1. Summary of significant accounting policies

9 Months Ended

Mar. 31, 2014

Notes to Financial Statements

Summary of significant accounting policies

1. Summary of significant accounting policies:

Principles of consolidation:

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