<SEC-DOCUMENT>0001387131-20-001828.txt : 20200214
<SEC-HEADER>0001387131-20-001828.hdr.sgml : 20200214
<ACCEPTANCE-DATETIME>20200214163722
ACCESSION NUMBER:		0001387131-20-001828
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20200211
ITEM INFORMATION:		Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200214
DATE AS OF CHANGE:		20200214

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CPI AEROSTRUCTURES INC
		CENTRAL INDEX KEY:			0000889348
		STANDARD INDUSTRIAL CLASSIFICATION:	AIRCRAFT PART & AUXILIARY EQUIPMENT, NEC [3728]
		IRS NUMBER:				112520310
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11398
		FILM NUMBER:		20621012

	BUSINESS ADDRESS:	
		STREET 1:		200A EXECUTIVE DR
		CITY:			EDGEWOOD
		STATE:			NY
		ZIP:			11717
		BUSINESS PHONE:		5165865200

	MAIL ADDRESS:	
		STREET 1:		91 HEARTLAND BLVD
		CITY:			EDGEWOOD
		STATE:			NY
		ZIP:			11717
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>cvu-8k_021120.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

<!-- Field: Rule-Page --><div style="margin-top: 0; margin-bottom: 0; width: 100%"><div style="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>&nbsp;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin: 0pt;"><font style="font-size: 14pt;"><b>UNITED STATES </b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><b><font style="font-size: 14pt">SECURITIES AND EXCHANGE COMMISSION</font> <br><font style="font-size: 12pt">WASHINGTON, D.C. 20549</font></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center">&nbsp;</p>
<div align="center" style="margin-top: 0pt; margin-bottom: 0pt">
<div style="border-top: #000000 1pt solid; width: 20%; font-size: 1pt">&nbsp;</div>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><font style="font-size: 18pt"><b>FORM 8-K</b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<div align="center" style="margin-top: 0pt; margin-bottom: 0pt">
<div style="border-top: #000000 1pt solid; width: 20%; font-size: 1pt">&nbsp;</div>
</div>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><font style="font-size: 12pt"><b>CURRENT REPORT <br>PURSUANT TO SECTION 13 OR 15(d) OF THE <br>SECURITIES EXCHANGE ACT OF 1934</b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center">Date of Report (Date of earliest event
reported): February 11, 2020</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<table border="0" width="100%" cellspacing="0" cellpadding="0" style="border-collapse: collapse; width: 100%">

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<td valign="top" style="border-bottom: black 1pt solid; padding: 0pt 5.4pt; width: 98%">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><font style="font-size: 24pt"><b>CPI AEROSTRUCTURES, INC.</b></font></p>
</td>
</tr>
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<td valign="top" style="padding: 0pt 5.4pt">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center">(Exact Name of Registrant as Specified in Charter)</p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<table border="0" cellspacing="0" cellpadding="0" style="margin: 0px; width: 100%; border-collapse: collapse">

<tr>
<td style="vertical-align: top; border-bottom: black 1pt solid; padding: 0pt 5.4pt; width: 34%">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><b>New York</b></p>
</td>
<td style="vertical-align: top; padding: 0pt 5.4pt; width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><b>&nbsp;</b></p>
</td>
<td style="vertical-align: top; border-bottom: black 1pt solid; padding: 0pt 5.4pt; width: 26%">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><b>001-11398</b></p>
</td>
<td style="vertical-align: top; padding: 0pt 5.4pt; width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><b>&nbsp;</b></p>
</td>
<td style="vertical-align: top; border-bottom: black 1pt solid; padding: 0pt 5.4pt; width: 34%">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><b>11-2520310</b></p>
</td>
</tr>
<tr>
<td style="vertical-align: top; padding: 0pt 5.4pt">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center">(State or Other Jurisdiction<br>of Incorporation)</p>
</td>
<td style="vertical-align: top; padding: 0pt 5.4pt">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center">&nbsp;</p>
</td>
<td style="vertical-align: top; padding: 0pt 5.4pt">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center">(Commission<br>File Number)</p>
</td>
<td style="vertical-align: top; padding: 0pt 5.4pt">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center">&nbsp;</p>
</td>
<td style="vertical-align: top; padding: 0pt 5.4pt">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center">(IRS Employer<br>Identification No.)</p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<table border="0" cellspacing="0" cellpadding="0" style="margin: 0px; width: 100%; border-collapse: collapse">

