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2322" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2323" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2324" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2325" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">234,578</td> <td id="new_id-2326" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2327" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2328" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2329" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">377,893</td> <td id="new_id-2330" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2331" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2332" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2333" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">612,471</td> <td id="new_id-2334" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Litigation costs</p> </td> <td id="new_id-2335" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2336" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2337" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2338" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2339" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2340" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2341" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2342" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2343" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2344" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2345" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-2346" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2347" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2348" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2349" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">10,507</td> <td id="new_id-2350" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2351" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2352" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2353" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">10,507</td> <td id="new_id-2354" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Change in fair value of common stock warrants</p> </td> <td id="new_id-2355" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2356" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2357" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2358" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2359" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2360" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2361" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2362" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2363" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2364" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2365" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-2366" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2367" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2368" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2369" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">78,500</td> <td id="new_id-2370" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2371" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2372" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2373" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">78,500</td> <td id="new_id-2374" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Interest income</p> </td> <td id="new_id-2375" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2376" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2377" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2378" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2379" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2380" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2381" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2382" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2383" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2384" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2385" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-2386" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2387" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2388" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2389" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">(1,000</td> <td id="new_id-2390" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> <td id="new_id-2391" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2392" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2393" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">(1,000</td> <td id="new_id-2394" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Interest expense - judgment</p> </td> <td id="new_id-2395" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2396" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2397" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2398" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2399" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2400" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2401" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2402" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2403" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2404" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2405" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-2406" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2407" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2408" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2409" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">80,510</td> <td id="new_id-2410" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2411" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2412" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2413" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">80,510</td> <td id="new_id-2414" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Interest&#xa0;expense</p> </td> <td id="new_id-2415" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2416" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2417" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2418" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2419" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2420" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2421" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2422" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2423" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2424" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2425" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td> <td id="new_id-2426" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2427" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2428" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2429" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">17,737</td> <td id="new_id-2430" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2431" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2432" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2433" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">17,737</td> <td id="new_id-2434" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Total expenses</p> </td> <td id="new_id-2435" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2436" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2437" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2438" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2439" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2440" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2441" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2442" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2443" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2444" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2445" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">759,681</td> <td id="new_id-2446" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2447" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2448" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2449" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">564,147</td> <td id="new_id-2450" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2451" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2452" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2453" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,323,828</td> <td id="new_id-2454" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Income (loss) before income taxes</p> </td> <td id="new_id-2455" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2456" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2457" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2458" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2459" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2460" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2461" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2462" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2463" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2464" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-2465" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">821,923</td> <td id="new_id-2466" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2467" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2468" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-2469" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">(564,147</td> <td id="new_id-2470" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> <td id="new_id-2471" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2472" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-2473" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">257,776</td> <td id="new_id-2474" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> </table><br/></div> 2 <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; "> <div>The tables below present information about reportable segments within the avionics business for the three months ending June 30, 2020 and 2019:</div><br/><br/><table border="0" cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"> <tr style="vertical-align: bottom;"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 40%; border-bottom: thin solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Three Months Ended</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>June 30, 2020</b></p> </td> <td id="new_id-1925" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1926" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Avionics</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Government</b></p> </td> <td id="new_id-1927" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-1928" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1929" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Avionics</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Commercial</b></p> </td> <td id="new_id-1930" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-1931" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1932" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Avionics</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Total</b></p> </td> <td id="new_id-1933" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-1934" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1935" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Corporate</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Items</b></p> </td> <td id="new_id-1936" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-1937" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-1938" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Total</b></p> </td> <td id="new_id-1939" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Net sales</p> </td> <td id="new_id-1940" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1941" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1942" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">2,563,276</td> <td id="new_id-1943" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1944" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1945" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1946" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">376,161</td> <td id="new_id-1947" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1948" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1949" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1950" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">2,939,437</td> <td id="new_id-1951" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1952" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1953" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1954" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-1955" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1956" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1957" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-1958" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">2,939,437</td> <td id="new_id-1959" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Cost of sales</p> </td> <td id="new_id-1960" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1961" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1962" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,182,282</td> <td id="new_id-1963" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1964" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1965" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1966" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">252,544</td> <td id="new_id-1967" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1968" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1969" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1970" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,434,826</td> <td id="new_id-1971" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1972" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1973" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1974" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td> <td id="new_id-1975" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1976" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1977" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1978" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,434,826</td> <td id="new_id-1979" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Gross margin</p> </td> <td id="new_id-1980" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1981" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1982" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,380,994</td> <td id="new_id-1983" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1984" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1985" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1986" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">123,617</td> <td id="new_id-1987" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1988" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1989" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1990" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,504,611</td> <td id="new_id-1991" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1992" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1993" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1994" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td> <td id="new_id-1995" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-1996" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-1997" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-1998" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,504,611</td> <td id="new_id-1999" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td>&#xa0;</td> <td id="new_id-2000">&#xa0;</td> <td id="new_id-2001">&#xa0;</td> <td id="new_id-2002">&#xa0;</td> <td id="new_id-2003">&#xa0;</td> <td id="new_id-2004">&#xa0;</td> <td id="new_id-2005">&#xa0;</td> <td id="new_id-2006">&#xa0;</td> <td id="new_id-2007">&#xa0;</td> <td id="new_id-2008">&#xa0;</td> <td id="new_id-2009">&#xa0;</td> <td id="new_id-2010">&#xa0;</td> <td id="new_id-2011">&#xa0;</td> <td id="new_id-2012">&#xa0;</td> <td id="new_id-2013">&#xa0;</td> <td id="new_id-2014">&#xa0;</td> <td id="new_id-2015">&#xa0;</td> <td id="new_id-2016">&#xa0;</td> <td id="new_id-2017">&#xa0;</td> <td id="new_id-2018">&#xa0;</td> <td id="new_id-2019">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Engineering, research, and development</p> </td> <td id="new_id-2020" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2021" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2022" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2023" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2024" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2025" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2026" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2027" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2028" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2029" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2030" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">631,953</td> <td id="new_id-2031" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2032" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2033" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2034" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-2035" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2036" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2037" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2038" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">631,953</td> <td id="new_id-2039" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Selling, general and administrative</p> </td> <td id="new_id-2040" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2041" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2042" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2043" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2044" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2045" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2046" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2047" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2048" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2049" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2050" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">253,838</td> <td id="new_id-2051" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2052" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2053" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2054" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">407,413</td> <td id="new_id-2055" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2056" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2057" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2058" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">661,251</td> <td id="new_id-2059" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Litigation costs</p> </td> <td id="new_id-2060" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2061" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2062" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2063" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2064" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2065" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2066" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2067" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2068" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2069" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2070" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-2071" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2072" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2073" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2074" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">2,696</td> <td id="new_id-2075" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2076" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2077" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2078" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">2,696</td> <td id="new_id-2079" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Interest income</p> </td> <td id="new_id-2080" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2081" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2082" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2083" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2084" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2085" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2086" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2087" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2088" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2089" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2090" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-2091" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2092" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2093" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2094" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">(2,846</td> <td id="new_id-2095" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> <td id="new_id-2096" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2097" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2098" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">(2,846</td> <td id="new_id-2099" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Other income</p> </td> <td id="new_id-2100" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2101" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2102" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2103" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2104" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2105" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2106" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2107" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2108" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2109" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2110" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-2111" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2112" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2113" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2114" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">(13,854</td> <td id="new_id-2115" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> <td id="new_id-2116" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2117" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2118" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">(13,854</td> <td id="new_id-2119" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Interest expense - judgment</p> </td> <td id="new_id-2120" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2121" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2122" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2123" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2124" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2125" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2126" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2127" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2128" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2129" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2130" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-2131" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2132" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2133" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2134" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">75,144</td> <td id="new_id-2135" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2136" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2137" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2138" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">75,144</td> <td id="new_id-2139" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Interest&#xa0;expense</p> </td> <td id="new_id-2140" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2141" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2142" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2143" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2144" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2145" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2146" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2147" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2148" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2149" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2150" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td> <td id="new_id-2151" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2152" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2153" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2154" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">9,780</td> <td id="new_id-2155" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2156" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2157" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2158" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">9,780</td> <td id="new_id-2159" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Total expenses</p> </td> <td id="new_id-2160" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2161" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2162" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2163" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2164" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2165" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2166" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2167" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2168" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2169" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2170" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">885,791</td> <td id="new_id-2171" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2172" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2173" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2174" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">478,333</td> <td id="new_id-2175" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2176" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2177" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2178" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,364,124</td> <td id="new_id-2179" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Income (loss) before income taxes</p> </td> <td