10-K

FORM 10-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES

EXCHANGE ACT OF 1934

For the fiscal year ended March 31, 2015

[_] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES

EXCHANGE ACT OF 1934

For the transition period from __________ to __________

COMMISSION FILE NUMBER 0-17629

ADM TRONICS UNLIMITED, INC.

(Name of registrant as specified in its charter)

Delaware	22-1896032
(State or other jurisdiction of	(I.R.S. Employer Identification No.)
incorporation or organization)

224 Pegasus Avenue, Northvale, New Jersey 07647

(Address of Principal Executive Offices)     (Zip Code)

Registrant’s telephone number (201) 767-6040

SECURITIES REGISTERED PURSUANT TO SECTION 12(B) OF THE ACT: None

SECURITIES REGISTERED PURSUANT TO SECTION 12(G) OF THE ACT:

COMMON STOCK, $.0005 PAR VALUE

(Title of Class)

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

Yes [ ] No [X]

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.

Yes [ ] No [X]

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes [X] No [ ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 229.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes [X] No [ ]

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.  [X]

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. (Check one):

Large accelerated filer [ ] Accelerated filer [ ] Non-accelerated filer [ ] (Do not check if a smaller reporting company) Smaller reporting company [X]

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

Yes [ ] No [X]

The aggregate market value of voting stock held by non-affiliates of the registrant as of September 30, 2014, the last business day of the registrant’s most recently completed second fiscal quarter was $4,687,038.

The number of shares of the Common Stock outstanding as of July 14, 2015 was 64,939,537.

DOCUMENTS INCORPORATED BY REFERENCE

Not applicable. 

FORWARD LOOKING STATEMENTS

This Annual Report on Form 10-K contains various forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and information that is based on management's beliefs as well as assumptions made by and information currently available to management. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. When used in this report, the words "anticipate," "believe," "estimate," "expect," "predict," "project" and similar expressions are intended to identify forward-looking statements. We cannot guarantee the accuracy of the forward-looking statements, and you should be aware that our actual results could differ materially from those contained in the forward-looking statements due to a number of factors, including the statements under "Risk Factors" set forth in "Item 1 - Description of Business" and the statements under "Critical Accounting Policies" set forth in "Item 6 - Management's Discussion and Analysis or Plan of Operation." Due to these uncertainties and risks, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this Annual Report on Form 10-K.

Unless otherwise indicated in this prospectus, references to "we," "us," "our" or the "Company" refer to ADM Tronics Unlimited, Inc. and its subsidiaries.

PART I

ITEM 1. BUSINESS

COMPANY OVERVIEW

The Company is a technology-based developer and manufacturer of diversified lines of products and derives revenue from the production and sale of environmentally safe chemical products for industrial, medical and cosmetic uses; electronics for non-invasive medical and other applications; and, research, development, regulatory and engineering services.

The Company is a corporation that was organized under the laws of the State of Delaware on November 24, 1969. Our operations are conducted through ADM Tronics Unlimited, Inc. ("ADM") and its subsidiary Sonotron Medical Systems, Inc. ("SMI"). In addition, the Company owns a minority interest in Montvale Technologies, Inc, (formerly known as Ivivi Technologies, Inc.) (“ITI”), which until October 18, 2006 was operated as a subsidiary of the Company. ITI was deconsolidated as of October 18, 2006 upon the consummation of ITI’s initial public offering, as we no longer owned a majority of the outstanding common stock of ITI and do not control ITI’s operations, but can exert significant influence based on the percentage of ITI’s stock owned by us. As a result, our investment in ITI from October 18, 2006 through March 31, 2008 was reported under the equity method of accounting. Since April 1, 2008, we report our investment in ITI at fair value. We owned approximately 28.9% of the outstanding capital stock of ITI. On February 12, 2010 substantially all of the assets of ITI were sold to Ivivi Health Sciences, LLC (“IHS”) an unaffiliated entity controlled by ITI’s former Chairman of the Board. Concurrent with such asset sale, the Company entered into agreements with IHS for services related to engineering and regulatory matters, and the previous manufacturing agreement with ITI was assigned to IHS. On October 1, 2013 the Company entered into an exclusive distribution agreement for the IHS products manufactured by the Company and sold for human medical applications pursuant to the FDA 510(k) clearance for such products and the previous engineering, regulatory and manufacturing agreements were terminated and replaced with an engineering and regulatory agreement in support of IHS’s research and development activities in neurological applications of its technology.

COMPANY PRODUCTS AND SERVICES

ENVIRONMENTALLY SAFE CHEMICAL PRODUCTS FOR INDUSTRIAL USES

We develop, manufacture and sell chemical products to industrial users. Such products consist primarily of the following:

● Water-based primers and adhesives;

● Water-based coatings and resins;

● Water-based chemical additives; and

● Anti-static conductive paints, coating and other products.

Water-based primers and adhesives are chemical compounds used to bind different plastic films, metal foils and papers. Examples are the binding of polyethylene to polyester, nylon, vinyl, aluminum, polypropylene, paper and cellophane. Our water-based primers and adhesives are similar in function to solvent-based primers that are widely used to bind plastic films, papers and foils. Solvent-based systems have come under criticism since they have been found to be highly pollutant, dangerous to health and generally caustic in nature. Based upon our experience since 1969, including information furnished to us by certain of our customers, we believe that water-based systems have no known polluting effects and pose no known health hazards. There can, of course, be no assurance that any governmental restrictions will not be imposed on our water-based products or that such products will be accepted as replacements for solvent based products.

Water-based coatings and resins for the printing industry are used to impart properties to the printed substrate. Our coatings and resins can be used to coat printed material for glossy or aesthetic appeal to make such material virtually impervious to certain types of grease and to impart other characteristics required or desired for various products and specifications.

Certain of our water-based chemical additives are used to impart properties to inks and other chemical products used in the food packaging and printing industries. These additives are used for their ability to improve the performance of such products.

On July 17, 2009, we purchased substantially all of the assets of Anti-static Industries of Delaware, Inc., which is now a division of the Company. Antistatic Industries of Delaware, Inc. was a company involved in the research, development and manufacture of water-based and proprietary electrically conductive paints, coatings and other products and accessories. We now develop and manufacture a full-line of anti-static products for commercial and industrial use through a division of our company that we refer to as “Antistatic Industries”. Antistatic Industries develops and distributes proprietary conductive paints, coatings and other products and accessories which can be used by electronics, computer, pharmaceutical and chemical companies to prevent, reduce or eliminate static electricity. Many industries are concerned with static electricity as it can be hazardous to personnel and damage corporate facilities, computers, electronic equipment and valuable parts. Antistatic Industries has a wide range of products including paints, hoses, garments, floor mats, rugs, strapping, tapes, hook-and-loop, adhesive products and many other specialized items, all with conductive properties. Antistatic Industries has also pioneered low volatile organic compound conductive and antistatic paint and coating formulations that can be used as replacements for paints and coatings made from hazardous solvents. Antistatic Industries seeks to continually develop new products through research and development for new and current customers to aid in their quest for maximum protection with less waste and rejects in their manufacturing processes by reducing or eliminating static electricity.

None of our chemical products are protected by patents, although the names of some of such products have been protected by trademarks. We do not believe that any such trademarks are material to our business. As of March 31, 2015, the dollar amount of backlog orders for our chemical products believed by us to be firm was not material.

MEDICAL AND COSMETIC PRODUCTS

The Company has developed several medical and cosmetic topical products. The Company’s proprietary water-based, adhesive and related topical formulations are used for maxillofacial prosthetic medical applications and for professional makeup applications primarily for special makeup effects for film, TV and theatrical productions.

CONTRACT MANUFACTURING

The Company derives revenues from contract manufacturing of electronic medical and other devices from its previous affiliate ITI, IHS and other customers. During the years ended March 31, 2015 and 2014, revenues from ITI and IHS contract manufacturing were approximately $-0- and $52,648, respectively, or 0% and 2.9% of total revenues, respectively.

SONOTRON TECHNOLOGY

SMI, a majority-owned subsidiary of ADM, has developed a technology, known as the Sonotron Technology, to treat subjects suffering from the pain of inflammatory joint conditions. Although some of the devices utilizing this technology are commercially available for the treatment of animals, none of such devices have received clearance from the U.S. Food and Drug Administration (the "FDA") for human application in the United States. Pursuant to a manufacturing agreement, the Company is the exclusive manufacturer of the Sonotron devices. The Sonotron Technology is the subject of a United States patent (the "Sonotron Patent"), which expires in April 2016. 

ACTION 

Prior to ceasing operations on April 1, 2013, Action, our wholly-owned subsidiary, was a manufacturer of electronic controllers for spas and hot tubs. As of April 1, 2013 the assets of Action were acquired by the Company and Action ceased operations. The Company now manufactures and sells the electronic controllers for spas and hot tubs.

RESEARCH, DEVELOPMENT, REGULATORY AND ENGINEERING SERVICES

The Company provides research, development, regulatory and engineering services to unaffiliated customers for the design, development and manufacturing of medical devices, electronics and other technologies and products (the “Engineering Services”). The Engineering Services are provided by the Company to customers both on a fee-for-services basis and on a project basis.

CUSTOMERS 

During the year ended March 31, 2015, two customers accounted for 38% of our net revenue. During the year ended March 31, 2014, two customers accounted for 19% of our net revenue. As of March 31, 2015, one customer represented 43% of our accounts receivable. As of March 31, 2014, two customers represented 33% of our accounts receivable. The loss of these major customers could have a material impact on our operations and cash flow.

MARKETING AND DISTRIBUTION

A majority of ADM's product sales are distributed to customers directly from ADM's headquarters. Customers place purchase orders with the Company and products are then shipped via common carrier delivery on an "FOB shipping point" basis. A portion of the sales are accomplished through distributors who place purchase orders with ADM for certain quantities of its products which are shipped by common carrier to their respective warehouses. These stocking distributors then ship product to the ultimate customer via common carrier from their inventory of ADM's products. Engineering Services are provided through written agreements with customers both on a fee-for-services basis and a project basis.

MANUFACTURER AND SUPPLIERS

MANUFACTURER

ADM manufactures its chemical products and SMI and other customers’ electronic products at its facilities located in Northvale, New Jersey.

ADM warranties the products it manufactures for SMI against defects in material and workmanship for a period of 90 days after the completion of manufacture. After such 90-day period, ADM has agreed to provide repair services for the products at its customary hourly repair rate plus the cost of any parts, components or items necessary to repair the products. 

Under contract manufacturing agreements, all inventions, patentable or otherwise, trade secrets, discoveries, ideas, writings, technology, know-how, improvements or other advances or findings relating to the entities' products and technologies shall be and become the exclusive proprietary and confidential information of such entity or any person to whom such entity may have assigned rights therein. The Company has no rights in any such proprietary or confidential information and is prohibited from using or disclosing any of such proprietary or confidential information for its own benefit or purposes, or for the benefit or purpose of any other person other than the entity without such entity's prior written consent. ADM has also agreed to cooperate with each entity in securing for it any patents, copyrights, trademarks or the like which it may seek to obtain in connection therewith. If ADM breaches any of the confidentiality agreements contained in the manufacturing agreement, or if these agreements are not sufficient to protect the entity's technology or are found to be unenforceable, the entity's competitors could acquire and use information that it considers to be our trade secrets and the entity may not be able to compete effectively.

Since ADM is the exclusive manufacturer of all of SMI's current and future products under the manufacturing agreement, if the operations of ADM are interrupted or if orders or orders of other customers of the Company exceed our manufacturing capabilities, we may not be able to deliver products on time and the entities may not be able to deliver their respective products to their respective customers on time. Under the terms of the manufacturing agreement, if ADM is unable to perform its obligations thereunder or is otherwise in breach of any provision thereof, SMI has the right, without penalty, to engage third parties to manufacture some or all of its products. In addition, if SMI elects to utilize a third-party manufacturer to supplement the manufacturing being completed by ADM, SMI has the right to require us to accept delivery of the products from these third-party manufacturers, finalize the manufacture of the products to the extent necessary to comply with FDA regulations and ensure that the design, testing, control, documentation and other quality assurance procedures during all aspects of the manufacturing process have been met.

As a manufacturer of medical devices ADM is required to comply with quality requirements, which require manufacturers, including third-party manufacturers, to follow stringent design, testing, control, documentation and other quality assurance procedures during all aspects of the manufacturing process. In addition, our manufacturing facility is required to be registered as a medical device manufacturing facility with the FDA and is subject to inspection by the FDA. The Company has been registered by the FDA as a Registered Medical Device Establishment since 1988 allowing it to manufacture medical devices in accordance with procedures outlined in FDA regulations, which include quality control and related activities. Such registration is renewable annually and although we do not believe that the registration will fail to be renewed by the FDA, there can be no assurance of such renewal.

SUPPLIERS 

We purchase the raw materials, parts, components and other items required to manufacture our products. We rely on a limited number of suppliers for such raw materials, parts, components and other items. Although there are many suppliers for each of these raw materials, parts, components and other items, we are dependent on a limited number of suppliers for many of the significant raw materials and components due to our customers’ requirements. We do not have any long-term or exclusive purchase commitments with any of our suppliers. The failure to maintain existing relationships with suppliers or to establish new relationships in the future could also negatively affect our ability to obtain raw materials and components used in the products in a timely manner. If we are unable to obtain ample supply of product from our existing suppliers or alternative sources of supply, we may be unable to satisfy orders which could reduce our revenues and adversely affect relationships with our customers.  Accordingly, in order to satisfy its customers' needs, we have maintained an inventory ranging, in dollar amounts, from 15% to 30% of sales of chemical products in the form of either raw materials or finished goods.

RESEARCH AND DEVELOPMENT

During our fiscal years ended March 31, 2015 and 2014, research and development expenses with respect to company-sponsored research and development activities were approximately $38,055 and $34,859 respectively, of which $35,676 and $34,859 was incurred in our chemical business. During such fiscal years, we did not expend any funds on customer-sponsored research and development activities with respect thereto.

COMPETITION

Our businesses are highly competitive and substantially all of our competitors possess greater experience, financial resources, operating history and marketing capabilities than us. Although we do not believe that there are one or more dominant competitors in such industries, there can be no assurance that we will be able to effectively compete with any or all of our competitors on the basis of price, service or otherwise. Competitors may be better able to withstand a change in conditions and throughout the economy as a whole. In addition, current and anticipated future consolidation among our competitors and customers may cause us to lose market share as well as put downward pressure on pricing. Furthermore, there is a trend in industry toward relocation of manufacturing facilities to lower-cost regions such as Asia. Such relocation may permit some of our competitors to lower their costs and improve their competitive position. If we do not compete successfully, our business, operating margins, financial condition, cash flows and profitability could be adversely affected.

Our results of operations depend, in part, on our ability to expand our product offerings. We are committed to remaining a competitive producer and believe that our portfolio of new or re-engineered products is strong. However, we may not be able to develop new products, re-engineer existing products successfully or bring them to market in a timely manner. While we believe that the products, pricing and services we offer customers are competitive, we may not be able to continue to attract and retain customers to which we sell our products.

INSURANCE

The Company may be exposed to potential product liability claims by those who use our products. Therefore, we maintain a general liability insurance policy, which includes aggregate product liability coverage of $3,000,000 for certain of our products. We believe that our present insurance coverage is adequate for the types of products we currently market. There can be no assurance, however, that such insurance will be sufficient to cover potential claims or that the present level of coverage will be available in the future at a reasonable cost.

EMPLOYEES

As of March 31, 2015, we had 15 full-time employees and 5 part-time employees. As of such date, we had one salaried employee in an executive or managerial position. As of March 31, 2014, we had 13 full-time employees and 3 part-time employees. As of such date, we had one salaried employee in an executive or managerial position. 

ITEM 1A. RISK FACTORS

An investment in our stock involves a high degree of risk. You should carefully consider the following information, together with other information in this annual report, before buying shares of our stock. If any of the following risks or uncertainties occur, our business, financial condition and results of operations could be materially and adversely affected, the trading price of our stock could decline and you may lose all or a part of the money you paid to buy our stock. 

RISKS RELATING TO OUR OPERATIONS

NEW ENVIRONMENTAL OR OTHER REGULATIONS COULD INCREASE THE COMPANY'S OPERATING COSTS.

Like other manufacturers, the Company is subject to a broad range of Federal, state and local laws and requirements, including those governing discharges in the air and water, the handling and disposal of solid and hazardous substances and wastes, the remediation of contamination associated with the release of hazardous substances, work place safety and equal employment opportunities. We have made expenditures to comply with such laws and requirements. We believe, based on information currently available to management, that we are in compliance with applicable environmental and other legal requirements and that we will not require material capital expenditures to maintain compliance with such requirements in the foreseeable future. Governmental authorities have the power to enforce compliance with such laws and regulations, and violators may be subject to penalties, injunctions or both. Third parties may also have the right to enforce compliance with such laws and regulations. As ADM develops new products, those products may become subject to additional review and approval requirements governing the sale and use of its products. Although our manufacturing processes do not currently result in the generation of hazardous wastes, this may not always be the case and material costs or liabilities may be incurred by us in the future as a result of the manufacturing operations. It is also possible that other developments, such as additional or increasingly strict requirements of laws and regulations of these types, or enforcement policies there under, could significantly increase our costs of operations.

BECAUSE WE USE VARIOUS MATERIALS AND SUBSTANCES IN MANUFACTURING OUR CHEMICAL PRODUCTS, OUR PRODUCTION FACILITIES ARE SUBJECT TO OPERATING HAZARDS THAT COULD CAUSE PERSONAL INJURY AND LOSS OF LIFE, SEVERE DAMAGE TO, OR DESTRUCTION OF, PROPERTY AND EQUIPMENT AND ENVIRONMENTAL CONTAMINATION.

We are dependent on the continued operation of our production and distribution facility. This facility is subject to hazards associated with the manufacture, handling, storage and transportation of chemical materials and products, including natural disasters, mechanical failure, unscheduled downtime, labor difficulties, transportation interruptions, and environmental hazards, such as spills, discharges or releases of toxic or hazardous substances and remediation complications. These hazards can cause personal injury and loss of life, severe damage to, or destruction of, property and equipment and environmental contamination and other environmental damage and could have a material adverse effect on our financial condition. In addition, due to the nature of our business operations, we could become subject to scrutiny from environmental action groups.

