Overview
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- TickerAIRI on NYSE2
- IndustryAircraft Parts & Auxiliary Equipment, NEC2
- HeadquartersBay Shore, United States2
- Incorporated inNV3
- Business address1460 Fifth Avenue, Bay Shore, Ny 117063
- Filer categoryNon-accelerated filer, Smaller reporting company3
- Legal formCorporation2
- LEI52990054IWU4S4W2H6702
- StatusActive2
- LEI statusIssued and current2
- Registered addressc/o CORPORATION SERVICE COMPANY, 112 NORTH CURRY STREET, 89703 Carson City, United States2
- Registered withBusiness Center (Secretary of State), E0334932013-32
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Original Equipment Manufacturer (“OEM”). A prime contractor designs, develops and produces the final product for the end-user.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Military brought in 58% of the revenue AIR INDUSTRIES GROUP broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Military | $38.5M | $27.9M |
| Commercial Real Estate | $16.6M | $20.0M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue83¢$39.7M
- Other costs14¢$6.6M
- Interest3¢$1.5M
- Income tax0¢$131.0K
Out of $47.9M in revenue.5 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net Sales | $47.9M | $55.1M |
| Cost of Sales | $39.7M | $46.2M |
| Gross Profit | $8.2M | $8.9M |
| Operating Expenses | $8.5M | $8.5M |
| (Loss)/Income from Operations | -$338.0K | $459.0K |
| Interest Expense | -$1.5M | -$1.4M |
| Interest Expense - Related Parties | -$356.0K | -$472.0K |
| Other Income, Net | $743.0K | $68.0K |
| Loss before Benefit From Income Taxes | -$1.4M | -$1.4M |
| Benefit from Income Taxes | -$131.0K | |
| Net Loss | -$1.3M | -$1.4M |
| Loss per share - Basic and diluted (in Dollars per share) | -$0.31 | -$0.41 |
| Loss per share - Diluted (in Dollars per share) | -$0.31 | -$0.41 |
| Weighted Average Shares Outstanding - Basic and diluted (in Shares) | 4.2M shares | 3.3M shares |
| Weighted Average Shares Outstanding - Diluted (in Shares) | 4.2M shares | 3.3M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash | $680.0K | $753.0K | |
| Restricted Cash | $3.9M | ||
| Accounts Receivable, Net of Allowance for Credit Losses of $464,000 and $396,000 | $7.1M | $8.9M | |
| Inventory | $34.3M | $28.8M | |
| Prepaid Expenses and Other Current Assets | $766.0K | $371.0K | |
| Contract Costs Receivable | $296.0K | ||
| Prepaid Taxes | $76.0K | $56.0K | |
| Total Current Assets | $46.8M | $39.2M | |
| Property and Equipment, Net | $9.5M | $8.8M | |
| Finance Lease Right-Of-Use-Assets | $916.0K | $1.1M | |
| Operating Lease Right-Of-Use-Assets | $514.0K | $1.2M | |
| Deferred Financing Costs, Net, Deposits and Other Assets | $614.0K | $712.0K | |
| TOTAL ASSETS | $58.3M | $51.0M | |
| Debt | $23.7M | $18.4M | |
| Accounts Payable and Accrued Expenses | $7.9M | $7.0M | |
| Operating Lease Liabilities | $702.0K | $881.0K | |
| Deferred Gain on Sale | $28.0K | $38.0K | |
| Customer Deposits | $391.0K | $1.1M | |
| Total Current Liabilities | $37.6M | $27.4M | |
| Debt | $1.5M | $1.8M | |
| Operating Lease Liabilities | $702.0K | ||
| Deferred Gain on Sale | $29.0K | ||
| TOTAL LIABILITIES | $39.1M | $36.1M | |
| Common Stock - Par Value $.001 - Authorized 6,000,000 shares, 4,776,454 and 3,474,970 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $5.0K | $3.0K | |
| Additional Paid-In Capital | $89.6M | $84.1M | |
| Accumulated Deficit | -$70.4M | -$69.1M | |
| TOTAL STOCKHOLDERS EQUITY | $19.2M | $14.9M | $15.2M |
