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Air T Inc – ‘10-K’ for 3/31/20 – ‘EX-32.1’

On:  Friday, 6/26/20, at 3:22pm ET   ·   For:  3/31/20   ·   Accession #:  353184-20-35   ·   File #:  1-35476

Previous ‘10-K’:  ‘10-K’ on 6/28/19 for 3/31/19   ·   Next:  ‘10-K’ on 6/25/21 for 3/31/21   ·   Latest:  ‘10-K/A’ on 6/28/23 for 3/31/23   ·   12 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size

 6/26/20  Air T Inc                         10-K        3/31/20  122:14M

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   1.45M 
 2: EX-4.2      Instrument Defining the Rights of Security Holders  HTML     49K 
 4: EX-10.100   Material Contract                                   HTML     51K 
 5: EX-10.101   Material Contract                                   HTML     51K 
 6: EX-10.102   Material Contract                                   HTML     51K 
 7: EX-10.103   Material Contract                                   HTML     51K 
 3: EX-10.99    Material Contract                                   HTML    339K 
 8: EX-21.1     Subsidiaries List                                   HTML     37K 
 9: EX-23.1     Consent of Experts or Counsel                       HTML     31K 
10: EX-31.1     Certification -- §302 - SOA'02                      HTML     37K 
11: EX-31.2     Certification -- §302 - SOA'02                      HTML     37K 
12: EX-32.1     Certification -- §906 - SOA'02                      HTML     32K 
13: EX-32.2     Certification -- §906 - SOA'02                      HTML     32K 
110: R1          Cover Page                                          HTML     99K  
52: R2          Consolidated Statements of Income                   HTML    165K 
38: R3          Consolidated Statements of Comprehensive Income     HTML     63K 
70: R4          Consolidated Statements of Comprehensive Income     HTML     33K 
                (Parentheticals)                                                 
109: R5          Consolidated Balance Sheets                         HTML    177K  
49: R6          Consolidated Balance Sheets (Parentheticals)        HTML     59K 
37: R7          Consolidated Statements of Cash Flows               HTML    171K 
73: R8          Consolidated Statements of Equity                   HTML     95K 
107: R9          Summary of Significant Accounting Policies          HTML    110K  
82: R10         Discontinued Operations                             HTML     75K 
119: R11         Major Customer                                      HTML     33K  
58: R12         Business Combinations                               HTML     59K 
44: R13         Variable Interest Entities                          HTML     39K 
81: R14         Fair Value of Financial Instruments                 HTML     65K 
118: R15         Inventories                                         HTML     51K  
57: R16         Assets on Lease                                     HTML     42K 
43: R17         Property and Equipment                              HTML     44K 
80: R18         Investments in Securities                           HTML     34K 
120: R19         Equity Method Investments                           HTML     50K  
60: R20         Accrued Expenses                                    HTML     45K 
21: R21         Lease Arrangements                                  HTML     60K 
86: R22         Financing Arrangements                              HTML    140K 
98: R23         Related Party Matters                               HTML     36K 
59: R24         Share Repurchase                                    HTML     34K 
20: R25         Employee and Non-Employee Stock Options             HTML     71K 
85: R26         Revenue Recognition                                 HTML    109K 
97: R27         Employee Benefits                                   HTML     35K 
61: R28         Income Taxes                                        HTML    128K 
19: R29         Quarterly Financial Information (Unaudited)         HTML    182K 
40: R30         Geographical Information                            HTML     63K 
55: R31         Segment Information                                 HTML     98K 
121: R32         Earnings Per Common Share                           HTML     77K  
83: R33         Commitments and Contingencies                       HTML     35K 
41: R34         Subsequent Events                                   HTML     41K 
56: R35         Summary of Significant Accounting Policies          HTML    134K 
                (Policies)                                                       
122: R36         Summary of Significant Accounting Policies          HTML     50K  
                (Tables)                                                         
84: R37         Discontinued Operations (Tables)                    HTML     79K 
42: R38         Business Combinations (Tables)                      HTML     58K 
54: R39         Fair Value of Financial Instruments (Tables)        HTML     63K 
27: R40         Inventories (Tables)                                HTML     53K 
68: R41         Assets on Lease (Tables)                            HTML     40K 
99: R42         Property and Equipment (Tables)                     HTML     44K 
87: R43         Equity Method Investments (Tables)                  HTML     44K 
28: R44         Accrued Expenses (Tables)                           HTML     45K 
69: R45         Lease Arrangements (Tables)                         HTML     59K 
100: R46         Financing Arrangements (Tables)                     HTML    129K  
88: R47         Employee and Non-Employee Stock Options (Tables)    HTML     69K 
29: R48         Revenue Recognition (Tables)                        HTML     97K 
67: R49         Income Taxes (Tables)                               HTML    124K 
51: R50         Quarterly Financial Information (Unaudited)         HTML    182K 
                (Tables)                                                         
39: R51         Geographical Information (Tables)                   HTML     65K 
72: R52         Segment Information (Tables)                        HTML     99K 
111: R53         Earnings Per Common Share (Tables)                  HTML     77K  
50: R54         SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -        HTML    128K 
                Narrative (Details)                                              
36: R55         SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -        HTML     38K 
                Schedule of goodwill (Details)                                   
71: R56         SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -        HTML     47K 
                Schedule of finite-lived intangible asset useful                 
