Air industries group (AIRI)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (Loss)

-2,732

-10,992

-22,551

-15,623

-832

667

3,739

2,548

2,247

Adjustments to reconcile net income (loss) to net cash used in in operating activities
Depreciation of property and equipment

3,002

2,877

2,723

3,347

3,090

2,364

1,709

1,557

1,503

Bad debt expense

-

-

-

-

-

-

-

-

427

Non-cash employee compensation expense

378

293

332

-

100

42

38

101

131

Non-cash directors compensation

244

305

-

-

-

-

-

-

-

Legal expenses paid by issuance of stock

126

200

-

-

-

-

-

-

-

Non-cash employee compensation expense

-

-

-

167

-

-

-

-

-

Non-cash directors compensation

-

-

232

0

-

-

-

-

-

Non-cash other income recognized

-282

-

-

-

-

-

-

-

-

Non-cash interest expense

85

-

-

-

-

-

-

-

-

Abandonment of lease

-275

-

-

-

-

-

-

-

-

Amortization of Right-of-Use Asset

470

-

-

-

-

-

-

-

-

Deferred gain on sale of real estate

38

38

38

-

-

-

-

-

-

(Gain) loss on sale of equipment

-136

-

-

-

-

-

-

-

-

Loss on impairment of intangible assets - discontinued operations

-

-

1,085

0

-

-

-

-

-

Loss on Assets Held for Sale

-

-

1,563

-

-

-

-

-

-

Loss on assets held for sale

-

-

-

0

-

-

-

-

-

Loss on sale of fixed assets held for sale

-

-

-

-5

0

-

-

-

-

(Gain) loss on sale of subsidiary

-

-

-

0

-

-

-

-

-

Deferred income taxes

-

-

-

2,063

-215

-1,043

-1,236

0

-

Loss on Extinguishment of Debt

-

-

-112

0

0

-

-

-

-

Amortization of debt discount on convertible notes payable

510

941

2,301

217

0

-

-

-

-

Amortization of intangible assets

-

-

673

1,279

1,262

1,163

1,163

693

168

Amortization of capitalized engineering costs

-

668

423

362

341

375

430

459

580

Loss on impairment of goodwill - continuing operations

-

-

6,195

0

-

-

-

-

-

Loss on impairment of goodwill - discontinued operations

-

-

3,417

0

-

-

-

-

-

Bad debt expense (recovery)

-

-

-

274

176

-299

-394

-80

-

Bad debt expense

311

49

87

-

-

-

-

-

-

Loss on impairment of goodwill - discontinued operations

-

-109

-

-

-

-

-

-

-

Amortization of deferred financing costs

-

212

267

371

204

49

69

52

136

Change in useful life of capitalized engineering costs

-

-2,043

-

-

-

-

-

-

-

Negative goodwill resulting from the bargain purchase acquisition

-

-

-

-

-

-

361

0

-

Deferred gain on sale of real estate

-

-

-

38

38

38

38

38

-38

Gain on sales of subsidiaries

-

-340

200

-

-

-

-

-

-

Loss on Assets Held for Sale

-

-386

-

-

-

-

-

-

-

Changes in Assets and Liabilities
Adjustments to Lease Impairment

-

-

-

-

-

-

-

-53

0

(Increase) Decrease in Operating Assets:
Assets held for sale - AMK Cash

-

-

-39

39

0

-

-

-

-

Accounts receivable

1,647

561

-1,004

-4,616

-91

2,417

-2,871

4,606

-2,088

Inventory

-405

-1,395

-905

2,902

8,412

1,646

-440

-1,136

-1,078

Prepaid expenses and other current assets

33

-39

-281

-394

748

244

-35

216

-123

Prepaid taxes

-49

-

-360

-126

0

-

-

-

-

Deposits and other assets

-713

-1,112

-113

-150

-18

-164

134

-132

57

Other Assets

-

-

-

-

-

-

-20

-51

-87

Increase (Decrease) in Operating Liabilities:
Accounts payable and accrued expenses

