Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Apr. 30, 2023 | Jul. 31, 2023 | Oct. 31, 2022 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0000015847 | ||
Entity Registrant Name | BUTLER NATIONAL CORP | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --04-30 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2023 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Apr. 30, 2023 | ||
Document Transition Report | false | ||
Entity File Number | 0-1678 | ||
Entity Incorporation, State or Country Code | KS | ||
Entity Tax Identification Number | 41-0834293 | ||
Entity Address, Address Line One | One Aero Plaza | ||
Entity Address, City or Town | New Century | ||
Entity Address, State or Province | KS | ||
Entity Address, Postal Zip Code | 66031 | ||
City Area Code | 913 | ||
Local Phone Number | 780-9595 | ||
Title of 12(b) Security | Common Stock $.01 Par Value | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | true | ||
Document Financial Statement Error Correction [Flag] | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 39,075,606 | ||
Entity Common Stock, Shares Outstanding | 68,727,900 | ||
No Trading Symbol Flag | true | ||
Auditor Name | RBSM LLP | ||
Auditor Location | Las Vegas, NV | ||
Auditor Firm ID | 87 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Apr. 30, 2023 | Apr. 30, 2022 |
CURRENT ASSETS: | ||
Cash | $ 21,997 | $ 12,487 |
Accounts receivable, net | 3,793 | 3,636 |
Inventory, net | 8,947 | 8,872 |
Contract asset | 1,893 | 1,470 |
Prepaid expenses and other current assets | 3,532 | 1,361 |
Total current assets | 40,162 | 27,826 |
LEASE RIGHT-TO-USE ASSET, net | 3,081 | 2,728 |
PROPERTY, PLANT AND EQUIPMENT, net | 59,067 | 58,846 |
SUPPLEMENTAL TYPE CERTIFICATES (net of accumulated amortization of $10,603 at April 30, 2023 and $9,336 at April 30, 2022) | 8,722 | 8,018 |
OTHER ASSETS: | ||
Other assets (net of accumulated amortization of $12,290 at April 30, 2023 and $11,575 at April 30, 2022) | 1,401 | 1,621 |
Deferred tax asset, net | 1,473 | 1,770 |
Total other assets | 2,874 | 3,391 |
Total assets | 113,906 | 100,809 |
CURRENT LIABILITIES: | ||
Accounts payable | 5,320 | 2,773 |
Current maturities of long-term debt | 4,987 | 5,165 |
Current maturities of lease liability | 145 | 106 |
Contract liability | 6,031 | 820 |
Gaming facility mandated payment | 1,730 | 1,630 |
Compensation and compensated absences | 6,722 | 1,911 |
Income tax payable | 228 | 1,049 |
Other current liabilities | 214 | 211 |
Total current liabilities | 25,377 | 13,665 |
Long-term debt, net of current maturities | 38,418 | 43,411 |
Lease liability, net of current maturities | 3,330 | 2,899 |
Total long-term liabilities | 41,748 | 46,310 |
Total liabilities | 67,125 | 59,975 |
COMMITMENTS AND CONTINGENCIES | ||
STOCKHOLDERS' EQUITY: | ||
Common stock, par value $.01: Authorized 100,000,000 shares, issued 80,871,211 shares, and outstanding 76,891,689 shares at April 30, 2023 and issued 80,348,572 shares, and outstanding 76,458,146 shares at April 30, 2022 | 808 | 803 |
Capital contributed in excess of par | 13,647 | 12,160 |
Treasury stock at cost, 3,979,522 shares at April 30, 2023 and 3,890,426 shares at April 30, 2022 | (2,138) | (2,077) |
Retained earnings | 34,464 | 29,948 |
Total stockholders' equity | 46,781 | 40,834 |
Total liabilities and stockholders' equity | 113,906 | 100,809 |
Preferred Class A [Member] | ||
STOCKHOLDERS' EQUITY: | ||
Preferred stock | 0 | 0 |
Preferred Class B [Member] | ||
STOCKHOLDERS' EQUITY: | ||
Preferred stock | $ 0 | $ 0 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | |
Apr. 30, 2023 | Apr. 30, 2022 | |
Supplemental type certificates, accumulated amortization | $ 10,603 | $ 9,336 |
Other assets, accumulated amortization | $ 12,290 | $ 11,575 |
Preferred stock, par value (in dollars per share) | $ 5 | $ 5 |
Preferred stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, issued (in shares) | 80,871,211 | 80,348,572 |
Common stock, outstanding (in shares) | 76,891,689 | 76,458,146 |
Treasury stock, shares (in shares) | 3,979,522 | 3,890,426 |
Preferred Class A [Member] | ||
Preferred stock, stated value (in dollars per share) | $ 100 | $ 100 |
Preferred stock, dividend rate | 9.80% | 9.80% |
Preferred stock, liquidation value | $ 100 | $ 100 |
Preferred stock, redemption value | $ 100 | $ 100 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Preferred stock, designated classes (in shares) | 200,000 | 200,000 |
Preferred Class B [Member] | ||
Preferred stock, stated value (in dollars per share) | $ 1,000 | $ 1,000 |
Preferred stock, dividend rate | 6% | 6% |
Preferred stock, liquidation value | $ 1,000 | $ 1,000 |
Preferred stock, redemption value | $ 1,000 | $ 1,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Preferred stock, designated classes (in shares) | 200,000 | 200,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | |
Apr. 30, 2023 | Apr. 30, 2022 | |
REVENUES: | ||
Revenues | $ 75,182 | $ 71,517 |
COSTS AND EXPENSES: | ||
Marketing and advertising | 5,246 | 5,117 |
General, administrative and other | 19,979 | 13,876 |
Total costs and expenses | 66,528 | 55,388 |
OPERATING INCOME | 8,654 | 16,129 |
OTHER INCOME (EXPENSE): | ||
Interest expense | (2,743) | (2,689) |
Forgiveness of debt | 0 | 2,001 |
Gain on sale of airplanes | 410 | 75 |
Gain on sale of building | 69 | 0 |
Other | 137 | 0 |
Total other expense | (2,127) | (613) |
INCOME BEFORE INCOME TAXES | 6,527 | 15,516 |
PROVISION FOR INCOME TAXES | ||
Provision for income taxes | 1,714 | 3,102 |
Deferred income tax | 297 | 174 |
NET INCOME | 4,516 | 12,240 |
Net income attributable to noncontrolling interest in BHCMC, LLC | 0 | (1,872) |
NET INCOME ATTRIBUTABLE TO BUTLER NATIONAL CORPORATION | $ 4,516 | $ 10,368 |
BASIC EARNINGS PER COMMON SHARE ATTRIBUTABLE TO BUTLER NATIONAL CORPORATION (in dollars per share) | $ 0.06 | $ 0.14 |
WEIGHTED AVERAGE SHARES USED IN PER SHARE CALCULATION (in shares) | 76,456,631 | 75,340,131 |
DILUTED EARNINGS PER COMMON SHARE ATTRIBUTABLE TO BUTLER NATIONAL CORPORATION (in dollars per share) | $ 0.06 | $ 0.14 |
WEIGHTED AVERAGE SHARES USED IN PER SHARE CALCULATION (in shares) | 76,456,631 | 75,340,131 |
Professional Services [Member] | ||
REVENUES: | ||
Revenues | $ 38,041 | $ 37,191 |
COSTS AND EXPENSES: | ||
Cost of services and products | 15,449 | 13,961 |
Aerospace Products [Member] | ||
REVENUES: | ||
Revenues | 37,141 | 34,326 |
COSTS AND EXPENSES: | ||
Cost of services and products | $ 25,854 | $ 22,434 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock, Common [Member] | Retained Earnings [Member] | Parent [Member] | Noncontrolling Interest [Member] | Total |
Balance (in shares) at Apr. 30, 2021 | 79,070,382 | 3,703,633 | |||||
Balance at Apr. 30, 2021 | $ 790 | $ 16,900 | $ (1,909) | $ 19,580 | $ 35,361 | $ 6,018 | $ 41,379 |
Issuance of stock to benefit plan (in shares) | 1,328,190 | 0 | 1,328,190 | ||||
Issuance of stock to benefit plan | $ 13 | 794 | $ 0 | 0 | 807 | 0 | $ 807 |
Stock repurchase (in shares) | 0 | 186,793 | |||||
Stock repurchase | $ 0 | 0 | $ (168) | 0 | (168) | 0 | (168) |
Purchase of non-controlling interest in BHCMC, LLC | $ 0 | (6,119) | $ 0 | 0 | (6,119) | (7,890) | (14,009) |
Deferred compensation, restricted stock (in shares) | (50,000) | 0 | |||||
Deferred compensation, restricted stock | $ 0 | 585 | $ 0 | 0 | 585 | 0 | 585 |
Net Income | 0 | 0 | 0 | 10,368 | 10,368 | 1,872 | 12,240 |
Deferred compensation, restricted stock | $ 0 | (585) | $ 0 | 0 | (585) | 0 | (585) |
Balance (in shares) at Apr. 30, 2022 | 80,348,572 | 3,890,426 | |||||
Balance at Apr. 30, 2022 | $ 803 | 12,160 | $ (2,077) | 29,948 | 40,834 | 0 | $ 40,834 |
Issuance of stock to benefit plan (in shares) | 997,639 | 0 | 997,639 | ||||
Issuance of stock to benefit plan | $ 9 | 774 | $ 0 | 0 | 783 | 0 | $ 783 |
Stock repurchase (in shares) | 0 | 89,096 | |||||
Stock repurchase | $ 0 | 0 | $ (61) | 0 | (61) | 0 | (61) |
Deferred compensation, restricted stock (in shares) | (875,000) | 0 | |||||
Deferred compensation, restricted stock | $ 8 | (365) | $ 0 | 0 | (357) | 0 | (357) |
Net Income | $ 0 | 0 | $ 0 | 4,516 | 4,516 | 0 | 4,516 |
Stock award to director (in shares) | 400,000 | 0 | |||||
Stock award to director | $ 4 | 348 | $ 0 | 0 | 352 | 0 | 352 |
Deferred compensation, restricted stock | $ (8) | 365 | $ 0 | 0 | 357 | 0 | 357 |
Balance (in shares) at Apr. 30, 2023 | 80,871,211 | 3,979,522 | |||||
Balance at Apr. 30, 2023 | $ 808 | $ 13,647 | $ (2,138) | $ 34,464 | $ 46,781 | $ 0 | $ 46,781 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Apr. 30, 2023 | Apr. 30, 2022 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 4,516 | $ 12,240 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 5,898 | 5,281 |
Forgiveness of debt | 0 | (2,001) |
Stock issued for benefit plan | 783 | 807 |
Stock awarded to director | 352 | 0 |
Deferred income tax expense | 297 | 174 |
Gain on sale of airplane | (410) | (75) |
Gain on sale of building | (69) | 0 |
Deferred compensation, restricted stock | 357 | 585 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (157) | (1,675) |
Inventory | (75) | (304) |
Contract asset | (423) | (1,049) |
Prepaid expenses and other assets | (2,171) | 141 |
Accounts payable | 2,547 | 880 |
Contract liability | 5,211 | (4,978) |
Lease liability | 188 | 148 |
Accrued liabilities | 4,811 | 49 |
Gaming facility mandated payment | 100 | 172 |
Income tax payable | (821) | 837 |
Other liabilities | 3 | (54) |
Net cash provided by operating activities | 20,937 | 11,178 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Capital expenditures | (6,510) | (9,579) |
Proceeds from sale of airplane | 410 | 75 |
Proceeds from sale of building | 164 | 0 |
Net cash used in investing activities | (5,936) | (9,504) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Borrowings of long-term debt | 0 | 1,262 |
Repayments of long-term debt | (5,171) | (4,388) |
Payments on right-to-use liability | (259) | (256) |
Repurchase of common stock | (61) | (168) |
Net cash used in financing activities | (5,491) | (11,209) |
NET INCREASE (DECREASE) IN CASH | 9,510 | (9,535) |
CASH, beginning of year | 12,487 | 22,022 |
CASH, end of year | 21,997 | 12,487 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Interest paid | 2,752 | 2,684 |
Income taxes paid | 2,536 | 2,265 |
NON CASH INVESTING AND FINANCING ACTIVITY: | ||
Notes receivable forgiven as part of purchase of noncontrolling interest in BHCMC, LLC | 0 | 780 |
Deferred tax asset relating to the purchase of noncontrolling interest in BHCMC, LCC | 0 | 2,344 |
Purchase of noncontrolling interest - note receivable and other liabilities | 0 | 6,350 |
Lease right-to-use assets purchased | 541 | 247 |
Lease liability for purchase of assets under lease | 541 | 0 |
Notes Payable to Bank [Member] | ||
NON CASH INVESTING AND FINANCING ACTIVITY: | ||
Secured notes payable | 0 | 7,914 |
BHCMC, LLC [Member] | ||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Purchase of noncontrolling interest in BHCMC, LLC | $ 0 | $ (7,659) |
Note 1 - Nature of Operations,
Note 1 - Nature of Operations, Organization and Significant Accounting Policies | 12 Months Ended |