id="new_id-2180" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2181" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2182" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2183" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2184" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2185" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2186" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2187" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2188" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2189" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-2190" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">618,820</td> <td id="new_id-2191" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2192" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2193" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-2194" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">(478,333</td> <td id="new_id-2195" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> <td id="new_id-2196" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2197" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-2198" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">140,487</td> <td id="new_id-2199" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> </table><table border="0" cellpadding="0" cellspacing="0" class="finTable" style="width: 100%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"> <tr style="vertical-align: bottom;"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 40%; border-bottom: thin solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Three Months Ended</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>June 30, 2019</b></p> </td> <td id="new_id-2200" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-2201" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Avionics</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Government</b></p> </td> <td id="new_id-2202" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-2203" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-2204" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Avionics</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Commercial</b></p> </td> <td id="new_id-2205" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-2206" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-2207" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Avionics</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Total</b></p> </td> <td id="new_id-2208" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-2209" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-2210" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Corporate</b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Items</b></p> </td> <td id="new_id-2211" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> <td id="new_id-2212" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td colspan="2" id="new_id-2213" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Total</b></p> </td> <td id="new_id-2214" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Net sales</p> </td> <td id="new_id-2215" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2216" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-2217" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">2,504,140</td> <td id="new_id-2218" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2219" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2220" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-2221" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">802,322</td> <td id="new_id-2222" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2223" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2224" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-2225" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">3,306,462</td> <td id="new_id-2226" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2227" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2228" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-2229" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-2230" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2231" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2232" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-2233" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">3,306,462</td> <td id="new_id-2234" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Cost of sales</p> </td> <td id="new_id-2235" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2236" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2237" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,242,567</td> <td id="new_id-2238" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2239" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2240" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2241" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">482,291</td> <td id="new_id-2242" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2243" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2244" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2245" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,724,858</td> <td id="new_id-2246" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2247" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2248" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2249" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td> <td id="new_id-2250" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2251" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2252" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2253" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,724,858</td> <td id="new_id-2254" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Gross margin</p> </td> <td id="new_id-2255" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2256" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2257" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,261,573</td> <td id="new_id-2258" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2259" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2260" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2261" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">320,031</td> <td id="new_id-2262" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2263" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2264" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2265" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,581,604</td> <td id="new_id-2266" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2267" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2268" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2269" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td> <td id="new_id-2270" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2271" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2272" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2273" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,581,604</td> <td id="new_id-2274" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td>&#xa0;</td> <td id="new_id-2275">&#xa0;</td> <td id="new_id-2276">&#xa0;</td> <td id="new_id-2277">&#xa0;</td> <td id="new_id-2278">&#xa0;</td> <td id="new_id-2279">&#xa0;</td> <td id="new_id-2280">&#xa0;</td> <td id="new_id-2281">&#xa0;</td> <td id="new_id-2282">&#xa0;</td> <td id="new_id-2283">&#xa0;</td> <td id="new_id-2284">&#xa0;</td> <td id="new_id-2285">&#xa0;</td> <td id="new_id-2286">&#xa0;</td> <td id="new_id-2287">&#xa0;</td> <td id="new_id-2288">&#xa0;</td> <td id="new_id-2289">&#xa0;</td> <td id="new_id-2290">&#xa0;</td> <td id="new_id-2291">&#xa0;</td> <td id="new_id-2292">&#xa0;</td> <td id="new_id-2293">&#xa0;</td> <td id="new_id-2294">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Engineering, research, and development</p> </td> <td id="new_id-2295" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2296" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2297" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2298" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2299" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2300" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2301" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2302" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2303" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2304" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2305" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">525,103</td> <td id="new_id-2306" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2307" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2308" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2309" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-2310" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2311" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2312" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2313" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">525,103</td> <td id="new_id-2314" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Selling, general and administrative</p> </td> <td id="new_id-2315" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2316" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2317" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2318" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2319" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2320" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2321" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2322" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2323" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2324" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2325" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">234,578</td> <td id="new_id-2326" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2327" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2328" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2329" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">377,893</td> <td id="new_id-2330" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2331" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2332" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2333" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">612,471</td> <td id="new_id-2334" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Litigation costs</p> </td> <td id="new_id-2335" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2336" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2337" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2338" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2339" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2340" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2341" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2342" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2343" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2344" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2345" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-2346" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2347" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2348" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2349" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">10,507</td> <td id="new_id-2350" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2351" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2352" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2353" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">10,507</td> <td id="new_id-2354" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Change in fair value of common stock warrants</p> </td> <td id="new_id-2355" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2356" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2357" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2358" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2359" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2360" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2361" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2362" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2363" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2364" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2365" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-2366" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2367" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2368" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2369" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">78,500</td> <td id="new_id-2370" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2371" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2372" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2373" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">78,500</td> <td id="new_id-2374" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Interest income</p> </td> <td id="new_id-2375" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2376" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2377" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2378" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2379" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2380" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2381" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2382" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2383" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2384" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2385" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-2386" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2387" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2388" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2389" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">(1,000</td> <td id="new_id-2390" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> <td id="new_id-2391" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2392" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2393" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">(1,000</td> <td id="new_id-2394" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Interest expense - judgment</p> </td> <td id="new_id-2395" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2396" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2397" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2398" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2399" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2400" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2401" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2402" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2403" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2404" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2405" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td> <td id="new_id-2406" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2407" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2408" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2409" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">80,510</td> <td id="new_id-2410" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2411" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2412" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2413" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">80,510</td> <td id="new_id-2414" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Interest&#xa0;expense</p> </td> <td id="new_id-2415" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2416" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2417" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2418" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2419" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2420" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2421" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2422" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2423" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2424" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2425" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td> <td id="new_id-2426" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2427" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2428" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2429" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">17,737</td> <td id="new_id-2430" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2431" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2432" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2433" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">17,737</td> <td id="new_id-2434" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Total expenses</p> </td> <td id="new_id-2435" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2436" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2437" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2438" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2439" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2440" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2441" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2442" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2443" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2444" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2445" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">759,681</td> <td id="new_id-2446" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2447" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2448" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2449" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">564,147</td> <td id="new_id-2450" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2451" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2452" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2453" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">1,323,828</td> <td id="new_id-2454" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Income (loss) before income taxes</p> </td> <td id="new_id-2455" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2456" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2457" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2458" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2459" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2460" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2461" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2462" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2463" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2464" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-2465" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">821,923</td> <td id="new_id-2466" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> <td id="new_id-2467" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2468" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-2469" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">(564,147</td> <td id="new_id-2470" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> <td id="new_id-2471" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2472" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-2473" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">257,776</td> <td id="new_id-2474" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> </table></div> 2563276 376161 2939437 0 1182282 252544 1434826 0 1380994 123617 1504611 0 631953 0 253838 407413 0 2696 0 2846 0 13854 0 75144 0 -9780 -9780 885791 478333 1364124 618820 -478333 2504140 802322 3306462 0 1242567 482291 1724858 0 1261573 320031 1581604 0 525103 0 234578 377893 0 10507 0 -78500 0 1000 0 80510 0 -17737 -17737 759681 564147 1323828 821923 -564147 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; "> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><font style="text-decoration:underline">Note 10&#xa0;&#x2013; Income Taxes</font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">FASB ASC 740-10, &#x201c;Accounting for Uncertainty in Income Taxes&#x201d; (&#x201c;ASC 740-10&#x201d;) prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return.&#xa0;&#xa0;The Company has analyzed filing positions in all of the federal and state jurisdictions where it is required to file income tax returns, as well as all open tax years in these jurisdictions.&#xa0;&#xa0;The Company does not have any unrecognized tax benefits.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The tax effect of temporary differences, primarily net operating loss carryforwards, asset reserves and accrued liabilities, gave rise to the Company&#x2019;s deferred tax asset.&#xa0;&#xa0;Deferred income taxes are recognized for the tax consequence of such temporary differences at the enacted tax rate expected to be in effect when the differences reverse. The Company had approximately $2.7 million in deferred tax assets at June 30, 2020. Future profitability in this competitive industry depends on continually obtaining and fulfilling new profitable sales agreements and modifying products.&#xa0;&#xa0;The inability to obtain new profitable contracts or the failure of the Company&#x2019;s engineering development efforts could reduce estimates of future profitability, which could affect the Company&#x2019;s ability to realize the deferred tax assets.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The recognized deferred tax asset is based upon the expected utilization of its benefit from future taxable income. The Company has federal net operating loss (&#x201c;NOL&#x201d;) carryforwards of approximately $4 million. These carryforward losses are available to offset future taxable income, and begin to expire in the year 2027.</p><br/></div> 4000000 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; "> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><font style="text-decoration:underline">Note 11 &#x2013; Operating Lease Liability</font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company leases its facility in East Rutherford, NJ with monthly payments of $18,467 which expires in August 2021 and includes a renewal option for an additional five years. The Company also has an operating lease for office equipment with monthly payments of $523 which expires in May 2021.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company's leases generally do not provide an implicit rate, and therefore the Company uses its incremental borrowing rate as the discount rate when measuring operating lease liabilities. The incremental borrowing rate represents an estimate of the interest rate the Company would incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis over the term of a lease. The Company used incremental borrowing rates as of April 1, 2019 for operating leases that commenced prior to that date. The Company estimated its incremental borrowing rate based on its credit quality, line of credit agreement and by comparing interest rates available in the market for similar borrowings. The Company used a discount rate of 6.25% at June 30, 2020.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The following table reconciles the undiscounted future minimum lease payments (displayed by year and in the aggregate) under non-cancelable operating leases with terms of more than one year to the total lease liabilities recognized on the unaudited condensed consolidated balance sheet as of June 30, 2020:</p><br/><table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 10%; margin-left: 10%; width: 80%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 81%;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Remaining payments&#xa0;2021</p> </td> <td id="new_id-2475" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2476" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-2477" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">170,910</td> <td id="new_id-2478" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">2022</p> </td> <td id="new_id-2479" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2480" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2481" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">93,381</td> <td id="new_id-2482" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Total undiscounted future minimum lease payments</p> </td> <td id="new_id-2483" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2484" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2485" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">264,291</td> <td id="new_id-2486" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Less: Difference between undiscounted lease payments and discounted lease liabilities</p> </td> <td id="new_id-2487" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2488" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2489" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(10,001</td> <td id="new_id-2490" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Present value of net minimum lease payments</p> </td> <td id="new_id-2491" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2492" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2493" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">254,290</td> <td id="new_id-2494" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Less current portion</p> </td> <td id="new_id-2495" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2496" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2497" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(217,643</td> <td id="new_id-2498" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Operating lease liabilities &#x2013; long-term</p> </td> <td id="new_id-2499" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2500" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-2501" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">36,647</td> <td id="new_id-2502" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> </table><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Total rent expense for the three months ended June 30, 2020 was $90,921 as compared to $86,291 for the three months ended June 30, 2019.</p><br/></div> 18467 523 0.0625 90921 86291 <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; "> <div>The Company's leases generally do not provide an implicit rate, and therefore the Company uses its incremental borrowing rate as the discount rate when measuring operating lease liabilities. The incremental borrowing rate represents an estimate of the interest rate the Company would incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis over the term of a lease. The Company used incremental borrowing rates as of April 1, 2019 for operating leases that commenced prior to that date. The Company estimated its incremental borrowing rate based on its credit quality, line of credit agreement and by comparing interest rates available in the market for similar borrowings. The Company used a discount rate of 6.25% at June 30, 2020.