10-Q

                   UNITED STATES
	SECURITIES AND EXCHANGE COMMISSION
	     Washington, D.C. 20549

	            FORM 10-Q
(Mark One)
  X   QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For quarterly period ended    December 31, 2012

      TRANSITION REPORT UNDER 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 as specified in its charter)

       Delaware         		  04-2217279
____________________________    ____________________________________
(State or other jurisdiction	(IRS Employer Identification No.)
 of incorporation or
 organization)

70 Orville Drive, 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 whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities
Exchange Act 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 [X]   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_____________   Smaller reporting company [X]
(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as
defined in Rule 12b-2 of the Exchange Act).
                                                  [  ] Yes   [X] No

The number of shares outstanding of the issuer's common stock par
value, $0.05 per share, as of February 4, 2013 was 1,337,663 shares.






                                 TABLE OF CONTENTS



PART I  - FINANCIAL INFORMATION


ITEM 1	CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED):

					                       Page

	Condensed Consolidated Balance Sheets		        1

	Condensed Consolidated Statements of Operations	        2

	Condensed Consolidated Statements of Comprehensive
	Income (Loss)						3

	Condensed Consolidated Statements of Cash Flows	        4

  	Notes to Condensed Consolidated Financial Statements	5

ITEM 2	MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF
        OPERATIONS                                             14

ITEM 4	CONTROLS AND PROCEDURES                                17

PART II - OTHER INFORMATION

ITEM 6	EXHIBITS AND REPORTS ON FORM 8-K                       17

SIGNATURE                                                      18

EXHIBITS                                                       19
























PART I-FINANCIAL INFORMATION
Item 1.  Financial Statements

        SCIENTIFIC INDUSTRIES, INC. AND SUBSIDIARIES
          CONDENSED CONSOLIDATED BALANCE SHEETS

	              ASSETS
                                          December 31,   June 30,
                                             2012          2012
                                          (Unaudited)
                                         _____________  __________
Current Assets:
  Cash and cash equivalents		   $  670,400   $  769,300
  Investment securities			      720,100	   718,300
  Trade accounts receivable, net	      942,800	   623,500
  Inventories				    1,834,700	 1,613,700
  Prepaid expenses and other current assets    86,200	   167,800
  Deferred taxes			       70,300	    70,200
                                           __________   __________
Total current assets			    4,324,500	 3,962,800

Property and equipment at cost, net	      174,000	   180,500

Intangible assets, net  		      822,100	   877,300

Goodwill				      589,900	   589,900

Other assets            		       24,100	    25,700

Deferred taxes				      125,400	   136,000
                                           __________   __________
Total assets                               $6,060,000   $5,772,200
                                           ==========   ==========

	LIABILITIES AND SHAREHOLDERS' EQUITY

Current Liabilities:
  Accounts payable			   $  142,300	$  114,800
  Customer advances			      356,400	    98,500
  Notes payable, current		       77,100	    75,800
  Accrued expenses and taxes		      221,800	   237,500
  Contingent consideration payable, current    19,000	    19,000
                                            _________   __________
 		Total current liabilities     816,600	   545,600

Contingent consideration payable, less
  current portion	                       88,400	    88,400

Notes payable, less current portion	       66,100	   105,000
                                           __________   __________
        Total liabilities		      971,100	   739,000
                                           __________   __________
Shareholders' equity:
  Common stock, $.05 par value; authorized 7,000,000 shares;
    1,357,465 issued and outstanding at
    December 31, 2012 and 1,355,514 at
    June 30, 2012    	                       67,900	    67,800
  Additional paid-in capital                1,975,300	 1,968,700
  Accumulated other comprehensive income
   (loss)                                         300	(   12,600)
  Retained earnings                         3,097,800	 3,061,700
                                          ___________   __________
                                            5,141,300	 5,085,600
  Less common stock held in treasury, at cost,
   19,802 shares                               52,400       52,400
                                          ___________   __________
        Total shareholders' equity          5,088,900	 5,033,200
        Total liabilities and             ___________   __________
           shareholders' equity            $6,060,000   $5,772,200
                                          ===========   ==========



See notes to unaudited condensed consolidated financial statements

                                 1





          SCIENTIFIC INDUSTRIES, INC. AND SUBSIDIARIES
   CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

                            For the Three Month   For the Six Month
                            Periods Ended	  Periods Ended
                            December 31,          December 31,
                         ______________________ ______________________
                             2012       2011       2012        2011
                         __________  __________ __________  __________
Net sales                $1,876,900  $1,197,600 $3,228,600  $2,738,500
Cost of sales		  1,046,600     707,200  1,934,000   1,644,200
                         __________  __________ __________  __________
Gross profit                830,300     490,400  1,294,600   1,094,300
                         __________  __________ __________  __________
Operating Expenses:
 General & administrative   309,600     335,100    589,200     626,100
 Selling                    191,100     160,100    347,400     349,000
 Research & development     135,100      78,700    255,200     125,500
                         __________  __________ __________  __________
  Total operating
  expenses  		    635,800     573,900  1,191,800   1,100,600
                         __________  __________ __________  __________
Income (loss) from
 operations   		    194,500 (    83,500)   102,800  (    6,300)
                         __________  __________ __________  __________
Other income (expense):
 Investment income	      3,100       3,500      5,900       7,100
 Other			  (   1,600)      2,700	       900	 5,900
 Interest expense	  (   1,300)(     1,200) (   2,700) (    1,200)
                         __________  __________ __________  __________

  Total other income	        200       5,000      4,100      11,800
                         __________  __________ __________  __________
Income (loss) before
 income taxes (benefit)     194,700 (    78,500)   106,900       5,500
                         __________  __________ __________  __________
Income tax expense (benefit):
  Current		     51,800 (    21,800)    21,200 (       500)
  Deferred		      4,500 (     1,400)     9,500       2,000
                         __________  __________ __________  __________
Total income (loss) tax
  expense (benefit)	     56,300 (    23,200)    30,700       1,500
                         __________  __________ __________  __________
Net income (loss)        $  138,400 ($   55,300)$   76,200  $    4,000
                         ==========  ========== ==========  ==========

Basic earnings (loss) per common
 share	                 $  .10      $  (.04)	$  .06	    $  .00

Diluted earnings (loss) per common
 share  		 $  .10      $  (.04) 	$  .06	    $  .00

Cash dividends declared
 per common share	 $  .00	     $   .00	$  .03      $  .05

See notes to unaudited condensed consolidated financial statements


                                2





           SCIENTIFIC INDUSTRIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)




				For the Three Month  For the Six Month
				Periods Ended	     Periods Ended
				December 31,	     December 31,
                                ___________________  _________________
				  2012	   2011  	2012     2011
                                ________ __________  ________  _______

Net income (loss)		$138,400 ($ 55,300)  $ 76,200	 4,000

Other comprehensive income:
  Unrealized holding gain
  arising during period,
  net of tax			   3,300     2,300     12,900    1,400
                                ________  ________   ________  _______
Comprehensive income (loss)	$141,700 ($ 53,000)  $ 89,100  $ 5,400
                                ========  ========   ========  =======





   See notes to unaudited condensed consolidated financial statements



                                    3






       SCIENTIFIC INDUSTRIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

                                 	  For the Six Month Periods Ended
                                               December 31,  December 31,
                                               __________________________
                                                    2012        2011
                                                  _________  _________
Operating activities:
  Net income					  $  76,200  $   4,000
                                                  _________  _________
  Adjustments to reconcile net income
   to net cash provided by (used in) operating activities:
      Loss on sale of investments		      4,800	   -
      Depreciation and amortization		     89,000	 99,300
      Deferred income tax			      9,500       2,000
      Stock-based compensation			      6,700	  1,000
       Changes in operating assets and liabilities:
         Accounts receivable			 (  319,300) (   40,100)
         Inventories		      	         (  221,000) (  315,600)
         Prepaid expenses and other current assets   81,600	 20,000
         Accounts payable                            27,500	112,900
         Customer advances		            257,900     326,900
         Accrued expenses and taxes          	 (   15,700) (   23,200)
         Other assets				      1,600        -
                                                 ___________ ___________
       Total adjustments	        	 (   77,400)    183,200
                                                 ___________ ___________
       Net cash provided by (used in)
         operating activities			 (    1,200)	187,200
                                                 ___________ ___________
Investing activities:
  Intangible assets acquired in acquisition	       -     (  260,000)
  Purchase of investment securities,
    available-for-sale				 (  710,300) (    5,500)
  Capital expenditures				 (   25,200) (   61,900)
  Purchase of intangible assets, other		 (    2,100) (    1,600)
  Redemption of investment securities, available
    for sale					    717,600	   -
                                                 ___________ ___________
       Net cash used in investing activities	 (   20,000) (  329,000)
                                                 ___________ ___________
Financing activities:
 Line of credit proceeds			       -	 60,000
 Proceeds from exercise of stock options	       -	  9,600
 Cash dividend declared and paid		 (   40,100) (   59,900)
 Principal payments on note payable		 (   37,600) (   12,200)
                                                 ___________ ___________
	 Net cash used in financing activities	 (   77,700) (    2,500)
                                                 ___________ ___________
Net decrease in cash
 and cash equivalents				 (   98,900) (  144,300)

Cash and cash equivalents, beginning of year	    769,300     907,800
                                                 ___________ ___________
Cash and cash equivalents, end of period	 $  670,400  $  763,500
                                                 =========== ===========
Supplemental disclosures:
Cash paid during the period for:
 Income taxes				 	 $     -     $    3,300
 Interest					      2,700        -


See notes to unaudited condensed consolidated financial statements

                                 4




       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, 2012.  The results for the three
and six months ended December 31, 2012, are not necessarily
an indication of the results for the full fiscal year ending
June 30, 2013.

1.	Summary of significant accounting policies:

	Principles of consolidation:

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

2.	New Accounting Pronouncements:



In July 2012, the Financial Accounting Standards Board ("FASB")
issued Accounting Standards Update No. 2012-02, "Testing Indefinite-
Lived Intangible Assets for Impairment" ("ASU No. 2012-02"), which
allows entities to use a qualitative approach to test indefinite-
lived intangible assets for impairment.  ASU No. 2012-02 permits an
entity to first assess qualitative factors to determine whether it is
more likely than not that the fair value of the indefinite-lived
intangible asset is less than its carrying value.  If it is concluded
that this is the case, it is necessary to perform the currently
prescribed quantitative impairment test.  Otherwise, the quantitative
impairment test is not required.  ASU No. 2012-02 is effective for
annual and interim impairment tests performed for fiscal years
beginning after September 15, 2012.  The adoption of the provisions
of ASU No. 2012-02 is not expected to have a material impact on the
Company's financial position or results of operations.






                                 5

3.  Acquisition:

On November 14, 2011, the Company through SBI acquired substantially
all of the assets of a privately owned company consisting principally
of a license and sublicenses under patents held by the University of
Maryland, Baltimore County ("UMBC?) with respect to the design,
development and production of bioprocessing methods, systems and
products. The acquisition was pursuant to an asset purchase
agreement("APA") whereby the Company paid to the seller $260,000 in
cash, issued 135,135 shares of Common Stock valued at $400,000,
issued to UMBC a $230,000 36-month note payable, and agreed to make
additional cash payments equal to 30% of net royalties received under
the acquired license and sublicenses, estimated at a present value of
$128,000 on the date of acquisition.

SBI's revenues are derived from royalties received by SBI under the
various sublicense agreements, net of royalty payments due to UMBC
and revenues from sales of certain products being developed
under its existing license.  University, government, and industrial
laboratories working primarily in the biotechnology industry
worldwide are its targeted customers.

Management of the Company allocated the purchase price based on its
valuation of the assets acquired, all of which are intangible, as
follows:

         Technology, trademarks, and in-process
         research & development ("IPR&D")               $  500,000
         Sublicense agreements				   294,000
         Engineering drawings and software 		    64,000
         Non-competition agreements			    18,000
         Goodwill*					   142,000
                                                        __________
         Total Purchase Price				$1,018,000
                                                        ==========

         *See Note 8, "Goodwill and Other Intangible Assets".

The amounts allocated to Technology, Trademarks, and IPR&D and
Sublicense Agreements are deemed to have a useful life of 10 years,
and to the remaining intangible assets to have a useful life of 5
years, all of which are being amortized on a straight-line basis,
except for goodwill.

In connection with the acquisition, SBI entered into a research and
development agreement providing for the seller to perform services
with respect to the research and development of bioprocessing
methods, systems, and products pursuant to programs set forth in the
Agreement at a fee of $14,000 per month with SBI to bear all related
expenses.  The agreement is for a two-year term with SBI having three
one-year extension options.  SBI has the right to terminate the
agreement in the event of a failure to achieve the designated product
development terms set forth in the agreement.




