SCIENTIFIC INDUSTRIES INC
For the period ended Mar 31, 2025. Filed May 13, 2025.
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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.
Mar 31, 2025 · Filed May 13, 2025
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Condensed Consolidated Balance Sheets
| As of March 31, 2025 | As of December 31, 2024 | |
|---|---|---|
| (Unaudited) | ||
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $470,100 | $587,900 |
| Investment securities | 785,100 | 1,985,000 |
| Trade accounts receivable, less allowance for doubtful accounts of $15,600 at March 31, 2025 and December 31, 2024 | 1,207,000 | 1,202,600 |
| Inventories | 4,354,000 | 4,085,900 |
| Income tax receivable | 73,600 | 73,600 |
| Prepaid expenses and other current assets | 502,300 | 352,700 |
| Total current assets | 7,392,100 | 8,287,700 |
| Property and equipment, net | 899,400 | 885,000 |
| Goodwill | 115,300 | 115,300 |
| Other intangible assets, net | 626,300 | 752,300 |
| Inventories | 542,900 | 509,500 |
| Operating lease right-of-use assets | 935,300 | 947,900 |
| Other assets | 58,800 | 63,100 |
| Total assets | $10,570,100 | $11,560,800 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $973,400 | $586,100 |
| Accrued expenses | 778,200 | 790,100 |
| Contract liabilities | 63,900 | 63,500 |
| Lease liabilities, current portion | 317,300 | 307,300 |
| Total current liabilities | 2,132,800 | 1,747,000 |
| Lease liabilities, less current portion | 669,400 | 694,400 |
| Total liabilities | 2,802,200 | 2,441,400 |
| Shareholders’ equity: | ||
| Common stock, $0.05 par value; 30,000,000 shares authorized; 10,503,599, shares issued and outstanding at March 31, 2025 and December 31, 2024 | 525,200 | 525,200 |
| Additional paid-in capital | 42,940,400 | 42,637,800 |
| Accumulated other comprehensive gain (loss) | 11,300 | (113,100) |
| Accumulated deficit | (35,709,000) | (33,930,500) |
| Total shareholders’ equity | 7,767,900 | 9,119,400 |
| Total liabilities and shareholders’ equity | $10,570,100 | $11,560,800 |
See notes to unaudited condensed consolidated financial statements.
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