Scientific Industries Earnings 2020-03-31

Balance Sheet	Income Statement	Cash Flow
Assets, Equity	Rev, G Profit, Net Income	Ops, Inv, Fin

10-Q 1 siform10q320.htm QUARTERLY REPORT siform10q320

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒	QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2020

☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ________to________

Commission file number 0-6658

SCIENTIFIC INDUSTRIES, INC.

(Exact Name of Registrant in Its Charter)

Delaware	04-2217279
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

80 Orville Drive, Suite 102, Bohemia, New York	11716
(Address of principal executive offices)	(Zip Code)

(631) 567-4700

(Registrant’s telephone number, including area code)

Not Applicable

(Former name, former address and former fiscal year, if changed since last report)

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 and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted 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 and post such files). ☒ Yes ☐No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐	Accelerated filer ☐
Non-accelerated filer ☐(Do not check if a smaller reporting company)	Smaller reporting company ☒
	Emerging Growth ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act)

Yes☐ No ☒

The number of shares outstanding of the registrant’s common stock, par value $.05 per share (“Common Stock”) as of May 7, 2020 is 1,502,773 shares.

SCIENTIFIC INDUSTRIES, INC.

Table of Contents

PART I - Financial Information

I tem 1.	CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

	Condensed Consolidated Balance Sheets	1

	Condensed Consolidated Statements of Operations	2

	Condensed Consolidated Statements of Comprehensive Income (Loss)	3

	Condensed Consolidated Statements of Changes in Shareholders' Equity	4

	Condensed Consolidated Statements of Cash Flows	6

	Notes to Unaudited Condensed Consolidated Financial Statements	7

Item 2 .	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	17

Item 4.	CONTROLS AND PROCEDURES	20

PART II - Other Information

Item 6.	EXHIBITS AND REPORTS ON FORM 8-K	20

SIGNATURE		21

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements

SCIENTIFIC INDUSTRIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

ASSETS

	March 31, 2020	June 30, 2019
Current assets:	(Unaudited)
Cash and cash equivalents	$739,400	$1,602,500
Investment securities	301,300	330,900
Trade accounts receivable, less allowance for doubtful accounts of $11,600 at March 31, 2020 and $15,000 at June 30, 2019	2,184,200	1,974,200
Inventories	3,044,800	2,592,300
Prepaid expenses and other current assets	80,400	91,200
Total current assets	6,350,100	6,591,100

Property and equipment, net	290,500	318,800

Intangible assets, net	137,400	175,000

Goodwill	705,300	705,300

Other assets	56,000	54,700

Deferred taxes	513,200	431,100

Operating lease right-of-use assets	867,400	-

Total assets	$8,919,900	$8,276,000

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:
Accounts payable	$451,900	$569,000
Accrued expenses and taxes	710,100	608,300
Contract liabilities	116,100	-
Contingent consideration, current portion	360,000	268,000
Bank overdraft	-	140,000
Operating lease liabilities, current portion	64,100	-
Total current liabilities	1,702,200	1,585,300

Operating lease liabilities, less current portion	869,200	-
Contingent consideration, less current portion	318,000	350,000

Total liabilities	2,889,400	1,935,300
Shareholders’ equity:
Common stock, $.05 par value; authorized 7,000,000 shares; issued 1,522,575, and 1,513,914 shares, and 1,502,773 and 1,494,112 shares outstanding at March 31, 2020 and June 30, 2019	76,100	75,700
Additional paid-in capital	2,649,300	2,592,700
Retained earnings	3,357,500	3,724,700
	6,082,900	6,393,100
Less common stock held in treasury at cost, 19,802 shares	52,400	52,400

Total shareholders’ equity	6,030,500	6,340,700

Total liabilities and shareholders’ equity	$8,919,900	$8,276,000

See notes to unaudited condensed consolidated financial statements.