| TOTAL LIABILITIES AND STOCKHOLDERS EQUITY | $58.3M | $51.0M | |
| Accounts Receivable, Net of Allowance for Credit Losses | $464.0K | $396.0K | $344.0K |
| Preferred stock, par value (in Dollars per share) | $0.00 | $0.00 | |
| Preferred stock, shares authorized (in Shares) | 3.0M shares | 3.0M shares | |
| Preferred stock, shares outstanding (in Shares) | 0 shares | 0 shares | |
| Common stock, par value (in Dollars per share) | $0.00 | $0.00 | |
| Common stock, shares authorized (in Shares) | 6.0M shares | 6.0M shares | |
| Common stock, shares issued (in Shares) | 4.8M shares | 3.5M shares | |
| Common stock, shares outstanding (in Shares) | 4.8M shares | 3.5M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash | $680.0K | $753.0K | |
| Restricted Cash | $3.9M | ||
| Accounts Receivable, Net of Allowance for Credit Losses of $464,000 and $396,000 | $7.1M | $8.9M | |
| Inventory | $34.3M | $28.8M | |
| Prepaid Expenses and Other Current Assets | $766.0K | $371.0K | |
| Contract Costs Receivable | $296.0K | ||
| Prepaid Taxes | $76.0K | $56.0K | |
| Total Current Assets | $46.8M | $39.2M | |
| Property and Equipment, Net | $9.5M | $8.8M | |
| Finance Lease Right-Of-Use-Assets | $916.0K | $1.1M | |
| Operating Lease Right-Of-Use-Assets | $514.0K | $1.2M | |
| Deferred Financing Costs, Net, Deposits and Other Assets | $614.0K | $712.0K | |
| TOTAL ASSETS | $58.3M | $51.0M | |
| Debt | $23.7M | $18.4M | |
| Accounts Payable and Accrued Expenses | $7.9M | $7.0M | |
| Operating Lease Liabilities | $702.0K | $881.0K | |
| Deferred Gain on Sale | $28.0K | $38.0K | |
| Customer Deposits | $391.0K | $1.1M | |
| Total Current Liabilities | $37.6M | $27.4M | |
| Debt | $1.5M | $1.8M | |
| Operating Lease Liabilities | $702.0K | ||
| Deferred Gain on Sale | $29.0K | ||
| TOTAL LIABILITIES | $39.1M | $36.1M | |
| Common Stock - Par Value $.001 - Authorized 6,000,000 shares, 4,776,454 and 3,474,970 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $5.0K | $3.0K | |
| Additional Paid-In Capital | $89.6M | $84.1M | |
| Accumulated Deficit | -$70.4M | -$69.1M | |
| TOTAL STOCKHOLDERS EQUITY | $19.2M | $14.9M | $15.2M |
| TOTAL LIABILITIES AND STOCKHOLDERS EQUITY | $58.3M | $51.0M | |
| Accounts Receivable, Net of Allowance for Credit Losses | $464.0K | $396.0K | $344.0K |
| Preferred stock, par value (in Dollars per share) | $0.00 | $0.00 | |
| Preferred stock, shares authorized (in Shares) | 3.0M shares | 3.0M shares | |
| Preferred stock, shares outstanding (in Shares) | 0 shares | 0 shares | |
| Common stock, par value (in Dollars per share) | $0.00 | $0.00 | |
| Common stock, shares authorized (in Shares) | 6.0M shares | 6.0M shares | |
| Common stock, shares issued (in Shares) | 4.8M shares | 3.5M shares | |
| Common stock, shares outstanding (in Shares) | 4.8M shares | 3.5M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net Loss | -$1.3M | -$1.4M |
| Depreciation of property and equipment | $2.5M | $2.1M |
| Stock-based Compensation | $1.0M | $797.0K |
| Amortization of Finance Lease Right-of-Use Assets | $197.0K | $176.0K |
| Amortization of Operating Lease Right-of-Use Assets | $676.0K | $676.0K |
| Deferred gain on sale of real estate | -$39.0K | -$38.0K |
| (Gain)/Loss on sale of equipment | -$68.0K | -$15.0K |
| Allowances for Credit Losses | $68.0K | $52.0K |
| Amortization of deferred financing costs | $69.0K | $68.0K |
| Accounts receivable | $1.8M | -$1.1M |
| Inventory | -$5.5M | $1.0M |
| Prepaid expenses and other current assets | -$395.0K | -$74.0K |