Apr. 30, 2023 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. NATURE OF OPERATIONS, ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES The accompanying consolidated financial statements include the accounts of Butler National Corporation (BNC) and its wholly-owned active subsidiaries, Avcon Industries, Inc., BCS Design, Inc., Butler National Service Corporation, Butler National Corporation-Tempe, Butler Avionics, Inc., Butler National, Inc., Butler Temporary Services, Inc., Kansas International Corporation, Kansas International DDC, LLC, and BHCMC, LLC (collectively, The Company). These consolidated financial statements and related notes are presented in accordance with generally accepted accounting principles in the United States (“GAAP”), expressed in U.S. dollars. All amounts are in thousands, except share and par values, unless otherwise noted. All significant intercompany balances and transactions have been eliminated in consolidation. The fiscal year end of the Company is April 30. Avcon Industries, Inc. modifies business category aircraft at its Newton, Kansas facility. Modifications can include passenger-to-freighter configuration, addition of aerial photography capability, ISR modifications, and stability enhancing modifications. Butler Avionics, Inc. sells, installs and repairs avionics equipment (airplane radio equipment and flight control systems). Butler National, Inc. acquires airplanes, principally Learjets, to refurbish and sell. Butler Temporary Services, Inc. processes company payroll. Kansas International Corporation and Kansas International DDC, LLC own property. Butler National Corporation-Tempe is primarily engaged in the manufacture of electronics for weapon control systems used by the military. Butler National Service Corporation is a management consulting and administrative services firm providing business planning and financial coordination to Indian tribes interested in owning and operating casinos under the terms of the Indian Gaming Regulatory Act of 1988. SIGNIFICANT ACCOUNTING POLICIES: a) Accounts receivable: Accounts receivable are carried on a gross basis, with no not no b) Use of Estimates: The preparation of financial statements in conformity with generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Future events and their effects cannot be determined with certainty. Therefore, the determination of estimates requires the exercise of judgment. Actual results could differ from those estimates, and any such differences may c) Inventories: Inventories are priced at the lower of cost, determined on a first first Inventory obsolescence is examined on a regular basis. When determining our estimate of obsolescence, we consider inventory that has been inactive for five d) Property and Related Depreciation: Machinery and equipment are recorded at cost and depreciated over their estimated useful lives. Depreciation is provided on a straight-line basis. Description Estimated useful life Building and improvements 39 years or the shorter of the estimated useful life of the asset or the underlying lease term Aircraft 5 years Machinery and equipment 5 years Office furniture and fixtures 5 years Leasehold improvements Shorter of the estimated useful life of the asset or the underlying lease term Maintenance and repairs are charged to expense as incurred. The cost and accumulated depreciation of assets retired are removed from the accounts and any resulting gains or losses are reflected as income or expense. e) Long-Lived Assets: The Company accounts for its long-lived assets in accordance with ASC Topic 360 10, 360 10 may no f) Other Assets: Our other asset account includes assets of $5,500 related to the Kansas Expanded Lottery Act Management Contract privilege fee, $6,646 of gaming equipment we were required to pay for ownership by the State of Kansas Lottery, and JET autopilot intellectual property of $1,417, and miscellaneous other assets of $128. BHCMC expects the $5,500 December 2024. December 15, 2024, 2039, 15 three April 30, 2023 2022 Other assets net values are as follows: (dollars in thousands) 2023 2022 Privilege fee $ 5,500 $ 5,500 Less amortized costs 4,795 4,372 Privilege fee balance $ 705 $ 1,128 Intangible gaming equipment $ 6,646 $ 6,151 Less amortized costs 6,078 5,868 Intangible gaming equipment balance $ 568 $ 283 JET autopilot intellectual property $ 1,417 $ 1,417 Less amortized costs 1,417 1,335 JET autopilot intellectual property balance $ - $ 82 g) Supplemental Type Certificates: Supplemental Type Certificates (STCs) are authorizations granted by the Federal Aviation Administration (FAA) for specific modification of a certain aircraft. The STC authorizes us to perform modifications, installations, and assemblies on applicable customer-owned aircraft. Costs incurred to obtain STCs are capitalized and subsequently amortized over seven April 30, 2023 2022 h) Revenue Recognition: ASC Topic 606, Under ASC 606, five 1 A contract with a customer exists when (i) the Company enters into an enforceable contract with a customer that defines each party’s rights regarding the services to be transferred and identifies the payment terms related to these services, (ii) the contract has commercial substance and (iii) the Company determines that collection of substantially all consideration for services that are transferred is probable based on the customer’s intent and ability to pay the promised consideration. 2 At contract inception, an entity shall assess the goods or services promised in a contract with a customer and shall identify as a performance obligation each promise to transfer to the customer. Performance obligations promised in a contract are identified based on the services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the service either on its own or together with other resources that are readily available from third not 3 The transaction price is the amount that an entity allocates to the performance obligations identified in the contract and, therefore, represents the amount of revenue recognized as those performance obligations are satisfied. The transaction price is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer. 4 Once a contract and associated performance obligations have been identified and the transaction price has been determined, ASC 606 5 Revenue is recognized when or as performance obligations are satisfied by transferring control of a promised good or service to a customer. Control transfers either over time or at a point in time. Revenue is recognized when control of the promised services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those services. Aircraft modifications are performed under fixed-price contracts unless modified with a change order. Significant payment terms are generally included in these contracts, requiring a 30% 50% one Revenue from Aircraft Avionics and Special Mission Electronics are recognized when shipped. Payment for these Avionics products is due within 30 days of the invoice date after shipment. Regarding warranties and returns, our products are special order and are not may not Gaming revenue is the gross gaming win as reported by the Kansas Lottery casino reporting systems, less the mandated payments by and for the State of Kansas. Electronic games-slots and table games revenue is the aggregate of gaming wins and losses. Liabilities are recognized for chips and "ticket-in, ticket-out" coupons in the customers' possession, and for accruals related to anticipated payout of progressive jackpots. Progressive gaming machines, which contain base jackpots that increase at a progressive rate based on the number of coins played, are deducted from revenue as the value of jackpots increase. Effective September 1, 2022, i) Fair Value Measurements: Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or a liability. Assets and liabilities recorded at fair value are measured and classified in accordance with a three Level 1 Level 2 not Level 3 no The fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. For certain financial instruments, including cash and cash equivalents, short-term investments, accounts receivable, marketable securities, notes payable, and accounts payable, the carrying amounts approximate fair value. We do not We measure certain other instruments, including stock-based compensation awards settled in the stock also at fair value. The determination of fair value involves the use of appropriate valuation methods and relevant inputs into valuation models. j) Slot Machine Jackpots: If the casino is not No k) Gaming Facility Mandated Payment: Boothill Casino is contractually obligated to pay its proportionate share of certain expenses incurred by the Kansas Lottery Commission and the Kansas Racing and Gaming Commission, which amounted t o $2,224 and $1,968 April 30, 2023 2022 l) Advanced Payments and Billings in Excess of Costs Incurred: We receive advances, performance-based payments and progress payment from customers which may m) Earnings Per Share: Earnings per common share is based on the weighted average number of common shares outstanding during the year. The computation of the Company basic and diluted earnings per common share is as follows: (in thousands, except share and per share data) 2023 2022 Net income attributable to Butler National Corporation $ 4,516 $ 10,368 Weighted average common shares outstanding 76,456,631 75,340,131 Dilutive effect of non-qualified stock option plans - - Weighted average common shares outstanding, assuming dilution 76,456,631 75,340,131 Potential common shares if all options were exercised and shares issued 76,456,631 75,340,131 Basic earnings per common share $ 0.06 $ 0.14 Diluted earnings per common share $ 0.06 $ 0.14 n) Stock-based Compensation: The Company accounts for stock-based compensation under ASC 718, Accounting for Stock-Based Compensation o) Income Taxes: The Company utilizes ASC 740, not p) Cash and Cash Equivalents: Cash and cash equivalents consist primarily of cash and investments in a money market fund. We consider all highly liquid investments with an original maturity of three may April 30, 2023 2022 q) Concentration of Credit Risk: We extend credit to customers based on an evaluation of their financial condition and collateral is not r) Research and Development: We invested in research and development activities. The amount invested in the year ended April 30, 2023 2022 s) Reclassifications: Certain reclassifications within the financial statement captions have been made to maintain consistency in presentation between years. These reclassifications have no |
Note 2 - Disaggregation of Reve
Note 2 - Disaggregation of Revenue | 12 Months Ended |
Apr. 30, 2023 | |
Notes to Financial Statements | |
