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    March 31, 2013
                          ______________________
      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 April 26, 2013 was 1,337,663 shares.





                                 TABLE OF CONTENTS



PART I  - FINANCIAL INFORMATION


ITEM 1	CONDENSED CONSOLIDATED FINANCIAL STATEMENTS:


								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 Unaudited Condensed Consolidated Financial
          Statements					          5

ITEM 2	MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF
        OPERATIONS                                               13

ITEM 4	CONTROLS AND PROCEDURES				 	 16

PART II - OTHER INFORMATION

ITEM 6	EXHIBITS AND REPORTS ON FORM 8-K                         16

SIGNATURE                                                        17

EXHIBITS                                                         18



















PART I-FINANCIAL INFORMATION
Item 1.  Financial Statements

       SCIENTIFIC INDUSTRIES, INC. AND SUBSIDIARIES
         CONDENSED CONSOLIDATED BALANCE SHEETS

                          ASSETS
                                           March 31,    June 30,
                                               2013       2012
Current assets:		                   (Unaudited)
                                           __________   __________
  Cash and cash equivalents		   $  946,400   $  769,300
  Investment securities			      729,500	   718,300
  Trade accounts receivable, net	      731,700	   623,500
  Inventories				    2,245,200	 1,613,700
  Prepaid expenses and other current assets    63,600	   167,800
  Deferred taxes			       72,600	    70,200
                                           ----------   ----------

Property and equipment, net		      161,600	   180,500

Intangible assets, net  		      794,200	   877,300

Goodwill				      589,900	   589,900

Other assets            		       24,100	    25,700

Deferred taxes				      114,700	   136,000
                                           ----------   ----------
Total assets                               $6,473,500	$5,772,200
                                           ==========   ==========
	LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
  Accounts payable			   $  139,600   $  114,800
  Customer advances			      503,200	    98,500
  Notes payable, current		       77,700	    75,800
  Accrued expenses and taxes		      381,200	   237,500
  Contingent consideration payable, current    19,000	    19,000
                                           ----------   ----------
 		Total current liabilities   1,120,700	   545,600

Contingent consideration payable, less current
portion	                                       62,500	    88,400

Notes payable, less current portion	       46,500	   105,000
                                           ----------   ----------
        Total liabilities		    1,229,700	   739,000
                                           ----------   ----------
Shareholders' equity:
  Common stock, $.05 par value; authorized 7,000,000 shares;
    1,357,465 issued and outstanding at
    March 31, 2013 and 1,355,514 at
    June 30, 2012                              67,900	    67,800
  Additional paid-in capital                1,976,200	 1,968,700
  Accumulated other comprehensive income (loss) 4,200	 (  12,600)
  Retained earnings                         3,247,900	 3,061,700
                                           ----------   ----------
                                            5,296,200	 5,085,600
  Less common stock held in treasury, at cost,
   19,802 shares                               52,400	    52,400
                                           ----------   ----------
Total shareholders' equity                  5,243,800	 5,033,200
                                           ----------   ----------
Total liabilities and
  shareholders' equity                     $6,473,500	$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 Nine Month
                            Periods Ended          Periods Ended
                               March 31,               March 31,
                         ______________________ ______________________
                             2013      2012         2013       2012
                         __________  __________ __________  __________
Net sales                $1,626,100  $1,519,500 $4,854,700  $4,258,000
Cost of sales		    810,700     920,500  2,744,700   2,564,700
                         ----------  ---------- ----------  ----------
Gross profit                815,400     599,000  2,110,000   1,693,300
                         ----------  ---------- ----------  ----------
Operating expenses:
 General & administrative   320,800     318,900    910,000     945,000
 Selling                    188,600     170,800    536,000     519,800
 Research & development     100,800     125,000    356,000     250,500
                         ----------  ---------- ----------  ----------
  Total operating
  expenses  		    610,200     614,700  1,802,000   1,715,300
                         ----------  ---------- ----------  ----------
Income (loss) from
 operations   		    205,200 (    15,700)   308,000 (    22,000)
                         ----------  ---------- ----------  ----------
Other income (expense):
 Investment income	      5,700       2,900     11,600      10,000
 Other			        600       3,100	    1,500	 9,000
 Interest expense	  (   1,100)(     1,700)(   3,800) (     2,900)
                         ----------  ----------  --------   ----------
  Total other income	      5,200       4,300     9,300       16,100
                         ----------  ----------  --------   ----------
Income (loss) before
 income taxes (benefit)     210,400 (    11,400)   317,300 (     5,900)
                         ----------  ----------  ---------  ----------
Income tax expense (benefit):
  Current		     53,600 (     2,900)    74,800 (     3,400)
  Deferred		      6,700 (       300)    16,200       1,700
                         ----------  ----------  ---------  ----------
Total income (loss) tax
  expense (benefit)	     60,300 (     3,200)    91,000 (     1,700)
                         ----------  ----------  ---------  ----------
Net income (loss)         $ 150,100 ($    8,200) $ 226,300 ($    4,200)
                         ==========  ==========  =========  ==========

Basic earnings (loss) per common
 share	                  $  .11     $ (.01)	 $  .17	    $  .00
Diluted earnings (loss) per common
 share  		  $  .11     $ (.01) 	 $  .17	    $  .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 Nine Month
                                Periods Ended          Periods Ended
                                March 31,              March 31,
                                ___________________    ____________________
                                   2013      2012         2013       2012
                                ___________________    ____________________
Net income (loss)		$ 150,100 ($  8,200)   $ 226,300  ($  4,200)

Other comprehensive income:
  Unrealized holding gain
  arising during period,
  net of tax			    3,900     7,500	  16,800      8,900
                                ---------  --------    ---------  ---------
Comprehensive income (loss)     $ 154,000 ($    700)   $ 243,100  $   4,700
                                =========  ========    =========  =========




See notes to unaudited condensed consolidated financial statements



                                   3




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

                                 	       For the Nine Month Periods Ended
                                                March 31, 2013  March 31, 2012
Operating activities:
  Net income (loss)				    $ 226,300	($   4,200)
                                                    ---------    ---------
  Adjustments to reconcile net income (loss)
   to net cash provided by operating activities:
      Loss on sale of investments                       7,400         -
      Depreciation and amortization		      132,400	   141,600
      Deferred income tax benefit		       16,200	     1,700
      Stock-based compensation			        7,600	     5,700
      Changes in operating assets and liabilities:
         Accounts receivable			   (  108,200)	    51,000
         Inventories			           (  631,500)	(  492,600)
         Prepaid expenses and other current assets    104,200	    41,000
         Accounts payable                              24,800	    23,500
         Customer advances		              404,700	   307,100
         Accrued expenses and taxes		      143,700	     5,900
         Other assets	          	                1,600	      -
                                                    ---------    ---------
      Total adjustments	        	              102,900	    84,900
                                                    ---------    ---------
      Net cash provided by operating activities	      329,200	    80,700
                                                    ---------    ---------
Investing activities:
  Intangible assets acquired in acquisition of SBI       -   	(  260,000)
  Redemption of investment securities,
    available-for-sale				      717,600	      -
  Purchase of investment securities,
    available-for-sale				   (  716,900)	(    8,300)
  Capital expenditures				   (   28,100)	(   66,100)
  Purchase of other intangible assets		   (    2,100)	(    4,900)
                                                    ---------    ---------
       Net cash used in investing activities	   (   29,500)	(  339,300)
                                                    ---------    ---------
Financing activities:
 Line of credit proceeds				 - 	    60,000
 Line of credit repayments				 - 	(   60,000)
 Payments of contingent consideration		   (   25,900)	(   16,100)
 Proceeds from exercise of stock options	         - 	     9,600
 Cash dividend declared and paid		   (   40,100)	(   59,900)
 Principal payments on note payable		   (   56,600)	(   30,600)
                                                    ---------    ---------
	 Net cash used in financing activities	   (  122,600)	(   97,000)
                                                    ---------    ---------
Net increase (decrease) in cash
 and cash equivalents				      177,100 	(  355,600)

Cash and cash equivalents, beginning of year	      769,300      907,800
                                                    ---------    ---------
Cash and cash equivalents, end of period	    $ 946,400    $ 552,200
                                                    =========    =========
Supplemental disclosures:
Cash paid during the period for:
 Income taxes				 	    $    -       $   3,300
 Interest					        3,800	     2,900



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 nine months ended March
31, 2013, 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 February 2013, the Financial Accounting Standards Board ("FASB")
issued Accounting Standards Update No. 2013-02, Comprehensive Income
(Topic 220)-Reporting of Amounts Reclassified Out of Accumulated Other
Comprehensive Income ("ASU 2013-02"), to improve the reporting of
reclassifications out of accumulated other comprehensive income. ASU
2013-02 requires an entity to report the effect of significant
reclassifications out of accumulated other comprehensive income on
the respective line items in net income if the amount being reclassified
is required under U.S. GAAP to be reclassified in its entirety to net
income. For other amounts that are not required under U.S. GAAP to be
reclassified in their entirety from accumulated other comprehensive
income to net income in the same reporting period, an entity is
required to cross-reference other disclosures required under U.S.
GAAP that provide additional detail about those amounts. ASU 2013-02
became effective for the Company for this reporting period, however
the adoption of ASU 2013-02 did not have an impact on the reporting of
the Company's financial statements.

In July 2012, the FASB issued Accounting Standards Update No. 2012-02,
"Testing Indefinite-Lived Intangible Assets for Impairment"
("ASU 2012-02"), which allows entities to use a qualitative approach
to test indefinite-lived intangible assets for impairment.  ASU
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 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 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.

In May 2013, the Company was advised of the death of Dr. Joseph Qualitz, the
Chief Operating Officer of the seller.  Pursuant to the research and
development agreement, the Company has the option to terminate the agreement
effective immediately unless the Company consents to a replacement who has the
skills, education, experience and capabilities similar to those of Dr.
Qualitz.  No assurance can be given that such replacement will be made.  The
Company believes that a termination will not be materially adverse to the
Company's operations or financial condition as the research and development
services can be performed by its staff, or if needed, through qualified
subcontractors at no additional material increase in cost from that to be
incurred if the research agreement was not terminated.


                                   6




       Pro forma results

The unaudited pro forma condensed consolidated financial information in
the table below summarizes the consolidated results of operations of the
Company on a pro forma basis, as though SBI 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 Nine Month
			    		Period Ended
			     		March 31,
                                        __________________
			    		       2012
                                        __________________
       Net sales			$4,333,000

       Net income (loss)               ($   12,900)

       Net income (loss)
 	 per share - basic	       ($.01)

       Net income (loss)
 	 per share - diluted           ($.01)

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:

		    Benchtop	  Catalyst	  	   Corporate
	            Laboratory    Research  Bioprocessing    and
                    Equipment   Instruments    Systems      Other  Consolidated
                    __________  ___________ _____________ __________ __________
Three months ended March 31, 2013:

 Net Sales	    $1,229,800   $  360,600  $    35,700  $     -    $1,626,100
 Foreign Sales	       645,300      107,300          -	        -       752,600
 Profit(Loss)          243,300	      3,600  (    41,700)       -       205,200
 Assets     	     2,719,500    1,932,600      904,600     916,800  6,473,500
 Long-Lived Asset
    Expenditures	 1,700        1,200         -           -         2,900
 Depreciation and
    Amortization        10,700        8,700       24,000        -        43,400



	            Benchtop	  Catalyst	  	   Corporate
	            Laboratory    Research  Bioprocessing    and
                    Equipment   Instruments    Systems      Other  Consolidated
                    __________  ___________ _____________ __________ __________
Three months ended March 31, 2012:

 Net Sales	    $1,025,300   $  418,300  $    75,900  $    -     $1,519,500
 Foreign Sales	       613,900      405,900        3,600       -      1,023,400
 Profit(Loss)           80,700	 (   76,000) (    16,300) (   4,100) (   15,700)
 Assets     	     2,446,300    1,239,700      842,700  1,492,500   6,021,200
 Long-Lived Asset
    Expenditures	 7,500         -            -          -          7,500
 Depreciation and
    Amortization        12,500        5,900       24,000       -         42,400


Approximately 71% and 62% of net sales of benchtop laboratory equipment for the
three month periods ended March 31, 2013 and 2012, respectively, were derived
from the Company's main product, the Vortex-Genie 2 mixer, excluding
accessories.

Two benchtop laboratory equipment customers accounted for approximately 27% of
the segment's net sales for each of the three month periods ended March 31,
2013 and 2012 (20% and 18% of total net sales, respectively, for the periods).

Sales of catalyst research instruments are generally pursuant to large orders
averaging more than $100,000 per order to a limited numbers of customers.
Sales to three customers in the three months ended March 31, 2013 and two
different customers in the three months ended March 31, 2012, accounted
respectively for 92% of the segment's net sales for each of the periods
(20% and 25% of total net sales for the respective periods).




				 8




	            Benchtop	  Catalyst	  	   Corporate
	            Laboratory    Research  Bioprocessing    and
                    Equipment   Instruments    Systems      Other  Consolidated
                    __________  ___________ _____________ __________ __________
Nine months ended March 31, 2013:

 Net Sales	    $3,459,500   $1,309,700  $    85,500  $    -     $4,854,700
 Foreign Sales	     2,014,900      626,400         -  	       -      2,641,300
 Profit(Loss)          518,100	 (   62,500) (   147,600)      -        308,000
 Assets     	     2,719,500    1,932,600      904,600    916,800   6,473,500
 Long-Lived Asset
    Expenditures        10,900       19,300         -          -         30,200
 Depreciation and
    Amortization        33,300       27,200       71,900       -        132,400






	            Benchtop	  Catalyst	  	   Corporate
	            Laboratory    Research  Bioprocessing    and
                    Equipment   Instruments    Systems      Other  Consolidated
                    __________  ___________ _____________ __________ __________
Nine months ended March 31, 2012:

 Net Sales	    $3,208,900   $  973,200  $    75,900   $   -     $4,258,000
 Foreign Sales	     1,977,700      527,000        3,600       -      2,508,300
 Profit(Loss)          341,300	 (  252,400) (    48,600) (  62,300) (   22,000)
 Assets     	     2,446,300    1,239,700      842,700  1,492,500   6,021,200
 Long-Lived Asset
    Expenditures       21,500        49,500      876,000       -        947,000
 Depreciation and
    Amortization       36,700        68,900       36,000       -        141,600


Approximately 69% and 63% of net sales of benchtop laboratory equipment for the
nine month periods ended March 31, 2013 and 2012, respectively, were derived
from the Company's main product, the Vortex-Genie 2 mixer, excluding
accessories.

Two benchtop laboratory equipment customers, accounted for approximately 24%
and 26% of the segment's net sales (17% and 24% of total net sales) for the
nine month periods ended March 31, 2013 and 2012, respectively.

Sales of catalyst research instruments to three customers in the nine months
ended March 31, 2013 and to three other customers in the nine months ended
March 31, 2012 accounted for approximately 49% and 65% of that segment's net
sales (13% and 15% of total net sales) for the respective nine month periods.

The Company's foreign sales are principally made to customers in Europe and
Asia.

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.





		  	          9





The accounting guidance also expands the disclosure requirements concerning
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 valuations 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 and liabilities that were accounted for at fair
value on a recurring basis at March 31, 2013 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
                            March 31, 2013     Level 1   Level 2  Level 3
                            _______________  __________ _______  _______

Cash and cash equivalents	 $  946,400  $  946,400  $  -    $  -
Available for sale securities  	    729,500	729,500     -       -
                                 __________  __________  ______  ________
Total				 $1,675,900  $1,675,900  $  -    $  -
                                 ==========  ==========  ======  ========
Liabilities:

Contingent consideration	 $   81,500  $     -     $  -    $ 81,500
                                 ==========  ==========  ======  ========

                                      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 March 31, 2013 and June 30, 2012 consisted of the
following:

                                                       Unrealized
                                           Fair	       Holding Gain
                            Cost  	   Value  	  (Loss)
                        _________       _________     _____________
At March 31, 2013:
   Available for sale:
   Equity securities	$  29,300	$  31,800     $     2,500
   Mutual funds		  696,000	  697,700	    1,700
                        _________       _________     ___________
                        $ 725,300	$ 729,500     $     4,200
                        =========       =========     ===========


				10




                                                       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:

At interim reporting periods, inventories for financial statement
purposes are based on perpetual inventory records. Components of
inventory are as follows:

                       March 31,  		   June 30,
                         2013   		    2012
                      __________                __________
Raw Materials         $1,329,700		$1,146,800
Work in process          762,000    		   221,900
Finished Goods           153,500		   245,000
                      __________                __________
                      $2,245,200		$1,613,700
                      ==========                ==========

7.  Earnings (Loss) per common share:

Basic earnings (losses) per common share are computed by dividing net
income 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 Nine Month
                           Periods Ended	Periods Ended
                           March 31,           	March 31,
                          ___________________________________________
    			    2013       2012  	  2013      2012
                          ___________________________________________
Net income (loss)         $ 150,100 ($   8,200) $ 226,300 ($   4,200)

Weighted average common
 shares outstanding       1,337,663  1,335,712  1,336,844  1,265,714
Effect of dilutive
 securities                   4,701       -         4,543       -
                          _________  _________  _________  _________
Weighted average dilutive
common shares outstanding 1,342,364  1,335,712  1,341,387  1,265,714
                          =========  =========  =========  =========
Basic earnings (loss) per
common share		  $   .11  ($  .01)	$   .17   ($  .00)
                          =======  ========     =======   ========
Diluted earnings (loss) per
common share 		  $   .11  ($  .01)	$   .17   ($  .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 nine month periods ended March 31, 2013, because the effect would
be anti-dilutive.


				11




Approximately 55,000 shares of the Company's common stock issuable
upon the exercise of outstanding options were excluded from the
calculation of diluted loss per common share, for the three and nine
month periods ended March 31, 2012, respectively, because the effect
would be anti-dilutive due to the losses for the periods.



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 March 31, 2013 and June 30, 2012,
respectively, all of which is deductible for tax purposes.

The components of other intangible assets are as follows:

		         Useful                Accumulated
			 Lives      Cost       Amortization  Net
                         ________   _________  ____________  _________
 At March 31, 2013:

 Technology, trademarks  5/10 yrs.  $ 864,000  $   386,300   $ 477,700
 Customer relationships   10 yrs.     237,000 	   200,800      36,200
 Sublicense agreements    10 yrs.     294,000       40,400     253,600
 Non-compete agreements    5 yrs.     120,000      107,000      13,000
 Other intangible assets   5 yrs.     146,000      132,300      13,700
                                   __________  ___________   _________
	                           $1,661,000  $   866,800   $ 794,200
                                   ==========  ===========   =========

			 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 $27,900 and $26,300 for the three months
ended March 31, 2013 and 2012, respectively and $85,200 and $87,600 for
the nine months ended March 31, 2013 and 2012, respectively.  As of
March 31, 2013, estimated future amortization expense related to
intangible assets is $29,000 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.




		                      12





              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 catalyst
research instruments to customers' satisfaction, 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 increased by $177,100 to $946,400 as of
March 31, 2013 from $769,300 as of June 30, 2012.

Operating activities provided cash of $329,200 for the nine month
period ended March 31, 2013 as compared to $80,700 for the nine month
period ended March 31, 2012, due mainly to higher income in the 2013
period.  Cash used in investing activities decreased to $29,500 for
the nine month period ended March 31, 2013 compared to a decrease of
$339,300 for the nine month period ended March 31, 2012 primarily due
to the acquisition by SBI of intangible assets in the earlier period.
Cash used in financing activities was $122,600 for the nine month
period ended March 31, 2013 compared to $97,000 for the nine month
period ended March 31, 2012, due primarily to the Note and contingent
consideration payments made in connection with the acquisition by SBI
of intangible assets.

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 $251,100 to $3,668,300 as
of March 31, 2013 from $3,417,200 at June 30, 2012 mainly due to the
income for the 2013 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 March 31, 2013 was approximately 3.28% 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 March 31, 2013 and
June 30, 2012, no borrowings under the line were outstanding.



                                   13




Management believes that the Company will be able to meet its cash
flow needs for the 12 months ended March 31, 2014 from its available
financial resources, including its cash and cash equivalents, the
line of credit and investment securities.



Results of Operations:


Financial Overview

The Company recorded income before income taxes of $210,400 for the
three month period ended March 31 2013 compared to a loss of ($11,400)
before income tax benefit for the comparative period last year,
primarily as a result of the increased income for the Benchtop
Laboratory Operations and income of $3,600 for the 2013 period as
compared to ($76,000) loss for the year earlier period for the
Catalyst Research Instruments Operations.  For the comparative nine
month period ended March 31, 2013, the Company reflected income before
income taxes of $317,300 compared to a loss before income tax benefit
of ($5,900) for the comparable 2012 period, also principally due to
the higher income generated by the Benchtop Laboratory Equipment
Operations, and a material reduction in the operating loss for the
Catalyst Research Instrument Operations, partially offset by the
increase in loss for the Bioprocessing Systems Operations.

The Three Months Ended March 31, 2013 Compared With the Three Months
Ended March 31, 2012

Net sales for the three months ended March 31, 2013 increased by
$106,600 (7.0%) to $1,626,100 from $1,519,500 for the three months
ended March 31, 2012 as a result of a $204,500 increase in benchtop
laboratory product sales, partially offset by decreases of $57,700 and
$40,200 in catalyst research instrument sales and bioprocessing
systems revenues, respectively.  Sales of benchtop laboratory
equipment products generally comprise many small 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 $1,340,000 as of March
31, 2013, most of which is expected to be delivered by fiscal year
end, as compared to the backlog of $850,000 as of March 31, 2012.

The gross profit for the three months ended March 31, 2013 was 50.1%
compared to 39.4% for the three months ended March 31, 2012, primarily
as a result of more profitable orders for the Catalyst Research
Instrument Operations.

General and administrative expenses for the three months ended March
31, 2013 increased slightly to $320,800 compared to $318,900 for the
three months ended March 31, 2012.

Selling expenses for the three months ended March 31, 2013 increased
$17,800 (10.4%) to $188,600 from $170,800 for the three months ended
March 31, 2012, primarily the result of commissions paid with respect
to catalyst research instrument sales.

Research and development expenses for the three months ended March 31,
2013 decreased by $24,200 (19.4%) to $100,800 from $125,000 for the
three months ended March 31, 2012, primarily the result of a reduction
of new product development activity by the Benchtop Laboratory
Equipment Operations.



                                  14




Total other income amounted to $5,200 for the three months ended March
31, 2013 compared to $4,300 for the prior year period.

The Company recorded income tax expense of $60,300 for the three
months ended March 31, 2013 compared to an income tax benefit of
$3,200 for the three months ended March 31, 2012 due to the profits in
the current year period.

As a result of the foregoing, net income was $150,100 for the three
months ended March 31, 2013, compared to a net loss of ($8,200) for
the three months ended March 31, 2012.


Nine Months Ended March 31, 2013 Compared With the Nine Months Ended
March 31, 2012

Net sales increased by $596,700 (14.0%) to $4,854,700 for the nine
months ended March 31, 2013 compared to $4,258,000 for the nine months
ended March 31, 2012, due to increases of $336,500 in catalyst
research instrument sales and $250,600 in benchtop laboratory
equipment sales, and an increase of $9,600 in bioprocessing systems
revenues.  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 $1,340,000 as of March 31, 2013, most of
which is anticipated to be delivered by fiscal year end, as compared
with $850,000 as of March 31, 2012.

The gross profit percentage for the nine months ended March 31, 2013
was 43.5% as compared with 39.8% for the prior year nine month period
mostly due to the more profitable orders for Catalyst Research
Instruments and lower overhead costs for the Benchtop Laboratory
Equipment Operations.

General and administrative expenses decreased by $35,000 (3.7%) to
$910,000 for the nine months ended March 31, 2013 from $945,000 for
the comparable period last year, because of the incurrence in the
earlier period of costs related to the asset acquisition by SBI.

Selling expenses for the nine months ended March 31, 2013 increased by
$16,200 (3.1%) to $536,000 compared to $519,800 for the nine months
ended March 31, 2012, due to higher sales commissions incurred by the
Catalyst Research Instruments Operations.

Research and development expenses for the nine months ended March 31,
2013 increased by $105,500 (42.1%) to $356,000 from $250,500 for the
nine months ended March 31, 2012, due to increased new product
development activity by the Benchtop Laboratory Equipment Operations
and the Bioprocessing Systems Operations.

Total other income decreased by $6,800 to $9,300 from $16,100 for the
nine month comparative periods ended March 31, 2013 and 2012.

Income tax expense for the nine months ended March 31, 2013 was
$91,000 compared to an income tax benefit of $1,700 for the nine
months ended March 31, 2012 due to the profits generated for the
current year period.



                               15




As a result of the foregoing, net income for the nine months ended
March 31, 2013 was $226,300 compared to a net loss of $4,200 for the
nine months ended March 31, 2012.




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 B OTHER INFORMATION


Item 6.  Exhibits and Reports on Form 8-K

(a) Exhibit Number:	Description

    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:
None.







                               16






           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: May 14, 2013




	                         17

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 March 31, 2013 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.


May 14, 2013


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

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 March 31, 2013:

	(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.





May 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.

XML

4. Segment Information and Concentrations (Details Narrative)	3 Months Ended		9 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2013	Mar. 31, 2012
Benchtop Laboratory Equipment [Member]
Net sales	71.00%	62.00%	69.00%	63.00%
TwoCustomers [Member] | Benchtop Laboratory Equipment [Member]
Net sales	27.00%	27.00%	24.00%	26.00%
Consolidated sales	20.00%	18.00%	17.00%	24.00%
Three Customers [Member] | Catalyst Research Instruments [Member]
Net sales	92.00%
Consolidated sales	20.00%
Two Different Customer[Member] | Catalyst Research Instruments [Member]
Net sales		92.00%
Consolidated sales		25.00%
ThreeCustomersMember | Catalyst Research Instruments [Member]
Net sales			49.00%
Consolidated sales			13.00%
Three Other Customers [Member] | Catalyst Research Instruments [Member]
Net sales				65.00%
Consolidated sales				15.00%

XML

3. Acquisition

9 Months Ended

Mar. 31, 2013

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.

In May 2013, the Company was advised of the death of Dr. Joseph Qualitz, the Chief Operating Officer of the seller. Pursuant to the research and development agreement, the Company has the option to terminate the agreement effective immediately unless the Company consents to a replacement who has the skills, education, experience and capabilities similar to those of Dr. Qualitz. No assurance can be given that such replacement will be made. The Company believes that a termination will not be materially adverse to the Company’s operations or financial condition as the research and development services can be performed by its staff, or if needed, through qualified subcontractors at no additional material increase in cost from that to be incurred if the research agreement was not terminated.

Pro forma results

The unaudited pro forma condensed consolidated financial information in the table below summarizes the consolidated results of operations of the Company on a pro forma basis, as though SBI 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 Nine Month
	Period Ended
	March 31,
	2012
Net sales	$	4,333,000
Net income (loss)	$	(12,900	)
Net income (loss)
per share - basic	$	(0.01	)
Net income (loss)
per share - diluted	$	(0.01	)

XML

7. Earnings (Loss) per common share (Details) (USD $)	3 Months Ended		9 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2013	Mar. 31, 2012
Earnings Loss Per Common Share Details
Net income/(loss)	$ 150,100	$ (8,200)	$ 226,300	$ (4,200)
Weighted average common shares outstanding	1,337,663	1,335,712	1,336,844	1,265,714
Effect of dilutive securities	4,701		4,543
Weighted average dilutive common shares outstanding	1,342,364	1,335,712	1,341,387	1,265,714
Basic earnings/(loss) per common share	$ 0.11	$ (0.01)	$ 0.17	$ 0.00
Diluted earnings/(loss) per common share	$ 0.11	$ (0.01)	$ 0.17	$ 0.00

XML

6. Inventories (Details) (USD $)	Mar. 31, 2013	Jun. 30, 2012
Inventories Details
Raw materials	$ 1,329,700	$ 1,146,800
Work-in-process	762,000	221,900
Finished goods	153,500	245,000
Inventory	$ 2,245,200	$ 1,613,700

XML

7. Earnings (Loss) per common share (Details Narrative)	3 Months Ended		9 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2013	Mar. 31, 2012
Equity [Abstract]
Common stock issuable upon the exercise of outstanding options	40,000	55,000	40,000	55,000

XML

8. Goodwill and Other Intangible Assets (Details) (USD $)	Mar. 31, 2013	Jun. 30, 2012
Cost	$ 1,661,000	$ 1,658,900
Accumulated Amortization	866,800	781,600
Net	794,200	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	386,300	339,300
Net	477,700	524,700
Customer relationships
Useful Lives Maximum	10 years	10 years
Cost	237,000	237,000
Accumulated Amortization	200,800	192,100
Net	36,200	44,900
Sublicense agreements
Useful Lives Maximum	10 years	10 years
Cost	294,000	294,000
Accumulated Amortization	40,400	18,400
Net	253,600	275,600
Non-compete agreements
Useful Lives Maximum	5 years	5 years
Cost	120,000	120,000
Accumulated Amortization	107,000	104,300
Net	13,000	15,700
Other intangible assets
Useful Lives Maximum	5 years	5 years
Cost	146,000	143,900
Accumulated Amortization	132,300	127,500
Net	$ 13,700	$ 16,400

XML

2. New Accounting Pronouncements

9 Months Ended

Mar. 31, 2013

Notes to Financial Statements

New Accounting Pronouncements

In February 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2013-02, Comprehensive Income (Topic 220)—Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (“ASU 2013-02”), to improve the reporting of reclassifications out of accumulated other comprehensive income. ASU 2013-02 requires an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required under U.S. GAAP to be reclassified in its entirety to net income. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety from accumulated other comprehensive income to net income in the same reporting period, an entity is required to cross-reference other disclosures required under U.S. GAAP that provide additional detail about those amounts. ASU 2013-02 became effective for the Company for this reporting period, however the adoption of ASU 2013-02 did not have an impact on the reporting of the Company’s financial statements.

In July 2012, the FASB issued Accounting Standards Update No. 2012-02, “Testing Indefinite-Lived Intangible Assets for Impairment” (“ASU 2012-02”), which allows entities to use a qualitative approach to test indefinite-lived intangible assets for impairment.  ASU 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 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 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		9 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2013	Mar. 31, 2012	Jun. 30, 2012
Goodwill And Other Intangible Assets Details Narrative
Estimated future amortization expense 2013	$ 29,000		$ 29,000
Estimated future amortization expense 2014	108,800		108,800
Estimated future amortization expense 2015	105,200		105,200
Estimated future amortization expense 2016	109,400		109,400
Estimated future amortization expense 2017	93,800		93,800
Estimated future amortization expense Thereafter	348,000		348,000
Total amortization expense	27,900	26,300	85,200	87,600
Goodwill	$ 589,900		$ 589,900		$ 589,900

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2013	Jun. 30, 2012
ASSETS
Cash and cash equivalents	$ 946,400	$ 769,300
Investment securities	729,500	718,300
Trade accounts receivable, net	731,700	623,500
Inventories	2,245,200	1,613,700
Prepaid expenses and other current assets	63,600	167,800
Deferred taxes	72,600	70,200
Total current assets	4,789,000	3,962,800
Property and equipment, net	161,600	180,500
Intangible assets, net	794,200	877,300
Goodwill	589,900	589,900
Other assets	24,100	25,700
Deferred taxes	114,700	136,000
Total assets	6,473,500	5,772,200
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable	139,600	114,800
Customer advances	503,200	98,500
Notes payable, current	77,700	75,800
Accrued expenses and taxes	381,200	237,500
Contingent consideration payable, current	19,000	19,000
Total current liabilities	1,120,700	545,600
Contingent consideration payable, less current portion	62,500	88,400
Notes payable, less current portion	46,500	105,000
Total liabilities	1,229,700	739,000
Shareholders' equity:
Common stock, $.05 par value; authorized 7,000,000 shares; 1,357,465 issued and outstanding at March 31, 2013 and 1,355,514 at June 30, 2012	67,900	67,800
Additional paid-in capital	1,976,200	1,968,700
Accumulated other comprehensive income (loss)	4,200	(12,600)
Retained earnings	3,247,900	3,061,700
Total	5,296,200	5,085,600
Less common stock held in treasury at cost, 19,802 shares	52,400	52,400
Total shareholders' equity	5,243,800	5,033,200
Total liabilities and shareholders' equity	$ 6,473,500	$ 5,772,200

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)	9 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Operating activities:
Net income (loss)	$ 226,300	$ (4,200)
Adjustments to reconcile net income to net cash provided by operating activities:
Loss on sale of investments	7,400
Depreciation and amortization	132,400	141,600
Deferred income tax benefit	16,200	1,700
Stock-based compensation	7,600	5,700
Changes in operating assets and liabilities:
Accounts receivable	(108,200)	51,000
Inventories	(631,500)	(492,600)
Prepaid expenses and other current assets	104,200	41,000
Accounts payable	24,800	23,500
Customer advances	404,700	307,100
Accrued expenses and taxes	143,700	5,900
Other assets	1,600
Total adjustments	102,900	84,900
Net cash provided by operating activities	329,200	80,700
Investing activities:
Intangible assets acquired in acquisition of SBI		(260,000)
Redemption of investment securities, available for sale	717,600
Purchase of investment securities, available for sale	(716,900)	(8,300)
Capital expenditures	(28,100)	(66,100)
Purchase of other intangible assets	(2,100)	(4,900)
Net cash used in investing activities	(29,500)	(339,300)
Financing activities:
Line of credit proceeds		60,000
Line of credit repayments		(60,000)
Payments of contingent consideration	(25,900)	(16,100)
Proceeds from exercise of stock options		9,600
Cash dividend declared and paid	(40,100)	(59,900)
Principal payments on note payable	(56,600)	(30,600)
Net cash used in financing activities	(122,600)	(97,000)
Net increase (decrease) in cash and cash equivalents	177,100	(355,600)
Cash and cash equivalents, beginning of year	769,300	907,800
Cash and cash equivalents, end of period	946,400	552,200
Supplemental disclosures
Cash paid during the period for: income taxes		3,300
Cash paid during the period for: interest	$ 3,800	$ 2,900

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3. Acquisition (Details) (USD $)	Mar. 31, 2013
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		9 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2013	Mar. 31, 2012
Depreciation and Amortization			$ 132,400	$ 141,600
Benchtop Laboratory Equipment [Member]
Net Sales	1,229,800	1,025,300	3,459,500	3,208,900
Foreign Sales	645,300	613,900	2,014,900	1,977,700
Profit (Loss)	243,300	80,700	518,100	341,300
Assets	2,719,500	2,446,300	2,719,500	2,446,300
Long-lived Asset Expenditures	1,700	7,500	10,900	21,500
Depreciation and Amortization	10,700	12,500	33,300	36,700
Catalyst Research Instruments [Member]
Net Sales	360,600	418,300	1,309,700	973,200
Foreign Sales	107,300	405,900	626,400	527,000
Profit (Loss)	3,600	(76,000)	(62,500)	(252,400)
Assets	1,932,600	1,239,700	1,932,600	1,239,700
Long-lived Asset Expenditures	1,200		19,300	49,500
Depreciation and Amortization	8,700	5,900	27,200	68,900
Bioprocessing Systems [Member]
Net Sales	35,700	75,900	85,500	75,900
Foreign Sales		3,600		3,600
Profit (Loss)	(41,700)	(16,300)	(147,600)	(48,600)
Assets	904,600	842,700	904,600	842,700
Long-lived Asset Expenditures				876,000
Depreciation and Amortization	24,000	24,000	71,900	36,000
Corporate and Other [Member]
Net Sales
Foreign Sales
Profit (Loss)		(4,100)		(62,300)
Assets	916,800	1,492,500	916,800	1,492,500
Long-lived Asset Expenditures
Depreciation and Amortization
Consolidated [Member]
Net Sales	1,626,100	1,519,500	4,854,700	4,258,000
Foreign Sales	752,600	1,023,400	2,641,300	2,508,300
Profit (Loss)	205,200	(15,700)	308,000	(22,000)
Assets	6,473,500	6,021,200	6,473,500	6,021,200
Long-lived Asset Expenditures	2,900	7,500	30,200	947,000
Depreciation and Amortization	$ 43,400	$ 42,400	$ 132,400	$ 141,600

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1. Summary of significant accounting policies

9 Months Ended

Mar. 31, 2013

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 $)	Mar. 31, 2013	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)

9 Months Ended

Mar. 31, 2013

Segment Reporting [Abstract]

Segment Information

Segment information is reported as follows:

	Benchtop Laboratory Equipment		Catalyst Research Instruments		Bioprocessing Systems			Corporate and Other		Consolidated
Three months ended March 31, 2013
Net Sales	$	1,229,800	$	360,600	$	35,700		$	-	$	1,626,100
Foreign Sales		645,300		107,300		-			-		752,600
Profit (Loss)		243,300		3,600		(41,700	)		-		205,200
Assets		2,719,500		1,932,600		904,600			916,800		6,473,500
Long-Lived Asset Expenditures		1,700		1,200		-			-		2,900
Depreciation and Amortization		10,700		8,700		24,000			-		43,400

	Benchtop Laboratory Equipment		Catalyst Research Instruments			Bioprocessing Systems			Corporate and Other			Consolidated
Three months ended March 31, 2012
Net Sales	$	1,025,300	$	418,300		$	75,900		$	-		$	1,519,500
Foreign Sales		613,900		405,900			3,600			-			1,023,400
Profit (Loss)		80,700		(76,000	)		(16,300	)		(4,100	)		(15,700	)
Assets		2,446,300		1,239,700			842,700			1,492,500			6,021,200
Long-Lived Asset Expenditures		7,500		-			-			-			7,500
Depreciation and Amortization		12,500		5,900			24,000			-			42,400

	Benchtop Laboratory Equipment		Catalyst Research Instruments			Bioprocessing Systems			Corporate and Other		Consolidated
Nine months ended March 31, 2013
Net Sales	$	3,459,500	$	1,309,700		$	85,500		$	-	$	4,854,700
Foreign Sales		2,014,900		626,400			-			-		2,641,300
Profit (Loss)		518,100		(62,500	)		(147,600	)		-		308,000
Assets		2,719,500		1,932,600			904,600			916,800		6,473,500
Long-Lived Asset Expenditures		10,900		19,300			-			-		30,200
Depreciation and Amortization		33,300		27,200			71,900			-		132,400

	Benchtop Laboratory Equipment		Catalyst Research Instruments			Bioprocessing Systems			Corporate and Other			Consolidated
Nine months ended March 31, 2012
Net Sales	$	3,208,900	$	973,200		$	75,900		$	-		$	4,258,000
Foreign Sales		1,977,700		527,000			3,600			-			2,508,300
Profit (Loss)		341,300		(252,400	)		(48,600	)		(62,300	)		(22,000	)
Assets		2,446,300		1,239,700			842,700			1,492,500			6,021,200
Long-Lived Asset Expenditures		21,500		49,500			876,000			-			947,000
Depreciation and Amortization		36,700		68,900			36,000			-			141,600

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Document and Entity Information (USD $)	9 Months Ended
	Mar. 31, 2013	Apr. 26, 2013
Document And Entity Information
Entity Registrant Name	SCIENTIFIC INDUSTRIES INC
Entity Central Index Key	0000087802
Document Type	10-Q
Document Period End Date	Mar. 31, 2013
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 Public Float		$ 0
Entity Common Stock, Shares Outstanding		1,337,663
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2013

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5. Fair Value of Financial Instruments (Tables)

9 Months Ended

Mar. 31, 2013

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 and liabilities that were accounted for at fair value on a recurring basis at March 31, 2013 and June 30, 2012 according to the valuation techniques the Company used to determine their fair values:

Fair Value Measurements Using Inputs Considered as
	Fair Value at March
Assets:	31, 2013		Level 1		Level 2		Level 3
Cash and cash equivalents	$	946,400	$	946,400	$	-	$	-
Available for sale securities		729,500		729,500		-		-
Total	$	1,675,900	$	1,675,900	$	-	$	-
Liabilities:
Contingent consideration	$	81,500	$	-	$	-	$	81,500

Fair Value Measurements Using Inputs Considered as
	Fair Value at June
Assets:	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 March 31, 2013 and June 30, 2012 consisted of the following:

	Cost		Fair Value		Unrealized Holding Gain (Loss)
At March 31, 2013:
Available for sale:
Equity securities	$	29,300	$	31,800	$	2,500
Mutual funds		696,000		697,700		1,700
	$	725,300	$	729,500	$	4,200

	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		9 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2013	Mar. 31, 2012
Income Statement [Abstract]
Net sales	$ 1,626,100	$ 1,519,500	$ 4,854,700	$ 4,258,000
Cost of sales	810,700	920,500	2,744,700	2,564,700
Gross profit	815,400	599,000	2,110,000	1,693,300
Operating expenses:
General and administrative	320,800	318,900	910,000	945,000
Selling	188,600	170,800	536,000	519,800
Research and development	100,800	125,000	356,000	250,500
Total operating expenses	610,200	614,700	1,802,000	1,715,300
Income (loss) from operations	205,200	(15,700)	308,000	(22,000)
Other income (expense):
Investment income	5,700	2,900	11,600	10,000
Other	600	3,100	1,500	9,000
Interest expense	(1,100)	(1,700)	(3,800)	(2,900)
Total Other Income	5,200	4,300	9,300	16,100
Income (loss) before income tax expense (benefit)	210,400	(11,400)	317,300	(5,900)
Income tax expense (benefit):
Current	53,600	(2,900)	74,800	(3,400)
Deferred	6,700	(300)	16,200	1,700
Total income (loss) tax expense (benefit)	60,300	(3,200)	91,000	(1,700)
Net income (loss)	$ 150,100	$ (8,200)	$ 226,300	$ (4,200)
Basic earnings (loss) per common share	$ 0.11	$ (0.01)	$ 0.17	$ 0.00
Diluted earnings (loss) per common share	$ 0.11	$ (0.01)	$ 0.17	$ 0.00
Cash dividends declared per common share	$ 0.00	$ 0.00	$ 0.03	$ 0.05

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6. Inventories

9 Months Ended

Mar. 31, 2013

Inventory Disclosure [Abstract]

Inventories

At interim reporting periods, inventories for financial statement purposes are based on perpetual inventory records. Components of inventory are as follows:

	March 31, 2013		June 30, 2012
Raw Materials	$	1,329,700	$	1,146,800
Work in process		762,000		221,900
Finished Goods		153,500		245,000
	$	2,245,200	$	1,613,700

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5. Fair Value of Financial Instruments

9 Months Ended

Mar. 31, 2013

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 concerning 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 valuations 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 and liabilities that were accounted for at fair value on a recurring basis at March 31, 2013 and June 30, 2012 according to the valuation techniques the Company used to determine their fair values:

Fair Value Measurements Using Inputs Considered as
	Fair Value at March
Assets:	31, 2013		Level 1		Level 2		Level 3
Cash and cash equivalents	$	946,400	$	946,400	$	-	$	-
Available for sale securities		729,500		729,500		-		-
Total	$	1,675,900	$	1,675,900	$	-	$	-
Liabilities:
Contingent consideration	$	81,500	$	-	$	-	$	81,500

Fair Value Measurements Using Inputs Considered as
	Fair Value at June
Assets:	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 March 31, 2013 and June 30, 2012 consisted of the following:

	Cost		Fair Value		Unrealized Holding Gain (Loss)
At March 31, 2013:
Available for sale:
Equity securities	$	29,300	$	31,800	$	2,500
Mutual funds		696,000		697,700		1,700
	$	725,300	$	729,500	$	4,200

	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 $)	9 Months Ended
	Mar. 31, 2012
Acquisition Details 1
Net sales	$ 4,333,000
Net income (loss)	$ (12,900)
Net income (loss) per share - basic	$ (0.01)
Net income (loss) per share - diluted	$ (0.01)

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6. Inventories (Tables)

9 Months Ended

Mar. 31, 2013

Inventory Disclosure [Abstract]

Inventories

At interim reporting periods, inventories for financial statement purposes are based on perpetual inventory records. Components of inventory are as follows:

	March 31, 2013		June 30, 2012
Raw Materials	$	1,329,700	$	1,146,800
Work in process		762,000		221,900
Finished Goods		153,500		245,000
	$	2,245,200	$	1,613,700

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1. Summary of significant accounting policies (Policies)

9 Months Ended

Mar. 31, 2013

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 February 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2013-02, Comprehensive Income (Topic 220)—Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (“ASU 2013-02”), to improve the reporting of reclassifications out of accumulated other comprehensive income. ASU 2013-02 requires an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required under U.S. GAAP to be reclassified in its entirety to net income. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety from accumulated other comprehensive income to net income in the same reporting period, an entity is required to cross-reference other disclosures required under U.S. GAAP that provide additional detail about those amounts. ASU 2013-02 became effective for the Company for this reporting period, however the adoption of ASU 2013-02 did not have an impact on the reporting of the Company’s financial statements.

In July 2012, the FASB issued Accounting Standards Update No. 2012-02, “Testing Indefinite-Lived Intangible Assets for Impairment” (“ASU 2012-02”), which allows entities to use a qualitative approach to test indefinite-lived intangible assets for impairment.  ASU 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 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 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

9 Months Ended

Mar. 31, 2013

Equity [Abstract]

Earnings (Loss) per common share

Basic earnings (losses) per common share are computed by dividing net income 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 Nine Month
	Periods Ended					Periods Ended
	March 31,					March 31,
	2013		2012			2013		2012
Net income (loss)	$	150,100	$	(8,200	)	$	226,300	$	(4,200	)
Weighted average common shares outstanding		1,337,663		1,335,712			1,336,844		1,265,714
Dilutive securities		4,701		-			4,543		-
Weighted average dilutive common shares outstanding		1,342,364		1,335,712			1,341,387		1,265,714
Basic earnings (loss) per common share	$	0.11	$	(0.01	)	$	0.17	$	(0.00)
Diluted earnings (loss) per common share	$	0.11	$	(0.01	)	$	0.17	$	(0.00)

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 nine month periods ended March 31, 2013, because the effect would be anti-dilutive.

Approximately 55,000 shares of the Company’s common stock issuable upon the exercise of outstanding options were excluded from the calculation of diluted loss per common share, for the three and nine month periods ended March 31, 2012, respectively, because the effect would be anti-dilutive due to the losses for the periods.

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8. Goodwill and Other Intangible Assets

9 Months Ended

Mar. 31, 2013

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 March 31, 2013 and June 30, 2012, respectively, all of which is deductible for tax purposes.

The components of other intangible assets are as follows:

	Useful Lives	Cost		Accumulated Amortization		Net
At March 31, 2013:
Technology, trademarks	5/10 yrs.	$	864,000	$	386,300	$	477,700
Customer relationships	10 yrs.		237,000		200,800		36,200
Sublicense agreements	10 yrs.		294,000		40,400		253,600
Non-compete agreements	5 yrs.		120,000		107,000		13,000
Other intangible assets	5 yrs.		146,000		132,300		13,700
		$	1,661,000	$	866,800	$	794,200

	Useful Lives	Cost		Accumulated 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 $27,900 and $26,300 for the three months ended March 31, 2013 and 2012, respectively and $85,200 and $87,600 for the nine months ended March 31, 2013 and 2012, respectively.  As of March 31, 2013, estimated future amortization expense related to intangible assets is $29,000 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)

9 Months Ended

Mar. 31, 2013

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

	For the Nine Month
	Period Ended
	March 31,
	2012
Net sales	$	4,333,000
Net income (loss)	$	(12,900)
Net income (loss)
per share - basic	$	(0.01)
Net income (loss)
per share - diluted	$	(0.01)

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8. Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Mar. 31, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

The components of other intangible assets are as follows:

	Useful Lives	Cost		Accumulated Amortization		Net
At March 31, 2013:
Technology, trademarks	5/10 yrs.	$	864,000	$	386,300	$	477,700
Customer relationships	10 yrs.		237,000		200,800		36,200
Sublicense agreements	10 yrs.		294,000		40,400		253,600
Non-compete agreements	5 yrs.		120,000		107,000		13,000
Other intangible assets	5 yrs.		146,000		132,300		13,700
		$	1,661,000	$	866,800	$	794,200

	Useful Lives	Cost		Accumulated 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

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5. Fair Value of Financial Instruments (Details) (USD $)	Mar. 31, 2013	Jun. 30, 2012	Mar. 31, 2012	Jun. 30, 2011
Cash and cash equivalents	$ 946,400	$ 769,300	$ 552,200	$ 907,800
Available for sale securities	729,500	718,300
Total	1,675,900	1,487,600
Contingent consideration	81,500	107,400
Level 1
Cash and cash equivalents	946,400	769,300
Available for sale securities	729,500	718,300
Total	1,675,900	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	$ 81,500	$ 107,400

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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $)	3 Months Ended		9 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2013	Mar. 31, 2012
Condensed Consolidated Statements Of Comprehensive Income Loss
Net income (loss)	$ 150,100	$ (8,200)	$ 226,300	$ (4,200)
Other comprehensive income:
Unrealized holding gain arising during period, net of tax	3,900	7,500	16,800	8,900
Comprehensive income (loss)	$ 154,000	$ (700)	$ 243,100	$ 4,700

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4. Segment Information and Concentrations

9 Months Ended

Mar. 31, 2013

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:

	Benchtop Laboratory Equipment		Catalyst Research Instruments		Bioprocessing Systems			Corporate and Other		Consolidated
Three months ended March 31, 2013
Net Sales	$	1,229,800	$	360,600	$	35,700		$	-	$	1,626,100
Foreign Sales		645,300		107,300		-			-		752,600
Profit (Loss)		243,300		3,600		(41,700	)		-		205,200
Assets		2,719,500		1,932,600		904,600			916,800		6,473,500
Long-Lived Asset Expenditures		1,700		1,200		-			-		2,900
Depreciation and Amortization		10,700		8,700		24,000			-		43,400

	Benchtop Laboratory Equipment		Catalyst Research Instruments			Bioprocessing Systems			Corporate and Other			Consolidated
Three months ended March 31, 2012
Net Sales	$	1,025,300	$	418,300		$	75,900		$	-		$	1,519,500
Foreign Sales		613,900		405,900			3,600			-			1,023,400
Profit (Loss)		80,700		(76,000	)		(16,300	)		(4,100	)		(15,700	)
Assets		2,446,300		1,239,700			842,700			1,492,500			6,021,200
Long-Lived Asset Expenditures		7,500		-			-			-			7,500
Depreciation and Amortization		12,500		5,900			24,000			-			42,400

Approximately 71% and 62% of net sales of benchtop laboratory equipment for the three month periods ended March 31, 2013 and 2012, respectively, were derived from the Company=s main product, the Vortex-Genie 2 mixer, excluding accessories.

Two benchtop laboratory equipment customers accounted for approximately 27% of the segment=s net sales for each of the three month periods ended March 31, 2013 and 2012 (20% and 18% of total net sales, respectively, for the periods).

Sales of catalyst research instruments are generally pursuant to large orders averaging more than $100,000 per order to a limited numbers of customers.  Sales to three customers in the three months ended March 31, 2013 and two different customers in the three months ended March 31, 2012, accounted respectively for 92% of the segment=s net sales for each of the periods (20% and 25% of total net sales for the respective periods).

	Benchtop Laboratory Equipment		Catalyst Research Instruments			Bioprocessing Systems			Corporate and Other		Consolidated
Nine months ended March 31, 2013
Net Sales	$	3,459,500	$	1,309,700		$	85,500		$	-	$	4,854,700
Foreign Sales		2,014,900		626,400			-			-		2,641,300
Profit (Loss)		518,100		(62,500	)		(147,600	)		-		308,000
Assets		2,719,500		1,932,600			904,600			916,800		6,473,500
Long-Lived Asset Expenditures		10,900		19,300			-			-		30,200
Depreciation and Amortization		33,300		27,200			71,900			-		132,400

	Benchtop Laboratory Equipment		Catalyst Research Instruments			Bioprocessing Systems			Corporate and Other			Consolidated
Nine months ended March 31, 2012
Net Sales	$	3,208,900	$	973,200		$	75,900		$	-		$	4,258,000
Foreign Sales		1,977,700		527,000			3,600			-			2,508,300
Profit (Loss)		341,300		(252,400	)		(48,600	)		(62,300	)		(22,000	)
Assets		2,446,300		1,239,700			842,700			1,492,500			6,021,200
Long-Lived Asset Expenditures		21,500		49,500			876,000			-			947,000
Depreciation and Amortization		36,700		68,900			36,000			-			141,600

Approximately 69% and 63% of net sales of benchtop laboratory equipment for the nine month periods ended March 31, 2013 and 2012, respectively, were derived from the Company=s main product, the Vortex-Genie 2 mixer, excluding accessories.

Two benchtop laboratory equipment customers, accounted for approximately 24% and 26% of the segment=s net sales (17% and 24% of total net sales) for the nine month periods ended March 31, 2013 and 2012, respectively.

Sales of catalyst research instruments to three customers in the nine months ended March 31, 2013 and to three other customers in the nine months ended March 31, 2012 accounted for approximately 49% and 65% of that segment=s net sales (13% and 15% of total net sales) for the respective nine month periods.

The Company=s foreign sales are principally made to customers in Europe and Asia.

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5. Fair Value of Financial Instruments (Details 1) (USD $)	Mar. 31, 2013	Jun. 30, 2012
Fair Value	$ 1,675,900	$ 1,487,600
Equity Securities
Cost	29,300	5,900
Fair Value	31,800	16,000
Unrealized Holding Gain (Loss)	2,500	10,100
Mutual Funds
Cost	696,000	725,000
Fair Value	697,700	702,300
Unrealized Holding Gain (Loss)	1,700	(22,700)
Available for Sale
Cost	725,300	730,900
Fair Value	729,500	718,300
Unrealized Holding Gain (Loss)	$ 4,200	$ (12,600)

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

9 Months Ended

Mar. 31, 2013

Equity [Abstract]

Earnings per common share

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

	For the Three Month					For the Nine Month
	Periods Ended					Periods Ended
	March 31,					March 31,
	2013		2012			2013		2012
Net income (loss)	$	150,100	$	(8,200	)	$	226,300	$	(4,200	)
Weighted average common shares outstanding		1,337,663		1,335,712			1,336,844		1,265,714
Dilutive securities		4,701		-			4,543		-
Weighted average dilutive common shares outstanding		1,342,364		1,335,712			1,341,387		1,265,714
Basic earnings (loss) per common share	$	0.11	$	(0.01	)	$	0.17	$	(0.00	)
Diluted earnings (loss) per common share	$	0.11	$	(0.01	)	$	0.17	$	(0.00	)