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Assets Held for Sale and Liabilities Directly Associated | 12 Months Ended
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Dec. 31, 2018
Assets Held for Sale and Liabilites Direclty Associated [Abstract] |
ASSETS HELD FOR SALE AND LIABILITES DIRECTLY ASSOCIATED | Note 8. ASSETS HELD FOR SALE AND LIABILITES DIRECTLY ASSOCIATED WMI As discussed in Note 1, on December 20, 2018, the Company sold all of its outstanding shares of WMI and its subsidiaries to CPI for a purchase price of $9,000,000, reduced by a working capital adjustment of ($1,093,000). At December 31, 2017, the Company reclassified its assets held for sale and the liabilities directly associated to these assets. The components of these assets and liabilities are as follows: Components of Assets Held for Sale and Liabilities Directly Associated
|  | December 31, 2017 |
Assets Held for Sale |  |  |
Accounts Receivable, net of allowance for doubtful accounts |  | $ | 2,217,000 |
Inventory, net of reserves |  |  | 8,065,000 |
Prepaid and other assets |  |  | 485,000 |
Property and equipment, net of accumulated depreciation |  |  | 878,000 |
Impairment of Assets Held for Sale |  |  | (1,563,000 | )
Assets Held for Sale |  | $ | 10,082,000 |
Accounts payable and accrued expenses |  |  | 2,138,000 |
Deferred Revenue |  |  | 521,000 |
Notes Payable & Capital lease obligations |  |  | 11,000 |
Deferred rent |  |  | 125,000 |
Liabilities directly associated to Assets Held for Sale |  | $ | 2,795,000 |
Additionally, WMI’s operations were previously reported in the Company’s Aerostructures & Electronics segment. The amounts below represent WMI’s operations that have been excluded from this segment for the years ended December 31, 2018 and 2017, respectively:
Segment Data |  | 2018 |  |  | 2017 |
Aerostructures & Electronics |  |  |  |  |  |
Net Sales |  | $ | 13,853,000 |  |  | $ | 13,129,000 |
Gross Profit |  |  | 256,000 |  |  |  | 1,884,000 |
Pre Tax (Loss) Income |  |  | (1,042,000) |  |  |  | (6,678,000 | )
Assets |  |  | - |  |  |  | 10,082,000 |

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