Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
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- Peter Lynch
What is insider trading>>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. ________)*
Scientific
Industries, Inc.
(Name
of Issuer)
Common
Stock, par value $0.05 per share
(Title
of Class of Securities)
808757108
(CUSIP
Number)
Thomas
A. Satterfield, Jr.
15
Colley Cove Drive
Gulf
Breeze, Florida 32561
(Name,
Address and Telephone Number of Person
Authorized
to Receive Notices and Communications)
March
2, 2022
(Date
of Event which Requires Filing of this Statement)
Check
the appropriate box to designate the rule pursuant to which this
Schedule is filed:
☐ Rule 13d-1(b)
☒ Rule 13d-1(c)
☐ Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to the
subject class of securities, and for any subsequent amendment
containing information which would alter disclosures provided in a
prior cover page.
The
information required on the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the
Securities Exchange Act of 1934 ("Act") or otherwise subject to the
liabilities of that section of the Act but shall be subject to all
other provisions of the Act (however, see the Notes).
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CUSIP
No. 808757108
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13G
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Page 2
of 6 Pages
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1.
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NAMES
OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Thomas
A. Satterfield, Jr.
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2.
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CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see
instructions)
(a)
☐
(b)
☐
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3.
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SEC USE
ONLY
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4.
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CITIZENSHIP
OR PLACE OF ORGANIZATION
United
States of America
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
WITH
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5.
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SOLE
VOTING POWER
78,947
shares of Common Stock and 39,473 shares of Common Stock issuable
upon exercise of Warrants
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6.
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SHARED
VOTING POWER
305,024
shares of Common Stock and 152,511 shares of Common Stock issuable
upon exercise of Warrants
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7.
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SOLE
DISPOSITIVE POWER
78,947
shares of Common Stock and 39,473 shares of Common Stock issuable
upon exercise of Warrants
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8.
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SHARED
DISPOSITIVE POWER
305,024
shares of Common Stock and 152,511 shares of Common Stock issuable
upon exercise of Warrants
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9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
383,971
shares of Common Stock and 191,984 shares of Common Stock issuable
upon exercise of Warrants
10.
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES
(see
instructions) ☐
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.0%
12 TYPE
OF REPORTING PERSON (see instructions)
IN
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CUSIP
No. 808757108
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13G
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Page 3
of 6 Pages
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Item 1.
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(a)
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Name of
Issuer
Scientific
Industries, Inc.
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(b)
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Address
of Issuer’s Principal Executive Offices
80
Orville Drive, Suite 102
Bohemia,
NY 11716
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Item 2.
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(a)
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Name of
Person Filing
Thomas
A. Satterfield, Jr.
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(b)
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Address
of the Principal Business Office or, if None,
Residence
15
Colley Cove Drive
Gulf
Breeze, Florida 32561
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(c)
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Citizenship
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United
States of America
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(d)
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Title
of Class of Securities
Common
Stock, par value $0.05 per share
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(e)
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CUSIP
Number
808757108
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Item 3. If this statement is filed pursuant to
§§240.13d-1(b) or 240.13d-2(b) or (c), check whether the
person filing is a:
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(a)
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☐
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Broker
or dealer registered under section 15 of the Act (15 U.S.C.
78o).
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(b)
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☐
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Bank as
defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
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(c)
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☐
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Insurance
company as defined in section 3(a)(19) of the Act (15 U.S.C.
78c).
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(d)
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☐
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Investment
company registered under section 8 of the Investment Company Act of
1940 (15 U.S.C. 80a-8).
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(e)
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☐
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An
investment adviser in accordance with
§240.13d-1(b)(1)(ii)(E);
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CUSIP
No. 808757108
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13G
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Page 4
of 6 Pages
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(f)☐An
employee benefit plan or endowment fund in accordance with
§240.13d-1(b)(1)(ii)(F);
(g)☐A
parent holding company or control person in accordance with
§240.13d-1(b)(1)(ii)(G);
(h)☐A
savings associations as defined in Section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813);
(i)☐A
church plan that is excluded from the definition of an investment
company under section 3(c)(14) of the Investment Company Act of
1940 (15 U.S.C. 80a-3);
(j)☐A
non-U.S. institution in accordance with
§240.13d-1(b)(1)(ii)(J);
(k)☐Group,
in accordance with §240.13d-1(b)(1)(ii)(K).
If
filing as a non-U.S. institution in accordance with
§240.13d-1(b)(1)(ii)(J), please specify the type of
institution:____________________
Item 4. Ownership.
Provide
the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in
Item 1.
(a)Amount
beneficially owned: 383,971 shares of Common Stock and 191,984
shares of Common Stock issuable upon exercise of
Warrants
(b)Percent
of class: 8.0%
(c)Number
of shares as to which the person has:
(i)Sole
power to vote or to direct the vote of: 78,947 shares of Common
Stock and 39,473 shares of Common Stock issuable upon exercise of
Warrants
; (ii)Shared power to vote or to direct the vote
of: 305,024 shares
of Common Stock and 152,511 shares of Common Stock issuable upon
exercise of Warrants
(iii)Sole power to
dispose or to direct the disposition of: 305,024 shares of Common
Stock and 152,511 shares of Common Stock issuable upon exercise of
Warrants
(iv)Shared power to
dispose or to direct the disposition of: 305,024
shares
of Common Stock and 152,511 shares of Common Stock issuable upon
exercise of Warrants
Based
on 6,458,143 shares of Common Stock of the issuer outstanding as of
December 31, 2021, as reported by the issuer on its Quarterly
Report on Form 10-Q, plus an additional 545,456 shares of Common
Stock issued in the Issuer’s recently completed private
placement and assumes the exercise of the 191,984 Warrants
beneficially owned by the Reporting Person.
Instruction. For computations regarding securities which
represent a right to acquire an underlying security see §240.13d-3(d)(1).
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CUSIP
No. 808757108
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13G
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Page 5
of 6 Pages
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Item 5. Ownership of Five Percent or Less of a Class.
If this
statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner
of more than five percent of the class of securities, check the
following ☐.
Instruction. Dissolution of a group requires a response to
this item.
Item 6. Ownership of More than Five Percent on Behalf of Another
Person.
With respect to the
beneficial ownership report for Thomas A. Satterfield, Jr., 101,675
shares of Common Stock and 50,837 shares of Common Stock issuable
upon exercise of Warrants are held by TomSat Investment &
Trading Co., Inc, a corporation wholly owned by Mr. Satterfield and
of which he serves as President; 203,349 shares of Common Stock and
101,674 shares of Common Stock issuable upon exercise of Warrants
are held by A.G. Family L.P., a partnership managed by a general
partner controlled by Mr. Satterfield.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding
Company.
Not
Applicable
Item 8. Identification and Classification of Members of the
Group.
Not
Applicable
Item 9. Notice of Dissolution of Group.
Not
Applicable
Item 10. Certification.
By
signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were
not acquired and are not held in connection with or as a
participant in any transaction having that purpose or
effect.
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CUSIP
No. 808757108
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13G
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Page 6
of 6 Pages
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After
reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true,
complete and correct.
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March
23, 2022
Date
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By: /s/
Thomas A. Satterfield, Jr.
Signature
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