{"id":28668,"date":"2026-07-01T00:35:00","date_gmt":"2026-06-30T22:35:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=144ffecc2e44921891d838eb1e7cc0dd"},"modified":"2026-07-01T00:35:00","modified_gmt":"2026-06-30T22:35:00","slug":"tel-instrument-electronics-corp-reports-financial-results-for-fiscal-year-2025","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=28668","title":{"rendered":"Tel-Instrument Electronics Corp. Reports Financial Results For Fiscal Year 2025"},"content":{"rendered":"<p>EAST RUTHERFORD, N.J.--(BUSINESS WIRE)--Tel-Instrument Electronics Corp. (\u201cTel-Instrument,\u201d \u201cTIC,\u201d or the \u201cCompany\u201d) (OTCQB: TIKK), a leading designer and manufacturer of avionics test and measurement solutions, today reported a net loss of $4.9M on revenues of $9.3M for the 2025 fiscal year ended March 31, 2025.<\/p><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260630945534\/en\/480761\/5\/Tel-ins_small.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260630945534\/en\/480761\/5\/Tel-ins_small.jpg\" \/><\/a><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260630945534\/en\/480761\/5\/Tel-ins_small.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260630945534\/en\/480761\/21\/Tel-ins_small.jpg\" \/><\/a><p>\n<b>Summary of Results:<\/b><\/p><ul class=\"bwlistdisc\">\n<li>\nRevenues for the fiscal year ended March 31, 2025, increased to $9.3M, or 6%, versus the prior fiscal year.<\/li>\n<li>\nGross margin for the 2025 fiscal year was 22%, or 24 percentage points decrease over the prior fiscal year.<\/li>\n<li>\nOperating expenses increased by $1.1M, or 33% year-over-year, due to the absence of client funded engineering projects.<\/li>\n<li>\nOperating loss was $2.3M as compared to an operating income of $737K in the prior fiscal year.<\/li>\n<li>\nTax Loss Carryforward reversal led to a Net loss of $4.9M.<\/li>\n<\/ul><p>\nMr. Jeffrey O\u2019Hara, Tel-Instrument\u2019s President and CEO commented, \u201cFY 2025 was a difficult year for the Company as our main CRAFT test set went obsolete which severely impacted sales revenues. Moreover, the cost of finishing the engineering for the CRAFT ECP significantly exceeded budgeted levels. The reversal of prior accruals contributed to the gross margin decline. We had expected CRAFT shipments and Navy ECP units to start shipping in early FY 2026, but this was also delayed due to extensive Navy platform testing. TIC did commence CRAFT shipments in late FY 2026, but no Navy ECP units were delivered. FY 2026 revenues increased to $10.4M, and the operating loss declined substantially. TIC is projecting extremely strong revenue growth and profitability starting in the second quarter of the current fiscal year. Cash remains very tight, but we expect this to improve materially as we begin Navy KIT production next month. Since we are a year behind in reporting, the following are notable items.<\/p><ul class=\"bwlistdisc\">\n<li>\nCurrent sales backlog is $11M, $3.5M of this is Navy KIT production out of a $20M expected contract.<\/li>\n<li>\nNavy full-rate ECP KIT production will be starting in July 2026. This is expected to increase annual revenues by $5M.<\/li>\n<li>\nStrong sales of new CRAFT 708A test sets with $2.6M of backlog and $3M of orders in the pipeline.<\/li>\n<li>\nVolume sales of SDR-OMNI and SDR-MIL to both commercial and military customers.<\/li>\n<li>\nWork continues on SDR-OMNI\/M5 which is targeted as the replacement for the 4,000 TS-4530A units currently fielded.<\/li>\n<li>\nCompleted fundraising in the amount of $866,500 preferred stock. I personally invested $166,500.<\/li>\n<\/ul><p>\nWe plan to catch up on our reporting as soon as possible. We appreciate the patience of our shareholder base and look forward to moving into a new phase of growth and profitability.\u201d<\/p><p>\n<b><span class=\"bwuline\">About Tel-Instrument Electronics Corp.<\/span><\/b><\/p><p>\nTel-Instrument is a leading designer and manufacturer of avionics test and measurement solutions for the global commercial air transport, general aviation, and government\/military aerospace and defense markets. Tel-Instrument provides instruments to test, measure, calibrate, and repair a wide range of airborne navigation and communication equipment. For further information please visit our website at <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.telinstrument.com&amp;esheet=54563042&amp;newsitemid=20260630945534&amp;lan=en-US&amp;anchor=www.telinstrument.com&amp;index=1&amp;md5=94189e1e52cb2fd9b447c9cb9e34fae8\" rel=\"nofollow\" shape=\"rect\">www.telinstrument.com<\/a>.<\/p><p>\n<i>This press release includes statements that are not historical in nature and may be characterized as \u201cforward-looking statements,\u201d including those related to future financial and operating results, benefits, and synergies of the combined companies, statements concerning the Company\u2019s outlook, pricing trends, and forces within the industry, the completion dates of capital projects, expected sales growth, cost reduction strategies, and their results, long-term goals of the Company and other statements of expectations, beliefs, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. All predictions as to future results contain a measure of uncertainty and, accordingly, actual results could differ materially. Among the factors which could cause a difference are: changes in the general economy; changes in demand for the Company\u2019s products or in the cost and availability of its raw materials; the actions of its competitors; the success of our customers; technological change; changes in employee relations; government regulations; litigation, including its inherent uncertainty; difficulties in plant operations and materials; transportation, environmental matters; and other unforeseen circumstances. A number of these factors are discussed in the Company\u2019s previous filings with the U.S. Securities and Exchange Commission. The Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 (the \u201cAct\u201d) protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.<\/i><\/p><p class=\"bwalignc\">\n<b>TEL-INSTRUMENT ELECTRONICS CORP.<\/b><\/p><p class=\"bwalignc\">\nConsolidated Balance Sheets<\/p><p class=\"bwalignr\">\n<i>Audited<\/i><\/p><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"2\"\/>\n<td class=\"bwpadl0\" colspan=\"2\" rowspan=\"1\"><p class=\"bwalignc bwcellpmargin\">\n<b>March 31,<\/b><\/p><\/td><td class=\"bwpadl0\" colspan=\"2\" rowspan=\"1\"><p class=\"bwalignc bwcellpmargin\">\n<b>March 31,<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc\" colspan=\"2\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignc\">\n<b>2025<\/b><\/p><\/td><td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc\" colspan=\"2\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignc\">\n<b>2024<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>ASSETS<\/b><\/p><\/td><td class=\"bwpadl0\" colspan=\"2\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0\" colspan=\"2\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Current assets:<\/b><\/p><\/td><td class=\"bwpadl0\" colspan=\"2\" rowspan=\"1\"\/>\n<td class=\"bwpadl0\" colspan=\"2\" rowspan=\"1\"\/>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nCash<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n$<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n121,587<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n$<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n132,013<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nAccounts