SCIENTIFIC INDUSTRIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

	For the Three Month Period Ended March 31,	For the Three Month Period Ended March 31,	For the Nine Month Period Ended March 31,	For the Nine Month Period Ended March 31,
	2020	2019	2020	2019

Revenues	$2,378,000	$3,053,500	$6,654,500	$7,255,300

Cost of revenues	1,274,700	1,972,400	3,479,300	4,252,700

Gross profit	1,103,300	1,081,100	3,175,200	3,002,600

Operating expenses:
General and administrative	524,800	492,400	1,545,100	1,371,000
Selling	433,800	282,100	1,073,500	766,400
Research and development	298,900	120,900	795,500	347,600
Termination costs	180,700	-	180,700	-

Total operating expenses	1,438,200	895,400	3,594,800	2,485,000

Income (loss) from operations	(334,900)	185,700	(419,600)	517,600

Other income (expense):
Interest income	300	300	10,000	3,100
Other income, net	(41,900)	8,100	(39,700)	600
Interest expense	-	(600)	-	(1,400)

Total other income (expense), net	(41,600)	7,800	(29,700)	2,300


Income (loss) before income tax expense (benefit)	(376,500)	193,500	(449,300)	519,900

Income tax expense (benefit):
Current	-	179,700	-	233,600
Deferred	(61,900)	(79,800)	(82,100)	(67,800)

Total income tax expense (benefit)	(61,900)	99,900	(82,100)	165,800

Net income (loss)	$(314,600)	$93,600	$(367,200)	$354,100

Basic earnings (loss) per common share	$(.21)	$.06	$(.25)	$.24

Diluted earnings (loss) per common share	$(.21)	$.06	$(.25)	$.23

Cash dividends declared per common share	$.00	$.00	$.00	$.05

See notes to unaudited condensed consolidated financial statements.

SCIENTIFIC INDUSTRIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

	For the Three Month Period Ended March 31,	For the Three Month Period Ended March 31	For the Nine Month Period Ended March 31,	For the Nine Month Period Ended March 31,
	2020	2019	2020	2019

Net income (loss)	$(314,600)	$93,600	$(367,200)	$354,100

Other comprehensive income (loss):
Unrealized holding gain (loss) arising during period net of tax	-	7,500	-	(13,500)


Comprehensive income (loss)	$(314,600)	$101,100	$(367,200)	$340,600

See notes to unaudited condensed consolidated financial statements.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (UNAUDITED)

			Additional	Accumulated Other				Total
	Common Stock		Paid-in	Comprehensive	Retained	Treasury Stock		Shareholders’
Fiscal Year 2020	Shares	Amount	Capital	Gain (Loss)	Earnings	Shares	Amount	Equity

Balance, July 1, 2019	1,513,914	$75,700	$2,592,700	$-	$3,724,700	19,802	$52,400	$6,340,700

Net loss	-	-	-	-	(56,200)	-	-	(56,200)

Stock options exercised	2,000	100	6,900	-	-	-	-	7,000

Stock-based compensation	-	-	17,700	-	-	-	-	17,700

Balance, September 30, 2019	1,515,914	75,800	2,617,300	-	3,668,500	19,802	52,400	6,309,200

Net income	-	-	-	-	3,600	-	-	3,600

Stock options exercised	6,661	300	(300)	-	-	-	-	-

Stock-based compensation	-	-	17,700	-	-	-	-	17,700

Balance, December 31, 2019	1,522,575	76,100	2,634,700	-	3,672,100	19,802	52,400	6,330,500

Net loss	-	-	-	-	(314,600)	-	-	(314,600)

Stock-based compensation	-	-	14,600	-	-	-	-	14,600

Balance, March 31, 2020	1,522,575	$76,100	$2,649,300	$-	$3,357,500	19,802	$52,400	$6,030,500

See notes to unaudited condensed consolidated financial statements.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (UNAUDITED)

			Additional	Accumulated Other				Total
	Common Stock		Paid-in	Comprehensive	Retained	Treasury Stock		Shareholders’
Fiscal Year 2019	Shares	Amount	Capital	Gain (Loss)	Earnings	Shares	Amount	Equity

Balance, July 1, 2018	1,513,914	$75,700	$2,545,900	$1,200	$3,131,800	19,802	$52,400	$5,702,200