<tr>
<td valign="top" style="border-bottom: black 1pt solid; padding: 0pt 5.4pt; width: 63%">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><b>91 Heartland Boulevard, Edgewood, New York</b></p>
</td>
<td valign="top" style="padding: 0pt 5.4pt; width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><b>&nbsp;</b></p>
</td>
<td valign="top" style="border-bottom: black 1pt solid; padding: 0pt 5.4pt; width: 34%">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><b>11717</b></p>
</td>
</tr>
<tr>
<td valign="top" style="padding: 0pt 5.4pt">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center">(Address of Principal Executive Offices)</p>
</td>
<td valign="top" style="padding: 0pt 5.4pt">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center">&nbsp;</p>
</td>
<td valign="top" style="padding: 0pt 5.4pt">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center">(Zip Code)</p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center">Registrant&#x2019;s telephone number, including area code: (631) 586-5200</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
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<td valign="top" style="border-bottom: black 1pt solid; padding: 0pt 5.4pt; width: 98%">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><b>N/A</b></p>
</td>
</tr>
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<td valign="top" style="padding: 0pt 5.4pt">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center">(Former Name or Former Address, if Changed Since Last Report)</p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<u>see</u> General Instruction A.2. below):</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; width: 100%">

<tr>
<td valign="top" style="width: 4%">
<p style="font: 10pt Times New Roman, Times, serif; margin: 0pt; padding: 0pt; text-indent: 0pt">&#9744;</p>
</td>
<td style="width: 1%">
<p style="margin: 0pt; padding: 0pt">&nbsp;</p>
</td>
<td valign="top" style="width: 95%">
<p style="font: 10pt Times New Roman, Times, serif; margin: 0pt; padding: 0pt; text-indent: 0pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; width: 100%">