receivable, net<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n645,346<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,110,548<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nInventories, net<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n4,027,236<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n5,411,644<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nPrepaid expenses and other current assets<\/p><\/td><td class=\"bwsinglebottom bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n158,689<\/p><\/td><td class=\"bwsinglebottom bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n214,161<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total current assets<\/b><\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n4,952,858<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n6,868,366<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nEquipment and leasehold improvements, net<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n42,108<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n73,195<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOperating lease right-of-use assets<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,114,352<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,324,463<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nDeferred tax asset, net<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2,450,657<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOther assets<\/p><\/td><td class=\"bwsinglebottom bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n35,109<\/p><\/td><td class=\"bwsinglebottom bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n35,109<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total assets<\/b><\/p><\/td><td class=\"bwdoublebottom bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n$<\/p><\/td><td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n6,144,427<\/p><\/td><td class=\"bwdoublebottom bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n$<\/p><\/td><td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n10,751,790<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>LIABILITIES AND STOCKHOLDERS\u2019 EQUITY<\/b><\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Current liabilities:<\/b><\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nLine of credit<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n$<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,000,000<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n$<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n690,000<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nPromissory Notes \u2013 Related Parties<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n120,500<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOperating lease liabilities - current portion<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n229,624<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n210,111<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nAccounts payable \u2013 Accounts payable, related party of $102,710 and $140,511, respectively<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n790,553<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,276,935<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nDeferred revenues - current portion<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n443,659<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n72,803<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nAccrued expenses - vacation pay, payroll and payroll withholdings<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n288,304<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n248,713<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nAccrued expenses - other<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n238,792<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n120,027<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total current liabilities<\/b><\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n3,111,432<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2,618,589<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOperating lease liabilities \u2013 long-term<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n884,728<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,114,352<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOther long term liabilities<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n37,589<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n45,501<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nDeferred revenues \u2013 long-term<\/p><\/td><td class=\"bwsinglebottom bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n122,917<\/p><\/td><td class=\"bwsinglebottom bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n119,721<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total liabilities<\/b><\/p><\/td><td class=\"bwsinglebottom bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n4,156,666<\/p><\/td><td class=\"bwsinglebottom bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n3,898,163<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Commitments and contingencies (Note 20)<\/b><\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Stockholders\u2019 equity<\/b><\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nPreferred stock, 1,000,000 shares authorized, par value $0.10 per share<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nPreferred stock, 500,000 shares 8% Cumulative Series A Convertible Preferred authorized, issued and outstanding, respectively par value $0.10 per share<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n4,355,998<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n4,115,998<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nPreferred stock, 320,000 shares 8% Cumulative Series B Convertible Preferred authorized; 233,334 and 233,334 issued and outstanding, respectively par value $0.10 per share<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,816,701<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,704,701<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nPreferred stock, 166,667 shares 8% Cumulative Series C Convertible Preferred authorized; 53,500 and 53,500 issued, and outstanding, respectively, par value $0.10 per share<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n360,895<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n335,215<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nCommon stock, 7,000,000 shares authorized, par value $.10 per share, 3,255,887 and 3,255,887 shares issued and outstanding, respectively<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n325,586<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n325,586<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nAdditional paid-in capital<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n6,036,632<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n6,379,085<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nAccumulated deficit<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(10,908,051<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(6,006,958<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total stockholders\u2019 equity<\/b><\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,987,761<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n6,853,627<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth86\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total liabilities and stockholders\u2019 equity<\/b><\/p><\/td><td class=\"bwdoublebottom bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n$<\/p><\/td><td class=\"bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n6,144,427<\/p><\/td><td class=\"bwdoublebottom bwrowaltcolor0 bwpadl0 bwwidth1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n$<\/p><\/td><td class=\"bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth6\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n10,751,790<\/p><\/td><\/tr>\n<\/table><p class=\"bwalignc\">\n<b>TEL-INSTRUMENT ELECTRONICS CORP.