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 Operations and Comprehensive Loss
(UNAUDITED)
| For the Three Months Ended September 30, · For the Nine Months Ended September 30, | ||||||||
|---|---|---|---|---|---|---|---|---|
| 2024 · 2023 · 2024 · 2023 | ||||||||
| Revenues | $2,769,100 | $2,585,500 | $7,899,900 | $8,373,400 | ||||
| Cost of revenues | 1,405,900 | 1,404,500 | 4,203,500 | 4,504,400 | ||||
| Gross profit | 1,363,200 | 1,181,000 | 3,696,400 | 3,869,000 | ||||
| Operating expenses: | ||||||||
| General and administrative | 1,019,000 | 896,300 | 3,602,800 | 3,765,500 | ||||
| Selling | 919,600 | 1,614,200 | 2,718,000 | 4,650,800 | ||||
| Research and development | 683,200 | 895,900 | 2,059,900 | 2,371,900 | ||||
| Total operating expenses | 2,621,800 | 3,406,400 | 8,380,700 | 10,788,200 | ||||
| Loss from operations | (1,258,600) | (2,225,400) | (4,684,300) | (6,919,200) | ||||
| Other income: | ||||||||
| Other income, net | 38,400 | 5,300 | 32,100 | 95,700 | ||||
| Interest income | 40,100 | 19,000 | 136,900 | 65,400 | ||||
| Total other income, net | 78,500 | 24,300 | 169,000 | 161,100 | ||||
| Loss from continuing operations before income tax expense | (1,180,100) | (2,201,100) | (4,515,300) | (6,758,100) | ||||
| Income tax expense | - | - | - | 108,800 | ||||
| Loss from continuing operations | (1,180,100) | (2,201,100) | (4,515,300) | (6,866,900) | ||||
| Discontinued operations: | ||||||||
| Gain from discontinued operations, net of tax | $ | - | $ | - | - | 3,300 | ||
| Net loss | $(1,180,100) | (2,201,100) | $(4,515,300) | $(6,863,600) | ||||
| Comprehensive gain (loss): | ||||||||
| Unrealized holding gain on investment securities, net of tax | - | - | - | 1,600 | ||||
| Foreign currency translation (loss) gain | 113,600 | (95,700) | 69,100 | (85,600) | ||||
| Comprehensive gain (loss) | 113,600 | (95,700) | 69,100 | (84,000) | ||||
| Total comprehensive loss | $(1,066,500) | $(2,296,800) | $(4,446,200) | $(6,947,600) | ||||
| Basic and Diluted loss per common share | ||||||||
| Continuing operations | $(0.11) | $(0.31) | $(0.43) | $(0.98) | ||||
| Discontinued operations | $ | - | - | $ | - | $ | - | |
| Consolidated operations | $(0.11) | (0.31) | $(0.43) | $(0.98) | ||||
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