WE RELY SIGNIFICANTLY ON RAW MATERIALS IN THE PRODUCTION OF OUR PRODUCTS AND FLUCTUATIONS IN COSTS OF SUCH RAW MATERIALS WOULD INCREASE OUR OPERATING EXPENSES.

Our manufacturing operations depend upon obtaining adequate supplies of our raw materials on a timely basis. The loss of a key source of supply or a delay in shipments could have an adverse effect on our business. We are exposed to price risks associated with these raw material purchases. The availability and prices of raw materials may be subject to curtailment or change due to, among other things, new laws or regulations, suppliers' allocations to other purchasers, interruptions in production by suppliers, changes in exchange rates, cost components of raw materials and worldwide price levels. Our results of operations could be adversely affected if we are unable to obtain adequate supplies of raw materials in a timely manner or if the costs of raw materials increased significantly.

WE FACE COMPETITION FROM OTHER COMPANIES, WHICH COULD ADVERSELY AFFECT OUR REVENUE AND FINANCIAL CONDITION.

We actively compete with companies producing the same or similar products and, in some instances, with companies producing different products designed for the same uses. We encounter competition in price, delivery, service, performance, product innovation and product recognition and quality, depending on the product involved. For some of our products, our competitors are larger and have greater financial resources. As a result, these competitors may be better able to withstand a change in conditions within the industries in which we operate, a change in the prices of raw materials or a change in the economy as a whole. Our competitors can be expected to continue to develop and introduce new and enhanced products, which could cause a decline in market acceptance of our products. Current and future consolidation among our competitors and customers may also cause a loss of market share as well as put downward pressure on pricing. Our competitors could cause a reduction in the prices for some of our products as a result of intensified price competition. Competitive pressures can also result in the loss of major customers. If we cannot compete successfully, our business, financial condition and results of operations could be adversely affected. 

WE FACE COMPETITION FROM OTHER COMPANIES, WHICH COULD FORCE US TO LOWER OUR PRICES THEREBY ADVERSELY AFFECTING OUR OPERATING MARGINS, FINANCIAL CONDITION, CASH FLOWS AND PROFITABILITY.

The markets in which we operate are highly competitive, and this competition could harm our business, results of operations, cash flow and financial condition. Our competitors include major international producers as well as smaller regional competitors. We believe that a significant competitive factor for our products is selling price. We could be subject to adverse results caused by our competitors' pricing decisions. In addition, current and possible future consolidation among our competitors and customers may cause us to lose market share as well as put downward pressure on pricing. Furthermore, there is a trend toward relocation of manufacturing facilities to lower-cost regions. Such relocation may permit some of our competitors to lower their costs and improve their competitive position. Some of our competitors are larger, have greater financial resources and have less debt than we do. As a result, those competitors may be better able to withstand a change in conditions and throughout the economy as a whole. If we do not compete successfully, our business, operating margins, financial condition, cash flows and profitability could be adversely affected.

FAILURE TO DEVELOP NEW CHEMICAL PRODUCTS AND/OR IMPROVE OUR EXISTING PRODUCTS WILL MAKE US LESS COMPETITIVE.

Our results of operations depend, in part, on our ability to expand our product offerings. We are committed to remaining a competitive producer and believe that our portfolio of new or re-engineered products is strong. However, we may not be able to continue to develop new products, re-engineer our existing products successfully or bring them to market in a timely manner. While we believe that the products, pricing and services we offer customers are competitive, we may not be able to continue to attract and retain customers to whom we sell our products.

FAILURE TO MAKE CONTINUED IMPROVEMENTS IN OUR PRODUCTIVITY COULD HURT OUR COMPETITIVE POSITION.

In order to obtain and maintain a competitive position, we believe that we must continue to make improvements in our productivity. When we invest in new technologies or processes, we face risks related to cost overruns and unanticipated technical difficulties. Our inability to anticipate, respond to or utilize changing technologies could have a material adverse effect on our business and our results of operations.

CHANGES IN OUR CUSTOMERS' PRODUCTS COULD REDUCE THE DEMAND FOR OUR CHEMICAL PRODUCTS, WHICH MAY DECREASE OUR NET SALES AND OPERATING MARGINS.

Our chemical products are used for a broad range of applications by our customers. Changes, including technological changes, in our customers' products or processes may make our chemical products unnecessary, which would reduce the demand for those products. Other customers may find alternative materials or processes that no longer require our products. If the demand for our chemical products is reduced, our net sales and operating margins may be reduced as well.

WE HAVE FEW PROPRIETARY RIGHTS WITH RESPECT TO OUR CHEMICAL PRODUCTS, THE LACK OF WHICH MAY MAKE IT EASIER FOR OUR COMPETITORS TO COMPETE AGAINST US.

None of our chemical products are protected by patents. We do attempt to protect the names of some of our chemical products through trademarks and some of our other limited proprietary property through trade secret, nondisclosure and confidentiality measures; however, such protections may not preclude competitors from developing similar technologies.

CUSTOMERS OUTSOURCE THE MANUFACTURING OF THEIR PRODUCTS TO US AND IF OUR OPERATIONS ARE INTERRUPTED OR IF OUR ORDERS EXCEED OUR MANUFACTURING CAPABILITIES, THEY MAY NOT BE ABLE TO DELIVER THEIR PRODUCTS TO CUSTOMERS ON TIME.

We operate a single facility and have limited capacity that may be inadequate if customers place orders for unexpectedly large quantities of products, or if our other customers place large orders of products. In addition, if our operations were halted or restricted, even temporarily, or we are unable to fulfill large orders, our customers could experience business interruption, increased costs, damage to their reputations and loss of their customers. Although customers have the right to utilize other manufacturers, such manufacturers of their products need to be licensed with the FDA, and identifying and qualifying a new manufacturer to replace us as the manufacturer of their products could take several months during which time, they would likely lose customers and our revenues could be materially delayed and/or reduced. In addition, our failure to produce such products could result in claims against us. See "Item 1. Business - Manufacturer and Suppliers."

WE DEPEND ON A LIMITED NUMBER OF SUPPLIERS FOR THE COMPONENTS AND RAW MATERIALS USED IN OUR PRODUCTS AND THE PRODUCTS MANUFACTURED FOR THIRD PARTIES, AND ANY INTERRUPTION IN THE AVAILABILITY OF THESE COMPONENTS AND RAW MATERIALS COULD REDUCE OUR REVENUE.

We rely on a limited number of suppliers for the components and raw materials used in the products that we manufacture for others. Although there are many suppliers for each of the component parts and raw materials, we are dependent on a single or limited number of suppliers for many of the significant components and raw materials due to our customers’ specifications. This reliance involves a number of significant risks, including:

● unavailability of materials and interruptions in delivery of components and raw materials from suppliers;

● manufacturing delays caused by such unavailability or interruptions in delivery; and

● fluctuations in the quality and the price of components and raw materials.

We do not have any long-term or exclusive purchase commitments with any of our suppliers. Failure to maintain existing relationships with suppliers or to establish new relationships in the future could also negatively affect our ability to obtain components and raw materials used in these products in a timely manner. If we are unable to obtain ample supply of product from existing suppliers or alternative sources of supply, we may be unable to satisfy our customers' orders which could reduce our revenues and adversely affect our relationships with these customers. See "Item 1. Business - Manufacturers and Suppliers."

OUR ABILITY TO EXECUTE OUR BUSINESS PLAN DEPENDS ON THE SCOPE OF OUR INTELLECTUAL PROPERTY RIGHTS AND NOT INFRINGING THE INTELLECTUAL PROPERTY RIGHTS OF OTHERS. THE VALIDITY, ENFORCEABILITY AND COMMERCIAL VALUE OF THESE RIGHTS ARE HIGHLY UNCERTAIN.

Our ability to compete effectively with other companies is materially dependent upon the proprietary nature of our technologies. We rely primarily on patents and trade secrets to protect our products.

Third parties may seek to challenge, invalidate, circumvent or render unenforceable any patents or proprietary rights owned by us based on, among other things:

● subsequently discovered prior act;

● lack of entitlement to the priority of an earlier, related application; or

● failure to comply with the written description, best mode, enablement or other applicable requirements.

In general, the patent position of medical device companies are highly uncertain, still evolving and involve complex legal, scientific and factual questions. We are at risk that:

● other patents may be granted with respect to the patent applications filed by us; and

● any patents issued to us may not provide commercial benefit to us or will be infringed, invalidated or circumvented by others.

The United States Patent and Trademark Office currently has a significant backlog of patent applications, and the approval or rejection of patents may take several years. Prior to actual issuance, the contents of United States patent applications are generally published 18 months after filing. Once issued, such a patent would constitute prior art from its filing date, which might predate the date of a patent application on which we rely. Conceivably, the issuance of such a prior art patent, or the discovery of "prior art" of which we are currently unaware, could invalidate a patent of ours or prevent commercialization of a product claimed thereby.

Although we generally conduct a cursory review of issued patents prior to engaging in research or development activities, we may be required to obtain a license from others to commercialize any of our new products under development. If patents that cover our existing or new products are issued to other companies, there can be no assurance that any necessary license could be obtained on favorable terms or at all.

There can be no assurance that we will not be required to resort to litigation to protect our patented technologies and other proprietary rights or that we will not be the subject of additional patent litigation to defend our existing and proposed products and processes against claims of patent infringement or any other intellectual property claims. Such litigation could result in substantial costs, diversion of management's attention, and diversion of our resources.

We also have applied for patent protection in several foreign countries. Because of the differences in patent laws and laws concerning proprietary rights between the United States and foreign countries, the extent of protection provided by patents and proprietary rights granted to us by the United States may differ from the protection provided by patents and proprietary rights granted to us by foreign countries.

We attempt to protect our trade secrets, including the processes, concepts, ideas and documentation associated with our technologies, through the use of confidentiality agreements and non-competition agreements with our current employees, and with other parties to whom we have divulged such trade secrets. If our employees or other parties breach our confidentiality agreements and non-competition agreements or if these agreements are not sufficient to protect our technology or are found to be unenforceable, our competitors could acquire and use information that we consider to be our trade secrets and we may not be able to compete effectively. Most of our competitors have substantially greater financial, marketing, technical and manufacturing resources than we have and we may not be profitable if our competitors are also able to take advantage of our trade secrets. 

We may decide for business reasons to retain certain knowledge that we consider proprietary as confidential and elect to protect such information as a trade secret, as business confidential information or as know-how. In that event, we must rely upon trade secrets, know-how, confidentiality and non-disclosure agreements and continuing technological innovation to maintain our competitive position. There can be no assurance that others will not independently develop substantially equivalent proprietary information or otherwise gain access to or disclose such information.

IF THE FDA OR OTHER STATE OR FOREIGN AGENCIES IMPOSE REGULATIONS THAT AFFECT OUR MEDICAL DEVICE PRODUCTS, OUR DEVELOPMENT, MANUFACTURING AND MARKETING COSTS WILL BE INCREASED.

The testing and production of medical devices are subject to regulation by the FDA as devices under the 1976 Medical Device Amendments to the Federal Food, Drug and Cosmetic Act. In the United States, medical devices must be:

● manufactured in registered and quality approved establishments by the FDA; and

● produced in accordance with the FDA Quality System Regulation ("QSR") for medical devices.

As a result we, as the manufacturer of other parties' devices, are required to comply with QSR requirements and if we fail to comply with these requirements, these other third parties will need to find another company to manufacture its devices. In addition, the Company's manufacturing facility:

● is required to be registered as a medical device manufacturing facility with the FDA; and

● is subject to inspection by the FDA.

The FDA can impose civil and criminal enforcement actions and other penalties on us if we fail to comply with stringent FDA regulations.

Medical device manufacturing facilities must maintain records, which are available for FDA inspectors documenting that the appropriate manufacturing procedures were followed. The FDA has authority to conduct inspections of our facility. Labeling and promotional activities are also subject to scrutiny by the FDA and, in certain instances, by the Federal Trade Commission. Any failure by us to take satisfactory corrective action in response to an adverse inspection or to comply with applicable FDA regulations could result in enforcement action against us, including a public warning letter, a shutdown of manufacturing operations, a recall of our products, civil or criminal penalties or other sanctions. From time to time, the FDA may modify such requirements, imposing additional or different requirements which may require us to alter our business methods which could result in increased expenses.

RISKS RELATED TO OUR COMPANY

WE HAVE A HISTORY OF SIGNIFICANT AND CONTINUED OPERATING LOSSES AND A SUBSTANTIAL ACCUMULATED EARNINGS DEFICIT AND WE MAY CONTINUE TO INCUR SIGNIFICANT LOSSES.

We have incurred net income of $398,790 and a net loss of $225,214 for the fiscal years ended March 31, 2015 and 2014, respectively. At March 31, 2015, we had an accumulated deficit of approximately $32 million. We may incur additional operating losses, as well as negative cash flows from operations, for the foreseeable future.

The loss or significant reduction in business of any of our key customers could materially and adversely affect our revenues and earnings.

We are highly dependent upon certain customers to generate our revenues. For the fiscal year ended March 31, 2015, two customers accounted for 38% of revenue. For the fiscal year ended March 31, 2014, two customers accounted for 19% of revenue. All customer purchases are made through purchase orders and we do not have any long-term contracts with customers. The complete loss of, or significant reduction in business from, or a material adverse change in the financial condition of, any of such customers will cause a material and adverse change in our revenues and operating results.

WE MAY BE EXPOSED TO POTENTIAL RISKS RELATING TO OUR INTERNAL CONTROL OVER FINANCIAL REPORTING AND OUR ABILITY TO HAVE THE OPERATING EFFECTIVENESS OF OUR INTERNAL CONTROLS ATTESTED TO BY OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM.

As directed by Section 404 of the Sarbanes-Oxley Act of 2002 (“Section 404”) the Securities and Exchange Commission (“SEC”) adopted rules requiring public companies to include a report of management on the company’s internal control over financial reporting in their annual reports on Form 10-K. A report of our management is included in our Annual Report on Form 10-K. We can provide no assurance that we will be able to comply with all of the requirements imposed thereby. In the event we identify significant deficiencies or material weaknesses in our internal control over financial reporting that we cannot remediate in a timely manner, investors and others may lose confidence in the reliability of our financial statements.

WE MAY BE EXPOSED TO PRODUCT LIABILITY CLAIMS FOR WHICH OUR INSURANCE MAY BE INADEQUATE.

Our business exposes us to potential product liability risks, which are inherent in the testing, manufacturing and marketing of chemical products and electronic devices. Although we maintain a general liability insurance policy, which includes aggregate product liability coverage of $3,000,000 for certain of our products, there can be no assurance, that such insurance will be sufficient to cover potential claims or that the present level of coverage will be available in the future at a reasonable cost.

While we are not aware of side-effects resulting from the use of any of our products, there may be unknown long-term effects of their use that may result in product liability claims in the future. Further, we cannot provide any assurance that:

● our insurance will provide adequate coverage against potential liabilities if a product causes harm or fails to perform as promised;

● adequate product liability insurance will continue to be available in the future; or

● our insurance can be maintained on acceptable terms.

The obligation to pay any product liability claim in excess of whatever insurance we are able to obtain would increase our expenses and could greatly reduce our assets. See "Item 1. Business - Insurance."

THE LOSS OF ANY OF OUR EXECUTIVE OFFICER OR KEY PERSONNEL MAY ADVERSELY AFFECT OUR OPERATIONS AND OUR ABILITY TO EXECUTE OUR GROWTH STRATEGY.

Our ability to execute our business plan depends upon the continued services of Andre' DiMino, our President and Chief Executive Officer, as well as our key technology, marketing, sales and support personnel. In January 2013, the Company entered into an employment agreement with Mr. DiMino containing non-compete, confidentiality and other provisions for the benefit of the Company. However, such agreement has provisions for early termination by the Company and/or Mr. DiMino. We do not have employment or consulting agreements containing non-compete agreements with certain of our key personnel, and we may not be able to retain these individuals. If we lost the services of Mr. DiMino or our key personnel, our business may be adversely affected and our stock price may decline. In addition, our ability to execute our business plan is dependent on our ability to attract and retain additional highly skilled personnel.

OUR EXECUTIVE OFFICER AND ENTITIES AFFILIATED WITH HIM HAVE SUBSTANTIAL CONTROL OVER US, WHICH COULD DELAY OR PREVENT A CHANGE IN OUR CORPORATE CONTROL FAVORED BY OUR OTHER SHAREHOLDERS.

Our executive officer and director, Mr. DiMino, together with members of the DiMino family, and entities affiliated with them may be deemed to beneficially own, in the aggregate, approximately 46% of our outstanding common stock. The interests of our current officer and director shareholder may differ from the interests of our other shareholders. As a result, the current officer and director would have the ability to exercise substantial control over all corporate actions requiring shareholder approval, irrespective of how our other shareholders may vote, including the following actions:

● the election of directors;

● adoption of stock option plans;

● the amendment of charter documents; or

● the approval of certain mergers and other significant corporate transactions, including a sale of substantially all of our assets.

PENNY STOCK REGULATIONS MAY IMPOSE CERTAIN RESTRICTIONS ON MARKETABILITY OF OUR SECURITIES.

Our common stock is subject to penny stock rules, which may discourage broker-dealers from effecting transactions in our common stock or affect their ability to sell our securities. As a result, purchasers and current holders of our securities could find it more difficult to sell their securities. Our stock is traded on the Over-the-Counter Bulletin Board (the “OTC Bulletin Board”). Trading volume of OTC Bulletin Board stocks have been historically lower and more volatile then stocks traded on an exchange or the Nasdaq Stock Market. In addition we may be subject to rules of the SEC that impose additional requirements on broker-dealers when selling penny stocks to persons other than established customers and accredited investors. In general, an accredited investor is a person with assets in excess of $1,000,000 or annual income exceeding $200,000 individually, or $300,000 together with his or her spouse. The relevant SEC regulations generally define penny stocks to include any equity security not traded on an exchange or the Nasdaq Stock Market with a market price (as defined in the regulations) of less than $5 per share. Under the penny stock regulations, a broker-dealer must make a special suitability determination as to the purchaser and must have the purchaser's prior written consent to the transaction. Prior to any transaction in a penny stock covered by these rules, a broker-dealer must deliver a disclosure schedule about the penny stock market prepared by the SEC. Broker-dealers must also make disclosure concerning commissions payable to both the broker-dealer and any registered representative and provide current quotations for the securities. Finally, broker-dealers are required to send monthly statements disclosing recent price information for the penny stock held in an account and information on the limited market in penny stocks.