<tr>
<td valign="top" style="width: 4%">
<p style="font: 10pt Times New Roman, Times, serif; margin: 0pt; padding: 0pt; text-indent: 0pt">&#9744;</p>
</td>
<td style="width: 1%">
<p style="margin: 0pt; padding: 0pt">&nbsp;</p>
</td>
<td valign="top" style="width: 95%">
<p style="font: 10pt Times New Roman, Times, serif; margin: 0pt; padding: 0pt; text-indent: 0pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p>
</td>
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<tr>
<td style="width: 4%">
<p style="font: 10pt Times New Roman, Times, serif; margin: 0pt; padding: 0pt; text-indent: 0pt">&nbsp;</p>
</td>
<td style="width: 1%">
<p style="margin: 0pt; padding: 0pt">&nbsp;</p>
</td>
<td style="width: 95%">
<p style="font: 10pt Times New Roman, Times, serif; margin: 0pt; padding: 0pt; text-indent: 0pt">&nbsp;</p>
</td>
</tr>
<tr>
<td style="width: 4%">
<p style="font: 10pt Times New Roman, Times, serif; margin: 0pt; padding: 0pt; text-indent: 0pt">&#9744;</p>
</td>
<td style="width: 1%">
<p style="margin: 0pt; padding: 0pt">&nbsp;</p>
</td>
<td style="width: 95%">
<p style="font: 10pt Times New Roman, Times, serif; margin: 0pt; padding: 0pt; text-indent: 0pt">Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p>
</td>
</tr>
<tr>
<td style="width: 4%">
<p style="font: 10pt Times New Roman, Times, serif; margin: 0pt; padding: 0pt; text-indent: 0pt">&nbsp;</p>
</td>
<td style="width: 1%">
<p style="margin: 0pt; padding: 0pt">&nbsp;</p>
</td>
<td style="width: 95%">
<p style="font: 10pt Times New Roman, Times, serif; margin: 0pt; padding: 0pt; text-indent: 0pt">&nbsp;</p>
</td>
</tr>
<tr>
<td style="width: 4%">
<p style="font: 10pt Times New Roman, Times, serif; margin: 0pt; padding: 0pt; text-indent: 0pt">&#9744;</p>
</td>
<td style="width: 1%">
<p style="margin: 0pt; padding: 0pt">&nbsp;</p>
</td>
<td style="width: 95%">
<p style="font: 10pt Times New Roman, Times, serif; margin: 0pt; padding: 0pt; text-indent: 0pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e 4(c))</p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 36pt">Emerging growth company&nbsp;&#9744;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">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.&nbsp;&#9744;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
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<tr>
<td colspan="3" valign="bottom" style="padding: 2pt 5.4pt">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: -0.75pt">Securities registered pursuant to Section 12(b) of the Act:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35.85pt">&nbsp;</p>
</td>
</tr>
<tr>
<td style="border-bottom: Black 1pt solid; padding: 2pt 5.4pt; width: 37%; vertical-align: bottom"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><b>Title of each class</b></p>
</td>
<td style="border-bottom: Black 1pt solid; padding: 2pt 5.4pt; width: 25%; vertical-align: bottom"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><b>Trading symbol(s)</b></p>
</td>
<td style="border-bottom: Black 1pt solid; padding: 2pt 5.4pt; width: 38%; vertical-align: bottom"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -1.5pt"><b>Name of each exchange on which registered</b></p>
</td>
</tr>
<tr>
<td valign="bottom" style="padding: 2pt 5.4pt">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Common stock, $0.001 par value per share</p>
</td>
<td valign="bottom" style="padding: 2pt 5.4pt">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt">CVU</p>
</td>
<td valign="bottom" style="padding: 2pt 5.4pt">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35.85pt">NYSE American</p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 35.85pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 12pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1in"><b>Item 4.02</b></td><td style="font: 10pt Times New Roman, Times, Serif"><b>Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">On February 12, 2020, the audit committee of the board of
directors (&#8220;Audit Committee&#8221;) of CPI Aerostructures, Inc. (the &#8220;Company&#8221;), determined, based on the recommendation
of management and in consultation with CohnReznick LLP (&#8220;CohnReznick&#8221;), the Company&#8217;s independent registered
public accounting firm, that the Company&#8217;s financial statements which were included in its annual report on Form 10-K for
the year ended December 31, 2018, quarterly reports on Forms 10-Q for the quarters ended March 31, 2018, June 30, 2018, and September
30, 2018 and quarterly reports on Forms 10-Q for the quarters ended March 31, 2019, June 30, 2019, and September 30, 2019 should
no longer be relied upon due to an error in such financial statements relating to the Company&#8217;s recognition of revenue from
contracts with customers under ASC Topic 606. Similarly, CohnReznick&#8217;s reports on the effectiveness of internal control over
financial reporting for the year ended December 31, 2018, management&#8217;s reports on the effectiveness of internal control over
financial reporting, press releases, and investor communications describing the Company&#8217;s financial statements for such periods
should no longer be relied upon. The Company&#8217;s cash flows from operations for the affected periods are not expected to be
impacted.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">The error was uncovered as part of the preparation of the
Company&#8217;s financial statements for the year ended December 31, 2019. After reconsideration of the terms of the Company&#8217;s
contracts with customers, Management&#8217;s preliminary conclusion is that certain revenues and net income were recognized prematurely
or inaccurately due to an incorrect application of generally accepted accounting principles. Therefore, previously reported revenue
and net income are believed to have been overstated. The error is also expected to have an impact on the Company&#8217;s balance
sheet for the affected periods. Specifically, retained earnings and contract assets are believed to be overstated.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">The Company expects to amend its annual report on Form 10-K
for the year ended December 31, 2018 and its quarterly reports on Form 10-Q for the quarters ended March 31, 2018, June 30, 2018,
