EXHIBIT 99.1

                                  Risk Factors

     You should consider the following risks carefully in evaluating us and our
business before making an investment decision. The risks described below are not
the only risks we face. Additional risks may also impair our business
operations. If any of the following risks occur, our business, results of
operations or financial condition could be materially adversely affected. If
that happens, the trading price of our common stock could decline, and you may
lose all or part of your investment.

We have been forced to take significant write-offs and may be forced to do so
again in the future.

     We account for our long-term contracts using the "percentage of completion"
method. Under this method, we recognize revenues as costs are incurred under our
contracts, measured by the percentage of actual costs incurred to date against
estimated total costs. Under our commercial contracts, we do not receive cash
payments until our products are shipped to our customers. Accordingly, we may
recognize revenues even though we have not received any actual payment. We
therefore bear the risk that one of our contracts will be terminated after we
have expended substantial sums of money on production but prior to our delivery.
In 1998, we were forced to take a write-off of approximately $11,850,000 due to
such a cancellation. There can be no assurance that this will not happen again
to us in the future. If we are forced to take another substantial write-off, our
results of operations will be materially adversely affected.

Possible Delisting of Securities from Nasdaq System

     The Company's Common Stock is listed on the Nasdaq SmallCap Market
("Nasdaq"). In March 1999, the Company received a letter from Nasdaq that the
Company must demonstrate compliance with the $1.00 minimum bid price. In June
1999, the Company had a 1 for 3 reverse stock split and the company's stock has
since exceeded the minimum bid price. If the Company fails to meet any
maintenance criteria to be listed on Nasdaq, the Company's Common Stock may be
delisted from Nasdaq and trading, if any, in the Company's securities would
thereafter be conducted on the OTC Bulletin Board. As a result of such
delisting, an investor may find it more difficult to dispose of, or to obtain
accurate quotations as to the market value of, the Company's securities. In
addition, if the Common Stock was to become delisted from trading on Nasdaq and
the trading price of the Common Stock was to fall below $5.00 per share, trading
in the Common Stock would also be subject to the requirements of certain rules
promulgated under the Securities Exchange Act of 1934, as amended ("Exchange
Act"), which require additional disclosure by broker-dealers in connection with
any trades involving a stock defined as a penny stock (generally, any non-Nasdaq
equity security that has a market price of less than $5.00 per share,




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subject to certain exceptions). Such rules require the delivery, prior to any
penny stock transaction, of a disclosure schedule explaining the penny stock
market and the risks associated therewith, and impose various sales practice
requirements on broker-dealers who sell penny stocks to persons other than
established customers and accredited investors (generally institutions). For
these types of transactions, the broker-dealer must make a special suitability
determination for the purchaser and have received the purchaser's written
consent to the transaction prior to sale. The additional burdens imposed upon
broker-dealers by such requirements may discourage them from effecting
transactions in the Company's securities, which could severely limit the
liquidity of the Company's securities.

Our credit agreement contains restrictive covenants which may adversely affect
us.

     Our credit agreement contains restrictive covenants which, among other
things, restrict us from:

        o         incurring additional indebtedness;
        o         incurring liens;
        o         paying dividends;
        o         making certain other restricted payments or investments;
        o         consummating certain asset sales;
        o         entering into certain transactions with affiliates; and
        o         merging or consolidating with another entity.

The credit agreement also requires us to maintain specified financial ratios and
satisfy certain financial tests. Our ability to meet such financial ratios and
tests may be affected by events beyond our control. We cannot assure that we
will meet such tests. A breach of any of these covenants could result in an
event of default under the credit agreement. If such an event of default occurs,
the lenders could accelerate our indebtedness to them under the credit
agreement. We cannot assure you that our assets would be sufficient to repay our
indebtedness in full.

The markets we operate in are highly competitive.

     We derive all of our sales and operating income from the services and parts
we provide to our customers in the aviation industry. The aviation industry has
historically been characterized by intense competition. We compete with a large
number of foreign and domestic manufacturing companies including Northrop
Grumman Corporation, Aeronca, Inc., Shin-Meiwa and other subcontractors
throughout the world. Many of these companies have far greater financial and
other resources and more established reputations than we do. There can be no
assurance that our services and products will successfully compete with the
services and products of these companies. Competitive factors that effect our
business include:

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        o         price and quality;
        o         development and production capabilities;
        o         customer service; and
        o         industry experience.

If we are unable to compete effectively in several of these areas, our financial
condition and results of operations will be adversely affected.

