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Stockholders' Equity | 6 Months Ended
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Jun. 30, 2018
Equity [Abstract] |
STOCKHOLDERS' EQUITY | Note 6. STOCKHOLDERS' EQUITY Common Stock -- Sale of Unregistered Equity Securities On November 29, 2017, Air Industries Group (the “Company”) entered into a Placement Agency Agreement with Taglich Brothers, Inc. as placement agent (the “Placement Agent”), pursuant to which the Placement Agent agreed to offer on behalf of the Company, on a best efforts basis, up to 1,600,000 shares of the Company’s common stock (the “Shares”) to accredited investors (the “Offering”), together with five-year warrants to purchase 24,000 shares of common stock (the “Warrants”) for each $100,000 of shares purchased, in a private placement exempt from the registration requirements of the Securities Act. On January 9, 2018 the Company issued and sold to 35 accredited investors an aggregate of 852,000 Shares and Warrants to purchase an additional 255,600 shares of common stock, for gross proceeds of $1,065,000 pursuant to the Offering. The purchase price for the Shares and Warrants was $1.25 per Share. The Company had previously sold a total of 725,390 Shares and Warrants to purchase an additional 224,400 shares of common stock for gross proceeds of $935,000 on November 29, 2017, December 5, 2017 and December 29, 2017 pursuant to the Offering. The Warrants have an exercise price of $1.50 per share, subject to certain anti-dilution and other adjustments, including stock splits, and in the event of certain fundamental transactions such as mergers and other business combinations, and may be exercised on a cashless basis for a lesser number of shares depending upon prevailing market prices at the time of exercise. The Warrants may be exercised until November 30, 2022. In connection with the Offering, Taglich Brothers, Inc., a related party, which acted as placement agent for the sale of the Shares and Warrants, is entitled to a placement agent fee equal to $104,000 (8% of the amounts invested), payable at the Company’s option, in cash or additional shares of common stock and warrants having the same terms and conditions as the Shares and Warrants. Michael Taglich and Robert Taglich, directors of the Company, are principals of Taglich Brothers, Inc. The placement agent fee was $85,200 and $0 for the three months ended March 31, 2018 and 2017, respectively. The Offering commenced November 29, 2017 and was completed in four closings for gross proceeds of $2,000,000 as follows:
|  | Shares |  |  | Warrants |
Date |  | Total Investment |  |  | # of shares |  |  | Price |  |  | # of warrants |  |  | Ex Price |
11/29/2017 |  | $ | 300,000 |  |  |  | 217,390 |  |  | $ | 1.38 |  |  |  | 72,000 |  |  | $ | 1.50 |
12/5/2017 |  |  | 400,000 |  |  |  | 320,000 |  |  | $ | 1.25 |  |  |  | 96,000 |  |  | $ | 1.50 |
12/29/2017 |  |  | 235,000 |  |  |  | 188,000 |  |  | $ | 1.25 |  |  |  | 56,400 |  |  | $ | 1.50 |
Subtotal- 2017 |  |  | 935,000 |  |  |  | 725,390 |  |  |  |  |  |  |  | 224,400 |  |  |  |  |
1/9/2018 |  |  | 1,065,000 |  |  |  | 852,000 |  |  | $ | 1.25 |  |  |  | 255,600 |  |  | $ | 1.50 |
Total Offering |  | $ | 2,000,000 |  |  |  | 1,577,390 |  |  |  |  |  |  |  | 480,000 |  |  |  |  |
During the six months ended June 30, 2018, the Company issued 123,456 shares of common stock in lieu of cash payment for various services provided to the Company. On July 19, 2018, the Company issued and sold a total of 322,000 shares of common stock for gross proceeds of $460,460, or a $1.43 per share, to four accredited investors pursuant to subscription agreements. For acting as placement agent of the offering, Taglich Brothers, Inc. is entitled to a placement agent fee equal to $27,627.60 (6% of the gross proceeds of the offering), payable at the Company’s option, in cash or shares of Common Stock on the terms sold to the purchasers.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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