| Contract costs receivable | $296.0K | |
| Prepaid taxes | -$20.0K | -$19.0K |
| Deposits and other assets | $29.0K | $375.0K |
| Accounts payable and accrued expenses | $888.0K | $961.0K |
| Operating lease liabilities | -$881.0K | -$879.0K |
| Customer deposits | -$724.0K | -$2.4M |
| NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES | -$1.4M | $324.0K |
| Purchase of property and equipment | -$3.3M | -$2.3M |
| Proceeds from sale of fixed assets | $200.0K | $16.0K |
| NET CASH USED IN INVESTING ACTIVITIES | -$3.1M | -$2.3M |
| Note payable - revolver - net - Current Credit Facility | $4.7M | $2.1M |
| Proceeds from term loan - Current Credit Facility | $1.6M | $1.0M |
| Proceeds from term loan - Solar Facility | $8.0K | |
| Net proceeds from Common Stock issued for cash | $4.6M | $327.0K |
| Payments for taxes related to net share settlement of equity awards | -$127.0K | |
| Payments of subordinated Notes - Related party | -$1.3M | |
| Payments of term loan - Current Credit Facility | -$1.0M | -$869.0K |
| Payments of finance lease obligations | -$223.0K | -$196.0K |
| Payments of loan payable - financed asset | -$9.0K | -$9.0K |
| NET CASH PROVIDED BY FINANCING ACTIVITIES | $8.3M | $2.4M |
| NET INCREASE IN CASH | $3.9M | $407.0K |
| Cash paid during the year for interest | $1.8M | $1.8M |
| Cash paid during the year for taxes | $21.0K | $20.0K |
| Financing from Solar Credit Facility directly to contractor | $533.0K | |
| Acquisition of financed lease asset | $319.0K |
No quarter-by-quarter statement was filed.
Corporate structure
AIR INDUSTRIES GROUP sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of AIR INDUSTRIES GROUP
- Star Equity Fund, LP Filed SCHEDULE 13D/A on AIR INDUSTRIES GROUP, latest May 28, 2026 (2 filings since Jan 27, 2026)
- Charles Frischer Filed SCHEDULE 13D on AIR INDUSTRIES GROUP, latest Mar 23, 2026
- Michael N. Taglich Filed SCHEDULE 13D/A on AIR INDUSTRIES GROUP, latest Feb 13, 2026 (5 filings since Aug 3, 2022)
- Robert Taglich Filed SCHEDULE 13D/A on AIR INDUSTRIES GROUP, latest Feb 13, 2026 (5 filings since Aug 3, 2022)
- Richmond Brothers, Inc. Filed SC 13D/A on AIR INDUSTRIES GROUP, latest Oct 22, 2021 (2 filings since Oct 12, 2021)
- AIR INDUSTRIES GROUP Bay Shore, New York, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What AIR INDUSTRIES GROUP reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $48.7M5 Dec 31, 2025 | $46.2M5 Dec 31, 2024 | +5.4% |
| Accumulated depreciation | $39.2M5 Dec 31, 2025 | $37.4M5 Dec 31, 2024 | +4.9% |
| Property and equipment, net | $9.5M5 Dec 31, 2025 | $8.8M5 Dec 31, 2024 | +7.9% |
| Finance-lease assets | $916.0K5 Dec 31, 2025 | $1.1M5 Dec 31, 2024 | −17.7% |
| Operating-lease assets (leased space) | $514.0K5 Dec 31, 2025 | $1.2M5 Dec 31, 2024 | −56.8% |
Inventory
| Item | Latest | A year before | Change |
|---|---|---|---|
| Inventory, total | $34.3M5 Dec 31, 2025 | $28.8M5 Dec 31, 2024 | +18.9% |
| Raw materials | $7.3M5 Dec 31, 2025 | $6.3M5 Dec 31, 2024 | +15.6% |
| Work in process | $17.1M5 Dec 31, 2025 | $13.0M5 Dec 31, 2024 | +31.0% |
| Finished goods | $677.0K5 Dec 31, 2025 | $660.0K5 Dec 31, 2024 | +2.6% |
Properties, in its own words
We have strategically located our properties in the U.S. We lease and maintain an approximately 81,000 square foot state-of-the-art manufacturing facility located in Bay Shore, New York. We maintain our corporate headquarters at this facility whose lease expires in September 2026.
