Universal Security Instruments Inc. Q3 2025 Financial Update
Ticker: UUU · Form: 10-Q · Filed: Feb 14, 2025 · CIK: 102109
| Field | Detail |
|---|---|
| Company | Universal Security Instruments Inc (UUU) |
| Form Type | 10-Q |
| Filed Date | Feb 14, 2025 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
USUR Q3 2025 10-Q filed. Equity details updated.
AI Summary
Universal Security Instruments Inc. filed its 10-Q for the period ending December 31, 2024. The filing provides financial data for the third quarter of fiscal year 2025, including details on retained earnings and additional paid-in capital as of various dates throughout 2023 and 2024.
Why It Matters
This filing provides investors with a snapshot of Universal Security Instruments Inc.'s financial health and equity structure as of the end of the third quarter of fiscal year 2025.
Risk Assessment
Risk Level: low — The filing is a routine quarterly report and does not indicate any immediate or significant financial distress.
Key Numbers
- Q3 2025 — Fiscal Quarter (Reporting period for the 10-Q filing.)
Key Players & Entities
- UNIVERSAL SECURITY INSTRUMENTS INC (company) — Filer
- 2024-12-31 (date) — Period of Report End Date
- 2025-02-14 (date) — Filing Date
FAQ
What is the company's fiscal year end?
The company's fiscal year ends on March 31.
What is the filing date of this 10-Q?
This 10-Q was filed on February 14, 2025.
What period does this 10-Q cover?
This 10-Q covers the period ending December 31, 2024.
What is the company's SIC code?
The company's Standard Industrial Classification code is 5065 (Wholesale-Electronic Parts & Equipment, NEC).
Where is the company headquartered?
The company is headquartered in Owings Mills, Maryland.
Filing Stats: 4,452 words · 18 min read · ~15 pages · Grade level 15.4 · Accepted 2025-02-14 16:30:57
Filing Documents
- uuu-20241231x10q.htm (10-Q) — 665KB
- uuu-20241231xex31d1.htm (EX-31.1) — 12KB
- uuu-20241231xex31d2.htm (EX-31.2) — 12KB
- uuu-20241231xex32d1.htm (EX-32.1) — 6KB
- 0001410578-25-000141.txt ( ) — 2456KB
- uuu-20241231.xsd (EX-101.SCH) — 23KB
- uuu-20241231_cal.xml (EX-101.CAL) — 26KB
- uuu-20241231_def.xml (EX-101.DEF) — 54KB
- uuu-20241231_lab.xml (EX-101.LAB) — 185KB
- uuu-20241231_pre.xml (EX-101.PRE) — 118KB
- uuu-20241231x10q_htm.xml (XML) — 214KB
- Financial Information
Part I - Financial Information Page Item 1. Condensed Consolidated Financial Statements: Condensed Consolidated Balance Sheets at December 31, 2024 (unaudited) and March 31, 2024 3 Condensed Consolidated Statements of Operations for the Three Months Ended December 31, 2024, and 2023 (unaudited) 4 Condensed Consolidated Statements of Operations for the Nine Months Ended December 31, 2024, and 2023 (unaudited) 5 Condensed Consolidated Statements of Shareholders' Equity for the Nine Months Ended December 31, 2024, (unaudited) 6 Condensed Consolidated Statements of Shareholders' Equity for the Nine Months Ended December 31, 2023, (unaudited) 7 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended December 31, 2024, and 2023 (unaudited) 8 Notes to Condensed Consolidated Financial Statements (unaudited) 9 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 4.
Controls and Procedures
Controls and Procedures 16 Item 5. Other Information 17
- Other Information
Part II - Other Information Item 1.
Legal Proceedings
Legal Proceedings 17 Item 6. Exhibits 17
Signatures
Signatures 19 2 Table of Contents
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS UNIVERSAL SECURITY INSTRUMENTS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS ASSETS (unaudited) (audited) December 31, 2024 March 31, 2024 CURRENT ASSETS Cash $ 58,882 $ 65,081 Accounts receivable: Trade, less provision for credit losses of $ 325,000 535,565 1,101,991 Other receivables 8,000 5,500 Total accounts receivable 543,565 1,107,491 Amount due from factor 2,734,008 2,202,663 Inventories - finished goods net of allowance for excess and obsolete inventories of $ 400,000 at December 31, 2024 and $ 100,000 at March 31, 2024 6,060,327 4,751,826 Prepaid expenses 123,744 226,732 TOTAL CURRENT ASSETS 9,520,526 8,353,793 INTANGIBLE ASSETS - NET 27,947 31,301 PROPERTY AND EQUIPMENT – NET 39,914 159,656 TOTAL ASSETS $ 9,588,387 $ 8,544,750 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES Line of credit - factor $ 1,499,653 $ 768,853 Short-term portion of operating lease liability 53,289 158,742 Accounts payable - trade 891,183 870,323 Accounts payable – Eyston Company, Ltd. 2,540,767 1,501,169 Accrued liabilities: Accrued payroll and employee benefits 148,449 154,878 Accrued commissions and other 293,886 114,428 TOTAL CURRENT LIABILITIES 5,427,227 3,568,393 LONG-TERM PORTION OF OPERATING LEASE LIABILITY — 13,330 TOTAL LONG-TERM LIABILITIES — 13,330 COMMITMENTS AND CONTINGENCIES — — SHAREHOLDERS' EQUITY Common stock, $ .01 par value per share; authorized 20,000,000 shares; 2,312,887 shares issued and outstanding at December 31, 2024 and March 31, 2024 23,129 23,129 Additional paid-in capital 12,885,841 12,885,841 Accumulated Deficit ( 8,747,810 ) ( 7,945,943 ) TOTAL SHAREHOLDERS' EQUITY 4,161,160 4,963,027 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 9,588,387 $ 8,544,750 The accompanying notes are an integral p