-970

-1,569

-3,527

4,495

3,593

-577

-892

-1,534

1,567

Operating Lease Liabilities

601

-

-

-

-

-

-

-

-

Income Taxes Payable

7

-

-

-

-

-

-

-

-

Deferred rent

-

3

34

82

29

45

75

82

174

Deferred revenue

130

2,076

410

84

540

-249

-

-

-

Income taxes payable

-

-

-

6

-57

-1,425

48

1,408

57

Customer Deposits

-

-

-

-

-

-

251

0

-

NET CASH USED IN OPERATING ACTIVITIES

-888

-2,336

-3,986

-692

-894

-2,799

8,889

1,694

3,633

CASH FLOWS FROM INVESTING ACTIVITIES
Cash paid for acquisition

-

-

-

-

-

-

-

-

0

Capitalized engineering costs

-

523

985

963

656

335

380

292

510

Purchase of property and equipment

764

1,264

1,514

1,632

1,564

571

288

1,059

778

Proceeds from sale of subsidiary

-

5,472

-

-

-

-

-

-

-

Proceeds from sale of subsidiary

-

-

4,260

-

-

-

-

-

-

Proceeds from the sale of fixed assets

-

-

-

1,671

0

-

-

-

-

Cash paid for acquisitions

-

-

-

-

6,945

8,930

457

11,600

-

Cash acquired in acquisitions

-

-

-

-

605

173

7

-

-

Deposit for new property and equipment

-

-

-

-

-

-

-

87

0

Proceeds from sale of subsidiary

-

-

-

0

-

-

-

-

-

NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES

-764

3,685

1,761

-924

-8,560

-9,663

-1,118

-13,038

-1,288

CASH FLOWS FROM FINANCING ACTIVITIES
Note payable - revolver - net - Sterling National Bank