We own a second 74,923 square foot state-of the-art manufacturing facility located in Barkhamsted, Connecticut.
Item 2 of the 10-K filed Mar 27, 2026.4
Leadership
Who has led AIR INDUSTRIES GROUP, and when. Pick a name to see everywhere that person has worked.
President
Chief financial officer
- Chief executive officerScott Glassman Apr 28, 2026 to now13
- Chief executive officerDaniel Godin Dec 3, 2014 to Dec 3, 201414
- Chief executive officerPeter Rettaliata Jan 30, 2007 to Jan 2, 201815
- PresidentScott Glassman Apr 28, 2026 to now13
- PresidentLuciano M. Melluzzo Sep 19, 2017 to Apr 28, 202616
- PresidentDaniel Godin Dec 3, 2014 to Dec 3, 201414
- PresidentDario Peragallo Nov 30, 2012 to Sep 18, 201317
- PresidentGary Settuducato Nov 30, 2012 to Sep 18, 201318
- PresidentPeter Rettaliata Jan 30, 2007 to Jan 2, 201815
- Chief financial officerScott Glassman Oct 24, 2023 to now19
- Chief financial officerMichael E. Recca Oct 6, 2016 to Jun 20, 202320
- Chief financial officerLouis Giusto Dec 19, 2007 to Dec 19, 200721
Board members and other officers (17)
- Chief Accounting OfficerMarianne Giglio May 27, 2016 to May 27, 201622
- Chief Accounting OfficerScott Glassman Dec 18, 2008 to Jan 15, 201523
- Executive Vice PresidentDario Peragallo Jan 30, 2007 to Dec 19, 200724
- SECRETARYStephen Nagler Feb 15, 2007 to Feb 15, 200725
- Executive Vice PresidentLouis Giusto Dec 21, 2007 to Dec 21, 200726
- Board memberMichael Porcelain Oct 26, 2017 to now27
- Board memberMichael Brand Nov 30, 2012 to now28
- Board memberRobert C. Schroeder Oct 14, 2008 to Jan 13, 202129
- Board memberMichael N. Taglich Oct 16, 2008 to now30
- Board memberRobert Taglich Oct 16, 2008 to now31
- Board memberDario Peragallo Jan 30, 2007 to Nov 30, 201224
- Board memberPeter Rettaliata Jan 30, 2007 to now15
- Board memberIra Hunt Jr. Feb 15, 2007 to Apr 15, 200832
- Board memberSeymour Siegel Feb 15, 2007 to Jun 30, 201633
- Board memberStephen Nagler Feb 15, 2007 to Feb 15, 200725
- Board memberDavid Buonanno Aug 31, 2007 to now34
- Board memberLouis Giusto Dec 19, 2007 to Dec 21, 200721
Former names
Timeline
- Aug 24, 20268-K Entered a material agreement35
- Aug 3, 20268-K Entered a material agreement; Regulation FD disclosure36
- Jul 9, 20268-K Entered a material agreement; Regulation FD disclosure37
- Jun 12, 20268-K Entered a material agreement38
- Apr 28, 2026New chief executive Scott Glassman becomes CEO13
- Mar 20, 20268-K Executive or director change39
- Mar 16, 20268-K Executive or director change40
- Feb 27, 20268-K Entered a material agreement41
- Feb 17, 20268-K Results of operations42
- Feb 17, 20268-K Entered a material agreement; Unregistered sale of shares; Regulation FD disclosure43
- Dec 16, 20258-K Entered a material agreement44
- Nov 14, 20258-K Results of operations45
- Sep 15, 20258-K Entered a material agreement46
- Dec 3, 2014New chief executive Daniel Godin becomes CEO14
- Jul 9, 2013Founded AIR INDUSTRIES GROUP is founded2
- Jan 30, 2007New chief executive Peter Rettaliata becomes CEO15
Calendar
Coming up
- Nov 13, 2026Reports results for the quarter ending Sep/202647
When it reported results
- Feb 17, 2026Reported quarterly or annual results42
- Nov 14, 2025Reported quarterly or annual results45
- Aug 14, 2025Reported quarterly or annual results48
- May 15, 2025Reported quarterly or annual results49
- Mar 31, 2025Reported quarterly or annual results50