                lives (Details)                                                  
108: R57         Discontinued Operations (Details)                   HTML     55K  
53: R58         Discontinued Operations - Income Statement Summary  HTML     52K 
                of Discontinued Operations (Details)                             
35: R59         DISCONTINUED OPERATIONS - Balance Sheet Summary of  HTML     96K 
                Discontinued Operations (Details)                                
95: R60         DISCONTINUED OPERATIONS - Capital Expenditures,     HTML     41K 
                Depreciation, and Amortization (Details)                         
104: R61         Major Customer (Details)                            HTML     40K  
66: R62         Business Combinations (Details)                     HTML     46K 
26: R63         Business Combinations - Schedule of Business        HTML     41K 
                Acquisitions, by Acquisition (Details)                           
92: R64         BUSINESS COMBINATIONS - Schedule of Recognized      HTML     76K 
                Identified Assets Acquired and Liabilities Assumed               
                (Details)                                                        
101: R65         Variable Interest Entities (Details)                HTML     54K  
63: R66         FAIR VALUE OF FINANCIAL INSTRUMENTS - Schedule of   HTML     50K 
                Fair Value, Assets and Liabilities Measured on                   
                Recurring Basis, Unobservable Input Reconciliation               
                (Details)                                                        
23: R67         FAIR VALUE OF FINANCIAL INSTRUMENTS - Fair Value,   HTML     54K 
                Liabilities Measured on Recurring Basis,                         
                Unobservable Input Reconciliation (Details)                      
91: R68         INVENTORIES - Schedule of Inventories (Details)     HTML     52K 
106: R69         Assets on Lease (Details)                           HTML     52K  
114: R70         Property and Equipment (Details)                    HTML     44K  
74: R71         Investments in Securities (Details)                 HTML     35K 
30: R72         EQUITY METHOD INVESTMENTS - Narrative (Details)     HTML     60K 
45: R73         EQUITY METHOD INVESTMENTS - Schedule of Equity      HTML     53K 
                Method Investments (Details)                                     
117: R74         Accrued Expenses (Details)                          HTML     44K  
77: R75         Lease Arrangements (Details)                        HTML     38K 
34: R76         Lease Arrangements - Lease, Cost (Details)          HTML     58K 
48: R77         LEASE ARRANGEMENTS - Lessee, Operating Lease,       HTML     52K 
                Liability, Maturity (Details)                                    
112: R78         FINANCING ARRANGEMENTS - Schedule of Debt           HTML    109K  
                (Details)                                                        
78: R79         Financing Arrangements (Details)                    HTML     95K 
115: R80         Financing Arrangements - Schedule of Maturities of  HTML     58K  
                Long-term Debt (Details)                                         
75: R81         FINANCING ARRANGEMENTS - Interest Income and        HTML     41K 
                Interest Expense Disclosure (Details)                            
31: R82         Related Party Matters (Details)                     HTML     43K 
46: R83         Share Repurchase (Details)                          HTML     47K 
116: R84         Employee and Non-Employee Stock Options (Details)   HTML     41K  
76: R85         Employee and Non-Employee Stock Options -           HTML     75K 
                Share-based Payment Arrangement, Option, Activity                
                (Details)                                                        
33: R86         REVENUE RECOGNITION - Disaggregation of Revenue     HTML     70K 
                (Details)                                                        
47: R87         REVENUE RECOGNITION - Contract with Customer,       HTML     36K 
                Asset and Liability (Details)                                    
113: R88         Employee Benefits (Details)                         HTML     35K  
79: R89         INCOME TAXES - Schedule of Components of Income     HTML     56K 
                Tax Expense (Benefit) (Details)                                  
94: R90         Income Taxes (Details)                              HTML     64K 
103: R91         Income Taxes - Schedule of Effective Income Tax     HTML     90K  
                Rate Reconciliation (Details)                                    
65: R92         INCOME TAXES - Schedule of Deferred Tax Assets and  HTML     81K 
                Liabilities (Details)                                            
25: R93         Quarterly Financial Information (Unaudited)         HTML     97K 
                (Details)                                                        
93: R94         GEOGRAPHICAL INFORMATION - Long-lived Assets by     HTML     47K 
                Geographic Areas (Details)                                       
102: R95         GEOGRAPHICAL INFORMATION - Revenue from External    HTML     43K  
                Customers by Geographic Areas (Details)                          
64: R96         Segment Information (Details)                       HTML     32K 
24: R97         Segment Information - Schedule of Segment           HTML     92K 
                Reporting Information, by Segment (Details)                      
89: R98         EARNINGS PER COMMON SHARE - Schedule of Earnings    HTML    116K 
                Per Share, Basic and Diluted (Details)                           
105: R99         Subsequent Events (Details)                         HTML     48K  
32: XML         IDEA XML File -- Filing Summary                      XML    214K 
96: XML         XBRL Instance -- airt-20200331_htm                   XML   3.44M 
22: EXCEL       IDEA Workbook of Financial Reports                  XLSX    127K 
15: EX-101.CAL  XBRL Calculations -- airt-20200331_cal               XML    410K 
16: EX-101.DEF  XBRL Definitions -- airt-20200331_def                XML    963K 
17: EX-101.LAB  XBRL Labels -- airt-20200331_lab                     XML   2.27M 
18: EX-101.PRE  XBRL Presentations -- airt-20200331_pre              XML   1.43M 
14: EX-101.SCH  XBRL Schema -- airt-20200331                         XSD    216K 
90: JSON        XBRL Instance as JSON Data -- MetaLinks              516±   771K 
62: ZIP         XBRL Zipped Folder -- 0000353184-20-000035-xbrl      Zip    542K 