September&nbsp;30, 2018, March 31, 2019, June 30, 2019, and September 30, 2019, and to restate the financial statements and other
disclosures contained therein as soon as reasonably practical.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">At this time, the Company has not fully completed its review
and the expected financial impact of the error described above is preliminary and subject to change. The Company cannot predict
the aggregate amount of revenue and net income that will ultimately be restated or the final outcome or timing of the Company&#8217;s
filing of restated financial statements for the affected periods.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Management has considered the effect of the error on the
Company&#8217;s prior conclusions of the adequacy of its internal control over financial reporting and disclosure controls and
procedures as of the end of each of the applicable periods. As a result of the error, management has determined that a material
weakness existed in the Company&#8217;s internal control over financial reporting as of the end of each of the affected periods.
Accordingly, the Company&#8217;s Chief Executive Officer and Acting Chief Financial Officer have concluded that the Company&#8217;s
disclosure controls and procedures were not effective at the reasonable assurance level as of the end of each of the effective
periods. The Company has reviewed its financial closing process and believes it has identified the corrective action to remediate
the cause of the error. The Company plans to include a discussion of the Company&#8217;s plan to remediate the material weakness
within in the Company&#8217;s annual report on Form 10-K for the year ended December 31, 2019.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">The Company&#8217;s Audit Committee and members of the Company&#8217;s
management have discussed the matters disclosed in this Item 4.02 with CohnReznick.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">On February 14, 2020, the Company issued a press release
announcing the foregoing, which is included as Exhibit 99.1 hereto.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 12pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1in"><b>Item 5.02</b></td><td style="font: 10pt Times New Roman, Times, Serif"><b>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
of Certain Officers.</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">On February 11, 2020, the Company&#8217;s Chief Financial
Officer, Dan Azmon, resigned from the Company and all offices previously held by him. Effective as of February 12, 2020, Thomas
E. Powers, was appointed by the Company&#8217;s board of directors to the position of Acting Chief Financial Officer. In addition
to serving as Chief Financial Officer and Secretary of the Company, Mr. Powers will serve as Chief Financial Officer and Secretary
of the Company&#8217;s wholly-owned subsidiaries, Welding Metallurgy, Inc. and Compac Development Corporation.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Mr. Powers has been employed by the Company since January
2019, serving as Director of Financial Planning and Analysis. Prior to joining the Company, Mr. Powers worked for Triumph Group,
a multi-billion dollar publicly owned aerospace manufacturer, where he last served as Vice President of Financial Planning and
Analysis. At Triumph, he previously held positions of Corporate Controller, Division Controller and served as Interim Chief Financial
Officer.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Mr. Powers will be paid an annual base salary of $225,000.
Additionally, Mr. Powers will receive a one-time equity award of $30,000 of restricted shares of the Company&#8217;s common stock
(&#8220;Shares&#8221;), which Shares will be granted upon the later of the filing date of (i) the Company&#8217;s amended annual
report on Form 10-K/A for the year ended December 31, 2018 or (ii) the Company&#8217;s Form 10-K for the year ended December 31,
2019. The Shares will vest one year from the grant date subject to Mr. Powers&#8217; continuing employment with the Company. The
Shares will be issued pursuant to the Company&#8217;s 2016 Long Term Incentive Plan.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><b><i>Forward Looking Statements</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">When used in this Current Report on Form 8-K, statements
about the Company&#8217;s plans to amend its financial statements, the timing of such amendments, and their effect on the financial
statements, which may be indicated by the words or phrases &#8220;management expects&#8221; or &#8220;the Company expects,&#8221;
&#8220;is anticipated,&#8221; or similar expressions, are intended to identify &#8220;forward-looking statements&#8221; within
the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties
that could cause actual results to differ materially from those expressed in these statements, including, among others: the timing
and nature of the final resolution of the accounting issues discussed in this Current Report on Form 8-K, any delay in the filing
of required periodic reports, the timing and results of the Company&#8217;s review of the effectiveness of internal control over
financial reporting and related disclosure controls and procedures, whether a restatement of financial results will be required
for other periods or for other accounting issues, adverse effects on the Company&#8217;s business related to the disclosures made
in this Current Report on Form 8-K or the reactions of customers or suppliers, any adverse developments in existing legal proceedings
or the initiation of new legal proceedings, and volatility of the Company&#8217;s stock price. Additional risks are included in
the Company&#8217;s Annual Report on Form 10-K for the year ended December 31, 2018. Because the risks, assumptions, and uncertainties
referred to above could cause actual results or outcomes to differ materially from those expressed in any forward-looking statements,
readers are cautioned not to place undue reliance on any such forward-looking statements, each of which speaks only as of the date
made. The Company has no obligation to update any forward-looking statement to reflect events or circumstances after the date hereof.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"></p>