</div><br/><br/><table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 10%; margin-left: 10%; width: 80%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 81%;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Remaining payments&#xa0;2021</p> </td> <td id="new_id-2475" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2476" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td id="new_id-2477" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">170,910</td> <td id="new_id-2478" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">2022</p> </td> <td id="new_id-2479" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2480" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2481" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">93,381</td> <td id="new_id-2482" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Total undiscounted future minimum lease payments</p> </td> <td id="new_id-2483" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2484" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2485" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">264,291</td> <td id="new_id-2486" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Less: Difference between undiscounted lease payments and discounted lease liabilities</p> </td> <td id="new_id-2487" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2488" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2489" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(10,001</td> <td id="new_id-2490" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Present value of net minimum lease payments</p> </td> <td id="new_id-2491" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2492" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2493" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">254,290</td> <td id="new_id-2494" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Less current portion</p> </td> <td id="new_id-2495" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2496" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&#xa0;</td> <td id="new_id-2497" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(217,643</td> <td id="new_id-2498" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px; white-space: nowrap;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">)</p> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Operating lease liabilities &#x2013; long-term</p> </td> <td id="new_id-2499" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&#xa0;</td> <td id="new_id-2500" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td id="new_id-2501" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">36,647</td> <td id="new_id-2502" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt; white-space: nowrap;">&#xa0;</td> </tr> </table></div> 170910 93381 264291 10001 254290 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; "> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><font style="text-decoration:underline">Note 12 &#x2013; Litigation</font></p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Contingencies are recorded in the unaudited condensed consolidated financial statements when it is probable that a liability will be incurred and the amount of the loss is reasonably estimable, or otherwise disclosed, in accordance with Accounting Standards Codification 450, Contingencies (ASC 450). Significant judgment is required in both the determination of probability and the determination as to whether a loss is reasonably estimable. In the event the Company determines that a loss is not probable, but is reasonably possible, and it becomes possible to develop what the Company believes to be a reasonable range of possible loss, then the Company will include disclosures related to such matter as appropriate and in compliance with ASC 450. To the extent there is a reasonable possibility that the losses could exceed the amounts already accrued, the Company will, when applicable, adjust the accrual in the period the determination is made, disclose an estimate of the additional loss or range of loss or if the amount of such adjustment cannot be reasonably estimated, disclose that an estimate cannot be made.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">On March 24, 2009, Aeroflex Wichita, Inc. (&#x201c;Aeroflex&#x201d;) filed a petition against the Company and two of its employees in the District Court located in Sedgwick County, Kansas, Case No. 09 CV 1141 (the &#x201c;Aeroflex Action&#x201d;), alleging that the Company and its two employees misappropriated Aeroflex&#x2019;s proprietary technology in connection with the Company winning a substantial contract from the U.S. Army, to develop new Mode-5 radar test sets and kits to upgrade the existing TS-4530 radar test sets to Mode 5 (the &#x201c;Award&#x201d;). Aeroflex&#x2019;s petition, seeking injunctive relief and damages, alleges that in connection with the Award, the Company and its named employees misappropriated Aeroflex&#x2019;s trade secrets; tortiously interfered with Aeroflex&#x2019;s business relationship; conspired to harm Aeroflex and tortiously interfered with Aeroflex&#x2019;s contract. The central basis of all the claims in the Aeroflex Action is that the Company misappropriated and used Aeroflex proprietary technology and confidential information in winning the Award.&#xa0;&#xa0;In February 2009, subsequent to the Company winning the Award, Aeroflex filed a protest of the Award with the Government Accounting Office (&#x201c;GAO&#x201d;). In its protest, Aeroflex alleged, inter alia, that the Company used Aeroflex&#x2019;s proprietary technology in order to win the Award, the same material allegations as were later alleged in the Aeroflex Action. On or about March 17, 2009, the U.S. Army Contracts Attorney and the U.S. Army Contracting Officer each filed a statement with the GAO, expressly rejecting Aeroflex&#x2019;s allegations that the Company used or infringed on Aeroflex&#x2019;s proprietary technology in winning the Award, and concluding that the Company had used only its own proprietary technology. On April 6, 2009, Aeroflex withdrew its protest.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">In December 2009, the Kansas District Court dismissed the Aeroflex Action on jurisdiction grounds. Aeroflex appealed this decision. In May 2012, the Kansas Supreme Court reversed the decision and remanded the Aeroflex Action to the Kansas District Court for further proceedings. The case then entered an extended discovery period in the District Court.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">On May 23, 2016, the Company filed a motion for summary judgment based on Aeroflex&#x2019;s lack of jurisdictional standing to bring the case. The motion asserts that Aeroflex does not own the intellectual property at issue since it is a bare licensee of Northrop Grumman. Northrop Grumman has declined to join this suit as plaintiff. The motion asserted Aeroflex lacks standing to sue alone. Also, the motion raises the fact that Aeroflex allowed the license to expire, Aeroflex&#x2019;s claims are either moot or Aeroflex lacks standing to sue for damages alleged to have accrued after the license ended in 2011. The motion for summary judgment was denied.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Aeroflex trial on remand in the Kansas District Court began in March 2017. After a nine-week trial, the jury rendered its verdict. The jury found no misappropriation of Aeroflex trade secrets but found that the Company tortiously interfered with a prospective business opportunity and awarded damages of $1.3 million for lost profits. The jury also ruled that Tel tortiously interfered with Aeroflex&#x2019;s non-disclosure agreements with two former Aeroflex employees and awarded damages of $1.5 million for lost profits, resulting in total damages against the Company of $2.8 million. The jury also found that the former Aeroflex employees breached their non-disclosure agreements with Aeroflex and awarded damages against these two individuals totaling $525,000. The jury also decided that punitive damages should be allowed against the Company.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Following the verdict, the Company filed a motion for judgment as a matter of law. In the motion, the Company renewed its motion for judgment on Aeroflex&#x2019;s tortious interference with prospective business opportunity claim arguing that such claim is barred by the statute of limitations. Alternatively, the motion asserts there is insufficient evidence supporting the lost profit award on that claim.&#xa0; Additionally, the motion for judgment addresses inconsistency between the awards against the former Aeroflex employees for breach of the non-disclosure agreements and the award against the Company for interfering with those agreements. Alternatively, the motion asserts there is insufficient evidence supporting the lost profit award on that claim.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">During July 2017, the Court heard the Company&#x2019;s motion for judgment as well as conducting a hearing as to the amount of a punitive damages award. Kansas statutes limit punitive damages to a maximum of $5 million.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Aeroflex submitted a motion to the Court requesting that the judge award punitive damages at the maximum $5 million amount. In October 2017, the Court denied the Company&#x2019;s motions and awarded Aeroflex an additional $2.1 million of punitive damages,&#xa0;which brings the total Tel damages awarded in this case to approximately $4.9 million.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Journal Entry of Judgment including judgment against the Company in the amount of $1.3 million for tortious interference with prospective business advantage, of $1.5 million for tortious interference with existing contracts, and $2.1 million in punitive damages was entered on November 22, 2017. Pursuant to K.S.A. 16-204(d) &#x201c;any judgment rendered by a court of this state on or after July 1, 1986, shall bear interest on and after the day on which judgment is rendered at the rate provided by subsection (e). The Kansas Secretary of State publishes the rate amount. The amount published for July 1, 2017 through June 30, 2018 is 5.75% and 6.5% July 1, 2018 through June 30, 2019. The current rate beginning July 1, 2019 through June 30, 2020 is 7.0%. Interest on the $4,900,000 judgment started to accrue on November 22, 2017, the date the judgment was entered. As of June 30, 2020, the outstanding amount of the judgement and accrued interest is $5,732,693.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company filed post-trial motions to avoid damage duplication and inconsistency, and to secure judgment as a matter of law or a new trial. The trial court denied those motions. The Company appealed the verdict and the post-trial rulings to the Court of Appeals of the State of Kansas, Case No. 18-119,563. The Company posted a $2 million supersedeas bond. The Plaintiff filed a cross-appeal. The appeal and cross-appeal are fully briefed. The appellate court has not set a date to hear the appeal.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company is very optimistic about the prospects of its appeal for a judgment as a matter of law. The Company was hoping for a decision from the court this calendar year but this timing will likely be delayed due to the three-month COVID-19 related shutdown of the Kansas court system. As such, the appeal process is expected to take at least another year to complete.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company has the ability to settle this case at its sole discretion by withdrawing the appeal and paying the judgment plus interest amount.</p><br/><p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Other than the matters outlined above, the Company is currently not involved in any litigation that we believe could have a material adverse effect on the Company&#x2019;s financial condition or results of operations. There is no action, suit, proceeding, inquiry or investigation before any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge of executive officers of our Company, threatened against or affecting our Company, or our common stock in which an adverse decision could have a material effect.</p><br/></div> 1300000 1500000 2800000 5000000 2100000 4900000 0.0575 0.065 0.070 As such, the appeal process is expected to take at least another year to complete. The Company has the ability to settle this case at its sole discretion by withdrawing the appeal and paying the judgment plus interest amount. EX-101.SCH 7 tikk-20200630.xsd XBRL TAXONOMY EXTENSION SCHEMA 001 - Statement - Condensed Consolidated Balance Sheets link:presentationLink link:definitionLink link:calculationLink 002 - Statement - Condensed Consolidated Balance Sheets (Parentheticals) link:presentationLink link:definitionLink link:calculationLink 003 - Statement - Condensed Consolidated Statements of Operations link:presentationLink link:definitionLink link:calculationLink 004 - Statement - Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) link:presentationLink link:definitionLink link:calculationLink 005 - Statement - Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) (Parentheticals) link:presentationLink link:definitionLink link:calculationLink 006 - Statement - Condensed Consolidated Statements of Cash Flows link:presentationLink link:definitionLink link:calculationLink 007 - Disclosure - Business, Organization, and Liquidity link:presentationLink link:definitionLink link:calculationLink 008 - Disclosure - Summary of Significant Accounting Policies link:presentationLink link:definitionLink link:calculationLink 009 - Disclosure - Accounts Receivable, net link:presentationLink link:definitionLink link:calculationLink 010 - Disclosure - Restricted Cash to Support Appeal Bond link:presentationLink link:definitionLink link:calculationLink 011 - Disclosure - Inventories, net link:presentationLink link:definitionLink link:calculationLink 012 - Disclosure - Net Income per Share link:presentationLink link:definitionLink link:calculationLink 013 - Disclosure - Line of Credit link:presentationLink link:definitionLink link:calculationLink 014 - Disclosure - SBA PPP Loan link:presentationLink link:definitionLink link:calculationLink 015 - Disclosure - Segment Information link:presentationLink link:definitionLink link:calculationLink 016 - Disclosure - Income Taxes link:presentationLink link:definitionLink link:calculationLink 017 - Disclosure - Operating Lease Liability link:presentationLink link:definitionLink link:calculationLink 018 - Disclosure - Litigation link:presentationLink link:definitionLink link:calculationLink 019 - Disclosure - Accounting Policies, by Policy (Policies) link:presentationLink link:definitionLink link:calculationLink 020 - Disclosure - Summary of Significant Accounting Policies (Tables) link:presentationLink link:definitionLink link:calculationLink 021 - Disclosure - Accounts Receivable, net (Tables) link:presentationLink link:definitionLink link:calculationLink 022 - Disclosure - Inventories, net (Tables) link:presentationLink link:definitionLink link:calculationLink 023 - Disclosure - Net Income per Share (Tables) link:presentationLink link:definitionLink link:calculationLink 024 - Disclosure - Segment Information (Tables) link:presentationLink link:definitionLink link:calculationLink 025 - Disclosure - Operating Lease Liability (Tables) link:presentationLink link:definitionLink link:calculationLink 026 - Disclosure - Business, Organization, and Liquidity (Details) link:presentationLink link:definitionLink link:calculationLink 027 - Disclosure - Summary of Significant Accounting Policies (Details) link:presentationLink link:definitionLink link:calculationLink 028 - Disclosure - Summary of Significant Accounting Policies (Details) - Deferred Revenue, by Arrangement, Disclosure link:presentationLink link:definitionLink link:calculationLink 029 - Disclosure - Summary of Significant Accounting Policies (Details) - Disaggregation of Revenue link:presentationLink link:definitionLink link:calculationLink 030 - Disclosure - Summary of Significant Accounting Policies (Details) - Revenue from External Customers by Geographic Areas link:presentationLink link:definitionLink link:calculationLink 031 - Disclosure - Accounts Receivable, net (Details) - Schedule of Accounts, Notes, Loans and Financing Receivable link:presentationLink link:definitionLink link:calculationLink 032 - Disclosure - Restricted Cash to Support Appeal Bond (Details) link:presentationLink link:definitionLink link:calculationLink 033 - Disclosure - Inventories, net (Details) - Schedule of Inventory, Current link:presentationLink link:definitionLink link:calculationLink 034 - Disclosure - Net Income per Share (Details) - Schedule of Earnings Per Share, Basic and Diluted link:presentationLink link:definitionLink link:calculationLink 035 - Disclosure - Net Income per Share (Details) - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share link:presentationLink link:definitionLink link:calculationLink 036 - Disclosure - Line of Credit (Details) link:presentationLink link:definitionLink link:calculationLink 037 - Disclosure - SBA PPP Loan (Details) link:presentationLink link:definitionLink link:calculationLink 038 - Disclosure - Segment Information (Details) link:presentationLink link:definitionLink link:calculationLink 039 - Disclosure - Segment Information (Details) - Schedule of Segment Reporting Information, by Segment link:presentationLink link:definitionLink link:calculationLink 040 - Disclosure - Income Taxes (Details) link:presentationLink link:definitionLink link:calculationLink 041 - Disclosure - Operating Lease Liability (Details) link:presentationLink link:definitionLink link:calculationLink 042 - Disclosure - Operating Lease Liability (Details) - Lessee, Operating Lease, Liability, Maturity link:presentationLink link:definitionLink link:calculationLink 043 - Disclosure - Litigation (Details) link:presentationLink link:definitionLink link:calculationLink 000 - Document - Document And Entity Information link:presentationLink link:definitionLink link:calculationLink EX-101.CAL 8 tikk-20200630_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 9 tikk-20200630_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 10 tikk-20200630_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE EX-101.PRE 11 tikk-20200630_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 12 R1.htm IDEA: XBRL DOCUMENT v3.20.2
Document And Entity Information - shares
3 Months Ended
Jun. 30, 2020
Aug. 11, 2020
Document Information Line Items    
Entity Registrant Name TEL INSTRUMENT ELECTRONICS CORP  
Document Type 10-Q  
Current Fiscal Year End Date --03-31  
Entity Common Stock, Shares Outstanding   3,255,887
Amendment Flag false  
Entity Central Index Key 0000096885  
Entity Current Reporting Status Yes  
Entity Filer Category Non-accelerated Filer  
Document Period End Date Jun. 30, 2020  
Document Fiscal Year Focus 2021  
Document Fiscal Period Focus Q1  
Entity Small Business true  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Interactive Data Current No  
XML 13 R2.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2020
Mar. 31, 2020
Current assets:    
Cash $ 3,185,796 $ 3,126,195
Accounts receivable, net 1,809,297 1,411,644
Inventories, net 3,483,883 3,092,679
Restricted cash to support appeal bond 2,009,543 2,008,544
Prepaid expenses and other current assets 288,555 382,428
Total current assets 10,777,074 10,021,490
Equipment and leasehold improvements, net 249,596 263,750
Operating lease right-of-use assets 254,290 306,740
Deferred tax asset, net 2,650,890 2,712,780
Other long-term assets 35,109 35,109
Total assets 13,966,959 13,339,869
Current liabilities:    
Line of credit 680,000 680,000
SBA PPP loan – current portion 321,145 0
Operating lease liabilities – current portion 217,643 214,793
Accounts payable and accrued liabilities 944,151 1,035,023
Deferred revenues – current portion 90,257 145,168
Accrued legal damages 5,732,693 5,657,549
Finance lease obligations – current portion 0 49
Accrued payroll, vacation pay and payroll taxes 440,043 512,732
Total current liabilities 8,425,932 8,245,314
Operating lease liabilities – long-term 36,647 91,947
Deferred revenues – long-term 311,216 327,132
SBA PPP loan – long term 401,432 0
Total liabilities 9,175,227 8,664,393
Commitments and contingencies
Stockholders’ equity:    
Preferred stock
Common stock, 7,000,000 shares authorized, par value $0.10 per share, 3,255,887 shares issued and outstanding, respectively 325,586 325,586
Additional paid-in capital 7,541,900 7,616,624
Accumulated deficit (7,759,119) (7,870,099)
Total stockholders’ equity 4,791,732 4,675,476
Total liabilities and stockholders’ equity 13,966,959 13,339,869
Series A Preferred Stock [Member]    
Stockholders’ equity:    
Preferred stock 3,575,998 3,515,998
Series B Preferred Stock [Member]    
Stockholders’ equity:    
Preferred stock $ 1,107,367 $ 1,087,367
XML 14 R3.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares
3 Months Ended 12 Months Ended
Jun. 30, 2020
Mar. 31, 2020
Preferred stock, shares authorized 1,000,000 1,000,000
Preferred stock, par value (in Dollars per share) $ 0.10 $ 0.10
Common stock, par value (in Dollars per share) $ 0.10 $ 0.10
Common stock, shares issued 3,255,887 3,255,887
Common stock, shares outstanding 3,255,887 3,255,887
Common stock, shares authorized 7,000,000 7,000,000
Series A Preferred Stock [Member]    
Preferred stock, par value (in Dollars per share) $ 0.10 $ 0.10
Preferred stock, shares issued 500,000 500,000
Preferred stock, shares outstanding 500,000 500,000
Preferred stock, Cumulative Series Convertible Preferred 8.00% 8.00%
Series B Preferred Stock [Member]    
Preferred stock, par value (in Dollars per share) $ 0.10 $ 0.10
Preferred stock, shares issued 166,667 166,667
Preferred stock, shares outstanding 166,667 166,667
Preferred stock, Cumulative Series Convertible Preferred 8.00% 8.00%
XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Income Statement [Abstract]    
Net sales $ 2,939,437 $ 3,306,462
Cost of sales 1,434,826 1,724,858
Gross margin 1,504,611 1,581,604
Selling, general and administrative 661,251 612,471
Litigation costs 2,696 10,507
Engineering, research and development 631,953 525,103
Total operating expenses 1,295,900 1,148,081
Income from operations 208,711 433,523
Change in fair value of common stock warrants 0 (78,500)
Other income 13,854 0
Interest income 2,846 1,000
Interest expense – judgment (75,144) (80,510)
Interest expense (9,780) (17,737)
Total other expense (68,224) (175,747)
Income before income taxes 140,487 257,776
Income tax expense 29,507 0
Net income 110,980 257,776
Preferred stock dividends (80,000) (80,000)
Net income attributable to common shareholders $ 30,980 $ 177,776
Basic income per common share (in Dollars per share) $ 0.01 $ 0.05
Diluted income per common share (in Dollars per share) $ 0.01 $ 0.04
Weighted average shares outstanding:    
Basic (in Shares) 3,255,887 3,255,887
Diluted (in Shares) 3,255,887 4,915,665
XML 16 R5.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) - USD ($)
Series A Preferred Stock [Member]
Preferred Stock [Member]
Series B Preferred Stock [Member]
Preferred Stock [Member]
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Total
Balances at Mar. 31, 2019 $ 3,275,998 $ 1,007,367 $ 325,586 $ 7,914,955 $ (12,606,589) $ (82,683)
Balances (in Shares) at Mar. 31, 2019 500,000 166,667 3,255,887      
8% Dividends on Preferred Stock $ 60,000 $ 20,000   (80,000)   80,000
Stock-based compensation       5,841   5,841
Net income         257,776 257,776
Balances at Jun. 30, 2019 $ 3,335,998 $ 1,027,367 $ 325,586 7,840,796 (12,348,813) 180,934
Balances (in Shares) at Jun. 30, 2019 500,000 166,667 3,255,887      
Balances at Mar. 31, 2020 $ 3,515,998 $ 1,087,367 $ 325,586 7,616,624 (7,870,099) $ 4,675,476
Balances (in Shares) at Mar. 31, 2020 500,000 166,667 3,255,887     3,255,887
8% Dividends on Preferred Stock $ 60,000 $ 20,000   (80,000)   $ 80,000
Stock-based compensation       5,276   5,276
Net income         110,980 110,980
Balances at Jun. 30, 2020 $ 3,575,998 $ 1,107,367 $ 325,586 $ 7,541,900 $ (7,759,119) $ 4,791,732
Balances (in Shares) at Jun. 30, 2020 500,000 166,667 3,255,887     3,255,887
XML 17 R6.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) (Parentheticals)
3 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Additional Paid-in Capital [Member]    
Dividends on Preferred Stock 8.00% 8.00%
XML 18 R7.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 110,980 $ 257,776
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Deferred income taxes 61,890 0
Depreciation and amortization 29,540 19,075
Amortization of right of use assets 52,450 0
Provision for inventory obsolescence 10,000 10,000
Change in fair value of common stock warrant 0 78,500
Non-cash stock-based compensation 5,276 5,841
Changes in assets and liabilities:    
(Increase) decrease in accounts receivable (397,653) 620,127
Increase in inventories (401,204) (175,342)
Decrease in prepaid expenses & other assets 93,873 1,286
Decrease in accounts payable and accrued liabilities (90,872) (572,448)
(Decrease) increase in accrued payroll, vacation pay and payroll taxes (72,689) 26,957
(Decrease) increase in deferred revenues (70,827) 115,489
(Decrease) increase in operating lease liabilities (52,450) 0
Increase in accrued legal damages 75,144 83,450
Net cash (used in) provided by operating activities (646,542) 470,711
Cash flows from investing activities:    
Purchases of equipment (15,386) (23,507)
Net cash used in investing activities (15,386) (23,507)
Cash flows from financing activities:    
Proceeds from SBA PPP loan 722,577 0
Repayment of line of credit 0 (50,000)
Repayment of finance lease obligations (49) (602)
Net cash provided by (used in) financing activities 722,528 (50,602)
Net increase in cash and restricted cash 60,600 396,602
5,134,739 2,590,727
Supplemental cash flow information:    
Taxes paid 0 0
Interest paid 4,962 20,747
5,195,339 2,987,329
Beginning of period    
Cash 3,126,195 585,856
Restricted cash 2,008,544 2,004,871
End of period    
Cash 3,185,796 981,806
Restricted cash $ 2,009,543 $ 2,005,523
XML 19 R8.htm IDEA: XBRL DOCUMENT v3.20.2
Business, Organization, and Liquidity
3 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
Basis of Accounting [Text Block]

