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Central Bank of Armenia The Central Bank of Armenia (Armenian: Հայաստանի Կենտրոնական Բանկ, romanized: Hayastani Kentronakan Bank) is the central bank of Armenia with its headquarters in Yerevan. The CBA is an independent institution responsible for issuing all banknotes and coins in the country, overseeing and regulating the banking sector and keeping the government's currency reserves.
Financial statement Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity.\nRelevant financial information is presented in a structured manner and in a form which is easy to understand.
Différance Différance is a French term coined by Jacques Derrida. It is a central concept in Derrida's deconstruction, a critical outlook concerned with the relationship between text and meaning.
Ancient Egyptian religion Ancient Egyptian religion was a complex system of polytheistic beliefs and rituals that formed an integral part of ancient Egyptian culture. It centered on the Egyptians' interactions with many deities believed to be present in, and in control of the world.
Record shop A record shop or record store is a retail outlet that sells recorded music. In the late 19th century and the early 20th century, record shops only sold gramophone records, but over the 20th century, record shops sold the new formats that were developed, such as eight track tapes, compact cassettes and compact discs (CDs).
Holding company A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself.
Balance sheet In financial accounting, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as government or not-for-profit entity. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year.
Financial law Financial law is the law and regulation of the insurance, derivatives, commercial banking, capital markets and investment management sectors. Understanding Financial law is crucial to appreciating the creation and formation of banking and financial regulation, as well as the legal framework for finance generally.
Trustmark (bank) Trustmark is a commercial bank and financial services company headquartered in Jackson, Mississippi, United States, with subsidiaries Trustmark National Bank, Trustmark Investment Advisors, and Fisher Brown Bottrell Insurance. The bank's initial predecessor, The Jackson Bank, was chartered by the State of Mississippi in 1889.
Additional Mathematics Additional Mathematics is a qualification in mathematics, commonly taken by students in high-school (or GCSE exam takers in the United Kingdom). It is applied to a range of problems set out in a different format and wider content to the standard Mathematics at the same level.
Superintendent of police (India) Superintendent of police or SP is a senior rank in Indian Police Service or IPS. Superintendent of Police in Hindi means पुलिस अधीक्षक. They have one Star and one Ashoka emblem on their shoulders and below IPS is written.
Order of Australia The Order of Australia is an honour that recognises Australian citizens and other persons for outstanding achievement and service. It was established on 14 February 1975 by Elizabeth II, Queen of Australia, on the advice of the Australian Government.
Adverse possession Adverse possession, sometimes colloquially described as "squatter's rights", is a legal principle in the Anglo-American common law under which a person who does not have legal title to a piece of property—usually land (real property)—may acquire legal ownership based on continuous possession or occupation of the property without the permission (licence) of its legal owner. The possession by a person is not adverse if they are in possession as a tenant or licensee of the legal owner.
Anthony Adverse Anthony Adverse is a 1936 American epic historical drama film directed by Mervyn LeRoy and starring Fredric March and Olivia de Havilland. The screenplay by Sheridan Gibney draws elements of its plot from eight of the nine books in Hervey Allen's historical novel, Anthony Adverse.
Adverse (film) Adverse is a 2020 American crime thriller film written and directed by Brian Metcalf and starring Thomas Nicholas, Lou Diamond Phillips, Sean Astin, Kelly Arjen, Penelope Ann Miller, and Mickey Rourke. It premiered at the Fantasporto Film Festival, Portugal's largest film festival, on February 28, 2020.
Hostile witness A hostile witness, also known as an adverse witness or an unfavorable witness, is a witness at trial whose testimony on direct examination is either openly antagonistic or appears to be contrary to the legal position of the party who called the witness. This concept is used in the legal proceedings in the United States, and analogues of it exist in other legal systems in Western countries.
Approximation An approximation is anything that is intentionally similar but not exactly equal to something else.\n\n\n== Etymology and usage ==\nThe word approximation is derived from Latin approximatus, from proximus meaning very near and the prefix ad- (ad- before p becomes ap- by assimilation) meaning to.
Approximate entropy In statistics, an approximate entropy (ApEn) is a technique used to quantify the amount of regularity and the unpredictability of fluctuations over time-series data.For example, there are two series of data:\n\nseries 1: (10,20,10,20,10,20,10,20,10,20,10,20...), which alternates 10 and 20.series 2: (10,10,20,10,20,20,20,10,10,20,10,20,20...), which has either a value of 10 or 20, chosen randomly, each with probability 1/2.Moment statistics, such as mean and variance, will not distinguish between these two series. Nor will rank order statistics distinguish between these series.
Silk Road (marketplace) Silk Road was an online black market and the first modern darknet market. As part of the dark web, it was operated as a Tor hidden service, such that online users were able to browse it anonymously and securely without potential traffic monitoring.
Government of India The Government of India (ISO: Bhārat Sarkār) (often abbreviated as GoI; also known as the Central or Union Government), or simply the Centre, is the federal governing authority of the Republic of India created by the Constitution of India as the legislative, executive and judicial authority to govern the union of twenty eight states and eight union territories. The president acts as the head of state and is the highest figure of authority, nominally, of the nation however it is the prime minister who is the chief executive.
Federal government of the United States The federal government of the United States (U.S. federal government or U.S. government) is the national government of the United States, a federal republic in North America, composed of 50 states, a city within a federal district (the city of Washington in the District of Columbia, where the entire federal government is based), five major self-governing territories and several island possessions. The federal government is composed of three distinct branches: legislative, executive, and judicial, whose powers are vested by the U.S. Constitution in the Congress, the president and the federal courts, respectively.
Government agency A government or state agency, sometimes an appointed commission, is a permanent or semi-permanent organization in the machinery of government that is responsible for the oversight and administration of specific functions, such as an administration. There is a notable variety of agency types.