<\/b><\/p><p class=\"bwalignc\">\nConsolidated Statements of Operations<\/p><p class=\"bwalignr\">\n<i>Audited<\/i><\/p><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0\" colspan=\"4\" rowspan=\"1\"><p class=\"bwalignc bwcellpmargin\">\n<b>For the years ended March 31,<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"\/>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc\" colspan=\"2\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignc\">\n<b>2025<\/b><\/p><\/td><td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc\" colspan=\"2\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignc\">\n<b>2024<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNet sales<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n$<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n9,296,392<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n$<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n8,809,087<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nCost of sales<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n7,293,677<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n4,791,734<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nGross margin<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2,002,715<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n4,017,353<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOperating expenses:<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nSelling, general and administrative<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2,292,000<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2,124,815<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nEngineering, research, and development<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2,056,977<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,155,750<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nTotal operating expenses<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n4,348,977<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n3,280,565<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n(Loss) income from operations<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(2,346,262<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n736,788<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOther income (expense):<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nInterest income<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n13<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n24,642<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nInterest expense<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(103,755<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(70,086<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nInterest expense \u2013 judgment<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(198,535<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOther income, net<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n318<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n27,025<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nTotal other expenses, net<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(103,424<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(216,954<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n(Loss) income before income taxes<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(2,449,686<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n519,834<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nIncome tax expense<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2,451,407<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n177,943<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNet (loss) income<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(4,901,093<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n341,891<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nPreferred dividends<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(377,680<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(351,549<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNet loss attributable to common shareholders<\/p><\/td><td class=\"bwdoublebottom bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n$<\/p><\/td><td class=\"bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(5,278,773<\/p><\/td><td class=\"bwdoublebottom bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n$<\/p><\/td><td class=\"bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(9,658<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nBasic and diluted loss per common share<\/p><\/td><td class=\"bwdoublebottom bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n$<\/p><\/td><td class=\"bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(1.62<\/p><\/td><td class=\"bwdoublebottom bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n$<\/p><\/td><td class=\"bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n(0.00<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nWeighted average number of shares outstanding<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwrowaltcolor0 bwpadl0 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl1 bwwidth65\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nBasic and diluted<\/p><\/td><td class=\"bwdoublebottom bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n$<\/p><\/td><td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth15\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n3,255,887<\/p><\/td><td class=\"bwdoublebottom bwpadl0 bwwidth3 bwalignr\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n$<\/p><\/td><td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n3,255,887<\/p><\/td><\/tr>\n<\/table><p>\n\u00a0<\/p><br\/> <b>Contacts<\/b> <br\/><p>\nPauline Romeo\n<br\/>Tel-Instrument Electronics Corp.\n<br\/>(201) 933-1600 (Ext 309)<\/p>","protected":false},"excerpt":{"rendered":"<p>EAST RUTHERFORD, N.J.&#8211;(BUSINESS WIRE)&#8211;Tel-Instrument Electronics Corp. (\u201cTel-Instrument,\u201d \u201cTIC,\u201d or the \u201cCompany\u201d) (OTCQB: TIKK), a leading designer and manufacturer of avionics test and measurement solutions, today reported a net loss of $4.9M on re&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-28668","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/28668","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28668"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/28668\/revisions"}],"predecessor-version":[{"id":28669,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/28668\/revisions\/28669"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28668"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28668"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28668"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}