Note 1 – Business, Organization and Liquidity


Business and Organization


Tel-Instrument Electronics Corp. (“Tel”, “TIC” or the “Company”) has been in business since 1947.  The Company is a leading designer and manufacturer of avionics test and measurement instruments for the global, commercial air transport, general aviation, and government/military defense markets.  Tel provides instruments to test, measure, calibrate, and repair a wide range of airborne navigation and communication equipment.  The Company sells its equipment in both domestic and international markets. Tel continues to develop new products in anticipation of customers’ needs and to maintain its strong market position.  Its development of multi-function testers has made it easier for customers to perform ramp tests with less operator training, fewer test sets, and lower product support costs.  The Company has become a major manufacturer and supplier of Identification Friend or Foe (“IFF”) flight line test equipment over the last few years.


The Company is publicly traded and was quoted on the Over-the-Counter Market Place (“OTCQB”) under the symbol “TIKK”.


The Company’s operations have been affected by the recent and ongoing outbreak of the coronavirus disease 2019 (COVID-19) which in March 2020, was declared a pandemic by the World Health Organization. While the business is still strong, we have been impacted by the pandemic in our commercial business and delays in orders from some of our military customers. The pandemic has also impacted our supply chain and our labor force, but we have been working through these issues without having any significant delays. Our international business remains strong mainly due to our Mode 5 test sets, including our T-47/M5, which has received AIMS (Air Traffic Control Radar Beacon System, Identification Friend or Foe, Mark XII/Mark XIIA, Systems) approval, our CRAFT products, especially for Lockheed Martin for the Joint Strike Fighter (“JSF”) program, and the T-4530i and the TS-4530A. The ultimate disruption which may be caused by the outbreak is uncertain; however, it may result in a material adverse impact on the Company’s financial position, operations and cash flows. Possible areas that may be affected include, but are not limited to, disruption to the Company’s customers and revenue, labor workforce, inability of customers to pay outstanding accounts receivable due and owing to the Company as they limit or shut down their businesses,  customers seeking relief or  extended payment plans relating to accounts receivable due and owing to the Company, unavailability of products and supplies used in operations, and the decline in value of assets held by the Company, including property and equipment.


Moving forward, we believe that our expected cash flows from operations, as a result of the increase in business, and current cash balances, which amounted to $5.2 million, including the $2 million is restricted cash will be sufficient to operate in the normal course of business for next 12 months from the issuance date of these financial statements, including any payments for settlement of the litigation.


XML 20 R9.htm IDEA: XBRL DOCUMENT v3.20.2
Summary of Significant Accounting Policies
3 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
Significant Accounting Policies [Text Block]

Note 2 – Summary of Significant Accounting Policies


Basis of Presentation


In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary to present fairly the financial position of Tel-Instrument Electronics Corp. as of June 30, 2020, the results of operations and changes in stockholders’ equity (deficit) for the three months ended June 30, 2020 and June 30, 2019, and statements of cash flows for the three months ended June 30, 2020 and June 30, 2019.  These results are not necessarily indicative of the results to be expected for the full year.  The unaudited condensed consolidated financial statements have been prepared in accordance with the requirements of Form 10-Q and consequently do not include disclosures normally made in an Annual Report on Form 10-K.  The March 31, 2020 balance sheet included herein was derived from the audited financial statements included in the Company’s Annual Report on Form 10-K as of that date.  Accordingly, the unaudited condensed consolidated financial statements included herein should be reviewed in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2020, as filed with the United States Securities and Exchange Commission (the “SEC”) on June 29, 2020 (the “Annual Report”).


Revenue Recognition


The Company accounts for revenue recognition in accordance with ASC 606.The core principle of Topic 606 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. The ASU defines a five-step process to achieve the core principal and, in doing so, it is possible more judgement and estimates may be required within the revenue recognition process than are currently in use. 


The Company generates revenue from designing, manufacturing and selling avionic tests and measurement solutions for the global commercial air transport, general aviation, and government/military aerospace and defense markets. The Company also offers calibration and repair services for a wide range of airborne navigation and communication equipment. 


Under ASU 2014-09 Topic 606, Revenue from Contacts with Customers (“ASC 606”), the Company recognizes revenue when the customer obtains control of promised goods or services, in an amount that reflects the consideration which is expected to be received in exchange for those goods or services. The Company recognizes revenue following the five-step model prescribed under ASC 606: (i) identify contract(s) with a customer; (ii) identify the performance obligation(s) in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligation(s) in the contract; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied.


Nature of goods and services


The following is a description of the products and services from which the Company generates revenue, as well as the nature, timing of satisfaction of performance obligations, and significant payment terms for each.


Test Units/Sets


The Company develops and manufactures unit sets to test navigation and communication equipment, such as ramp testers and bench testers for equipment installed in aircraft. The Company recognizes revenue when the customer obtains control of the Company’s product based on the contractual shipping terms of the contract, which is usually at the time of shipment. Revenue on products are presented gross because the Company is primarily responsible for fulfilling the promise to provide the product, is responsible to ensure that the product is produced in accordance with the related supply agreement, and bears the risk of loss while the inventory is in-transit. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring products to the customer.


If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price based on the estimated relative standalone selling prices of the promised products or services underlying each performance obligation. The Company determines stand-alone selling prices based on the price at which the performance obligation is sold separately. If the stand-alone selling price is not observable through past transactions, the Company estimates the standalone selling price taking into account available information such as market conditions and internally approved pricing guidelines related to the performance obligations.


When determining the transaction price of a contract, an adjustment is made if payment from the customer occurs either significantly before or significantly after performance, resulting in a significant financing component. Applying the practical expedient in paragraph 606-10-32-18, the Company does not assess whether a significant financing component exists if the period between when the Company performs its obligations under the contract and when the customer pays is one year or less. None of the Company’s contracts contained a significant financing component as of June 30, 2020.


Replacement Parts


The Company offers replacement parts for test equipment, ramp testers, and bench testers. Similar to the sale of test units, the control of the product transfers at a point of time and therefore, revenue is recognized at the point in time when the obligation to the customer has been fulfilled.


Extended Warranties


The extended warranties sold by the Company provide a level of assurance beyond the coverage for defects that existed at the time of a sale or against certain types of covered damage with coverage terms generally ranging from 5 to 7 years. Amounts received for warranties are recorded as deferred revenue and recognized as revenue ratably over the respective term of the agreements. As of June 30, 2020, approximately $391,414 is expected to be recognized from remaining performance obligations for extended warranties as compared to $413,554 at March 31, 2020.  For the three months ended June 30, 2020, the Company recognized revenue of $22,140 from amounts that were included in Deferred Revenue as compared to $19,491 for the three months ended June 30, 2019.


The following table provides a summary of the changes in deferred revenues for the three months ended June 30, 2020:


Deferred revenues at April 1, 2020

  $ 413,554  

Additional extended warranties

    -  

Revenue recognized for the three months ended June 30, 2020

    (22,140

)

Deferred revenues at June 30, 2020

  $ 391,414  

Other Deferred Revenues


The Company sometimes receives payments in advance of shipment. These amounts are classified as other deferred revenues. For the periods ended June 30, 2020 and March 31, 2020, the Company has other deferred revenues of $10,059 and $58,746, respectively.


Repair and Calibration Services


The Company offers repair and calibration services for units that are returned for annual calibrations and/or for repairs after the warranty period has expired. The Company repairs and calibrates a wide range of airborne navigation and communication equipment. Revenue is recognized at the time the repaired or calibrated unit is shipped back to the customer, as it is at this time that the work is completed.


Other


The majority of the Company’s revenues are from contracts with the U.S. government, airlines, aircraft manufacturers, such as Boeing and Lockheed Martin, domestic distributors, international distributors for sales to military and commercial customers, and other commercial customers. The contracts with the U.S. government typically are subject to the Federal Acquisition Regulation (“FAR”) which provides guidance on the types of costs that are allowable in establishing prices for goods and services provided under U.S. government contracts.


Payment terms and conditions vary by contract, although terms generally include a requirement of payment within a range from 30 to 60 days, or in certain cases, up-front deposits. In circumstances where the timing of revenue recognition differs from the timing of invoicing, the Company has determined that the Company's contracts generally do not include a significant financing component. Payments received prior to the delivery of units or services performed are recorded as deferred revenues. Taxes collected from customers, which are subsequently remitted to governmental authorities, are excluded from sales. The Company applied the practical expedient to account for shipping and handling activities as fulfillment cost rather than as a separate performance obligation. Shipping and handling costs charged to customers are classified as sales, and the shipping and handling costs incurred are included in cost of sales. 


All sales are denominated in U.S. dollars.


The Company excludes from revenues all taxes assessed by a governmental authority that are imposed on the sale of its products and collected from customers.


The Company chose to apply the available practical expedient as commission eligible sales orders are fulfilled within less than one year and commissions are generally paid by the Company within 30 days of the related sales order fulfillment. Accordingly, management has determined that no change in accounting for costs to obtain a contract will be required for the Company to conform to ASC 606.


Disaggregation of revenue


In the following tables, revenue is disaggregated by revenue category.


   

For the Three Months Ended

June 30, 2020

 
   

Commercial

   

Government

 

Sales Distribution

               

Test Units

  $ 58,573     $ 2,563,277  
    $ 58,573     $ 2,563,277  

The remainder of our revenues for the three months ended June 30, 2020 are derived from repairs and calibration of $277,898, replacement parts of $16,070, extended warranties of $22,140 and other revenues of $1,479. We do not disaggregate these revenue streams as they are not deemed an important element related to how management operates the business between segments.


   

For the Three Months Ended

June 30, 2019

 
   

Commercial

   

Government

 

Sales Distribution

               

Test Units

  $ 295,923     $ 2,504,140  
    $ 295,923     $ 2,504,140  

The remainder of our revenues for the three months ended June 30, 2019 are derived from repairs and calibration of $403,365, replacement parts of $81,634, extended warranties of $19,491 and other revenues of $1,909. We do not disaggregate these revenue streams as they are not deemed an important element related to how management operates the business between segments.


In the following table, revenue is disaggregated by geography.


   

For the Three Months

Ended

June 30, 2020

   

For the Three Months

Ended

June 30, 2019

 

Geography

               

United States

  $ 1,714,599     $ 2,912,737  

International

    1,224,838       393,725  

 Total

  $ 2,939,437     $ 3,306,462  

New Accounting Pronouncements


In June 2016, the FASB issued ASU No. 2016-13 Financial Instruments -Credit Losses (Topic 326), Measurement of Credit Losses on Financial Statements.  The amendment in this update replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses on instruments within its scope, including trade receivables. This update is intended to provide financial statement users with more decision-useful information about the expected credit losses. The effective date of the new standard has been deferred to April 1, 2023. We do not expect the adoption of this standard to have a significant impact on our financial position and results of operations.


In December 2019, the FASB issued ASU No. 2019-12, Income Taxes - simplifying the accounting for income taxes (Topic 740), which is meant to simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740, Income Taxes.  The amendment also improves consistent application and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance.  This ASU is effective April 1, 2021, and we do not expect the adoption of this standard to have a significant impact on our financial position and results of operations.


No other recently issued accounting pronouncements had or are expected to have a material impact on the Company’s unaudited condensed consolidated financial statements.


XML 21 R10.htm IDEA: XBRL DOCUMENT v3.20.2
Accounts Receivable, net
3 Months Ended
Jun. 30, 2020
Receivables [Abstract]  
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

Note 3 – Accounts Receivable, net


The following table sets forth the components of accounts receivable:


   

June 30,

2020

   

March 31,

2020

 

Government

  $ 1,473,831     $ 1,095,131  

Commercial

    342,966       324,013  

Less: Allowance for doubtful accounts

    (7,500

)

    (7,500

)

    $ 1,809,297     $ 1,411,644  

XML 22 R11.htm IDEA: XBRL DOCUMENT v3.20.2
Restricted Cash to Support Appeal Bond
3 Months Ended
Jun. 30, 2020
Cash and Cash Equivalents [Abstract]  
Cash and Cash Equivalents Disclosure [Text Block]

Note 4 – Restricted Cash to Support Appeal Bond


In January 2018, the Company transferred $2,000,000 to a restricted cash account to secure a letter of credit which was used for collateral for the appeal bond (See Note 12).


XML 23 R12.htm IDEA: XBRL DOCUMENT v3.20.2
Inventories, net
3 Months Ended
Jun. 30, 2020
Inventory Disclosure [Abstract]  
Inventory Disclosure [Text Block]

Note 5 – Inventories, net


Inventories consist of:


   

June 30,

2020

   

March 31,

2020

 
                 

Purchased parts

  $ 2,700,907     $ 3,011,072  

Work-in-process

    1,281,839       597,166  

Finished goods

    61,137       34,441  

Less: Inventory reserve

    (560,000

)

    (550,000

)

    $ 3,483,883     $ 3,092,679  

XML 24 R13.htm IDEA: XBRL DOCUMENT v3.20.2
Net Income per Share
3 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]

Note 6 – Net Income per Share


Net income per share has been computed according to Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC 260”), “Earnings per Share,” which requires a dual presentation of basic and diluted income per share (“EPS”). Basic EPS represents net income divided by the weighted average number of common shares outstanding during a reporting period. Diluted EPS reflects the potential dilution that could occur if securities, including preferred stock, warrants and options, were converted into common stock. The dilutive effect of outstanding warrants and options is reflected in earnings per share by use of the treasury stock method. The dilutive effect of preferred stock is reflected in earnings per share by use of the if-converted method. In applying the treasury stock method for stock-based compensation arrangements, the assumed proceeds are computed as the sum of the amount the employee must pay upon exercise and the amounts of average unrecognized compensation.