Disaggregation of Revenue [Text Block] | 2. DISAGGREGATION OF REVENUE: In the following table, revenue is disaggregated by primary geographical market, major product line, and timing of revenue recognition. Year Ended April 30, 2023 Professional Services Aerospace Products Total Geographical Markets North America $ 38,041 $ 30,503 $ 68,544 Europe - 1,095 1,095 Middle East - 4,614 4,614 Asia and Other - 929 929 $ 38,041 $ 37,141 $ 75,182 Major Product Lines Casino Gaming Revenue $ 30,564 $ - $ 30,564 Sportsbook Revenue 2,738 - 2,738 Casino Non-Gaming Revenue 4,456 - 4,456 Professional Services 283 - 283 Aircraft Modification - 24,016 24,016 Aircraft Avionics - 2,324 2,324 Special Mission Electronics - 10,801 10,801 $ 38,041 $ 37,141 $ 75,182 Contract Types / Revenue Recognition Timing Percentage of completion contracts $ - $ 22,500 $ 22,500 Goods or services transferred at a point of sale 38,041 14,641 52,682 $ 38,041 $ 37,141 $ 75,182 Year Ended April 30, 2022 Professional Services Aerospace Products Total Geographical Markets North America $ 37,191 $ 29,258 $ 66,449 Europe - 2,803 2,803 Middle East - 934 934 Asia and Other - 1,331 1,331 $ 37,191 $ 34,326 $ 71,517 Major Product Lines Casino Gaming Revenue $ 32,455 $ - $ 32,455 Sportsbook Revenue - - - Casino Non-Gaming Revenue 4,358 - 4,358 Professional Services 378 - 378 Aircraft Modification - 21,399 21,399 Aircraft Avionics - 2,373 2,373 Special Mission Electronics - 10,554 10,554 $ 37,191 $ 34,326 $ 71,517 Contract Types / Revenue Recognition Timing Percentage of completion contracts $ - $ 19,507 $ 19,507 Goods or services transferred at a point of sale 37,191 14,819 52,010 $ 37,191 $ 34,326 $ 71,517 |
Note 3 - Accounts Receivable, N
Note 3 - Accounts Receivable, Net, Contract Asset and Contract Liability | 12 Months Ended |
Apr. 30, 2023 | |
Notes to Financial Statements | |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Text Block] | 3. ACCOUNTS RECEIVABLE, NET, CONTRACT ASSET AND CONTRACT LIABILITY: Accounts Receivables, net, contract asset and contract liability were as follows (in thousands): 2023 2022 Accounts Receivable, net $ 3,793 $ 3,636 Contract Asset 1,893 1,470 Contract Liability 6,031 820 Accounts Receivables, net consist of $3,793 and $3,636 from customers as of April 30, 2023 April 30, 2022, April 30, 2023 2022 April 30, 2023 2022. 2023, 2023 not no 2023 2022. April 30, 2023 2024. 2023, 2023, April 30, 2022 2022, April 30, 2021, |
Note 4 - Inventory
Note 4 - Inventory | 12 Months Ended |
Apr. 30, 2023 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 4. INVENTORY Inventory is comprised of the following, net of the estimate for obsolete inventory of $275 at April 30, 2023 April 30, 2022. 2023 2022 Parts and raw material $ 5,704 $ 4,722 Work in process 3,194 4,080 Finished goods 49 70 Total Inventory, net of allowance $ 8,947 $ 8,872 |
Note 5 - Property, Plant, and E
Note 5 - Property, Plant, and Equipment | 12 Months Ended |
Apr. 30, 2023 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 5. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment is comprised of the following: 2023 2022 Construction in progress $ - $ 6,417 Land 4,751 4,751 Building and improvements 47,867 40,962 Aircraft 8,515 8,719 Machinery and equipment 5,547 4,917 Office furniture and fixtures 13,881 11,826 Leasehold improvements 4,032 4,032 84,593 81,624 Accumulated depreciation (25,526 ) (22,778 ) Total property, plant and equipment $ 59,067 $ 58,846 |
Note 6 - Debt
Note 6 - Debt | 12 Months Ended |
Apr. 30, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 6. DEBT: Principal amounts of debt at April 30, 2023 2022 Promissory Notes 2023 2022 Bank line of credit, available LOC $2.0 million interest at 8.4% due on demand, secured by a first and second position on all assets of the Company. - - $ - $ - Long-Term Debt Note payable, interest at 6.25 $ - $ 534 Note payable, interest at 6.25 158 181 Note payable, interest at Secured Overnight Financing Rate (SOFR) plus 1.75 March 2029 652 946 1,106 Note payable, interest at Secured Overnight Financing Rate (SOFR) plus 1.75 March 2029 702 434 507 Note payable, interest at 5.32 December 2027 19,250 30,916 32,667 Note payable, interest at 5.75 October 2026 10,173 12,721 Note payable, interest at 4.35 March 2029 358 1,046 1,197 Note payable, interest at 8.13 October 2025 41 44 52 43,717 48,965 Less: Origination fees 312 389 43,405 48,576 Less: Current maturities 4,987 5,165 $ 38,418 $ 43,411 Maturities of long-term debt are as follows: Year Ending April 30 Amount 2024 $ 5,008 2025 5,021 2026 5,201 2027 3,754 2028 2,172 Thereafter 22,561 $ 43,717 Financial and Other Covenants We are compliant with the covenants and obligations of each of our notes at April 30, 2023 |
Note 7 - Lease Right-to-use
Note 7 - Lease Right-to-use | 12 Months Ended |
Apr. 30, 2023 | |
Notes to Financial Statements | |
Lessee, Finance Leases [Text Block] | 7. LEASE RIGHT-TO-USE: The Company accounts for its leases under ASU 2016 02 842. 2016 02 We lease the casino as well as hangar and office space with initial lease terms of two five fifty April 30, 2023 April 30, 2022 Finance lease right-to-use assets $ 3,781 $ 3,240 Less accumulated depreciation 700 512 Total $ 3,081 $ 2,728 Future minimum lease payments for assets under capital leases at April 30, 2023 2024 $ 263 2025 139 2026 116 2027 118 2028 120 Thereafter 12,828 Total minimum lease payments 13,584 Less amount representing interest 10,109 Present value of net minimum lease payments 3,475 Less current maturities of finance lease liability 145 Finance lease liability, net of current maturities $ 3,330 April 30, 2023 April 30, 2022 Finance lease cost: Amortization of right-of-use assets $ 188 $ 181 Interest on lease liabilities 188 148 Total finance lease cost $ 376 $ 329 April 30, 2023 April 30, 2022 Weighted average remaining lease term - Financing leases 46 years 45 years Weighted average discount rate - Financing leases 5.8 % 5.0 % |
Note 8 - Purchase of Noncontrol
Note 8 - Purchase of Noncontrolling Interest | 12 Months Ended |
Apr. 30, 2023 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 8. PURCHASE OF NONCONTROLLING INTEREST: On October 18, 2021, 100% The closing was effected pursuant to a Sale and Purchase Agreement for Preferred Member Interest Units between Seller and BNSC (“Purchase Agreement”). BNSC and Seller agreed to utilize an effective date for the Transaction of August 1, 2021. The Transaction purchase price was paid by a combination of available cash and an $8.0 million borrowing on a commercial loan with Academy Bank, N.A. (“Academy Bank”). BHCMC executed a Loan Modification Agreement with Academy, dated October 18, 2021 ( December 22, 2020, 2020 April 30, 2023, five October 18, 2026. The following table summarizes the purchase price and accounting of the transaction: Purchase Price Summary: Secured notes payable, net of financing costs $ 7,914 Forgiven note receivable from seller 780 Cash paid 7,659 Total $ 16,353 Accounting Summary: Capital contributed in excess of par $ 6,119 Book basis of the noncontrolling interest in BHCMC, LLC 7,890 Deferred tax asset related to step up in basis 2,344 Total $ 16,353 |
Note 9 - Income Taxes
Note 9 - Income Taxes | 12 Months Ended |
Apr. 30, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 9. INCOME TAXES: Deferred taxes are determined based on the estimated future tax effects of differences between the financial statements and tax basis of assets and liabilities given the provision of the enacted tax laws. Significant components of the Company's deferred tax liabilities and assets as of April 30, 2023 2022 April 30, 2023 April 30, 2022 Deferred tax liabilities: Deferred compensation, restricted stock $ (166 ) $ (358 ) Total deferred tax liabilities (166 ) (358 ) Deferred tax assets: Depreciation and amortization 325 1,365 Research and development 738 - Accounts receivable allowance 55 55 Inventory and other allowances 74 65 Lease right-to-use 114 472 Compensation accruals 156 60 Jackpot reserves 177 111 Total deferred tax assets 1,639 2,128 Less valuation allowance - - Net deferred tax asset $ 1,473 $ 1,770 The reconciliation of the federal statutory income tax rate to the effective tax rate is as follows: April 30, 2023 April 30, 2022 Statutory federal income tax rate expense, net of noncontrolling interest 21.00 % 21.00 % State income tax, net of federal benefits 5.90 % 5.38 % Permanent tax 2.19 % -1.12 % Other 1.72 % -1.25 % 30.81 % 24.01 % Income tax expense: Deferred income tax $ 297 $ 174 Current income tax 1,714 3,102 Total income tax expense $ 2,011 $ 3,276 Current income tax expense of $1,714 and $3,102 are comprised of $1,238 and $2,279 in federal income tax and $476 and $823 in state income tax for the years ended April 30, 2023 2022 The Company believes that its income tax filing positions and deductions will be sustained on audit and does not The Company files income tax returns in the U.S. Federal jurisdiction and various state jurisdictions. The Company is no May 1, 2019 no |
Note 10 - Stockholders' Equity
Note 10 - Stockholders' Equity | 12 Months Ended |
Apr. 30, 2023 | |
Notes to Financial Statements | |
Equity [Text Block] | 10. STOCKHOLDERS' EQUITY: Common Stock Transactions During the year ended April 30, 2023 401 2016 During the year ended April 30, 2022 401 |
Note 11 - Stock Options and Inc
Note 11 - Stock Options and Incentive Plans | 12 Months Ended |
Apr. 30, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 11. STOCK OPTIONS AND INCENTIVE PLANS: In November 2016, 2016 may On April 12, 2019, April 11, 2024. March 17, 2020, March 16, 2025. five July 2022, No April 30, 2023, April 30, 2022, April 30, 2023, not For the year ended April 30, 2023 2022 Number of Shares Weighted Average Grant Date Fair Value Total shares issued 7,900,000 $ 0.42 Forfeited, in prior periods (50,000 ) $ 0.40 Forfeited during the year ended April 30, 2022 (50,000 ) $ 0.40 Forfeited during the year ended April 30, 2023 (875,000 ) $ 0.40 Total 6,925,000 $ 0.43 |
Note 12 - Stock Repurchase Prog
Note 12 - Stock Repurchase Program | 12 Months Ended |
Apr. 30, 2023 | |
Notes to Financial Statements | |
Treasury Stock [Text Block] | 12. STOCK REPURCHASE PROGRAM: The Board of Directors approved a stock purchase program authorizing the repurchase of up to $4,000 of its common stock. The program was established for the purpose of enabling Butler National Corporation (BNC) to flexibly repurchase its own shares in consideration of factors such as opportunities for strategic investment, BNC's financial condition and the price of its common stock as part of improving capital efficiency. The program is currently authorized through July 31, 2025. The table below provides information with respect to common stock purchases by the Company during the year ended April 30, 2023 Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs Program authorization $ 4,000 Shares purchased in prior periods 3,103,633 $ 0.38 3,103,633 $ 2,823 Quarter ended July 31, 2021 - $ - - $ 2,823 Quarter ended October 31, 2021 (a) 6,290 $ 0.62 6,290 $ 2,819 Quarter ended January 31, 2022 - $ - - $ 2,819 Quarter ended April 30, 2022 (a) 180,503 $ 0.91 180,503 $ 2,655 Quarter ended July 31, 2022 (a) 1,639 $ 0.84 1,639 $ 2,653 Quarter ended October 31, 2022 (a) 150 $ 0.70 150 $ 2,653 Quarter ended January 31, 2023 (a) 85,307 $ 0.68 85,307 $ 2,595 Quarter ended April 30, 2023 (a) 2,000 $ 0.68 2,000 $ 2,594 Total 3,379,522 $ 0.42 3,379,522 (a) These shares of common stock purchased were purchased through private transactions. |
Note 13 - Commitments and Conti
Note 13 - Commitments and Contingencies | 12 Months Ended |
Apr. 30, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 13. COMMITMENTS AND CONTINGENCIES Litigation: From time to time, we may not not of July 31, 2023, not |