                                    6




Pro forma results

The unaudited pro forma condensed consolidated financial information
in the table below summarizes the consolidated results of operations
of Scientific, Altamira and SBI on a pro forma basis, as though the
companies had been consolidated as of July 1, 2011 (the beginning of
the prior periods presented).  The unaudited pro forma condensed
financial information presented below is for informational purposes
only and is not intended to represent or be indicative of the
consolidated results of the operations that would have been achieved
if the acquisition had been completed as of the commencement of the
period presented.


			     For the Three Month  For the Six Month
			     Period Ended	  Period Ended
			     December 31,         December 31,
                             ___________________  __________________
	      			 2011                 2011
                             ___________________  __________________
       Net sales	     $1,235,100	          $2,813,500

       Net income (loss)    ($   40,700)          $    6,300

       Net income (loss)
        per share - basic	  ($.03)	        $.00

       Net income (loss)
 	per share - diluted       ($.03)                $.00


4.   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 ("Benchtop Laboratory
Equipment"), 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") and the marketing and production
of bioprocessing systems for laboratory research in the
biotechnology industry sold directly to customers and through
distributors ("Bioprocessing Systems").






                                 7



Segment information is reported as follows (foreign sales are
principally to customers in Europe and Asia):

               Benchtop    Catalyst     Bio-       Corporate
               Laboratory  Research     processing and       Conso-
               Equipment   Instruments  Systems    Other     lidated
               __________  ___________  __________ _________ ___________
Three months ended December 31, 2012:

 Net Sales     $1,164,900  $  664,900   $   47,100  $    -   $1,876,900
 Foreign Sales	  747,900     279,800         -          -    1,027,700
 Profit(Loss)     157,200      68,200  (    30,900)      -      194,500
 Assets     	2,485,700   1,695,400      963,100    915,800 6,060,000
 Long-Lived Asset
    Expenditures    7,100         700          -         -        7,800
 Depreciation and
    Amortization   11,500       9,200       24,000       -       44,700


               Benchtop    Catalyst     Bio-       Corporate
               Laboratory  Research     processing and       Conso-
               Equipment   Instruments  Systems    Other     lidated
               __________  ___________  __________ _________ ___________
Three months ended December 31, 2011:

Net Sales     $1,108,500  $   89,100  $     -    $      -     $1,197,600
Foreign Sales    755,100       8,400        -	        -	 763,500
Profit(Loss)     100,200  (  117,800) (   32,300)  (  33,600) (   83,500)
Assets         2,467,600   1,375,700      866,600  1,481,800   6,191,700
Long-Lived Asset
  Expenditures     4,500       2,800      876,000       -        883,300
Depreciation and
  Amortization    12,300      27,800       12,000       -         52,100


Approximately 73% and 63% of net sales of benchtop laboratory equipment
(46% and 59% of total net sales) for the three month periods ended
December 31, 2012 and 2011, respectively, were derived from the Company's
main product, the Vortex-Genie 2(R) mixer, excluding accessories.

Two customers accounted in the aggregate for approximately 24% and 26%
of the net sales of the Benchtop Laboratory Equipment Operations and 15%
and 24% of total net sales for the three months ended December 31, 2012,
and 2011, respectively.  Sales of catalyst research instruments generally
comprise a few very large orders averaging at least $100,000 per order
to a limited number of customers, who differ from order to order.  Sales
to four customers and one customer represented approximately 95% and 73%
of the Catalyst Research Instrument Operations' net sales, respectively,
and 34% and 25% of total net sales for the three months ended
December 31, 2012 and 2011, respectively.







                                      8




               Benchtop    Catalyst     Bio-       Corporate
               Laboratory  Research     processing and       Conso-
               Equipment   Instruments  Systems    Other     lidated
               __________  ___________  __________ _________ ___________
Six months ended December 30, 2012:

 Net Sales     $2,229,700  $  949,200   $   49,700  $    -   $3,228,600
 Foreign Sales	1,369,600     519,000         -          -    1,888,600
 Profit(Loss)     274,800 (    66,100)  (  105,900)      -      102,800
 Assets     	2,485,700   1,695,400      963,100    915,800 6,060,000
 Long-Lived Asset
    Expenditures    9,200      18,100          -         -       27,300
 Depreciation and
    Amortization   22,600      18,500       47,900       -       89,000


                Benchtop    Catalyst     Bio-       Corporate
                Laboratory  Research     processing and       Conso-
                Equipment   Instruments  Systems    Other     lidated
                __________  ___________  __________ _________ __________
Six months ended December 31, 2011:

Net Sales      $2,183,600  $  554,900  $    -     $    -    $2,738,500
Foreign Sales	1,363,700     121,100       -	       -     1,484,800
Profit(Loss)      260,600  (  176,400) (  32,300) (  58,200) (   6,300)
Assets	        2,467,600   1,375,700    866,600  1,481,800  6,191,700
Long-Lived Asset
   Expenditures	   14,000      49,500    876,000       -       939,500
Depreciation and
   Amortization    24,300      63,000     12,000       -        99,300


Approximately 68% and 63% of net sales of benchtop laboratory equipment
(47% and 50% of total net sales) for the six month periods ended December
31, 2012 and 2011, respectively, were derived from the segment's main
product, the Vortex-Genie 2(R) mixer, excluding accessories.

Two benchtop laboratory equipment customers, accounted in the aggregate
for approximately 23% of the segment's net sales for each of the two
comparative periods and  16% and 19%, respectively, of total net sales
for the six month periods ended December 31, 2012 and 2011.

Sales of catalyst research instruments to four different customers in
each of the six month periods, accounted for approximately 67% and 88%
of the segment's net sales and 20% and 18% of total net sales for the
six month period ended December 31, 2012 and 2011, respectively.








			    9




 5.	Fair Value of Financial Instruments:

The FASB defines the fair value of financial instruments as the amount
that would be received to sell an asset or paid to transfer a liability
in an orderly transaction between market participants at the measurement
date.  Fair value measurements do not include transaction costs.

The accounting guidance also expands the disclosure requirements around
fair value and establishes a fair value hierarchy of valuation inputs.
The hierarchy prioritizes the inputs into three levels based on the extent
to which inputs used in measuring fair value are observable in the market.
Each fair value measurement is reported in one of the three levels, which
is determined by the lowest level input that is significant to the fair
value measurement in its entirety.  These levels are described below:

	Level 1	Inputs that are based upon unadjusted quoted prices for
                identical instruments traded in active markets.

	Level 2	Quoted prices in markets that are not considered to be
                active or financial instruments for which all significant
                inputs are observable, either directly or indirectly.

        Level 3 Prices or valuation that require inputs that are both
                significant to the fair value measurement and
                unobservable.

The following tables set forth by level within the fair value hierarchy
the Company's financial assets that were accounted for at fair value on a
recurring basis at December 31, 2012 and June 30, 2012 according to the
valuation techniques the Company used to determine their fair values:

                                   Fair Value Measurements Using Inputs
                                                  Considered as

Assets:
                          Fair Value at
                          December 31, 2012  Level 1    Level 2  Level 3
                          _________________  __________ _______  _______

Cash and cash equivalents	$  670,400  $  670,400  $  -     $  -
Available for sale securities      720,100     720,100     -        -
                                __________  __________  _______  ________
Total			        $1,390,500  $1,390,500  $  -     $  -
                                ==========  ==========  =======  ========
Liabilities:

Contingent consideration        $  107,400  $    -      $  -   	 $107,400
                                ==========  ==========  =======  ========

                                      Fair Value Measurements Using Inputs
                                                  Considered as

Assets:
                          Fair Value at
                          JUne 30, 2012      Level 1    Level 2  Level 3
                          _________________  __________ _______  _______

Cash and cash equivalents	$  769,300  $  769,300  $  -     $  -
Available for sale securities      718,300     718,300     -        -
                                __________  __________  _______  ________
Total			        $1,487,600  $1,487,600  $  -     $  -
                                ==========  ==========  =======  ========
Liabilities:

Contingent consideration        $  107,400  $    -      $  -   	 $107,400
                                ==========  ==========  =======  ========


                                     10




Investments in marketable securities classified as available-for-sale by
security type at December 31, 2012 and June 30, 2012 consisted of the
following:
                                                      Unrealized
                                           Fair	       Holding Gain
                            Cost  	   Value  	  (Loss)
                        _________       _________     _____________
At December 31, 2012:
   Available for sale:
   Equity securities	$  31,800	$  31,100     $  (   700)
   Mutual funds		  688,000	  689,000	   1,000
                        _________       _________     ___________
                        $ 719,800	$ 720,100     $      300
                        =========       =========     ===========

                                                       Unrealized
                                           Fair	       Holding Gain
                            Cost  	   Value  	  (Loss)
                        _________       _________     _____________

At June 30, 2012:
   Available for sale:
   Equity securities	$   5,900	$  16,000     $    10,100
   Mutual funds		  725,000	  702,300	  (22,700)
                        _________       _________     ____________
                        $ 730,900	$ 718,300     $   (12,600)
                        =========       =========     ============

6.	Inventories:

Inventories for financial statement purposes are based on perpetual
inventory records at December 31, 2012 and based on a physical count
as of June 30, 2012.  Components of inventory are as follows:

			 December 31,  	 June 30,
			     2012   	   2012
                         ____________    __________
   Raw Materials         $1,297,300	 $1,146,800
   Work in process          369,900    	    221,900
   Finished Goods           167,500	    245,000
                         __________      __________
			 $1,834,700	 $1,613,700
                         ==========      ==========

7.   Earnings (Loss) per common share:

Basic earnings (loss) per common share are computed by dividing net
income or loss by the weighted-average number of shares outstanding.
Diluted earnings per common share include the dilutive effect of
stock options, if any.





                               11




Earnings (Loss) per common share was computed as follows:

             		   For the Three Month	   For the Six Month
             		   Periods Ended	   Period Ended
                           December 31,            December 31,
                           _______________________ ____________________
			      2012         2011      2012       2011

Net income (loss)	   $   138,400 ($  55,300) $  76,200 $    4,000
                           =========== =========== ========= ==========
Weighted average common
  shares outstanding   	     1,337,175  1,265,613  1,336,444  1,231,095
Dilutive  securities	         3,765	     -	       4,463     14,873
                           ___________ ___________ _________ __________
Weighted average dilutive
  common shares outstanding  1,340,940  1,265,613  1,340,907  1,245,968
                           =========== ==========  ========= ==========
Basic earnings (loss) per
  common share		   $       .10 ($     .04) $     .06 $      .00
                           =========== ==========  ========= ==========
Diluted earnings (loss) per
  common share		   $       .10 ($     .04) $     .06 $      .00
                           =========== ==========  ========= ==========

Approximately 40,000 shares of the Company's common stock issuable upon
the exercise of outstanding options were excluded from the calculation of
diluted earnings per common share for each of the three and six month
periods ended December 31, 2012, because the effect would be anti-dilutive.

Approximately 57,000 and 2,000 shares of the Company's Common Stock
issuable upon the exercise of outstanding stock options were excluded from
the calculation of diluted earnings per common share for the three and six
month periods ended December 31, 2011, because the effect would be anti-
dilutive.

8.   Goodwill and Other Intangible Assets:

Goodwill represents the excess of the purchase price over the fair value
of the net assets acquired in connection with the Company's acquisition of
Altamira and SBI's acquisition of assets.  Goodwill amounted to $589,900
as of December 31, 2012 and June 30, 2012, all of which is deductible for
tax purposes.

 The components of other intangible assets are as follows:


			  Useful              Accumulated
			  Lives      Cost     Amortization    Net
                          ______   _________  ____________ _________
 At December 31, 2012:

 Technology, trademarks  5/10 yrs. $ 864,000  $   370,600  $ 493,400
 Customer relationships   10 yrs.    237,000      198,400     38,600
 Sublicense agreements    10 yrs.    294,000       33,100    260,900
 Non-compete agreements    5 yrs.    120,000      106,000     14,000
 Other intangible assets   5 yrs.    146,000      130,800     15,200
                                  __________  ___________  _________
	  			  $1,661,000  $   838,900  $ 822,100
                                  ==========  ===========  =========



                                     12



			 Useful                Accumulated
			 Lives      Cost       Amortization  Net
                         ________   _________  ____________  _________

 At June 30, 2012:

 Technology, trademarks  5/10 yrs.  $ 864,000  $  339,300    $ 524,700
 Customer relationships   10 yrs.     237,000 	  192,100       44,900
 Sublicense agreements    10 yrs.     294,000      18,400      275,600
 Non-compete agreements    5 yrs.     120,000     104,300       15,700
 Other intangible assets   5 yrs.     143,900     127,500       16,400
                                   __________  __________   __________
	  			   $1,658,900  $  781,600    $ 877,300
                                   ==========  ==========   ==========

Total amortization expense was $28,600 and $33,000 for the three months
ended December 31, 2012 and 2011, respectively and $57,400 and $61,300
for the six months ended December 31, 2012 and 2011, respectively.  As
of December 31, 2012, estimated future amortization expense related to
intangible assets is $56,900 for the remainder of the fiscal year ending
June 30, 2013, $108,800 for fiscal 2014, $105,200 for fiscal 2015,
$109,400 for fiscal 2016, $93,800 for fiscal 2017, and $348,000
thereafter.