   

Three Months Ended

   

Three Months Ended

 
   

June 30, 2020

   

June 30, 2019

 

Basic net income per share computation:

               

  Net income

  $ 110,980     $ 257,776  

  Less: Preferred dividends

    (80,000

)

    (80,000

)

Net income attributable to common shareholders

    30,980       177,776  

  Weighted-average common shares outstanding

    3,255,887       3,255,887  

  Basic net income per share

  $ 0.01     $ 0.05  

Diluted net income per share computation

               

  Net income attributable to common shareholders

  $ 30,980     $ 177,776  

   Add: Preferred dividends

    -       80,000  

  Diluted income attributable to common shareholders

  $ 30,980     $ 257,776  

  Weighted-average common shares outstanding

    3,255,887       3,255,887  

  Incremental shares attributable to the assumed conversion of 

     preferred stock, and exercise of outstanding stock options and

     warrants

    -       1,659,778  

  Total adjusted weighted-average shares

    3,255,887       4,915,665  

 Diluted net income per share

  $ 0.01     $ 0.04  

The following table summarizes securities that, if exercised, would have an anti-dilutive effect on earnings per share for the three months ended:


   

June 30, 2020

   

June 30, 2019

 

Convertible preferred stock

    1,779,778       -  

Stock options

    83,500       118,500  

Warrants

    -       50,000  
      1,863,278       168,500  

XML 25 R14.htm IDEA: XBRL DOCUMENT v3.20.2
Line of Credit
3 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
Debt Disclosure [Text Block]

Note 7 – Line of Credit


In March 2020, Bank of America extended the line of credit to January 31, 2021. The new agreement includes a line of credit up to $690,000. Monthly payments are interest only. The line is collateralized by substantially all of the assets of the Company. 


As of June 30, 2020 and March 31, 2020, the outstanding balances were $680,000 and $680,000, respectively.  As of June 30, 2020 the remaining availability under this line is $10,000. The interest rate at June 30, 2020 was 3.94%.


XML 26 R15.htm IDEA: XBRL DOCUMENT v3.20.2
SBA PPP Loan
3 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
Long-term Debt [Text Block]

Note 8 – SBA PPP Loan


On March 27, 2020, President Trump signed the Coronavirus Aid, Relief and Economic Security (the “CARES Act”), which, among other things, outlines the provisions of the Paycheck Protection Program (the “PPP”). The Company determined that it met the criteria to be eligible to obtain a loan under the PPP because, among other reasons, in light of the COVID-19 outbreak and the uncertainty of economic conditions related thereto, the loan was considered necessary to support the Company’s ongoing operations and retain all its employees. In addition, President Trump signed into law the Paycheck Protection Program and Health Care Enhancement Act on April 24, 2020, which increased funding provided by the CARES Act. On May 4, 2020 the Company issued a promissory note (the “Note”) to Bank of America in the principal aggregate amount of $722,577 (the “PPP Loan”) pursuant to the PPP under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). The funds were deposited into the Company’s bank account on May 4, 2020. On June 5, 2020 the Paycheck Protection Program Flexibility Act was signed into law and extended the program until December 31, 2020.


Under the terms of the CARES Act, PPP loan recipients can apply for and be granted forgiveness for all or a portion of loan granted under the program. Such forgiveness will be determined, subject to limitations, based on the use of loan proceeds for payment of payroll costs and any payments of mortgage interest, rent, and utilities. While we are believe that we met the conditions to obtain forgiveness for a large portion of the PPP loan, no assurance is provided that the Company will in fact obtain forgiveness of the PPP Loan in whole or in part. The PPP Loan has a two-year term and bears interest at a rate of 1% per annum. Monthly principal and interest payments are deferred for six months after the date of disbursement. The PPP Loan may be prepaid at any time prior to maturity with no prepayment penalties. Based on the June 5, 2020 Paycheck Protection Program Flexibility Act, certain changes will need to be made to the original Note, based on the new law.


XML 27 R16.htm IDEA: XBRL DOCUMENT v3.20.2
Segment Information
3 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block]

Note 9 – 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 months ending June 30, 2020 and 2019:


Three Months Ended

June 30, 2020

 

Avionics

Government

   

Avionics

Commercial

   

Avionics

Total

   

Corporate

Items

   

Total

 

Net sales

  $ 2,563,276     $ 376,161     $ 2,939,437     $ -     $ 2,939,437  

Cost of sales

    1,182,282       252,544       1,434,826       -       1,434,826  

Gross margin

    1,380,994       123,617       1,504,611       -       1,504,611  
                                         

Engineering, research, and development

                    631,953       -       631,953  

Selling, general and administrative

                    253,838       407,413       661,251  

Litigation costs

                    -       2,696       2,696  

Interest income

                    -       (2,846

)

    (2,846

)

Other income

                    -       (13,854

)

    (13,854

)

Interest expense - judgment

                    -       75,144       75,144  

Interest expense

                    -       9,780       9,780  

Total expenses

                    885,791       478,333       1,364,124  

Income (loss) before income taxes

                  $ 618,820     $ (478,333

)

  $ 140,487  

Three Months Ended

June 30, 2019

 

Avionics

Government

   

Avionics

Commercial

   

Avionics

Total

   

Corporate

Items

   

Total

 

Net sales

  $ 2,504,140     $ 802,322     $ 3,306,462     $ -     $ 3,306,462  

Cost of sales

    1,242,567       482,291       1,724,858       -       1,724,858  

Gross margin

    1,261,573       320,031       1,581,604       -       1,581,604  
                                         

Engineering, research, and development

                    525,103       -       525,103  

Selling, general and administrative

                    234,578       377,893       612,471  

Litigation costs

                    -       10,507       10,507  

Change in fair value of common stock warrants

                    -       78,500       78,500  

Interest income

                    -       (1,000

)

    (1,000

)

Interest expense - judgment

                    -       80,510       80,510  

Interest expense

                    -       17,737       17,737  

Total expenses

                    759,681       564,147       1,323,828  

Income (loss) before income taxes

                  $ 821,923     $ (564,147

)

  $ 257,776  

XML 28 R17.htm IDEA: XBRL DOCUMENT v3.20.2
Income Taxes
3 Months Ended
Jun. 30, 2020
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block]

Note 10 – Income Taxes


FASB ASC 740-10, “Accounting for Uncertainty in Income Taxes” (“ASC 740-10”) prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return.  The Company has analyzed filing positions in all of the federal and state jurisdictions where it is required to file income tax returns, as well as all open tax years in these jurisdictions.  The Company does not have any unrecognized tax benefits.


The tax effect of temporary differences, primarily net operating loss carryforwards, asset reserves and accrued liabilities, gave rise to the Company’s deferred tax asset.  Deferred income taxes are recognized for the tax consequence of such temporary differences at the enacted tax rate expected to be in effect when the differences reverse. The Company had approximately $2.7 million in deferred tax assets at June 30, 2020. Future profitability in this competitive industry depends on continually obtaining and fulfilling new profitable sales agreements and modifying products.  The inability to obtain new profitable contracts or the failure of the Company’s engineering development efforts could reduce estimates of future profitability, which could affect the Company’s ability to realize the deferred tax assets.


The recognized deferred tax asset is based upon the expected utilization of its benefit from future taxable income. The Company has federal net operating loss (“NOL”) carryforwards of approximately $4 million. These carryforward losses are available to offset future taxable income, and begin to expire in the year 2027.


XML 29 R18.htm IDEA: XBRL DOCUMENT v3.20.2
Operating Lease Liability
3 Months Ended
Jun. 30, 2020
Disclosure Text Block [Abstract]  
Lessee, Operating Leases [Text Block]

Note 11 – Operating Lease Liability


The Company leases its facility in East Rutherford, NJ with monthly payments of $18,467 which expires in August 2021 and includes a renewal option for an additional five years. The Company also has an operating lease for office equipment with monthly payments of $523 which expires in May 2021.


The Company's leases generally do not provide an implicit rate, and therefore the Company uses its incremental borrowing rate as the discount rate when measuring operating lease liabilities. The incremental borrowing rate represents an estimate of the interest rate the Company would incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis over the term of a lease. The Company used incremental borrowing rates as of April 1, 2019 for operating leases that commenced prior to that date. The Company estimated its incremental borrowing rate based on its credit quality, line of credit agreement and by comparing interest rates available in the market for similar borrowings. The Company used a discount rate of 6.25% at June 30, 2020.


The following table reconciles the undiscounted future minimum lease payments (displayed by year and in the aggregate) under non-cancelable operating leases with terms of more than one year to the total lease liabilities recognized on the unaudited condensed consolidated balance sheet as of June 30, 2020:


Remaining payments 2021

  $ 170,910  

2022

    93,381  

Total undiscounted future minimum lease payments

    264,291  

Less: Difference between undiscounted lease payments and discounted lease liabilities

    (10,001

)

Present value of net minimum lease payments

    254,290  

Less current portion

    (217,643

)

Operating lease liabilities – long-term

  $ 36,647  

Total rent expense for the three months ended June 30, 2020 was $90,921 as compared to $86,291 for the three months ended June 30, 2019.


XML 30 R19.htm IDEA: XBRL DOCUMENT v3.20.2
Litigation
3 Months Ended
Jun. 30, 2020
Disclosure Text Block Supplement [Abstract]  
Legal Matters and Contingencies [Text Block]

Note 12 – Litigation


Contingencies are recorded in the unaudited condensed consolidated financial statements when it is probable that a liability will be incurred and the amount of the loss is reasonably estimable, or otherwise disclosed, in accordance with Accounting Standards Codification 450, Contingencies (ASC 450). Significant judgment is required in both the determination of probability and the determination as to whether a loss is reasonably estimable. In the event the Company determines that a loss is not probable, but is reasonably possible, and it becomes possible to develop what the Company believes to be a reasonable range of possible loss, then the Company will include disclosures related to such matter as appropriate and in compliance with ASC 450. To the extent there is a reasonable possibility that the losses could exceed the amounts already accrued, the Company will, when applicable, adjust the accrual in the period the determination is made, disclose an estimate of the additional loss or range of loss or if the amount of such adjustment cannot be reasonably estimated, disclose that an estimate cannot be made.


On March 24, 2009, Aeroflex Wichita, Inc. (“Aeroflex”) filed a petition against the Company and two of its employees in the District Court located in Sedgwick County, Kansas, Case No. 09 CV 1141 (the “Aeroflex Action”), alleging that the Company and its two employees misappropriated Aeroflex’s proprietary technology in connection with the Company winning a substantial contract from the U.S. Army, to develop new Mode-5 radar test sets and kits to upgrade the existing TS-4530 radar test sets to Mode 5 (the “Award”). Aeroflex’s petition, seeking injunctive relief and damages, alleges that in connection with the Award, the Company and its named employees misappropriated Aeroflex’s trade secrets; tortiously interfered with Aeroflex’s business relationship; conspired to harm Aeroflex and tortiously interfered with Aeroflex’s contract. The central basis of all the claims in the Aeroflex Action is that the Company misappropriated and used Aeroflex proprietary technology and confidential information in winning the Award.  In February 2009, subsequent to the Company winning the Award, Aeroflex filed a protest of the Award with the Government Accounting Office (“GAO”). In its protest, Aeroflex alleged, inter alia, that the Company used Aeroflex’s proprietary technology in order to win the Award, the same material allegations as were later alleged in the Aeroflex Action. On or about March 17, 2009, the U.S. Army Contracts Attorney and the U.S. Army Contracting Officer each filed a statement with the GAO, expressly rejecting Aeroflex’s allegations that the Company used or infringed on Aeroflex’s proprietary technology in winning the Award, and concluding that the Company had used only its own proprietary technology. On April 6, 2009, Aeroflex withdrew its protest.


In December 2009, the Kansas District Court dismissed the Aeroflex Action on jurisdiction grounds. Aeroflex appealed this decision. In May 2012, the Kansas Supreme Court reversed the decision and remanded the Aeroflex Action to the Kansas District Court for further proceedings. The case then entered an extended discovery period in the District Court.


On May 23, 2016, the Company filed a motion for summary judgment based on Aeroflex’s lack of jurisdictional standing to bring the case. The motion asserts that Aeroflex does not own the intellectual property at issue since it is a bare licensee of Northrop Grumman. Northrop Grumman has declined to join this suit as plaintiff. The motion asserted Aeroflex lacks standing to sue alone. Also, the motion raises the fact that Aeroflex allowed the license to expire, Aeroflex’s claims are either moot or Aeroflex lacks standing to sue for damages alleged to have accrued after the license ended in 2011. The motion for summary judgment was denied.


The Aeroflex trial on remand in the Kansas District Court began in March 2017. After a nine-week trial, the jury rendered its verdict. The jury found no misappropriation of Aeroflex trade secrets but found that the Company tortiously interfered with a prospective business opportunity and awarded damages of $1.3 million for lost profits. The jury also ruled that Tel tortiously interfered with Aeroflex’s non-disclosure agreements with two former Aeroflex employees and awarded damages of $1.5 million for lost profits, resulting in total damages against the Company of $2.8 million. The jury also found that the former Aeroflex employees breached their non-disclosure agreements with Aeroflex and awarded damages against these two individuals totaling $525,000. The jury also decided that punitive damages should be allowed against the Company.


Following the verdict, the Company filed a motion for judgment as a matter of law. In the motion, the Company renewed its motion for judgment on Aeroflex’s tortious interference with prospective business opportunity claim arguing that such claim is barred by the statute of limitations. Alternatively, the motion asserts there is insufficient evidence supporting the lost profit award on that claim.  Additionally, the motion for judgment addresses inconsistency between the awards against the former Aeroflex employees for breach of the non-disclosure agreements and the award against the Company for interfering with those agreements. Alternatively, the motion asserts there is insufficient evidence supporting the lost profit award on that claim.


During July 2017, the Court heard the Company’s motion for judgment as well as conducting a hearing as to the amount of a punitive damages award. Kansas statutes limit punitive damages to a maximum of $5 million.


Aeroflex submitted a motion to the Court requesting that the judge award punitive damages at the maximum $5 million amount. In October 2017, the Court denied the Company’s motions and awarded Aeroflex an additional $2.1 million of punitive damages, which brings the total Tel damages awarded in this case to approximately $4.9 million.


