SCI Engineered Materials (OTCQB: SCIA) details $898,325 fraud incident and ongoing investigation
Rhea-AI Filing Summary
SCI Engineered Materials, Inc. reported that it was subjected to an imposter scam of $898,325 executed in conjunction with bank fraud. After discovering the incident, management contacted its financial institution, filed an IC3 report with the U.S. Federal Bureau of Investigation, and engaged its insurance carrier to pursue recovery of the funds.
The Company states it has found no evidence of additional fraudulent activity and does not currently believe there was unauthorized access to its data or systems. An investigation into the incident and its impact on internal controls is ongoing, and the Company reports that its business and operations were not affected.
Positive
- None.
Negative
- Exposure to $898,325 fraud loss: The Company reports being subjected to an imposter scam of $898,325 tied to bank fraud, with recovery and internal control investigations still ongoing.
Insights
SCI discloses a $898,325 fraud incident, with recovery efforts and control review underway.
SCI Engineered Materials reports exposure to an imposter scam totaling
The Company notes no evidence so far of additional fraudulent activity or unauthorized access to data or systems, and states that business operations were not affected. However, it is still investigating the incident’s impact on internal controls, which implies potential remediation steps depending on findings.
Because the investigation and recovery efforts remain in progress as of
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington , D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 10, 2026, (
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ITEM 8.01 Other Events.
On February 10, 2026, SCI Engineered Materials, Inc. (“SCI” the “Company”) reported it was subjected to an imposter scam of $898,325 executed in conjunction with bank fraud. Immediately upon recognition of this event management contacted the Company’s financial institution, filed an IC3 report with the U.S. Federal Bureau of Investigation, and is working with its Insurance carrier. Comprehensive efforts are being actively pursued to recover the funds involved. To date, the Company has not found any evidence of additional fraudulent activity and currently does not believe the incident resulted in any unauthorized access to data or systems maintained by the Company. However, the Company’s investigation into the incident and its impacts on the Company, including its internal controls, remains ongoing. The business and operations were not affected.
ITEM 9.01 Exhibits.
Exhibit 99.1 – Press release, dated February 10, 2026, issued by SCI Engineered Materials, Inc.
Exhibit 104 – Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SCI ENGINEERED MATERIALS, INC.
February 10, 2026 | By: | /s/ Jeremiah R. Young |
Jeremiah R. Young | ||
President and Chief Executive Officer | ||
Exhibit 99.1
SCI Engineered Materials, Inc. Announces
Share Repurchase Program
COLUMBUS, Ohio (February 10, 2026) SCI Engineered Materials, Inc. (the “Company”) (OTCQB: SCIA), a global supplier and manufacturer of advanced materials for physical vapor deposition thin film applications, reported it was subjected to an imposter scam of $898,325 executed in conjunction with bank fraud. Immediately upon recognition of this event management contacted the Company’s financial institution, filed an IC3 report with the U.S. Federal Bureau of Investigation, and is working with its Insurance carrier. Comprehensive efforts are being actively pursued to recover the funds involved. To date, the Company has not found any evidence of additional fraudulent activity and currently does not believe the incident resulted in any unauthorized access to data or systems maintained by the Company. However, the Company’s investigation into the incident and its impacts on the Company, including its internal controls, remains ongoing. The business and operations were not affected.
About SCI Engineered Materials, Inc.
SCI Engineered Materials is a global supplier and manufacturer of advanced materials for PVD thin film applications and works closely with end users and OEMs to develop innovative, customized solutions. Additional information is available at www.sciengineeredmaterials.com or follow SCI Engineered Materials, Inc. at:
https://www.linkedin.com/company/sci-engineered-materials.-inc https://www.facebook.com/sciengineeredmaterials/
https://x.com/SciMaterials
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created
thereby. Those statements include, but are not limited to, all statements regarding intent, beliefs, expectations, projections, customer guidance, forecasts, plans of the Company and its management. These forward-looking statements involve numerous risks and uncertainties, including without limitation, other risks and uncertainties detailed from time to time in the Company's Securities and Exchange Commission filings, including the Company's Annual Report on Form 10-K for the year ended December 31, 2024. One or more of these factors has affected and could affect the Company's projections in the future. Therefore, there can be no assurances that the forward-looking statements included in this press release will prove to be accurate. Due to the significant uncertainties in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company, or any other persons, that the objectives and plans of the Company will be achieved. All forward-looking statements made in this press release are based on information presently available to the management of the Company. The Company assumes no obligation to update any forward-looking statements.
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Filing Exhibits & Attachments
4 documentsPress Releases