Note 14 - Related-party Transac
Note 14 - Related-party Transactions | 12 Months Ended |
Apr. 30, 2023 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 14. RELATED-PARTY TRANSACTIONS: The Company paid consulting fees of $135 and $135 to David Hayden, a director of Butler National Corporation in fiscal year ended April 30, 2023 2022 respectively. The Company paid Edgar Law Firm, LLC, owned by John M. Edgar, a director of Butler National Corporation $113 and $214 in fiscal year ended April 30, 2023 2022 respectively. Included in accrued liabilities are $244 and $482 as of April 30, 2023 2022 , respectively, for amounts owed to Clark D. Stewart, former director and CEO, for accrued compensation. In fiscal 2023 , there were three 2023 and $292, $484 and $247, respectively, for fiscal 2022 . The policies and procedures for payment of goods and services for related transactions follow our normal course of business standards and require the necessary review and approval process as outlined in our Policies and Procedures manual and as set forth by our Compensation Committee. |
Note 15 - 401(k) Profit Sharing
Note 15 - 401(k) Profit Sharing Plan | 12 Months Ended |
Apr. 30, 2023 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | 15. 401 PROFIT SHARING PLAN: We have a defined contribution plan authorized under Section 401 thirty may 2023 2022 |
Note 16 - Segment Reporting and
Note 16 - Segment Reporting and Sales by Major Customer | 12 Months Ended |
Apr. 30, 2023 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 16. SEGMENT REPORTING AND SALES BY MAJOR CUSTOMER: Industry Segmentation Current Activities: Aerospace Products Aircraft Modifications principally includes the modification of customer and company owned business-size aircraft from passenger to freighter configuration, radar systems, addition of aerial photography capabilities, ISR modifications, and stability enhancing modifications for Learjet, Beechcraft, Cessna, and Dassault Falcon aircraft along with other specialized modifications. We provide these services through our subsidiary, Avcon Industries, Inc. ("Aircraft Modifications" or "Avcon"). Special mission electronics principally includes the manufacture, sale, and service of electronics for weapon control systems used on government aircraft and vehicles. We provide the products through our subsidiary, Butler National Corporation - Tempe, Arizona. Butler Avionics sells, installs and repairs aircraft avionics equipment (airplane radio equipment and flight control systems). These systems are flight display systems which include intuitive touchscreen controls with large display to give users unprecedented access to high-resolution terrain mapping, graphical flight planning, geo-referenced charting, traffic display, satellite weather and much more. Butler Avionics is also recognized nationwide for its troubleshooting and repair work particularly on autopilot systems. Professional Services Butler National Service Corporation ("BNSC") provides management services to the Boot Hill Casino, a "state-owned casino". BCS Design, Inc. provides licensed architectural services. These services include commercial and industrial building design. Year Ended April 30, 2023 Gaming Aircraft Modification Aircraft Avionics Special Mission Electronics Other Total Revenues from customers $ 37,758 $ 24,016 $ 2,324 $ 10,801 $ 283 $ 75,182 Interest expense 2,419 251 - 47 26 2,743 Depreciation and amortization 2,742 2,718 11 145 282 5,898 Year Ended April 30, 2022 Gaming Aircraft Modification Aircraft Avionics Special Mission Electronics Other Total Revenues from customers $ 36,813 $ 21,399 $ 2,373 $ 10,554 $ 378 $ 71,517 Interest expense 2,440 215 - 23 11 2,689 Depreciation and amortization 2,454 2,384 5 161 277 5,281 Our Chief Operating Decision Maker (CODM) does not Major Customers: 10 2023 2022 Aerospace Products – one customer in 2023, two customers in 2022 14.3 % 25.7 % Professional Services - - In fiscal 2023 14.3 four April 30, 2023 one |
Note 17 - Subsequent Events
Note 17 - Subsequent Events | 12 Months Ended |
Apr. 30, 2023 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 17 . SUBSEQUENT EVENTS Subsequent to year end, the Company sold three two On May 9, 2023, On July 11, 2023, Clark D. Stewart and Craig D. Stewart tendered resignations as members of the board of the directors (the “Board”) of Butler National Corporation on July 20, 2023, July 28, 2023. seven five Clark D. Stewart and Craig D. Stewart each entered into a Separation and Mutual Release Agreement with the Company, each of the other directors, and with the Company’s executive officers dated July 20, 2023. On July 20, 2023, July 31, 2025. The Company evaluated its April 30, 2023 h July 31, 2023, not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Apr. 30, 2023 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | The accompanying consolidated financial statements include the accounts of Butler National Corporation (BNC) and its wholly-owned active subsidiaries, Avcon Industries, Inc., BCS Design, Inc., Butler National Service Corporation, Butler National Corporation-Tempe, Butler Avionics, Inc., Butler National, Inc., Butler Temporary Services, Inc., Kansas International Corporation, Kansas International DDC, LLC, and BHCMC, LLC (collectively, The Company). These consolidated financial statements and related notes are presented in accordance with generally accepted accounting principles in the United States (“GAAP”), expressed in U.S. dollars. All amounts are in thousands, except share and par values, unless otherwise noted. All significant intercompany balances and transactions have been eliminated in consolidation. The fiscal year end of the Company is April 30. Avcon Industries, Inc. modifies business category aircraft at its Newton, Kansas facility. Modifications can include passenger-to-freighter configuration, addition of aerial photography capability, ISR modifications, and stability enhancing modifications. Butler Avionics, Inc. sells, installs and repairs avionics equipment (airplane radio equipment and flight control systems). Butler National, Inc. acquires airplanes, principally Learjets, to refurbish and sell. Butler Temporary Services, Inc. processes company payroll. Kansas International Corporation and Kansas International DDC, LLC own property. Butler National Corporation-Tempe is primarily engaged in the manufacture of electronics for weapon control systems used by the military. Butler National Service Corporation is a management consulting and administrative services firm providing business planning and financial coordination to Indian tribes interested in owning and operating casinos under the terms of the Indian Gaming Regulatory Act of 1988. |
Accounts Receivable [Policy Text Block] | a) Accounts receivable: Accounts receivable are carried on a gross basis, with no not no |
Use of Estimates, Policy [Policy Text Block] | b) Use of Estimates: The preparation of financial statements in conformity with generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Future events and their effects cannot be determined with certainty. Therefore, the determination of estimates requires the exercise of judgment. Actual results could differ from those estimates, and any such differences may |
Inventory, Policy [Policy Text Block] | c) Inventories: Inventories are priced at the lower of cost, determined on a first first Inventory obsolescence is examined on a regular basis. When determining our estimate of obsolescence, we consider inventory that has been inactive for five |
Property, Plant and Equipment, Policy [Policy Text Block] | d) Property and Related Depreciation: Machinery and equipment are recorded at cost and depreciated over their estimated useful lives. Depreciation is provided on a straight-line basis. Description Estimated useful life Building and improvements 39 years or the shorter of the estimated useful life of the asset or the underlying lease term Aircraft 5 years Machinery and equipment 5 years Office furniture and fixtures 5 years Leasehold improvements Shorter of the estimated useful life of the asset or the underlying lease term Maintenance and repairs are charged to expense as incurred. The cost and accumulated depreciation of assets retired are removed from the accounts and any resulting gains or losses are reflected as income or expense. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | e) Long-Lived Assets: The Company accounts for its long-lived assets in accordance with ASC Topic 360 10, 360 10 may no |
Other Assets Policy [Policy Text Block] | f) Other Assets: Our other asset account includes assets of $5,500 related to the Kansas Expanded Lottery Act Management Contract privilege fee, $6,646 of gaming equipment we were required to pay for ownership by the State of Kansas Lottery, and JET autopilot intellectual property of $1,417, and miscellaneous other assets of $128. BHCMC expects the $5,500 December 2024. December 15, 2024, 2039, 15 three April 30, 2023 2022 Other assets net values are as follows: (dollars in thousands) 2023 2022 Privilege fee $ 5,500 $ 5,500 Less amortized costs 4,795 4,372 Privilege fee balance $ 705 $ 1,128 Intangible gaming equipment $ 6,646 $ 6,151 Less amortized costs 6,078 5,868 Intangible gaming equipment balance $ 568 $ 283 JET autopilot intellectual property $ 1,417 $ 1,417 Less amortized costs 1,417 1,335 JET autopilot intellectual property balance $ - $ 82 |
Supplemental Type Certificates [Policy Text Block] | g) Supplemental Type Certificates: Supplemental Type Certificates (STCs) are authorizations granted by the Federal Aviation Administration (FAA) for specific modification of a certain aircraft. The STC authorizes us to perform modifications, installations, and assemblies on applicable customer-owned aircraft. Costs incurred to obtain STCs are capitalized and subsequently amortized over seven April 30, 2023 2022 |