- Nov 14, 2024Reported quarterly or annual results51
- Oct 16, 2024Reported quarterly or annual results52
- Dec 7, 2023Reported quarterly or annual results53
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
308 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 105 major events, 132 insider forms, 15 large holders, 35 other. The latest 20:
- Oct 2, 2026S-4/A REGISTRATION STATEMENT EDGAR
- Aug 31, 20264 EDGAR
- Aug 24, 20268-K CURRENT REPORT EDGAR
- Aug 12, 202610-Q QUARTERLY REPORT EDGAR
- Aug 3, 20268-K CURRENT REPORT EDGAR
- Jul 22, 2026S-4 REGISTRATION STATEMENT EDGAR
- Jul 9, 20268-K CURRENT REPORT EDGAR
- Jun 12, 20268-K CURRENT REPORT EDGAR
- Jun 1, 2026SD SPECIALIZED DISCLOSURE REPORT EDGAR
- May 28, 2026SCHEDULE 13D/A EDGAR
- May 13, 202610-Q QUARTERLY REPORT EDGAR
- May 5, 2026PREM14A PRELIMINARY PROXY STATEMENT EDGAR
- Apr 28, 20264 EDGAR
- Apr 13, 20264 OWNERSHIP DOCUMENT EDGAR
- Mar 27, 202610-K ANNUAL REPORT EDGAR
- Mar 23, 2026SCHEDULE 13D EDGAR
- Mar 20, 20268-K CURRENT REPORT EDGAR
- Mar 16, 20268-K CURRENT REPORT EDGAR
- Feb 27, 20268-K CURRENT REPORT EDGAR
- Feb 17, 20264 EDGAR
The 308 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
5 open-market trades by officers, directors and large owners since October 2021: 3 buys and 2 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 13, 2024 | TAGLICH ROBERTDirector | Sale | 7,015 | $7.00 | $49.1K | Form 4 |
| Sep 13, 2024 | TAGLICH MICHAEL NDirector | Sale | 7,015 | $7.00 | $49.1K | Form 4 |
| Jun 6, 2024 | Melluzzo Luciano MPresident | Buy | 11,082 | $3.64 | $40.3K | Form 4 |
| Dec 6, 2021 | TAGLICH MICHAEL NDirector | Buy | 7,649 | $0.92 | $7.0K | Form 4 |
| Dec 6, 2021 | Melluzzo Luciano MPresident | Buy | 10,000 | $0.94 | $9.4K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Star Equity Fund, LPSCHEDULE 13D/A, 2 filings Jan 27, 2026 to May 28, 202654
- Charles FrischerSCHEDULE 13D, 1 filing Mar 23, 202655
- Michael N. TaglichSCHEDULE 13D/A, 5 filings Aug 3, 2022 to Feb 13, 202656
- Robert TaglichSCHEDULE 13D/A, 5 filings Aug 3, 2022 to Feb 13, 202657
- Richmond Brothers, Inc.SC 13D/A, 2 filings Oct 12, 2021 to Oct 22, 202158
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2024 | Luciano Melluzzo | 60 | $374.6K | $1.0M59 |
| 2024 | Scott Glassman | 47 | $224.2K | $595.6K59 |
| 2023 | President and CEO | $374.6K | $493.3K59 | |
| 2023 | Michael Recca | $267.5K | $320.8K59 | |
| 2023 | CFO | $224.2K | $237.6K59 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Vanguard Capital Management LLC | 68,959 | $208.3K | 0.0% | No change |
| Geode Capital Management, LLC | 43,124 | $130.3K | 0.0% | +6,429 |
| Dimensional Fund Advisors LP | 30,745 | $92.8K | 0.0% | −1,308 |
| UBS Group AG | 26,929 | $81.3K | 0.0% | +2,602 |
| Medallion Wealth Advisors, LLC | 23,486 | $70.9K | 0.0% | No change |
| XTX Topco Ltd | 21,423 | $64.7K | 0.0% | −1,308 |
| Vanguard Fiduciary Trust Co | 19,412 | $58.6K | 0.0% | No change |
| Jane Street Group, LLC | 17,102 | $51.6K | 0.0% | New |
| Susquehanna International Group, Llp | 16,121 | $48.7K | 0.0% | New |
| Steward Partners Investment Advisory, LLC | 1,600 | $4.8K | 0.0% | New |
| Arax Advisory Partners | 500 | $1.5K | 0.0% | New |
| Osaic Holdings, Inc. | 500 | $1.5K | 0.0% | −500 |
| SBI Securities Co., Ltd. | 130 | $393 | 0.0% | +26 |
| Citigroup Inc | 77 | $233 | 0.0% | −6,737 |
| Barclays PLC | 59 | $178 | 0.0% | New |