OUR STOCK PRICE, LIKE THAT OF MANY SMALL COMPANIES, HAS BEEN AND MAY CONTINUE TO BE VOLATILE.

We expect that the market price of our common stock will fluctuate as a result of variations in our quarterly operating results and other factors beyond our control. These fluctuations may be exaggerated if the trading volume of our common stock is low.

WE HAVE NOT PAID DIVIDENDS IN THE PAST AND DO NOT EXPECT TO PAY DIVIDENDS IN THE FUTURE, AND ANY RETURN ON INVESTMENT MAY BE LIMITED TO THE VALUE OF YOUR STOCK.

We have never paid any cash dividends on our common stock and do not anticipate paying any cash dividends on our common stock in the foreseeable future and any return on investment may be limited to the value of your stock. We plan to retain any future earnings to finance growth.

ITEM 1B.UNRESOLVED STAFF COMMENTS

Not applicable

ITEM 2. PROPERTIES

We are headquartered at 224 Pegasus Avenue, Northvale, New Jersey. We lease approximately 16,000 square feet of combined office and warehouse space from an unaffiliated third party with a monthly rent of $8,073 subject to annual increases. The lease expires in June 2019. The Company and its subsidiary utilize portions of the leased space.

We believe that our existing facilities are suitable as office, storage, laboratory and manufacturing space, and are adequate to meet our current needs. We further believe that such properties are adequately covered by insurance.

We do not own any real property for use in our operations or otherwise.

ITEM 3. LEGAL PROCEEDINGS

In August 2012, the Company filed a civil suit in the Superior Court of New Jersey against defendants Wellington Scientific LLC (“Wellington”) and Peter F. Lordi, demanding payment of the convertible note receivable from Wellington in the amount of $50,000 (plus accrued interest). The Company sued for breach of contract, fraud in the inducement, and other claims. A counterclaim was filed by the defendants. In February 2015 the suit was settled and the claims and counterclaims were dismissed with prejudice including the forgiveness of the convertible note receivable and accrued interest. In accordance with the settlement agreement for the seven years subsequent to the settlement date the Company has agreed to pay Wellington no royalties on the first $500,000 of any future sales of electronic uroflowmetry diagnostic medical device technology; 1% on future sales from $500,000 to $1,000,000; 2% from $1,000,000 to $2,000,000; 4% from $2,000,000 to $10,000,000 and, then a reduced royalty of 2% on any future sales above $10,000,000. In addition Lordi and Wellington have disclaimed any future right, title or interest in the electronic uroflowmetry diagnostic medical device technology and any intellectual property related thereto or any related or successor devices that the Company may develop.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable

PART II

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.

MARKET INFORMATION

The Company's common stock trades on the OTC Bulletin Board under the symbol "ADMT." For the periods indicated, the following table sets forth the high and low bid quotations for the Company's common stock, as reported by the National Quotation Bureau, Inc. The quotations represent inter-dealer quotations without retail mark-up, mark-down or commission and may not necessarily represent actual transactions.

Quarter Ended	High Bid		Low Bid
Fiscal 2015
31-Mar-15	$	0.21	$	0.14
31-Dec-14	$	0.25	$	0.20
30-Sep-14	$	0.13	$	0.09
30-Jun-14	$	0.06	$	0.03
Fiscal 2014
31-Mar-14	$	0.04	$	0.01
31-Dec-13	$	0.03	$	0.02
30-Sep-13	$	0.03	$	0.01
30-Jun-13	$	0.03	$	0.01

HOLDERS OF RECORD

As of March 31, 2015, 64,939,537 shares of the Company's common stock were issued and outstanding. On March 31, 2015, there were 1,324 shareholders of record. 

DIVIDENDS

The Company has never paid any cash dividends on its common stock and has no intention of paying cash dividends in the foreseeable future. The Company intends to retain all earnings, if any, for use in the operation and expansion of its business.

EQUITY COMPENSATION PLAN

As of March 31, 2015, we did not have any compensation plans (including individual compensation arrangements) under which our equity securities were authorized for issuance.

ITEM 6. SELECTED FINANCIAL DATA.

Not Applicable

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION

FORWARD-LOOKING STATEMENTS

This Annual Report on Form 10-K contains forward-looking statements within the meaning of the "safe harbor" provisions under section 21E of the Securities and Exchange Act of 1934 and the Private Securities Litigation Act of 1995. We use forward-looking statements in our description of our plans and objectives for future operations and assumptions underlying these plans and objectives. Forward-looking terminology includes the words "may", "expects", "believes", "anticipates", "intends", "forecasts", "projects", or similar terms, variations of such terms or the negative of such terms. These forward-looking statements are based on management's current expectations and are subject to factors and uncertainties which could cause actual results to differ materially from those described in such forward-looking statements. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this Form 10-K to reflect any change in our expectations or any changes in events, conditions or circumstances on which any forward-looking statement is based. Factors which could cause such results to differ materially from those described in the forward-looking statements include those set forth under "Item. 1 Description of Business – Risk Factors" and elsewhere in, or incorporated by reference into this Annual Report on Form 10-K.

CRITICAL ACCOUNTING POLICIES

REVENUE RECOGNITION

Revenues are recognized when products are shipped to end users. Shipments to distributors are recognized as sales where no right of return exists. Shipping and handling charges and costs are immaterial. We offer a limited 90 day warranty on our electronics products and a limited 5 year warranty on our electronic controllers for spas and hot tubs. We have no other post shipment obligations and sales returns have been immaterial. To date warranty expense has been less than $2,000 annually and accordingly, due to the immaterial amount, no accrual for future warranty costs were recognized at delivery of the product.

USE OF ESTIMATES:

Our discussion and analysis of our financial condition and results of operations is based upon our consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these consolidated financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. On an ongoing basis, we evaluate our estimates, including those related to reserves, deferred tax assets and valuation allowance, impairment of long-lived assets, fair value of equity instruments issued to consultants for services and fair value of equity instruments issued to others. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions; however, we believe that our estimates, including those for the above described items, are reasonable.

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

On May 14, 2014, FASB and IASB issued a new joint revenue recognition standard that supersedes nearly all US GAAP guidance on revenue recognition. The core principal of the standard is that revenue recognition should depict the transfer of goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. The new standard is effective for the Company for the fiscal year beginning April 1, 2017 and the effects of the standard on the Company’s consolidated financial statements are not known at this time.

Management does not believe that any other recently issued, but not yet effective accounting pronouncement, if adopted, would have a material effect on the accompanying consolidated financial statements.

BUSINESS OVERVIEW

ADM is a corporation that was organized under the laws of the State of Delaware on November 24, 1969. During the years ended March 31, 2015 and 2014, our operations were conducted through ADM itself and its subsidiary, Sonotron.

We are a technology-based developer and manufacturer of diversified lines of products and services in the following areas: environmentally safe chemical products for industrial, cosmetic and topical uses; electronics for non-invasive medical and other applications; and, research, development, regulatory and engineering services.

RESULTS OF OPERATIONS FOR THE YEAR ENDED MARCH 31, 2015 AS COMPARED TO MARCH 31, 2014

For the Year Ended March 31, 2015
	Chemical		Electronics			Engineering		Total
Revenue	$	1,077,946	$	839,306		$	933,296	$	2,850,548
Cost of Sales		538,486		546,780			400,324		1,485,590
Gross Profit		539,460		292,526			532,972		1,364,958
Gross Profit Percentage		50%		35%			57%		48%
Operating Expenses		412,553		345,653			356,803		1,115,009
Operating Income (Loss)		126,907		(53,127	)		176,169		249,949
Other income (expenses)		40,271		33,740			34,830		108,841
Net Income (Loss)	$	167,178	$	(19,387	)	$	210,999	$	358,790

For the Year Ended March 31, 2014
	Chemical			Electronics			Engineering			Total
Revenue	$	1,099,977		$	457,829		$	251,817		$	1,809,623
Cost of Sales		487,427			387,583			178,920			1,053,930
Gross Profit		612,550			70,246			72,897			755,693
Gross Profit Percentage		56%			15%			29%			42%
Operating Expenses		611,081			264,495			103,909			979,485
Operating Income (Loss)		1,469			(194,249	)		(31,012	)		(223,792	)
Other income (expenses)		(867	)		(398	)		(156	)		(1,421	)
Net Income (Loss)	$	602		$	(194,647	)	$	(31,168	)	$	(225,213	)

Variance
	Chemical			Electronics		Engineering		Total
Revenue	$	(22,031	)	$	381,477	$	681,479	$	1,040,925
Cost of Sales		51,059			159,197		221,404		431,660
Gross Profit		(73,090	)		222,280		460,075		609,265
Gross Profit Percentage		-6%			20%		28%		6%
Operating Expenses		(198,528	)		81,158		252,894		135,524
Operating Income (Loss)		125,438			141,122		207,181		473,741
Other income (expenses)		41,138			34,138		34,986		110,262
Net Income (Loss)	$	166,576		$	175,260	$	242,167	$	584,003

REVENUES AND GROSS MARGINS 

Revenues increased $1,040,925, or 58% from the prior year, which resulted from increases of $681,478 in the engineering segment and $381,477 in the electronics segment, partially offset by a $22,031 decrease in the chemical segment. The decrease in the chemical division resulted from an increase in sales to customers in our Anti-static division in the amount of $12,408 offset by a decrease in sales in the remaining divisions in the amount of $34,439. The increase in the electronics division resulted from an increased customer base. The increase in engineering services is primarily the result of several projects for one customer.

The decrease in gross profit in the chemical segment and increase in gross profit in the electronics segment resulted from changes in the mix of products sold.

The increase in gross profit in the engineering segment resulted from better utilization of labor due to the increased revenue from new projects for one customer.

OPERATING INCOME (LOSS)

Income (loss) from operations for the years ended March 31, 2015 and 2014 was $249,949 and ($223,792) respectively, a difference of $473,741.

Selling, general and administrative expenses increased by $171,450, or 19%, from $901,892 to $1,073,342, mainly due to increased professional fees in the amount of $75,240, increased royalties and commissions of $60,666, and increased salaries and wages of $12,507, increased payroll taxes of $5,505, increased freight out of $10,396 and increased travel of $9,582 offset by decreased advertising and promotion of $5,089.

NET INCOME AND NET LOSS PER SHARE

Net income (loss) for the fiscal years ended March 31, 2015 and 2014 was $358,790 or $0.01 per share and ($225,214) or $(0.00) per share, respectively.

LIQUIDITY AND CAPITAL RESOURCES

At March 31, 2015, we had cash and cash equivalents of $216,395 as compared to $83,156 at March 31, 2014. The increase of $133,239 was primarily the result of cash provided in operations in the amount of $149,524 offset by cash used in financing activities in the amount of $15,024 and cash used by investing activities of $1,261. We expect to have enough cash to fund operations for the next twelve months. Our note payable to Kearny Federal Savings Bank of $121,966 on March 31, 2015, is secured and collateralized by restricted cash of $232,525. This note bears an interest rate of 2% above the rate for the savings account. The interest rate at March 31, 2015 was 2.15% per annum and is payable on demand.

Future Sources of Liquidity:

We expect our primary source of cash during fiscal 2016 to be net cash provided by operating activities. We expect that growth in profitable revenues and continued focus on new customers will enable us to continue to generate cash flows from operating activities.

If we do not generate sufficient cash from operations, face unanticipated cash needs or do not otherwise have sufficient cash, we may need to consider the sale of certain intellectual property which does not support the Company’s operations. In addition, we have the ability to reduce certain expenses depending on the level of business operation.

Based on current expectations, we believe that our existing cash of $216,395 as of March 31, 2015 and other potential sources of cash will be sufficient to meet our cash requirements. Our ability to meet these requirements will depend on our ability to generate cash in the future, which is subject to general economic, financial, competitive, legislative, regulatory and other factors that are beyond our control.

Although we expect available funds and funds generated from our operations to be sufficient to meet our anticipated needs for a minimum of 12 months, we may need to obtain additional capital to continue to operate and grow our business. Our cash requirements may vary materially from those currently anticipated due to changes in our operations, including our marketing and sales activities, product development, and the timing of our receipt of revenues. We do not have any material external sources of liquidity or unused sources of funds. Our ability to obtain additional financing in the future will depend in part upon the prevailing capital market conditions, as well as our business performance. There can be no assurance that we will be successful in our efforts to arrange additional financing on terms satisfactory to us or at all. Additionally, we will continue to reduce certain of our expenses in order to assist in meeting our capital needs.

OPERATING ACTIVITIES

Net cash provided by operating activities was $149,524 for the fiscal year ended March 31, 2015. Cash provided during the year ended March 31, 2015 was primarily due to a net income of $358,790 and an increase in operating liabilities of $167,423, depreciation and amortization of $5,018, bad debts of $22,000, a forgiveness of the note receivable of $62,900 offset by a decrease in net operating assets of $474,813.

Net cash used by operating activities was $47,365 for the fiscal year ended March 31, 2014. The use of cash during the year ended March 31, 2014 was primarily due to a net loss of $225,214 and an increase in operating liabilities of $134,397, depreciation and amortization of $46,297 and offset by a decrease in net operating assets of $2,845.

INVESTING ACTIVITIES

For the fiscal year ended March 31, 2015, net cash used by investing activities was $1,261. The primary decrease in cash was from an investment in Angiodroid in the amount of $1,000 and by payments in the amount of $261 for restricted cash.

For the fiscal year ended March 31, 2014, net cash provided by investing activities was $36,434. The primary increase in cash was from repayments for related party advances in the amount of $11,916 and cash received from the exercise of options in the amount of $25,000, offset by payments in the amount of $482 for restricted cash.

FINANCING ACTIVITIES

For the fiscal year ended March 31, 2015, net cash used for financing activities was $15,024 which was used for repayment on a note from a commercial bank to facilitate our acquisition of substantially all of the assets of Action.

For the fiscal year ended March 31, 2014, net cash used for financing activities was $11,000 which was used for repayment on a note from a commercial bank to facilitate our acquisition of substantially all of the assets of Action.

Inflation

We believe our operations have not been and, in the foreseeable future, will not be materially and adversely affected by inflation or changing prices.

Off-Balance Sheet Arrangements

The Company has no off-balance sheet arrangements.

ITEM 7A. QUANTATATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Not Applicable

 ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ADM TRONICS UNLIMITED, INC. AND SUBSIDIARY

MARCH 31, 2015

I N D E X

FINANCIAL STATEMENTS:		Page No.
	Report of Independent Registered Public Accounting Firm	F-1
	Consolidated Balance Sheets as of March 31, 2015 and 2014	F-2
	Consolidated Statements of Operations For the Years Ended March 31, 2015 and 2014	F-3
	Consolidated Statements of Changes in Stockholders’ Equity (Deficiency) For the Years Ended March 31, 2015 and 2014	F-4
	Consolidated Statements of Cash Flows For the Years Ended March 31, 2015 and 2014	F-5
	Notes to Consolidated Financial Statements	F-6

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and

Stockholders of ADM Tronics Unlimited, Inc.

Northvale, New Jersey

We have audited the accompanying consolidated balance sheets of ADM Tronics Unlimited, Inc. and subsidiary as of March 31, 2015 and 2014, and the related consolidated statements of operations, changes in stockholders’ equity (deficiency), and cash flows for each of the years in the two year period ended March 31, 2015. ADM Tronics Unlimited, Inc. and subsidiary’s management is responsible for these financial statements. Our responsibility is to express an opinion on these consolidated financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement. The company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the consolidated financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall consolidated financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of ADM Tronics Unlimited, Inc. and its subsidiary as of March 31, 2015 and 2014, and the results of their operations and their cash flows for each of the years in the two year period ended March 31, 2015, in conformity with accounting principles generally accepted in the United States of America.

/s/ Raich Ende Malter & Co. LLP

East Meadow, New York

July 14, 2015

F-1

PART I. FINANCIAL INFORMATION

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

ADM TRONICS UNLIMITED, INC. AND SUBSIDIARY

CONSOLIDATED BALANCE SHEETS

	March 31,			March 31,
	2015			2014
ASSETS
Current assets:
Cash and cash equivalents	$	216,395		$	83,156
Accounts receivable, net of allowance for doubtful accounts of $25,000 and $3,000, respectively		616,070			271,038
Inventories		137,704			94,692
Prepaid expenses and other current assets		16,595			10,623
Restricted cash		232,525			232,264
Total current assets		1,219,289			691,773
Property and equipment, net of accumulated depreciation of $74,070 and $70,942, respectively		3,246			6,374
Inventories - long-term portion		88,257			38,046
Secured convertible note receivable, including interest of $20,900 for 2014		-			62,900
Intangible assets, net of accumulated amortization of $153,667 and $151,777, respectively		14,481			16,371
Other assets		16,144			14,764
Total other assets		122,128			138,455
Total assets	$	1,341,417		$	830,228
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY)
Current liabilities:
Note payable - bank	$	121,966		$	136,990
Accounts payable		329,291			208,248
Accrued expenses and other current liabilities		221,106			312,901
Customer deposits		99,102			24,770
Due to shareholder		223,849			160,006
Total current liabilities		995,314			842,915
Total liabilities		995,314			842,915
Stockholders' equity (deficiency):
Preferred stock, $.01 par value; 5,000,000 shares authorized, no shares issued and outstanding		-			-
Common stock, $0.0005 par value; 150,000,000 authorized, 64,939,537 shares issued and outstanding at March 31, 2015 and 2014, respectively		32,470			32,470
Additional paid-in capital		32,298,094			32,298,094
Accumulated deficit		(31,984,461	)		(32,343,251	)
Total stockholders' equity (deficiency)		346,103			(12,687	)
Total liabilities and stockholders' equity (deficiency)	$	1,341,417		$	830,228

The accompanying notes are an integral part of these

consolidated financial statements.