Revenue from Contract with Customer [Policy Text Block] | h) Revenue Recognition: ASC Topic 606, Under ASC 606, five 1 A contract with a customer exists when (i) the Company enters into an enforceable contract with a customer that defines each party’s rights regarding the services to be transferred and identifies the payment terms related to these services, (ii) the contract has commercial substance and (iii) the Company determines that collection of substantially all consideration for services that are transferred is probable based on the customer’s intent and ability to pay the promised consideration. 2 At contract inception, an entity shall assess the goods or services promised in a contract with a customer and shall identify as a performance obligation each promise to transfer to the customer. Performance obligations promised in a contract are identified based on the services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the service either on its own or together with other resources that are readily available from third not 3 The transaction price is the amount that an entity allocates to the performance obligations identified in the contract and, therefore, represents the amount of revenue recognized as those performance obligations are satisfied. The transaction price is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer. 4 Once a contract and associated performance obligations have been identified and the transaction price has been determined, ASC 606 5 Revenue is recognized when or as performance obligations are satisfied by transferring control of a promised good or service to a customer. Control transfers either over time or at a point in time. Revenue is recognized when control of the promised services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those services. Aircraft modifications are performed under fixed-price contracts unless modified with a change order. Significant payment terms are generally included in these contracts, requiring a 30% 50% one Revenue from Aircraft Avionics and Special Mission Electronics are recognized when shipped. Payment for these Avionics products is due within 30 days of the invoice date after shipment. Regarding warranties and returns, our products are special order and are not may not Gaming revenue is the gross gaming win as reported by the Kansas Lottery casino reporting systems, less the mandated payments by and for the State of Kansas. Electronic games-slots and table games revenue is the aggregate of gaming wins and losses. Liabilities are recognized for chips and "ticket-in, ticket-out" coupons in the customers' possession, and for accruals related to anticipated payout of progressive jackpots. Progressive gaming machines, which contain base jackpots that increase at a progressive rate based on the number of coins played, are deducted from revenue as the value of jackpots increase. Effective September 1, 2022, |
Fair Value Measurement, Policy [Policy Text Block] | i) Fair Value Measurements: Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or a liability. Assets and liabilities recorded at fair value are measured and classified in accordance with a three Level 1 Level 2 not Level 3 no The fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. For certain financial instruments, including cash and cash equivalents, short-term investments, accounts receivable, marketable securities, notes payable, and accounts payable, the carrying amounts approximate fair value. We do not We measure certain other instruments, including stock-based compensation awards settled in the stock also at fair value. The determination of fair value involves the use of appropriate valuation methods and relevant inputs into valuation models. |
Slot Machine Jackpots [Policy Text Block] | j) Slot Machine Jackpots: If the casino is not No |
Gaming Facility Mandated Payment [Policy Text Block] | k) Gaming Facility Mandated Payment: Boothill Casino is contractually obligated to pay its proportionate share of certain expenses incurred by the Kansas Lottery Commission and the Kansas Racing and Gaming Commission, which amounted t o $2,224 and $1,968 April 30, 2023 2022 |
Advanced Payments and Billings in Excess of Costs Incurred [Policy Text Block] | l) Advanced Payments and Billings in Excess of Costs Incurred: We receive advances, performance-based payments and progress payment from customers which may |
Earnings Per Share, Policy [Policy Text Block] | m) Earnings Per Share: Earnings per common share is based on the weighted average number of common shares outstanding during the year. The computation of the Company basic and diluted earnings per common share is as follows: (in thousands, except share and per share data) 2023 2022 Net income attributable to Butler National Corporation $ 4,516 $ 10,368 Weighted average common shares outstanding 76,456,631 75,340,131 Dilutive effect of non-qualified stock option plans - - Weighted average common shares outstanding, assuming dilution 76,456,631 75,340,131 Potential common shares if all options were exercised and shares issued 76,456,631 75,340,131 Basic earnings per common share $ 0.06 $ 0.14 Diluted earnings per common share $ 0.06 $ 0.14 |
Share-Based Payment Arrangement [Policy Text Block] | n) Stock-based Compensation: The Company accounts for stock-based compensation under ASC 718, Accounting for Stock-Based Compensation |
Income Tax, Policy [Policy Text Block] | o) Income Taxes: The Company utilizes ASC 740, not |
Cash and Cash Equivalents, Policy [Policy Text Block] | p) Cash and Cash Equivalents: Cash and cash equivalents consist primarily of cash and investments in a money market fund. We consider all highly liquid investments with an original maturity of three may April 30, 2023 2022 |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | q) Concentration of Credit Risk: We extend credit to customers based on an evaluation of their financial condition and collateral is not |
Research and Development Expense, Policy [Policy Text Block] | r) Research and Development: We invested in research and development activities. The amount invested in the year ended April 30, 2023 2022 |
Reclassification, Comparability Adjustment [Policy Text Block] | s) Reclassifications: Certain reclassifications within the financial statement captions have been made to maintain consistency in presentation between years. These reclassifications have no |
Note 1 - Nature of Operations_2
Note 1 - Nature of Operations, Organization and Significant Accounting Policies (Tables) | 12 Months Ended |
Apr. 30, 2023 | |
Notes Tables | |
Schedule of Useful Life of Property, Plant, and Equipment [Table Text Block] | Description Estimated useful life Building and improvements 39 years or the shorter of the estimated useful life of the asset or the underlying lease term Aircraft 5 years Machinery and equipment 5 years Office furniture and fixtures 5 years Leasehold improvements Shorter of the estimated useful life of the asset or the underlying lease term |
Schedule of Other Assets [Table Text Block] | (dollars in thousands) 2023 2022 Privilege fee $ 5,500 $ 5,500 Less amortized costs 4,795 4,372 Privilege fee balance $ 705 $ 1,128 Intangible gaming equipment $ 6,646 $ 6,151 Less amortized costs 6,078 5,868 Intangible gaming equipment balance $ 568 $ 283 JET autopilot intellectual property $ 1,417 $ 1,417 Less amortized costs 1,417 1,335 JET autopilot intellectual property balance $ - $ 82 |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | (in thousands, except share and per share data) 2023 2022 Net income attributable to Butler National Corporation $ 4,516 $ 10,368 Weighted average common shares outstanding 76,456,631 75,340,131 Dilutive effect of non-qualified stock option plans - - Weighted average common shares outstanding, assuming dilution 76,456,631 75,340,131 Potential common shares if all options were exercised and shares issued 76,456,631 75,340,131 Basic earnings per common share $ 0.06 $ 0.14 Diluted earnings per common share $ 0.06 $ 0.14 |
Note 2 - Disaggregation of Re_2
Note 2 - Disaggregation of Revenue (Tables) | 12 Months Ended |
Apr. 30, 2023 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Year Ended April 30, 2023 Professional Services Aerospace Products Total Geographical Markets North America $ 38,041 $ 30,503 $ 68,544 Europe - 1,095 1,095 Middle East - 4,614 4,614 Asia and Other - 929 929 $ 38,041 $ 37,141 $ 75,182 Major Product Lines Casino Gaming Revenue $ 30,564 $ - $ 30,564 Sportsbook Revenue 2,738 - 2,738 Casino Non-Gaming Revenue 4,456 - 4,456 Professional Services 283 - 283 Aircraft Modification - 24,016 24,016 Aircraft Avionics - 2,324 2,324 Special Mission Electronics - 10,801 10,801 $ 38,041 $ 37,141 $ 75,182 Contract Types / Revenue Recognition Timing Percentage of completion contracts $ - $ 22,500 $ 22,500 Goods or services transferred at a point of sale 38,041 14,641 52,682 $ 38,041 $ 37,141 $ 75,182 Year Ended April 30, 2022 Professional Services Aerospace Products Total Geographical Markets North America $ 37,191 $ 29,258 $ 66,449 Europe - 2,803 2,803 Middle East - 934 934 Asia and Other - 1,331 1,331 $ 37,191 $ 34,326 $ 71,517 Major Product Lines Casino Gaming Revenue $ 32,455 $ - $ 32,455 Sportsbook Revenue - - - Casino Non-Gaming Revenue 4,358 - 4,358 Professional Services 378 - 378 Aircraft Modification - 21,399 21,399 Aircraft Avionics - 2,373 2,373 Special Mission Electronics - 10,554 10,554 $ 37,191 $ 34,326 $ 71,517 Contract Types / Revenue Recognition Timing Percentage of completion contracts $ - $ 19,507 $ 19,507 Goods or services transferred at a point of sale 37,191 14,819 52,010 $ 37,191 $ 34,326 $ 71,517 |
Note 3 - Accounts Receivable,_2
Note 3 - Accounts Receivable, Net, Contract Asset and Contract Liability (Tables) | 12 Months Ended |
Apr. 30, 2023 | |
Notes Tables | |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | 2023 2022 Accounts Receivable, net $ 3,793 $ 3,636 Contract Asset 1,893 1,470 Contract Liability 6,031 820 |
Note 4 - Inventory (Tables)
Note 4 - Inventory (Tables) | 12 Months Ended |
Apr. 30, 2023 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | 2023 2022 Parts and raw material $ 5,704 $ 4,722 Work in process 3,194 4,080 Finished goods 49 70 Total Inventory, net of allowance $ 8,947 $ 8,872 |
Note 5 - Property, Plant, and_2
Note 5 - Property, Plant, and Equipment (Tables) | 12 Months Ended |
Apr. 30, 2023 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 2023 2022 Construction in progress $ - $ 6,417 Land 4,751 4,751 Building and improvements 47,867 40,962 Aircraft 8,515 8,719 Machinery and equipment 5,547 4,917 Office furniture and fixtures 13,881 11,826 Leasehold improvements 4,032 4,032 84,593 81,624 Accumulated depreciation (25,526 ) (22,778 ) Total property, plant and equipment $ 59,067 $ 58,846 |
Note 6 - Debt (Tables)
Note 6 - Debt (Tables) | 12 Months Ended |
Apr. 30, 2023 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | Promissory Notes 2023 2022 Bank line of credit, available LOC $2.0 million interest at 8.4% due on demand, secured by a first and second position on all assets of the Company. - - $ - $ - Long-Term Debt Note payable, interest at 6.25 $ - $ 534 Note payable, interest at 6.25 158 181 Note payable, interest at Secured Overnight Financing Rate (SOFR) plus 1.75 March 2029 652 946 1,106 Note payable, interest at Secured Overnight Financing Rate (SOFR) plus 1.75 March 2029 702 434 507 Note payable, interest at 5.32 December 2027 19,250 30,916 32,667 Note payable, interest at 5.75 October 2026 10,173 12,721 Note payable, interest at 4.35 March 2029 358 1,046 1,197 Note payable, interest at 8.13 October 2025 41 44 52 43,717 48,965 Less: Origination fees 312 389 43,405 48,576 Less: Current maturities 4,987 5,165 $ 38,418 $ 43,411 |
Schedule of Maturities of Long-Term Debt [Table Text Block] | Year Ending April 30 Amount 2024 $ 5,008 2025 5,021 2026 5,201 2027 3,754 2028 2,172 Thereafter 22,561 $ 43,717 |
Note 7 - Lease Right-to-use (Ta
Note 7 - Lease Right-to-use (Tables) | 12 Months Ended |
Apr. 30, 2023 | |
Notes Tables | |
Lessee, Finance Lease, Right of Use Assets [Table Text Block] | April 30, 2023 April 30, 2022 Finance lease right-to-use assets $ 3,781 $ 3,240 Less accumulated depreciation 700 512 Total $ 3,081 $ 2,728 |