| Stone House Investment Management, LLC | 35 | $106 | 0.0% | New |
| Hrt Financial LP | 13,574 | $40 | 0.0% | New |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How AIR INDUSTRIES GROUP is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARAIR INDUSTRIES GROUP1
- CIK0001009891
- Employer ID (EIN)80-09484134
- Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
- Incorporated inNevada4
- Fiscal year endsDecember 311
- Industry code (SIC)3728 Aircraft Parts & Auxiliary Equipment, NEC1
- SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
- Business address1460 Fifth Avenue, Bay Shore, NY 117061
- Phone631-881-49201
- Shares outstanding4,850,658 as of Aug 11, 202612
- Public float$10.0M as of Jun 30, 20254
- AuditorCBIZ CPAs P.C., Saddle Brook, NJ PCAOB ID 199; no auditor attestation of internal control over financial reporting4
- On EDGAR sinceJan 31, 20001
- Filings1,159 in all: 4 (368), 8-K (322), 10-Q (46), 3 (33), 4/A (31), UPLOAD (26), 10QSB (23), CORRESP (23)1
All 62 form types
DEF 14A (20), 8-K/A (18), 10-K (16), NT 10-Q (16), D (14), NT 10-K (13), 10-K/A (11), EFFECT (11), SC 13D/A (11), 5 (10), PRE 14A (10), S-8 (10), SD (10), PRER14A (8), 10-Q/A (7), 10KSB (7), SC 13D (7), 10-12G/A (5), D/A (5), SCHEDULE 13D/A (5), 10KSB/A (4), 424B3 (4), DEFA14A (4), S-1/A (4), S-3 (4), 10QSB/A (3), 10SB12G/A (3), 424B5 (3), FWP (3), REGDEX (3), S-1 (3), S-3/A (3), SB-2/A (3), SC 13G (3), DEF 14C (2), POS AM (2), PRE 14C (2), REGDEX/A (2), SB-2 (2), SCHEDULE 13D (2), 10-12G (1), 10SB12G (1), 15-12G (1), 424B4 (1), 8-A12B (1), ARS (1), CERTNAS (1), DEFR14A (1), NT 10-K/A (1), NT 10-Q/A (1), PREM14A (1), S-4 (1), S-4/A (1), SC 13G/A (1)
- Latest filingsAnnual report (10-K) Mar 27, 2026
Quarterly report (10-Q) Aug 12, 2026
Proxy statement (DEF 14A) May 5, 2025
Latest 8-K (8-K) Aug 24, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, par value $0.001 | AIRI | NYSE |
From the cover page of the 10-K filed Mar 27, 2026 (Section 12(b) of the Exchange Act).4
Risk factors and legal proceedings
The risks AIR INDUSTRIES GROUP names in Item 1A of its 10-K filed Mar 27, 2026: 51 risks under these headings, as written.4
- Risks Related to Our Business
- We have a history of net losses, have recently increased our debt to support ongoing business operations, need to refinance our debt and the opinion of our auditor contains an explanatory paragraph as to our ability to continue as a going concern.
- We may need additional financing to fund operations and to invest in new or upgraded property or equipment.
- A reduction in budgeted or actual U.S. government spending for defense or changes in the mix of defense products could materially adversely impact our business strategy, revenues, operating results and financial condition.
- Although we have cultivated long-standing relationships with many of our customers, the aerospace and defense industry is characterized by a small number of large and well-known prime customers. A majority of our revenue is derived from sales to a limited number of customers and any loss, cancellation, reduction, or interruption in these relationships could harm our business.
- We depend on revenues from components for a few aircraft programs and platforms and the cancellation or reduction of funding of them will harm our business.
- Changes in outsourcing strategies and intense competition in our markets may lead to a reduction in our revenues and market share.