The Journal Entry of Judgment including judgment against the Company in the amount of $1.3 million for tortious interference with prospective business advantage, of $1.5 million for tortious interference with existing contracts, and $2.1 million in punitive damages was entered on November 22, 2017. Pursuant to K.S.A. 16-204(d) “any judgment rendered by a court of this state on or after July 1, 1986, shall bear interest on and after the day on which judgment is rendered at the rate provided by subsection (e). The Kansas Secretary of State publishes the rate amount. The amount published for July 1, 2017 through June 30, 2018 is 5.75% and 6.5% July 1, 2018 through June 30, 2019. The current rate beginning July 1, 2019 through June 30, 2020 is 7.0%. Interest on the $4,900,000 judgment started to accrue on November 22, 2017, the date the judgment was entered. As of June 30, 2020, the outstanding amount of the judgement and accrued interest is $5,732,693.


The Company filed post-trial motions to avoid damage duplication and inconsistency, and to secure judgment as a matter of law or a new trial. The trial court denied those motions. The Company appealed the verdict and the post-trial rulings to the Court of Appeals of the State of Kansas, Case No. 18-119,563. The Company posted a $2 million supersedeas bond. The Plaintiff filed a cross-appeal. The appeal and cross-appeal are fully briefed. The appellate court has not set a date to hear the appeal.


The Company is very optimistic about the prospects of its appeal for a judgment as a matter of law. The Company was hoping for a decision from the court this calendar year but this timing will likely be delayed due to the three-month COVID-19 related shutdown of the Kansas court system. As such, the appeal process is expected to take at least another year to complete.


The Company has the ability to settle this case at its sole discretion by withdrawing the appeal and paying the judgment plus interest amount.


Other than the matters outlined above, the Company is currently not involved in any litigation that we believe could have a material adverse effect on the Company’s financial condition or results of operations. There is no action, suit, proceeding, inquiry or investigation before any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge of executive officers of our Company, threatened against or affecting our Company, or our common stock in which an adverse decision could have a material effect.


XML 31 R20.htm IDEA: XBRL DOCUMENT v3.20.2
Accounting Policies, by Policy (Policies)
3 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
Basis of Accounting, Policy [Policy Text Block]

Basis of Presentation


In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary to present fairly the financial position of Tel-Instrument Electronics Corp. as of June 30, 2020, the results of operations and changes in stockholders’ equity (deficit) for the three months ended June 30, 2020 and June 30, 2019, and statements of cash flows for the three months ended June 30, 2020 and June 30, 2019.  These results are not necessarily indicative of the results to be expected for the full year.  The unaudited condensed consolidated financial statements have been prepared in accordance with the requirements of Form 10-Q and consequently do not include disclosures normally made in an Annual Report on Form 10-K.  The March 31, 2020 balance sheet included herein was derived from the audited financial statements included in the Company’s Annual Report on Form 10-K as of that date.  Accordingly, the unaudited condensed consolidated financial statements included herein should be reviewed in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2020, as filed with the United States Securities and Exchange Commission (the “SEC”) on June 29, 2020 (the “Annual Report”).

Revenue [Policy Text Block]

Revenue Recognition


The Company accounts for revenue recognition in accordance with ASC 606.The core principle of Topic 606 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. The ASU defines a five-step process to achieve the core principal and, in doing so, it is possible more judgement and estimates may be required within the revenue recognition process than are currently in use. 


The Company generates revenue from designing, manufacturing and selling avionic tests and measurement solutions for the global commercial air transport, general aviation, and government/military aerospace and defense markets. The Company also offers calibration and repair services for a wide range of airborne navigation and communication equipment. 


Under ASU 2014-09 Topic 606, Revenue from Contacts with Customers (“ASC 606”), the Company recognizes revenue when the customer obtains control of promised goods or services, in an amount that reflects the consideration which is expected to be received in exchange for those goods or services. The Company recognizes revenue following the five-step model prescribed under ASC 606: (i) identify contract(s) with a customer; (ii) identify the performance obligation(s) in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligation(s) in the contract; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied.


Nature of goods and services


The following is a description of the products and services from which the Company generates revenue, as well as the nature, timing of satisfaction of performance obligations, and significant payment terms for each.


Test Units/Sets


The Company develops and manufactures unit sets to test navigation and communication equipment, such as ramp testers and bench testers for equipment installed in aircraft. The Company recognizes revenue when the customer obtains control of the Company’s product based on the contractual shipping terms of the contract, which is usually at the time of shipment. Revenue on products are presented gross because the Company is primarily responsible for fulfilling the promise to provide the product, is responsible to ensure that the product is produced in accordance with the related supply agreement, and bears the risk of loss while the inventory is in-transit. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring products to the customer.


If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price based on the estimated relative standalone selling prices of the promised products or services underlying each performance obligation. The Company determines stand-alone selling prices based on the price at which the performance obligation is sold separately. If the stand-alone selling price is not observable through past transactions, the Company estimates the standalone selling price taking into account available information such as market conditions and internally approved pricing guidelines related to the performance obligations.


When determining the transaction price of a contract, an adjustment is made if payment from the customer occurs either significantly before or significantly after performance, resulting in a significant financing component. Applying the practical expedient in paragraph 606-10-32-18, the Company does not assess whether a significant financing component exists if the period between when the Company performs its obligations under the contract and when the customer pays is one year or less. None of the Company’s contracts contained a significant financing component as of June 30, 2020.


Replacement Parts


The Company offers replacement parts for test equipment, ramp testers, and bench testers. Similar to the sale of test units, the control of the product transfers at a point of time and therefore, revenue is recognized at the point in time when the obligation to the customer has been fulfilled.


Extended Warranties


The extended warranties sold by the Company provide a level of assurance beyond the coverage for defects that existed at the time of a sale or against certain types of covered damage with coverage terms generally ranging from 5 to 7 years. Amounts received for warranties are recorded as deferred revenue and recognized as revenue ratably over the respective term of the agreements. As of June 30, 2020, approximately $391,414 is expected to be recognized from remaining performance obligations for extended warranties as compared to $413,554 at March 31, 2020.  For the three months ended June 30, 2020, the Company recognized revenue of $22,140 from amounts that were included in Deferred Revenue as compared to $19,491 for the three months ended June 30, 2019.


The following table provides a summary of the changes in deferred revenues for the three months ended June 30, 2020:


Deferred revenues at April 1, 2020

  $ 413,554  

Additional extended warranties

    -  

Revenue recognized for the three months ended June 30, 2020

    (22,140

)

Deferred revenues at June 30, 2020

  $ 391,414  

Other Deferred Revenues


The Company sometimes receives payments in advance of shipment. These amounts are classified as other deferred revenues. For the periods ended June 30, 2020 and March 31, 2020, the Company has other deferred revenues of $10,059 and $58,746, respectively.


Repair and Calibration Services


The Company offers repair and calibration services for units that are returned for annual calibrations and/or for repairs after the warranty period has expired. The Company repairs and calibrates a wide range of airborne navigation and communication equipment. Revenue is recognized at the time the repaired or calibrated unit is shipped back to the customer, as it is at this time that the work is completed.


Other


The majority of the Company’s revenues are from contracts with the U.S. government, airlines, aircraft manufacturers, such as Boeing and Lockheed Martin, domestic distributors, international distributors for sales to military and commercial customers, and other commercial customers. The contracts with the U.S. government typically are subject to the Federal Acquisition Regulation (“FAR”) which provides guidance on the types of costs that are allowable in establishing prices for goods and services provided under U.S. government contracts.


Payment terms and conditions vary by contract, although terms generally include a requirement of payment within a range from 30 to 60 days, or in certain cases, up-front deposits. In circumstances where the timing of revenue recognition differs from the timing of invoicing, the Company has determined that the Company's contracts generally do not include a significant financing component. Payments received prior to the delivery of units or services performed are recorded as deferred revenues. Taxes collected from customers, which are subsequently remitted to governmental authorities, are excluded from sales. The Company applied the practical expedient to account for shipping and handling activities as fulfillment cost rather than as a separate performance obligation. Shipping and handling costs charged to customers are classified as sales, and the shipping and handling costs incurred are included in cost of sales. 


All sales are denominated in U.S. dollars.


The Company excludes from revenues all taxes assessed by a governmental authority that are imposed on the sale of its products and collected from customers.


The Company chose to apply the available practical expedient as commission eligible sales orders are fulfilled within less than one year and commissions are generally paid by the Company within 30 days of the related sales order fulfillment. Accordingly, management has determined that no change in accounting for costs to obtain a contract will be required for the Company to conform to ASC 606.


Disaggregation of revenue


In the following tables, revenue is disaggregated by revenue category.


   

For the Three Months Ended

June 30, 2020

 
   

Commercial

   

Government

 

Sales Distribution

               

Test Units

  $ 58,573     $ 2,563,277  
    $ 58,573     $ 2,563,277  

The remainder of our revenues for the three months ended June 30, 2020 are derived from repairs and calibration of $277,898, replacement parts of $16,070, extended warranties of $22,140 and other revenues of $1,479. We do not disaggregate these revenue streams as they are not deemed an important element related to how management operates the business between segments.


   

For the Three Months Ended

June 30, 2019

 
   

Commercial

   

Government

 

Sales Distribution

               

Test Units

  $ 295,923     $ 2,504,140  
    $ 295,923     $ 2,504,140  

The remainder of our revenues for the three months ended June 30, 2019 are derived from repairs and calibration of $403,365, replacement parts of $81,634, extended warranties of $19,491 and other revenues of $1,909. We do not disaggregate these revenue streams as they are not deemed an important element related to how management operates the business between segments.


In the following table, revenue is disaggregated by geography.


   

For the Three Months

Ended

June 30, 2020

   

For the Three Months

Ended

June 30, 2019

 

Geography

               

United States

  $ 1,714,599     $ 2,912,737  

International

    1,224,838       393,725  

 Total

  $ 2,939,437     $ 3,306,462  
New Accounting Pronouncements, Policy [Policy Text Block]

New Accounting Pronouncements


In June 2016, the FASB issued ASU No. 2016-13 Financial Instruments -Credit Losses (Topic 326), Measurement of Credit Losses on Financial Statements.  The amendment in this update replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses on instruments within its scope, including trade receivables. This update is intended to provide financial statement users with more decision-useful information about the expected credit losses. The effective date of the new standard has been deferred to April 1, 2023. We do not expect the adoption of this standard to have a significant impact on our financial position and results of operations.


In December 2019, the FASB issued ASU No. 2019-12, Income Taxes - simplifying the accounting for income taxes (Topic 740), which is meant to simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740, Income Taxes.  The amendment also improves consistent application and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance.  This ASU is effective April 1, 2021, and we do not expect the adoption of this standard to have a significant impact on our financial position and results of operations.


No other recently issued accounting pronouncements had or are expected to have a material impact on the Company’s unaudited condensed consolidated financial statements.

XML 32 R21.htm IDEA: XBRL DOCUMENT v3.20.2
Summary of Significant Accounting Policies (Tables)
3 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
Deferred Revenue, by Arrangement, Disclosure [Table Text Block]
The following table provides a summary of the changes in deferred revenues for the three months ended June 30, 2020:


Deferred revenues at April 1, 2020

  $ 413,554  

Additional extended warranties

    -  

Revenue recognized for the three months ended June 30, 2020

    (22,140

)

Deferred revenues at June 30, 2020

  $ 391,414  
Disaggregation of Revenue [Table Text Block]
In the following tables, revenue is disaggregated by revenue category.


   

For the Three Months Ended

June 30, 2020

 
   

Commercial

   

Government

 

Sales Distribution

               

Test Units

  $ 58,573     $ 2,563,277  
    $ 58,573     $ 2,563,277  
   

For the Three Months Ended

June 30, 2019

 
   

Commercial

   

Government

 

Sales Distribution

               

Test Units

  $ 295,923     $ 2,504,140  
    $ 295,923     $ 2,504,140  
Revenue from External Customers by Geographic Areas [Table Text Block]
In the following table, revenue is disaggregated by geography.


   

For the Three Months

Ended

June 30, 2020

   

For the Three Months

Ended

June 30, 2019

 

Geography

               

United States

  $ 1,714,599     $ 2,912,737  

International

    1,224,838       393,725  

 Total

  $ 2,939,437     $ 3,306,462  
XML 33 R22.htm IDEA: XBRL DOCUMENT v3.20.2
Accounts Receivable, net (Tables)
3 Months Ended
Jun. 30, 2020
Receivables [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]
The following table sets forth the components of accounts receivable:


   

June 30,

2020

   

March 31,

2020

 

Government

  $ 1,473,831     $ 1,095,131  

Commercial

    342,966       324,013  

Less: Allowance for doubtful accounts

    (7,500

)

    (7,500

)

    $ 1,809,297     $ 1,411,644  
XML 34 R23.htm IDEA: XBRL DOCUMENT v3.20.2
Inventories, net (Tables)
3 Months Ended
Jun. 30, 2020
Inventory Disclosure [Abstract]  
Schedule of Inventory, Current [Table Text Block]
Inventories consist of:


   

June 30,

2020

   

March 31,

2020

 
                 

Purchased parts

  $ 2,700,907     $ 3,011,072  

Work-in-process

    1,281,839       597,166  

Finished goods

    61,137       34,441  

Less: Inventory reserve

    (560,000

)

    (550,000

)

    $ 3,483,883     $ 3,092,679  
XML 35 R24.htm IDEA: XBRL DOCUMENT v3.20.2
Net Income per Share (Tables)
3 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
Net income per share has been computed according to Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC 260”), “Earnings per Share,” which requires a dual presentation of basic and diluted income per share (“EPS”). Basic EPS represents net income divided by the weighted average number of common shares outstanding during a reporting period. Diluted EPS reflects the potential dilution that could occur if securities, including preferred stock, warrants and options, were converted into common stock. The dilutive effect of outstanding warrants and options is reflected in earnings per share by use of the treasury stock method. The dilutive effect of preferred stock is reflected in earnings per share by use of the if-converted method. In applying the treasury stock method for stock-based compensation arrangements, the assumed proceeds are computed as the sum of the amount the employee must pay upon exercise and the amounts of average unrecognized compensation.