Finance Lease, Liability, to be Paid, Maturity [Table Text Block] | 2024 $ 263 2025 139 2026 116 2027 118 2028 120 Thereafter 12,828 Total minimum lease payments 13,584 Less amount representing interest 10,109 Present value of net minimum lease payments 3,475 Less current maturities of finance lease liability 145 Finance lease liability, net of current maturities $ 3,330 |
Lease, Cost [Table Text Block] | April 30, 2023 April 30, 2022 Finance lease cost: Amortization of right-of-use assets $ 188 $ 181 Interest on lease liabilities 188 148 Total finance lease cost $ 376 $ 329 April 30, 2023 April 30, 2022 Weighted average remaining lease term - Financing leases 46 years 45 years Weighted average discount rate - Financing leases 5.8 % 5.0 % |
Note 8 - Purchase of Noncontr_2
Note 8 - Purchase of Noncontrolling Interest (Tables) | 12 Months Ended |
Apr. 30, 2023 | |
Notes Tables | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | Purchase Price Summary: Secured notes payable, net of financing costs $ 7,914 Forgiven note receivable from seller 780 Cash paid 7,659 Total $ 16,353 Accounting Summary: Capital contributed in excess of par $ 6,119 Book basis of the noncontrolling interest in BHCMC, LLC 7,890 Deferred tax asset related to step up in basis 2,344 Total $ 16,353 |
Note 9 - Income Taxes (Tables)
Note 9 - Income Taxes (Tables) | 12 Months Ended |
Apr. 30, 2023 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | April 30, 2023 April 30, 2022 Deferred tax liabilities: Deferred compensation, restricted stock $ (166 ) $ (358 ) Total deferred tax liabilities (166 ) (358 ) Deferred tax assets: Depreciation and amortization 325 1,365 Research and development 738 - Accounts receivable allowance 55 55 Inventory and other allowances 74 65 Lease right-to-use 114 472 Compensation accruals 156 60 Jackpot reserves 177 111 Total deferred tax assets 1,639 2,128 Less valuation allowance - - Net deferred tax asset $ 1,473 $ 1,770 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | April 30, 2023 April 30, 2022 Statutory federal income tax rate expense, net of noncontrolling interest 21.00 % 21.00 % State income tax, net of federal benefits 5.90 % 5.38 % Permanent tax 2.19 % -1.12 % Other 1.72 % -1.25 % 30.81 % 24.01 % Income tax expense: Deferred income tax $ 297 $ 174 Current income tax 1,714 3,102 Total income tax expense $ 2,011 $ 3,276 |
Note 11 - Stock Options and I_2
Note 11 - Stock Options and Incentive Plans (Tables) | 12 Months Ended |
Apr. 30, 2023 | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Number of Shares Weighted Average Grant Date Fair Value Total shares issued 7,900,000 $ 0.42 Forfeited, in prior periods (50,000 ) $ 0.40 Forfeited during the year ended April 30, 2022 (50,000 ) $ 0.40 Forfeited during the year ended April 30, 2023 (875,000 ) $ 0.40 Total 6,925,000 $ 0.43 |
Note 12 - Stock Repurchase Pr_2
Note 12 - Stock Repurchase Program (Tables) | 12 Months Ended |
Apr. 30, 2023 | |
Notes Tables | |
Class of Treasury Stock [Table Text Block] | Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs Program authorization $ 4,000 Shares purchased in prior periods 3,103,633 $ 0.38 3,103,633 $ 2,823 Quarter ended July 31, 2021 - $ - - $ 2,823 Quarter ended October 31, 2021 (a) 6,290 $ 0.62 6,290 $ 2,819 Quarter ended January 31, 2022 - $ - - $ 2,819 Quarter ended April 30, 2022 (a) 180,503 $ 0.91 180,503 $ 2,655 Quarter ended July 31, 2022 (a) 1,639 $ 0.84 1,639 $ 2,653 Quarter ended October 31, 2022 (a) 150 $ 0.70 150 $ 2,653 Quarter ended January 31, 2023 (a) 85,307 $ 0.68 85,307 $ 2,595 Quarter ended April 30, 2023 (a) 2,000 $ 0.68 2,000 $ 2,594 Total 3,379,522 $ 0.42 3,379,522 |
Note 16 - Segment Reporting a_2
Note 16 - Segment Reporting and Sales by Major Customer (Tables) | 12 Months Ended |
Apr. 30, 2023 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Year Ended April 30, 2023 Gaming Aircraft Modification Aircraft Avionics Special Mission Electronics Other Total Revenues from customers $ 37,758 $ 24,016 $ 2,324 $ 10,801 $ 283 $ 75,182 Interest expense 2,419 251 - 47 26 2,743 Depreciation and amortization 2,742 2,718 11 145 282 5,898 Year Ended April 30, 2022 Gaming Aircraft Modification Aircraft Avionics Special Mission Electronics Other Total Revenues from customers $ 36,813 $ 21,399 $ 2,373 $ 10,554 $ 378 $ 71,517 Interest expense 2,440 215 - 23 11 2,689 Depreciation and amortization 2,454 2,384 5 161 277 5,281 |
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block] | 2023 2022 Aerospace Products – one customer in 2023, two customers in 2022 14.3 % 25.7 % Professional Services - - |
Note 1 - Nature of Operations_3
Note 1 - Nature of Operations, Organization and Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Apr. 30, 2023 | Apr. 30, 2022 | |
Duration after Which Invoices Are Considered to Be Doubtful (Day) | 90 days | |
Duration During Which Inventory If Inactive Taken as Obsolete (Year) | 5 years | |
Period for Payment Due (Day) | 30 days | |
Cash, Uninsured Amount | $ 17,021 | $ 7,835 |
Research and Development Expense | 3,034 | 2,352 |
Kansas Lottery Commission and the Kansas Racing and Gaming Commission [Member] | ||
Accrued Liabilities | 2,224 | 1,968 |
Kansas Expanded Lottery Act Management Contract Privilege Fee [Member] | ||
Finite-Lived Intangible Assets, Gross | 5,500 | 5,500 |
Gaming Equipment [Member] | ||
Finite-Lived Intangible Assets, Gross | $ 6,646 | 6,151 |
Finite-Lived Intangible Asset, Useful Life (Year) | 3 years | |
JET Autopilot Intellectual Property [Member] | ||
Finite-Lived Intangible Assets, Gross | $ 1,417 | 1,417 |
Other Miscellaneous Long-Term Assets [Member] | ||
Finite-Lived Intangible Assets, Gross | 128 | |
Amortization of Intangible Assets | $ 715 | 689 |
Supplemental Type Certificates [Member] | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 7 years | |
Amortization of Intangible Assets | $ 1,267 | $ 1,295 |
Note 1 - Nature of Operations_4
Note 1 - Nature of Operations, Organization and Significant Accounting Policies - Property and Related Depreciation (Details) | Apr. 30, 2023 |
Building and Building Improvements [Member] | |
Useful life (Year) | 39 years |
Aircraft [Member] | |
Useful life (Year) | 5 years |
Machinery and Equipment [Member] | |
Useful life (Year) | 5 years |
Furniture and Fixtures [Member] | |
Useful life (Year) | 5 years |
Note 1 - Nature of Operations_5
Note 1 - Nature of Operations, Organization and Significant Accounting Policies - Schedule of Other Assets (Details) - USD ($) $ in Thousands | Apr. 30, 2023 | Apr. 30, 2022 |
Kansas Expanded Lottery Act Management Contract Privilege Fee [Member] | ||
Other assets intangible | $ 5,500 | $ 5,500 |
Less amortized costs | 4,795 | 4,372 |
Other assets net intangible, net | 705 | 1,128 |
Gaming Equipment [Member] | ||
Other assets intangible | 6,646 | 6,151 |
Less amortized costs | 6,078 | 5,868 |
Other assets net intangible, net | 568 | 283 |
JET Autopilot Intellectual Property [Member] | ||
Other assets intangible | 1,417 | 1,417 |
Less amortized costs | 1,417 | 1,335 |
Other assets net intangible, net | $ 0 | $ 82 |
Note 1 - Nature of Operations_6
Note 1 - Nature of Operations, Organization and Significant Accounting Policies - Computation of Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Apr. 30, 2023 | Apr. 30, 2022 | |
Net income attributable to Butler National Corporation | $ 4,516 | $ 10,368 |
Weighted average common shares outstanding (in shares) | 76,456,631 | 75,340,131 |
Dilutive effect of non-qualified stock option plans (in shares) | 0 | 0 |
Weighted average common shares outstanding, assuming dilution (in shares) | 76,456,631 | 75,340,131 |
Potential common shares if all options were exercised and shares issued (in shares) | 76,456,631 | 75,340,131 |
Basic earnings per common share (in dollars per share) | $ 0.06 | $ 0.14 |
Diluted earnings per common share (in dollars per share) | $ 0.06 | $ 0.14 |
Note 2 - Disaggregation of Re_3
Note 2 - Disaggregation of Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Apr. 30, 2023 | Apr. 30, 2022 | |
Revenues | $ 75,182 | $ 71,517 |
Percentage of Completion Contracts [Member] | ||
Revenues | 22,500 | 19,507 |
Transferred at Point in Time [Member] | ||
Revenues | 52,682 | 52,010 |
Casino [Member] | ||
Revenues | 30,564 | 32,455 |
Sportsbook [Member] | ||
Revenues | 2,738 | 0 |
Casino Non-gaming [Member] | ||
Revenues | 4,456 | 4,358 |
Professional Services [Member] | ||
Revenues | 283 | 378 |
Aircraft Modification [Member] | ||
Revenues | 24,016 | 21,399 |
Aircraft Avionics [Member] | ||
Revenues | 2,324 | 2,373 |
Special Mission Electronics [Member] | ||
Revenues | 10,801 | 10,554 |
Professional Services Segment [Member] | ||
Revenues | 38,041 | 37,191 |
Professional Services Segment [Member] | Percentage of Completion Contracts [Member] | ||
Revenues | 0 | 0 |
Professional Services Segment [Member] | Transferred at Point in Time [Member] | ||
Revenues | 38,041 | 37,191 |
Professional Services Segment [Member] | Casino [Member] | ||
Revenues | 30,564 | 32,455 |
Professional Services Segment [Member] | Sportsbook [Member] | ||
Revenues | 2,738 | 0 |
Professional Services Segment [Member] | Casino Non-gaming [Member] | ||
Revenues | 4,456 | 4,358 |
Professional Services Segment [Member] | Professional Services [Member] | ||
Revenues | 283 | 378 |
Professional Services Segment [Member] | Aircraft Modification [Member] | ||
Revenues | 0 | 0 |
Professional Services Segment [Member] | Aircraft Avionics [Member] | ||
Revenues | 0 | 0 |
Professional Services Segment [Member] | Special Mission Electronics [Member] | ||
Revenues | 0 | 0 |
Aerospace Products [Member] | ||
Revenues | 37,141 | 34,326 |
Aerospace Products [Member] | Percentage of Completion Contracts [Member] | ||
Revenues | 22,500 | 19,507 |
Aerospace Products [Member] | Transferred at Point in Time [Member] | ||
Revenues | 14,641 | 14,819 |
Aerospace Products [Member] | Casino [Member] | ||
Revenues | 0 | 0 |
Aerospace Products [Member] | Sportsbook [Member] | ||
Revenues | 0 | 0 |
Aerospace Products [Member] | Casino Non-gaming [Member] | ||
Revenues | 0 | 0 |
Aerospace Products [Member] | Professional Services [Member] | ||
Revenues | 0 | 0 |
Aerospace Products [Member] | Aircraft Modification [Member] | ||
Revenues | 24,016 | 21,399 |
Aerospace Products [Member] | Aircraft Avionics [Member] | ||
Revenues | 2,324 | 2,373 |
Aerospace Products [Member] | Special Mission Electronics [Member] | ||
Revenues | 10,801 | 10,554 |
North America [Member] | ||
Revenues | 68,544 | 66,449 |
North America [Member] | Professional Services Segment [Member] | ||
Revenues | 38,041 | 37,191 |
North America [Member] | Aerospace Products [Member] | ||
Revenues | 30,503 | 29,258 |
Europe [Member] | ||
Revenues | 1,095 | 2,803 |
Europe [Member] | Professional Services Segment [Member] | ||
Revenues | 0 | 0 |
Europe [Member] | Aerospace Products [Member] | ||
Revenues | 1,095 | 2,803 |
Middle East [Member] | ||
Revenues | 4,614 | 934 |
Middle East [Member] | Professional Services Segment [Member] | ||
Revenues | 0 | 0 |
Middle East [Member] | Aerospace Products [Member] | ||
Revenues | 4,614 | 934 |
Asia [Member] | ||
Revenues | 929 | 1,331 |
Asia [Member] | Professional Services Segment [Member] | ||
Revenues | 0 | 0 |
Asia [Member] | Aerospace Products [Member] | ||
Revenues | $ 929 | $ 1,331 |
Note 3 - Accounts Receivable,_3