12,543

-

4,184

3,695

0

7,328

0

3,900

-

Note payable - revolver - net - PNC

-

-

-7,938

-

-

-

-

-

-

Proceeds from notes payable Term Loan PNC

-

-

-

-

-

-

-

-

0

Payments of note payable - term loans

-

-

-

-

-

-

-1,800

-2,153

-1,000

Payment of Issuance costs for Private Placement

-

-

-

-

-

-

-

-

0

Note payable - revolver, net - PNC

14,043

2,415

463

0

41

691

644

601

377

Payments of note payable - term notes - Sterling National Bank

3,800

-

-

-

-

-

-

-

-

Notes payable-Jr. Subordinated Debt

-

-

-

-

-

-

-

-115

-

Notes payable - Jr. Subordinated Debt

-

-

-

-

-

-

-

-

130

Note payable - revolver, net

-

-

-

5,211

-11,933

-3,142

3,637

-4,787

284

Proceeds from note payable - term Loans

-

-

-

-

3,500

-

-

-

-

Payments of note payable - term notes - PNC

1,572

1,899

3,178

3,184

2,030

913

-

-

-

Proceeds from sale of future proceeds from disposition of subsidiary

800

-

-

-

-

-

-

-

-

Transaction costs from sale of future proceeds from disposition of subsidiary

3

-

-

-

-

-

-

-

-

Proceeds from note payable

-

-

-

-

-

0

-

-

-

Payments of finance lease obligations

1,764

1,286

1,397

1,226

717

143

996

608

398

Proceeds from notes payable - third parties

-

70

-

-

-

-

-

-

-

Deferred financing costs

-

-

-50

-

-

-

-

-

-

Deferred financing costs

-

125

-

-

-

-

-

-

20

Payments related to Lease Impairment

-

-

-

-

60

67

85

101

96

Dividends Paid

-

-

-

-

-4,468

-3,748

-1,433

-359

-

Proceeds from public issuance in 2014 and private placement in 2013

-

-

-

-

-

9,530

997

7,115

0

Costs to raise capital

-

-

-

-

-

968

0

-

-

Proceeds from issuance of common stock

-

2,885

7,733

0

-

-

-

-

-

Deferred financing costs

-

-

-

-223

-402

-151

-102

-21

-

Costs related to issuance of stock

113

-

-

663

0

-

-

587

-

Proceeds from capital lease refinance

-

-

-

0

500

0

-

-

-

Proceeds from note payable - related party

1,500

2,803

2,660

4,500

350

-

-

-

-

Payments of notes payable issuances- related party

28

-

-

-

-

-

-

-

-

Payments of loan payable - financed asset

186

-

-

-

-

-

-

-

-

Expenses for issuance of debt offering

-

-

-

-547

0

-

-

-

-

Proceeds from the issuance of preferred stock

-

-

-

5,250

0

-

-

-

-

Dividends Paid

-

-

-

-

-

-

-

-

0

NET CASH PROVIDED BY FINANCING ACTIVITIES

934

33

1,551

2,391

8,565

13,319

-7,700

11,257

-2,305

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

-718

1,382

-674

775

-889

857

71

-87

40

Supplemental cash flow information
Cash paid during the period for interest

2,274

1,509

2,035

1,494

-

-

-

-

-

Cash paid during the period for interest

-

-

-

-

1,649

1,074

1,188

1,577

1,895

Cash paid during the period for income taxes

22

2

-

13

445

2,494

1,061

64

-

Conversion of junior subordinated notes

-

-

-

-

-

1,000

-

-

-

Classification of Assets Held for Sale

-

-

-

21,297

1,700

0

-

-

-

Liabilities directly associated with assets held for sale

-

-

-

-4,235

0

-

-

-

-

Fair Value of Tangible Assets acquired

-

-

-

-

406

0

-

-

-

Intangible assets, subject to amortization

-

-

-

-

-

-

-

-

0

Goodwill

-

-

-

-

-

-

-

-

0

Liabilities assumed

-

-

-

-

-

-453

0

-660

0

Fair Value of Tangible Assets acquired

-

-

-

-

-

5,637

0

7,941

-

Cash paid during the period for income taxes

-

-

8

-

-

-

-

-

0

Conversion of junior subordinated notes

-

-

-

-

-

-

0

5,204

-

Property and equipment acquired under capital lease

-

-

-

-

-

-

-

797

-

Dividends payable

-

-

-

-

-

1,066

717

0

-

Common Stock issued for notes payable - related party

-

330

2,254

0

-

-

-

-

-

Acquisition of property and equipment financed by capital lease

-

-

-

2,096

1,811

0

-

-

-

Common Stock issued for notes payable - third parties

580

30

-

0

-

-

-

-

-

Common Stock issued for notes payable - third parties

-

-

1,941

-

-

-

-

-

-

Common Stock issued for conversion of notes payable and accrued interest

58

1,027

-

-

-

-

-

-

-

Placement agent warrants issued

-

-

85

0

-

-

-

-

-

Common stock issued for notes payable-related party

-

330

2,254

0

-

-

-

-

-

Preferred stock issued for notes payable-related party

-

-

-

3,250

0

-

-

-

-

Preferred shares issued for PIK dividends

-

-

913

502

-

-

-

-

-

Preferred shares issued for notes payable - other

-

-

-

2,745

0

-

-

-

-

Preferred stock issued for PIK dividends

-

-

913

502

0

-

-

-

-

Acquisition of property and equipment financed by capital leases

-

-

225

-

-

-

-

-

-

Classification of assets held for sale

-

-

10,082

-

-

-

-

-

-

Liabilities directly associated with assets held for sale

-

-

-2,795

-

-

-

-

-

-

Junior Subordinated Note Converted to Common Stock

-

-

-

-

-

-

-

-

0

Property and equipment acquired under capital leases

-

-

-

-

-

-

-

-

827

Fair Value of Tangible Assets acquired

-

-

-

-

-

-

-

-

0

Intangible assets, subject to amortization

-

-

-

-

-

950

0

4,975

-

Goodwill

-

-

-

-

-

635

0

162

-

Cash acquired

-

-

-

-

-

184

-

-

-

Fair value of tangible assets acquired

-

-

-

-

-

309

0

0

-

Goodwill

-

-

-

-

-

2,565

-

-

-

Cash Acquired

-

-

-

-

-

-

-

0

-

Liabilities assumed

-

-

-

-

-

-19

-

-

-

Common Stock issued

-

-

-

-

-

-290

0

-

-

Due to seller

-

-

-

-

-

-2,500

0

-518

-

Common Stock

-

-

-

-

-

-

-

-300

-

Due to Old Nassau Tool

-

-

-

-

-

-

-

-

0

Common Stock issued for notes payable

-

-

-

-

-

-

-

-

0

Cash paid for acquisition

-

-

-

-

-

4,453

0

11,600

0

Intagible assets

-

-

-

-

600

0

-

-

-

Goodwill

-

-

-

-

560

0

-

-

-

Liabilities assumed

-

-

-

-

-95

0

-

-

-

Cash paid for acquisition

-

-

-

-

1,471

0

-

-

-

Fair Value of tangible assets acquired

-

-

-

-

8,181

0

-

-

-

Goodwill

-

-

-

-

4,540

0

-

-

-

Cash acquired

-

-

-

-

588

0

-

-

-

Liabilities assumed

-

-

-

-

-3,169

0

-

-

-

Common stock issued

-

-

-

-

-4,666

0

-

-

-

Cash paid for acquisition

-

-

-

-

5,474

0

-

-

-

Cash paid for acquisition

-

-

-

-

-

2,565

-

-

-

Fair value of tangible assets acquired

-

-

-

-

-

412

0

-

-

Goodwill

-

-

-

-

-

1,656

0

-

-

Liabilities assumed

-

-

-

-

-

-170

0

-

-

Common Stock Issued

-

-

-

-

-

-195

0

-

-

Cash paid for acquisition

-

-

-

-

-

1,703

0

-

-

Fair value of tangible assets acquired

-

-

-

-

-

126

0

-

-

Goodwill

-

-

-

-

-

109

0

-

-

Cash acquired

-

-

-

-

-

5

-

0

-

Liabilities assumed

-

-

-

-

-

-31

0

-

-

Cash paid for acquisition

-

-

-

-

-

209

0

-

-

Cash paid for acquisition

-

-

-

-

-

-

-

-

0

Fair Value of Tangible Assets acquired

-

-

-

-

-

-

975

-

-

Due to Sellers of Decimal Industries, Inc.

-

-

-

-

-

-

-660

0

-

Cash paid for acquisition

-

-

-

-

-

-

315

0

-

Fair Value of Tangible Assets acquired

-

-

-

-

-

-

506

0

-

Cash aquired

-

-

-

-

-

-

7

-

-

Liabilities Assumed

-

-

-

-

-

-

-10

0

-

Negative goodwill resulting from the bargain purchase acquisition

-

-

-

-

-

-

361

0

-

Cash paid for acquisition

-

-

-

-

-

-

142

0

-