				13





       SCIENTIFIC INDUSTRIES, INC. AND SUBSIDIARIES


Item 2. Management's Discussion and Analysis or Plan of Operations

Certain statements contained in this report are not based on historical
facts, but are forward-looking statements that are based upon various
assumptions about future conditions.  Actual events in the future could
differ materially from those described in the forward-looking information.
Numerous unknown factors and future events could cause such differences,
including but not limited to, product demand, market acceptance, impact
of competition, the ability to reach final agreements, the ability to
finance and produce to customers? specifications catalyst research
instruments, and to develop marketable bioprocessing systems, adverse
economic conditions, and other factors affecting the Company's business
that are beyond the Company?s control.  Consequently, no forward-looking
statement can be guaranteed.

We undertake no obligation to publicly update forward-looking
statements, whether as a result of new information, future events or
otherwise.



Liquidity and Capital Resources

Cash and cash equivalents decreased by $98,900 to $670,400 as of
December 31, 2012 from $769,300 as of June 30, 2012.

Net cash used in operating activities was $1,200 for the six months
ended December 31, 2012 as compared to $187,200 provided by operating
activities for the comparable six month period in 2011, due mainly to
higher accounts receivable balances outstanding in the current year
period compared to the prior period.  Cash used in investing activities
was $20,000 for the six month period ended December 31, 2012 compared
to $329,000 for the six month period ended December 31, 2011, due to
the acquisition by SBI of intangible assets in the prior year period.
The Company reflected cash used in financing activities of $77,700 in
the current year period compared to only $2,000 in the prior year
comparable period, because of cash received last year under the line
of credit.

On September 21, 2012, the Board of Directors of the Company declared
a cash dividend of $.03 per share of Common Stock payable on November 1,
2012 to holders of record as of the close of business on October 1, 2012
as compared to $.05 per share paid in the prior fiscal year period.

The Company's working capital increased by $90,700 to $3,507,900 as of
December 31, 2012 from working capital of $3,417,200 at June 30, 2012,
mainly due to the income for the period.

The Company has a line of credit with its bank, JPMorgan Chase Bank,
N.A. which provides for maximum borrowings of up to $700,000, bearing
interest at 3.08 percentage points above a defined LIBOR Index. The
interest rate as of December 31, 2012 was approximately 3.32% and any
borrowing is to be secured by a pledge of collateral consisting of
the inventory, accounts, chattel paper, equipment and general
intangibles of the Company.  Outstanding amounts are due and payable
by June 13, 2013 with a requirement that the Company is to reduce the
outstanding principal balance to zero during the 30 day period ending
on the anniversary date of the promissory note.  As of December 31,
2012 and June 30, 2012, no borrowings under the line were outstanding.



				14





Management believes that the Company will be able to meet its cash
flow needs during the next 12 months from its available financial
resources which include its cash and investment securities.


Results of Operations

Financial Overview

The Company recorded income before income taxes of $194,700 and
$106,900 for the three and six month periods ended December 31, 2012,
respectively, compared to a loss before income tax benefit of $78,500
for the year earlier three month period and income before income tax
of $5,500 for the year earlier six month period, primarily as a
result of higher income derived from increased sales of catalyst
research instruments and benchtop laboratory equipment products.

The Three Months Ended December 31, 2012 Compared With the Three
Months Ended December 31, 2011

Net sales for the three months ended December 31, 2012 increased
by $679,300 (56.7%) to $1,876,900 from $1,197,600 for the three
months ended December 31, 2011 as a result of increased sales of
$575,800 by the Catalyst Research Instruments Operations and of
$56,400 by the Laboratory Equipment Operations, and a $47,100
increase in revenues, mainly royalties of the Bioprocessing
Systems Operations. Sales of the benchtop laboratory equipment
products generally are pursuant to many small purchase orders
from distributors, while catalyst research instruments are sold
pursuant to a small number of larger orders, typically averaging
over $100,000 each, resulting in significant swings in revenues.
The backlog of orders for catalyst research instruments was
$1,452,300 as of December 31, 2012, all of which are anticipated
to be delivered by fiscal year end; the back log as of December
31, 2011 was $995,000.

The Company's gross profit percentage for the three months ended
December 31, 2012 increased to 44.2% from 40.9% for the year earlier
three month period primarily as a result of increased catalyst
research instrument sales and lower overhead costs for the Benchtop
Laboratory Equipment Operations.

General and administrative expenses for the three month comparative
periods ended December 31, 2012 and December 31, 2011 decreased by
$25,500 (7.6%) to $309,600 from $335,100 primarily due to the
expenses related to the asset acquisition by SBI incurred in the
prior year period.

Selling expenses for the three months ended December 31, 2012
increased by $31,000 (19.4%) to $191,100 from $160,100 for the three
months ended December 31, 2011, primarily the result of commissions
paid with respect to the increase in catalyst research instruments
sales.

Research and development expenses for the three months ended December
31, 2012 increased $56,400 (71.7%) to $135,100 from $78,700 for the
three months ended December 31, 2011, primarily the result of
increased product development activity by the Company's Benchtop
Laboratory Equipment Operations and new product development by the
Bioprocessing Systems Operations.

As a result of the $194,700 income before income taxes for the three
months ended December 31, 2012, compared to a $78,500 loss before
income tax benefit for the three months ended December 31, 2011,  the
Company recorded income tax expense of $56,300 compared to income
tax benefit of $23,200 for the three months ended December 31, 2011.


				15





The Six Months Ended December 31, 2012 Compared With the Six Months
Ended December 31, 2011

Net sales for the six months ended December 31, 2012 increased by
$490,100 (17.9%) to $3,228,600 compared to $2,738,500 for the six
months ended December 31, 2011, due to increases of $394,300 in
catalyst research instrument sales and $46,100 in benchtop laboratory
equipment sales, and an increase of $49,700 in revenues, mainly
royalties, of the Bioprocessing Systems Operations.  Sales of
benchtop laboratory equipment products generally are comprised of
many small purchase orders from distributors, while sales of
catalyst research instruments are comprised of a small number of
large orders, typically averaging over $100,000 each, resulting in
significant swings in revenues.  The backlog of orders for catalyst
research instruments was $1,452,300 as of December 31, 2012, all of
which are anticipated to be delivered by fiscal year end; the
backlog as of December 31, 2011 was $995,000.

General and Administrative expenses decreased by $36,900 (5.9%) to
$589,200 for the six months ended December 31, 2012 from $626,100
for the comparable period of the prior year, primarily due to the
expenses related to SBI's asset acquisition in November 2011,
partially offset by the related amortization expenses in the
current year by the Bioprocessing Systems Operations.

Research and development expenses for the six months ended
December 31, 2012 increased $129,700 (103.3%) to $255,200 compared
to $125,500 for the six months ended December 31, 2011, due to
increased new product development activity by the Company's
Benchtop Laboratory Equipment Operations and new product development
by the Bioprocessing Systems Operations.

Total other income for the six month period ended December 31, 2012
decreased by $7,700 to $4,100 from $11,800 for the six month period
ended December 31, 2011, mainly due to interest expense incurred by
the Bioprocessing Systems Operations and losses on sales of investment
securities.

As a result of the foregoing, income tax expense for the six month
period ended December 31, 2012 was $30,700 compared to $1,500 for the
comparable period of the prior fiscal year, and net income for the
six months ended December 31, 2012 was $76,200 compared to $4,000 for
the six months ended December 31, 2011.








				16





Item 4.  Controls and Procedures

Evaluation of Disclosure Controls and Procedures.  As of the end of the
period covered by this report, based on an evaluation of the Company's
disclosure controls and procedures (as defined in Rules 13a-15(e) and
15d-15(e) under the Securities Exchange Act of 1934), the Chief Executive
and Chief Financial Officer of the Company has concluded that the Company's
disclosure controls and procedures are effective to ensure that information
required to be disclosed by the Company in its Exchange Act reports is
recorded, processed, summarized and reported within the applicable time
periods specified by the SEC's rules and forms. The Company also concluded
that information required to be disclosed in such reports is accumulated
and communicated to the Company's management, including its principal
executive and principal financial officer, as appropriate to allow
timely decisions regarding required disclosure.

Changes in Internal Control Over Financial Reporting. There was no change in
the Company's internal controls over financial reporting that occurred during
the most recently completed fiscal quarter that materially affected or is
reasonably likely to materially affect the Company's internal controls over
financial reporting.


Part II - OTHER INFORMATION


Item 6.  Exhibits and Reports on Form 8-K

	(a) Exhibit Number:	Description

	  10(k)-1  Lease agreement between Altamira Instruments, Inc. and
                   Allegheny Homes, LLC with respect to the Company's
                   Pittsburgh, Pennsylvania facilities.

          31.1	   Certification of Chief Executive Officer and Chief
                   Financial Officer pursuant to Section 302 of the
                   Sarbanes-Oxley Act of 2002.

	  32.1	   Certification of Chief Executive Officer and Chief
                   Financial Officer pursuant to Section 906 of the
                   Sarbanes-Oxley Act of 2002.



	(b) Reports on Form 8-K:

            Report dated December 4, 2012 reporting under Item
            1.01.













                                   17





		SCIENTIFIC INDUSTRIES, INC. AND SUBSIDIARIES



                              SIGNATURE



In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.




                              Scientific Industries, Inc.
                              Registrant



			      /s/ Helena R. Santos
                              ____________________
                              Helena R. Santos
                              President, Chief Executive Officer
                              and Treasurer
                              Principal Executive, Financial and
                              Accounting Officer

Date: February 14, 2013






                                   18

EX-32

						Exhibit 32.1



                          CERTIFICATION

The undersigned as Chief Executive Officer and Chief Financial Officer
of the Company, does hereby certify that the foregoing Quarterly Report
of SCIENTIFIC INDUSTRIES, INC. (the "Company"), on Form 10-Q for the period
ended December 31, 2012:

	(1)	Fully complies with the requirements of Section 13 or 15
(d) of the Securities Exchange Act of 1934; and

	(2)	Fairly presents, in all material respects, the financial
condition and results of operations of the Company.





February 14, 2013



/s/ Helena R. Santos
____________________
Helena R. Santos
Chief Executive Officer and Chief Financial Officer



A signed original of this written statement required by Section 906 has
been provided to the Company and will be retained by the Company and furnished
to the Securities and Exchange Commission or its staff upon request.

EX-31

						Exhibit 31.1

                          CERTIFICATION

I, Helena R. Santos, certify that:

1.	I have reviewed this report on Form 10-Q for the quarter
ended December 31, 2012 of Scientific Industries, Inc., a smaller
reporting company (the "Registrant");

2.	Based on my knowledge, this report does not contain any
untrue statement of a material fact or omit to state a material
fact necessary to make the statements made, in light of the
circumstances under which such statements were made, not misleading
with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other
financial information included in this report, fairly present in all
material respects the financial condition, results of operations and
cash flows of the Registrant as of, and for, the periods presented
in this report;

4.	I am responsible for establishing and maintaining disclosure
controls and procedures (as defined in Exchange Act Rules 13a-15(e)
and 15d-15(e) and internal control over financial reporting (as
defined in Exchange Act Rules 13a-15 (f) and 15d-15(f) for the
Registrant and have:
a)	Designed such internal disclosure and procedures, or caused
such controls and procedures to be designed under my supervision, to
ensure that material information relating to the Registrant, including
its consolidated subsidiaries, is made known to me by others within
those entities, particularly during the period in which this report
is being prepared;


b)	Designed such internal control over financial reporting, or
caused such internal control over financial reporting to be designed
under my supervision, to provide reasonable assurance, regarding the
reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with generally accepted
accounting principles;


c)	Evaluated the effectiveness of the Registrant?s disclosure
controls and procedures and presented in this report my conclusions
about the effectiveness of the disclosure controls and procedures, as
of the end of the period covered by this report based on such
evaluation; and


d)	Disclosed in this report any change in the Registrant's
internal control over financial reporting that occurred during the
Registrant's most recent fiscal quarter that has materially affected,
or is reasonably likely to affect, the Registrant's internal control
over financial reporting; and

5.      I have disclosed, based on my most recent evaluation of
internal controls over financial reporting, to the Registrant's
auditors and the audit committee of the Registrant's board of
directors (or persons performing the equivalent functions):


a)      All significant deficiencies and material weaknesses in the
design or operation of internal controls over financial reporting
which are reasonably likely to adversely affect the Registrant's
ability to record, process, summarize and report financial information;
and
b)	Any fraud, whether or not material, that involves management
or other employees who have a significant role in the Registrant's
internal controls over financial reporting.