Note 3 - Accounts Receivable, Net, Contract Asset and Contract Liability (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Apr. 30, 2023 | Apr. 30, 2022 | |
Accounts Receivable, after Allowance for Credit Loss | $ 3,793 | $ 3,636 |
Accounts Receivable, Allowance for Credit Loss | 205 | 205 |
Contract with Customer, Asset, after Allowance for Credit Loss | 1,893 | 1,470 |
Increase (Decrease) in Contract with Customer, Asset | 423 | 1,049 |
Increase (Decrease) in Contract with Customer, Liability | 5,211 | (4,978) |
Contract with Customer, Liability, Revenue Recognized | $ 820 | $ 5,798 |
Note 3 - Accounts Receivable,_4
Note 3 - Accounts Receivable, Net, Contract Asset and Contract Liability - Accounts Receivable, Net, Contract Asset and Contract Liability (Details) - USD ($) $ in Thousands | Apr. 30, 2023 | Apr. 30, 2022 |
Accounts Receivable, net | $ 3,793 | $ 3,636 |
Contract Asset | 1,893 | 1,470 |
Contract Liability | $ 6,031 | $ 820 |
Note 4 - Inventory (Details Tex
Note 4 - Inventory (Details Textual) - USD ($) $ in Thousands | Apr. 30, 2023 | Apr. 30, 2022 |
Inventory Valuation Reserves | $ 275 | $ 240 |
Note 4 - Inventory - Schedule o
Note 4 - Inventory - Schedule of Inventory (Details) - USD ($) $ in Thousands | Apr. 30, 2023 | Apr. 30, 2022 |
Parts and raw material | $ 5,704 | $ 4,722 |
Work in process | 3,194 | 4,080 |
Finished goods | 49 | 70 |
Total Inventory, net of allowance | $ 8,947 | $ 8,872 |
Note 5 - Property, Plant, and_3
Note 5 - Property, Plant, and Equipment - Schedule of Property, Plant, and Equipment (Details) - USD ($) $ in Thousands | Apr. 30, 2023 | Apr. 30, 2022 |
Property, plant, and equipment, gross | $ 84,593 | $ 81,624 |
Accumulated depreciation | (25,526) | (22,778) |
Total property, plant and equipment | 59,067 | 58,846 |
Construction in Progress [Member] | ||
Property, plant, and equipment, gross | 0 | 6,417 |
Land [Member] | ||
Property, plant, and equipment, gross | 4,751 | 4,751 |
Building and Building Improvements [Member] | ||
Property, plant, and equipment, gross | 47,867 | 40,962 |
Aircraft [Member] | ||
Property, plant, and equipment, gross | 8,515 | 8,719 |
Machinery and Equipment [Member] | ||
Property, plant, and equipment, gross | 5,547 | 4,917 |
Furniture and Fixtures [Member] | ||
Property, plant, and equipment, gross | 13,881 | 11,826 |
Leasehold Improvements [Member] | ||
Property, plant, and equipment, gross | $ 4,032 | $ 4,032 |
Note 6 - Debt - Schedule of Deb
Note 6 - Debt - Schedule of Debt (Details) - USD ($) $ in Thousands | Apr. 30, 2023 | Apr. 30, 2022 |
Notes payable | $ 43,717 | $ 48,965 |
Less: Origination fees | 312 | 389 |
Long-Term Debt | 43,405 | 48,576 |
Less: Current maturities | 4,987 | 5,165 |
Long-Term Debt, Excluding Current Maturities | 38,418 | 43,411 |
Note Collateralized by Real Estate [Member] | ||
Notes payable | 158 | 181 |
Note Collateralized by Real Estate Due March 2029 [Member] | ||
Notes payable | 946 | 1,106 |
Note Two Collateralized by Real Estate Due March 2029 [Member] | ||
Notes payable | 434 | 507 |
Note Collateralized by Aircraft Security Agreement [Member] | ||
Notes payable | 1,046 | 1,197 |
Note Collateralized by Equipment Due October 2025 [Member] | ||
Notes payable | 44 | 52 |
Note Collateralized by Real Estate [Member] | ||
Bank line of credit, available LOC $2.0 million interest at 8.4% due on demand, secured by a first and second position on all assets of the Company. | 0 | 0 |
Long-Term Debt, Excluding Current Maturities | 38,418 | 43,411 |
Note Collateralized by Equipment Due April 2022 [Member] | Note Collateralized by Equipment Due April 2022 [Member] | ||
Notes payable | 0 | |
Notes Repaid In 2022 [Member] | Note Collateralized by Equipment Due April 2022 [Member] | ||
Notes payable | 534 | |
Notes Collateralized by BHCMC's Assets and Compensation Due under State Management Contract Due December 2027 [Member] | ||
Notes payable | 30,916 | 32,667 |
Note Collateralized By All Of BHCMC's Assets and Compensation due under the State Management Contract Due October 2026 [Member] | ||
Notes payable | $ 10,173 | $ 12,721 |
Note 6 - Debt - Schedule of D_2
Note 6 - Debt - Schedule of Debt (Details) (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | |
Apr. 30, 2023 | Apr. 30, 2022 | |
Notes Collateralized by BHCMC's Assets and Compensation Due under State Management Contract Due December 2027 [Member] | ||
Interest rate | 5.32% | 5.32% |
Maturity date | Dec. 31, 2027 | Dec. 31, 2027 |
Balloon payment | $ 19,250 | $ 19,250 |
Note Collateralized By All Of BHCMC's Assets and Compensation due under the State Management Contract Due October 2026 [Member] | ||
Interest rate | 5.75% | 5.75% |
Maturity date | Oct. 31, 2026 | Oct. 31, 2026 |
Note Collateralized by Equipment Due April 2022 [Member] | ||
Interest rate | 6.25% | 6.25% |
Note Collateralized by Real Estate [Member] | ||
Interest rate | 6.25% | 6.25% |
Note Collateralized by Real Estate Due March 2029 [Member] | ||
Maturity date | Mar. 31, 2029 | Mar. 31, 2029 |
Balloon payment | $ 652 | $ 652 |
Note Collateralized by Real Estate Due March 2029 [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | ||
Basis spread | 1.75% | 1.75% |
Note Two Collateralized by Real Estate Due March 2029 [Member] | ||
Maturity date | Mar. 31, 2029 | Mar. 31, 2029 |
Balloon payment | $ 702 | $ 702 |
Note Two Collateralized by Real Estate Due March 2029 [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | ||
Basis spread | 1.75% | 1.75% |
Note Collateralized by Aircraft Security Agreement [Member] | ||
Interest rate | 4.35% | 4.35% |
Maturity date | Mar. 31, 2029 | Mar. 31, 2029 |
Balloon payment | $ 358 | $ 358 |
Note Collateralized by Equipment Due October 2025 [Member] | ||
Interest rate | 8.13% | 8.13% |
Maturity date | Oct. 31, 2025 | Oct. 31, 2025 |
Balloon payment | $ 41 | $ 41 |
Note 6 - Debt - Maturities of L
Note 6 - Debt - Maturities of Long-term Debt (Details) - USD ($) $ in Thousands | Apr. 30, 2023 | Apr. 30, 2022 |
2024 | $ 5,008 | |
2025 | 5,021 | |
2026 | 5,201 | |
2027 | 3,754 | |
2028 | 2,172 | |
Thereafter | 22,561 | |
Long-Term Debt, Gross | $ 43,717 | $ 48,965 |
Note 7 - Lease Right-to-use (De
Note 7 - Lease Right-to-use (Details Textual) | Apr. 30, 2023 |
Casino, Hangar, and Office Space, Three [Member] | |
Lessee, Finance Lease, Term of Contract (Year) | 50 years |
Casino, Hangar, and Office Space, One [Member] | |
Lessee, Finance Lease, Term of Contract (Year) | 2 years |
Casino, Hangar, and Office Space, Two [Member] | |
Lessee, Finance Lease, Term of Contract (Year) | 5 years |
Note 7 - Lease Right-to-use - F
Note 7 - Lease Right-to-use - Finance Lease Right-of-use Assets (Details) - USD ($) $ in Thousands | Apr. 30, 2023 | Apr. 30, 2022 |
Finance lease right-to-use assets | $ 3,781 | $ 3,240 |
Less accumulated depreciation | 700 | 512 |
Total | $ 3,081 | $ 2,728 |
Note 7 - Lease Right-to-use -_2
Note 7 - Lease Right-to-use - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands | Apr. 30, 2023 | Apr. 30, 2022 |
2024, Finance Lease | $ 263 | |
2025, Finance Lease | 139 | |
2026, Finance Lease | 116 | |
2027, Finance Lease | 118 | |
2028, Finance Lease | 120 | |
Thereafter, Finance Lease | 12,828 | |
Total minimum lease payments, Finance Lease | 13,584 | |
Less amount representing interest | 10,109 | |
Present value of net minimum lease payments | 3,475 | |
Less current maturities of finance lease liability | 145 | $ 106 |
Finance lease liability, net of current maturities | $ 3,330 | $ 2,899 |
Note 7 - Lease Right-to-use - L
Note 7 - Lease Right-to-use - Lease Cost (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Apr. 30, 2023 | Apr. 30, 2022 | |
Amortization of right-of-use assets | $ 188 | $ 181 |
Interest on lease liabilities | 188 | 148 |
Total finance lease cost | $ 376 | $ 329 |
Weighted average remaining lease term - Financing leases (Year) | 46 years | 45 years |
Weighted average discount rate - Financing leases | 5.80% | 5% |
Note 8 - Purchase of Noncontr_3
Note 8 - Purchase of Noncontrolling Interest (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |||
Oct. 18, 2021 | Dec. 31, 2020 | Apr. 30, 2023 | Apr. 30, 2022 | |
Long-Term Debt | $ 43,405 | $ 48,576 | ||
BNSC [Member] | Academy Bank, N.A. [Member] | Manager Loan [Member] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 5.75% | |||
BHCMC, LLC [Member] | BNSC [Member] | ||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, including Subsequent Acquisition, Percentage, Total | 100% | |||
Business Combination, Consideration Transferred, Total | $ 16,400 | |||
BHCMC, LLC [Member] | BNSC [Member] | Academy Bank, N.A. [Member] | Manager Loan [Member] | ||||
Business Combination, Consideration Transferred, Liabilities Incurred | 7,000 | $ 35,000 | ||
Long-Term Debt | $ 10,200 | |||
BHCMC, LLC [Member] | BNSC [Member] | Commercial Loan [Member] | Academy Bank, N.A. [Member] | ||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 8,000 |
Note 8 - Purchase of Noncontr_4
Note 8 - Purchase of Noncontrolling Interest - Purchase Price and Accounting of Transaction (Details) - BHCMC [Member] - BNSC [Member] $ in Thousands | Oct. 18, 2021 USD ($) |
Secured notes payable, net of financing costs | $ 7,914 |
Forgiven note receivable from seller | 780 |
Cash paid | 7,659 |
Business Combination, Consideration Transferred, Total | 16,353 |
Capital contributed in excess of par | 6,119 |
Book basis of the noncontrolling interest in BHCMC, LLC | 7,890 |
Deferred tax asset related to step up in basis | 2,344 |
Total | $ 16,353 |
Note 9 - Income Taxes (Details
Note 9 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Apr. 30, 2023 | Apr. 30, 2022 | |
Current Income Tax Expense (Benefit) | $ 1,714 | $ 3,102 |
Current Federal Tax Expense (Benefit) | 1,238 | 2,279 |
Current State and Local Tax Expense (Benefit) | 476 | $ 823 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | $ 0 |
Note 9 - Income Taxes - Compone
Note 9 - Income Taxes - Components of Deferred Tax Liabilities and Assets (Details) - USD ($) $ in Thousands | Apr. 30, 2023 | Apr. 30, 2022 |
Deferred tax liabilities: | ||
Deferred compensation, restricted stock | $ (166) | $ (358) |
Total deferred tax liabilities | (166) | (358) |
Deferred tax assets: | ||
Depreciation and amortization | (325) | (1,365) |
Research and development | 738 | 0 |
Accounts receivable allowance | 55 | 55 |
Inventory and other allowances | 74 | 65 |
Lease right-to-use | 114 | 472 |
Compensation accruals | 156 | 60 |
Jackpot reserves | 177 | 111 |
Total deferred tax assets | 1,639 | 2,128 |
Less valuation allowance | 0 | 0 |
Net deferred tax asset | $ 1,473 | $ 1,770 |
Note 9 - Income Taxes - Reconci
Note 9 - Income Taxes - Reconciliation of the Federal Statutory Income Tax Rate to the Effective Tax Rate (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Apr. 30, 2023 | Apr. 30, 2022 | |
Statutory federal income tax rate expense, net of noncontrolling interest | 21% | 21% |
State income tax, net of federal benefits | 5.90% | 5.38% |
Permanent tax | 2.19% | (1.12%) |
Other | 1.72% | (1.25%) |
Effective Income Tax Rate Reconciliation, Percent | 30.81% | 24.01% |
PROVISION FOR INCOME TAXES | ||
Deferred income tax expense | $ 297 | $ 174 |
