What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2020-09-21 compared with 2019-09-16 · 30 added, 31 removed, 203 unchanged (23% of the section changed)

30 unchanged sentences

2019, the Company's total sales were $31,526,231 and $ 36,477,851, respectively.

three domestic customers accounted for 34%, 10%, and 10%, respectively, of total sales in 2019.

Sales to two domestic

customers accounted for 33% and 27% of total sales in 2018.

two domestic customers, accounted for 24%, and 14%, respectively, of total sales in 2020.

Sales to three domestic customers accounted

for 34%, 10%, and 10%, respectively, of total sales in 2019.

This high concentration level with these customers presents significant

5 unchanged sentences

2019 were approximately $2,077,000 and $2,638,000, respectively.

The decrease is primarily due to the decrease in antenna shipments.

The decrease is primarily due to the decrease in power supply

Sources of Raw Materials

The Company has not typically experienced

any significant delays or shortages with respect to the purchase of raw materials and components used in the manufacture of its

products and has at least two potential sources of supply for a majority of its raw materials.

However, certain components used

in its products are available from a single or a limited number of sources.

Despite the risk associated with single or limited

source suppliers, the benefits of higher quality goods and timely delivery minimize and often limit any potential risk and can

eliminate problems with part failures during production.

The Company has at least two potential

sources of supply for a majority of its raw materials.

However, certain components used in its products are available from a single

or a limited number of sources.

Despite the risk associated with single or limited source suppliers, the benefits of higher quality

goods and timely delivery minimize and often limit any potential risk and can eliminate problems with part failures during production.

At times replacements are required to cover obsolete parts.

The power electronics industry is experiencing

sustained growth and continuing demand from multiple manufacturing sectors.

This growth has created volatility and unpredictability

in the availability of certain electronic components and, in some cases, has created industry shortages.

These shortages have a

strong potential to impact our ability to support our customer’s schedule demands, as lead times for these components have,

in some instances, increased from readily available to waiting times of nearly a year or more.

We are working with our customers

to mitigate adverse impact upon our ability to service their requirements resulting from the current industry-wide phenomenon.

Historically, the Company has not typically

experienced any significant delays or shortages with respect to the purchase of raw materials and components used in the manufacture

of its products.

However, over the past several years, the growth and continuing demand in the power electronics industry across

multiple manufacturing sectors has created volatility and unpredictability in the availability of certain electronic components

and, in some cases, continues to create industry shortages.

These shortages have and will likely continue to impact our ability

to support our customer’s schedule demands, as lead times for these components have, in some instances, increased from readily

available to waiting times of nearly a year or more.

We continue to work with our customers to mitigate any adverse impact upon

our ability to service their requirements resulting from the industry-wide phenomenon.

The President of the United States continued

the imposition of tariffs on steel and aluminum imports from various countries in 2020.

While currently we are not experiencing

Although we are not currently experiencing

any significant financial or raw material sourcing issues resulting from the product tariffs, the Company cannot provide any assurance

18 unchanged sentences

The unfunded backlog at June 30, 2019 was $2.7 million.

For both fiscal years ended 2019 and 2018, the unfunded backlog is comprised primarily of the same multi-year order from a single

For both fiscal years ended 2020 and 2019, the unfunded backlog is comprised of the same multi-year order from a single customer.

Contracts are subject to modification, change or cancellation, and the Company accounts for these changes as they are probable and estimable.

The Company evaluates the impact of any scope modifications and will adjust reserves as information is known and estimable.

to year end, the Company received a request from a customer to temporarily stop work on a contract for a minimum of 120 days.

has determined that there is no immediate impact for the request, however the Company will continue to evaluate any impact on the financial

The Company's backlog and risks associated with government contracts is discussed in greater detail below.

61 unchanged sentences

The Company had 151 employees as of August

During the year ended June 30, 2019, we increased the number of employees to support our business growth.

Approximately

40% of the employees are represented by the International Brotherhood of Electrical Workers.

A new collective bargaining agreement

was approved in July 2018.

The four-year agreement expires on June 30, 2022.

Relations with

the Union are considered good.

Approximately 40% of the employees are represented by the International Brotherhood of Electrical Workers.

current collective bargaining agreement expires on June 30, 2022.

Relations with the Union are considered good.

Government Regulations

77 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business