<PAGE>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

(Mark One)
[X]   QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
      EXCHANGE ACT OF 1934
      For the quarterly period ended June 30, 2005

[ ]   TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
      ACT OF 1934
For the transition period from_________________ to ______________

                         Commission file number: 0-31641

                        SUPERCONDUCTIVE COMPONENTS, INC.
             (Exact name of registrant as specified in its charter)

              OHIO                                        31-1210318
(State or other jurisdiction of                        (I.R.S. Employer
 incorporation or organization)                       Identification No.)

                    2839 CHARTER STREET, COLUMBUS, OHIO 43228
          (Address of principal executive offices, including zip code)

                                 (614) 486-0261
              (Registrant's telephone number, including area code)

                                 NOT APPLICABLE

(Former name, former address and former fiscal year, if changed since last
report)

      Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to the
filing requirements for at least the past 90 days. YES [X] NO [ ]

      State the number of shares outstanding of each of the registrant's classes
of common equity, as of the latest practicable date: 2,439,360 shares of Common
Stock, without par value, were outstanding at July 28, 2005.

<PAGE>

                                   FORM 10-QSB

                        SUPERCONDUCTIVE COMPONENTS, INC.

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                        PAGE NO.
                                                                                        --------
<S>                                                                                     <C>
PART I.  FINANCIAL INFORMATION

         Item 1.  Financial Statements.

                      Balance Sheets as of June 30, 2005 (unaudited)
                           and December 31, 2004                                          3 - 4

                      Statements of Operations For the Three Months and Six Months
                           Ended June 30, 2005 and 2004  (unaudited)                          5

                      Statements of Cash Flows For the Three Months and Six Months
                           Ended June 30, 2005 and 2004 (unaudited)                       6 - 7

                      Notes to Financial Statements (unaudited)                          8 - 12

         Item 2.  Management's Discussion and Analysis of Financial
                      Condition and Results of Operations.                              13 - 18

         Item 3.  Controls and Procedures                                                    19

PART II. OTHER INFORMATION

         Item 1.  Legal Proceedings.                                                        N/A

         Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds.               20

         Item 3.  Defaults Upon Senior Securities.                                          N/A

         Item 4.  Submission of Matters to a Vote of Security Holders.                       20

         Item 5.  Other Information.                                                        N/A

         Item 6.  Exhibits.                                                                  20

         Signatures.                                                                         21
</TABLE>

                                        2
<PAGE>

                          PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

                        SUPERCONDUCTIVE COMPONENTS, INC.

                                 BALANCE SHEETS

                                     ASSETS

<TABLE>
<CAPTION>
                                                                   JUNE 30,    DECEMBER 31,
                                                                    2005           2004
                                                                 -----------   ------------
                                                                 (UNAUDITED)
<S>                                                              <C>           <C>
CURRENT ASSETS
  Cash                                                           $   172,860        47,095
  Cash, restricted for equipment                                           -       142,968
  Accounts and notes receivable
    Trade, less allowance for doubtful accounts of $22,663 and
       $33,176 respectively                                          234,549       167,394
    Employees                                                            507           100
 Inventories                                                         589,890       535,171
 Prepaid expenses                                                     30,291        12,626
                                                                 -----------    ----------
       Total current assets                                        1,028,097       905,354
                                                                 -----------    ----------
PROPERTY AND EQUIPMENT,
 AT COST
  Machinery and equipment                                          2,174,324     2,143,791
  Furniture and fixtures                                              23,643        22,586
  Leasehold improvements                                             280,791       280,791
  Construction in progress                                            44,314        52,048
                                                                 -----------    ----------
                                                                   2,523,072     2,499,216
  Less accumulated depreciation                                   (1,744,353)   (1,641,356)
                                                                 -----------    ----------
                                                                     778,719       857,860
                                                                 -----------    ----------

OTHER ASSETS
  Deposit                                                              8,755         8,755
  Intangibles                                                         35,526        37,070
                                                                 -----------    ----------
       Total other assets                                             44,281        45,825
                                                                 -----------    ----------

TOTAL ASSETS                                                     $ 1,851,097     1,809,039
                                                                 ===========    ==========
</TABLE>

   The accompanying notes are an integral part of these financial statements.

                                       3
<PAGE>

                        SUPERCONDUCTIVE COMPONENTS, INC.