   

Three Months Ended

   

Three Months Ended

 
   

June 30, 2020

   

June 30, 2019

 

Basic net income per share computation:

               

  Net income

  $ 110,980     $ 257,776  

  Less: Preferred dividends

    (80,000

)

    (80,000

)

Net income attributable to common shareholders

    30,980       177,776  

  Weighted-average common shares outstanding

    3,255,887       3,255,887  

  Basic net income per share

  $ 0.01     $ 0.05  

Diluted net income per share computation

               

  Net income attributable to common shareholders

  $ 30,980     $ 177,776  

   Add: Preferred dividends

    -       80,000  

  Diluted income attributable to common shareholders

  $ 30,980     $ 257,776  

  Weighted-average common shares outstanding

    3,255,887       3,255,887  

  Incremental shares attributable to the assumed conversion of 

     preferred stock, and exercise of outstanding stock options and

     warrants

    -       1,659,778  

  Total adjusted weighted-average shares

    3,255,887       4,915,665  

 Diluted net income per share

  $ 0.01     $ 0.04  
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]
The following table summarizes securities that, if exercised, would have an anti-dilutive effect on earnings per share for the three months ended:


   

June 30, 2020

   

June 30, 2019

 

Convertible preferred stock

    1,779,778       -  

Stock options

    83,500       118,500  

Warrants

    -       50,000  
      1,863,278       168,500  
XML 36 R25.htm IDEA: XBRL DOCUMENT v3.20.2
Segment Information (Tables)
3 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
The tables below present information about reportable segments within the avionics business for the three months ending June 30, 2020 and 2019:


Three Months Ended

June 30, 2020

 

Avionics

Government

   

Avionics

Commercial

   

Avionics

Total

   

Corporate

Items

   

Total

 

Net sales

  $ 2,563,276     $ 376,161     $ 2,939,437     $ -     $ 2,939,437  

Cost of sales

    1,182,282       252,544       1,434,826       -       1,434,826  

Gross margin

    1,380,994       123,617       1,504,611       -       1,504,611  
                                         

Engineering, research, and development

                    631,953       -       631,953  

Selling, general and administrative

                    253,838       407,413       661,251  

Litigation costs

                    -       2,696       2,696  

Interest income

                    -       (2,846

)

    (2,846

)

Other income

                    -       (13,854

)

    (13,854

)

Interest expense - judgment

                    -       75,144       75,144  

Interest expense

                    -       9,780       9,780  

Total expenses

                    885,791       478,333       1,364,124  

Income (loss) before income taxes

                  $ 618,820     $ (478,333

)

  $ 140,487  

Three Months Ended

June 30, 2019

 

Avionics

Government

   

Avionics

Commercial

   

Avionics

Total

   

Corporate

Items

   

Total

 

Net sales

  $ 2,504,140     $ 802,322     $ 3,306,462     $ -     $ 3,306,462  

Cost of sales

    1,242,567       482,291       1,724,858       -       1,724,858  

Gross margin

    1,261,573       320,031       1,581,604       -       1,581,604  
                                         

Engineering, research, and development

                    525,103       -       525,103  

Selling, general and administrative

                    234,578       377,893       612,471  

Litigation costs

                    -       10,507       10,507  

Change in fair value of common stock warrants

                    -       78,500       78,500  

Interest income

                    -       (1,000

)

    (1,000

)

Interest expense - judgment

                    -       80,510       80,510  

Interest expense

                    -       17,737       17,737  

Total expenses

                    759,681       564,147       1,323,828  

Income (loss) before income taxes

                  $ 821,923     $ (564,147

)

  $ 257,776  
XML 37 R26.htm IDEA: XBRL DOCUMENT v3.20.2
Operating Lease Liability (Tables)
3 Months Ended
Jun. 30, 2020
Disclosure Text Block [Abstract]  
Lessee, Operating Lease, Liability, Maturity [Table Text Block]
The Company's leases generally do not provide an implicit rate, and therefore the Company uses its incremental borrowing rate as the discount rate when measuring operating lease liabilities. The incremental borrowing rate represents an estimate of the interest rate the Company would incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis over the term of a lease. The Company used incremental borrowing rates as of April 1, 2019 for operating leases that commenced prior to that date. The Company estimated its incremental borrowing rate based on its credit quality, line of credit agreement and by comparing interest rates available in the market for similar borrowings. The Company used a discount rate of 6.25% at June 30, 2020.


Remaining payments 2021

  $ 170,910  

2022

    93,381  

Total undiscounted future minimum lease payments

    264,291  

Less: Difference between undiscounted lease payments and discounted lease liabilities

    (10,001

)

Present value of net minimum lease payments

    254,290  

Less current portion

    (217,643

)