- We may lose sales if we fail to timely meet the specifications and requirements of our customers.
- We may lose sales if our suppliers fail to meet our needs or ship raw materials to us on schedule.
- We may not be able to improve our gross margin and a reduction in future sales levels could have a disproportionate effect on our gross profit as a percentage of our net sales.
- There are risks associated with the bidding processes in which we compete.
- Due to fixed contract pricing, increasing contract costs expose us to reduced profitability and the potential loss of business.
The other 40 risks
- The prices of raw materials we use are volatile.
- Some of the products we produce have long lead times.
- We do not own the intellectual property rights to products we produce.
- There are risks associated with new programs.
- There are risks associated with offering new services to our customers.
- Attracting and retaining executive talent and other key personnel is an essential element of our future success.
- We are subject to intense competition for the skilled machinists necessary to manufacture our products.
- We are subject to strict governmental regulations relating to the environment, which could result in fines and remediation expense in the event of non-compliance.
- We may be subject to fines and disqualification for non-compliance with Federal Aviation Administration regulations.
- Cyber security attacks, internal system or service failures, and any unauthorized access to our customer data will have an adverse effect on our business and reputation.
- We are subject to an extensive and evolving regulatory landscape and requirements imposed by our customers to secure our communications, and any adverse changes to, or our failure to comply with, any laws and regulations or requirements of our clients could adversely affect our brand, reputation, business, operating results, and financial condition.
- Russia’s ongoing war with Ukraine, the conflict in the Middle East (including the ongoing U.S. military operations in Iran), continued tensions between the US and the European Union with China and Russia, and tension between the US and the European Union with respect to funding Ukraine’s war effort, tariffs and other issues, may alter countries’ willingness to rely on others as the source of certain products and material.
- Risks Related to Our Indebtedness
- The weighted average interest rate we paid in 2025 on borrowings outstanding on the Current Credit Facility was 6.72% and this interest rate may increase in the future. Further, we agreed to pay Webster $40,000 as a condition to its agreement to extend the due date of the Current Credit Facility from December 31, 2025, to March 31, 2026, and an additional $175,000 for its agreement to extend the due date to September 30, 2026.
- We may not be able to comply with the covenants of the Current Credit Facility and our debt could be called.
- The terms of our Current Credit Facility limit our ability to pay dividends.
- Risks Related to the Merger
- Consummation of the Merger Agreement with Tenax is subject to conditions, including certain conditions that may not be satisfied on a timely basis, if at all.
- We have incurred and we will continue to incur significant transaction and transition costs in connection with the Merger.
- Management has devoted significant time and effort to the negotiation of the Merger Agreement, responding to due diligence requests and seeking to consummate the Merger and will continue to do so until the Merger is consummated or abandoned.
- Consummation of the Merger requires the consent of our shareholders to certain actions prior to the Merger and the Merger Agreement may be amended without shareholder approval.
- The Directors and Officers of the Company have entered into an agreement with Tenax to vote in favor of the Merger, regardless of how the Company’s other shareholders vote.
- The exercise of the Company’s directors’ and executive officers’ discretion in agreeing to the Merger Agreement or changes or waivers in the terms of the Merger Agreement may be impacted by conflicts of interest.
- The announcement of the proposed Merger could disrupt our relationships with our customers, suppliers, business partners and others, as well as our operating results and business generally.
- Our issuance of shares of common stock in the Merger will dilute your ownership and could adversely affect our stock price.
- The number of shares of our common stock to be issued in the Merger is subject to adjustment and likely to increase.
- There is currently no meaningful information regarding the business, operations and historical financial operating results of Tenax available to prospective purchasers of our common stock in the public markets.
- Risks of Being a Public Company
- There is only a limited public market for our common stock.
- The ownership of our common stock is highly concentrated amongst related parties, and their interests may conflict with the interests of other stockholders.
- Future sales, or the perception of future sales, of our common stock by us or our existing stockholders in the public market could cause the market price for our common stock to decline.
- The market price of our common stock is highly volatile, which could result in substantial losses to investors.
- Our operating results and financial condition may fluctuate on a quarterly and annual basis.
- Disruptive national and international events and the response of the United States, other countries and the public to such events, and the resulting macroeconomic disruption to the financial markets could lead to increased volume and price volatility for publicly traded securities which could adversely impact the price of our common stock.