F-2

ADM TRONICS UNLIMITED, INC. AND SUBSIDIARY

CONSOLIDATED STATEMENTS OF OPERATIONS

FOR THE YEARS ENDED MARCH 31, 2015 AND 2014

	2015			2014
Net revenues	$	2,850,548		$	1,809,623
Cost of sales		1,485,590			1,053,930
Gross Profit		1,364,958			755,693
Operating expenses:
Research and development		38,055			34,859
Selling, general, and administrative		1,073,342			901,892
Depreciation and amortization		3,612			42,734
Total operating expenses		1,115,009			979,485
Income (loss) from operations		249,949			(223,792	)
Other income (expense):
Interest income		301			4,808
Interest expense		(6,234	)		(6,230	)
Gain on settlement - Wellington		114,774			-
Total other income		108,841			(1,422	)
Net income (loss)	$	358,790		$	(225,214	)
Basic and diluted net income (loss) per common share:	$	0.01		$	(0.00	)
Weighted average shares of common stock outstanding - basic		64,939,537			64,939,537
Weighted average shares of common stock outstanding - diluted		65,539,537			65,539,537

The accompanying notes are an integral part of these

consolidated financial statements.

F-3

ADM TRONICS UNLIMITED, INC. AND SUBSIDIARY

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIENCY)

FOR THE YEARS ENDED MARCH 31, 2015 AND 2014

	Common Stock		Common Stock		Additional Paid-in		Accumulated
	Shares		Amount		Capital		Deficit			Total
Balance at March 31, 2013		59,939,537	$	29,970	$	32,275,594	$	(32,118,037	)	$	187,527
Exercise of options		5,000,000		2,500		22,500					25,000
Net loss								(225,214	)		(225,214	)
Balance at March 31, 2014		64,939,537	$	32,470	$	32,298,094	$	(32,343,251	)	$	(12,687	)
Net income								358,790			358,790
Balance at March 31, 2015		64,939,537	$	32,470	$	32,298,094	$	(31,984,461	)	$	346,103

The accompanying notes are an integral part of these

consolidated financial statements.

F-4

ADM TRONICS UNLIMITED, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE YEARS ENDED MARCH 31, 2015 AND 2014

	2015			2014
Cash flows from operating activities:
Net income (loss)	$	358,790		$	(225,214	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization		5,018			46,297
Bad debt		22,000			2,500
Interest receivable		-			(4,200	)
Write-off of inventories		8,206			69,489
Forgiveness of note receivable - Wellington		62,900			-
Increase (decrease) in cash flows as a result of changes in net assets and liabilities balances:
Accounts receivable		(367,032	)		(114,412	)
Inventories		(101,429	)		33,701
Prepaid expenses and other current assets		(5,972	)		10,077
Other assets		(380	)		-
Accounts payable		121,043			21,875
Accrued expenses and other current liabilities		(91,795	)		111,832
Customer deposit		74,332			690
Due to shareholder		63,843			-
Net cash (used in) provided operating activities		149,524			(47,365	)
Cash flows from investing activities:
Repayment from related party		-			11,916
Restricted cash		(261	)		(482	)
Exercise of options		-			25,000
Other assets-investment in Angiodroid		(1,000	)		-
Net cash provided (used in) by investing activities		(1,261	)		36,434
Cash flows used in financing activities:
Repayments on note payable - Bank		(15,024	)		(11,000	)
Net cash used in financing activities		(15,024	)		(11,000	)
Net increase (decrease) in cash and cash equivalents		133,239			(21,931	)
Cash and cash equivalents - beginning of year		83,156			105,087
Cash and cash equivalents - end of year	$	216,395		$	83,156
Cash paid for:
Interest	$	2,797		$	2,842

The accompanying notes are an integral part of these

consolidated financial statements.

F-5

ADM TRONICS UNLIMITED, INC. AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2015 AND 2014

NOTE 1 – NATURE OF BUSINESS

ADM Tronics Unlimited, Inc. ("we", "us", "the Company" or "ADM"), was incorporated under the laws of the state of Delaware on November 24, 1969. We are a manufacturing and engineering concern whose principal lines of business are the production and sale of chemical products; the design, manufacture and sale of electronics of our own products or on a contract manufacturing basis; and, research, development and engineering services. On July 17, 2009, we purchased the assets of Antistatic Industries of Delaware, Inc., a company involved in the research, development and manufacture of water-based and proprietary electrically conductive paints, coatings and other products and accessories which can be used by electronics, computer, pharmaceutical and chemical companies to prevent, reduce or eliminate static electricity.

Our chemical product line is principally comprised of water-based chemical products used in the food packaging and converting industries, and anti-static conductive paints, coatings and other products. These products are sold to customers located in the United States, Australia, Asia and Europe. Electronic equipment is manufactured in accordance with customer specifications on a contract basis. Our electronic device product line consists principally of proprietary devices used in diagnostics and therapeutics of humans and animals and electronic controllers for spas and hot tubs. These products are sold to customers located principally in the United States. We are registered with the FDA as a contract manufacturing facility and we manufacture medical devices for customers in accordance with their designs and specifications. We also provide research, development, regulatory and engineering services to customers. Our Sonotron Medical Systems, Inc. subsidiary (“Sonotron”) is involved in medical electronic therapeutic technology.

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES

PRINCIPLES OF CONSOLIDATION

The consolidated financial statements include the accounts of ADM Tronics Unlimited, Inc. and its subsidiary Sonotron. All significant intercompany balances and transactions have been eliminated in consolidation.

USE OF ESTIMATES

These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and, accordingly, require management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. Significant estimates made by management include expected economic life and value of our deferred tax assets, valuation allowance, impairment of long lived assets, fair value of equity instruments for services, allowance for doubtful accounts, and warranty reserves. Actual amounts could differ from those estimates.

FAIR VALUE OF FINANCIAL INSTRUMENTS

For certain of our financial instruments, including accounts receivable, accounts payable, accrued expenses, and notes payable – bank, the carrying amounts approximate fair value due to their relatively short maturities.

CASH AND CASH EQUIVALENTS

Cash equivalents are comprised of certain highly liquid investments with maturities of three months or less when purchased. We maintain our cash in bank deposit accounts, which at times, may exceed federally insured limits. We have not experienced any losses to date as a result of this policy.

ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS

Accounts receivable are stated at the amount management expects to collect from outstanding balances. The carrying amounts of accounts receivable is reduced by a valuation allowance that reflects management's best estimate of the amounts that will not be collected. Management individually reviews all accounts receivable balances that exceed the due date and estimates the portion, if any, of the balance that will not be collected. Management provides for probable uncollectible amounts through a charge to expenses and a credit to a valuation allowance, based on its assessment of the current status of individual accounts. Balances that are still outstanding after management has used reasonable collection efforts are written off through a charge to the valuation allowance and a credit to accounts receivable.

F-6

REVENUE RECOGNITION

CHEMICAL PRODUCTS:

Revenues are recognized when products are shipped to end users. Shipments to distributors are recognized as revenue when no right of return exists.

ELECTRONICS:

We recognize revenue from the sale of our electronic products when they are shipped to the purchaser. We offer a limited 90 day warranty on our electronics products and a limited 5 year warranty on our electronic controllers for spas and hot tubs. We have no other post shipment obligations. Based on prior experience, no amounts have been accrued for potential warranty costs and actual costs were less than $2,000, for each of the fiscal years ended March 31, 2015 and 2014. For contract manufacturing, revenues are recognized after shipment of the completed products.

ENGINEERING SERVICES:

We provide certain engineering services, including research, development, quality control and quality assurance services along with regulatory compliance services. We recognize revenue from engineering services as the services are provided.

WARRANTY LIABILITIES

The Company’s provision for estimated future warranty costs is based upon historical relationship of warranty claims to sales. Based upon historical experience, the Company has concluded that no warranty liability is required as of the balance sheet dates. However, the Company periodically reviews the adequacy of its product warranties and will record an accrued warranty reserve if necessary.

RESTRICTED CASH

Restricted cash represents funds on deposit with a financial institution that secure the bank note payable.

INVENTORIES

Inventories are stated at the lower of cost (first-in, first-out method) or market. Inventories that are expected to be sold within one operating cycle (1 year) are classified as a current asset. Inventories that are not expected to be sold within 1 year, based on historical trends, are classified as Inventories - long term portion.

PROPERTY & EQUIPMENT

We record our equipment at historical cost. We expense maintenance and repairs as incurred. Depreciation is provided for by the straight-line method over five to seven years, the estimated useful lives of the property and equipment.

INTANGIBLE ASSETS

Intangible assets are reviewed for impairment whenever changes in circumstances indicate that the carrying amount may not be recoverable. In reviewing for impairment, the Company compares the carrying value of the relevant asset to the estimated undiscounted future cash flows expected from the use of the assets and their eventual disposition. When the estimated undiscounted future cash flows are less than their carrying amount, an impairment loss is recognized equal to the difference between the assets’ fair value and its carrying value.

ADVERTISING COSTS 

Advertising costs are expensed as incurred and amounted to $21,564 and $26,654 for the fiscal years ended March 31, 2015 and 2014, respectively.

F-7

SHIPPING AND HANDLING COSTS 

Shipping and handling costs incurred for the years ended March 31, 2015 and 2014 were approximately $19,894 and $9,498 respectively. Such costs are included in selling, general, and administrative expenses in the accompanying consolidated statements of operations.

INCOME TAXES

We report the results of our operations as part of a consolidated Federal tax return with our subsidiary. Deferred income taxes result primarily from temporary differences between financial and tax reporting. Deferred tax assets and liabilities are determined based on the difference between the financial statement bases and tax bases of assets and liabilities using enacted tax rates. A valuation allowance is recorded to reduce a deferred tax asset to that portion that is expected to more likely than not be realized.

The Company has adopted the authoritative accounting guidance with respect to accounting for uncertainty in income taxes, which clarified the accounting and disclosures for uncertain tax positions related to income taxes recognized in the consolidated financial statements and addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the consolidated financial statements. The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the consolidated financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority.

The Company files income tax returns in several jurisdictions. The Company’s tax returns remain subject to examination, by major jurisdiction, for the years ended March 31, as follows:

Jurisdiction	Fiscal Year
Federal	2011 and beyond
New Jersey	2010 and beyond

There are currently no tax years under examination by any major tax jurisdictions.

The Company will recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. As of March 31, 2015 and 2014, the Company has no accrued interest or penalties related to uncertain tax positions.

NET INCOME/LOSS PER SHARE

We compute basic income/loss per share by dividing net income/loss by the weighted average number of common shares outstanding. Diluted income/loss per share is computed similar to basic income/loss per share, except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential shares had been issued and if the additional shares were dilutive. Common equivalent shares are excluded from the computation of net income/loss per share if their effect is anti-dilutive.

Per share basic and diluted net income amounted to $0.01 and loss of $(0.00) for the fiscal years ended March 31, 2015 and 2014, respectively. The assumed exercise of common stock equivalents was not utilized in the computation of the fully diluted earnings per share for the fiscal year ended March 31, 2014, since the effect would be anti-dilutive. There were 600,000 common stock equivalents at March 31, 2015 and 2014, respectively.

RECLASSIFICATION

Certain items in the prior financial statements have been reclassified to conform to the current year presentation.

RECENT ACCOUNTING PRONOUNCEMENTS

On May 14, 2014, FASB and IASB issued a new joint revenue recognition standard that supersedes nearly all U.S. GAAP guidance on revenue recognition. The core principal of the standard is that revenue recognition should depict the transfer of goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. The new standard is effective for the Company for the fiscal year beginning April 1, 2017 and the effects of the standard on the Company’s consolidated financial statements are not known at this time.

Management does not believe that any other recently issued, but not yet effective accounting pronouncement, if adopted, would have a material effect on the accompanying consolidated financial statements.

F-8

NOTE 3 - INVENTORIES

Inventories at March 31, 2015 consisted of the following:

	Current		Long Term		Total
Raw materials	$	95,702	$	87,638	$	183,340
Finished goods		42,002		619		42,621
	$	137,704	$	88,257	$	225,961

Inventory at March 31, 2014 consisted of the following:

	Current		Long Term		Total
Raw materials	$	78,072	$	36,364	$	114,436
Finished goods		16,620		1,682		18,302
	$	94,692	$	38,046	$	132,738

The Company values its inventories at the first in, first out ("FIFO") method at the lower of cost or market.

NOTE 4 - PROPERTY AND EQUIPMENT

Property and equipment as of March 31, 2015 and 2014 consisted of the following:

	2015			2014
Computer equipment	$	13,364		$	13,364
Machinery and equipment		60,202			60,202
Leasehold improvements		3,750			3,750
		77,316			77,316
Accumulated depreciation		(74,070	)		(70,942	)
Property and equipment, net	$	3,246		$	6,374

Depreciation expense related to property and equipment amounted to $3,128 and $7,918 for the years ended March 31, 2015 and 2014, respectively.

NOTE 5 – SECURED CONVERTIBLE NOTE RECEIVABLE

On June 4, 2009 the Company invested in Wellington Scientific, LLC (“Wellington”) which has rights to an electronic uroflowmetry diagnostic medical device technology. The Company invested a total of $50,000, with $10,000 provided in cash, and $40,000 in services to Wellington. Wellington issued a convertible note to the Company for a principal amount of $50,000 with an interest rate of 10% due at various dates through July 15, 2012. The total of the note receivable and accrued interest at March 31, 2014 was $62,900. At the option of the Company, the Note is convertible in whole or in part, into equity of Wellington. The conversion price, and resulting equity ownership percentage in Wellington, is determined by dividing the cash value of principal and accrued interest by $2,000,000. The note was forgiven by the Company during February 2015. Accordingly, as of March 31, 2015 and 2014 the note receivable amounted to $-0- and $62,900, respectively. See Note 13 - Legal Proceedings.

F-9

NOTE 6 - INTANGIBLE ASSETS

Intangible assets are being amortized using the straight line method over periods ranging from 3-15 years with a weighted average remaining life of approximately 5.9 years.

	March 31, 2015									March 31, 2014
	Cost		Weighted Average Amortization Period (years)		Accumulated Amortization			Net Carrying Amount		Cost		Weighted Average Amortization Period (years)		Accumulated Amortization			Net Carrying Amount
Patents & Trademarks	$	82,702		15	$	(68,221	)	$	14,481	$	82,702		15	$	(66,331	)	$	16,371
Formulas		25,446		15		(25,446	)		-		25,446		15		(25,446	)		-
Non-Compete Agreement		50,000		7		(50,000	)		-		50,000		7		(50,000	)		-
Customer List		10,000		3		(10,000	)		-		10,000		3		(10,000	)		-
	$	168,148			$	(153,667	)	$	14,481	$	168,148			$	(151,777	)	$	16,371

Amortization expense was $1,890 and $38,379 for the years ended March 31, 2015 and 2014, respectively.

Estimated aggregate future amortization expense related to intangible assets is as follows:

For the fiscal years ended March 31,:
2016		1,396
2017		1,396
2018		1,396
2019		1,396
2020		1,396
Thereafter		7,501
	$	14,481

F-10

NOTE 7 – NOTE PAYABLE, BANK

On August 21, 2008, the Company entered into a note payable with a commercial bank in the amount of $200,000. This note bears interest at a rate of 2% above the interest rate for the Company’s savings account at this bank. Interest rates at March 31, 2015 and 2014 were 2.15% for each year. The note is secured by cash on deposit with the institution, which is classified as restricted cash. Amounts outstanding under the note are payable on demand, and interest is payable monthly.

NOTE 8 – CONCENTRATIONS

During the year ended March 31, 2015, two customers accounted for 38% of our net revenues. As of March 31, 2015, one customer accounted for 43% of our accounts receivable.

During the year ended March 31, 2014, two customers accounted for 19% of our net revenues. As of March 31, 2014, two customers accounted for 33% of our accounts receivable.

The Company’s customer base is comprised of foreign and domestic entities with diverse demographics. Revenues from foreign customers represented $305,449 of net revenue or 10.5% for the year ended March 31, 2015. Revenues from foreign customers represented $256,489 of net revenue or 14.2% for the year ended March 31, 2014.

NOTE 9 - SEGMENT INFORMATION

Information about segments is as follows:

	Chemical		Electronics			Engineering			Total
Year ended March 31, 2015
Revenue from external customers	$	1,107,946	$	839,306		$	933,296		$	2,850,848
Segment operating income (loss)	$	126,907	$	(53,127	)	$	176,169		$	249,949
Year ended March 31, 2014
Revenue from external customers	$	1,099,977	$	457,829		$	251,817		$	1,809,623
Segment operating income (loss)	$	1,469	$	(194,249	)	$	(31,012	)	$	(223,792	)
Total assets at March 31, 2015	$	509,738	$	389,011		$	442,868		$	1,341,417
Total assets at March 31, 2014	$	506,439	$	207,557		$	116,232		$	830,228

NOTE 10 - INCOME TAXES

At March 31, 2015, the Company had federal and state net operating loss carry-forwards, (NOL’s) of approximately $4,300,000, which are due to expire through fiscal 2033. These NOLs may be used to offset future taxable income through their respective expiration dates and thereby reduce or eliminate our federal and state income taxes otherwise payable. A valuation allowance is provided when it is more likely than not that some portion or all of the deferred tax assets will not be realized. Ultimate utilization of such NOL’s and credits is dependent upon the Company’s ability to generate taxable income in future periods and may be significantly curtailed if a significant change in ownership occurs.

Due to the uncertainty related to future taxable income, the Company provides a 100% valuation allowance for the deferred tax benefit resulting from the NOL’s and depreciation and amortization.

