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Never happen as long as there is so much international discourse. Too many contracts out for bids at present. As contracts get signed the PPS will improve.
Maybe bidding below $3.00. Could be something more than inventory/supply chain issues??
I hate to say it but a drop to $3.05 could happen with a coming market correction.
IF they have the inventory problem worked out, we should have the next qts. numbers by Aug. 15th.
They have to get the supply chain problems solved. Bullish long term, but could be dead money for the next qtr or two. TWT. HAWK
Great future laid out by all. Give it three quarters.
Just reviewed the C.C. on Seeking Alpha. Now we know why the numbers were late. Also, the one time write offs effect on bottom line. If the supply chain ever gets straightened out they will show nice profits. Margins around 17% and maybe higher next year. Best thing, Pete's back. HAWK
Numbers a little bit worse than expected, but NOT a disaster. Need to listen to the C.C. after market to get a better view of what the future will look like. HAWK
$AIRI - Up 11% Pre-Market/ Current Price $3.99
Receives Two Contracts Totaling $5.2 Million for US Navy E-2D Aircraft and F-35 Joint Strike Fighter Components
Numbers?? C.C. Wed. after market. Should be interesting.
Inventory problem should have been settled by now. Trying to get more info. IF they have to restated past earnings PPS is going to tumble. If I get any info I will post. HAWK
Numbers due today after market closes. I hope they are no worse than the same qtr. last year. Getting rid of that losing contract will help big time going forward. TWT. HAWK
Some good info on S.I. if anyone is interested. Just a FYI.
It's definitely about inventory. They have included a disclaimer in their filings. I heard they have a new supplier lined up. As I understand it the problem is with getting raw materials for turbine blades. They are a high margin product. Production shifted to other product so no down time. Also heard about another new machine. I'll see what I can find out next week. For now I am putting in below market bids. So far no shares bought. HAWK
Hawk, I'm speculating, but I believe their problem is with inventory, and potential raw materials from banned companies. You can read the filing where they disclosed that problem. They don't know how to account for their inventory. I think they are using the auditors as a scapegoat. The real problem is their suppliers can't definitively account for their sources. Me, I will stay on the sidelines and wait.
Getting frustrating. New auditors should be fired. Delays make company look bad. I will try to get some info. Will post updates when received. HAWK
Update. New machine coming in. No details. From Bloomberg today, about a 5 year backlog on new commercial airplanes. Same for the engines. Add in replacement parts for engines and AIRI backlog will grow. Also, could be as many as eight new helicopters coming. Add in spare parts for existing craft and AIRI backlog continues to grow. I speculated shares were put on the market to pay for new machine. Supply chain being fixed. IMHO, future looks bright. HAWK
Update from a friend. Dates now 19th or 20th. Reason is new auditors are being extra diligent after previous run in with SEC. So we just have to wait. No problem with AIRI. Just slow auditors.
Now showing Wed/Thurs next week. 14th or 15th. ???
Numbers, Wed/Thurs. Not long to wait. Hopefully things run smoother with new auditors going forward.
Have a good day Hawk. I'm just a sideliner for now and watching.
I see what you mean. My point is the end of year includes all Qs. Try calling the company. It looks like the 3 Mil. authorized will be or has been hit. PPS holding up fairly well considering. Somebody is buying those shares. I am waiting for a response from my friend. Asking the same questions you are asking. I'll post any info I get. HAWK
Hawk, respectfully you are missing my point. Their past 10Q's were all unaudited. You are talking about the 10K, which did need to be audited.
Very rarely do you see a small company file an audited 10Q, because they aren't required to, and it is expensive.
The company revealed in the last 10K, they would need to raise cash, and yes, I believe the recent volume is likely an equity raise by the company, although that is just my opinion.
The 10Q auditing statement is not my opinion, but based on fact.
While waiting for the auditors the company filed as "unaudited". So you are correct. To get clarification call the company. As for shares, I was just getting ready to call my friend about that. They had about 1 Million authorized so it could be they are selling those. Max shares is about 3 Million. I know you are not trying to be a jerk. If I came across too strong, my apologizes. I'll post if I get any info. Still, try calling the company and see if you can get thru. HAWK
Hawk, I'm not trying to be a jerk here, but they are feeding you line of crap. Look at their past 10Q's, they say right on them they are unaudited, and why would they be? 10Q's don't have to be audited by independent auditors. Look it up if you don't believe me.
