ADM TRONICS UNLIMITED, INC.

ADM Tronics Unlimited, Inc.

Company overview

• Delaware corporation founded November 24, 1969.
• Headquarters and primary operations: Northvale, New Jersey.
• Operates through its subsidiary ADM Tronics Unlimited, Inc. and its division Antistatic Industries.
• Sonotron Medical Systems, Inc. (SMI) was a former wholly owned subsidiary that was inactive and dissolved during the fiscal year ended March 31, 2026; the dissolution had no material impact on operations, financial position, or results.

Business lines

1. Electronics for medical devices and other applications

   • Develops and manufactures electronic technologies for non-invasive, electrotherapeutic, and diagnostic medical devices, as well as for veterinary and other applications.
   • Products are manufactured at the Northvale FDA-Registered Medical Device Manufacturing facility.
   • Produces both proprietary products and contract-manufactured devices for other companies.

2. Contract manufacturing

   • Generates revenue from manufacturing electronic medical devices and other devices for unaffiliated customers.
   • Backlog for electronic product orders was approximately $956,000 as of March 31, 2026.

3. Environmentally safe chemical products for industrial uses

   • Develops, manufactures, and sells water-based primers, adhesives, coatings, resins, additive products, and anti-static conductive paints/coatings.
   • Primers and adhesives bind various films and substrates; water-based systems are positioned as alternatives to solvent-based systems.
   • Through Antistatic Industries, offers conductive paints/coatings, hoses, garments, floor mats, tapes, fasteners, and other static-control products, including proprietary low-VOC formulations for some products.

4. Medical and cosmetic products

   • Develops proprietary water-based topical formulations for maxillofacial prosthetics and professional makeup for film, TV, and theatrical productions.

5. Research, development, regulatory and engineering services

   • Provides engineering, regulatory, and development services to unaffiliated customers for medical devices, electronics, and related technologies on a fee-for-service and project basis.

Customers

• Customer concentration: Two customers accounted for 46% and 48% of net revenue for the fiscal years ended March 31, 2026 and 2025, respectively.
• Accounts receivable concentration: Two customers accounted for 51% and 55% of accounts receivable as of March 31, 2026 and 2025, respectively.

Financial highlights

• Backlog: Approximately $956,000 for electronic product orders as of March 31, 2026.
• Accumulated deficit: $33,070,594 as of March 31, 2026.
• Management plans to use existing resources and pursue revenue growth with orders in the pipeline, aiming for profitability within the next fiscal year. There is substantial doubt about the company’s ability to continue as a going concern for one year from July 7, 2026 (the date the financial statements were available to be issued).
• Company-sponsored research and development expense: $544,971 for year ended March 31, 2026; $517,275 for year ended March 31, 2025.
• The company reports losses from operations and negative cash flows, and highlights going-concern considerations.

Operations and facilities

• Facility: Northvale, New Jersey — approximately 16,000 square feet for office, manufacturing, and warehouse use.
• Lease: Leased from an unaffiliated party; monthly rent is $8,906 with scheduled increases. Lease expiration June 2028.
• Manufacturing: Northvale facility is FDA-registered as a Medical Device Establishment and must comply with FDA quality system regulations. The facility is subject to FDA inspections and recertification.

Suppliers and manufacturing capacity

• Relies on a limited number of suppliers for raw materials and components; no long-term or exclusive purchase commitments exist with any supplier.
• Single-facility operations with limited capacity may be insufficient for unusually large orders or concurrent manufacturing for multiple customers.
• Since 2020 there have been shortages of electronic components and certain chemical raw materials, causing delays and higher input costs. The company has sought alternative suppliers and materials, with limited success in some cases.
• Loss or reduction of key customers could materially affect revenues and cash flow.

Intellectual property

• Chemical products are not protected by patents. The company relies on trademarks for some product names and on trade secrets, nondisclosure agreements, and confidentiality measures to protect other aspects of its technology.
• Licenses may be required for new products, and there is no assurance such licenses would be available on favorable terms.

Regulatory and quality matters

• As a medical device manufacturer, the company must adhere to FDA requirements, maintain facility registrations, and follow quality control procedures. FDA inspections and compliance with labeling and promotional rules are enforcement risk areas.
• References ISO 13485 certification for medical device manufacturing and familiarity with ISO 27001 for information security management.

Insurance and risk management

• General liability policy with aggregate product liability coverage of $3,000,000 for certain products. Coverage may be insufficient or could become unaffordable or unavailable.

Cybersecurity

• Maintains cybersecurity practices aligned with its regulated environment. An engineer is responsible for information security, and controls include firewalls, antivirus protection, network segmentation (administration vs. engineering), and onsite/offsite backups with disaster recovery plans.

Governance and key personnel

• The company relies on its President and CEO, Andre' DiMino, and other key personnel. Loss of key personnel could adversely affect operations.
• The CEO and related family/affiliates own approximately 38% of outstanding common stock and may influence corporate actions, governance, and strategic direction.

Recent developments

• Sonotron Medical Systems, Inc. (SMI) was dissolved during the fiscal year ended March 31, 2026; the dissolution had no material impact on operations, financial position, or results.