F-11

Significant components of deferred tax assets and liabilities are as follows as of March 31, 2015 and 2014:

	2015			2014
Deferred tax assets (liabilities):
Net operating loss carry-forward	$	1,718,000		$	1,898,000
Other		11,000			2,000
Deferred tax assets		1,729,000			1,900,000
Valuation allowance		(1,729,000	)		(1,900,000	)
Deferred tax asset, net	$	-		$	-

The provision for income taxes at March 31, 2015 and 2014 differs from that amount using the statutory federal income tax rate as follows:

	2015			2014
Statutory federal income tax rate		34	%		(34	%)
State income taxes, net of federal taxes		6			(6	)
Valuation allowance		(40	)		40
Effective income tax rate		0	%		0	%

NOTE 11 - COMMITMENTS AND CONTINGENCIES

We lease our office and manufacturing facility under a non-cancelable operating lease, which expires on June 30, 2019. The Company’s future minimum lease commitment at March 31, 2015 is as follows:

For the years ending March 31,	Amount
2016	$	104,625
2017		104,625
2018		104,625
2019		26,156
	$	340,031

Rent and real estate tax expense for all facilities for the years ended March 31, 2015 and 2014 was approximately $126,000 and $125,000, respectively.

MASTER SERVICES AGREEMENT

On February 12, 2010, ADM agreed to provide certain services to Ivivi Health Sciences, LLC (IHS) pursuant to a Master Services Agreement, as described below:

● We provided IHS with engineering services, including quality control and quality assurance services along with regulatory compliance services, warehouse fulfillment services and network administrative services including hardware and software services;

● Effective October 1, 2013, the monthly amount paid by IHS for these services was $3,000 plus additional amounts for individual projects requested from time to time by IHS. Pursuant to this agreement, revenues from engineering services to IHS for the year ended March 31, 2015 and 2014 were $36,300 and $46,648, respectively.

F-12

MANUFACTURING AGREEMENT

Under the terms of the February 12, 2010 manufacturing agreement with IHS, ADM has agreed to serve as the exclusive manufacturer of all current and future medical and non-medical electronic and other electronic devices or products to be sold or rented by IHS. For each product that ADM manufactures, IHS pays ADM an amount equal to 120% of the sum of (i) the actual, invoiced cost for raw materials, parts, components or other physical items that are used in the manufacture of product and actually purchased for such entity by ADM, if any, plus (ii) a labor charge the based on ADM’s standard hourly manufacturing labor rate, which ADM believes is more favorable than could be attained from unaffiliated third parties. Under the terms of the Agreement, if ADM is unable to perform its obligations to IHS under the manufacturing agreement or is otherwise in breach of any provision of the manufacturing agreement, IHS has the right, without penalty, to engage third parties to manufacture some or all of its products. In addition, if IHS elects to utilize a third-party manufacturer to supplement the manufacturing being completed by ADM, IHS has the right to require ADM to accept delivery of its products from these third-party manufacturers, finalize the manufacture of the products to the extent necessary to ensure that the design, testing, control, documentation and other quality assurance procedures during all aspects of the manufacturing process have been met.

Pursuant to the manufacturing agreement, sales of finished goods to IHS for the years ended March 31, 2015 and 2014 were $-0- and $52,648, respectively.

NOTE 12 – OPTIONS OUTSTANDING 

During 2013, ADM granted an aggregate of 5,600,000 stock options to employees and consultants expiring at various dates through fiscal 2015. During 2014, 5,000,000 of the outstanding stock options were exercised. The options have various exercise prices and were fully vested at the date of grant. The options were valued at $55,997 using the Black Scholes option pricing model with the following assumptions: risk free interest rate of 4.9%, volatility of 414%, estimated useful life of 1.5 years and dividend rate of 0%. The following table summarizes information on all common share purchase options issued by us as of March 31, 2015 and 2014.

	2015				2014
	# of Shares		Weighted Average Exercise Price		# of Shares			Weighted Average Exercise Price
Outstanding, beginning of year		600,000	$	0.01		5,600,000		$	0.01
Issued		-	$	-		-		$	-
Exercised		-	$	-		(5,000,000	)	$	0.01
Expired		-	$	-		-		$	-
Outstanding, end of year		600,000	$	0.01		600,000		$	0.01
Exercisable, end of year		600,000	$	0.01		600,000		$	0.01

NOTE 13 - LEGAL PROCEEDINGS

In August 2012, the Company filed a civil suit in the Superior Court of New Jersey against defendants Wellington Scientific LLC (“Wellington”) and Peter F. Lordi, demanding payment of the convertible note receivable from Wellington in the amount of $50,000 (plus accrued interest). The Company sued for breach of contract, fraud in the inducement, and other claims. A counterclaim was filed by the defendants. In February 2015 the suit was settled and the claims and counterclaims were dismissed with prejudice including the forgiveness of the convertible note receivable and accrued interest. In accordance with the settlement agreement for the seven years subsequent to the settlement date the Company has agreed to pay Wellington no royalties on the first $500,000 of any future sales of electronic uroflowmetry diagnostic medical device technology; 1% on future sales from $500,000 to $1,000,000; 2% from $1,000,000 to $2,000,000; 4% from $2,000,000 to $10,000,000 and, then a reduced royalty of 2% on any future sales above $10,000,000. In addition Lordi and Wellington have disclaimed any future right, title or interest in the electronic uroflowmetry diagnostic medical device technology and any intellectual property related thereto or any related or successor devices that the Company may develop.

F-13

We are involved, from time to time, in litigation and proceedings arising out of the ordinary course of business. Other than the foregoing, there are no pending material legal proceedings or environmental investigations to which we are a party or to which our property is subject.

NOTE 14 – SUBSEQUENT EVENTS

We evaluated all subsequent events from the date of the condensed consolidated balance sheet through the issuance date of this report and determined that there are no events or transactions occurring during the subsequent event reporting period which require recognition or disclosure in the condensed consolidated financial statements.

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.

None.

ITEM 9A. CONTROLS AND PROCEDURES

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES.

We maintain disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d - 15(e) under the Securities Exchange Act of 1934, as amended (the "Exchange Act")) that are designed to ensure that information required to be disclosed in our Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms, and that such information is accumulated and communicated to management, including the Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure. Management necessarily applies its judgment in assessing the costs and benefits of such controls and procedures, which, by their nature, can provide only reasonable assurance regarding management's control objectives.

As of the end of the period covered by this Annual Report on Form 10-K, we carried out an evaluation, with the participation of management, including the Chief Executive Officer and Chief Financial Officer, of the effectiveness of our disclosure controls and procedures pursuant to Exchange Act Rule 13a-15. Based on that evaluation as of March 31, 2015, our principal executive officer and principal financial officer concluded that our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934) are effective.

MANAGEMENT’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING

Management is responsible for establishing and maintaining effective internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act) over our company. Internal control over financial reporting is a process to provide reasonable assurance regarding the reliability of our financial reporting for external purposes in accordance with accounting principles generally accepted in the United States. Because of its inherent limitations, internal control over financial reporting is not intended to provide absolute assurance that a misstatement of our financial statements would be prevented or detected.

Management, including our Chief Executive Officer and Chief Financial Officer, has evaluated our internal control over financial reporting as of March 31, 2015, based on the framework in Internal Control - Integrated Framework issued by the Committee of Sponsoring Organizations (COSO) of the Treadway Commission. Based on its assessment, management has concluded that our internal control over financial reporting was not effective as of March 31, 2015.

This annual report does not include an attestation report of our registered public accounting firm regarding internal control over financial reporting. Management’s report was not subject to attestation by our registered public accounting firm pursuant to temporary rules of the SEC that permit us to provide only management’s report in this annual report.

F-14

The determination that our disclosure controls and procedures were not effective as of March 31, 2015 are a result of:

a. Deficiencies in Internal Control Structure Environment. The Company experienced net losses for the past several years. During the current year, the Company’s focus was on expanding their customer base to initiate revenue production.  

b. Inadequate staffing and supervision within the accounting operations of our company. The relatively small number of employees who are responsible for accounting functions prevents the Company from segregating duties within its internal control system. The inadequate segregation of duties is a weakness because it could lead to the untimely identification and resolution of accounting and disclosure matters or could lead to a failure to perform timely and effective reviews.  The Company’s plan is to expand its accounting operations as the business of the Company expands.

The Company believes that the financial statements fairly present, in all material respects, the Company’s consolidated balance sheets as of March 31, 2015 and 2014 and the related statements of operations, stockholders’ equity (deficiency), and cash flows for the years ended March 31, 2015 and 2014, in conformity with generally accepted accounting principles, notwithstanding the material weaknesses we identified.

INTERNAL CONTROL OVER FINANCIAL REPORTING.

There were no changes in the Company's internal control over financial reporting that occurred during the Company's last fiscal quarter of the fiscal year to which this report relates that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting.

ITEM 9B. OTHER INFORMATION

None.

PART III

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE.

The following table sets forth the names, positions and ages of the Company's executive officers and directors. All of the Company's directors serve until the next annual meeting of stockholders or until their successors are elected and qualify. Officers are elected by the board of directors and their terms of offices are, except to the extent governed by employment contracts, at the discretion of the board of directors. 

Name	Age		Position
Andre' DiMino	59	President, Chief Executive Officer
		Chief Financial Officer, Director

Andre' DiMino has served as President of the Company since December 2001 and a director and Chief Financial Officer of the Company since 1987. Prior thereto, Mr. DiMino served as Executive Vice President and Chief Operating Officer since 1991 and Secretary and Treasurer of the Company since 1978. Mr. DiMino also served as the Technical Director of ADM Tronics from 1982 to 1991. Mr. DiMino served as Vice Chairman, Executive Vice President and Chief Technology officer of ITI from August 2008 to February 2010. He also served as Vice Chairman and Co-Chief Executive Officer of ITI from October 2006 to August 2008, and as Chairman and Chief Financial Officer from January 2004 until October 2006 and served as President of ITI from 1989 to January 2004. Since February 12, 2010, Mr. DiMino has served as Vice President-Engineering, Manufacturing and Regulatory for IHS. 

AUDIT COMMITTEE AND AUDIT COMMITTEE FINANCIAL EXPERT

Although the Company is engaged in ongoing efforts to engage qualified board members, the Company does not have a separately designated audit committee or compensation committee at this time. Accordingly, the Company's Board of Directors also has determined that the Company does not have an audit committee financial expert. The Company continues to seek new board members in order to appoint a separately designated audit committee. The functions which would be performed by an audit committee are performed by the Board of Directors as a whole.

SECTION 16(A) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE

Section 16(a) of the Exchange Act, and the rules and regulations of the Securities and Exchange Commission promulgated there under, requires the Company's directors, executive officers and persons who own beneficially more than 10% of the Company's common stock to file reports of ownership and changes in ownership of such stock with the SEC. Based solely upon a review of such reports, the Company believes that all of its directors, executive officers and 10% stockholders complied with all applicable Section 16(a) filing requirements during the Company's last fiscal year.

CODE OF ETHICS

The Company has adopted a code of ethics that applies to its principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. A copy of such Code of Ethics has been filed as Exhibit 14.1 to the Annual Report on Form 10-KSB for the fiscal year ended March 31, 2005.

ITEM 11. EXECUTIVE COMPENSATION

Name and Principal Position	Year	Salary		Bonus		Option		Other		Total
						Awards		Compensation
Andre' DiMino	2015	$	137,500		-		-		-	$	137,500
Chief Executive Officer	2014	$	158,402		-		-		-	$	158,402

EMPLOYMENT AGREEMENT

On January 10, 2013, we entered into an employment agreement with Andre’ DiMino to secure his continued service as President, and Chief Executive Officer (the “Employment Agreement”). The Employment Agreement has a ten-year term which will be automatically extended prior to the end of the then current term for successive one-year periods until either the Company or Mr. DiMino notifies the other at least 120 days prior to the end of the term that such party does not wish to further extend it. The Employment Agreement provides for a minimum annual salary of $125,000 and a fixed annual bonus equal to 10% of such annual salary, discretionary annual cash bonuses and participation on generally applicable terms and conditions in other compensation and fringe benefit plans. Mr. DiMino's employment agreement requires Mr. DiMino to devote at least a majority of his work-time toward the Company. The Employment Agreement provides that Mr. DiMino will be entitled to severance benefits in the amount of his base salary for a period of 12 months following the date of termination if his employment is terminated without cause or if he resigns for good reason, or 18 months following the date of termination if his employment is terminated without cause or if he resigns for good reason within 12 months following a change in control, in each case subject to the execution and delivery to the Company by Mr. DiMino of a general release.

During the term of the Employment Agreement and for a period of 12 months thereafter, subject to applicable law, Mr. DiMino will be subject to restrictions on competition with the Company and restrictions on the solicitation of the Company’s customers and employees. For all periods during and after the term, Mr. DiMino will be subject to nondisclosure and confidentiality restrictions relating to the Company’s confidential information and trade secrets and is obligated to assign all developments, related to the Company’s business, research and development activities, to the Company.

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED

DIRECTORS' COMPENSATION

The Company does not pay fees to its directors, nor does it reimburse its directors for expenses incurred.

STOCKHOLDER MATTERS: 

The following table sets forth information regarding ownership of shares of Company’s common stock, as of July 15, 2014, by (i) each person known to ADM to be the owner of 5% or more of ADM’s common stock (ii) each director and director nominee of ADM, (iii) the Named Officer, and (iv) all directors and officers of ADM as a group. Except as otherwise indicated, each person and each group shown in the table has sole voting and investment power with respect to the shares of the Company’s common stock indicated. For purposes of the table below, in accordance with Rule 13d-3 under the Securities Exchange Act of 1934, as amended, a person is deemed to be the beneficial owner, for purposes of any shares of Common Stock over which he or she has or shares, directly or indirectly, voting or investment power; or of which he or she has the right to acquire beneficial ownership at any time within 60 days after July 15, 2014. As used herein, “voting power” is the power to vote or direct the voting of shares and “investment power” includes the power to dispose or direct the disposition of shares. Common Stock beneficially owned and percentage ownership is based on 64,939,537 shares of Common Stock outstanding as of July 15, 2015.

Name and Address	Number of Shares Beneficially Owned				Percentage
Andre' DiMino		25,880,883	(1	)		40	%
c/o ADM Tronics Unlimited, Inc.
224 Pegasus Avenue
Northvale, NJ 07647
Eugene Stricker		4,188,700	(2	)		6	%
c/o Fifth Avenue Ventire Capital Partners
42 Barrett Road
Lawrence, NY 11559
All Executive Officers and Directors as a group		25,880,883	(3	)		40	%

   _____________________________________________________________________________________________________

(1) Includes 18,691,223 shares of the Company’s common stock directly owned by Andre’ DiMino; 960 shares owned by Jenny DiMino, the spouse of Andre’ DiMino; 4,188,700 and 3,000,000 shares of the Company’s common stock held by Eugene Stricker,of which Andre’ DiMino may be deemed to be a beneficial owner by reason of his power to vote such shares pursuant to an agreement;

(2) Andre’ DiMino may be deemed to be a beneficial owner of such shares by reason of his power to vote such shares pursuant to an agreement. Reference is also made to Footnote No. 1.

(3) Reference is made to Footnote Nos. 1 and 2.

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

Director Independence

Our common stock is not listed on a national securities exchange and therefore, we are not subject to any corporate governance requirements regarding independence of board or committee members. However, we have chosen the definition of independence contained in the rules of The American Stock Exchange, LLC as a benchmark to evaluate the independence of our directors. Under the (“AMEX”) listing standards, an "independent director" of a company means a person who is not an officer or employee of the company or its subsidiaries and who the board of directors has affirmatively determined does not have a relationship that would interfere with the exercise of independent judgment in carrying out the responsibilities of a director. Our Board of Directors has determined that none of our current directors are independent directors within the meaning of the applicable AMEX listing standard.

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES

AUDIT FEES

The aggregate fees billed for professional services rendered by Raich Ende Malter & Co. LLP ("Raich") for the audit of the Company's annual consolidated financial statements for the fiscal years ended March 31, 2015 and 2014, and for the reviews of the financial statements included in the Company's Quarterly Reports on Form 10-Q for the fiscal years ended March 31, 2015 and 2014, were approximately $69,000 for each year.

AUDIT-RELATED FEES

The aggregate fees billed in each of the fiscal years ended March 31, 2015 and 2014 for assurance and related services by Raich that are reasonably related to the performance of the audit or review of the Company's financial statements and not reported above under “Audit Fees” were $0 for each year.

TAX FEES 

The aggregate fees billed in each of the fiscal years ended March 31, 2015 and 2014 for professional services rendered by Raich for tax compliance, tax advice and tax planning were $10,000 and $6,017, respectively.

ALL OTHER FEES

The aggregate fees billed in each of the fiscal years ended March 31, 2015 and March 31, 2014 for products and services provided by Raich other than the services reported above under “Audit Fees”, “Audit Related Fees” and “Tax Fees” were $0.

AUDIT COMMITTEE ADMINISTRATION OF THE ENGAGEMENT

The Company does not have an audit committee.

PART III, ITEM 15. EXHIBITS

Exhibit
No.	Description
3.1	Certificate of Incorporation and amendments thereto filed on August 9, 1976 and May 15, 1978 is incorporated by reference to Exhibit 3(a) to the Company's Registration Statement Form 10 (File No. 0-17629) (the "Form 10").
3.2	Certificate of Amendment to Certificate of Incorporation filed December 9, 1996 is incorporated by reference to Exhibit 3(a) to the Company's Annual Report on Form 10-KSB for the fiscal year ended March 31, 1997.
3.3	By-Laws are incorporated by reference to Exhibit 3(b) to the Form 10.
9.1	Trust Agreements of November 7, 1980 by and between Dr. Alfonso DiMino et al. are incorporated by reference to Exhibit 9 to the Company's Annual Report on Form 10-KSB for the fiscal year ended March 31, 1993.
10.1	Memorandum of Lease by and between the Company and Cresskill Industrial Park III dated as of August 26, 1993 is hereby incorporated by reference to Exhibit 10(a) to the Company's Annual Report on Form 10-KSB for the fiscal year March 31, 1994.
10.5	Agreement of January 17, 2003 by and between the Company and Fifth Avenue Venture Capital Partners is hereby incorporated by reference to Exhibit 10.5 to the Company's Annual Report on Form 10-KSB for the fiscal year ended March 31, 2003.
10.6	Amended and Restated Manufacturing Agreement, dated February 10, 2005, among the Company, Ivivi Technologies, Inc. and Sonotron Medical Systems, Inc. is incorporated by reference to the Company's Annual Report on Form 10-KSB for the fiscal year ended March 31, 2005.
10.7	Management Services Agreement, dated August 15, 2001, among the Company, Ivivi Technologies, Inc., Sonotron Medical Systems, Inc. and Pegasus Laboratories, Inc., as amended is incorporated by reference to the Company's Annual Report on Form 10-KSB form the fiscal year ended March 31, 2005.
10.8*	Master Services Agreement dated February 12, 2010 by and between ADM Tronics Unlimited Inc and Ivivi Health Sciences LLC.