Also, where are the shares coming from for all the volume pre and after market? The stock only has about 2 million in the public float? That is something you should be asking, if you are a shareholder. If it was happening from existing shares, you would see some drastic movement in price up or down.
Not sure what you are talking about. Numbers ARE audited. Info I have is that the old auditor was bought out. New guys picked the largest customer to review processes. They will be up to date next week per my last post. Have you called the company? Give it a try and let everyone know what you learn. TIA for any info. HAWK
A friend told me they are 2 weeks late on their 10Q and out of compliance with the NYSE Am again. You are waiting on a quarterly report, which is almost always unaudited. How is it they are blaming the auditors, when these numbers don't have to be audited?
From a friend. Numbers should be out towards the end of next week. Delay due to new auditors. Nothing wrong with the company and there will be no restating of earnings. Hope all this is true. Still problems with supply chain. Shortage of raw material for one product. Production of other products will be moved up. Should be no down time. HAWK
AIRI>>>> More than 10X avg. daily volume today. Price UP. Usually a sign of good news on the way. TWT. HAWK
SEC filings by mgmt. Just a FYI.
As predicted. Q1 numbers close.
Lol!!! New contracts!! New contracts!! They’re coming!! Put in some more lowball bids!!! Odds are very much in your favor you’ll get those lowball bids. Some people never learn.
Tested at $3.50 a couple of times and HELD. Q1 due in a week or two. I've bought at $3.50 a couple of times. 100 share lots seems to do it. New Lockheed contracts will be coming out soon. I seem to have seen $1.5 BILLION as the latest. AIRI will get more work. HAWK
Looks like a test of the 52 week low. Would love to see a double bottom and then a run to new 52 week highs. HAWK
From a friend. 2022 numbers will be final and out next week. Q1 2023 will follow soon after. New auditors caused delay, no problems other than the know "supply chain" issues. PPS looking better. FYI. HAWK
$AIRI It's growing now, just get rid of the small industry environment, give importance to quality, high quality production, too much production, go to the order of giant companies, get yourself in order, if you don't do it this way, this business can't make a profit. ·
Just a blip on the way to predictable earnings and more contracts. If anyone bothered to read, the financials are late due to hiring of a new accounting company. I have been buying more on the dips. No worries as per a friends call to management.
Brian, time will tell, whether it was a good move. However, when a company can't get their financials out on time, it suggests the company is not being run efficiently. Further, it not only puts them out of compliance with the NYSE AM, but it also puts them out of compliance with their credit line at Webster Bank. To much for me to ignore.
The Pentagon has awarded Lockheed Martin a $7.8 billion contract for the production of 126 new F-35 fighter jets.
Air Industries Group Receives Notice from NYSE American Regarding Late Filing of Annual Report on Form 10-K.
They were probably just busy getting all those new contracts in order. Lol!!!
Lol!!! Good luck with that!!!
Agree, the Best Buy in the market. Buy before it takes off when new contracts are signed.
You should buy more!! New contracts on the way!! NASA, submarine contracts!! Also remember you told us about pre-Covid levels being so high!! It’s probably just a supply chain issues again like you’ve been telling us for about years now. The wait will probably pay off next earnings report. The only thing you can do is buy as much as you can at these discount prices.
Smart thinking. Better late than $0.00
Looks like strong support at the $3.50 area. Unaudited numbers out did not seem to affect PPS negatively. Could be all the bad news is built into the current PPS. I'll wait for final "audited" numbers before I make any moves buying or selling. HAWK
I'm no longer holding this stock, but if I was, I would be very concerned about their inability to file financial results on time. They haven't released actual financial results since the third quarter of 2022.. This situation is almost never a good thing for shareholders.
AIRI, holding up well considering the recent news. HAWK
Thanks, I'm checking it out now. I may see you over on that board, if I can get a good entry point.
Correction, 4th quarter revenues were 13.9 million. I was going by memory, and should have used a pencil.:)
What interests me as much as AIRI is LINC, a vocational trade school. LINC could be a slightly better business than AIRI. And I noticed they added a Tesla Auto Repair curriculum. With a sponsorship from Tesla.
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THE PURPOSE OF THIS BOARD IS TO HAVE "FACT" BASED INFORMATION ABOUT "AIRI"
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Board of Directors
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631-968-5000
Transfer Agent
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Audit Committee
Michael Porcelain
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Email: Michael.Porcelain@AirIndustriesGroup.com
Investor Relations
Air Industries Group Corporate Office
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Email: IR@airindustriesgroup.com
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