--- title: "Scientific Industries signs CFO agreement and extends two others" url: "https://aibio.space/news/scientific-industries-signs-cfo-agreement-extends-two-others/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-10-01" section: "Company Updates" tickers: "OTC:SCND" source: "https://www.sec.gov/Archives/edgar/data/87802/000165495426008763/scnd_8k.htm" summary: "Zachary Rovinsky signed an employment agreement as chief financial officer, and the agreements of Helena Santos and John A. Moore were extended through Sep" --- By the aibio.space news desk. Sources - [SCIENTIFIC INDUSTRIES INC 8-K (2026-10-02)](https://www.sec.gov/Archives/edgar/data/87802/000165495426008763/scnd_8k.htm) - [SCIENTIFIC INDUSTRIES INC financial data (SEC XBRL)](https://www.sec.gov/Archives/edgar/data/87802/000165495426003102/) [SCND](https://aibio.space/companies/scientific-industries/) 2026-10-01 # Scientific Industries signs CFO agreement and extends two others Tickers [SCND](https://aibio.space/companies/scientific-industries/) Zachary Rovinsky signed an employment agreement as chief financial officer, and the agreements of Helena Santos and John A. Moore were extended through September 30, 2027. ## Key facts - **Company**: SCIENTIFIC INDUSTRIES INC (OTC: SCND) - **News type**: Company Updates - **Primary source**: [SCIENTIFIC INDUSTRIES INC 8-K (2026-10-02)](https://www.sec.gov/Archives/edgar/data/87802/000165495426008763/scnd_8k.htm) *Chemistry glassware in a black and white photograph. CC0, via rawpixel. The picture shows the field, not the companies named.* Scientific Industries, Inc. reported in a Form 8-K filed October 2, 2026 that on October 1, 2026 it entered into a new employment agreement with Zachary Rovinsky, its chief financial officer, and extended two existing executive agreements. The company's common stock, par value $0.05 per share, trades under the symbol SCND on the OTC market. Its principal executive offices are at 80 Orville Drive in Bohemia, New York. The filing is reported under Item 1.01, Entry into a Material Definitive Agreement. ## The chief financial officer's agreement Mr. Rovinsky's employment agreement runs through September 30, 2028. The term may be extended for two additional one-year periods by mutual consent. His annual salary is $210,000, and he may earn a bonus of up to 10% of his salary. The annual salary is subject to annual increases of 3.0%. ## The president's extension The employment agreement between the company and Helena Santos, its president, chief executive officer and treasurer, was extended through September 30, 2027. The extension period is called the Amendment Period. Ms. Santos's agreement dates from July 1, 2017 and had been amended before. All other terms remain the same, except that her base salary will be $200,000 during the Amendment Period. Part of that salary may be paid in equity if the parties agree. ## The chairman's extension The employment agreement between Scientific Bioprocessing, Inc., the company's wholly owned subsidiary known as SBI, and John A. Moore, the company's chairman of the board, was also extended through September 30, 2027. The agreement is dated July 1, 2020 and had been amended before. All other terms remain the same during the extension period, except that his salary will be $165,000. As with Ms. Santos's agreement, part of that salary may be paid in equity by mutual agreement. The filing lists three exhibits: the Rovinsky employment agreement dated October 1, 2026 as Exhibit 10.1, Amendment No. 3 to the Santos agreement as Exhibit 10.2, and Amendment No. 2 to the Moore agreement as Exhibit 10.3. ## Financial figures SEC XBRL data reports revenue of $5.1 million for the fiscal year ended December 31, 2025, compared with $4.8 million for 2024. Research and development expense was $2.5 million in 2025 and $2.9 million in 2024. The company reported a net loss of $1.2 million for 2025, compared with a net loss of $6.4 million for 2024. Cash from operations was negative $3.7 million in 2024, according to the annual report filed March 31, 2025. The same data reports year-end 2025 cash and cash equivalents of $955,000 and short-term investments of $5.7 million, as shown in a quarterly report filed August 14, 2026. That quarterly report also shows cash and cash equivalents of $616,500 at June 30, 2026, and short-term investments of $3.9 million at that date. ## What the contracts commit the company to The pay is locked in while the numbers are weak. The company lost $1.2 million on $5.1 million of revenue in 2025, and its cash and cash equivalents fell from $955,000 at year-end to $616,500 at June 30, 2026, with short-term investments down from $5.7 million to $3.9 million over the same period. Salary for Ms. Santos and Mr. Moore may be paid partly in equity, which would add shares if the parties agree, and the filing sets no cap on the amount. Mr. Rovinsky's 3.0% annual raises apply through 2028. The filing does not describe the new chief financial officer's duties or say why a new agreement was needed. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story SCND SCIENTIFIC INDUSTRIES INC OTC ยท United States Open the starter desk ## More in Company Updates Company Updates ### [PTC reports third-quarter 2026 revenue of $358 million and raises product guidance](https://aibio.space/news/ptc-reports-third-quarter-2026-revenue-358-million-raises-product/) Oct 29, 2026 Company Updates ### [Processa clears VT-7208 CSU IND and names a new executive chair](https://aibio.space/news/processa-clears-vt-7208-csu-ind-names-new-executive-chair/) Oct 29, 2026 Company Updates ### [Kiora in-licenses late-stage KIO-401 for retinal artery occlusion](https://aibio.space/news/kiora-licenses-late-stage-kio-401-retinal-artery-occlusion/) Oct 29, 2026 --- Source page: https://aibio.space/news/scientific-industries-signs-cfo-agreement-extends-two-others/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Scientific Industries signs CFO agreement and extends two others", 2026-10-01, https://aibio.space/news/scientific-industries-signs-cfo-agreement-extends-two-others/