<table style="width: 100%; border-collapse: collapse; margin: 0px;" border="0" cellspacing="0" cellpadding="0">

<tr>
<td style="padding: 0pt;width:10%;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;"><b>Item 9.01</b></p>
</td>
<td style="padding: 0pt;width:90%;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;"><b>Financial Statements and Exhibits.</b></p>
</td>
</tr>
<tr>
<td style="padding: 0pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;"><b>&nbsp;</b></p>
</td>
<td style="padding: 0pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; text-decoration: none; margin: 0pt;"><font style="text-decoration: none;">&nbsp;</font></p>
</td>
</tr>
<tr>
<td style="padding: 0pt;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;"><u>Exhibit</u></p>
</td>
<td style="padding: 0pt;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;"><u>Description</u></p>
</td>
</tr>
<tr>
<td style="padding: 0pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;">&nbsp;</p>
</td>
<td style="padding: 0pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;">&nbsp;</p>
</td>
</tr>
<tr>
<td style="padding: 0pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;"><a href="ex99-1.htm">99.1</a></p>
</td>
<td style="padding: 0pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;"><font face="Times New Roman, Times, serif"><a href="ex99-1.htm">Press Release dated February 14, 2020.</a></font></p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><b>SIGNATURE</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">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 hereunto
duly authorized.</p>

<table style="width: 90%; border-collapse: collapse; margin: 0px;" border="0" cellspacing="0" cellpadding="0">