February 14, 2013


/s/ Helena R. Santos
____________________
Helena R. Santos
Chief Executive Officer and Chief Financial Officer

EX-10

                          LEASE AGREEMENT

THIS LEASE is made and entered into this 1st day of December, 2012
by and between Allegheny Homes, LLC whose principal address is P.O.
Box 38356, Pittsburgh, Pa. 15238 (hereinafter) referred to as
"Landlord").

                               AND

Altamira Instruments, Inc., a Delaware Corporation, whose principal
address is 149 Delta Drive, Suite 200, Pittsburgh, Pa. 15238
(hereinafter referred to as "Tenant").

1.	Demised Premises:  Landlord hereby leases to Tenant an area
        containing approximately 9,060 s.f. of office/warehouse/lab
        space (known currently as "Suite 200", and as currently
        leased by the same tenant for the entire lease term.

2.	Term:
        a.  The term of this lease shall be for a period of 60 months
            commencing as of December 1, 2012 and expiring at the end
            of the 60th full calendar month thereafter, or November
            30, 2017.

3.	Rent:  Tenant covenants and agrees to pay to Landlord at P.O.
        Box 38356, Pgh. Pa. 15238, or any other address as specified
        by Landlord as follow:

						  ANNUAL     MONTHLY
	Year 1 - Dec. 1, 2012 - Nov. 30, 2013   -$73,200.00  $6,100.00
	Year 2 - Dec. 1, 2013 - Nov. 30, 2014   -$75,600.00  $6,300.00
	Year 3 - Dec. 1, 2014 - Nov. 30, 2015   -$79,200.00  $6,600.00
	Year 4 - Dec. 1, 2015 - Nov. 30, 2016   -$84,000.00  $7,000.00
	Year 5 - Dec. 1, 2016 - Nov. 30, 2017   -$86,400.00  $7,200.00

The aforementioned rental shall be payable in advance in monthly
installments as stated herein.  In the event any installment of rent is
not paid on or before the fifth (5th) day of the month, a monthly late
charge of Ten (10%) percent of that installment or rent shall be due
and payable by Tenant as additional rent.

4.	Security Deposit:  The Tenant has paid $5,125.00 to the Landlord
as a deposit to the landlord to stand as security for the payment by the
Tenant of any and all present and future debts and liabilities of the
Tenant to the Landlord and for the performance by the Tenant of all its
obligations arising under or in connection with its lease collectively
hereinafter the "Obligations".  In the event the Landlord disposes of
its interest in this lease, the Landlord shall credit the deposit to
its successors and thereupon shall have no liability to the Tenant.
Subject to the foregoing and to the Tenant not being in default under
this lease, the Landlord shall repay the security deposit to the
Tenant without interest at the end of the Term or sooner termination of
the lease provided that all obligations of the Tenant to the Landlord
are paid.

5.	Inspection: Tenant covenants and agrees to permit Landlord
or Landlord's authorized representative to enter the Premises for the
inspection thereof, at any reasonable time during normal business hours,
and during the 120 days prior to the expiration of Tenant's final lease
term, for the purpose of showing the same to prospective tenants and /
or purchasers.  Landlord may place signs on or about said premises to
indicate that same are for sale or rent, which signs shall not be
removed or obliterated or hidden by Tenant.  Landlord shall further
have the right of access to make such repairs to the building, or any
parts thereof, which Landlord may deem desirable or necessary for the
safety or preservation of the same.

6.	Building Expenses: During the term of this lease and any
renewal thereof, Tenant shall be responsible for their pro-rate share,
of 53% based on square footage, of all operating costs associated with
the premises including electric, gas, water and sewer consumption, snow
removal and landscaping.  Altamira agrees to maintain an account of
all monthly expenses and agrees to provide the necessary common area
services attributable to the building, and accordingly send a monthly
statement and copies of all Utility Invoices and Common Area Maintenance
Invoices to B.W. Rodgers for reimbursement.

7.	Additional Rent:  In the event the taxes levied and assessed
against the real estate herein demised are increased beyond that imposed
for the year 2011, whether occasioned by an increase in millage or an
increase in assessment or otherwise, the Tenant shall pay as additional
rent said increased taxes during the term of this Lease or any renewal
thereof.  This shall likewise apply to any tax measured by the value
assessment or use of the real estate.

8.	Janitorial/Rubbish:  Tenant shall be responsible for the sole
cost of janitorial service and rubbish removal.

9.	Repairs: Landlord shall be responsible for the following repairs:

       (a)  Landlord shall deliver HVAC, electrical, plumbing, and other
            systems to Tenant in good working order upon lease
            commencement and shall be responsible for repairs and
            maintenance of same throughout this lease.
       (b)  Landlord shall be responsible for the maintenance, repair
            and/or replacement of the roof, exterior walls, and structural
            components of the building.
       (c)  Tenant shall be responsible for all routine maintenance and
            upkeep to the Premises.

However, in no event shall Landlord be required to make any repairs or
replacements caused by the acts, omissions, or negligence of Tenant, its
agents, servants, employees, contractors, business invitees, and persons
making deliveries to the demised Premises.

10.	Alterations:  Tenant shall not make any alterations, additions
or improvements to the demised Premises without the prior written consent
of Landlord, which consent shall not be unreasonably withheld.

11.	Americans with Disabilities Act: Landlord makes no representation
that the Premises are in compliance with the Americans With Disabilities
Act, any regulations promulgated thereunder or any similar state or local
regulatory scheme.  Tenant assumes full liability and responsibility for
any alteration necessary to render the Premises to compliance with such
laws.

12.	Fire or Other Casualty:  If the building is damaged by fire or any
other casualty to such an extent that the cost of restoration, as
reasonable estimated by Landlord, will equal or exceed fifty (50%) percent
of the replacement value of the building, (exclusive of foundations) just
prior to the occurrence of the damage, then Landlord may, within sixty
(60) days of the date of the fire or other casualty, terminate the
lease by notice in writing to Tenant.  Said termination shall be effective
on the last day of the month in which notice is given or within ten (10)
days of the date notice is given, whichever date is later.  Tenant shall
surrender possession of the demised premises on the effective date of
termination of the lease and prepaid and unpaid rent and additional
rent shall be apportioned as of said date.

	If the cost of restoration as reasonably estimated by Landlord
shall amount to less than fifty (50%) percent of said replacement value
of the building, or if despite the cost Landlord does not elect to
terminate this lease, Landlord shall restore the building with
reasonable promptness, subject to Force Majeure, as hereinafter
defined, and neither Landlord not Tenant shall have the right to
terminate this lease.  Landlord shall not be required to restore the
fixtures and improvements owned or installed by Tenant.

	In the event the demised Premises are rendered totally unusable
as a result of fire or other casualty, Landlord shall not be required
to restore or repair the demised Premises, but shall have the sole
choice or option to do so and shall notify Tenant of Landlord's choice
or option within sixty (60) days of the fire or other casualty.  In the
event Landlord elects not to restore or repair the demised Premises, all
rights and obligations of the Landlord and Tenant hereunder shall cease
and terminate as of the day of such fire or other casualty and prepaid
or unpaid rent shall be immediately adjusted as of such date.

	In any case in which the use of the demised Premises is affected
by any such damage, there shall be either an abatement or an equitable
reduction in rent depending on the period for which and to the extent
the demised premises are not reasonably useable for the purposes for
which they are leased hereunder.  If the damage results from the
fault of Tenant, or Tenant's agents, servants, invitees or licensees,
Tenant shall not be entitled to any abatement or reduction of rent,
except to the extent, if any, that Landlord receives the proceeds of
rent insurance in lieu of rent.

13.	Indemnity and Insurance:  Landlord and Tenant each covenant
and agree that it will protect and save and keep the other party forever
free and harmless and indemnified against and from any and all claims
on account of any and all losses, costs, damages or expenses arising
out of any failure of Landlord or Tenant in any respect to comply
with and perform all the terms, conditions, covenants and provisions
in the within lease to be performed by such party.  Notwithstanding
the foregoing, Landlord and Tenant shall not indemnify or hold harmless
the other party for any claims, loss, cost, damage and/or expenses
arising or resulting from any intentional act, negligence or omission
of such other party.  The parties obligations under this Paragraph are
subject to the Waiver of Subrogation set forth in Paragraph 28, hereof.
Tenant shall, during the term of this lease and any extension thereof,
Tenant shall provide and maintain comprehensive general public liability
insurance insuring Landlord and Tenant against all bodily injury or
property damage occurring on the Premises with limits of One Million
Dollars ($1,000,000.00) in respect to any one occurrence with such
deductibles as Tenant may customarily carry in the conduct of its
business.

	Insurance hereof shall be written with a reputable company or
companies authorized to engage in the business of general liability
insurance in the Commonwealth of Pennsylvania.  Policies of insurance
issued by said companies shall name the Landlord as an additional
insured.  Tenant shall furnish Landlord, at least fifteen (15) days
prior to the commencement of the term of this lease and thereafter at
least fifteen (15) days prior to the expiration of any policy, with
customary insurance certificate evidencing such insurance, which
provided that Landlord shall receive at least fifteen (15) days prior
notice in writing of the cancellation of any such insurance policy.
In the event Tenant fails to furnish such certificate, Landlord may,
but shall not be required to, obtain such insurance and the premiums
on such insurance shall be deemed additional rental to be paid by
Tenant to Landlord upon demand.

	Landlord shall maintain during the term of this lease all
risk insurance insuring the building and property of which the Premises
are a part in an amount equal to the replacement value thereof.

14.	Property in Demised Premises:  All personal property of every
kind or description that may at any time be in or on the demised
Premises shall be at Tenant's sole risk or at the risk of other
claiming under the Tenant and the landlord shall not be liable for
any damage to said property or loss suffered by the business or
occupation of Tenant caused in any matter whatsoever.

At the expiration of the term herein provided or any renewals thereof,
the Tenant may remove all the trade fixtures, provided all the terms
and conditions of this lease have been fully performed by Tenant and
rents hereinbefore stipulated are paid in full and all damage to the
demised Premises caused by the removal of said trade fixtures is
repaired.  Subject to the foregoing, all alterations, leasehold
improvements, additions affixed to the demised Premises installed
by Tenant at the demised Premises shall remain upon the demised
Premises at the end of the term of the lease and shall become the
property of Landlord, except as may be set forth on an exhibit to
this lease, and which Tenant may remove, without injury or
defacement of the demised Premises and provided all of the terms
and conditions of this lease have fully performed by Tenant and
rents hereinbefore stipulated are paid in full, and all damage
to the demised Premises caused by the removal of said items is
repaired.

15.	Assignment and Subletting:  Tenant may not assign this
lease or sublet the whole or any part of the demised Premises or
permit any other person to occupy the whole or any part of the
demised Premises without the prior written consent of landlord to
Tenant, which consent shall not be unreasonably withheld.  Tenant
shall provide Landlord with all information reasonably requested
to enable Landlord to make an informed decision as to any
assignment or subletting, and Landlord shall inform Tenant of
its decision as to any assignment or subletting, and Landlord
shall inform Tenant of its decision within a reasonable period
of time after receipt of such information.

16.	Condemnation:  If the whole of the demised Premises
shall be taken by any government or public authority under the
power of eminent domain, or conveyed in lieu thereof, then the
term of this lease shall cease from the day possession of the
demised Premises shall be taken and the rent shall be paid up
to that day.  In the event that less than the whole of the demised
Premises but a portion thereof material to Tenant's use of the
demised Premises shall be taken, Landlord or Tenant shall have
the option, to be exercised within thirty (30) days of the date
that possession of the part of the demised Premises is taken, to
terminate this lease, and the rent shall be paid up to the date
of termination.

	In the event neither Landlord or Tenant exercise said
option, then this lease shall continue in full force and effect,
except that the rent shall be equitably reduced to the extent the
demised Premises are not reasonable usable for the purposes for
which they are leased hereunder.

	The entire compensation award, both fee and leasehold,
shall belong to the Landlord without any deductions therefrom for
any present or future estate of Tenant, and Tenant hereby assigns
to Landlord all its right, title, and interest to any such award,
and in the case of a partial condemnation, Tenant's share of such
award shall be proportionately reduced to reflect the fact that
only a portion of the land and building has been taken Tenant shall,
however, also be entitled to such award as may be allowed for
fixtures and other equipment installed by it, and any other
compensation allowed under the laws of the Commonwealth of
Pennsylvania, usch as for relocation, but only if such award or
other compensation shall be in addition to the award for the
land and the building.

17.	Use:  Tenant shall occupy and use the demised Premises
only for lawful purposes during the entire term of this lease in
compliance with applicable zoning and occupancy requirements.

18.	Rules and Regulations:  Tenant, its agents, servants,
employees and invitees, shall observe and comply with the Project
Development RIDC Industrial Park System Architectural Guidelines
and Design Standards and Protective Standards and Controls
attached hereto as Exhibit "B" (collectively, the "RIDC"
Standards"), and the Rules and Regulations set forth on Exhibit
"C", attached hereto.  Landlord warrants and represents that
(a) the RIDC Standards are the only covenants, restrictions or
regulations (other than government laws, regulations, ordinances,
codes and orders) which affect the land or building or the use
thereof, and (b) the land building currently comply with the
RIDC Standards and except as set forth in paragraph 12 with all
other laws, regulations, ordinances, codes and orders of all
federal, state, county and municipal bodies, boards and
commissions.

