1. Summary of significant accounting policies

3 Months Ended

Sep. 30, 2014

Notes to Financial Statements

Summary of significant accounting policies

Principles of consolidation:

The accompanying consolidated financial statements include the

accounts of Scientific Industries, Inc. (“Scientific”, a Delaware

corporation), Altamira Instruments, Inc.(“Altamira”, a wholly owned

subsidiary and Delaware corporation), Scientific Packaging

Industries, Inc. (an inactive wholly owned subsidiary and New York

corporation) and Scientific Bioprocessing, Inc., (“SBI”, a wholly

owned subsidiary and Delaware corporation). All are collectively

referred to as the “Company”. All material intercompany balances and

transactions have been eliminated.