Operating lease liabilities – long-term

  $ 36,647  
XML 38 R27.htm IDEA: XBRL DOCUMENT v3.20.2
Business, Organization, and Liquidity (Details) - USD ($)
Jun. 30, 2020
Mar. 31, 2020
Jun. 30, 2019
Mar. 31, 2019
Accounting Policies [Abstract]        
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $ 5,195,339 $ 5,134,739 $ 2,987,329 $ 2,590,727
Restricted Cash, Current $ 2,000,000      
XML 39 R28.htm IDEA: XBRL DOCUMENT v3.20.2
Summary of Significant Accounting Policies (Details) - USD ($)
3 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Mar. 31, 2020
Summary of Significant Accounting Policies (Details) [Line Items]      
Extended Product Warranty Description The extended warranties sold by the Company provide a level of assurance beyond the coverage for defects that existed at the time of a sale or against certain types of covered damage with coverage terms generally ranging from 5 to 7 years.    
Extended Product Warranty Accrual $ 391,414   $ 413,554
Recognition of Deferred Revenue 22,140 $ 19,491  
Deferred Revenue and Credits, Current 10,059   $ 58,746
Revenues 2,939,437 3,306,462  
Repairs and Calibration [Member]      
Summary of Significant Accounting Policies (Details) [Line Items]      
Revenues 277,898 403,365  
Replacement Parts [Member]      
Summary of Significant Accounting Policies (Details) [Line Items]      
Revenues 16,070 81,634  
Extended Warranty [Member]      
Summary of Significant Accounting Policies (Details) [Line Items]      
Revenues 22,140 19,491  
Other Revenue [Member]      
Summary of Significant Accounting Policies (Details) [Line Items]      
Revenues $ 1,479 $ 1,909  
XML 40 R29.htm IDEA: XBRL DOCUMENT v3.20.2
Summary of Significant Accounting Policies (Details) - Deferred Revenue, by Arrangement, Disclosure
3 Months Ended
Jun. 30, 2020
USD ($)
Deferred Revenue, by Arrangement, Disclosure [Abstract]  
Deferred revenues related to extended warranties $ 413,554
Additional extended warranties 0
Revenue recognized (22,140)
Deferred revenues related to extended warranties $ 391,414
XML 41 R30.htm IDEA: XBRL DOCUMENT v3.20.2
Summary of Significant Accounting Policies (Details) - Disaggregation of Revenue - Test Units [Member] - USD ($)
3 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Commercial Customers [Member]    
Sales Distribution    
Revenues $ 58,573 $ 295,923
U.S. Government [Member]    
Sales Distribution    
Revenues $ 2,563,277 $ 2,504,140
XML 42 R31.htm IDEA: XBRL DOCUMENT v3.20.2
Summary of Significant Accounting Policies (Details) - Revenue from External Customers by Geographic Areas - USD ($)
3 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Geography    
Revenues $ 2,939,437 $ 3,306,462
UNITED STATES    
Geography    
Revenues 1,714,599 2,912,737
INTERNATIONAL    
Geography    
Revenues $ 1,224,838 $ 393,725
XML 43 R32.htm IDEA: XBRL DOCUMENT v3.20.2
Accounts Receivable, net (Details) - Schedule of Accounts, Notes, Loans and Financing Receivable - USD ($)
Jun. 30, 2020
Mar. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Less: Allowance for doubtful accounts $ (7,500) $ (7,500)
Total 1,809,297 1,411,644
Government Receivables [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts Receivable 1,473,831 1,095,131
Commercial Receivables [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts Receivable $ 342,966 $ 324,013
XML 44 R33.htm IDEA: XBRL DOCUMENT v3.20.2
Restricted Cash to Support Appeal Bond (Details)
$ in Millions
Jun. 30, 2020
USD ($)
Cash and Cash Equivalents [Abstract]  
Restricted Cash, Current $ 2
XML 45 R34.htm IDEA: XBRL DOCUMENT v3.20.2
Inventories, net (Details) - Schedule of Inventory, Current - USD ($)
Jun. 30, 2020
Mar. 31, 2020
Schedule of Inventory, Current [Abstract]    
Purchased parts $ 2,700,907 $ 3,011,072
Work-in-process 1,281,839 597,166
Finished goods 61,137 34,441
Less: Allowance for obsolete inventory (560,000) (550,000)
Inventory, net $ 3,483,883 $ 3,092,679
XML 46 R35.htm IDEA: XBRL DOCUMENT v3.20.2
Net Income per Share (Details) - Schedule of Earnings Per Share, Basic and Diluted - USD ($)
3 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Basic net income per share computation:    
Net income $ 110,980 $ 257,776
Preferred dividends (80,000) (80,000)
Net loss attributable to common shareholders 30,980 177,776
Preferred dividends 80,000 80,000
Diluted income attributable to common shareholders $ 30,980 $ 257,776
Weighted-average common shares outstanding (in Shares) 3,255,887 3,255,887
Incremental shares attributable to the assumed conversion of preferred stock, and exercise of outstanding stock options and warrants (in Shares) 0 1,659,778
Total adjusted weighted-average shares (in Shares) 3,255,887 4,915,665
Diluted net income per share (in Dollars per share) $ 0.01 $ 0.04
Basic net income per share (in Dollars per share) $ 0.01 $ 0.05
XML 47 R36.htm IDEA: XBRL DOCUMENT v3.20.2
Net Income per Share (Details) - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share - shares
3 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Anti-dilutive securities 1,863,278 168,500
Convertible Preferrred Stock [Member]    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Anti-dilutive securities 1,779,778 0
Share-based Payment Arrangement, Option [Member]    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Anti-dilutive securities 83,500 118,500
Warrant [Member]    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Anti-dilutive securities 0 50,000
XML 48 R37.htm IDEA: XBRL DOCUMENT v3.20.2
Line of Credit (Details) - USD ($)
1 Months Ended
Jun. 30, 2019
Jun. 30, 2020
Mar. 31, 2020
Line of Credit (Details) [Line Items]      
Line of Credit Facility, Maximum Borrowing Capacity     $ 690,000
Long-term Line of Credit   $ 680,000 $ 680,000
Line of Credit Facility, Remaining Borrowing Capacity   $ 10,000  
Line of Credit [Member]      
Line of Credit (Details) [Line Items]      
Line of Credit Facility, Collateral The line is collateralized by substantially all of the assets of the Company.    
Line of Credit Facility, Interest Rate at Period End   3.94%  
XML 49 R38.htm IDEA: XBRL DOCUMENT v3.20.2
SBA PPP Loan (Details)
May 04, 2020
USD ($)
Debt Disclosure [Abstract]  
Borrowings under Guaranteed Investment Agreements $ 722,577
Debt Instrument, Interest Rate, Stated Percentage 1.00%
Debt Instrument, Payment Terms Monthly principal and interest payments are deferred for six months after the date of disbursement.
XML 50 R39.htm IDEA: XBRL DOCUMENT v3.20.2
Segment Information (Details)
3 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Number of Reportable Segments 2
XML 51 R40.htm IDEA: XBRL DOCUMENT v3.20.2
Segment Information (Details) - Schedule of Segment Reporting Information, by Segment - USD ($)
3 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Segment Reporting Information [Line Items]    
Net sales $ 2,939,437 $ 3,306,462
Cost of Sales 1,434,826 1,724,858
Gross Margin 1,504,611 1,581,604
Engineering, research, and Development 631,953 525,103
Selling, general, and administrative 661,251 612,471
Litigation expenses 2,696 10,507
Change in fair value of common stock warrant 0 78,500
Interest income (2,846) (1,000)
Other income (13,854) 0
Interest expense - judgment 75,144 80,510
Interest expense, net 9,780 17,737
Total expenses 1,364,124 1,323,828
Income (loss) before income taxes 140,487 257,776
Avionics Government [Member]    
Segment Reporting Information [Line Items]    
Net sales 2,563,276 2,504,140
Cost of Sales 1,182,282 1,242,567
Gross Margin 1,380,994 1,261,573
Avionics Commercial [Member]    
Segment Reporting Information [Line Items]    
Net sales 376,161 802,322
Cost of Sales 252,544 482,291
Gross Margin 123,617 320,031
Avionics Total [Member]    
Segment Reporting Information [Line Items]    
Net sales 2,939,437 3,306,462
Cost of Sales 1,434,826 1,724,858
Gross Margin 1,504,611 1,581,604
Engineering, research, and Development 631,953 525,103
Selling, general, and administrative 253,838 234,578
Litigation expenses 0 0
Change in fair value of common stock warrant   0
Interest income 0 0
Other income 0  
Interest expense - judgment 0 0
Interest expense, net 0 0
Total expenses 885,791 759,681
Income (loss) before income taxes 618,820 821,923
Corporate Segment [Member]    
Segment Reporting Information [Line Items]    
Net sales 0 0
Cost of Sales 0 0
Gross Margin 0 0
Engineering, research, and Development 0 0
Selling, general, and administrative 407,413 377,893
Litigation expenses 2,696 10,507
Change in fair value of common stock warrant   78,500
Interest income (2,846) (1,000)
Other income (13,854)  
Interest expense - judgment 75,144 80,510
Interest expense, net 9,780 17,737
Total expenses 478,333 564,147
Income (loss) before income taxes $ (478,333) $ (564,147)
XML 52 R41.htm IDEA: XBRL DOCUMENT v3.20.2
Income Taxes (Details) - USD ($)
Jun. 30, 2020
Mar. 31, 2020
Income Taxes (Details) [Line Items]    
Deferred Income Tax Assets, Net $ 2,650,890 $ 2,712,780
Domestic Tax Authority [Member]    
Income Taxes (Details) [Line Items]    
Operating Loss Carryforwards $ 4,000,000  
XML 53 R42.htm IDEA: XBRL DOCUMENT v3.20.2
Operating Lease Liability (Details) - USD ($)
3 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating Lease Liability (Details) [Line Items]    
Lessee, Operating Lease, Discount Rate 6.25%  
Operating Leases, Rent Expense $ 90,921 $ 86,291
Building [Member]    
Operating Lease Liability (Details) [Line Items]    
Operating Leases, Future Minimum Payments Due 18,467  
Equipment [Member]    
Operating Lease Liability (Details) [Line Items]    
Operating Leases, Future Minimum Payments Due $ 523  
XML 54 R43.htm IDEA: XBRL DOCUMENT v3.20.2
Operating Lease Liability (Details) - Lessee, Operating Lease, Liability, Maturity - USD ($)
Jun. 30, 2020
Mar. 31, 2020
Lessee, Operating Lease, Liability, Maturity [Abstract]    
Remaining payments 2021 $ 170,910  
2022 93,381  
Total undiscounted future minimum lease payments 264,291  
Less: Difference between undiscounted lease payments and discounted lease liabilities (10,001)  
Present value of net minimum lease payments 254,290  
Less current portion (217,643) $ (214,793)
Operating lease liabilities – long-term $ 36,647 $ 91,947
XML 55 R44.htm IDEA: XBRL DOCUMENT v3.20.2
Litigation (Details) - Aeroflex [Member] - USD ($)
$ in Millions
1 Months Ended 7 Months Ended 9 Months Ended 12 Months Ended
Nov. 22, 2017
Jan. 31, 2018
Jun. 30, 2018
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Litigation (Details) [Line Items]            
Loss Contingency, Damages Awarded, Value           $ 4.9
Litigation Case, Interest Rate on Damages Awarded     5.75% 7.00% 6.50%  
Loss Contingency, Damages Sought   As such, the appeal process is expected to take at least another year to complete. The Company has the ability to settle this case at its sole discretion by withdrawing the appeal and paying the judgment plus interest amount.        
Business Opportunity [Member]            
Litigation (Details) [Line Items]            
Loss Contingency, Damages Awarded, Value $ 1.3          
Non-Disclosure Agreements [Member]            
Litigation (Details) [Line Items]            
Loss Contingency, Damages Awarded, Value 1.5          
Total Damages Award by Court [Member]            
Litigation (Details) [Line Items]            
Loss Contingency, Damages Awarded, Value $ 2.8          
Additional Punitive Damages [Member]            
Litigation (Details) [Line Items]            
Loss Contingency, Damages Awarded, Value           2.1
Loss Contingency, Damages Sought, Value           $ 5.0
EXCEL 56 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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ɤ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end XML 57 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 58 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 59 FilingSummary.xml IDEA: XBRL DOCUMENT 3.20.2 html 93 254 1 false 33 0 false 4 false false R1.htm 000 - Document - Document And Entity Information Sheet http://www.telinst.com/role/DocumentAndEntityInformation Document And Entity Information Cover 1 false false R2.htm 001 - Statement - Condensed Consolidated Balance Sheets Sheet http://www.telinst.com/role/ConsolidatedBalanceSheet Condensed Consolidated Balance Sheets Statements 2 false false R3.htm 002 - Statement - Condensed Consolidated Balance Sheets (Parentheticals) Sheet http://www.telinst.com/role/ConsolidatedBalanceSheet_Parentheticals Condensed Consolidated Balance Sheets (Parentheticals) Statements 3 false false R4.htm 003 - Statement - Condensed Consolidated Statements of Operations Sheet http://www.telinst.com/role/ConsolidatedIncomeStatement Condensed Consolidated Statements of Operations Statements 4 false false R5.htm 004 - Statement - Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) Sheet http://www.telinst.com/role/ShareholdersEquityType2or3 Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) Statements 5 false false R6.htm 005 - Statement - Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) (Parentheticals) Sheet http://www.telinst.com/role/ShareholdersEquityType2or3_Parentheticals Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) (Parentheticals) Statements 6 false false R7.htm 006 - Statement - Condensed Consolidated Statements of Cash Flows Sheet http://www.telinst.com/role/ConsolidatedCashFlow Condensed Consolidated Statements of Cash Flows Statements 7 false false R8.htm 007 - Disclosure - Business, Organization, and Liquidity Sheet http://www.telinst.com/role/BusinessOrganizationandLiquidity Business, Organization, and Liquidity Notes 8 false false R9.htm 008 - Disclosure - Summary of Significant Accounting Policies Sheet http://www.telinst.com/role/SummaryofSignificantAccountingPolicies Summary of Significant Accounting Policies Notes 9 false false R10.htm 009 - Disclosure - Accounts Receivable, net Sheet http://www.telinst.com/role/AccountsReceivablenet Accounts Receivable, net Notes 10 false false R11.htm 010 - Disclosure - Restricted Cash to Support Appeal Bond Sheet http://www.telinst.com/role/RestrictedCashtoSupportAppealBond Restricted Cash to Support Appeal Bond Notes 11 false false R12.htm 011 - Disclosure - Inventories, net Sheet http://www.telinst.com/role/Inventoriesnet Inventories, net Notes 12 false false R13.htm 012 - Disclosure - Net Income per Share Sheet http://www.telinst.com/role/NetIncomeperShare Net Income per Share Notes 13 false false R14.htm 013 - Disclosure - Line of Credit Sheet http://www.telinst.com/role/LineofCredit Line of Credit Notes 14 false false R15.htm 014 - Disclosure - SBA PPP Loan Sheet http://www.telinst.com/role/SBAPPPLoan SBA PPP Loan Notes 15 false false R16.htm 015 - Disclosure - Segment Information Sheet http://www.telinst.com/role/SegmentInformation Segment Information Notes 16 false false R17.htm 016 - Disclosure - Income Taxes Sheet http://www.telinst.com/role/IncomeTaxes Income Taxes Notes 17 false false R18.htm 017 - Disclosure - Operating Lease Liability Sheet http://www.telinst.com/role/OperatingLeaseLiability Operating Lease Liability Notes 18 false false R19.htm 018 - Disclosure - Litigation Sheet http://www.telinst.com/role/Litigation Litigation Notes 19 false false R20.htm 019 - Disclosure - Accounting Policies, by Policy (Policies) Sheet http://www.telinst.com/role/AccountingPoliciesByPolicy Accounting Policies, by Policy (Policies) Policies http://www.telinst.com/role/SummaryofSignificantAccountingPolicies 20 false false R21.htm 020 - Disclosure - Summary of Significant Accounting Policies (Tables) Sheet http://www.telinst.com/role/SummaryofSignificantAccountingPoliciesTables Summary of Significant Accounting Policies (Tables) Tables http://www.telinst.com/role/SummaryofSignificantAccountingPolicies 21 false false R22.htm 021 - Disclosure - Accounts Receivable, net (Tables) Sheet http://www.telinst.com/role/AccountsReceivablenetTables Accounts Receivable, net (Tables) Tables http://www.telinst.com/role/AccountsReceivablenet 22 false false R23.htm 022 - Disclosure - Inventories, net (Tables) Sheet http://www.telinst.com/role/InventoriesnetTables Inventories, net (Tables) Tables http://www.telinst.com/role/Inventoriesnet 23 false false R24.htm 023 - Disclosure - Net Income per Share (Tables) Sheet http://www.telinst.com/role/NetIncomeperShareTables Net Income per Share (Tables) Tables http://www.telinst.com/role/NetIncomeperShare 24 false false R25.htm 024 - Disclosure - Segment Information (Tables) Sheet http://www.telinst.com/role/SegmentInformationTables Segment Information (Tables) Tables http://www.telinst.com/role/SegmentInformation 25 false false R26.htm 025 - Disclosure - Operating Lease Liability (Tables) Sheet http://www.telinst.com/role/OperatingLeaseLiabilityTables Operating Lease Liability (Tables) Tables http://www.telinst.com/role/OperatingLeaseLiability 26 false false R27.htm 026 - Disclosure - Business, Organization, and Liquidity (Details) Sheet http://www.telinst.com/role/BusinessOrganizationandLiquidityDetails Business, Organization, and Liquidity (Details) Details http://www.telinst.com/role/BusinessOrganizationandLiquidity 27 false false R28.htm 027 - Disclosure - Summary of Significant Accounting Policies (Details) Sheet http://www.telinst.com/role/SummaryofSignificantAccountingPoliciesDetails Summary of Significant Accounting Policies (Details) Details http://www.telinst.com/role/SummaryofSignificantAccountingPoliciesTables 28 false false R29.htm 028 - Disclosure - Summary of Significant Accounting Policies (Details) - Deferred Revenue, by Arrangement, Disclosure Sheet http://www.telinst.com/role/DeferredRevenuebyArrangementDisclosureTable Summary of Significant Accounting Policies (Details) - Deferred Revenue, by Arrangement, Disclosure Details http://www.telinst.com/role/SummaryofSignificantAccountingPoliciesTables 29 false false R30.htm 029 - Disclosure - Summary of Significant Accounting Policies (Details) - Disaggregation of Revenue Sheet http://www.telinst.com/role/DisaggregationofRevenueTable Summary of Significant Accounting Policies (Details) - Disaggregation of Revenue Details http://www.telinst.com/role/SummaryofSignificantAccountingPoliciesTables 30 false false R31.htm 030 - Disclosure - Summary of Significant Accounting Policies (Details) - Revenue from External Customers by Geographic Areas Sheet http://www.telinst.com/role/RevenuefromExternalCustomersbyGeographicAreasTable Summary of Significant Accounting Policies (Details) - Revenue from External Customers by Geographic Areas Details http://www.telinst.com/role/SummaryofSignificantAccountingPoliciesTables 31 false false R32.htm 031 - Disclosure - Accounts Receivable, net (Details) - Schedule of Accounts, Notes, Loans and Financing Receivable Notes http://www.telinst.com/role/ScheduleofAccountsNotesLoansandFinancingReceivableTable Accounts Receivable, net (Details) - Schedule of Accounts, Notes, Loans and Financing Receivable Details http://www.telinst.com/role/AccountsReceivablenetTables 32 false false R33.htm 032 - Disclosure - Restricted Cash to Support Appeal Bond (Details) Sheet http://www.telinst.com/role/RestrictedCashtoSupportAppealBondDetails Restricted Cash to Support Appeal Bond (Details) Details http://www.telinst.com/role/RestrictedCashtoSupportAppealBond 33 false false R34.htm 033 - Disclosure - Inventories, net (Details) - Schedule of Inventory, Current Sheet http://www.telinst.com/role/ScheduleofInventoryCurrentTable Inventories, net (Details) - Schedule of Inventory, Current Details http://www.telinst.com/role/InventoriesnetTables 34 false false R35.htm 034 - Disclosure - Net Income per Share (Details) - Schedule of Earnings Per Share, Basic and Diluted Sheet http://www.telinst.com/role/ScheduleofEarningsPerShareBasicandDilutedTable Net Income per Share (Details) - Schedule of Earnings Per Share, Basic and Diluted Details http://www.telinst.com/role/NetIncomeperShareTables 35 false false R36.htm 035 - Disclosure - Net Income per Share (Details) - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share Sheet http://www.telinst.com/role/ScheduleofAntidilutiveSecuritiesExcludedfromComputationofEarningsPerShareTable Net Income per Share (Details) - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share Details http://www.telinst.com/role/NetIncomeperShareTables 36 false false R37.htm 036 - Disclosure - Line of Credit (Details) Sheet http://www.telinst.com/role/LineofCreditDetails Line of Credit (Details) Details http://www.telinst.com/role/LineofCredit 37 false false R38.htm 037 - Disclosure - SBA PPP Loan (Details) Sheet http://www.telinst.com/role/SBAPPPLoanDetails SBA PPP Loan (Details) Details http://www.telinst.com/role/SBAPPPLoan 38 false false R39.htm 038 - Disclosure - Segment Information (Details) Sheet http://www.telinst.com/role/SegmentInformationDetails Segment Information (Details) Details http://www.telinst.com/role/SegmentInformationTables 39 false false R40.htm 039 - Disclosure - Segment Information (Details) - Schedule of Segment Reporting Information, by Segment Sheet http://www.telinst.com/role/ScheduleofSegmentReportingInformationbySegmentTable Segment Information (Details) - Schedule of Segment Reporting Information, by Segment Details http://www.telinst.com/role/SegmentInformationTables 40 false false R41.htm 040 - Disclosure - Income Taxes (Details) Sheet http://www.telinst.com/role/IncomeTaxesDetails Income Taxes (Details) Details http://www.telinst.com/role/IncomeTaxes 41 false false R42.htm 041 - Disclosure - Operating Lease Liability (Details) Sheet http://www.telinst.com/role/OperatingLeaseLiabilityDetails Operating Lease Liability (Details) Details http://www.telinst.com/role/OperatingLeaseLiabilityTables 42 false false R43.htm 042 - Disclosure - Operating Lease Liability (Details) - Lessee, Operating Lease, Liability, Maturity Sheet http://www.telinst.com/role/LesseeOperatingLeaseLiabilityMaturityTable Operating Lease Liability (Details) - Lessee, Operating Lease, Liability, Maturity Details http://www.telinst.com/role/OperatingLeaseLiabilityTables 43 false false R44.htm 043 - Disclosure - Litigation (Details) Sheet http://www.telinst.com/role/LitigationDetails Litigation (Details) Details http://www.telinst.com/role/Litigation 44 false false All Reports Book All Reports tikk-20200630.xml tikk-20200630.xsd tikk-20200630_cal.xml tikk-20200630_def.xml tikk-20200630_lab.xml tikk-20200630_pre.xml http://xbrl.sec.gov/country/2020-01-31 http://fasb.org/us-gaap/2020-01-31 http://fasb.org/srt/2020-01-31 http://xbrl.sec.gov/dei/2019-01-31 true true ZIP 61 0001185185-20-001214-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001185185-20-001214-xbrl.zip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end