SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On May 20, 2025, the employment agreement between Scientific Industries, Inc. (the “Company”) and Ms. Helena Santos, the Company’s President, Chief Executive Officer and interim Chief Financial Officer (“CFO”), was amended to extend the employment for an additional one (1) year period commencing July 1, 2025 and ending June 30, 2026 (the “Amendment Period”). All other terms of the existing employment agreement remain the same, other than the base salary which shall be $200,000 during the Amendment Period.
On May 20, 2025, the employment agreement between the Company’s wholly owned subsidiary, Scientific Bioprocessing, Inc. (“SBI”) and Mr. John A. Moore, the Company’s Chairman of the Board, was amended to extend the employment for an additional one (1) year period commencing July 1, 2025 and ending June 30, 2026. All other terms of the existing employment agreement remain the same, other than the base salary which shall be $165,000 during the Amendment Period.
A copy of the employment agreement amendments are attached hereto as exhibits. This summary description does not purport to be complete and is qualified in its entirety by reference to the form of the employment agreement amendments which are incorporated herein by reference.
ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
On May 20, 2025, the Company announced the appointment of Ms. Helena Santos as its interim CFO until a suitable candidate can be appointed by the Company’s Board of Directors. Nicholas Lavacca, who had served as the Company’s CFO since April 18, 2025, left the Company on May 19, 2025 to pursue other opportunities.
Ms Santos, age 60, who is also a Director since 2009, has been employed by the Company since 1994, and has served since August 2002 as its President, Chief Executive Officer, Treasurer and, until April 2022, its Chief Financial Officer.
ITEM 9.01 Financial Statements and Exhibits
(a), (b), (c) not applicable
(d) Exhibits None
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SIGNATURE
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.
| SCIENTIFIC INDUSTRIES, INC. | ||
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Date: May 21, 2025 | By: | /s/ Helena R. Santos |
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| Helena R. Santos, |
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| President and Chief Executive Officer and Chief Financial Officer |
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