Cumulative effect of the adoption of	-	-	-	-	22,000	-	-	22,000
ASU 2016-01 – Financial Instruments

Net income	-	-	-	-	142,000	-	-	142,000

Cash dividend declared, $.05	-	-	-	-	(74,700)	-	-	(74,700)

Unrealized holding loss on investment securities, net of tax	-	-	-	(18,100)	-	-	-	(18,100)

Stock-based compensation	-	-	8,700	-	-	-	-	8,700

Balance, September 30, 2018	1,513,914	75,700	2,554,600	(16,900)	3,221,100	19,802	52,400	5,782,100

Net income	-	-	-	-	118,400	-	-	118,400

Unrealized holding loss on investment securities, net of tax	-	-	-	(2,900)	-	-	-	(2,900)

Stock-based compensation	-	-	9,500	-	-	-	-	9,500

Balance, December 31, 2018	1,513,914	75,700	2,564,100	(19,800)	3,339,500	19,802	52,400	5,907,100

Net income	-	-	-	-	93,600	-	-	93,600

Unrealized holding gain on investment securities, net of tax	-	-	-	7,500	-	-	-	7,500

Stock-based compensation	-	-	11,700	-	-	-	-	11,700

Balance, March 31, 2019	1,513,914	$75,700	$2,575,800	$(12,300)	$3,433,100	19,802	$52,400	$6,019,900

See notes to unaudited condensed consolidated financial statements.

SCIENTIFIC INDUSTRIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

	For the Nine Month Period Ended March 31,	For the Nine Month Period Ended March 31,
	2020	2019
Operating activities:
Net income (loss)	$(367,200)	$354,100
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Gain (loss) on sale of investments	(4,000)	5,000
Depreciation and amortization	123,300	218,200
Deferred income tax expense	(82,100)	(70,800)
Unrealized holding (gain) loss on investments	42,700	(4,200)
Gain on sale of fixed assets	(300)	-
Stock-based compensation	50,000	29,900
Change in fair value of contingent consideration	60,000	567,000
Changes in operating assets and liabilities:
Trade accounts receivable	(210,000)	(556,300)
Contract assets	-	101,300
Inventories	(452,500)	(403,400)
Prepaid and other current assets	9,500	(32,300)
Right-of-use- assets	(867,400)	-
Accounts payable	(117,100)	23,400
Lease liabilities	933,300	-
Contract liabilities	116,100	164,000
Accrued expenses and taxes	(38,100)	88,800

Total adjustments	(436,600)	130,600

Net cash (used in) provided by operating activities	(803,800)	484,700

Investing activities:
Proceeds from sale of investment securities	53,600	72,400
Purchase of investment securities	(62,800)	(75,200)
Capital expenditures	(38,100)	(129,600)
Purchase of intangible assets	(20,000)	(21,400)
Proceeds from sale of fixed assets	1,000	-

Net cash used in investing activities	(66,300)	(153,800)

Financing activities:
Line of credit proceeds	-	50,000
Proceeds from exercise of stock options	7,000	-
Cash dividend declared and paid	-	(74,700
Principal payments on notes payable	-	(5,100)

Net cash provided by (used in) financing activities	7,000	(29,800)

Net change in cash and cash equivalents	(863,100)	301,100

Cash and cash equivalents, beginning of year	1,602,500	1,053,100

Cash and cash equivalents, end of period	$739,400	$1,354,200

Cash paid during the period for:
Income taxes	$40,900	$59,200
Interest	-	1,400

See notes to unaudited condensed consolidated financial statements.

SCIENTIFIC INDUSTRIES, INC. AND SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

General:

The accompanying unaudited interim condensed consolidated financial statements are prepared pursuant to the Securities and Exchange Commission’s rules and regulations for reporting on Form 10-Q. Accordingly, certain information and footnotes required by accounting principles generally accepted in the United States for complete financial statements are not included herein. The Company believes all adjustments necessary for a fair presentation of these interim statements have been included and that they are of a normal and recurring nature. These interim statements should be read in conjunction with the Company’s financial statements and notes thereto, included in its Annual Report on Form 10-K, for the fiscal year ended June 30, 2019. The results for the three months and nine months ended March 31, 2020 are not necessarily an indication of the results for the full fiscal year ending June 30, 2020.