19.	Subordination:  Tenant agrees that this lease shall be
subordinated to any mortgage now or hereafter placed upon the
demised Premises, to any and all advances to be made thereunder;
provided, however, that in the event of any foreclosure or deed in
lieu of foreclosure affecting the property of which the demised
Premises are a part, and assuming Tenant is not in default hereunder,
Tenant's lease shall be unaffected by any such proceeding and
shall remain in full force and effect.  Tenant agrees that
immediately upon the request of landlord in writing, it will,
 without charge therefore, execute a recordable instrument or
instruments with Landlord and the holder of any such mortgage or
confirm the foregoing.  Tenant hereby irrevocably appoints
Landlord the attorney-in-fact of Tenant to execute and deliver
any such mutually acceptable instrument or instruments within
ten (10) days after written notice to do so.  In the event of
any mortgagee electing to have the lease be prior in lien to its
mortgage, then, upon such mortage notifying Tenant to the effect,
this lease shall be deemed prior in lien to the said mortgage,
whether this lease is dated prior to or subsequent to the date
of said mortgage.  In the event any person or entity shall
succeed to all or part of Landlord's interest in the demised
premises, whether by purchase or foreclosure, or otherwise and
if so requested or required by such successor in interest,
Tenant shall attorn to such successor in interest and shall
execute such agreement in confirmation of such attornment as
such successor in interest shall reasonably approve.

20.	Estoppel Certificate:  Tenant agrees, at any time within
fifteen (15) days of Landlord's written request, to execute,
acknowledge and deliver to Landlord or to a prospective
purchaser or mortgagee of the demised Premises a written
statement certifying that this lease is unmodified and in full
force and effect (or, if there have been modification, that
the same is in full force and effect as modified and stating
the modifications), and the dates to which the rent, additional
rent and any payment due from Tenant have been paid in advance,
if any, it being intended that any such statement delivered
pursuant to this Article may be relied upon by any prospective
purchaser or mortgagee of the demised Premises.

21.	Waiver:  The Tenant expressly waives to the Landlord
the benefit of Act No. 20, approved April 6, 1951, entitled
"The Landlord and Tenant Act of 1951" requiring notice to
vacate the premises at the end of the term or any subsequent
term for which this lease may be renewed and covenants and
agrees to give up quiet and peaceable possession, without
further notice from Landlord.

22.	Mechanic's Lien:  Any mechanic's lien filed against
the demised Premises or the building for work claimed to
have been done or for materials claimed to have been
furnished to Tenant shall be discharged by Tenant within
thirty (30) days after the filing of any mechanic's lien.
If Tenant shall fail to cause such lien to be discharged
within the period aforesaid, the, in addition to any other
right or remedy which Landlord may have, Landlord may, but
shall not be obligated to, discharge said lien either by
paying the amount claimed to be due or by procuring the
discharge of such lien by deposit or by bonding procedures,
and any amount so paid by Landlord and all costs and
expenses, including, but not limited to, attorney's fees,
incurred by Landlord in connection therewith, plus
interest, shall constitute additional rental Payable by
Tenant under this lease and shall be paid by Tenant to
Landlord on Demand.

23.	Parking:  Landlord shall make available to Tenant
free of charge that outdoor parking lot contiguous to Tenant's
demised space.  Tenant shall keep driveway clear of parked
vehicles to allow Landlord complete access to the rear parking
lot.

24.	Signage:  Landlord shall grant to Tenant via written
notice which said permission shall not be unreasonably withheld,
permission to place signage on or about the demised Premises
and monument signage at the driveway entrance subject to RIDC
Standards, applicable zoning laws and mutual agreement with
Landlord relating to sign placement.

	Subject to Landlord's request, Tenant upon vacating
agrees to remove at its sole cost all of its signage and
restore the buildings facade and front yard areas to its
present condition.

25.	Surrender and Removal:  Tenant covenants and agrees
to deliver and surrender to Landlord possession of the demised
Premises upon the expiration of the Term of this lease, broom
clean and in as good condition and repair as the same shall
be at the commencement of the term of this Lease or may have
been put by Landlord or Tenant during the continuance thereof,
ordinary wear and tear and damage by fire or the elements
not caused by the negligence of Tenant or anyone acting
thereunder excepted.

26.	Waiver of Subrogation:  Landlord and Tenant release
each other from any liability on account of loss damage, cost
or expense resulting from fire or other casualty insurable
under standard fire and extended coverage insurance and waive
any right of subrogation which might otherwise exist in or
accrue to any person on account thereof, but only to the extent
of any recovery made by the parties hereto under any policy
of insurance now or hereinafter issued, provided that such
release of liability and waiver of the right of subrogation
shall not be operative in any case where the effort thereof
is to invalidate any insurance coverage.

27.	Hold Over:  If Tenant lawfully occupies the demised
Premises after the end of the Term hereof, this lease and all
its terms, conditions and provisions shall be in force for
another month and so on from month to month unless either
party gives notice to the other party at least thirty (30)
days prior to the end of any such month not to continue the
within lease beyond the end of any such month, in which Tenant
covenants and agrees to vacate the Premises on or before the
end of any such month.

28.	Breaches and Remedies:  Any one or more of the
following shall constitute an "Event of Default" under this
lease:

A)	default by Tenant in the payment of any installment
of Rent, Additional Rent or any sum provided for under this
lease as the same becomes due and payable, which default shall
continue for ten (10) days;

B)	breach by Tenant of any covenant or condition contained
in this lease, which breach shall continue after twenty (20) days
written notice thereof from Landlord to Tenant unless the breach
is of such nature that it cannot be cured in twenty (20) days in
which case Tenant must take immediate steps to begin to cure the
breach and use its "best efforts" to complete the cure of the
breach;

C)	removal, attempt to remove, or the expression or
declaration of an intention to remove any of the goods and
chattels from the demised Premises for any reason other than in
the normal and usual operation of Tenant's business within the
demised Premises;

D)	issuance of an execution against Tenant which is not
stayed by payment or otherwise within ten (10) days from the
date of issuance of said execution;

E)	institution of bankruptcy proceedings by Tenant, or
institution or bankruptcy proceedings against Tenant which are
not withdrawn or dismissed within twenty (20) days after the
institution of said proceedings;

F)	an assignment by Tenant for the benefit of creditors,
or appointment of a receiver of Tenant by legal proceedings or
otherwise.

      In the event that Tenant commits and Event of Default
referred to in Paragraph 30(A), above, the entire rent for the
balance of the said Term (reduced to present value at the rate of
5% per annum) shall, at Landlord's option, and after notice and
expiration of applicable grace periods, become due and payable
as if by the Terms of this lease it were all payable in advance.
In such event, or in the event Tenant commits any Event of
Default referred to in this Paragraph 30, at Landlord's option,
this lease shall terminate and Tenant shall surrender
the demised Premises to Landlord.  Notwithstanding any statue,
rule of law, or decision of any court to the contrary, Tenant
shall remain liable, even after termination of the lease, for
rent, additional rent and/or accelerated rent due under this
lease, and for all damages caused by Tenant's breach or breaches
of the lease.In case this lease shall be terminated as
aforementioned, or if the Premises become vacant or deserted,
then in addition to all other remedies of Landlord, Landlord
may without notice terminate all services and/or re-enter the
demised Premises either by force or otherwise dispossess Tenant.
Landlord may, but shall not be required to attempt to relet the
demised Premises or any part or parts thereof for a term which
may at Landlord's option be less than or in excess of the period
which would otherwise have constituted the balance of the term of
this lease and may grant concessions or free rent to make
improvements or additions to the demised premises in order to
facilitate a reletting of the demised Premises.  Notwithstanding
anything to the contrary set forth above, Landlord shall use
reasonable commercial efforts to mitigate its damages.


29.	Confession of Judgment:  FOR VALUE RECEIVED AND FORTHWITH
IN THE EVENT OF DEFAULT BY TENANT, TENANT HEREBY DOES EMPOWER
ANY ATTORNEY OF ANY COURT OF RECORD, TO APPEAR FOR TENANT
AND CONFESS JUDGMENT FORTHWITH AGAINST TENANT AND IN
FAVOR OF LESSOR IN AN AMICABLE ACTION OF EJECTMENT FOR THE
PREMISES AND IMMEDIATELY ISSUE A WRIT OF POSSESSION, WITHOUT
LEAVE OF COURT, WITH ALL FEES, RELEASES, AND WAIVES TO
ACCOMPANY SAID CONFESSION OF JUDGMENT FOR A SUM DUE.  USE
OF THIS WARRANTY SHALL NOT EXHAUSE THE SAME OR THE POWER
TO THEREAFTER CONFESS JUDGMENTS, AS A CONTINUING REMEDY, TO
BE USED AS OFTEN AS IT MAY BE REQUIRED, AND NOTWITHSTANDING
ANY LAW OR RULE TO THE CONTRARY A REPRODUCED COPY OF THIS
INSTRUMENT CERTIFIED BY AN ATTORNEY OF ANY COURT OF RECORD
TO BE TRUE AND CORRECT SHALL BE SUFFICIENT EVIDENCE OF THE
CONTENTS HEREOF FOR THE PURPOSES HERETOFORE SET FORTH.

	This confession of Judgment shall survive the termination
of this lease.

30.	Warranty of Title:  Landlord warrants that it has good
and marketable title to the land and building of which the demised
Premises are a part, free from all encumbrances except those
disclosed of record, and that subject to Tenant's compliance with
its obligation hereunder, Tenant shall have the right to quiet
enjoyment of the demised Premises.

31.	Notices:  Any notice, request, demand, approval or consent
given or required to be given under this lease shall be in writing
and shall be deemed to have been given on the second day after the
same shall have been mailed by United States registered or certified
mail, return receipt requested, with all postal charges prepaid,
addressed as follows:

	1)	If to Landlord:		Allegheny Homes, LLC
					P.O. Box 38356
					Pittsburgh, PA  15238
					Attn:  Gene G. Tucciarone
	2)	If to Tenant:		Altamira Instruments
					149 Delta Drive
					Pittsburgh, PA  15238
					Attn: Brook March, Pres.

	Either party may, at any time, change its address for the
above purposes by sending a notice to the other party stating the
new address.

32.	Waiver by Landlord:  The waiver by Landlord of any breach
of any term, covenant or condition herein contained shall not be
deemed to be a waiver of any subsequent breach of the same or of
any other term, covenant or condition herein contained.  The
subsequent acceptance of rent due hereunder or of any or all
monetary obligations of Tenant hereunder, whether or not denoted
as rent hereunder, by Landlord shall not be deemed to be a waiver
of any breach by Tenant of any term, covenant or condition of
this lease, regardless of Landlord's knowledge of such breach
at the time of acceptance of such rent.

33.	Waiver of Jury Trial:  The Tenant and Landlord both
waive a trial by jury of any and all issues arising in any
action or proceeding between the parties hereto or their
successors, under or in connection with this lease or any
of its provisions.

34.	Remedies Cumulative:  Mention in this lease or
institution of any particularly remedy by Landlord shall not
preclude Landlord from any other remedies under this lease,
or now or hereafter existing at law or in equity or by statute.

35.	Force Majeure:  Force Majeure is herein defined as
strikes, look-outs, labor troubles, inability to procure
materials, failure of power, restrictive governmental laws
or regulations, riots, insurrection, war or other reason of
a like nature, foreseen or unforeseen, ordinary or
extraordinary, beyond the control of the Landlord.

36.	Negation of Personal Liability:  Nothwithstanding
anything to the contrary herein contained, Tenant agrees that
Landlord shall have no personal liability with respect to any
of the provisions of this lease and Tenant shall look solely to
the estate and property of Landlord in this building and the
land for the satisfaction of Tenant's remedies or claims
including without limitation the collection of any judgment
requiring the payment of money by Landlord in the event of
any default or breach by Landlord with respect to any of
the terms and provisions of this lease to be observed and/or
performed by Landlord.

37.	Truck Dock:  Landlord shall provide tenant the
exclusive use of two (2) truck/ loading dock located in the
warehouse portion of the demised premises.

38.	Early Termination:  Deleted.



39.	Complete Obligations:  This lease contains the entire
agreement between the parties hereto, and neither party has made
any statement, agreement or representations, either oral or
written, in connection therewith, modifying, adding or changing
the terms, conditions, covenants and provisions herein set forth.
No modifications of this lease shall be binding unless such
modifications shall be in writing and signed by the parties hereto.

40.	Severability:  If any particular term, covenant or provision
of this lease shall be determined to be invalid and unenforceable,
the same shall not affect the remaining provisions of this lease
which shall nevertheless remain in full force and effect.

41.	Miscellaneous:  As used in this lease and when required by
the context, each number (singular or plural) includes all numbers,
each gender includes all genders and the work "it" includes any
appropriate pronoun as the context requires.

42.	Provisions Binding:  This lease and all the terms and
provisions hereof shall inure to the benefit of and be binding upon
the parties hereto, their respective heirs administrators, executors,
successors, and assigns.

43.	Right of First Refusal:  Should Landlord, during the lease
term, or any extension thereof or any time Tenant is in possession
of the leased Premises, elects to sell the leased Premises or receives
a bona-fide offer of purchase, Tenant shall have the right of first
refusal to meet any bona-fide offer of sale on the same terms and
conditions of such offer, and will have fourteen (14) days thereafter
to exercise their option, otherwise said option will forever terminate.




IN WITNESS WHEREOF, The parties hereto have executed this lease with
the intention legally to be bound hereby the day and year first
written above.


WITNESS:				LANDLORD
					ALLEGHENY HOMES, LLC


/s/ Barbara Tucciarone			/s/ Gene G. Tucciarone
					Gene G. Tucciarone, Pres.



					TENANT
					ALTAMIRA INSTRUMENTS


/s/ Sharon Kiesel			/s/ Brook March
					Brook March, Pres.

XML

4. Segment Information and Concentrations (Details Narrative)	3 Months Ended		6 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2012	Dec. 31, 2011
Net sales	46.00%	59.00%	47.00%	50.00%
Benchtop Laboratory Equipment [Member]
Net sales	73.00%	63.00%	68.00%	63.00%
TwoCustomers [Member] | Benchtop Laboratory Equipment [Member]
Net sales	24.00%	26.00%	23.00%	23.00%
Consolidated sales	15.00%	24.00%	16.00%	19.00%
Four Customer And One Customer [Member] | Catalyst Research Instruments [Member]
Net sales	95.00%	73.00%
Consolidated sales	34.00%	25.00%
Four Customer [Member] | Catalyst Research Instruments [Member]
Net sales			67.00%	88.00%
Consolidated sales			20.00%	18.00%

XML

3. Acquisition

6 Months Ended

Dec. 31, 2012

Text Block [Abstract]

Acquisition

On November 14, 2011, the Company through SBI acquired substantially all of the assets of a privately owned company consisting principally of a license and sublicenses under patents held by the University of Maryland, Baltimore County (“UMBC”) with respect to the design, development and production of bioprocessing methods, systems and products. The acquisition was pursuant to an asset purchase agreement “APA”) whereby the Company paid to the seller $260,000 in cash, issued 135,135 shares of Common Stock valued at $400,000, issued to UMBC a $230,000 36-month note payable, and agreed to make additional cash payments equal to 30% of net royalties received under the acquired license and sublicenses, estimated at a present value of $128,000 on the date of acquisition. SBI’s revenues are derived from royalties received by SBI under the various sublicense agreements, net of royalty payments due to UMBC and revenues from sales of certain products being developed under its existing license.  University, government, and industrial laboratories working primarily in the biotechnology industry worldwide are its targeted customers. Management of the Company allocated the purchase price based on its valuation of the assets acquired, all of which are intangible, as follows:

Technology, trademarks, and in-process
research & development ("IPR&D")	$	500,000
Sublicense agreements		294,000
Engineering drawings and software		64,000
Non-competition agreements		18,000
Goodwill*		142,000
Total Purchase Price	$	1,018,000

*See Note 8, “Goodwill and Other Intangible Assets”.

The amounts allocated to Technology, Trademarks, and IPR&D and Sublicense Agreements are deemed to have a useful life of 10 years, and to the remaining intangible assets to have a useful life of 5 years, all of which are being amortized on a straight-line basis, except for goodwill. In connection with the acquisition, SBI entered into a research and development agreement providing for the seller to perform services with respect to the research and development of bioprocessing methods, systems, and products pursuant to programs set forth in the Agreement at a fee of $14,000 per month with SBI to bear all related expenses.  The agreement is for a two-year term with SBI having three one-year extension options.  SBI has the right to terminate the agreement in the event of a failure to achieve the designated product development terms set forth in the agreement.

Pro forma results

The unaudited pro forma condensed consolidated financial information in the table below summarizes the consolidated results of operations of Scientific, Altamira and SBI on a pro forma basis, as though the companies had been consolidated as of July 1, 2011 (the beginning of the prior periods presented).  The unaudited pro forma condensed financial information presented below is for informational purposes only and is not intended to represent or be indicative of the consolidated results of the operations that would have been achieved if the acquisition had been completed as of the commencement of the period presented.

	For the Three Month			For the Six Month
	Period Ended			Period Ended
	December 31,			December 31,
	2011			2011
Net sales	$	1,235,100		$	2,813,500
Net income (loss)	$	(40,700	)	$	6,300
Net income (loss)
per share - basic	$	(0.03	)	$	-
Net income (loss)
per share - diluted	$	(0.03	)	$	-

XML

7. Earnings (Loss) per common share (Details) (USD $)	3 Months Ended		6 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2012	Dec. 31, 2011
Earnings Loss Per Common Share Details
Net income/(loss)	$ 138,400	$ (55,300)	$ 76,200	$ 4,000
Weighted average common shares outstanding	1,337,175	1,265,613	1,336,444	1,231,095
Effect of dilutive securities	3,765		4,463	14,873
Weighted average dilutive common shares outstanding	1,340,940	1,265,613	1,340,907	1,245,968
Basic earnings/(loss) per common share	$ 0.10	$ (0.04)	$ 0.06	$ 0.00
Diluted earnings/(loss) per common share	$ 0.10	$ (0.04)	$ 0.06	$ 0.00

XML

6. Inventories (Details) (USD $)	Dec. 31, 2012	Jun. 30, 2012
Inventories Details
Raw materials	$ 1,297,300	$ 1,146,800
Work-in-process	369,900	221,900
Finished goods	167,500	245,000
Inventory	$ 1,834,700	$ 1,613,700

XML

7. Earnings (Loss) per common share (Details Narrative)	3 Months Ended		6 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2012	Dec. 31, 2011
Equity [Abstract]
Common stock issuable upon the exercise of outstanding options	40,000	57,000	40,000	2,000

XML

8. Goodwill and Other Intangible Assets (Details) (USD $)	Dec. 31, 2012	Jun. 30, 2012
Cost	$ 1,661,000	$ 1,658,900
Accumulated Amortization	838,900	781,600
Net	822,100	877,300
Technology, trademarks
Useful Lives Minimum	5 years	5 years
Useful Lives Maximum	10 years	10 years
Cost	864,000	864,000
Accumulated Amortization	370,600	339,300
Net	493,400	524,700
Customer relationships
Useful Lives Maximum	10 years	10 years
Cost	237,000	237,000
Accumulated Amortization	198,400	192,100
Net	38,600	44,900
Sublicense agreements
Useful Lives Maximum	10 years	10 years
Cost	294,000	294,000
Accumulated Amortization	33,100	18,400
Net	260,900	275,600
Non-compete agreements
Useful Lives Maximum	5 years	5 years
Cost	120,000	120,000
Accumulated Amortization	106,000	104,300
Net	14,000	15,700
Other intangible assets
Useful Lives Maximum	5 years	5 years
Cost	146,000	143,900
Accumulated Amortization	130,800	127,500
Net	$ 15,200	$ 16,400

XML

2. New Accounting Pronouncements:

6 Months Ended

Dec. 31, 2012

Notes to Financial Statements

New Accounting Pronouncements:

In July 2012, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2012-02, “Testing Indefinite- Lived Intangible Assets for Impairment” (“ASU No. 2012-02”), which allows entities to use a qualitative approach to test indefinite- lived intangible assets for impairment. ASU No. 2012-02 permits an entity to first assess qualitative factors to determine whether it is more likely than not that the fair value of the indefinite-lived intangible asset is less than its carrying value. If it is concluded that this is the case, it is necessary to perform the currently prescribed quantitative impairment test. Otherwise, the uantitative impairment test is not required. ASU No. 2012-02 is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. The adoption of the provisions of ASU No. 2012-02 is not expected to have a material impact on the Company’s financial position or results of operations.

XML

8. Goodwill and Other Intangible Assets (Details Narrative) (USD $)	3 Months Ended		6 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Jun. 30, 2012
Goodwill And Other Intangible Assets Details Narrative
Estimated future amortization expense 2013					$ 56,900
Estimated future amortization expense 2014					108,800
Estimated future amortization expense 2015					105,200
Estimated future amortization expense 2016					109,400
Estimated future amortization expense 2017					93,800
Estimated future amortization expense Thereafter					348,000
Total amortization expense	28,600	33,000	57,400	61,300
Goodwill	$ 589,900		$ 589,900		$ 589,900

XML

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2012	Jun. 30, 2012
ASSETS
Cash and cash equivalents	$ 670,400	$ 769,300
Investment securities	720,100	718,300
Trade accounts receivable, net	942,800	623,500
Inventories	1,834,700	1,613,700
Prepaid expenses and other current assets	86,200	167,800
Deferred taxes	70,300	70,200
Total current assets	4,324,500	3,962,800
Property and equipment at cost, net	174,000	180,500
Intangible assets, net	822,100	877,300
Goodwill	589,900	589,900
Other assets	24,100	25,700
Deferred taxes	125,400	136,000
Total assets	6,060,000	5,772,200
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable	142,300	114,800
Customer advances	356,400	98,500
Notes payable, current	77,100	75,800
Accrued expenses and taxes	221,800	237,500
Contingent consideration payable, current	19,000	19,000
Total current liabilities	816,600	545,600
Contingent consideration payable, less current portion	88,400	88,400
Notes payable, less current portion	66,100	105,000
Total liabilities	971,100	739,000
Shareholders' equity:
Common stock, $.05 par value; authorized 7,000,000 shares; 1,357,465 issued and outstanding at December 31, 2012 and 1,355,514 at June 30, 2012	67,900	67,800
Additional paid-in capital	1,975,300	1,968,700
Accumulated other comprehensive income (loss)	300	(12,600)
Retained earnings	3,097,800	3,061,700
Total	5,141,300	5,085,600
Less common stock held in treasury at cost, 19,802 shares	52,400	52,400
Total shareholders' equity	5,088,900	5,033,200
Total liabilities and shareholders' equity	$ 6,060,000	$ 5,772,200

XML

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)	6 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Operating activities:
Net income	$ 76,200	$ 4,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Loss on sale of investments	4,800
Depreciation and amortization	89,000	99,300
Deferred income taxes	9,500	2,000
Stock-based compensation	6,700	1,000
Changes in operating assets and liabilities:
Accounts receivable	(319,300)	(40,100)
Inventories	(221,000)	(315,600)
Prepaid expenses and other current assets	81,600	20,000
Accounts payable	27,500	112,900
Customer advances	257,900	326,900
Accrued expenses and taxes	(15,700)	(23,200)
Other assets	1,600
Total adjustments	(77,400)	183,200
Net cash provided by (used in) operating activities	(1,200)	187,200
Investing activities:
Intangible assets acquired in acquisition		(260,000)
Purchase of investment securities, available for sale	(710,300)	(5,500)
Capital expenditures	(25,200)	(61,900)
Purchase of intangible assets, other	(2,100)	(1,600)
Redemption of investment securities, available for sale	717,600
Net cash used in investing activities	(20,000)	(329,000)
Financing activities:
Line of credit proceeds		60,000
Proceeds from exercise of stock options		9,600
Cash dividend declared and paid	(40,100)	(59,900)
Principal payments on note payable	(37,600)	(12,200)
Net cash used in financing activities	(77,700)	(2,500)
Net decrease in cash and cash equivalents	(98,900)	(144,300)
Cash and cash equivalents, beginning of year	769,300	907,800
Cash and cash equivalents, end of period	670,400	763,500
Supplemental disclosures
Cash paid during the period for: income taxes		3,300
Cash paid during the period for: interest	$ 2,700

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3. Acquisition (Details) (USD $)	Dec. 31, 2012
Acquisition Details
Technology, trademarks, and in-process research & development ("IPR&D")	$ 500,000
Sublicense agreements	294,000
Engineering drawings and software	64,000
Non-competition agreements	18,000
Goodwill	142,000
Total Purchase Price	$ 1,018,000

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4. Segment Information and Concentrations (Details) (USD $)	3 Months Ended		6 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2012	Dec. 31, 2011
Depreciation and Amortization			$ 89,000	$ 99,300
Benchtop Laboratory Equipment [Member]
Net Sales	1,164,900	1,108,500	2,229,700	2,183,600
Foreign Sales	747,900	755,100	1,369,600	1,363,700
Profit (Loss)	157,200	100,200	274,800	260,600
Assets	2,485,700	2,467,600	2,485,700	2,467,600
Long-lived Asset Expenditures	7,100	4,500	9,200	14,000
Depreciation and Amortization	11,500	12,300	22,600	24,300
Catalyst Research Instruments [Member]
Net Sales	664,900	89,100	949,200	554,900
Foreign Sales	279,800	8,400	519,000	121,100
Profit (Loss)	68,200	(117,800)	(66,100)	(176,400)
Assets	1,695,400	1,375,700	1,695,400	1,375,700
Long-lived Asset Expenditures	700	2,800	18,100	49,500
Depreciation and Amortization	9,200	27,800	18,500	63,000
Bioprocessing Systems [Member]
Net Sales	47,100		49,700
Foreign Sales
Profit (Loss)	(30,900)	(32,300)	(105,900)	(32,300)
Assets	963,100	866,600	963,100	866,600
Long-lived Asset Expenditures		876,000		876,000
Depreciation and Amortization	24,000	12,000	47,900	12,000
Corporate and Other [Member]
Net Sales
Foreign Sales
Profit (Loss)		(33,600)		(58,200)
Assets	915,800	1,481,800	915,800	1,481,800
Long-lived Asset Expenditures
Depreciation and Amortization
Consolidated [Member]
Net Sales	1,876,900	1,197,600	3,228,600	2,738,500
Foreign Sales	1,027,700	763,500	1,888,600	1,484,800
Profit (Loss)	194,500	(83,500)	102,800	(6,300)
Assets	6,060,000	6,191,700	6,060,000	6,191,700
Long-lived Asset Expenditures	7,800	883,300	27,300	939,500
Depreciation and Amortization	$ 44,700	$ 52,100	$ 89,000	$ 99,300

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1. Summary of significant accounting policies

6 Months Ended

Dec. 31, 2012

Notes to Financial Statements

Summary of significant accounting policies

Principles of consolidation:

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

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CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Dec. 31, 2012	Jun. 30, 2012
Shareholders' equity:
Common stock,par value	$ 0.05	$ 0.05
Common stock, authorized shares	7,000,000	7,000,000
Common stock, issued shares	1,357,465	1,355,514
Common stock, outstanding shares	1,357,465	1,355,514
Stock held in treasury, shares	19,802	19,802

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4. Segment Information and Concentrations (Tables)

6 Months Ended

Dec. 31, 2012

Segment Reporting [Abstract]

Segment Information

Segment information is reported as follows (foreign sales are principally to customers in Europe and Asia):

	Benchtop Laboratory Equipment		Catalyst Research Instruments			Bioprocessing Systems			Corporate and Other			Consolidated
Three months ended December 31, 2012
Net Sales	$	1,164,900	$	664,900		$	47,100		$	-		$	1,876,900
Foreign Sales		747,900		279,800			-			-			1,027,700
Profit (Loss)		157,200		68,200			(30,900	)		-			194,500
Assets		2,485,700		1,695,400			963,100			915,800			6,060,000
Long-Lived Asset Expenditures		7,100		700			-			-			7,800
Depreciation and Amortization		11,500		9,200			24,000			-			44,700
	Benchtop Laboratory Equipment		Catalyst Research Instruments			Bioprocessing Systems			Corporate and Other			Consolidated
Three months ended December 31, 2011
Net Sales	$	1,108,500	$	89,100		$	-		$	-		$	1,197,600
Foreign Sales		755,100		8,400			-			-			763,500
Profit (Loss)		100,200		(117,800	)		(32,300	)		(33,600	)		(83,500	)
Assets		2,467,600		1,375,700			866,600			1,481,800			6,191,700
Long-Lived Asset Expenditures		4,500		2,800			876,000			-			883,300
Depreciation and Amortization		12,300		27,800			12,000			-			52,100

	Benchtop Laboratory Equipment		Catalyst Research Instruments			Bioprocessing Systems			Corporate and Other			Consolidated
Six months ended December 31, 2012
Net Sales	$	2,229,700	$	949,200		$	49,700		$	-		$	3,228,600
Foreign Sales		1,369,600		519,000			-			-			1,888,600
Profit (Loss)		274,800		(66,100	)		(105,900	)		-			102,800
Assets		2,485,700		1,695,400			963,100			915,800			6,060,000
Long-Lived Asset Expenditures		9,200		18,100			-			-			27,300
Depreciation and Amortization		22,600		18,500			47,900			-			89,000
	Benchtop Laboratory Equipment		Catalyst Research Instruments			Bioprocessing Systems			Corporate and Other			Consolidated
Six months ended December 31, 2011
Net Sales	$	2,183,600	$	554,900		$	-		$	-		$	2,738,500
Foreign Sales		1,363,700		121,100			-			-			1,484,800
Profit (Loss)		260,600		(176,400	)		(32,300	)		(58,200	)		(-6,300)
Assets		2,467,600		1,375,700			866,600			1,481,800			6,191,700
Long-Lived Asset Expenditures		14,000		49,500			876,000			-			939,500
Depreciation and Amortization		24,300		63,000			12,000			-			99,300

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Document and Entity Information	6 Months Ended
	Dec. 31, 2012	Feb. 04, 2013
Document And Entity Information
Entity Registrant Name	SCIENTIFIC INDUSTRIES INC
Entity Central Index Key	0000087802
Document Type	10-Q
Document Period End Date	Dec. 31, 2012
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		1,337,663
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2013

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5. Fair Value of Financial Instruments (Tables)

6 Months Ended

Dec. 31, 2012

Investments, All Other Investments [Abstract]

Fair Value Inputs

The following tables set forth by level within the fair value hierarchy the Company’s financial assets that were accounted for at fair value on a recurring basis at December 31, 2012 and June 30, 2012 according to the valuation techniques the Company used to determine their fair values:

	Fair Value Measurements Using Inputs Considered as
Assets:
	Fair Value at December 31, 2012		Level 1		Level 2		Level 3
Cash and cash equivalents	$	670,400	$	670,400	$	-	$	-
Available for sale securities		720,100		720,100		-		-
Total	$	1,390,500	$	1,390,500	$	-	$	-
Liabilities:
Contingent consideration	$	107,400	$	-	$	-	$	107,400
	Fair Value Measurements Using Inputs Considered as
Assets:
	Fair Value at June 30, 2012		Level 1		Level 2		Level 3
Cash and cash equivalents	$	769,300	$	769,300	$	-	$	-
Available for sale securities		718,300		718,300		-		-
Total	$	1,487,600	$	1,487,600	$	-	$	-
Liabilities:
Contingent consideration	$	107,400	$	-	$	-	$	107,400

Investments in Marketable Securitites

Investments in marketable securities classified as available-for-sale by security type at December 31, 2012 and June 30, 2012 consisted of the following:

	Cost		Fair Value		Unrealized Holding Gain (Loss)
At December 31, 2012:
Available for sale:
Equity securities	$	31,800	$	31,100	$	(700	)
Mutual funds		688,000		689,000		1,000
	$	719,800	$	720,100	$	300
	Cost		Fair Value		Unrealized Holding Gain (Loss)
At June 30, 2012:
Available for sale:
Equity securities	$	5,900	$	16,000	$	10,100
Mutual funds		725,000		702,300		(22,700	)
	$	730,900	$	718,300	$	(12,600	)

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(UNAUDITED) (USD $)	3 Months Ended		6 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2012	Dec. 31, 2011
Income Statement [Abstract]
Net sales	$ 1,876,900	$ 1,197,600	$ 3,228,600	$ 2,738,500
Cost of sales	1,046,600	707,200	1,934,000	1,644,200
Gross profit	830,300	490,400	1,294,600	1,094,300
Operating expenses:
General and administrative	309,600	335,100	589,200	626,100
Selling	191,100	160,100	347,400	349,000
Research and development	135,100	78,700	255,200	125,500
Total operating expenses	635,800	573,900	1,191,800	1,100,600
Income (loss) from operations	194,500	(83,500)	102,800	(6,300)
Other income (expense):
Investment income	3,100	3,500	5,900	7,100
Other	(1,600)	2,700	900	5,900
Interest expense	(1,300)	(1,200)	(2,700)	(1,200)
Total Other Income	200	5,000	4,100	11,800
Income (loss) before income tax expense (benefit)	194,700	(78,500)	106,900	5,500
Income tax expense (benefit):
Current	51,800	(21,800)	21,200	(500)
Deferred	4,500	(1,400)	9,500	2,000
Total income (loss) tax expense (benefit)	56,300	(23,200)	30,700	1,500
Net income (loss)	$ 138,400	$ (55,300)	$ 76,200	$ 4,000
Basic earnings (loss) per common share	$ 0.10	$ (0.04)	$ 0.06	$ 0.00
Diluted earnings (loss) per common share	$ 0.10	$ (0.04)	$ 0.06	$ 0.00
Cash dividends declared per common share	$ 0.00	$ 0.00	$ 0.03	$ 0.05

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6. Inventories

6 Months Ended

Dec. 31, 2012

Inventory Disclosure [Abstract]

Inventories

Inventories for financial statement purposes are based on perpetual inventory records at December 31, 2012 and based on a physical count as of June 30, 2012.  Components of inventory are as follows:

	December 31, 2012		June 30, 2012
Raw Materials	$	1,297,300	$	1,146,800
Work in process		369,900		221,900
Finished Goods		167,500		245,000
	$	1,834,700	$	1,613,700

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5. Fair Value of Financial Instruments

6 Months Ended

Dec. 31, 2012

Investments, All Other Investments [Abstract]

Fair Value of Financial Instruments

The FASB defines the fair value of financial instruments as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.  Fair value measurements do not include transaction costs.

The accounting guidance also expands the disclosure requirements around fair value and establishes a fair value hierarchy of valuation inputs.  The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market.  Each fair value measurement is reported in one of the three levels, which is determined by the lowest level input that is significant to the fair value measurement in its entirety.  These levels are described below:

Level 1 Inputs that are based upon unadjusted quoted prices for identical instruments traded in active markets.

Level 2 Quoted prices in markets that are not considered to be active or financial instruments for which all significant inputs are observable, either directly or indirectly.

Level 3  Prices or valuation that require inputs that are both significant to the fair value measurement and unobservable.

The following tables set forth by level within the fair value hierarchy the Company’s financial assets that were accounted for at fair value on a recurring basis at December 31, 2012 and June 30, 2012 according to the valuation techniques the Company used to determine their fair values:

	Fair Value Measurements Using Inputs Considered as
Assets:
	Fair Value at December 31, 2012		Level 1		Level 2		Level 3
Cash and cash equivalents	$	670,400	$	670,400	$	-	$	-
Available for sale securities		720,100		720,100		-		-
Total	$	1,390,500	$	1,390,500	$	-	$	-
Liabilities:
Contingent consideration	$	107,400	$	-	$	-	$	107,400
	Fair Value Measurements Using Inputs Considered as
Assets:
	Fair Value at June 30, 2012		Level 1		Level 2		Level 3
Cash and cash equivalents	$	769,300	$	769,300	$	-	$	-
Available for sale securities		718,300		718,300		-		-
Total	$	1,487,600	$	1,487,600	$	-	$	-
Liabilities:
Contingent consideration	$	107,400	$	-	$	-	$	107,400

Investments in marketable securities classified as available-for-sale by security type at December 31, 2012 and June 30, 2012 consisted of the following:

	Cost		Fair Value		Unrealized Holding Gain (Loss)
At December 31, 2012:
Available for sale:
Equity securities	$	31,800	$	31,100	$	(700	)
Mutual funds		688,000		689,000		1,000
	$	719,800	$	720,100	$	300
	Cost		Fair Value		Unrealized Holding Gain (Loss)
At June 30, 2012:
Available for sale:
Equity securities	$	5,900	$	16,000	$	10,100
Mutual funds		725,000		702,300		(22,700	)
	$	730,900	$	718,300	$	(12,600	)

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3. Acquisition (Details 1) (USD $)	3 Months Ended	6 Months Ended
	Dec. 31, 2011	Dec. 31, 2011
Acquisition Details 1
Net sales	$ 1,235,100	$ 2,813,500
Net income (loss)	$ (40,700)	$ 6,300
Net income (loss) per share - basic	$ (0.03)
Net income (loss) per share - diluted	$ (0.03)

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6. Inventories (Tables)

6 Months Ended

Dec. 31, 2012

Inventory Disclosure [Abstract]

Inventories

Inventories for financial statement purposes are based on perpetual inventory records at December 31, 2012 and based on a physical count as of June 30, 2012.  Components of inventory are as follows:

	December 31, 2012		June 30, 2012
Raw Materials	$	1,297,300	$	1,146,800
Work in process		369,900		221,900
Finished Goods		167,500		245,000
	$	1,834,700	$	1,613,700

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1. Summary of significant accounting policies (Policies)

6 Months Ended

Dec. 31, 2012

Notes to Financial Statements

Principles of consolidation

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

New Accounting Pronouncements

In July 2012, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2012-02, “Testing Indefinite- Lived Intangible Assets for Impairment” (“ASU No. 2012-02”), which allows entities to use a qualitative approach to test indefinite- lived intangible assets for impairment. ASU No. 2012-02 permits an entity to first assess qualitative factors to determine whether it is more likely than not that the fair value of the indefinite-lived intangible asset is less than its carrying value. If it is concluded that this is the case, it is necessary to perform the currentlyprescribed quantitative impairment test. Otherwise, the uantitative impairment test is not required. ASU No. 2012-02 is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. The adoption of the provisions of ASU No. 2012-02 is not expected to have a material impact on the Company’s financial position or results of operations.