* Filed as an exhibit to the Company's annual report on Form 10K, as filed with the SEC on June 29, 2010, and incorporated here- in by this reference.

14.1	Code of Ethics is incorporated by reference to the Company's Annual Report on Form 10-KSB for the fiscal year ended March 31, 2005.
21.1	Subsidiaries of the Company.
31.1	Certification of the Chief Executive Officer and Chief Financial Officer of the Company pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1	Certification of the Chief Executive Officer and Chief Financial Officer of the Company pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101.INS**	XBRL Instance
101.SCH**	XBRL Taxonomy Extension Schema
101.CAL**	XBRL Taxonomy Extension Calculation
101.DEF**	XBRL Taxonomy Extension Definition
101.LAB**	XBRL Taxonomy Extension Labels
101.PRE**	XBRL Taxonomy Extension Presentation

** XBRL information is furnished and not filed or a part of a registration statement or prospectus for purposes of sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized this 14th day of July, 2015.

	ADM TRONICS UNLIMITED, INC.
By:	/s/ Andre' DiMino
	Andre' Di Mino
	Chief Executive Officer

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated. 

		Title	Date
/s/	Andre' DiMino	Chief Executive Officer (Principal	July 14, 2015
	Andre' DiMino	Executive Officer, Principal
		Financial Officer and Principal
		Accounting Officer) and Director

EX-21.1

Exhibit 21.1 

Subsidiaries of the Company

Sonotron Medical Systems, Inc.

State of Incorporation: Delaware

EX-31.1

EXHIBIT 31.1

CERTIFICATION
PURSUANT TO SECTION 302 OF THE SARBANES - OXLEY ACT OF 2002

I, Andre' DiMino, certify that:

1. I have reviewed this annual report on Form 10-K of ADM Tronics Unlimited, Inc.;

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 the registrant's only certifying officer and 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 disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our 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 our 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 (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of 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 control 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 control over financial reporting.

Date: July 14, 2015	/s/ Andre' DiMino
	Andre' DiMino
	Chief Executive Officer, Chief Financial Officer

A signed original of this written statement required by Section 302 has been provided to ADM Tronics Unlimited, Inc. and will be retained by ADM Tronics Unlimited, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.1

EXHIBIT 32.1

CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350
AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of ADM Tronics Unlimited, Inc. (the "Company") on Form 10-K for the year months ended March 31, 2015, (the "Report"), filed with the Securities and Exchange Commission, Andre' DiMino, Chief Executive Officer and Chief Financial Officer, of the Company hereby certifies pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 as amended; and

(2) The information contained in the Report fairly presents, in all material respects, the consolidated financial condition of the Company as of the dates presented and the consolidated result of operations of the Company for the periods presented. 

Date: July 14, 2015	/s/ Andre' DiMino
	Chief Executive Officer and
	Chief Financial Officer

The foregoing certification is being furnished solely pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of Section 1350, Chapter 63 of Title 18, United States Code) and is not being filed as part of the Form 10-Q or as a separate disclosure document.

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to ADM Tronics Unlimited, Inc. and will be retained by ADM Tronics Unlimited, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

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Note 7 - Note Payable, Bank (Details Textual) - USD ($)	Aug. 21, 2008	Mar. 31, 2015	Mar. 31, 2014
Debt Instrument, Interest Rate, Stated Percentage		2.15%	2.15%
Debt Instrument, Face Amount	$ 200,000
Debt Instrument, Basis Spread on Variable Rate	2.00%

XML

Note 12 - Options Outstanding - Summary of Stock Option Activity (Details) - $ / shares	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Outstanding, beginning of year (in shares)	600,000	5,600,000
Outstanding, beginning of year (in dollars per share)	$ 0.01	$ 0.01
Issued (in shares)			5,600,000
Issued (in dollars per share)
Exercised (in shares)		(5,000,000)
Exercised (in dollars per share)		$ 0.01
Expired (in shares)
Expired (in dollars per share)
Outstanding, end of year (in shares)	600,000	600,000	5,600,000
Outstanding, end of year (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Exercisable, end of year (in shares)	600,000	600,000
Exercisable, end of year (in dollars per share)	$ 0.01	$ 0.01

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Note 11 - Commitments and Contingencies - Future Minimum Lease Payments (Details)	Mar. 31, 2015 USD ($)
2016	$ 104,625
2017	104,625
2018	104,625
2019	26,156
	$ 340,031

XML

Note 4 - Property and Equipment (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Depreciation	$ 3,128	$ 7,918

XML

Note 6 - Intangible Assets (Tables)

12 Months Ended

Mar. 31, 2015

Notes Tables

Schedule of Finite-Lived Intangible Assets [Table Text Block]

	March 31, 2015									March 31, 2014
	Cost		Weighted Average Amortization Period (years)		Accumulated Amortization			Net Carrying Amount		Cost		Weighted Average Amortization Period (years)		Accumulated Amortization			Net Carrying Amount
Patents & Trademarks	$	82,702		15	$	(68,221	)	$	14,481	$	82,702		15	$	(66,331	)	$	16,371
Formulas		25,446		15		(25,446	)		-		25,446		15		(25,446	)		-
Non-Compete Agreement		50,000		7		(50,000	)		-		50,000		7		(50,000	)		-
Customer List		10,000		3		(10,000	)		-		10,000		3		(10,000	)		-
	$	168,148			$	(153,667	)	$	14,481	$	168,148			$	(151,777	)	$	16,371

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

For the fiscal years ended March 31,:
2016		1,396
2017		1,396
2018		1,396
2019		1,396
2020		1,396
Thereafter		7,501
	$	14,481

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Note 10 - Income Taxes (Details Textual) - Mar. 31, 2015 - USD ($)	Total
Operating Loss Carryforwards	$ 4,300,000
Deferred Tax Assets, Valuation Allowance, Percentage	100.00%

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Note 6 - Intangible Assets - Intangible Assets (Details) - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Patents And Trademarks [Member]
Cost	$ 82,702	$ 82,702
Weighted Average Amortization Period	15 years	15 years
Accumulated Amortization	$ (68,221)	$ (66,331)
Net Carrying Amount	14,481	16,371
Formulas [Member]
Cost	$ 25,446	$ 25,446
Weighted Average Amortization Period	15 years	15 years
Accumulated Amortization	$ (25,446)	$ (25,446)
Net Carrying Amount
Noncompete Agreements [Member]
Cost	$ 50,000	$ 50,000
Weighted Average Amortization Period	7 years	7 years
Accumulated Amortization	$ (50,000)	$ (50,000)
Net Carrying Amount
Customer Lists [Member]
Cost	$ 10,000	$ 10,000
Weighted Average Amortization Period	3 years	3 years
Accumulated Amortization	$ (10,000)	$ (10,000)
Net Carrying Amount
Cost	$ 168,148	$ 168,148
Weighted Average Amortization Period
Accumulated Amortization	$ (153,667)	$ (151,777)
Net Carrying Amount	$ 14,481	$ 16,371

XML

Note 12 - Options Outstanding (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			5,600,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period		5,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value		$ 55,997
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate		4.90%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate		414.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term		1 year 182 days
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate		0.00%

XML

Note 3 - Inventory

12 Months Ended

Mar. 31, 2015

Notes to Financial Statements

Inventory Disclosure [Text Block]

NOTE 3 - INVENTOR

IES

Inventories at March 31, 2015 consisted of the following:

	Current		Long Term		Total
Raw materials	$	95,702	$	87,638	$	183,340
Finished goods		42,002		619		42,621
	$	137,704	$	88,257	$	225,961

Inventory at March 31, 2014 consisted of the following:

	Current		Long Term		Total
Raw materials	$	78,072	$	36,364	$	114,436
Finished goods		16,620		1,682		18,302
	$	94,692	$	38,046	$	132,738

The Company values its inventories at the first in, first out ("FIFO") method at the lower of cost or market.

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Note 10 - Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($)	Mar. 31, 2015	Mar. 31, 2014
Deferred tax assets (liabilities):
Net operating loss carry-forward	$ 1,718,000	$ 1,898,000
Other	11,000	2,000
Deferred tax assets	1,729,000	1,900,000
Valuation allowance	$ (1,729,000)	$ (1,900,000)
Deferred tax asset, net

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Note 12 - Options Outstanding (Tables)

12 Months Ended

Mar. 31, 2015

Notes Tables

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

	2015				2014
	# of Shares		Weighted Average Exercise Price		# of Shares			Weighted Average Exercise Price
Outstanding, beginning of year		600,000	$	0.01		5,600,000		$	0.01
Issued		-	$	-		-		$	-
Exercised		-	$	-		(5,000,000	)	$	0.01
Expired		-	$	-		-		$	-
Outstanding, end of year		600,000	$	0.01		600,000		$	0.01
Exercisable, end of year		600,000	$	0.01		600,000		$	0.01

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Note 11 - Commitments and Contingencies (Tables)

12 Months Ended

Mar. 31, 2015

Notes Tables

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

For the years ending March 31,	Amount
2016	$	104,625
2017		104,625
2018		104,625
2019		26,156
	$	340,031

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Note 10 - Income Taxes - Provision for Income Taxes (Details)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Statutory federal income tax rate	34.00%	34.00%
Statutory federal income tax rate	(34.00%)	(34.00%)
State income taxes, net of federal taxes	6.00%	(6.00%)
Valuation allowance	(40.00%)	40.00%
Effective income tax rate	0.00%	0.00%

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Note 2 - Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Maximum [Member]
Product Warranty Expense	$ 2,000	$ 2,000
Property, Plant and Equipment, Useful Life	7 years
Minimum [Member]
Property, Plant and Equipment, Useful Life	5 years
Electronic Products [Member]
Warranty Term	90 years
Electronic Controllers for Spas and Hot Tubs [Member]
Warranty Term	5 years
Product Warranty Accrual, Current	$ 0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	$ 0	$ 0
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	600,000	600,000
Advertising Expense	$ 21,564	$ 26,654
Shipping, Handling and Transportation Costs	$ 19,894	$ 9,498
Earnings Per Share, Basic and Diluted	$ 0.01	$ 0

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Note 2 - Significant Accounting Policies - Income Tax Returns Jurisdictions Subject to Examination (Details) - Earliest Tax Year [Member]	12 Months Ended
	Mar. 31, 2015
Internal Revenue Service (IRS) [Member]
Open tax years	2011
New Jersey Division of Taxation [Member]
Open tax years	2010

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Note 2 - Significant Accounting Policies

12 Months Ended

Mar. 31, 2015

Notes to Financial Statements

Significant Accounting Policies [Text Block]

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES

PRINCIPLES OF CONSOLIDATION

The consolidated financial statements include the accounts of ADM Tronics Unlimited, Inc. and its subsidiary Sonotron. All significant intercompany balances and transactions have been eliminated in consolidation.

USE OF ESTIMATES

These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and, accordingly, require management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. Significant estimates made by management include expected economic life and value of our deferred tax assets, valuation allowance, impairment of long lived assets, fair value of equity instruments for services, allowance for doubtful accounts, and warranty reserves. Actual amounts could differ from those estimates.

FAIR VALUE OF FINANCIAL INSTRUMENTS

For certain of our financial instruments, including accounts receivable, accounts payable, accrued expenses, and notes payable – bank, the carrying amounts approximate fair value due to their relatively short maturities.

CASH AND CASH EQUIVALENTS

Cash equivalents are comprised of certain highly liquid investments with maturities of three months or less when purchased. We maintain our cash in bank deposit accounts, which at times, may exceed federally insured limits. We have not experienced any losses to date as a result of this policy.

ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS

Accounts receivable are stated at the amount management expects to collect from outstanding balances. The carrying amounts of accounts receivable is reduced by a valuation allowance that reflects management's best estimate of the amounts that will not be collected. Management individually reviews all accounts receivable balances that exceed the due date and estimates the portion, if any, of the balance that will not be collected. Management provides for probable uncollectible amounts through a charge to expenses and a credit to a valuation allowance, based on its assessment of the current status of individual accounts. Balances that are still outstanding after management has used reasonable collection efforts are written off through a charge to the valuation allowance and a credit to accounts receivable.

REVENUE RECOGNITION

CHEMICAL PRODUCTS:

Revenues are recognized when products are shipped to end users. Shipments to distributors are recognized as revenue when no right of return exists.

ELECTRONICS:

We recognize revenue from the sale of our electronic products when they are shipped to the purchaser. We offer a limited 90 day warranty on our electronics products and a limited 5 year warranty on our electronic controllers for spas and hot tubs. We have no other post shipment obligations. Based on prior experience, no amounts have been accrued for potential warranty costs and actual costs were less than $2,000, for each of the fiscal years ended March 31, 2015 and 2014. For contract manufacturing, revenues are recognized after shipment of the completed products.

ENGINEERING SERVICES:

We provide certain engineering services, including research, development, quality control and quality assurance services along with regulatory compliance services. We recognize revenue from engineering services as the services are provided.

WARRANTY LIABILITIES

The Company’s provision for estimated future warranty costs is based upon historical relationship of warranty claims to sales. Based upon historical experience, the Company has concluded that no warranty liability is required as of the balance sheet dates. However, the Company periodically reviews the adequacy of its product warranties and will record an accrued warranty reserve if necessary.

RESTRICTED CASH

Restricted cash represents funds on deposit with a financial institution that secure the bank note payable.

INVENTORIES

Inventories are stated at the lower of cost (first-in, first-out method) or market. Inventories that are expected to be sold within one operating cycle (1 year) are classified as a current asset. Inventories that are not expected to be sold within 1 year, based on historical trends, are classified as Inventories - long term portion.

PROPERTY & EQUIPMENT

We record our equipment at historical cost. We expense maintenance and repairs as incurred. Depreciation is provided for by the straight-line method over five to seven years, the estimated useful lives of the property and equipment.

INTANGIBLE ASSETS

Intangible assets are reviewed for impairment whenever changes in circumstances indicate that the carrying amount may not be recoverable. In reviewing for impairment, the Company compares the carrying value of the relevant asset to the estimated undiscounted future cash flows expected from the use of the assets and their eventual disposition. When the estimated undiscounted future cash flows are less than their carrying amount, an impairment loss is recognized equal to the difference between the assets’ fair value and its carrying value.

ADVERTISING COSTS 

Advertising costs are expensed as incurred and amounted to $21,564 and $26,654 for the fiscal years ended March 31, 2015 and 2014, respectively.

SHIPPING AND HANDLING COSTS 

Shipping and handling costs incurred for the years ended March 31, 2015 and 2014 were approximately $19,894 and $9,498 respectively. Such costs are included in selling, general, and administrative expenses in the accompanying consolidated statements of operations.

INCOME TAXES

We report the results of our operations as part of a consolidated Federal tax return with our subsidiary. Deferred income taxes result primarily from temporary differences between financial and tax reporting. Deferred tax assets and liabilities are determined based on the difference between the financial statement bases and tax bases of assets and liabilities using enacted tax rates. A valuation allowance is recorded to reduce a deferred tax asset to that portion that is expected to more likely than not be realized.

The Company has adopted the authoritative accounting guidance with respect to accounting for uncertainty in income taxes, which clarified the accounting and disclosures for uncertain tax positions related to income taxes recognized in the consolidated financial statements and addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the consolidated financial statements. The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the consolidated financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority.

The Company files income tax returns in several jurisdictions. The Company’s tax returns remain subject to examination, by major jurisdiction, for the years ended March 31, as follows:

Jurisdiction	Fiscal Year
Federal	2011 and beyond
New Jersey	2010 and beyond

There are currently no tax years under examination by any major tax jurisdictions.

The Company will recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. As of March 31, 2015 and 2014, the Company has no accrued interest or penalties related to uncertain tax positions.

NET INCOME/LOSS PER SHARE

We compute basic income/loss per share by dividing net income/loss by the weighted average number of common shares outstanding. Diluted income/loss per share is computed similar to basic income/loss per share, except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential shares had been issued and if the additional shares were dilutive. Common equivalent shares are excluded from the computation of net income/loss per share if their effect is anti-dilutive.

Per share basic and diluted net income amounted to $0.01 and loss of $(0.0

0) for the fiscal years ended March 31, 2015 and 2014, respectively. The assumed exercise of common stock equivalents was not utilized in the computation of the fully diluted earnings per share for the fiscal year ended March 31, 2014, since the effect would be anti-dilutive. There were 600,000 common stock equivalents at March 31, 2015 and 2014, respectively.

RECLASSIFICATION

Certain items in the prior financial statements have been reclassified to conform to the current year presentation.

RECENT ACCOUNTING PRONOUNCEMENTS

On May 14, 2014, FASB and IASB issued a new joint revenue recognition standard that supersedes nearly all U

.S

. GAAP guidance on revenue recognition. The core principal of the standard is that revenue recognition should depict the transfer of goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. The new standard is effective for the Company for the fiscal year beginning April 1, 2017 and the effects of the standard on the Company’s consolidated financial statements are not known at this time.

Management does not believe that any other recently issued, but not yet effective accounting pronouncement, if adopted, would have a material effect on the accompanying consolidated financial statements.

