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)
Lyon
Polk
1585
Broadway, 22nd Floor
New York, NY
10036
(Name, Address and Telephone Number of Person
Authorized
to Receive Notices and Communications)
June
18, 2020
(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.
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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 PERSONSI.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Lyon
Polk
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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
New
York
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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
222,000
shares of Common Stock and 222,000 shares of Common Stock issuable
upon exercise of Warrants
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6.
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SHARED
VOTING POWER
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7.
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SOLE
DISPOSITIVE POWER
222,000
shares of Common Stock and 222,000 shares of Common Stock issuable
upon exercise of Warrants
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8.
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SHARED
DISPOSITIVE POWER
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9.
AGGREGATE AMOUNT
BENEFICIALLY OWNED BY EACH REPORTING PERSON
222,000 shares of
Common Stock and 222,000 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)
14.41%
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 P
ages
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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
Lyon
Polk
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(b)
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Address
of the Principal Business Office or, if None,
Residence
1585
Broadway, 22nd Floor
New
York, NY 10036
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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: 222,000 shares of Common Stock and 222,000
shares of Common Stock issuable upon exercise of
Warrants
(b)
Percent
of class: 14.41%
(c)
Number
of shares as to which the person has:
(i)
Sole
power to vote or to direct the vote of: 222,000 shares of Common
Stock and 222,000 shares of Common Stock issuable upon exercise of
Warrants
(ii)
Shared
power to vote or to direct the vote of:
(iii)
Sole
power to dispose or to direct the disposition of: 222,000 shares of
Common Stock and 222,000 shares of Common Stock issuable upon
exercise of Warrants
(iv)
Shared
power to dispose or to direct the disposition of:
The
percentage set forth in the preceding paragraph and in Row 11 of
the cover page for each reporting person is based on 1,509,413
shares of Common Stock outstanding as of June 17, 2020, plus an
additional 1,349,850 shares of Common Stock issued in the
Issuer’s recently completed private placement and assumes the
exercise of the 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.
Not
Applicable
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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June
26, 2020
Date
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By: /s/
Lyon Polk
Signature
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