- We are a “smaller reporting company” and the reduced disclosure requirements applicable to smaller reporting companies may make our common stock less attractive to investors.
- We can provide no assurance that our common stock will continue to be listed on the NYSE American. If we fail to meet the continued listing standards of the NYSE American, our common stock could be delisted. The delisting of our common stock could impair your ability to purchase shares of our common stock or sell your common stock when you wish to do so which could have a negative effect on the price of our common stock.
- The NYSE American may require us to meet the requirements for an initial listing if we consummate the Merger with Tenax
- If we fail to meet the expectations of securities analysts or investors, our stock price could decline significantly.
- If securities or industry analysts publish inaccurate or unfavorable research or reports about our business, our stock price and trading volume could decline.
- Future financings or acquisitions may adversely affect the market price of our common stock.
- We incur significant costs as a result of operating as a public company, and our management is required to devote substantial effort to compliance requirements, including establishing and maintaining internal controls over financial reporting, and we may be exposed to potential risks if we are unable to comply with these requirements. Costs to comply may increase in the future. The requirements of being a public company affect our ability to attract and retain qualified board members.
- If we are unable to effectively maintain a system of internal control over financial reporting, we may not be able to accurately or timely report our financial results and our stock price could be adversely affected.
- We do not expect to pay any cash dividends for the foreseeable future.
Legal proceedings
On October 2, 2018, Contract Pharmacal Corp. (“Contract Pharmacal”) commenced an action, relating to a Sublease entered into between the Company and Contract Pharmacal in May 2018 with respect to the property that was formerly occupied by the Company’s former subsidiary WMI, at 110 Plant Avenue, Hauppauge, New York. In the action, Contract Pharmacal sought damages for an amount in excess of $1,000,000 for the Company’s alleged violation of the terms of the subject sublease, specifically the failure to make the entire premises available by what it claims was the Sublease commencement date. The validity of the action is extremely suspect in that the subject sublease had no specific commencement date and Contract Pharmacal ultimately received all the space. Discovery was conducted and the Plaintiff moved for summary judgement and to amend its complaint to add a new cause of action all of which the company opposed. On July 8, 2021, the Court denied Contract Pharmacal’s motion for summary judgement and to add an additional cause of action. In the Order, the Court granted Contract Pharmacal’s Motions to drop its claim for specific performance and to amend its Complaint to reduce its claim for damages to $700,000 both of which benefit the Company. Following the Court’s decision, Contract Pharmacal filed a Motion to reargue its original motion which the Company opposed. The Court denied that motion on November 30, 2021 and then on March 10, 2022, Contract Pharmacal filed an appeal of the Court’s decision with the Appellate Division of the State of New York. The Company opposed that action. The Company was again successful as the Appellate Division upheld the lower court’s denial of Contract Pharmacal’s motion for summary judgement and its motion to amend its Complaint. Contract Pharmacal has now submitted a motion to the Appellate Division requesting leave to reargue the court’s denial of its original appeal. The Company will oppose that motion.
The opening of Item 3, Legal Proceedings.4
Sources
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- 16SEC EDGARLuciano M. Melluzzo, President
- 17SEC EDGARDario Peragallo, President
- 18SEC EDGARGary Settuducato, President
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- 25SEC EDGARStephen Nagler, SECRETARY
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- 27SEC EDGARMichael Porcelain, Board member
- 28SEC EDGARMichael Brand, Board member
- 29SEC EDGARRobert C. Schroeder, Board member
- 30SEC EDGARMichael N. Taglich, Board member
- 31SEC EDGARRobert Taglich, Board member
- 32SEC EDGARIra Hunt Jr., Board member
- 33SEC EDGARSeymour Siegel, Board member
- 34SEC EDGARDavid Buonanno, Board member
- 35SEC EDGAREntered a material agreement
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- 38SEC EDGAREntered a material agreement
- 39SEC EDGARExecutive or director change
- 40SEC EDGARExecutive or director change
- 41SEC EDGAREntered a material agreement
- 42SEC EDGARResults of operations
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- 44SEC EDGAREntered a material agreement
- 45SEC EDGARResults of operations
- 46SEC EDGAREntered a material agreement
- 47NasdaqNasdaq calendar
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