UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
__________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 14, 2015
ADM Tronics Unlimited, Inc.
(Exact name of registrant as specified in its charter)
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Delaware (State or other jurisdiction of incorporation) |
000-17629 (Commission File Number) |
22-1896032 (IRS Employer Identification No.) |
224-S Pegasus Avenue, Northvale, New Jersey 07647
(Address of principal executive offices) (Zip Code)
(201) 767-6040
Registrant's Telephone Number
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).
Item 2.02. Results of Operations and Financial Condition.
On July 14, 2015, ADM Tronics Unlimited, Inc. (the “Company”) issued a press release regarding results for the fiscal year ended March 31, 2015. A copy of this press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information in this report under Item 2.02 is being furnished pursuant to Item 2.02 of Form 8-K, insofar as it discloses historical information regarding the Company’s results of operations and financial condition as of and for the fiscal year ended March 31, 2015. In accordance with General Instructions B.2 of Form 8-K, the information in this Current Report on Form 8-K under Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.
Forward Looking Statements
This Current Report on Form 8-K, including Exhibit 99.1, contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements typically are identified by use of terms such as “may,” “will,” “should,” “plan,” “expect,” “anticipate,” “estimate” and similar words, although some forward-looking statements are expressed differently. Forward-looking statements represent our management’s judgment regarding future events. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, the Company can give no assurance that such expectations will prove to be correct. All statements other than statements of historical fact included in this Current Report on Form 8-K are forward-looking statements. The Company cannot guarantee the accuracy of the forward-looking statements, and you should be aware that the Company’s 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” contained in the Company’s reports filed with the Securities and Exchange Commission.
Item 9.01. Financial Statements and Exhibits.
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(d) |
Exhibits |
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Exhibit 99.1 – |
Press release, dated July 14, 2015, regarding results for the fiscal year ended March 31, 2015 (Exhibit 99.1 is furnished as part of this Current Report on Form 8-K). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ADM Tronics Unlimited, Inc.
By: /s/ Andre’ DiMino
Name: Andre' DiMino
Title: President
Dated: July 14, 2015
3
Exhibit 99.1
ADM Tronics Reports Fiscal Year 2015
Company Returns to Profitability - Revenues Increase 58%
July 14, 2015 - Northvale, NJ – ADM Tronics Unlimited, Inc. (OTCQB: ADMT), a technology-based developer and manufacturer of innovative technologies and products, today announced results for its fiscal year ended March 31, 2015.
Revenues for the year ended March 31, 2015 were $2,850,548 as compared to $1,809,623 for the last fiscal year ended March 31, 2014, an increase of 58%. Net profit for the year was $358,790 or $0.01 per share as compared to a net loss of ($225,214) for the previous fiscal year. Complete financial results are available in the Company’s Annual Report on Form 10K available at www.sec.gov.
Financial Highlights
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Fiscal Year Ended March 31, 2015 |
Fiscal Year Ended March 31, 2014 |
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Net Revenues |
$ | 2,850,548 | $ | 1,809,623 | ||||
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Cost of Sales |
$ | 1,485,590 | $ | 1,053,930 | ||||
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Gross Profit |
$ | 1,364,958 | $ | 755,693 | ||||
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Operating Expenses |
$ | 1,115,009 | $ | 979,485 | ||||
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Income (loss) from operations |
$ | 249,949 | $ | (223,792 | ) | |||
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Total other income |
$ | 108,841 | $ | (1,422 | ) | |||
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Net income (loss) |
$ | 358,790 | $ | (225,214 | ) | |||
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Net income (loss) per common share |
$ | 0.01 | $ | (0.00 | ) | |||
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Weighted average shares of common stock outstanding - diluted |
65,539,537 | 65,539,537 | ||||||
Andre’ DiMino, ADMT President stated, “We are very proud of our accomplishments during fiscal 2015. Our Company has made positive strides forward over the course of the last 12 months and we are pleased with the improved financial performance and, in particular, reporting our return to profitability and positive cash flow from operations. We expect to see continued growth in our medical device engineering activities. The recent announcements about the expansion of our medical device design and engineering capabilities should enable us to expand our revenue potential.”
“Our 2015 - 2016 operating plan includes initiatives to expand market presence and penetration. To date, we have increased our engineering staff and equipment; expanded our internet presence; and enhanced our customer service. Those initiatives are showing results and we expect to see the financial contribution from those efforts continue in future quarters. Additionally, we are pursuing certain new technology opportunities that we believe can begin to further increase our revenues during the new fiscal year. This past fiscal year 2015 was a rewarding period of growth for our company as we turned profitable, and we are excited about our future prospects,” concluded DiMino.
About ADMT
ADMT is a diversified, technology-based developer and manufacturer of innovative technologies and products. Its core competency is its ability to conceptualize a technology, bring it through development, into manufacturing and commercialization, all in-house. ADMT has three areas of activity: Proprietary Electronic Medical Devices; Eco-Friendly, Safe, Water-Based Formulations; and, Design, Engineering, Regulatory and Manufacturing Services. The Company’s headquarters, laboratories, FDA-Registered medical device and manufacturing operations are located in Northvale, NJ. ADMT’s multi-disciplinary team of engineers, researchers and technologists utilize advanced technology infrastructure, such as 3-D solid prototyping, precision instrumentation and specialized software and peripherals, for the research, development and commercialization of diversified technologies. Additional information is available at the Company’s websites - admtronics.com and concepttoquantity.com.
Except for historical information contained herein, the matters set forth in this news release are “forward looking” statements (as defined in the Private Securities Litigation Reform Act of 1995), including statements regarding future revenue growth and performance. Although ADMT believes the expectations reflected in such forward looking statements are based upon reasonable assumptions, there can be no assurance that its expectations will be realized. Forward looking statements involve risks and uncertainties that could cause actual results to differ materially from expectations. Factors that could contribute to such differences include those described from time to time in ADMT’s filings with the SEC, news releases and other communications. The Company assumes no obligation to update the information contained in this news release.
Contact: Andre’ DiMino 201-767-6040, andre@admtronics.com