‘EX-32.1’   —   Certification — §906 – SOA’02


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Exhibit 32.1
CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO 18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
In connection with the Air T, Inc. (the “Company”) Annual Report on Form 10-K for the year ended March 31, 2020 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Nick Swenson, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. ss. 1350, as adopted pursuant to ss. 906 of the Sarbanes-Oxley Act of 2002, that:
(1)The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and
(2)The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.
/s/ Nick Swenson
Nick Swenson, Chief Executive Officer



Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:6/26/20
For Period end:3/31/20SC 13D/A
 List all Filings 


12 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/12/24  Air T Inc.                        S-3                    4:1.3M
 3/12/24  Air T Inc.                        S-3                    4:3.9M
 8/23/23  Air T Inc.                        S-1                    7:3.2M
 6/28/23  Air T Inc.                        10-K/A      3/31/23  125:11M
 6/27/23  Air T Inc.                        10-K        3/31/23  131:21M
 6/28/22  Air T Inc.                        10-K        3/31/22  124:13M
11/19/21  Air T Funding                     424B5                  1:726K                                   RDG Filings/FA
 8/09/21  Air T Funding                     424B5                  1:732K                                   RDG Filings/FA
 6/25/21  Air T Inc.                        10-K        3/31/21  118:28M
 5/14/21  Air T Funding                     424B5                  1:713K                                   RDG Filings/FA
 3/22/21  Air T Inc.                        424B3                  1:592K                                   RDG Filings/FA
 3/11/21  Air T Inc.                        S-3         3/10/21    3:764K                                   RDG Filings/FA
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Filing Submission 0000353184-20-000035   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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