Item 8.01 Other Events.

As previously disclosed in the Company's Reports on Form 8-K, filed with the Securities and Exchange Commission on December 6, 2011 and January 17, 2012, the Company and SKA Machining, Inc. ("SKA") entered into a certain contract of sale, dated November 30, 2011 (the "Agreement"), pursuant to which the Company agreed to sell to SKA its facility located at 979 Marconi Avenue, Ronkonkoma, New York 11779 ("Premises"). SKA subsequently assigned its rights in the Agreement to its affiliate, K.A.V. Realty Associates, LLC ("KAV"). On April 26, 2012, the Company and KAV closed on the sale of the Premises as contemplated under the Agreement (the "Closing").

The purchase price for the Premises was $1,659,375, exclusive of closing costs (the "Purchase Price"). Upon execution of the Agreement, SKA deposited the sum of $100,000 into escrow as an initial down payment against the Purchase Price and the remaining balance of $1,559,375 was paid at the Closing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits. The following exhibit is filed as part of this Report on Form 8-K:

Exhibit No. Description of Exhibit

99.1 Press Release, dated April 30, 2012

---