SCIENTIFIC INDUSTRIES INC Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>SCIENTIFIC INDUSTRIES INC filed its Q1 2024 10-Q report, detailing financial performance and business operations.</b>

AI Summary

SCIENTIFIC INDUSTRIES INC (SCND) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. SCIENTIFIC INDUSTRIES INC filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31st. The company is incorporated in Delaware. The SIC code for the company is 3826 (Laboratory Analytical Instruments).

Why It Matters

For investors and stakeholders tracking SCIENTIFIC INDUSTRIES INC, this filing contains several important signals. This 10-Q filing provides investors with an updated view of the company's financial health and operational performance for the first quarter of 2024. Understanding the details within this report is crucial for assessing the company's current standing and future prospects in the laboratory analytical instruments market.

Risk Assessment

Risk Level: low — SCIENTIFIC INDUSTRIES 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 segment performance within the 10-Q to understand revenue trends and profitability drivers for Q1 2024.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed Period of Report)
• 2024-05-15 — Filing Date (Filed As Of Date)
• 0000087802 — Central Index Key (SCIENTIFIC INDUSTRIES INC)
• 3826 — SIC Code (Laboratory Analytical Instruments)
• DE — State of Incorporation (SCIENTIFIC INDUSTRIES INC)
• 1231 — Fiscal Year End (SCIENTIFIC INDUSTRIES INC)

Key Players & Entities

• SCIENTIFIC INDUSTRIES INC (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-15 (date) — Filed as of date
• 0000087802 (company) — Central Index Key
• 3826 (industry) — Standard Industrial Classification
• DE (state) — State of incorporation
• 1231 (date) — Fiscal year end
• 1934 Act (regulation) — SEC Act

FAQ

Industry Context

SCIENTIFIC INDUSTRIES INC operates in the Laboratory Analytical Instruments sector, providing essential tools for scientific research and analysis.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Analyze the revenue and profitability by segment for Q1 2024.
2. Review any disclosures regarding significant contracts, intellectual property, or customer relationships.
3. Compare key financial metrics to prior periods to identify trends.

Year-Over-Year Comparison

This filing is the Q1 2024 10-Q, providing an update from the previous filings which would include the prior quarter's 10-Q and the annual 10-K.

Key Financial Figures

• $716,776 — mmon Stock for a total consideration of $716,776. The Company recognized $98,700 of issu
• $98,700 — ion of $716,776. The Company recognized $98,700 of issuance cost, which includes $71,10
• $71,100 — 98,700 of issuance cost, which includes $71,100 attributable to legal and placement age
• $27,600 — e to legal and placement agent fees and $27,600 attributable to the fair value of warra
• $2.00 — of Common Stock at an exercise price of $2.00 per share on substantially the same ter
• $2.50 — rants held by such Existing Investor to $2.50 per share and extend the period in whic

Filing Documents

• scnd_10q.htm (10-Q) — 684KB
• scnd_ex311.htm (EX-31.1) — 9KB
• scnd_ex312.htm (EX-31.2) — 10KB
• scnd_ex321.htm (EX-32.1) — 4KB
• scnd_ex322.htm (EX-32.2) — 4KB
• 0001654954-24-006395.txt (&nbsp;) — 3486KB
• scnd-20240331.xsd (EX-101.SCH) — 32KB
• scnd-20240331_lab.xml (EX-101.LAB) — 189KB
• scnd-20240331_cal.xml (EX-101.CAL) — 44KB
• scnd-20240331_pre.xml (EX-101.PRE) — 153KB
• scnd-20240331_def.xml (EX-101.DEF) — 62KB
• scnd_10q_htm.xml (XML) — 597KB

- Financial Information

PART I - Financial Information Item 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations and Comprehensive Loss 4 Condensed Consolidated Statements of Changes in Shareholders' Equity 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Unaudited 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 14 Item 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 16 Item 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 16

- Other Information

PART II - Other Information Item 1.

Legal Proceedings

Legal Proceedings 17 Item 1A.

Risk Factors

Risk Factors 17 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 17 Item 3. Defaults Upon Senior Securities 17 Item 4. Mine Safety Disclosures 17 Item 5. Other Information 17 Item 6. Exhibits 18 SIGNATURE 19 2 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements SCIENTIFIC INDUSTRIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS March 31, 2024 December 31, 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 351,700 $ 796,100 Investment securities 4,404,800 4,928,700 Trade accounts receivable, less allowance for doubtful accounts of $ 33,600 at March 31, 2024 and December 31, 2023 1,144,900 1,157,100 Inventories 4,868,200 4,883,900 Income tax receivable 161,400 161,400 Prepaid expenses and other current assets 468,800 413,500 Total current assets 11,399,800 12,340,700 Property and equipment, net 1,050,100 1,082,300 Goodwill 115,300 115,300 Other intangible assets, net 1,124,000 1,249,900 Inventories 607,000 609,000 Operating lease right-of-use assets 1,190,900 1,273,900 Other assets 59,400 59,400 Total assets $ 15,546,500 $ 16,730,500 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 767,400 $ 711,700 Accrued expenses 887,400 777,900 Contract liabilities 24,500 23,600 Lease liabilities, current portion 371,100 324,100 Total current liabilities 2,050,400 1,837,300 Lease liabilities, less current portion 877,000 1,007,800 Total liabilities 2,927,400 2,845,100 Shareholders' equity: Common stock, $ 0.05 par value; 30,000,000 shares authorized; 10,503,599 and 10,145,211 , shares issued and 10,503,599 and 10,145,211 , shares outstanding at March 31, 2024 and December 31, 2023 525,200 507,300 Additional paid-in capital 41,672,300 40,844,600 Accumulated other comprehensive gain (loss) ( 41,700 ) 18,600 Accumulated deficit ( 29,536,700 ) ( 27,485,100 ) Total shareholders' equity 12,619,100 13,885,400 Total liabilities and shareholders' equity $ 15,546,500 $ 16,730,500 See notes to unaudited condensed consolidated financial statements. 3 Table of Contents SCIENTIFIC INDUSTRIES, INC. AND SUBSIDI

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View this 10-Q filing on SEC EDGAR