ADM TRONICS UNLIMITED Files Q2 2024 10-Q

TL;DR

ADM TRONICS UNLIMITED filed their Q2 2024 10-Q, showing financial updates for the period ending 9/30/24.

AI Summary

ADM TRONICS UNLIMITED, INC. filed its 10-Q for the period ending September 30, 2024. The filing details financial information for the second quarter of fiscal year 2025, including fair value measurements for recurring items. The company's fiscal year ends on March 31st, and this report covers the period from April 1, 2024, to September 30, 2024.

Why It Matters

This filing provides investors with an update on ADM TRONICS UNLIMITED's financial health and performance for the second quarter of their fiscal year.

Risk Assessment

Risk Level: low — This is a routine quarterly filing with no immediate red flags or significant negative news.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the financial period covered by the report.)
• 2024-11-14 — Filing Date (The date the report was officially submitted to the SEC.)
• 0331 — Fiscal Year End (Specifies the end date of the company's fiscal year.)

Key Players & Entities

• ADM TRONICS UNLIMITED, INC. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of reporting period
• 2024-11-14 (date) — Filing date
• 2024-04-01 (date) — Start of reporting period

FAQ

Key Financial Figures

• $250,000 — Corporation ("FDIC") up to a maximum of $250,000. At September 30, 2024 and March 31, 20

Filing Documents

• admt20240930_10q.htm (10-Q) — 899KB
• ex_745264.htm (EX-21.1) — 1KB
• ex_745265.htm (EX-31.1) — 9KB
• ex_745266.htm (EX-32.1) — 5KB
• 0001437749-24-035247.txt ( ) — 4502KB
• admt-20240930.xsd (EX-101.SCH) — 39KB
• admt-20240930_def.xml (EX-101.DEF) — 268KB
• admt-20240930_lab.xml (EX-101.LAB) — 245KB
• admt-20240930_pre.xml (EX-101.PRE) — 299KB
• admt-20240930_cal.xml (EX-101.CAL) — 42KB
• admt20240930_10q_htm.xml (XML) — 648KB

- Financial Information

Part I - Financial Information Item 1. Condensed Consolidated Financial Statements (unaudited): Condensed Consolidated Balance Sheets –September 30, 2024 (unaudited) and March 31, 2024 3 Condensed Consolidated Statements of Operations for the three and six months ended September 30, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statement of Stockholders' Equity for the six months ended September 30, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Cash Flows for the six months ended September 30, 2024 and 2023 (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 18 Item 4.

Controls and Procedures

Controls and Procedures 19

- Other Information

Part II - Other Information Item 1.

Legal Proceedings

Legal Proceedings 19 Item 1A.

Risk Factors

Risk Factors 19 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 19 Item 3. Defaults Upon Senior Securities 19 Item 4. Mine Safety Disclosures 19 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 September 30, March 31, 2024 2024 ASSETS Current assets: Cash and cash equivalents $ 427,777 $ 537,041 Accounts receivable, net of credit losses of $ 975,597 and $ 814,788 at September 30, 2024 and March 31, 2024, respectively 466,833 344,526 Inventories 458,844 313,409 Prepaid expenses and other current assets 12,787 19,223 Total current assets 1,366,241 1,214,199 Other Assets: Long-term inventory 223,989 226,722 Operating lease right-of-use asset 356,909 399,521 Loan receivable, net of allowance for doubtful accounts of $ 240,965 at September 30, 2024 and March 31, 2024, respectively. 89,125 89,125 Investments 337,500 - Intangible assets, net of accumulated amortization of $ 31,723 and $ 27,936 at September 30, 2024 and March 31, 2024, respectively 18,586 22,373 Other assets 14,917 186,788 Total other assets 1,041,026 924,529 Total assets $ 2,407,267 $ 2,138,728 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 300,688 $ 266,082 Bank overdraft 78,396 112,391 Accrued expenses and other current liabilities 20,599 61,268 PPP loan 3,586 6,276 Line of credit 382,367 389,530 Operating lease liability 91,072 87,727 Customer deposits 164,094 200,661 Total current liabilities 1,040,802 1,123,935 Long-term liabilities Due to employee 79,449 - Operating lease liability less current portion 275,197 322,402 Total long-term liabilities 354,646 322,402 Total liabilities 1,395,448 1,446,337 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 33,605,708

View Full Filing

View this 10-Q filing on SEC EDGAR