1. Summary of Significant Accounting Policies

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of Scientific Industries, Inc., Altamira Instruments, Inc. (“Altamira”), a Delaware corporation and wholly-owned subsidiary, Scientific Bioprocessing, Inc. (“SBI”), a Delaware corporation and wholly-owned subsidiary, and Scientific Packaging Industries, Inc., an inactive wholly-owned subsidiary (all collectively referred to as the “Company”). All material intercompany balances and transactions have been eliminated.

Recent Accounting Pronouncements

In August 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework Changes to the Disclosure Requirements for Fair Value Measurement", which is part of the FASB disclosure framework project to improve the effectiveness of disclosures in the notes to the financial statements. The amendments in the new guidance remove, modify, and add certain disclosure requirements related to fair value measurements covered in Topic 820, "Fair Value Measurement". The new standard is effective for fiscal years beginning after December 15, 2019. Early adoption is permitted for either the entire standard or only the requirements that modify or eliminate the disclosure requirements, with certain requirements applied prospectively, and all other requirements applied retrospectively to all periods presented. The Company is currently evaluating the impact of adopting this guidance.

In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes, which is designed to simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. ASU No. 2019-12 is effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years; this ASU allows for early adoption in any interim period after issuance of the update. The Company is currently evaluating the impact of adopting this guidance.

Adopted Accounting Pronouncements

In February 2016, the FASB issued ASU No. 2016-02, Leases, which replaces previous lease guidance in its entirety with Accounting Standards Codification ("ASC") 842 and requires lessees to recognize lease assets and lease liabilities for those arrangements classified as operating leases under previous guidance, with the exception of leases with a term of twelve months or less. The Company adopted ASU No. 2016-02 on July 1, 2019 using the additional transition method, which allows prior periods to be presented under previous lease accounting guidance. Refer to Note 8, "Leases", for related disclosures.

2. Revenue

The Company records revenues in accordance with ASC Topic 606 “Revenue from Contracts with Customers, as amended” (“ASC Topic 606”). In accordance with ASC Topic 606, the Company accounts for a customer contract when both parties have approved the contract and are committed to perform their respective obligations, each party’s rights can be identified, payment terms can be identified, the contract has commercial substance, and it is probable that the Company will collect substantially all of the consideration to which it is entitled. Revenue is recognized when, or as, performance obligations are satisfied by transferring control of a promised product or service to a customer.

Nature of Products and Services

We generate revenues from the following sources: (1) Benchtop Laboratory Equipment, (2) Catalyst Research Instruments and (3) Royalties.

The following table summarizes the Company’s disaggregation of revenues for the three and nine months ended March 31, 2020 and 2019.

	Benchtop Laboratory Equipment	Catalyst Research Instruments	Bioprocessing Systems	Corporate And Other	Consolidated
Three Months Ended March 31, 2020:

Revenues	$1,800,700	$241,800	$335,500	$-	$2,378,000

Foreign Sales	743,000	236,200	335,000	-	1,314,200

	Benchtop Laboratory Equipment	Catalyst Research Instruments	Bioprocessing Systems	Corporate And Other	Consolidated
Three Months Ended March 31, 2019:
				-
Revenues	$1,732,400	$508,600	$812,500	$-	$3,053,500

Foreign Sales	682,300	346,400	-	-	1,028,700

	Benchtop Laboratory Equipment	Catalyst Research Instruments	Bioprocessing Systems	Corporate And Other	Consolidated
Nine Months Ended March 31, 2020:

Revenues	$5,320,300	$420,000	$914,200	$-	$6,654,500

Foreign Sales	1,996,400	318,100	913,700	-	3,228,200

	Benchtop Laboratory Equipment	Catalyst Research Instruments	Bioprocessing Systems	Corporate And Other	Consolidated
Nine Months Ended March 31, 2019:

Revenues	$5,227,500	$953,200	$1,074,600	$-	$7,255,300

Foreign Sales	2,061,600	711,600	-	-	2,773,200

Benchtop Laboratory Equipment sales are comprised primarily of standard benchtop laboratory equipment from its stock to laboratory equipment distributors, or to end users primarily via e-commerce. The sales cycle from time of receipt of order to shipment is very short varying from a day to a few weeks. Customers either pay by credit card (online sales) or net 30-90, depending on the customer. Once the item is shipped under the FOB terms specified in the order, which is primarily “FOB Factory”, other than a standard warranty, there are no other obligations to the customer. The standard warranty is typically comprised of one to two years of parts and labor and is deemed immaterial.

Catalyst Research Instrument sales are comprised primarily of large instruments which begin with a standard model and then are customized to a customer’s specifications. The sales cycle can be quite long, typically ranging from one to three months, from the time an order is received to the time the instrument is shipped to the customer. Payment terms vary from customer to customer and can include advance payments which are recorded as contract liabilities. Some contracts call for training and installation, which is considered ancillary and not a material part of the contract. Due to the size and nature of the instruments, the Company subjects the instruments to an extensive factory acceptance testing process prior to shipment to ensure that they are fully operational once they reach the customer’s site. Normally, the Company warrantees its instruments for a period of twelve months for parts and labor which normally consists of replacement of small components or software support. Catalyst research instruments are never returned for repairs.

Royalty revenues pertain to royalties earned by the Company, which are paid on a calendar year basis, under a licensing agreement from a single licensee and its sublicenses. The Company is then obligated to pay 50% of all royalties received to the entity that licenses the intellectual property to the Company. During the year, the Company’s management uses its best judgement to estimate the royalty revenues earned during the period.

The Company determines revenue recognition through the following steps:

	●	Identification of the contract, or contracts, with a customer
	●	Identification of the performance obligations in the contract
	●	Determination of the transaction price
	●	Allocation of the transaction price to the performance obligations in the contract
	●	Recognition of revenue when, or as, a performance obligation is satisfied

The Company has made the following accounting policy elections and elected to use certain practical expedients, as permitted by the FASB, in applying ASC Topic 606: 1) all revenues are recorded net of returns, allowances, customer discounts, and incentives; 2) although sales and other taxes are immaterial, the Company accounts for amounts collected from customers for sales and other taxes, if any, net of related amounts remitted to tax authorities; 3) the Company expenses costs to obtain a contract as they are incurred if the expected period of benefit, and therefore the amortization period, is one year or less; 4) the Company accounts for shipping and handling activities that occur after title transfers to the customer as a fulfillment cost rather than an additional promised service and these fulfillment costs fall within selling expenses; 5) the Company is always considered the principal and never an agent, because it has full control and responsibility until title is transferred to the customer; 6) the Company does not assess whether promised goods or services are performance obligations if they are immaterial in the context of the contract with the customer such as is the case with catalyst instruments.

3. Segment Information and Concentrations

The Company views its operations as three segments: the manufacture and marketing of standard benchtop laboratory equipment for research in university, hospital and industrial laboratories sold primarily through laboratory equipment distributors and laboratory and pharmacy balances and scales (“Benchtop Laboratory Equipment Operations”), the manufacture and marketing of custom-made catalyst research instruments for universities, government laboratories, and chemical and petrochemical companies sold on a direct basis (“Catalyst Research Instruments Operations”) and the design and marketing of bioprocessing systems and products and related royalty income (“Bioprocessing Systems”).

