UNITED GUARDIAN INC
For the period ended Jun 30, 2024. Filed Aug 12, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 12, 2024
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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
(Mark One)
| ☑ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended** June 30, 2024 **
| ☐ | TRANSITION REPORT PURSUANT TO 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from ________ to ________
COMMISSION FILE NUMBER:** 1-10526 **
UNITED-GUARDIAN, INC.
(Exact Name of Registrant as Specified in Its Charter)
| Delaware | 11-1719724 |
|---|---|
| (State or Other Jurisdiction of Incorporation or Organization) | (I.R.S. Employer Identification No.) |
230 Marcus Boulevard, Hauppauge, New York 11788
(Address of Principal Executive Offices)
(631)273-0900
(Registrant’s Telephone Number)
N/A
(Former name, former address, and former fiscal year, if changed since last report)
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Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of each exchange on which registered |
|---|---|---|
| Common Stock, $0.10 par value per share | UG | NASDAQ Global Market |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of“large accelerated filer”,“accelerated filer”,“smaller reporting company”, and“emerging growth company”** in Rule 12b-2 of the Exchange Act.**
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
| Non-accelerated filer | ☑ | Smaller reporting company | ☑ |
| Emerging growth company | ☐ | ||
If an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.) Yes☐** No**☑
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:
As of August 1, 2024, the Registrant had issued and outstanding 4,594,319
shares of Common Stock, $.10 par value per share ("Common Stock").
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INDEX TO FINANCIAL STATEMENTS
| PageNo. | |
|---|---|
| Part I. FINANCIAL INFORMATION | |
| Item 1 - Condensed Financial Statements (unaudited unless indicated otherwise) | |
| Statements of Income - Three and Six Months ended June 30, 2024 and 2023 | 2 |
| Balance Sheets – June 30, 2024 (unaudited) and December 31, 2023 (audited) | 3-4 |
| Statements of Changes in Stockholders’ Equity – Three and Six Months ended June 30, 2024 and 2023 | 5 |
| Statements of Cash Flows – Six Months ended June 30, 2024 and 2023 | 6 |
| Notes to Condensed Financial Statements | 7-15 |
| Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations | 15-21 |
| Item 3 - Quantitative and Qualitative Disclosures About Market Risk | 21 |
| Item 4 - Controls and Procedures | 21 |
| Part II. OTHER INFORMATION | |
| Item 1 - Legal Proceedings | 21 |
| Item 1A - Risk Factors | 21 |
| Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds | 21 |
| Item 3 - Defaults Upon Senior Securities | 22 |
| Item 4 - Mine Safety Disclosures | 22 |
| Item 5 - Other Information | 22 |
| Item 6 - Exhibits | 22 |
| Signatures | 22 |
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