Executive (government) The executive (short for executive branch or executive power) is the part of government that enforces law, and has responsibility for the governance of a state.\nIn political systems based on the principle of separation of powers, authority is distributed among several branches (executive, legislative, judicial)—an attempt to prevent the concentration of power in the hands of a single group of people.
Indian termination policy Indian termination is a phrase describing United States policies relating to Native Americans from the mid-1940s to the mid-1960s. It was shaped by a series of laws and practices with the intent of assimilating Native Americans into mainstream American society.
Bankruptcy Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor.
International Standards on Auditing International Standards on Auditing (ISA) are professional standards for the auditing of financial information. These standards are issued by the International Auditing and Assurance Standards Board (IAASB).
New product development In business and engineering, new product development (NPD) covers the complete process of bringing a new product to market, renewing an existing product or introducing a product in a new market. A central aspect of NPD is product design, along with various business considerations.
Technological determinism Technological determinism is a reductionist theory that assumes that a society's technology progresses by following its own internal logic of efficiency, while determining the development of the social structure and cultural values, therefore technological progress is fundamentally an anti-democratic force. The term is believed to have originated from Thorstein Veblen (1857–1929), an American sociologist and economist.
Technological change Technological change (TC) or technological development is the overall process of invention, innovation and diffusion of technology or processes. In essence, technological change covers the invention of technologies (including processes) and their commercialization or release as open source via research and development (producing emerging technologies), the continual improvement of technologies (in which they often become less expensive), and the diffusion of technologies throughout industry or society (which sometimes involves disruption and convergence).
Biomass Biomass is plant-based material used as fuel to produce heat or electricity. Examples are wood and wood residues, energy crops, agricultural residues, and waste from industry, farms and households.
Three-mirror anastigmat A three-mirror anastigmat is an anastigmat telescope built with three curved mirrors, enabling it to minimize all three main optical aberrations – spherical aberration, coma, and astigmatism. This is primarily used to enable wide fields of view, much larger than possible with telescopes with just one or two curved surfaces.
Delivery (commerce) Delivery is the process of transporting goods from a source location to a predefined destination. Cargo (physical goods) is primarily delivered via roads and railroads on land, shipping lanes on the sea, and airline networks in the air.
Delivery Hero Delivery Hero is a German multinational online food-delivery service based in Berlin, Germany. The company operates in 50+ countries internationally in Europe, Asia, Latin America and the Middle East and partners with 500,000+ restaurants.
Risk Factors
TEL INSTRUMENT ELECTRONICS CORP Item 1A Risk Factors The statements contained in this Report on Form 10-K that are not purely historical are &quote forward-looking statements &quote within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including and without limitations, statements regarding the Companyapstas expectations, hopes, beliefs, anticipations, commitments, intentions and strategies regarding the future
Forward-looking statements include, but are not limited to, statements contained in &quote Item 1
Managementapstas Discussion and Analysis of Financial Condition and Results of Operations &quote
Actual results could differ from those projected in any forward-looking statements for the reasons, among others, detailed below
The Company believes that many of the risks detailed here are part of doing business in the industry in which the Company competes and will likely be present in all periods reported
The forward-looking statements are made as of the date of this Report on Form 10-K and the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements
You should carefully consider these factors that could materially affect the Companyapstas business, financial condition or future results
The risks described below are not the only risks facing the Company
Additional risks and uncertainties not currently known or deemed to be immaterial also may materially adversely affect the business, financial condition and/or operating results
6 Item 1A Risk Factors (continued) Changes in the Spending Priorities of the Federal Government In fiscal year 2006, approximately 47prca of the Companyapstas revenues were related to products purchased by the US Government
The Companyapstas business depends upon continued federal government expenditures on defense, aerospace, and other programs that the Company supports
In addition, foreign military sales are affected by US Government regulations
There can be no assurance that the US defense and military budget will continue to grow, and/or funds be allocated to the types of products that the Company manufactures
In addition, the terms of defense contracts with the US Government generally permit the government to terminate such contracts, with or without cause, at any time
The Company has not experienced any such terminations in the last five years
Any unexpected termination of a significant contract with the US Government can adversely affect the future financial condition and results of operations of the Company
Airline Industry Concerns Several of the Companyapstas aviation customers filed for bankruptcy protection during fiscal years 2006 and 2005
The aviation industry continues to struggle with the cost of security and higher fuel prices, and the Companyapstas commercial sales have declined over the last three years
Additional bankruptcy filings and the continued financial difficulties in the aviation industry could have a material adverse impact on the Companyapstas operating results and financial condition
New Products The successful operation of the Company depends on our ability to anticipate market needs and develop and introduce new products and product enhancements that respond to technological changes or evolving industry standards on a timely and cost-effective basis
The Company must continue to develop leading-edge products and introduce them to the market quickly in order to be successful
The Companyapstas failure to produce technologically competitive products in a cost-effective manner and on a timely basis could harm the business, financial condition and results of operations
Financial Results As more fully discussed under Managementapstas Discussion and Analysis of Financial Condition and Results of Operations ( &quote MD&A &quote ), the Company is in a transitional phase between the end of its long-term AN/APM-480 contract and the commencement of deliveries under its new multi-year AN/USM-708 contract
Furthermore, sales of its marine systems have not grown as expected
As a result, consolidated revenues have declined since fiscal year 2003, and the Company has sustained losses in the last two fiscal years
As discussed in the MD&A, the Company has adopted a transitional profit improvement plan, and is actively bidding for new contracts
Production deliveries under its new AN/USM-708 multi-year contract do not commence until calendar year 2008
During the last three years working capital has increased to approximately dlra4dtta3 million, and cash has increased to approximately dlra1dtta9 million