XML 31 R16.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Summary of Significant Accounting Policies (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2018
Accounting Policies [Abstract] |
Schedule of inventory valuation |
|  | June 30, |  |  | December 31, |
|  | 2018 |  |  | 2017 |
|  | (unaudited) |  |  |  |
Raw Materials |  | $ | 14,383,000 |  |  | $ | 13,936,000 |
Work In Progress |  |  | 19,715,000 |  |  |  | 20,504,000 |
Finished Goods |  |  | 10,963,000 |  |  |  | 10,636,000 |
Inventory Reserve |  |  | (6,016,000 | ) |  |  | (5,871,000 | )
Total Inventory |  | $ | 39,045,000 |  |  | $ | 39,205,000 |
Schedule of credit and concentration risks | There were two customers that represented 45.7% and three customers represented 57.2% of total net sales for the three months ended June 30, 2018 and 2017, respectively. This is set forth in the table below.
Customer |  | Percentage of Sales |
|  | June 2018 |  |  | June 2017 |
|  | (Unaudited) |  |  | (Unaudited) |
1 |  |  | 26.1 |  |  |  | 16.7 |
2 |  |  | 19.6 |  |  |  | 23.5 |
3 |  |  | * |  |  |  | 17.0 |
* Customer was less than 10% of sales at June 30, 2018. There were two customers that represented 49.2% of total sales, and three customers that represented 53.5% of total sales for the six months ended June 30, 2018 and 2017, respectively. This is set forth in the table below.
Customer |  | Percentage of Sales |
|  | June 2018 |  |  | June 2017 |
|  | (Unaudited) |  |  | (Unaudited) |
1 |  |  | 26.6 |  |  |  | 19.4 |
2 |  |  | 22.6 |  |  |  | 16.7 |
3 |  |  | * |  |  |  | 17.4 |
* Customer was less than 10% of sales at June 30, 2018. There were two customers that represented 49.8% of gross accounts receivable and three customers that represented 55.5% of gross accounts receivable at June 30, 2018 and December 31, 2017, respectively. This is set forth in the table below.
Customer |  | Percentage of Receivables |
|  | June 2018 |  |  | December 2017 |
|  | (Unaudited) |  |  |  |
1 |  |  | 38.5 |  |  |  | 30.3 |
2 |  |  | 11.3 |  |  |  | 10.5 |
3 |  |  | * |  |  |  | 14.7 |
* Customer was less than 10% of gross accounts receivable at June 30, 2018.
Schedule of earnings per share |
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, 2018 |  |  | June 30, 2017 |  |  | June 30, 2018 |  |  | June 30, 2017 |
|  | (Unaudited) |  |  | (Unaudited) |  |  | (Unaudited) |  |  | (Unaudited) |
Weighted average shares outstanding used to compute basic earnings per share |  |  | 26,013,426 |  |  |  | 7,650,165 |  |  |  | 26,057,062 |  |  |  | 7,650,165 |
Effect of dilutive stock options and warrants |  |  | 65,951 |  |  |  | - |  |  |  | — |  |  |  | — |
Weighted average shares outstanding and dilutive securities used to compute dilutive earnings per share |  |  | 26,079,377 |  |  |  | 7,650,165 |  |  |  | 26,057,062 |  |  |  | 7,650,165 |
Schedule of anti-dilutive securities |
|  | Six Months Ended |
|  | June 30, 2018 |  |  | June 30, 2017 |
|  | (Unaudited) |  |  | (Unaudited) |
Stock Options |  |  | 695,000 |  |  |  | - |
Warrants |  |  | 480,000 |  |  |  | 85,000 |
|  |  | 1,175,000 |  |  |  | 85,000 |
|  | June 30, 2018 |  |  | June 30, 2017 |
|  | (Unaudited) |  |  | (Unaudited) |
Convertible Preferred Stock |  |  | — |  |  |  | 2,631,000 |
Stock Options |  |  | 349,000 |  |  |  | 516,000 |
Warrants |  |  | 1,480,000 |  |  |  | 979,000 |
|  |  | 1,829,000 |  |  |  | 4,126,000 |

X
- Definition Designated as Series """"B"""" Convertible Preferred -$.001 Par Value, 4,000,000 shares authorized, 0 shares issued and outstanding as of September 30, 2012, December 31, 2011 and December 31, 2010, respectively; Liquidation Value, $ 0 + References No definition available. + Details
Name: | AIRI_AntidilutiveSecuritiesTableTextBlock
Namespace Prefix: | AIRI_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(c)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(a)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766 + Details
Name: | us-gaap_ScheduleOfInventoryCurrentTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the nature of a concentration, a benchmark to which it is compared, and the percentage that the risk is to the benchmark. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=109250915&loc=d3e13537-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=109250915&loc=d3e13531-108611 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6404-108592 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6327-108592 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 18 -URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6351-108592 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6442-108592 + Details
Name: | us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration