Mon, Jul 15, 8:58 PM (54 days ago)
ADM Tronics Unlimited, Inc. reported a 19% revenue decline for the fiscal year ended March 31, 2024, with net revenues of $2,965,406. The electronics segment saw a drop of $370,559, the engineering segment decreased by $182,946, and the chemical segment fell by $157,874. Operating expenses rose, primarily due to a $273,032 increase in selling, general, and administrative costs, and a $35,719 rise in research and development expenses. Consequently, the company reported a net loss of $877,222, or ($0.01) per share. Cash and cash equivalents decreased to $537,041, primarily due to cash used in operations. The company faces substantial doubt about its ability to continue as a going concern due to ongoing losses and negative cash flows. Future liquidity is expected to come from operating activities, but the company may need additional financing to meet its capital needs.