SCIENTIFIC INDUSTRIES INC
For the period ended Sep 30, 2024. Filed Nov 14, 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.
Sep 30, 2024 · Filed Nov 14, 2024
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Condensed Consolidated Statements of Cash Flows
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
| For the Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating activities: | ||
| Net loss | $(4,515,300) | $(6,863,600) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 565,400 | 566,700 |
| Stock-based compensation | 849,700 | 2,033,000 |
| Provision for bad debt | 2,000 | - |
| Loss on sale of investment securities | 5,300 | 96,500 |
| Unrealized holding gain on investment securities | (44,800) | (147,900) |
| Carrying value of right of use assets | 249,000 | 201,400 |
| Changes in operating assets and liabilities: | ||
| Trade accounts receivable | (192,600) | (20,100) |
| Inventories | 156,800 | (532,400) |
| Prepaid and other current assets | 14,300 | (162,100) |
| Income tax receivable | 87,800 | 108,800 |
| Accounts payable | (93,600) | 175,400 |
| Accrued expenses | (158,600) | 39,700 |
| Contract liabilities | 20,700 | (114,000) |
| Lease liabilities | (250,700) | (203,000) |
| Net cash used in operating activities | (3,304,600) | (4,821,600) |
| Investing activities: | ||
| Purchase of investment securities | (519,100) | (987,000) |
| Redemption of investment securities | 3,025,000 | 4,505,400 |
| Capital expenditures | (76,000) | (117,900) |
| Net cash provided by investing activities | 2,429,900 | 3,400,500 |
| Financing activities: | ||
| Proceeds from issuance of common stock | 716,800 | - |
| Issuance costs of common stock and warrants | (71,100) | - |
| Overdraft | - | 13,300 |
| Net cash provided by financing activities | 645,700 | 13,300 |
| Effect of changes in foreign currency exchange rates on cash and cash equivalents | (3,600) | (3,900) |
| Net decrease in cash and cash equivalents | (232,600) | (1,411,700) |
| Cash and cash equivalents, beginning of period | 796,100 | 1,927,100 |
| Cash and cash equivalents, end of period | $563,500 | $515,400 |
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