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7. Earnings (Loss) per common share

6 Months Ended

Dec. 31, 2012

Equity [Abstract]

Earnings (Loss) per common share

Basic earnings (loss) per common share are computed by dividing net income or loss by the weighted-average number of shares outstanding. Diluted earnings per common share include the dilutive effect of stock options, if any.

Earnings (Loss) per common share was computed as follows:

	For the Three Month					For the Six Month
	Periods Ended					Periods Ended
	December 31,					December 31,
	2012		2011			2012		2011
Net income (loss)	$	138,400	$	(55,300	)	$	76,200	$	4,000
Weighted average common shares outstanding		1,337,175		1,265,613			1,336,444		1,231,095
Dilutive securities		3,765		-			4,463		14,873
Weighted average dilutive common shares outstanding		1,340,940		1,265,613			1,340,907		1,245,968
Basic earnings (loss) per common share	$	0.10	$	(0.04	)	$	0.06	$	-
Diluted earnings (loss) per common share	$	0.10	$	(0.04	)	$	0.06	$	-

Approximately 40,000 shares of the Company's common stock issuable upon the exercise of outstanding options were excluded from the calculation of diluted earnings per common share for each of the three and six month periods ended December 31, 2012, because the effect would be anti-dilutive.

Approximately 57,000 and 2,000 shares of the Company’s Common Stock issuable upon the exercise of outstanding stock options were excluded from the calculation of diluted earnings per common share for the three and six month periods ended December 31, 2011, because the effect would be anti-dilutive.

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8. Goodwill and Other Intangible Assets

6 Months Ended

Dec. 31, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill represents the excess of the purchase price over the fair value of the net assets acquired in connection with the Company's acquisition of Altamira and SBI’s acquisition of assets.  Goodwill amounted to $589,900 as of December 31, 2012 and June 30, 2012, all of which is deductible for tax purposes.

The components of other intangible assets are as follows:

	Useful Lives	Cost		Accumulated Amortization		Net
At December 31, 2012:
Technology	5/10 yrs.	$	864,000	$	370,600	$	493,400
Customer relationships	10 yrs.		237,000		198,400		38,600
Sublicense agreements	10 yrs.		294,000		33,100		260,900
Non-compete agreements	5 yrs.		120,000		106,000		14,000
Other intangible assets	5 yrs.		146,000		130,800		15,200
		$	1,661,000	$	838,900	$	822,100
	Useful Lives	Cost		Accumulated Amortization		Net
At June 30, 2012:
Technology	5/10 yrs.	$	864,000	$	339,300	$	524,700
Customer relationships	10 yrs.		237,000		192,100		44,900
Sublicense agreements	10 yrs.		294,000		18,400		275,600
Non-compete agreements	5 yrs.		120,000		104,300		15,700
Other intangible assets	5 yrs.		143,900		127,500		16,400
		$	1,658,900	$	781,600	$	877,300

Total amortization expense was $28,600 and $33,000 for the three months ended December 31, 2012 and 2011, respectively and $57,400 and $61,300 for the six months ended December 31, 2012 and 2011, respectively.  As of December 31, 2012, estimated future amortization expense related to intangible assets is $56,900 for the remainder of the fiscal year ending June 30, 2013, $108,800 for fiscal 2014, $105,200 for fiscal 2015, $109,400 for fiscal 2016, $93,800 for fiscal 2017, and $348,000 thereafter.

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3. Acquisition (Tables)

6 Months Ended

Dec. 31, 2012

Text Block [Abstract]

Purchase Price Allocation

Management of the Company allocated the purchase price based on its valuation of the assets acquired, all of which are intangible, as follows:

Technology, trademarks, and in-process
research & development ("IPR&D")	$	500,000
Sublicense agreements		294,000
Engineering drawings and software		64,000
Non-competition agreements		18,000
Goodwill		142,000
Total Purchase Price	$	1,018,000

Pro Forma Results

The unaudited pro forma condensed financial information presented below is for informational purposes only and is not intended to represent or be indicative of the consolidated results of the operations that would have been achieved if the acquisition had been completed as of the commencement of the period presented.

	For the Three Month			For the Six Month
	Period Ended			Period Ended
	December 31,			December 31,
	2011			2011
Net sales	$	1,235,100		$	2,813,500
Net income (loss)	$	(40,700	)	$	6,300
Net income (loss)
per share - basic	$	(0.03	)	$	-
Net income (loss)
per share - diluted	$	(0.03	)	$	-

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8. Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Dec. 31, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

The components of other intangible assets are as follows:

	Useful Lives	Cost		Accumulated Amortization		Net
At December 31, 2012:
Technology	5/10 yrs.	$	864,000	$	370,600	$	493,400
Customer relationships	10 yrs.		237,000		198,400		38,600
Sublicense agreements	10 yrs.		294,000		33,100		260,900
Non-compete agreements	5 yrs.		120,000		106,000		14,000
Other intangible assets	5 yrs.		146,000		130,800		15,200
		$	1,661,000	$	838,900	$	822,100
	Useful Lives	Cost		Accumulated Amortization		Net
At June 30, 2012:
Technology	5/10 yrs.	$	864,000	$	339,300	$	524,700
Customer relationships	10 yrs.		237,000		192,100		44,900
Sublicense agreements	10 yrs.		294,000		18,400		275,600
Non-compete agreements	5 yrs.		120,000		104,300		15,700
Other intangible assets	5 yrs.		143,900		127,500		16,400
		$	1,658,900	$	781,600	$	877,300

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5. Fair Value of Financial Instruments (Details) (USD $)	Dec. 31, 2012	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2011
Cash and cash equivalents	$ 670,400	$ 769,300	$ 763,500	$ 907,800
Available for sale securities	720,100	718,300
Total	1,390,500	1,487,600
Contingent consideration	107,400	107,400
Level 1
Cash and cash equivalents	670,400	769,300
Available for sale securities	720,100	718,300
Total	1,390,500	1,487,600
Contingent consideration
Level 2
Cash and cash equivalents
Available for sale securities
Total
Contingent consideration
Level 3
Cash and cash equivalents
Available for sale securities
Total
Contingent consideration	$ 107,400	$ 107,400

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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $)	3 Months Ended		6 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2012	Dec. 31, 2011
Condensed Consolidated Statements Of Comprehensive Income Loss
Net income (loss)	$ 138,400	$ (55,300)	$ 76,200	$ 4,000
Other comprehensive income:
Unrealized holding gain arising during period, net of tax	3,300	2,300	12,900	1,400
Comprehensive income (loss)	$ 141,700	$ (53,000)	$ 89,100	$ 5,400

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4. Segment Information and Concentrations

6 Months Ended

Dec. 31, 2012

Segment Reporting [Abstract]

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 (ABenchtop Laboratory Equipment@), the manufacture and marketing of custom-made catalyst research instruments  for universities, government laboratories, and chemical and petrochemical companies sold on a direct basis (ACatalyst Research Instruments@) and the marketing and production of bioprocessing systems for laboratory research in the biotechnology industry sold directly to customers and through distributors (“Bioprocessing Systems”).

Segment information is reported as follows (foreign sales are principally to customers in Europe and Asia):

	Benchtop Laboratory Equipment		Catalyst Research Instruments			Bioprocessing Systems			Corporate and Other			Consolidated
Three months ended December 31, 2012
Net Sales	$	1,164,900	$	664,900		$	47,100		$	-		$	1,876,900
Foreign Sales		747,900		279,800			-			-			1,027,700
Profit (Loss)		157,200		68,200			(30,900	)		-			194,500
Assets		2,485,700		1,695,400			963,100			915,800			6,060,000
Long-Lived Asset Expenditures		7,100		700			-			-			7,800
Depreciation and Amortization		11,500		9,200			24,000			-			44,700
	Benchtop Laboratory Equipment		Catalyst Research Instruments			Bioprocessing Systems			Corporate and Other			Consolidated
Three months ended December 31, 2011
Net Sales	$	1,108,500	$	89,100		$	-		$	-		$	1,197,600
Foreign Sales		755,100		8,400			-			-			763,500
Profit (Loss)		100,200		(117,800	)		(32,300	)		(33,600	)		(83,500	)
Assets		2,467,600		1,375,700			866,600			1,481,800			6,191,700
Long-Lived Asset Expenditures		4,500		2,800			876,000			-			883,300
Depreciation and Amortization		12,300		27,800			12,000			-			52,100

Approximately 73% and 63% of net sales of benchtop laboratory equipment (46% and 59% of total net sales) for the three month periods ended December 31, 2012 and 2011, respectively, were derived from the Company’s main product, the Vortex-Genie 2® mixer, excluding accessories.

Two customers accounted in the aggregate for approximately 24% and 26% of the net sales of the Benchtop Laboratory Equipment Operations and 15% and 24% of total net sales for the three months ended December 31, 2012, and 2011, respectively.  Sales of catalyst research instruments generally comprise a few very large orders averaging at least $100,000 per order to a limited number of customers, who differ from order to order.  Sales to four customers and one customer represented approximately 95% and 73% of the Catalyst Research Instrument Operations’ net sales, respectively, and 34% and 25% of total net sales for the three months ended December 31, 2012 and 2011, respectively.

	Benchtop Laboratory Equipment		Catalyst Research Instruments			Bioprocessing Systems			Corporate and Other			Consolidated
Six months ended December 31, 2012
Net Sales	$	2,229,700	$	949,200		$	49,700		$	-		$	3,228,600
Foreign Sales		1,369,600		519,000			-			-			1,888,600
Profit (Loss)		274,800		(66,100	)		(105,900	)		-			102,800
Assets		2,485,700		1,695,400			963,100			915,800			6,060,000
Long-Lived Asset Expenditures		9,200		18,100			-			-			27,300
Depreciation and Amortization		22,600		18,500			47,900			-			89,000
	Benchtop Laboratory Equipment		Catalyst Research Instruments			Bioprocessing Systems			Corporate and Other			Consolidated
Six months ended December 31, 2011
Net Sales	$	2,183,600	$	554,900		$	-		$	-		$	2,738,500
Foreign Sales		1,363,700		121,100			-			-			1,484,800
Profit (Loss)		260,600		(176,400	)		(32,300	)		(58,200	)		(6,300)
Assets		2,467,600		1,375,700			866,600			1,481,800			6,191,700
Long-Lived Asset Expenditures		14,000		49,500			876,000			-			939,500
Depreciation and Amortization		24,300		63,000			12,000			-			99,300

Approximately 68% and 63% of net sales of benchtop laboratory equipment (47% and 50% of total net sales) for the six month periods ended December 31, 2012 and 2011, respectively, were derived from the segment’s main product, the Vortex- Genie 2® mixer, excluding accessories.

Two benchtop laboratory equipment customers, accounted in the aggregate for approximately 23% of the segment=s net sales for each of the two comparative periods and  16% and 19%, respectively, of total net sales for the six month periods ended December 31, 2012 and 2011.

Sales of catalyst research instruments to four different customers in each of the six month periods, accounted for approximately 67% and 88% of the segment=s net sales and 20% and 18% of total net sales for the six month period ended December 31, 2012 and 2011, respectively.

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5. Fair Value of Financial Instruments (Details 1) (USD $)	Dec. 31, 2012	Jun. 30, 2012
Fair Value	$ 1,390,500	$ 1,487,600
Equity Securities
Cost	31,800	5,900
Fair Value	31,100	16,000
Unrealized Holding Gain (Loss)	(700)	10,100
Mutual Funds
Cost	688,000	725,000
Fair Value	689,000	702,300
Unrealized Holding Gain (Loss)	1,000	(22,700)
Available for Sale
Cost	719,800	730,900
Fair Value	720,100	718,300
Unrealized Holding Gain (Loss)	$ 300	$ (12,600)

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7. Earnings (Loss) per common share (Tables)

6 Months Ended

Dec. 31, 2012

Equity [Abstract]

Earnings per common share

Earnings (Loss) per common share was computed as follows:

	For the Three Month					For the Six Month
	Periods Ended					Periods Ended
	December 31,					December 31,
	2012		2011			2012		2011
Net income (loss)	$	138,400	$	(55,300	)	$	76,200	$	4,000
Weighted average common shares outstanding		1,337,175		1,265,613			1,336,444		1,231,095
Dilutive securities		3,765		-			4,463		14,873
Weighted average dilutive common shares outstanding		1,340,940		1,265,613			1,340,907		1,245,968
Basic earnings (loss) per common share	$	0.10	$	(0.04	)	$	0.06	$	-
Diluted earnings (loss) per common share	$	0.10	$	(0.04	)	$	0.06	$	-