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Note 3 - Inventory - Summary of Inventory (Details) - USD ($)	Mar. 31, 2015	Mar. 31, 2014
Current [Member]
Raw materials	$ 95,702	$ 78,072
Finished Goods	42,002	16,620
Inventory Gross	137,704	94,692
Long Term [Member
Raw materials	87,638	36,364
Finished Goods	619	1,682
Inventory Gross	88,257	38,046
Raw materials	183,340	114,436
Finished Goods	42,621	18,302
Inventory Gross	$ 225,961	$ 132,738

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Note 8 - Concentrations (Details Textual)	12 Months Ended
	Mar. 31, 2015 USD ($)	Mar. 31, 2014 USD ($)
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Foreign Customers [Member]
Concentration Risk, Percentage	10.50%	14.20%
Revenues	$ 305,449	$ 256,489
Sales Revenue, Net [Member] | Customer Concentration Risk [Member]
Concentration Risk, Number of Customers	2	2
Concentration Risk, Percentage	38.00%	19.00%
Accounts Receivable [Member] | Customer Concentration Risk [Member]
Concentration Risk, Number of Customers	1	2
Concentration Risk, Percentage	43.00%	33.00%
Revenues	$ 2,850,548	$ 1,809,623

XML

Consolidated Balance Sheets - USD ($)	Mar. 31, 2015	Mar. 31, 2014
Current assets:
Cash and cash equivalents	$ 216,395	$ 83,156
Accounts receivable, net of allowance for doubtful accounts of $25,000 and $3,000, respectively	616,070	271,038
Inventories	137,704	94,692
Prepaid expenses and other current assets	16,595	10,623
Restricted cash	232,525	232,264
Total current assets	1,219,289	691,773
Property and equipment, net of accumulated depreciation of $74,070 and $70,942, respectively	3,246	6,374
Inventories - long-term portion	88,257	38,046
Secured convertible note receivable, including interest of $20,900 for 2014	0	62,900
Intangible assets, net of accumulated amortization of $153,667 and $151,777, respectively	14,481	16,371
Other assets	16,144	14,764
Total other assets	122,128	138,455
Total assets	1,341,417	830,228
Current liabilities:
Note payable - bank	121,966	136,990
Accounts payable	329,291	208,248
Accrued expenses and other current liabilities	221,106	312,901
Customer deposits	99,102	24,770
Due to shareholder	223,849	160,006
Total current liabilities	995,314	842,915
Total liabilities	$ 995,314	$ 842,915
Stockholders' equity (deficiency):
Preferred stock, $.01 par value; 5,000,000 shares authorized, no shares issued and outstanding
Common stock, $0.0005 par value; 150,000,000 authorized, 64,939,537 shares issued and outstanding at March 31, 2015 and 2014, respectively	$ 32,470	$ 32,470
Additional paid-in capital	32,298,094	32,298,094
Accumulated deficit	(31,984,461)	(32,343,251)
Total stockholders' equity (deficiency)	346,103	(12,687)
Total liabilities and stockholders' equity (deficiency)	$ 1,341,417	$ 830,228

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Note 11 - Commitments and Contingencies (Details Textual) - USD ($)			12 Months Ended
	Oct. 01, 2013	Feb. 12, 2010	Mar. 31, 2015	Mar. 31, 2014
IHS [Member] | Monthly [Member]
Sales Revenue, Services, Net	$ 3,000
IHS [Member] | Engineering Services [Member]
Sales Revenue, Services, Net			$ 36,300	$ 46,648
IHS [Member]
Sales Revenue, Goods, Gross			0	52,648
Operating Leases, Rent Expense			$ 126,000	$ 125,000
Percentage of Cost Paid by Agreement		120.00%

XML

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net income (loss)	$ 358,790	$ (225,214)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	5,018	46,297
Bad debt	$ 22,000	2,500
Interest receivable		(4,200)
Write-off of inventories	$ 8,206	$ 69,489
Forgiveness of note receivable - Wellington	62,900
Increase (decrease) in cash flows as a result of changes in net assets and liabilities balances:
Accounts receivable	(367,032)	$ (114,412)
Inventories	(101,429)	33,701
Prepaid expenses and other current assets	(5,972)	$ 10,077
Other assets	(380)
Accounts payable	121,043	$ 21,875
Accrued expenses and other current liabilities	(91,795)	111,832
Customer deposit	74,332	$ 690
Due to shareholder	63,843
Net cash (used in) provided operating activities	$ 149,524	$ (47,365)
Cash flows from investing activities:
Repayment from related party		11,916
Restricted cash	$ (261)	(482)
Exercise of options		$ 25,000
Other assets-investment in Angiodroid	$ (1,000)
Net cash provided (used in) by investing activities	(1,261)	$ 36,434
Cash flows used in financing activities:
Repayments on note payable - Bank	(15,024)	(11,000)
Net cash used in financing activities	(15,024)	(11,000)
Net increase (decrease) in cash and cash equivalents	133,239	(21,931)
Cash and cash equivalents - beginning of year	83,156	105,087
Cash and cash equivalents - end of year	216,395	83,156
Cash paid for:
Interest	$ 2,797	$ 2,842

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Note 5 - Secured Convertible Note Receivable (Details Textual) - USD ($)	Jun. 04, 2009	Mar. 31, 2015	Mar. 31, 2014	Jul. 15, 2012
Notes, Loans and Financing Receivable, Gross, Noncurrent	$ 50,000	$ 0	$ 62,900	$ 50,000
Payments to Acquire Notes Receivable	10,000
Other Significant Noncash Transaction, Value of Consideration Given	40,000
Note Receivable Interest Rate				10.00%
Convertible Note Receivable Conversion Price Denominator	$ 2,000,000

XML

Note 2 - Significant Accounting Policies (Tables)

12 Months Ended

Mar. 31, 2015

Notes Tables

Summary of Income Tax Examinations [Table Text Block]

Jurisdiction	Fiscal Year
Federal	2011 and beyond
New Jersey	2010 and beyond

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Note 6 - Intangible Assets (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life	3 years
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life	15 years
Finite-Lived Intangible Assets, Remaining Amortization Period	5 years 328 days
Amortization of Intangible Assets	$ 1,890	$ 38,379

XML

Note 4 - Property and Equipment (Tables)

12 Months Ended

Mar. 31, 2015

Notes Tables

Property, Plant and Equipment [Table Text Block]

	2015			2014
Computer equipment	$	13,364		$	13,364
Machinery and equipment		60,202			60,202
Leasehold improvements		3,750			3,750
		77,316			77,316
Accumulated depreciation		(74,070	)		(70,942	)
Property and equipment, net	$	3,246		$	6,374

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Note 1 - Nature of Business

12 Months Ended

Mar. 31, 2015

Notes to Financial Statements

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

NOTE 1 – NATURE OF BUSINESS

ADM Tronics Unlimited, Inc. ("we", "us", "the Company" or "ADM"), was incorporated under the laws of the state of Delaware on November 24, 1969. We are a manufacturing and engineering concern whose principal lines of business are the production and sale of chemical products; the design, manufacture and sale of electronics of our own products or on a contract manufacturing basis; and, research, development and engineering services. On July 17, 2009, we purchased the assets of Antistatic Industries of Delaware, Inc., a company involved in the research, development and manufacture of water-based and proprietary electrically conductive paints, coatings and other products and accessories which can be used by electronics, computer, pharmaceutical and chemical companies to prevent, reduce or eliminate static electricity.

Our chemical product line is principally comprised of water-based chemical products used in the food packaging and converting industries, and anti-static conductive paints, coatings and other products. These products are sold to customers located in the United States, Australia, Asia and Europe. Electronic equipment is manufactured in accordance with customer specifications on a contract basis. Our electronic device product line consists principally of proprietary devices used in diagnostics and therapeutics of humans and animals and electronic controllers for spas and hot tubs. These products are sold to customers located principally in the United States. We are registered with the FDA as a contract manufacturing facility and we manufacture medical devices for customers in accordance with their designs and specifications. We also provide research, development, regulatory and engineering services to customers. Our Sonotron Medical Systems, Inc. subsidiary (“Sonotron”) is involved in medical electronic therapeutic technology

.

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Consolidated Balance Sheets (Parentheticals) - USD ($)	Mar. 31, 2015	Mar. 31, 2014
Allowance for doubtful accounts	$ 25,000	$ 3,000
Accumulated depreciation	$ 74,070	70,942
Secured convertible note receivable interest		20,900
Accumulated amortization	$ 153,667	$ 151,777
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0005	$ 0.0005
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	64,939,537	64,939,537
Common stock, shares outstanding (in shares)	64,939,537	64,939,537

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Note 11 - Commitments and Contingencies

12 Months Ended

Mar. 31, 2015

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

NOTE 1

1

- COMMITMENTS AND CONTINGENCIES

We lease our office and manufacturing facility under a non-cancelable operating lease, which expires on June 30, 2019. The Company’s future minimum lease commitment at March 31, 2015 is as follows:

For the years ending March 31,	Amount
2016	$	104,625
2017		104,625
2018		104,625
2019		26,156
	$	340,031

Rent and real estate tax expense for all facilities for the years ended March 31, 2015 and 2014 was approximately $126,000 and $125,000

, respectively.

MASTER SERVICES AGREEMENT

On February 12, 2010, ADM agreed to provide certain services to Ivivi Health Sciences, LLC (IHS) pursuant to a Master Services Agreement, as described below:

● We provided IHS with engineering services, including quality control and quality assurance services along with regulatory compliance services, warehouse fulfillment services and network administrative services including hardware and software services;

● Effective October 1, 2013, the monthly amount paid by IHS for these services was $3,000 plus additional amounts for individual projects requested from time to time by IHS. Pursuant to this agreement, revenues from engineering services to IHS for the year ended March 31, 2015 and 2014 were $36,300 and $46,648, respectively.

MANUFACTURING AGREEMENT

Under the terms of the February 12, 2010 manufacturing agreement with IHS, ADM has agreed to serve as the exclusive manufacturer of all current and future medical and non-medical electronic and other electronic devices or products to be sold or rented by IHS. For each product that ADM manufactures, IHS pays ADM an amount equal to 120% of the sum of (i) the actual, invoiced cost for raw materials, parts, components or other physical items that are used in the manufacture of product and actually purchased for such entity by ADM, if any, plus (ii) a labor charge the based on ADM’s standard hourly manufacturing labor rate, which ADM believes is more favorable than could be attained from unaffiliated third parties. Under the terms of the Agreement, if ADM is unable to perform its obligations to IHS under the manufacturing agreement or is otherwise in breach of any provision of the manufacturing agreement, IHS has the right, without penalty, to engage third parties to manufacture some or all of its products. In addition, if IHS elects to utilize a third-party manufacturer to supplement the manufacturing being completed by ADM, IHS has the right to require ADM to accept delivery of its products from these third-party manufacturers, finalize the manufacture of the products to the extent necessary to ensure that the design, testing, control, documentation and other quality assurance procedures during all aspects of the manufacturing process have been met.

Pursuant to the manufacturing agreement, sales of finished goods to IHS for the years ended March 31, 2015 and 2014 were $-0- and $52,648, respectively.

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Document And Entity Information - USD ($)	12 Months Ended
	Mar. 31, 2015	Jul. 15, 2015	Sep. 30, 2014
Entity Registrant Name	ADM TRONICS UNLIMITED INC/DE
Entity Central Index Key	0000849401
Current Fiscal Year End Date	--03-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		64,939,537
Entity Public Float			$ 4,687,038
Document Type	10-K
Document Period End Date	Mar. 31, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	FY
Amendment Flag	false

XML

Note 12 - Options Outstanding

12 Months Ended

Mar. 31, 2015

Notes to Financial Statements

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

NOTE 1

2

– OPTIONS OUTSTANDING 

During 2013, ADM granted an aggregate of 5,600,000 stock options to employees and consultants expiring at various dates through fiscal 2015. During 2014, 5,000,000 of the outstanding stock options were exercised. The options have various exercise prices and were fully vested at the date of grant. The options were valued at $55,997 using the Black Scholes option pricing model with the following assumptions: risk free interest rate of 4.9%, volatility of 414%, estimated useful life of 1.5 years and dividend rate of 0%. The following table summarizes information on all common share purchase options issued by us as of March 31, 2015 and 2014

.

	2015				2014
	# of Shares		Weighted Average Exercise Price		# of Shares			Weighted Average Exercise Price
Outstanding, beginning of year		600,000	$	0.01		5,600,000		$	0.01
Issued		-	$	-		-		$	-
Exercised		-	$	-		(5,000,000	)	$	0.01
Expired		-	$	-		-		$	-
Outstanding, end of year		600,000	$	0.01		600,000		$	0.01
Exercisable, end of year		600,000	$	0.01		600,000		$	0.01

XML

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Net revenues	$ 2,850,548	$ 1,809,623
Cost of sales	1,485,590	1,053,930
Gross Profit	1,364,958	755,693
Operating expenses:
Research and development	38,055	34,859
Selling, general, and administrative	1,073,342	901,892
Depreciation and amortization	3,612	42,734
Total operating expenses	1,115,009	979,485
Income (loss) from operations	249,949	(223,792)
Other income (expense):
Interest income	301	4,808
Interest expense	(6,234)	$ (6,230)
Gain on settlement - Wellington	114,774
Total other income	108,841	$ (1,422)
Net income (loss)	$ 358,790	$ (225,214)
Basic and diluted net income (loss) per common share: (in dollars per share)	$ 0.01	$ 0
Weighted average shares of common stock outstanding - basic (in shares)	64,939,537	64,939,537
Weighted average shares of common stock outstanding - diluted (in shares)	65,539,537	65,539,537

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Note 6 - Intangible Assets

12 Months Ended

Mar. 31, 2015

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

NOTE

6

- INTANGIBLE ASSETS

Intangible assets are being amortized using the straight line method over periods ranging from 3-15 years with a weighted average remaining life of approximately 5.9 years.

	March 31, 2015									March 31, 2014
	Cost		Weighted Average Amortization Period (years)		Accumulated Amortization			Net Carrying Amount		Cost		Weighted Average Amortization Period (years)		Accumulated Amortization			Net Carrying Amount
Patents & Trademarks	$	82,702		15	$	(68,221	)	$	14,481	$	82,702		15	$	(66,331	)	$	16,371
Formulas		25,446		15		(25,446	)		-		25,446		15		(25,446	)		-
Non-Compete Agreement		50,000		7		(50,000	)		-		50,000		7		(50,000	)		-
Customer List		10,000		3		(10,000	)		-		10,000		3		(10,000	)		-
	$	168,148			$	(153,667	)	$	14,481	$	168,148			$	(151,777	)	$	16,371

Amortization expense was $1,890 and $38,379 for the years ended March 31, 2015 and 2014, respectively.

Estimated aggregate future amortization expense related to intangible assets is as follows:

For the fiscal years ended March 31,:
2016		1,396
2017		1,396
2018		1,396
2019		1,396
2020		1,396
Thereafter		7,501
	$	14,481

XML

Note 5 - Secured Convertible Note Receivable

12 Months Ended

Mar. 31, 2015

Notes to Financial Statements

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

NOTE 5 – SECURED CONVERTIBLE NOTE RECEIVABLE

On June 4, 2009 the Company invested in Wellington Scientific, LLC (“Wellington”) which has rights to an electronic uroflowmetry diagnostic medical device technology. The Company invested a total of $50,000, with $10,000 provided in cash, and $40,000 in services to Wellington. Wellington issued a convertible note to the Company for a principal amount of $50,000 with an interest rate of 10% due at various dates through July 15, 2012. The total of the note receivable and accrued interest at March 31, 2014 was $62,900. At the option of the Company, the Note is convertible in whole or in part, into equity of Wellington. The conversion price, and resulting equity ownership percentage in Wellington, is determined by dividing the cash value of principal and accrued interest by $2,000,000. The note was forgiven by the Company during February 2015. Accordingly, as of March 31, 2015 and 2014 the note receivable amounted to $-0- and $62,900, respectively. See Note 13 - Legal Proceedings.

XML

Note 3 - Inventory (Tables)

12 Months Ended

Mar. 31, 2015

Notes Tables

Schedule Of Inventory [Table Text Block]

	Current		Long Term		Total
Raw materials	$	95,702	$	87,638	$	183,340
Finished goods		42,002		619		42,621
	$	137,704	$	88,257	$	225,961

	Current		Long Term		Total
Raw materials	$	78,072	$	36,364	$	114,436
Finished goods		16,620		1,682		18,302
	$	94,692	$	38,046	$	132,738

XML

Note 13 - Legal Proceedings

12 Months Ended

Mar. 31, 2015

Notes to Financial Statements

Legal Matters and Contingencies [Text Block]

NOTE 1

3

- LEGAL PROCEEDINGS

In August 2012, the Company filed a civil suit in the Superior Court of New Jersey against defendants Wellington Scientific LLC (“Wellington”) and Peter F. Lordi, demanding payment of the convertible note receivable from Wellington in the amount of $50,000 (plus accrued interest). The Company sued for breach of contract, fraud in the inducement, and other claims. A counterclaim was filed by the defendants.

In February 2015 the suit was settled and the claims and counterclaims were dismissed with prejudice including the forgiveness of the convertible note receivable and accrued interest. In accordance with the settlement agreement for the seven years subsequent to the settlement date the Company has agreed to pay Wellington no royalties on the first $500,000 of any future sales of electronic uroflowmetry diagnostic medical device technology; 1% on future sales from $500,000 to $1,000,000; 2% from $1,000,000 to $2,000,000; 4% from $2,000,000 to $10,000,000 and, then a reduced royalty of 2% on any future sales above $10,000,000. In addition Lordi and Wellington have disclaimed any future right, title or interest in the electronic uroflowmetry diagnostic medical device technology and any intellectual property related thereto or any related or successor devices that the Company may develop.

We are involved, from time to time, in litigation and proceedings arising out of the ordinary course of business. Other than the foregoing, there are no pending material legal proceedings or environmental investigations to which we are a party or to which our property is subject.

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Note 9 - Segment Information

12 Months Ended

Mar. 31, 2015

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

NOTE 9 - SEGMENT INFORMATION

Information about segments is as follows:

	Chemical		Electronics			Engineering			Total
Year ended March 31, 2015
Revenue from external customers	$	1,107,946	$	839,306		$	933,296		$	2,850,848
Segment operating income (loss)	$	126,907	$	(53,127	)	$	176,169		$	249,949
Year ended March 31, 2014
Revenue from external customers	$	1,099,977	$	457,829		$	251,817		$	1,809,623
Segment operating income (loss)	$	1,469	$	(194,249	)	$	(31,012	)	$	(223,792	)
Total assets at March 31, 2015	$	509,738	$	389,011		$	442,868		$	1,341,417
Total assets at March 31, 2014	$	506,439	$	207,557		$	116,232		$	830,228

XML

Note 7 - Note Payable, Bank

12 Months Ended

Mar. 31, 2015

Notes to Financial Statements

Debt Disclosure [Text Block]

NOTE

7

– NOTE PAYABLE, BANK

On August 21, 2008, the Company entered into a note payable with a commercial bank in the amount of $200,000. This note bears interest at a rate of 2% above the interest rate for the Company’s savings account at this bank. Interest rates at March 31, 2015 and 2014 were 2.15% for each year. The note is secured by cash on deposit with the institution, which is classified as restricted cash. Amounts outstanding under the note are payable on demand, and interest is payable monthly.