                                 BALANCE SHEETS

                      LIABILITIES AND SHAREHOLDERS' EQUITY

<TABLE>
<CAPTION>
                                                                                JUNE 30,     DECEMBER 31,
                                                                                  2005           2004
                                                                               -----------   ------------
                                                                               (UNAUDITED)
<S>                                                                            <C>           <C>
CURRENT LIABILITIES
  Capital lease obligation, current portion                                    $    32,266   $     33,522
  Capital lease obligation, shareholder, current portion                            68,428         68,428
  Note payable shareholders, current portion                                       551,979        252,886
  Accounts payable                                                                 371,906        230,097
  Accounts payable, shareholders                                                     7,920          7,920
  Accrued contract expenses                                                        203,678        318,939
  Accrued personal property taxes                                                   53,338         47,671
  Accrued interest, shareholders                                                    50,913         31,891
  Deferred contract revenue                                                         53,773         83,739
  Accrued expenses                                                                  94,069        113,043
                                                                               -----------   ------------
        Total current liabilities                                                1,488,270      1,188,136
                                                                               -----------   ------------

CAPITAL LEASE OBLIGATION, NET OF CURRENT PORTION                                    23,653         38,935
                                                                               -----------   ------------

COMMITMENTS AND CONTINGENCIES                                                            -              -
                                                                               -----------   ------------

SHAREHOLDERS' EQUITY
  Convertible preferred stock, Series B, 10% cumulative, nonvoting, no par
     value, $10 stated value, optional redemption at 103%; 25,185 issued
      and outstanding                                                              322,368        309,776
  Common stock, no par value, authorized 15,000,000 shares; 2,439,360 shares
     issued and outstanding                                                      7,541,653      7,541,653
  Additional paid-in capital                                                       565,971        558,674
  Accumulated deficit                                                           (8,090,818)    (7,828,135)
                                                                               -----------   ------------
                                                                                   339,174        581,968
                                                                               -----------   ------------

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY                                     $ 1,851,097   $  1,809,039
                                                                               ===========   ============
</TABLE>

   The accompanying notes are an integral part of these financial statements.

                                       4
<PAGE>

                        SUPERCONDUCTIVE COMPONENTS, INC.

                            STATEMENTS OF OPERATIONS

                  THREE MONTHS ENDED JUNE 30, 2005 AND 2004 AND
                     SIX MONTHS ENDED JUNE 30, 2005 AND 2004
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                  THREE MONTHS ENDED          SIX MONTHS ENDED
                                                 2005          2004         2005          2004
                                              ------------   ---------    -----------   ------------
<S>                                           <C>            <C>          <C>           <C>
SALES REVENUE                                 $    624,002   $  591,788   $ 1,110,628   $  1,056,644
CONTRACT RESEARCH REVENUE                           89,533       69,374       177,966        114,295
                                              ------------   ----------   -----------   ------------
                                                   713,535      661,162     1,288,594      1,170,939
                                              ------------   ----------   -----------   ------------

COST OF SALES REVENUE                              469,946      452,325       850,416        863,031
COST OF CONTRACT RESEARCH                           90,209       78,210       177,966        123,131
                                              ------------   ----------   -----------   ------------
                                                   560,155      530,535     1,028,382        986,162
                                              ------------   ----------   -----------   ------------

GROSS MARGIN                                       153,380      130,627       260,212        184,777

GENERAL AND ADMINISTRATIVE EXPENSES                194,139      231,744       372,204        493,000

SALES AND PROMOTIONAL EXPENSES                      58,412       67,933       110,934        133,170
                                              ------------   ----------   -----------   ------------

LOSS FROM OPERATIONS                               (99,171)    (169,050)     (222,926)      (441,393)
                                              ------------   ----------   -----------   ------------

OTHER INCOME (EXPENSE)
  Interest income                                      326          533           670            750
  Interest expense                                 (24,687)      (6,916)      (40,209)       (17,646)
  Debt Conversion Expense                                -     (175,362)            -       (175,362)
  Gain (loss) on disposal of equipment                   -          300           250         (2,181)
  Miscellaneous, net                                  (234)        (458)         (468)          (915)
                                              ------------   ----------   -----------   ------------
                                                   (24,595)    (181,903)      (39,757)      (195,354)
                                              ------------   ----------   -----------   ------------

LOSS BEFORE PROVISION FOR INCOME TAX              (123,766)    (350,953)     (262,683)      (636,747)

INCOME TAX EXPENSE                                       -            -             -              -
                                              ------------   ----------   -----------   ------------

NET LOSS                                          (123,766)    (350,953)     (262,683)      (636,747)

DIVIDENDS ON PREFERRED STOCK                        (6,296)      (6,296)      (12,592)       (12,592)
                                              ------------   ----------   -----------   ------------

