UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
SCIENTIFIC INDUSTRIES, INC.
(Name of Issuer)
Common Stock, $0.05 par value
(Title of Class of Securities)
808757108
______________
(CUSIP Number)
Joseph G. Cremonese
c/o Scientific Industries, Inc.
70 Orville Drive
Bohemia, New York 11716
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
With a copy to:
Leo Silverstein, Esq., Reitler Kailas & Rosenblatt LLC,
885 Third Avenue, 20th Floor, New York, NY 10022 (212-209-3050)
January 7, 2011
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G
to report the acquisition that is the subject of this Schedule 13D, and
is filing this schedule because of Section 240.13d-1(e), 240.13d-1(f) or
240.13d-1(g), check the following box. [ ]
Note: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Section
240.13d-7 for other parties to whom copies are to be sent.
* 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).
CUSIP N0.: 808757108
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1) NAME OF REPORTING PERSON
JOSEPH G. CREMONESE
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only)
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2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
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3) SEC Use Only
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4) SOURCE OF FUNDS PF
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5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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6) CITIZENSHIP OR PLACE OF ORGANIZATION U.S.A.
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NUMBER OF 7) SOLE VOTING POWER 30,000
SHARES -----------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER 36,597
OWNED BY ------------------------------------------
EACH 9) SOLE DISPOSITIVE POWER 30,000
REPORTING ------------------------------------------
PERSON WITH 10) SHARED DISPOSITIVE POWER 36,597
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11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
66,597
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12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.6%
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14) TYPE OF REPORTING PERSON IN
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ITEM 1. SECURITY AND ISSUER
This Statement relates to the common stock, $.05 par value (the
"Common Stock") of Scientific Industries, Inc., a Delaware corporation
(the "Company"). The address of the principal executive offices of the
Company is 70 Orville Drive, Bohemia, New York 11716.
ITEM 2. IDENTITY AND BACKGROUND
(a) This statement is being filed by Mr. Joseph G. Cremonese
("Cremonese").
(b) The business office of the Reporting Persons is c/o Scientific
Industries, Inc., 70 Orville Drive, Bohemia, New York 11716.
(c) The principal occupation of Mr. Cremonese, the Chairman of the
board of directors of the Company, is President of Laboratory Innovation
Company, Ltd. which is a consultant to the Company.
(d) During the last five (5) years, the Reporting Person has not been
convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors).
(e) During the last five (5) years, the Reporting Person has not been
a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction and as a result of such proceeding, was or is
subject to a judgment, decree or final order enjoining future violations
of, or prohibiting or mandating activities subject to, federal or state
securities laws or finding any violation with respect to such laws.
(f) Mr. Cremonese is a citizen of the United States of America.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
On January 7, 2011, Mr. Cremonese was granted a five year stock option
by the Company under its 2002 Stock Option Plan to purchase 10.000 shares
at a price of $3.24 per share, market price on the date of grant as
additional consideration for his consulting services to the Company.
ITEM 4. PURPOSE OF TRANSACTION
The disclosure set forth in Item 3 is hereby incorporated by reference.
Except as set forth herein, the Reporting Person does not have any present
plan or proposal which relates to, or would result in any action with
respect to, the matters listed in paragraphs (a) through (j) of Item 4
of Schedule 13D.
The Reporting Person reserves the right from time to time to acquire or
dispose of shares of the Common Stock, or to formulate other purposes,
plans or proposals regarding the Company or securities of the Company
held by such Reporting Person to the extent deemed advisable in light
of general investment policies, market conditions and other factors.
ITEM 5. INTEREST IN SECURITIES OF THE COMPANY.
(a) As of the date hereof, (i) Mr. Cremonese beneficially owns 66,597
shares of Common Stock (which represents 5.6% of the outstanding shares
of Common Stock), inclusive of the 36,597 shares of Common Stock owned
jointly with his wife and 30,000 shares issuable upon exercise of options.
The aforesaid percentages are calculated based upon 1,196,577 outstanding
shares of Common Stock of the Company as of November 30, 2010 as reported
in the Company's Proxy Statement, dated November 30, 2010, and filed on
December 12, 2010.
(b) Mr. Cremonese has the shared power to vote and dispose of 36,597
and sole power with respect to 30,000 shares of Common Stock of the Company
issuable upon exercise of options.
(c) The Reporting Persons have not effected any transactions in any
shares of Common Stock of the Company during the past 60 days except the
receipt of the grant of the options referred to under Item 3.
(d) No person has the right to receive or the power to direct the
receipt of dividends from, or the proceeds from the sale of, the shares
of Common Stock beneficially owned by the Reporting Persons.
(e) Not applicable
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE COMPANY.
To the best knowledge of the Reporting Persons, there is no contract,
arrangement, understanding or relationship (legal or otherwise) between
the Reporting Persons and any other person with respect to any securities
of the Company, finder's fees, joint ventures, loan or option arrangements,
puts or calls, guarantees of profits, divisions of profits or loss, or
the giving or withholding of proxies, or a pledge or contingency, the
occurrence of which would give another person voting power over the
securities of the Company.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
a) Stock Option Certificate
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, we certify that the information set forth in this statement is
true, complete and correct.
Dated: January 25, 2011
/s/ Joseph G. Cremonese
_________________________
Joseph G. Cremonese