XML

Note 8 - Concentrations

12 Months Ended

Mar. 31, 2015

Notes to Financial Statements

Concentration Risk Disclosure [Text Block]

NOTE

8

–

CONCENTRATIONS

During the year ended March 31, 2015, two customers accounted for 38% of our net revenues. As of March 31, 2015, one customer accounted for 43% of our accounts receivable.

During the year ended March 31, 2014, two customers accounted for 19% of our net revenues. As of March 31, 2014, two customers accounted for 33% of our accounts receivable.

The Company’s customer base is comprised of foreign and domestic entities with diverse demographics. Revenues from foreign customers represented $305,449 of net revenue or 1

0.5% for the year ended March 31, 2015. Revenues from foreign customers represented $256,489 of net revenue or 14.2% for the year ended March 31, 2014

.

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Note 10 - Income Taxes

12 Months Ended

Mar. 31, 2015

Notes to Financial Statements

Income Tax Disclosure [Text Block]

NOTE 10 - INCOME TAXES

At March 31, 2015, the Company had federal and state net operating loss carry-forwards, (NOL’s) of approximately $4,300,000, which are due to expire through fiscal 2033. These NOLs may be used to offset future taxable income through their respective expiration dates and thereby reduce or eliminate our federal and state income taxes otherwise payable. A valuation allowance is provided when it is more likely than not that some portion or all of the deferred tax assets will not be realized. Ultimate utilization of such NOL’s and credits is dependent upon the Company’s ability to generate taxable income in future periods and may be significantly curtailed if a significant change in ownership occurs.

Due to the uncertainty related to future taxable income, the Company provides a 100% valuation allowance for the deferred tax benefit resulting from the NOL’s and depreciation and amortization.

Significant components of deferred tax assets and liabilities are as follows as of March 31, 2015 and 2014:

	2015			2014
Deferred tax assets (liabilities):
Net operating loss carry-forward	$	1,718,000		$	1,898,000
Other		11,000			2,000
Deferred tax assets		1,729,000			1,900,000
Valuation allowance		(1,729,000	)		(1,900,000	)
Deferred tax asset, net	$	-		$	-

The provision for income taxes at March 31, 2015 and 2014 differs from that amount using the statutory federal income tax rate as follows:

	2015			2014
Statutory federal income tax rate		34	%		(34	%)
State income taxes, net of federal taxes		6			(6	)
Valuation allowance		(40	)		40
Effective income tax rate		0	%		0	%

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Note 4 - Property and Equipment - Property and Equipment (Details) - USD ($)	Mar. 31, 2015	Mar. 31, 2014
Computer equipment	$ 13,364	$ 13,364
Machinery and equipment	60,202	60,202
Leasehold improvements	3,750	3,750
	77,316	77,316
Accumulated depreciation	(74,070)	(70,942)
Property and equipment, net	$ 3,246	$ 6,374

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Significant Accounting Policies (Policies)

12 Months Ended

Mar. 31, 2015

Accounting Policies [Abstract]

Consolidation, Policy [Policy Text Block]

PRINCIPLES OF CONSOLIDATION

The consolidated financial statements include the accounts of ADM Tronics Unlimited, Inc. and its subsidiary Sonotron. All significant intercompany balances and transactions have been eliminated in consolidation.

Use of Estimates, Policy [Policy Text Block]

USE OF ESTIMATES

These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and, accordingly, require management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. Significant estimates made by management include expected economic life and value of our deferred tax assets, valuation allowance, impairment of long lived assets, fair value of equity instruments for services, allowance for doubtful accounts, and warranty reserves. Actual amounts could differ from those estimates.

Fair Value of Financial Instruments, Policy [Policy Text Block]

FAIR VALUE OF FINANCIAL INSTRUMENTS

For certain of our financial instruments, including accounts receivable, accounts payable, accrued expenses, and notes payable – bank, the carrying amounts approximate fair value due to their relatively short maturities.

Cash and Cash Equivalents, Policy [Policy Text Block]

CASH AND CASH EQUIVALENTS

Cash equivalents are comprised of certain highly liquid investments with maturities of three months or less when purchased. We maintain our cash in bank deposit accounts, which at times, may exceed federally insured limits. We have not experienced any losses to date as a result of this policy.

Receivables, Policy [Policy Text Block]

ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS

Accounts receivable are stated at the amount management expects to collect from outstanding balances. The carrying amounts of accounts receivable is reduced by a valuation allowance that reflects management's best estimate of the amounts that will not be collected. Management individually reviews all accounts receivable balances that exceed the due date and estimates the portion, if any, of the balance that will not be collected. Management provides for probable uncollectible amounts through a charge to expenses and a credit to a valuation allowance, based on its assessment of the current status of individual accounts. Balances that are still outstanding after management has used reasonable collection efforts are written off through a charge to the valuation allowance and a credit to accounts receivable.

Revenue Recognition, Policy [Policy Text Block]

REVENUE RECOGNITION

CHEMICAL PRODUCTS:

Revenues are recognized when products are shipped to end users. Shipments to distributors are recognized as revenue when no right of return exists.

ELECTRONICS:

We recognize revenue from the sale of our electronic products when they are shipped to the purchaser. We offer a limited 90 day warranty on our electronics products and a limited 5 year warranty on our electronic controllers for spas and hot tubs. We have no other post shipment obligations. Based on prior experience, no amounts have been accrued for potential warranty costs and actual costs were less than $2,000, for each of the fiscal years ended March 31, 2015 and 2014. For contract manufacturing, revenues are recognized after shipment of the completed products.

ENGINEERING SERVICES:

We provide certain engineering services, including research, development, quality control and quality assurance services along with regulatory compliance services. We recognize revenue from engineering services as the services are provided.

Guarantees, Indemnifications and Warranties Policies [Policy Text Block]

WARRANTY LIABILITIES

The Company’s provision for estimated future warranty costs is based upon historical relationship of warranty claims to sales. Based upon historical experience, the Company has concluded that no warranty liability is required as of the balance sheet dates. However, the Company periodically reviews the adequacy of its product warranties and will record an accrued warranty reserve if necessary.

Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]

RESTRICTED CASH

Restricted cash represents funds on deposit with a financial institution that secure the bank note payable.

Inventory, Policy [Policy Text Block]

INVENTORIES

Inventories are stated at the lower of cost (first-in, first-out method) or market. Inventories that are expected to be sold within one operating cycle (1 year) are classified as a current asset. Inventories that are not expected to be sold within 1 year, based on historical trends, are classified as Inventories - long term portion.

Property, Plant and Equipment, Policy [Policy Text Block]

PROPERTY & EQUIPMENT

We record our equipment at historical cost. We expense maintenance and repairs as incurred. Depreciation is provided for by the straight-line method over five to seven years, the estimated useful lives of the property and equipment.

Intangible Assets, Finite-Lived, Policy [Policy Text Block]

INTANGIBLE ASSETS

Intangible assets are reviewed for impairment whenever changes in circumstances indicate that the carrying amount may not be recoverable. In reviewing for impairment, the Company compares the carrying value of the relevant asset to the estimated undiscounted future cash flows expected from the use of the assets and their eventual disposition. When the estimated undiscounted future cash flows are less than their carrying amount, an impairment loss is recognized equal to the difference between the assets’ fair value and its carrying value.

Advertising Costs, Policy [Policy Text Block]

ADVERTISING COSTS 

Advertising costs are expensed as incurred and amounted to $21,564 and $26,654 for the fiscal years ended March 31, 2015 and 2014, respectively.

Shipping and Handling Cost, Policy [Policy Text Block]

SHIPPING AND HANDLING COSTS 

Shipping and handling costs incurred for the years ended March 31, 2015 and 2014 were approximately $19,894 and $9,498 respectively. Such costs are included in selling, general, and administrative expenses in the accompanying consolidated statements of operations.

Income Tax, Policy [Policy Text Block]

INCOME TAXES

We report the results of our operations as part of a consolidated Federal tax return with our subsidiary. Deferred income taxes result primarily from temporary differences between financial and tax reporting. Deferred tax assets and liabilities are determined based on the difference between the financial statement bases and tax bases of assets and liabilities using enacted tax rates. A valuation allowance is recorded to reduce a deferred tax asset to that portion that is expected to more likely than not be realized.

The Company has adopted the authoritative accounting guidance with respect to accounting for uncertainty in income taxes, which clarified the accounting and disclosures for uncertain tax positions related to income taxes recognized in the consolidated financial statements and addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the consolidated financial statements. The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the consolidated financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority.

The Company files income tax returns in several jurisdictions. The Company’s tax returns remain subject to examination, by major jurisdiction, for the years ended March 31, as follows:

Jurisdiction	Fiscal Year
Federal	2011 and beyond
New Jersey	2010 and beyond

There are currently no tax years under examination by any major tax jurisdictions.

The Company will recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. As of March 31, 2015 and 2014, the Company has no accrued interest or penalties related to uncertain tax positions.

Earnings Per Share, Policy [Policy Text Block]

NET INCOME/LOSS PER SHARE

We compute basic income/loss per share by dividing net income/loss by the weighted average number of common shares outstanding. Diluted income/loss per share is computed similar to basic income/loss per share, except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential shares had been issued and if the additional shares were dilutive. Common equivalent shares are excluded from the computation of net income/loss per share if their effect is anti-dilutive.

Per share basic and diluted net income amounted to $0.01 and loss of $(0.0

0) for the fiscal years ended March 31, 2015 and 2014, respectively. The assumed exercise of common stock equivalents was not utilized in the computation of the fully diluted earnings per share for the fiscal year ended March 31, 2014, since the effect would be anti-dilutive. There were 600,000 common stock equivalents at March 31, 2015 and 2014, respectively.

Reclassification, Policy [Policy Text Block]

RECLASSIFICATION

Certain items in the prior financial statements have been reclassified to conform to the current year presentation.

New Accounting Pronouncements, Policy [Policy Text Block]

RECENT ACCOUNTING PRONOUNCEMENTS

On May 14, 2014, FASB and IASB issued a new joint revenue recognition standard that supersedes nearly all U

.S

. GAAP guidance on revenue recognition. The core principal of the standard is that revenue recognition should depict the transfer of goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. The new standard is effective for the Company for the fiscal year beginning April 1, 2017 and the effects of the standard on the Company’s consolidated financial statements are not known at this time.

Management does not believe that any other recently issued, but not yet effective accounting pronouncement, if adopted, would have a material effect on the accompanying consolidated financial statements.

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Note 9 - Segment Information (Tables)

12 Months Ended

Mar. 31, 2015

Notes Tables

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	Chemical		Electronics			Engineering			Total
Year ended March 31, 2015
Revenue from external customers	$	1,107,946	$	839,306		$	933,296		$	2,850,848
Segment operating income (loss)	$	126,907	$	(53,127	)	$	176,169		$	249,949
Year ended March 31, 2014
Revenue from external customers	$	1,099,977	$	457,829		$	251,817		$	1,809,623
Segment operating income (loss)	$	1,469	$	(194,249	)	$	(31,012	)	$	(223,792	)
Total assets at March 31, 2015	$	509,738	$	389,011		$	442,868		$	1,341,417
Total assets at March 31, 2014	$	506,439	$	207,557		$	116,232		$	830,228

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Note 13 - Legal Proceedings (Details Textual) - USD ($)	1 Months Ended
	Feb. 28, 2015	Aug. 31, 2012
Lawsuit Against Wellington Scientific LLC and Peter F. Lordi [Member] | Royalties to be Paid in Year 1 [Member]
Litigation Settlement, Percentage of Royalties to be Paid	0.00%
Future Sales from Electronic Products	$ 500,000
Lawsuit Against Wellington Scientific LLC and Peter F. Lordi [Member] | Royalties to be Paid in Year 2 [Member] | Minimum [Member]
Future Sales from Electronic Products	500,000
Lawsuit Against Wellington Scientific LLC and Peter F. Lordi [Member] | Royalties to be Paid in Year 2 [Member] | Maximum [Member]
Future Sales from Electronic Products	$ 1,000,000
Lawsuit Against Wellington Scientific LLC and Peter F. Lordi [Member] | Royalties to be Paid in Year 2 [Member]
Litigation Settlement, Percentage of Royalties to be Paid	1.00%
Lawsuit Against Wellington Scientific LLC and Peter F. Lordi [Member] | Royalties to be Paid in Year 3 [Member] | Minimum [Member]
Future Sales from Electronic Products	$ 1,000,000
Lawsuit Against Wellington Scientific LLC and Peter F. Lordi [Member] | Royalties to be Paid in Year 3 [Member] | Maximum [Member]
Future Sales from Electronic Products	$ 2,000,000
Lawsuit Against Wellington Scientific LLC and Peter F. Lordi [Member] | Royalties to be Paid in Year 3 [Member]
Litigation Settlement, Percentage of Royalties to be Paid	2.00%
Lawsuit Against Wellington Scientific LLC and Peter F. Lordi [Member] | Royalties to be Paid in Year 4 [Member] | Minimum [Member]
Future Sales from Electronic Products	$ 2,000,000
Lawsuit Against Wellington Scientific LLC and Peter F. Lordi [Member] | Royalties to be Paid in Year 4 [Member] | Maximum [Member]
Future Sales from Electronic Products	$ 10,000,000
Lawsuit Against Wellington Scientific LLC and Peter F. Lordi [Member] | Royalties to be Paid in Year 4 [Member]
Litigation Settlement, Percentage of Royalties to be Paid	4.00%
Lawsuit Against Wellington Scientific LLC and Peter F. Lordi [Member] | Royalties to be Paid in Year 5 and Thereafter [Member] | Minimum [Member]
Future Sales from Electronic Products	$ 10,000,000
Lawsuit Against Wellington Scientific LLC and Peter F. Lordi [Member] | Royalties to be Paid in Year 5 and Thereafter [Member]
Litigation Settlement, Percentage of Royalties to be Paid	2.00%
Loss Contingency, Damages Sought, Value		$ 50,000

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Note 9 - Segment Information - Summary of Segment Information (Details) - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Chemical [Member]
Revenues	$ 1,107,946	$ 1,099,977
Segment operating income (loss)	126,907	1,469
Total assets	509,738	506,439
Electronics [Member]
Revenues	839,306	457,829
Segment operating income (loss)	(53,127)	(194,249)
Total assets	389,011	207,557
Engineering [Member]
Revenues	933,296	251,817
Segment operating income (loss)	176,169	(31,012)
Total assets	442,868	116,232
Revenues	2,850,548	1,809,623
Segment operating income (loss)	249,949	(223,792)
Total assets	$ 1,341,417	$ 830,228

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Consolidated Statement of Changes in Stockholders' Equity (Deficiency) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Mar. 31, 2014	64,939,537			64,939,537
Balance at Mar. 31, 2014	$ 32,470	$ 32,298,094	$ (32,343,251)	$ (12,687)
Exercise of options (in shares)	5,000,000			5,000,000
Exercise of options	$ 2,500	$ 22,500		$ 25,000
Net loss			$ (225,214)	$ (225,214)
Balance (in shares) at Mar. 31, 2015	64,939,537			64,939,537
Balance at Mar. 31, 2015	$ 32,470	$ 32,298,094	(31,984,461)	$ 346,103
Exercise of options (in shares)
Net loss			$ 358,790	$ 358,790

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Note 4 - Property and Equipment

12 Months Ended

Mar. 31, 2015

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

NOTE 4 - PROPERTY AND EQUIPMENT

Property and equipment as of March 31, 2015 and 2014 consisted of the following:

	2015			2014
Computer equipment	$	13,364		$	13,364
Machinery and equipment		60,202			60,202
Leasehold improvements		3,750			3,750
		77,316			77,316
Accumulated depreciation		(74,070	)		(70,942	)
Property and equipment, net	$	3,246		$	6,374

Depreciation expense related to property and equipment amounted to $3,128 and $7,918 for the years ended March 31, 2015 and 2014, respectively.

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Note 10 - Income Taxes (Tables)

12 Months Ended

Mar. 31, 2015

Notes Tables

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	2015			2014
Deferred tax assets (liabilities):
Net operating loss carry-forward	$	1,718,000		$	1,898,000
Other		11,000			2,000
Deferred tax assets		1,729,000			1,900,000
Valuation allowance		(1,729,000	)		(1,900,000	)
Deferred tax asset, net	$	-		$	-

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	2015			2014
Statutory federal income tax rate		34	%		(34	%)
State income taxes, net of federal taxes		6			(6	)
Valuation allowance		(40	)		40
Effective income tax rate		0	%		0	%

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Label	Element	Value
us-gaap_StockholdersEquity	us-gaap_StockholdersEquity	$ 187,527
Additional Paid-in Capital [Member]
us-gaap_StockholdersEquity	us-gaap_StockholdersEquity	$ 32,275,594
Common Stock [Member]
Common stock, shares issued (in shares)	us-gaap_CommonStockSharesIssued	59,939,537
us-gaap_StockholdersEquity	us-gaap_StockholdersEquity	$ 29,970
Retained Earnings [Member]
us-gaap_StockholdersEquity	us-gaap_StockholdersEquity	$ (32,118,037)

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Note 6 - Intangible Assets - Estimated Aggregate Future Amortization Expense (Details) - USD ($)	Mar. 31, 2015
2016	$ 1,396
2017	1,396
2018	1,396
2019	1,396
2020	1,396
Thereafter	7,501
	$ 14,481

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Note 14 - Subsequent Events

12 Months Ended

Mar. 31, 2015

Notes to Financial Statements

Subsequent Events [Text Block]

NOTE 14 – SUBSEQUENT EVENTS

We evaluated all subsequent events from the date of the condensed consolidated balance sheet through the issuance date of this report and determined that there are no events or transactions occurring during the subsequent event reporting period which require recognition or disclosure in the condensed consolidated financial statements.