LOSS APPLICABLE TO COMMON SHARES              $   (130,062)  $ (357,249)  $  (275,275)  $   (649,339)
                                              ============   ==========   ===========   ============

EARNINGS PER SHARE - BASIC AND DILUTED
(Note 2)

NET LOSS PER COMMON SHARE BEFORE
 DIVIDENDS ON PREFERRED STOCK
  Basic                                       $      (0.05)  $    (0.16)  $     (0.11)  $      (0.32)
                                              ============   ==========   ===========   ============
  Diluted                                     $      (0.05)  $    (0.16)  $     (0.11)  $      (0.32)
                                              ============   ==========   ===========   ============

NET LOSS PER COMMON SHARE AFTER
 DIVIDENDS ON PREFERRED STOCK
  Basic                                       $      (0.05)  $    (0.17)  $     (0.11)  $      (0.33)
                                              ============   ==========   ===========   ============
  Diluted                                     $      (0.05)  $    (0.17)  $     (0.11)  $      (0.33)
                                              ============   ==========   ===========   ============

WEIGHTED AVERAGE SHARES OUTSTANDING
  Basic                                          2,439,360    2,149,865     2,439,360      1,987,394
                                              ============   ==========   ===========   ============
  Diluted                                        2,439,360    2,149,865     2,439,360      1,987,394
                                              ============   ==========   ===========   ============
</TABLE>

   The accompanying notes are an integral part of these financial statements.

                                        5
<PAGE>

                        SUPERCONDUCTIVE COMPONENTS, INC.

                            STATEMENTS OF CASH FLOWS

                     SIX MONTHS ENDED JUNE 30, 2005 AND 2004

                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                            2005           2004
                                                          ----------     ----------
<S>                                                       <C>            <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Net loss                                                $ (262,683)    $ (636,747)
                                                          ----------     ----------
  Adjustments to reconcile net loss to net cash used
   in operating activities:
    Depreciation and accretion                               106,153        102,969
    Amortization                                               1,544          1,544
    Warrants issued for consulting                                 -         35,586
    Debt conversion expense                                        -        175,362
    (Gain) loss on disposal of equipment                        (250)         2,181
    Inventory reserve                                         (9,968)        (2,760)
    Provision for doubtful accounts                           10,513         18,000
    Changes in operating assets and liabilities:
      (Increase) decrease in assets:
        Accounts receivable                                  (78,075)      (173,277)
        Inventories                                       `  (44,751)       (36,237)
        Prepaid expenses                                     (17,665)         9,861
        Other assets                                               -           (261)
      Increase (decrease) in liabilities:
        Accounts payable                                     141,809        120,700
        Accrued expenses and deferred revenue               (122,186)       342,376
                                                          ----------     ----------
          Total adjustments                                  (12,876)       596,044
                                                          ----------     ----------
              Net cash used by operating activities         (275,559)       (40,703)
                                                          ----------     ----------

CASH FLOWS FROM INVESTING ACTIVITIES
  Proceeds on sale of equipment                                  250          1,602
  Purchases of property and equipment                        (25,356)      (342,871)
                                                          ----------     ----------
              Net cash used in investing activities          (25,106)      (341,269)
                                                          ----------     ----------

CASH FLOWS FROM FINANCING ACTIVITIES
  Proceeds from note payable, shareholders                   300,000        150,000
  Principal payments on notes payable, shareholders                -       (150,000)
  Proceeds from exercise of common stock options                   -          3,500
  Proceeds from sale of common stock                               -        658,782
  Principal payments on capital lease obligations            (16,538)       (18,726)
                                                          ----------     ----------
              Net cash provided by financing activities      283,462        643,556
                                                          ----------     ----------
</TABLE>

   The accompanying notes are an integral part of these financial statements.

                                       6
<PAGE>

                        SUPERCONDUCTIVE COMPONENTS, INC.

                      STATEMENTS OF CASH FLOWS (CONTINUED)

                     SIX MONTHS ENDED JUNE 30, 2005 AND 2004

<TABLE>
<CAPTION>
                                                            2005       2004
                                                          --------   ---------
<S>                                                       <C>        <C>
NET INCREASE (DECREASE) IN CASH                           $(17,203)  $ 261,584

CASH - Beginning of period                                 190,063     266,940
                                                          --------   ---------

CASH - End of period                                      $172,860   $ 528,524
                                                          ========   =========

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
  Cash paid during the years for:
    Interest, net                                         $  2,204   $   2,854
    Income taxes                                          $      -   $       -

SUPPLEMENTAL DISCLOSURES OF NONCASH FINANCING ACTIVITIES

  Property and equipment was purchased by capital lease   $      -   $  15,644

  Note payable converted to equity                        $      -   $ 729,700

  Accrued interest converted to equity                    $      -   $  25,491
</TABLE>

   The accompanying notes are an integral part of these financial statements.

