ADM TRONICS UNLIMITED, INC. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>ADM TRONICS UNLIMITED, INC. filed its Q3 2023 10-Q report on February 20, 2024.</b>

AI Summary

ADM TRONICS UNLIMITED, INC. (ADMT) filed a Quarterly Report (10-Q) with the SEC on February 20, 2024. ADM TRONICS UNLIMITED, INC. filed a 10-Q for the period ending December 31, 2023. The filing covers the third quarter of fiscal year 2023. The company's fiscal year ends on March 31st. The filing was made on February 20, 2024. The company's principal business is in Electromedical & Electrotherapeutic Apparatus.

Why It Matters

For investors and stakeholders tracking ADM TRONICS UNLIMITED, INC., this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and operational updates for ADM TRONICS UNLIMITED, INC. for the third quarter of fiscal year 2023. Understanding the details within this report is crucial for assessing the company's current financial health, strategic direction, and potential risks and opportunities moving forward.

Risk Assessment

Risk Level: low — ADM TRONICS UNLIMITED, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not indicate any immediate or significant financial distress or unusual events.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to understand the company's performance and outlook.

Key Numbers

• 2023-12-31 — Period of Report (Conformed Period of Report)
• 2024-02-20 — Filing Date (Filed as of Date)
• 0331 — Fiscal Year End (Fiscal Year End)
• 201-767-6040 — Business Phone (Business Phone)

Key Players & Entities

• ADM TRONICS UNLIMITED, INC. (company) — Filer
• 2023-12-31 (date) — Period of report
• 2024-02-20 (date) — Filed as of date
• 3845 (industry_code) — Standard Industrial Classification
• DE (state) — State of incorporation
• 0331 (date) — Fiscal year end
• 1934 Act (regulation) — SEC Act
• 2017676040 (phone) — Business phone

FAQ

Industry Context

ADM TRONICS UNLIMITED, INC. operates within the Electromedical & Electrotherapeutic Apparatus industry.

Regulatory Implications

The filing is a standard 10-Q, adhering to the reporting requirements of the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow.
2. Review any disclosed risk factors or management discussions.
3. Compare Q3 2023 performance to previous periods if comparative data is available in the full filing.

Key Dates

• 2023-12-31: End of Reporting Period — Covers the third quarter of fiscal year 2023.
• 2024-02-20: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the 10-Q filing for the period ending December 31, 2023. Comparative financial data for the prior year's quarter or year-to-date period would be found within the full document.

Key Financial Figures

• $250,000 — Corporation ("FDIC") up to a maximum of $250,000. At December 31, 2023 and March 31, 202

Filing Documents

• admt20231231c_10q.htm (10-Q) — 844KB
• ex_622582.htm (EX-21.1) — 1KB
• ex_622583.htm (EX-31.1) — 10KB
• ex_622584.htm (EX-32.1) — 7KB
• 0001437749-24-004723.txt (&nbsp;) — 4002KB
• admt-20231231.xsd (EX-101.SCH) — 38KB
• admt-20231231_def.xml (EX-101.DEF) — 256KB
• admt-20231231_lab.xml (EX-101.LAB) — 231KB
• admt-20231231_pre.xml (EX-101.PRE) — 283KB
• admt-20231231_cal.xml (EX-101.CAL) — 36KB
• admt20231231c_10q_htm.xml (XML) — 513KB

- Financial Information

Part I - Financial Information Item 1. Condensed Consolidated Financial Statements (unaudited): Condensed Consolidated Balance Sheets –December 31, 2023 (unaudited) and March 31, 2023 3 Condensed Consolidated Statements of Operations for the three and nine months ended December 31, 2023 and 2022 (unaudited) 4 Condensed Consolidated Statement of Stockholders' Equity for the three and nine months ended December 31, 2023 and 2022 (unaudited) 5 Condensed Consolidated Statements of Cash Flows for the nine months ended December 31, 2023 and 2022 (unaudited) 6 Notes to Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 19 Item 4.

Controls and Procedures

Controls and Procedures 19

- Other Information

Part II - Other Information Item 1.

Legal Proceedings

Legal Proceedings 20 Item 1A.

Risk Factors

Risk Factors 20 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 20 Item 3. Defaults Upon Senior Securities 20 Item 4. Mine Safety Disclosures 20 Item 5. Other Information 20 Item 6. Exhibits 20

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS ADM TRONICS UNLIMITED, INC. AND SUBSIDIARY CONDENSED CONSOLIDATED BALANCE SHEETS December 31, March 31, 2023 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 661,985 $ 1,003,730 Accounts receivable, net of allowance for credit losses of $ 429,972 and $ 694,871 at December 31, 2023 and March 31, 2023, respectively 780,882 497,793 Inventories 487,431 443,465 Prepaid expenses and other current assets 8,082 41,251 Total current assets 1,938,380 1,986,239 Other Assets: Long-term inventory $ 141,696 $ 228,451 Operating lease right-of-use asset 420,421 481,535 Loan receivable, - 209,809 Due from affiliate - 80,090 Intangible assets, net of accumulated amortization of $ 26,001 and $ 22,631 at December 31, 2023 and March 31, 2023, respectively 24,308 13,163 Other assets 90,538 90,538 Deferred tax asset - - Total other assets 676,963 1,103,586 Total assets $ 2,615,343 $ 3,089,825 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 293,497 $ 322,639 Bank overdraft 145,115 134,837 Accrued expenses and other current liabilities 100,531 75,659 PPP loan 7,621 11,656 Line of credit 298,378 112,809 Operating lease liability 87,727 82,917 Customer deposits 235,348 359,723 Due to stockholder - 13,626 Total current liabilities 1,168,217 1,113,866 Long-term liabilities PPP loan less current portion - - Operating lease liability less current portion 343,926 410,474 Total long-term liabilities 343,926 410,474 Total liabilities 1,512,143 1,524,340 Stockholders' equity: Preferred stock, $ .01 par value; 5,000,000 shares authorized, no shares issued and outstanding - - Common stock, $ 0.0005 par value; 150,000,000 shares authorized, 67,588,492 shares issued and outstanding 33,794 33,794 Additional paid-in capital 33,602,612

View Full Filing

View this 10-Q filing on SEC EDGAR