Current Income Tax Expense (Benefit) | 1,714 | 3,102 |
Total income tax expense | $ 2,011 | $ 3,276 |
Note 10 - Stockholders' Equity
Note 10 - Stockholders' Equity (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |
Jun. 30, 2022 | Apr. 30, 2023 | Apr. 30, 2022 | |
Stock Issued During Period, Shares, Employee Benefit Plan (in shares) | 997,639 | 1,328,190 | |
Stock Issued During Period, Value, Employee Benefit Plan | $ 783 | $ 807 | |
Butler National Corporation 2016 Equity Incentive Plan [Member] | Director [Member] | |||
Stock Issued During Period, Value, Employee Benefit Plan | $ 352 | ||
Stock Issued During Period, Shares, Issued for Services (in shares) | 400,000 | 400,000 |
Note 11 - Stock Options and I_3
Note 11 - Stock Options and Incentive Plans (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 12 Months Ended | 25 Months Ended | ||||
Mar. 17, 2020 | Apr. 12, 2019 | Jun. 30, 2022 | Apr. 30, 2023 | Apr. 30, 2022 | Apr. 30, 2021 | Nov. 30, 2016 | |
Stock Issued During Period, Value, Issued for Services | $ 352 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeited in Period (in shares) | 875,000 | 50,000 | 50,000 | ||||
Share-Based Payment Arrangement, Expense | $ 357 | $ 585 | |||||
Butler National Corporation 2016 Equity Incentive Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 12,500,000 | ||||||
Stock Issued During Period, Value, Restricted Stock Award, Gross | $ 2,000 | $ 950 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | ||||||
Butler National Corporation 2016 Equity Incentive Plan [Member] | Director [Member] | |||||||
Stock Issued During Period, Shares, Issued for Services (in shares) | 400,000 | 400,000 | |||||
Shares Issued, Price Per Share (in dollars per share) | $ 0.88 | ||||||
Stock Issued During Period, Value, Issued for Services | $ 352 | ||||||
Butler National Corporation 2016 Equity Incentive Plan [Member] | Restricted Stock [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 5,000,000 | 2,500,000 | |||||
Share Price (in dollars per share) | $ 0.41 | $ 0.38 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 5 years | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeited in Period (in shares) | 875,000 | 50,000 | |||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 842 | ||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 6 months |
Note 11 - Stock Options and I_4
Note 11 - Stock Options and Incentive Plans - Restricted Stock Options Activity (Details) - $ / shares | 12 Months Ended | 25 Months Ended | |
Apr. 30, 2023 | Apr. 30, 2022 | Apr. 30, 2021 | |
Outstanding, shares (in shares) | 7,900,000 | ||
Outstanding, weighted average fair value (in dollars per share) | $ 0.42 | ||
Forfeited, shares (in shares) | (875,000) | (50,000) | (50,000) |
Forfeited, weighted average fair value (in dollars per share) | $ 0.40 | $ 0.40 | $ 0.40 |
Forfeited, shares (in shares) | (875,000) | (50,000) | (50,000) |
Outstanding, shares (in shares) | 6,925,000 | ||
Outstanding, weighted average fair value (in dollars per share) | $ 0.43 |
Note 12 - Stock Repurchase Pr_3
Note 12 - Stock Repurchase Program (Details Textual) $ in Millions | Apr. 30, 2023 USD ($) |
Stock Repurchase Program, Authorized Amount | $ 4 |
Note 12 - Stock Repurchase Pr_4
Note 12 - Stock Repurchase Program - Schedule of Stock Purchases (Details) - USD ($) | 3 Months Ended | 60 Months Ended | 84 Months Ended | |||||||||||||||||
Apr. 30, 2023 | Jan. 31, 2023 | Oct. 31, 2022 | Jul. 31, 2022 | [1] | Apr. 30, 2022 | [1] | Jan. 31, 2022 | [1] | Oct. 31, 2021 | [1] | Jul. 31, 2021 | [1] | Apr. 30, 2021 | Apr. 30, 2023 | Dec. 31, 2016 | |||||
Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plan or Programs | $ 2,594 | [1] | $ 2,595 | [1] | $ 2,653,000 | [1] | $ 2,653,000 | $ 2,655,000 | $ 2,819,000 | $ 2,819,000 | $ 2,823,000 | $ 2,823,000 | $ 2,594 | [1] | $ 4,000 | |||||
Number of Shares Purchased (in shares) | 2,000 | 85,307 | 150 | 1,639 | 180,503 | 0 | 6,290 | 0 | 3,103,633 | 3,379,522 | ||||||||||
Average Price Paid per Share (in dollars per share) | $ 0.68 | [1] | $ 0.68 | [1] | $ 0.70 | [1] | $ 0.84 | $ 0.91 | $ 0 | $ 0.62 | $ 0 | $ 0.38 | $ 0.42 | |||||||
Number of Shares Purchased as Part of Publicly Announced Plans or Programs (in shares) | 2,000 | [1] | 85,307 | [1] | 150 | [1] | 1,639 | 180,503 | 0 | 6,290 | 0 | 3,103,633 | 3,379,522 | |||||||
[1]These shares of common stock were purchased through a private transaction |
Note 14 - Related-party Trans_2
Note 14 - Related-party Transactions (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Apr. 30, 2023 | Apr. 30, 2022 | |
Director David Hayden [Member] | Consulting Fees [Member] | ||
Related Party Transaction, Amounts of Transaction | $ 135 | $ 135 |
Edgar Law Firm LLC [Member] | ||
Related Party Transaction, Amounts of Transaction | 113 | 214 |
Compensation Expense, Excluding Cost of Good and Service Sold | 331 | 484 |
Chief Executive Officer [Member] | ||
Accrued Liabilities, Current | 244 | 482 |
Wayne Stewart [Member] | ||
Compensation Expense, Excluding Cost of Good and Service Sold | 303 | 292 |
Jeff Shinkle [Member] | ||
Compensation Expense, Excluding Cost of Good and Service Sold | $ 254 | $ 247 |
Note 15 - 401(k) Profit Shari_2
Note 15 - 401(k) Profit Sharing Plan (Details Textual) $ in Thousands | 12 Months Ended | |
Apr. 30, 2023 USD ($) | Apr. 30, 2022 USD ($) | |
Number of Days of Service Eligible to Participate in Plan (Day) | 30 days | |
Number of Entry Dates per Calendar Year to Participate in Plan | 2 | |
Defined Contribution Plan Matching Contribution, as Percent of Every Pretax Dollar | 100% | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 6% | |
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage | 100% | |
Defined Contribution Plan, Cost | $ 783 | $ 807 |
Note 16 - Segment Reporting a_3
Note 16 - Segment Reporting and Sales by Major Customer (Details Textual) | 12 Months Ended |
Apr. 30, 2023 | |
Number of Operating Segments | 2 |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | The Five Aerospace Customers [Member] | |
Concentration Risk, Percentage | 33.30% |
Number of Major Customers | 5 |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Top Customer [Member] | |
Concentration Risk, Percentage | 14.30% |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Next Top Four Customers [Member] | Minimum [Member] | |
Concentration Risk, Percentage | 1.90% |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Next Top Four Customers [Member] | Maximum [Member] | |
Concentration Risk, Percentage | 8.30% |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer One [Member] | |
Concentration Risk, Percentage | 31.70% |
Number of Major Customers | 1 |
Note 16 - Segment Reporting a_4
Note 16 - Segment Reporting and Sales by Major Customer - Professional Services (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Apr. 30, 2023 | Apr. 30, 2022 | |
Revenues | $ 75,182 | $ 71,517 |
Interest expense | 2,743 | 2,689 |
Depreciation and amortization | 5,898 | 5,281 |
Gaming [Member] | ||
Revenues | 37,758 | 36,813 |
Interest expense | 2,419 | 2,440 |
Depreciation and amortization | 2,742 | 2,454 |
Aircraft Modification [Member] | ||
Revenues | 24,016 | 21,399 |
Interest expense | 251 | 215 |
Depreciation and amortization | 2,718 | 2,384 |
Aircraft Avionics [Member] | ||
Revenues | 2,324 | 2,373 |
Interest expense | 0 | 0 |
Depreciation and amortization | 11 | 5 |
Special Mission Electronics [Member] | ||
Revenues | 10,801 | 10,554 |
Interest expense | 47 | 23 |
Depreciation and amortization | 145 | 161 |
Product and Service, Other [Member] | ||
Revenues | 283 | 378 |
Interest expense | 26 | 11 |
Depreciation and amortization | $ 282 | $ 277 |
Note 16 - Segment Reporting a_5
Note 16 - Segment Reporting and Sales by Major Customer - Schedule of Revenue by Major Customers by Reporting Segments (Details) - Revenue Benchmark [Member] - Customer Concentration Risk [Member] | 12 Months Ended | |
Apr. 30, 2023 | Apr. 30, 2022 | |
Aerospace Products [Member] | ||
Aerospace Products – one customer in 2023, two customers in 2022 | 14.30% | 25.70% |
Professional Services [Member] | ||
Aerospace Products – one customer in 2023, two customers in 2022 | 0% | 0% |
Note 17 - Subsequent Events (De
Note 17 - Subsequent Events (Details Textual) - USD ($) | 2 Months Ended | 3 Months Ended | 12 Months Ended | 60 Months Ended | 84 Months Ended | |||||||||||||||||||||||
Jul. 20, 2023 | Jul. 15, 2023 | May 09, 2023 | Jul. 15, 2023 | Apr. 30, 2023 | Jan. 31, 2023 | Oct. 31, 2022 | Jul. 31, 2022 | [1] | Apr. 30, 2022 | [1] | Jan. 31, 2022 | [1] | Oct. 31, 2021 | [1] | Jul. 31, 2021 | [1] | Apr. 30, 2023 | Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2023 | Dec. 31, 2016 | |||||||
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | $ 410,000 | $ 75,000 | ||||||||||||||||||||||||||
Treasury Stock, Shares, Acquired (in shares) | 2,000 | 85,307 | 150 | 1,639 | 180,503 | 0 | 6,290 | 0 | 3,103,633 | 3,379,522 | ||||||||||||||||||
Shares Acquired, Average Cost Per Share (in dollars per share) | $ 0.68 | [1] | $ 0.68 | [1] | $ 0.70 | [1] | $ 0.84 | $ 0.91 | $ 0 | $ 0.62 | $ 0 | $ 0.38 | $ 0.42 | |||||||||||||||
Stock Repurchase Program, Authorized Amount | $ 4,000,000 | 4,000,000 | $ 4,000,000 | |||||||||||||||||||||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 2,594 | [1] | $ 2,595 | [1] | $ 2,653,000 | [1] | $ 2,653,000 | $ 2,655,000 | $ 2,819,000 | $ 2,819,000 | $ 2,823,000 | $ 2,594 | [1] | $ 2,655,000 | [1] | $ 2,823,000 | $ 2,594 | [1] | $ 4,000 | |||||||||
Subsequent Event [Member] | ||||||||||||||||||||||||||||
Stock Repurchase Program, Authorized Amount | $ 9,000,000 | |||||||||||||||||||||||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 2,600,000 | |||||||||||||||||||||||||||
Subsequent Event [Member] | Separation and Mutual Release Agreement [Member] | ||||||||||||||||||||||||||||
Shares Acquired, Average Cost Per Share (in dollars per share) | $ 0.739 | |||||||||||||||||||||||||||
Subsequent Event [Member] | Brother of Former CEO [Member] | ||||||||||||||||||||||||||||
Treasury Stock, Shares, Acquired (in shares) | 974,120 | |||||||||||||||||||||||||||
Shares Acquired, Average Cost Per Share (in dollars per share) | $ 0.70 | |||||||||||||||||||||||||||
Subsequent Event [Member] | Brother of Former CEO [Member] | Separation and Mutual Release Agreement [Member] | ||||||||||||||||||||||||||||
Treasury Stock, Shares, Acquired (in shares) | 3,956,267 | |||||||||||||||||||||||||||
Severance Costs | $ 2,700,000 | |||||||||||||||||||||||||||
Subsequent Event [Member] | Craig Stewart [Member] | Separation and Mutual Release Agreement [Member] | ||||||||||||||||||||||||||||
Treasury Stock, Shares, Acquired (in shares) | 1,933,402 | |||||||||||||||||||||||||||
Severance Costs | $ 1,800,000 | |||||||||||||||||||||||||||
Subsequent Event [Member] | Director [Member] | ||||||||||||||||||||||||||||
Shares Granted, Shares, Share-based Payment Arrangement, Forfeited (in shares) | 1,100,000 | |||||||||||||||||||||||||||
Subsequent Event [Member] | Aircraft [Member] | ||||||||||||||||||||||||||||
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | $ 440,000 | |||||||||||||||||||||||||||
[1]These shares of common stock were purchased through a private transaction |