Air Industries Group (AIRI)

[SilentWolf]

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?

[gladeshawk]

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

[gladeshawk]

AIRI>>>> More than 10X avg. daily volume today. Price UP. Usually a sign of good news on the way. TWT. HAWK

[gladeshawk]

SEC filings by mgmt. Just a FYI.

[gladeshawk]

As predicted. Q1 numbers close.

[Brian Smith]

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.

[gladeshawk]

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

[gladeshawk]

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

[gladeshawk]

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

[Hasy1]

$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. ·

[Hasy1]

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.

[SilentWolf]

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.

[Hasy1]

The Pentagon has awarded Lockheed Martin a $7.8 billion contract for the production of 126 new F-35 fighter jets.

[Brian Smith]

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!!!

[Brian Smith]

Lol!!! Good luck with that!!!

[Hasy1]

Agree, the Best Buy in the market. Buy before it takes off when new contracts are signed.

[Brian Smith]

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.

[Brian Smith]

Smart thinking. Better late than $0.00

[gladeshawk]

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

[SilentWolf]

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.

[gladeshawk]

AIRI, holding up well considering the recent news. HAWK

[SilentWolf]

Thanks, I'm checking it out now. I may see you over on that board, if I can get a good entry point.

[SilentWolf]

Correction, 4th quarter revenues were 13.9 million. I was going by memory, and should have used a pencil.:)

[surfer44]

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.

[surfer44]

Thanks for the report. It's kind of a tough business. Someone can easily scrap out a $50,000 chunk of metal. Or blow a whole order. I'm not in this for a big win but more of keeping track of the industry and nostalgia. Small position, but will add depending on circumstances.

[SilentWolf]

Just listened to the conference call. My key takeaways:

Full year revenue of about 53 million, representing approximately a 10% decline from 2021.

Revenue for 4th quarter approximately 13 million.

Supply chain shortages are still with them, and significantly impacting their production.

Large loss on one product due to poor cost estimation, (which explains why they are looking for a cost estimator on Linkedin). Loss on that product mostly accounted for in 2022, which was 850,000 dollars.

Old accounting firm merged with larger company, and they have different review processes, was the excuse given for 10k delay. Also, they are still trying to figure out how to account for old inventory.

They said they have a strong backlog of orders, but could not give projections on 2023, due to supply chain difficulties.

No information was given on earnings per share loss, only that there will be a loss.

They said their liquidity situation was good, and agreements with lending facilities was within the agreed upon parameters.

No mention of cash on hand or the need to raise capital.

(Disclaimer) I sold at the open today, and will watch what happens going forward. I think they are a good company with vital products, but they appear to be struggling with their supply chain, and that doesn't appear to be ending any time soon.

[gladeshawk]

I'm not liking this this delay. "Unaudited". C.C. should be interesting. HAWK

[SilentWolf]

10 k will be out sometime before April 17th. Tomorrow morning they will host a conference call to discuss unaudited company results.

[gladeshawk]

Update: Numbers to be out after market close. FYI.

[Hasy1]

Exactly why I bought more shares under $4.00

[gladeshawk]

It has been a long wait. Could be all the bad news is baked into the current PPS. I'm still sitting on a lot of cash. Would love to see some panic selling. TWT.

[SilentWolf]

I was hoping something would be out this morning. I am going to be away from internet service over the weekend. They have put their 10k out on the first of April in the past. Oh well, doubt I will be worried about it while I'm fishing:)

Have a good weekend

[gladeshawk]

Seems market believes good news is coming. Lowball shares are in the money.

[surfer44]

The turn. 'If Woodstock was the dream, Altamont was the nightmare'

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[surfer44]

60's history in a nutshell.

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[surfer44]

Quote from famous investor Jim Rogers. * But as always everyone should do their own dd and reach their own conclusions.

Years ago, Rogers famously noted that the 19th century belonged to Great Britain, the United States controlled the 20th century, and China would dominate the 21st century. But with stimulus the only mechanism that could bring the economy out of the doldrums of stagnation, will this century still belong to China?

“Look out the window, and you see what’s happened in this century. I mean, [China has] gone from nothing to the second largest or maybe the largest economy in the world,” Rogers told Liberty Nation, adding that there are going to be lots of problems, much like what happened to the United States before it became the superpower of the world.

[surfer44]

Amazing intel. In the video there is a reference to 100 years ago. That would be around the time of the Treaty of Versaille in 1919 where WW1 victors divvied up the world. Per the book "A Shattered Peace" by David Andelman.

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[surfer44]

In other words, be nice.

[surfer44]

Yes. But I'm concerned the U.S is heading in the wrong direction and it will be way worse. The U.S past the civil war didn't really fracture until the 1960's. Now everyone is a professional at it. It's amazing that one of the only things both parties agree on is Russia/Ukraine and to a lesser extent China/Taiwan.

And to remind people, Russia and China are not North Vietnam, North Korea, Afghanistan, or Iraq. It is one land mass with 1.6 Billion people. Armed with nukes.

[SilentWolf]

The 60's and early 70's was very turbulent. When I hear people talking about civil unrest today, and how it's at the worst our country has seen, I have to chuckle. They obviously forgot about the Civil War, Civil Rights, the Vietnam War, and the Great Depression.

[surfer44]

The 60's a most turbulent time. I grew up watching it on T.V....

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[surfer44]

And diplomacy!!!!

[surfer44]

Peace through strength. AIRI

[Brian Smith]

Wow!! All the real low ball bids are coming in now. Have no fear it should be back to pre-reverse split prices soon. I guess all those contracts in the works and pre-Covid price per share levels really didn’t matter after all. I seem to remember somebody saying something like that months ago. The best advice I could give on this one is put In the very, very, very low ball bids that way your money lasts a little longer.

[gladeshawk]

Looks like earnings will be out "pre" market Friday. Most likely a C.C. to follow. Just a FYI.

[surfer44]

Investing principles learned from the movies

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[surfer44]

I'm not loading up on this one. Slightly undervalued vs. my other stocks which are very undervalued. This is more a growth stock (GARP).

[gladeshawk]

I expect a PR on earnings release late Thursday or Friday. Just a FYI. HAWK

[gladeshawk]

I can only PM during happy hour. Just a FYI. Numbers most likely on Friday. Just heard from a friend raw material shortage is the problem for one contract item. Others are all ok. I think the PPS will drop further on the shortage news. I will only buy with below market bids. Just a FYI. HAWK

[gladeshawk]

A Friday release will not be a good thing, imho. I'm on hold with any buying. HAWK