<tr>
<td style="padding: 0pt; vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;"><font style="color: black;">&nbsp;</font></p>
</td>
<td style="padding: 0pt; vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;">&nbsp;</p>
</td>
<td style="padding: 0pt;" colspan="2" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;">&nbsp;</p>
</td>
</tr>
<tr>
<td style="padding: 0pt; vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;"><font style="color: black;">Dated:&nbsp;&nbsp;February 14, 2020</font></p>
</td>
<td style="padding: 0pt;" colspan="3" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;"><font style="color: black;">CPI AEROSTRUCTURES, INC.</font></p>
</td>
</tr>
<tr>
<td style="padding: 0pt; vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;">&nbsp;</p>
</td>
<td style="padding: 0pt; vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;"><font style="color: black;">&nbsp;</font></p>
</td>
<td style="padding: 0pt;" colspan="2" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;"><font style="color: black;">&nbsp;</font></p>
</td>
</tr>
<tr>
<td style="padding: 0pt; width: 50%; vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;">&nbsp;</p>
</td>
<td style="padding: 0pt; width: 4%; vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;"><font style="color: black;">By:</font></p>
</td>
<td style="border-bottom: black 1pt solid; width: 35%; vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;"><font style="color: black;">/s/ Douglas McCrosson</font></p>
</td>
<td style="vertical-align: top; width: 1%">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;"><font style="color: black;">&nbsp;</font></p>
</td>
</tr>
<tr>
<td style="padding: 0pt; vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;">&nbsp;</p>
</td>
<td style="padding: 0pt; vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;">&nbsp;</p>
</td>
<td style="padding: 0pt;" colspan="2" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;"><font style="color: black;">Douglas McCrosson</font></p>
</td>
</tr>
<tr>
<td style="padding: 0pt; vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;">&nbsp;</p>
</td>
<td style="padding: 0pt; vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;">&nbsp;</p>
</td>
<td style="padding: 0pt;" colspan="2" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;"><font style="color: black;">Chief Executive Officer</font></p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.25in"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.25in"></p>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><A HREF="cvu-8k_021120.htm">CPI Aerostructures, Inc. 8-K</A></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Exhibit 99.1</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><IMG SRC="ex99-1_001.jpg" ALT="" STYLE="height: 39pt; width: 201.75pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: center; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><B>CPI
AEROSTRUCTURES TO RESTATE FISCAL 2018 AND YEAR-TO-DATE FISCAL 2019 FINANCIAL STATEMENTS AS A RESULT OF ERRORS IN CONNECTION WITH
REVENUE RECOGNITION UNDER ASC TOPIC 606</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: center; text-indent: -9.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>-
No Expected Impact on Cash Flows for Relevant Fiscal Periods - </I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>-
Announces Departure of Chief Financial Officer; Appoints Acting Chief Financial Officer -</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: -9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I></I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><B>EDGEWOOD,
NY </B>&ndash; <B>February 14, 2020</B> &ndash; CPI Aerostructures, Inc. (&ldquo;CPI Aero<SUP>&reg;</SUP>&rdquo; or the &ldquo;Company&rdquo;)
(NYSE American: CVU) today announced that the Audit Committee of the Board of Directors of CPI Aero determined, based on the recommendation
of management and in consultation with CPI Aero&rsquo;s independent registered public accounting firm, that the Company&rsquo;s
financial statements included in its annual report on Form 10-K for the year ended December 31, 2018, quarterly reports on Forms
10-Q for the quarters ended March 31, 2018, June 30, 2018, and September 30, 2018, and quarterly reports on Forms 10-Q for the
quarters ended March 31, 2019, June 30, 2019, and September 30, 2019 should no longer be relied upon due to an error in those
financial statements relating to the Company&rsquo;s recognition of revenue from contracts with customers under ASC Topic 606.
Similarly, the independent auditor&rsquo;s reports on the effectiveness of internal control over financial reporting for the year
ended December 31, 2018, management&rsquo;s reports on the effectiveness of internal control over financial reporting, press releases,
and investor communications describing the Company&rsquo;s financial statements for such periods should no longer be relied upon.
The Company&rsquo;s cash flows from operations for the affected periods are not expected to be impacted.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The
error was uncovered as part of the preparation of the Company&rsquo;s 2019 annual financial statements. After reconsideration
of the terms of the Company&rsquo;s contracts with customers, Management&rsquo;s preliminary conclusion is that certain revenues
and net income were recognized prematurely or inaccurately due to an incorrect application of generally accepted accounting principles.
Therefore, previously reported revenue and net income are believed to have been overstated. The error is also expected to have
an impact on the Company&rsquo;s balance sheets for the affected periods. Specifically, retained earnings and contract assets
are believed to be overstated.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; background-color: white"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The
Company expects to amend its annual report on Form 10-K for the year ended December 31, 2018 and its quarterly reports on Form
10-Q for the quarters ended March 31, 2018, June 30, 2018, September 30, 2018, March 31, 2019, June 30, 2019, and September 30,
2019, and to restate the financial statements and other disclosures contained therein as soon as reasonably practical.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Management
has determined that a material weakness existed in the Company&rsquo;s internal control over financial reporting as of the end