Segment information is reported as follows:

	Benchtop Laboratory Equipment	Catalyst Research Instruments	Bioprocessing Systems	Corporate And Other	Consolidated
Three Months Ended March 31, 2020:

Revenues	$1,800,700	$241,800	$335,500	$-	$2,378,000

Foreign Sales	743,000	236,200	335,000	-	1,314,200

Income (Loss) From Operations	138,800	(99,900)	(193,100)	(180,700)	(334,900)


Assets	5,229,700	1,227,900	1,647,800	814,500	8,919,900

Long-Lived Asset Expenditures	4,900	-	11,700	-	16,600

Depreciation and Amortization	29,600	300	11,000	-	40,900

	Benchtop Laboratory Equipment	Catalyst Research Instruments	Bioprocessing Systems	Corporate And Other	Consolidated
Three Months Ended March 31, 2019:

Revenues	$1,732,400	$508,600	$812,500	$-	$3,053,500

Foreign Sales	682,300	346,400	-	-	1,028,700

Income (Loss) From Operations	57,900	(35,200)	163,000	-	185,700

Assets	4,656,600	1,583,100	1,503,100	788,500	8,531,300

Long-Lived Asset Expenditures	132,900	1,000	2,900

Price	4.50	EPS	0
Shares	2	P/E	15
MCap	7	P/FCF	16
Net Debt	-1	EBIT	1
TEV	6	TEV/EBIT	10
TTM 2019-09-30, in MM, except price, ratios

10-Q	2020-03-31	Filed 2020-05-15
10-Q	2019-12-31	Filed 2020-02-13
10-Q	2019-09-30	Filed 2019-11-14
10-K	2019-06-30	Filed 2019-10-04
10-Q	2019-03-31	Filed 2019-05-14
10-Q	2018-12-31	Filed 2019-02-12
10-Q	2018-09-30	Filed 2018-11-13
10-K	2018-06-30	Filed 2018-09-28
10-Q	2018-03-31	Filed 2018-05-15
10-Q	2017-12-31	Filed 2018-02-14
10-Q	2017-09-30	Filed 2017-11-14
10-K	2017-06-30	Filed 2017-09-28
10-Q	2017-03-31	Filed 2017-05-12
10-Q	2016-12-31	Filed 2017-02-10
10-Q	2016-09-30	Filed 2016-11-14
10-K	2016-06-30	Filed 2016-10-11
10-Q	2016-03-31	Filed 2016-05-12
10-Q	2015-12-31	Filed 2016-02-12
10-Q	2015-09-30	Filed 2015-11-12
10-K	2015-06-30	Filed 2015-09-28
10-Q	2015-03-31	Filed 2015-05-14
10-Q	2014-12-31	Filed 2015-02-13
10-Q	2014-09-30	Filed 2014-11-13
10-K	2014-06-30	Filed 2014-09-26
10-Q	2014-03-31	Filed 2014-05-15
10-Q	2013-12-31	Filed 2014-02-13
10-Q	2013-09-30	Filed 2013-11-14
10-K	2013-06-30	Filed 2013-09-27
10-Q	2013-03-31	Filed 2013-05-14
10-Q	2012-12-31	Filed 2013-02-14
10-Q	2012-09-30	Filed 2012-11-14
10-K	2012-06-30	Filed 2012-09-27
10-Q	2012-03-31	Filed 2012-05-15
10-Q	2011-12-31	Filed 2012-02-14
10-Q	2011-09-30	Filed 2011-10-27
10-K	2011-06-30	Filed 2011-09-16
10-Q	2011-03-31	Filed 2011-05-13
10-Q	2010-12-31	Filed 2011-02-11
10-Q	2010-09-30	Filed 2010-11-12
10-K	2010-06-30	Filed 2010-09-27
10-Q	2010-03-31	Filed 2010-05-14
10-Q	2009-12-31	Filed 2010-02-12

8-K	2020-08-10	Amend Bylaw, Exhibits
8-K	2020-07-17	Enter Agreement, Officers, Exhibits
8-K	2020-06-22
8-K	2020-06-18
8-K	2020-04-14
8-K	2020-02-14
8-K	2020-01-29
8-K	2019-12-07
8-K	2019-03-06
8-K	2019-01-23
8-K	2018-09-27
8-K	2018-02-16

EX-31	exhibit31.htm
EX-32	exhibit32.htm

SCND 10Q Quarterly Report

Scientific Industries Earnings 2020-03-31