Risks of Acquisitions

     The Company's strategy involves the acquisition and integration of
additional companies' products, technologies and personnel. The Company has
limited experience in acquiring outside businesses. Acquisition of businesses
requires substantial time and attention of management personnel and may require
also additional equity or debt financings. Further, integration of newly
established or acquired businesses is often disruptive. Since the Company may in
the future acquire additional businesses, there can be no assurance that the
Company will identify appropriate targets, will acquire such businesses on
favorable terms, or will be able to successfully integrate such organizations
into its business. Failure to do so could materially adversely affect the
Company's business, financial condition and results of operations.

Our results could be adversely affected by the potential loss or delay of our
government contracts.

     Our business consisted of 76.8% and 39.9% of U.S. Government contracts in
1999 and 1998, respectively. As a Government contractor, we are routinely
subject to audits, reviews and investigations by the Government related to our
negotiation and performance of Government contracts and our accounting for such
contracts. Under certain circumstances, a contractor can be suspended or
debarred from eligibility for Government contract awards. The Government may, in
certain cases, also terminate existing contracts, recover damages and impose
other sanctions and penalties. The loss of any of our contracts with the
Government could have a materially adverse effect on us. Recent U.S. budget
constraints, combined with a shift in the nation's security objectives, have
resulted in a downsizing of the U.S. defense industry.

Our revenues are dependent on a limited and highly concentrated number of
companies.

     We have three customers who accounted for more than 10% or more of our
annual revenue for the fiscal years ended December 31, 1999 and 1998. Our
agreements with these customers are subject to termination at will, in whole or
in part, at the convenience of the customer. Although the contracts often
require payment to us for the work we have already performed through the
termination date, the loss of business from one or more of these customers

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or any future customers of similar size could have a material adverse effect on
our results of operations or financial condition.

We are subject to strict governmental regulations relating to the environment
and aircraft components.

     We are required to comply with extensive and frequently changing
environmental regulations at the federal, state and local levels. Among other
things, these regulatory bodies impose restrictions to control air, soil and
water pollution to protect against occupational exposure to chemicals, including
health and safety risks, and to require notification or reporting of the
storage, use and release of certain hazardous substances into the environment.
This extensive regulatory framework imposes significant compliance burdens and
risks on us and, as a result, substantially affects our operational costs. In
addition, these regulations may impose liability for the cost of removal or
remediation of certain hazardous substances released on or in our facilities
without regard to whether we knew of, or caused, the release of such substances.
Furthermore, we are required to provide a place of employment that is free from
recognized and preventable hazards are likely to cause serious physical harm to
employees, provide notice to employees regarding the presence of hazardous
chemicals and to train employees in the use of such substances. Our operations
require the use of a limited amount of chemicals and other materials for
painting and cleaning that are classified under applicable laws as hazardous
chemicals and substances. While we believe that we are in substantial compliance
with all federal, state and local laws and regulations governing our operations
and have obtained all necessary permits required for the operation of our
business, there can be no assurance we will be able to comply with all
regulations and laws in the future.

     We are also subject to regulation by the FAA under the provisions of the
Federal Aviation Act of 1958, as amended. The FAA prescribes standards and
licensing requirements for aircraft and aircraft components. The costs of
compliance with these requirements are significant. We are subject to
inspections by the FAA and may be subjected to fines and other penalties
(including orders to cease production) for noncompliance with FAA regulations.
The failure on our part to comply with applicable regulations could result in
the termination or our disqualification from some of our contracts, which could
have a material adverse effect on our operations.

If the contracts associated with our backlog were terminated, our financial
condition would be adversely affected.

     Our backlog and bookings are subject to fluctuations and are not
necessarily indicative of future revenues. Our backlog is subject to termination
at will and rescheduling without a significant penalty. We cannot assure you
that our backlog will be completed and booked as revenue. Cancellations of
pending contracts or terminations or reductions of contracts in progress

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could have a material adverse effect on our business, financial condition or
results of operations.

We currently do not plan to pay cash dividends on our shares.

     We have never declared or paid any cash dividends on our common stock, nor
do we intend on doing so in the future. The payment of dividends, if any, in the
future is within the discretion of our Board of Directors and will depend upon
our earnings, capital requirements and financial condition as well as other
relevant factors. In addition, our credit agreement with Chase Manhattan Bank
and Mellon Bank provide that we may not declare or pay dividends on our common
stock so long as any amounts are owing to the lenders.

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