of each of the affected periods. The Company has reviewed its financial closing process and believes it has identified the corrective
action necessary to remediate the cause of the error. The Company plans to include a discussion of the Company&rsquo;s plan to
remediate the material weakness in its annual report on Form 10-K for the year ended December 31, 2019. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">&ldquo;The
quality and integrity of our financial reporting process are of paramount importance to all of us at CPI Aero&rdquo; stated Douglas
McCrosson, president and CEO of CPI Aero. &ldquo;We are currently assessing the precise impact of the stated error in CPI Aero&rsquo;s
revenue recognition in previously issued financial statements. I want to stress that we do not believe this error will have an
impact on the reported operating cash flows of the Company during the affected periods, or on projected future cash flows going
forward. Similarly, we do not believe that the error will impact the growth prospects derived from the progress we have made in
recent years to build and execute on our record defense backlog and improve our working capital management.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The
Company also announced that Chief Financial Officer Dan Azmon resigned from the Company, effective February 11, 2020. The
Board of Directors appointed current director of financial planning and analysis, Thomas Powers, a senior financial executive
with over three decades of revenue accounting for long-term contracts and defense and aerospace manufacturing experience, to
the position of acting chief financial officer. Mr. Powers joined CPI Aero in January 2019. Prior to joining the Company, Mr.
Powers was previously with Triumph Group, a multi-billion dollar publicly owned </FONT>aerospace manufacturer listed on the
New York Stock Exchange, where he last served as vice president of financial planning and analysis. At Triumph, he previously
held positions of segment controller, division controller and served as interim chief financial officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Concluded
Mr. McCrosson, &ldquo;Tom&rsquo;s successful career at a major aerospace manufacturer included the adoption of the new ASC Topic
606 accounting standard. That first-hand, practical experience, combined with his detailed knowledge of CPI Aero&rsquo;s business
and financial operations make him uniquely qualified to lead our financial organization at this time.&rdquo;</FONT><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; background-color: white"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>About
CPI Aero </U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">CPI
Aero is a U.S. manufacturer of structural assemblies for fixed wing aircraft, helicopters and airborne Intelligence Surveillance
and Reconnaissance pod systems in both the commercial aerospace and national security markets. Within the global aerostructure
supply chain, CPI Aero is either a Tier 1 supplier to aircraft OEMs or a Tier 2 subcontractor to major Tier 1 manufacturers. CPI
also is a prime contractor to the U.S. Department of Defense, primarily the Air Force. In conjunction with its assembly operations,
CPI Aero provides engineering, program management, supply chain management, and MRO services. CPI Aero is included in the Russell
Microcap&reg; Index.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><I>When
used in this press release, statements about the Company&rsquo;s plans to amend its financial statements, the timing of such amendments,
and their effect on the financial statements, which may be indicated by the words or phrases &ldquo;management expects&rdquo;
or &ldquo;the Company expects,&rdquo; &ldquo;is anticipated,&rdquo; or similar expressions, are intended to identify &ldquo;forward-looking
statements&rdquo; within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain
risks and uncertainties that could cause actual results to differ materially from those expressed in these statements, including,
among others: the timing and nature of the final resolution of the accounting issues discussed in this press release, any delay
in the filing of required periodic reports, the timing and results of the Company&rsquo;s review of the effectiveness of internal
control over financial reporting and related disclosure controls and procedures, whether a restatement of financial results will
be required for other periods or for other accounting issues, adverse effects on the Company&rsquo;s business related to the disclosures
made in this press release or the reactions of customers or suppliers, any adverse developments in existing legal proceedings
or the initiation of new legal proceedings, and volatility of the Company&rsquo;s stock price. Additional risks are included in
the Company&rsquo;s Annual Report on Form 10-K for the year ended December 31, 2018. Because the risks, assumptions, and uncertainties
referred to above could cause actual results or outcomes to differ materially from those expressed in any forward-looking statements,
readers are cautioned not to place undue reliance on any such forward-looking statements, each of which speaks only as of the
date made. The Company has no obligation to update any forward-looking statement to reflect events or circumstances after the
date hereof.</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">CPI
Aero&reg; is a registered trademark of CPI Aerostructures, Inc. For more information, visit www.cpiaero.com, and follow us on
Twitter @CPIAERO. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 7.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><B>Contact:</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Investor
Relations Counsel:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">LHA
Investor Relations</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Sanjay
M. Hurry/ Jody Burfening</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">(212)
838-3777</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 7.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><U>cpiaero@lhai.com</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 7.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><U>www.lhai.com</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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