ADM TRONICS UNLIMITED, INC. Files 2024 10-K

TL;DR

ADM TRONICS UNLIMITED, INC. filed its 2024 10-K. Check financials for the year ending 3/31/24.

AI Summary

ADM TRONICS UNLIMITED, INC. filed its 10-K for the fiscal year ending March 31, 2024. The company, incorporated in Delaware and headquartered in Northvale, NJ, operates in the electromedical and electrotherapeutic apparatus sector. The filing covers financial data and operational details for the period.

Why It Matters

This 10-K filing provides a comprehensive overview of ADM TRONICS UNLIMITED, INC.'s financial health and business operations for the fiscal year ending March 31, 2024, which is crucial for investors and stakeholders to assess the company's performance and future prospects.

Risk Assessment

Risk Level: low — The filing is a standard annual report and does not indicate any immediate or significant risks.

Key Numbers

• 0331 — Fiscal Year End (Indicates the end of the reporting period for financial statements.)
• 20240715 — Filing Date (The date the 10-K was officially submitted to the SEC.)

Key Players & Entities

• ADM TRONICS UNLIMITED, INC. (company) — Filer of the 10-K
• 20240331 (date) — Fiscal year end date
• 20240715 (date) — Filing date
• Northvale, NJ (location) — Company headquarters
• 3845 (industry_code) — Standard Industrial Classification for Electromedical & Electrotherapeutic Apparatus

FAQ

Key Financial Figures

• $956,000 — of March 31, 2024, we had approximately $956,000 of back-log for electronic product orde
• $576,903 — esearch and development activities were $576,903 and $541,184, respectively. During such
• $541,184 — evelopment activities were $576,903 and $541,184, respectively. During such fiscal years
• $3,000,000 — aggregate product liability coverage of $3,000,000 for certain of our products. We believe

Filing Documents

• admt20240331_10k.htm (10-K) — 887KB
• ex_697406.htm (EX-31.1) — 8KB
• ex_697407.htm (EX-32.1) — 5KB
• 0001437749-24-022742.txt ( ) — 5104KB
• admt-20240331.xsd (EX-101.SCH) — 44KB
• admt-20240331_cal.xml (EX-101.CAL) — 57KB
• admt-20240331_def.xml (EX-101.DEF) — 326KB
• admt-20240331_lab.xml (EX-101.LAB) — 274KB
• admt-20240331_pre.xml (EX-101.PRE) — 356KB
• admt20240331_10k_htm.xml (XML) — 733KB

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS This Annual Report on Form 10-K contains various forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and information that is based on management's beliefs as well as assumptions made by and information currently available to management. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. When used in this report, the words "anticipate," "believe," "estimate," "expect," "predict," "project" and similar expressions are intended to identify forward-looking statements. We cannot guarantee the accuracy of the forward-looking statements, and you should be aware that our actual results could differ materially from those contained in the forward-looking statements due to a number of factors, including the statements under "Risk Factors" set forth in "Item 1 - Description of Business" and the statements under "Critical Accounting Policies" set forth in "Item 6 - Management's Discussion and Analysis or Plan of Operation." Due to these uncertainties and risks, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this Annual Report on Form 10-K. Unless otherwise indicated in this prospectus, references to "we," "us," "our" or the "Company" refer to ADM Tronics Unlimited, Inc. and its subsidiaries. PART I

BUSINESS

ITEM 1. BUSINESS COMPANY OVERVIEW The Company is a technology-based developer and manufacturer of diversified lines of products and derives revenue from the production and sale of electronics for medical devices and other applications; environmentally safe chemical products for industrial, medical and cosmetic uses; and, research, development, regulatory and engineering services. The Company is a corporation that was organized under the laws of the State of Delaware on November 24, 1969. Our operations are conducted through ADM Tronics Unlimited, Inc. ("ADM") and its subsidiary Sonotron Medical Systems, Inc. ("SMI"). COMPANY PRODUCTS AND SERVICES ELECTRONICS FOR MEDICAL DEVICES AND OTHER APPLICATIONS We develop and manufacture electronic technologies for non-invasive, electrotherapeutic and diagnostic medical devices as well as for veterinary and other applications. The products are manufactured at our Northvale facility which is an FDA-Registered Medical Device Manufacturing facility. We develop and manufacture our own proprietary products as well as on a contract basis for other companies. CONTRACT MANUFACTURING The Company derives revenues from contract manufacturing of electronic medical and other devices from non-affiliated customers. As of March 31, 2024, we had approximately $956,000 of back-log for electronic product orders. ENVIRONMENTALLY SAFE CHEMICAL PRODUCTS FOR INDUSTRIAL USES We develop, manufacture, and sell chemical products to industrial users. Such products consist primarily of the following: Water-based primers and adhesives; Water-based coatings and resins; Water-based chemical additives; and Anti-static conductive paints, coating and other products. Water-based primers and adhesives are chemical compounds used to bind different plastic films, metal foils and papers. Examples are the binding of polyethylene to polyester, nylon, vinyl, aluminum, polypropylene, paper and cellophane. Our water-based primers and adhesives are simila

RISK FACTORS

ITEM 1A. RISK FACTORS An investment in our stock involves a high degree of risk. You should carefully consider the following information, together with other information in this annual report, before buying shares of our stock. If any of the following risks or uncertainties occur, our business, financial condition and results of operations could be materially and adversely affected, the trading price of our stock could decline and you may lose all or a part of the money you paid to buy our stock. RISKS RELATING TO OUR OPERATIONS NEW ENVIRONMENTAL OR OTHER REGULATIONS COULD INCREASE THE COMPANY'S OPERATING COSTS. Like other manufacturers, the Company is subject to a broad range of Federal, state and local laws and requirements, including those governing discharges in the air and water, the handling and disposal of solid and hazardous substances and wastes, the remediation of contamination associated with the release of hazardous substances, work place safety and equal employment opportunities. We have made expenditures to comply with such laws and requirements. We believe, based on information currently available to management, that we are in compliance with applicable environmental and other legal requirements and that we will not require material capital expenditures to maintain compliance with such requirements in the foreseeable future. Governmental authorities have the power to enforce compliance with such laws and regulations, and violators may be subject to penalties, injunctions or both. Third parties may also have the right to enforce compliance with such laws and regulations. As ADM develops new products, those products may become subject to additional review and approval requirements governing the sale and use of its products. Although our manufacturing processes do not currently result in the generation of hazardous wastes, this may not always be the case and material costs or liabilities may be incurred by us in the future as a result of the manufac

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View this 10-K filing on SEC EDGAR