SUBSEQUENT EVENT

3 Months Ended

Mar. 31, 2021

SUBSEQUENT EVENT

SUBSEQUENT EVENT

NOTE 11 – SUBSEQUENT EVENT

On May 13, 2021, the Company’s Florida Pneumatic subsidiary detected a ransomware attack on its information technology systems that caused data to be encrypted.  The threat actor is demanding a ransom payment for the release of a decryption key.  Florida Pneumatic promptly launched an investigation and notified law enforcement, and legal counsel, who in turn engaged independent third-party incident response professionals to assist in, among other areas, determining the extent of this cyber incident, remediation and restoration.  Additionally, Florida Pneumatic implemented a series of containment measure.  At the present time, the Company believes that its corporate offices and its other subsidiaries, all of which operate on separate, independent networks, have not been affected by this incident.  Florida Pneumatic is assessing the potential effect on its operations and financial results, while managing the situation to mitigate its impact. 

              The Company does not believe the incident had an impact on its consolidated financial data that was used in the preparation of its Quarterly Report filed on Form 10-Q for the three-month period ended March 31, 2021.