                                       7
<PAGE>

                        SUPERCONDUCTIVE COMPONENTS, INC.

                          NOTES TO FINANCIAL STATEMENTS

NOTE 1. BUSINESS ORGANIZATION AND PURPOSE

      Superconductive Components, Inc. (the "Company") is an Ohio corporation
      that was incorporated in May 1987. The Company was formed to develop,
      manufacture and sell materials using superconductive principles.
      Operations have since been expanded to include the manufacture and sale of
      non-superconductive materials. The Company's domestic and international
      customer base is primarily in the thin film battery, high temperature
      superconductor, photonics and optical coatings industries.

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

      The accompanying unaudited financial statements have been prepared in
      accordance with accounting principles generally accepted in the United
      States of America for interim financial information and with instructions
      to Form 10-QSB and Article 10 of Regulation S-X. Accordingly, they do not
      include all of the information and footnotes required by accounting
      principles generally accepted in the United States of America for complete
      financial statements. In the opinion of management, all adjustments
      considered necessary for fair presentation of the results of operations
      for the periods presented have been included. The financial statements
      should be read in conjunction with the audited financial statements and
      the notes thereto for the fiscal year ended December 31, 2004. Interim
      results are not necessarily indicative of results for the full year.

      The preparation of financial statements in conformity with accounting
      principles generally accepted in the United States of America requires
      management to make estimates and assumptions that affect the reported
      amounts of assets and liabilities at the date of the financial statements
      and the reported amounts of revenues and expenses during the reporting
      period. Actual results could differ from those estimates.

      EQUIPMENT PURCHASED WITH GRANT/CONTRACT FUNDING

      The Company received a grant of $517,935 in 2004 from the Ohio Department
      of Development's Third Frontier Action Fund (TFAF) for the purchase of
      equipment related to the grant's purpose. Additionally, the Company
      received $27,500 as part of its contract with the Department of Energy for
      the purchase of equipment related to the contract's purpose. The Company
      has elected to record the funds disbursed as a contra asset; therefore,
      the assets are not reflected in the Company's financial statements. As
      assets are purchased, the liability initially created when the cash was
      received is reduced with no revenue being recognized or fixed asset
      recorded on the balance sheet. At June 30, 2005, the Company has disbursed
      $517,935. The grant and contract both provide that as long as the Company
      performs in compliance with the grant/contract, the Company retains the
      rights to the equipment. Management states that the Company will be in
      compliance with the requirements and, therefore, will retain the equipment
      at the end of the contract/grant.

                                        8
<PAGE>

                        SUPERCONDUCTIVE COMPONENTS, INC.

                          NOTES TO FINANCIAL STATEMENTS

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

      STOCK BASED COMPENSATION

      The Company's pro forma information for the six months ended June 30, 2005
      and 2004 in accordance with the provisions of SFAS No. 123, "Accounting
      for Stock-Based Compensation" is provided below. For purposes of pro forma
      disclosures, stock-based compensation is amortized to expense on a
      straight-line basis over the vesting period. The following table compares
      the 2005 and 2004 results as reported to the results had the Company
      adopted the expense recognition provisions of SFAS #123.

<TABLE>
<CAPTION>
                                        June 30,    June 30,
                                           2005        2004
<S>                                    <C>          <C>
Net loss applicable to common shares:
As reported                             $(275,275)  $(649,339)
Stock-based compensation, net of tax       (6,342)     (3,120)
                                       ----------   ---------
Pro forma net loss under SFAS #123      $(281,617)  $(652,459)

Basic and diluted loss per share:
As reported                            $    (0.11)  $   (0.33)
Pro forma under SFAS #123              $    (0.12)  $   (0.33)
</TABLE>

      For the periods ended June 30, 2005 and 2004, there was no stock-based
      employee compensation cost included in the determination of net loss as
      reported.

NOTE 3. INVENTORY

      Inventory is comprised of the following:

<TABLE>
<CAPTION>
                     JUNE 30,     DECEMBER 31,
                      2005            2004
                    -----------   ------------
                    (unaudited)
<S>                 <C>           <C>
Raw materials       $   328,914     $ 340,148
Work-in-progress        203,613       142,390
Finished goods          162,925       168,163
Inventory reserve      (105,562)     (115,530)
                    -----------     ---------
                    $   589,890     $ 535,171
                    ===========     =========
</TABLE>

                                       9
<PAGE>

                        SUPERCONDUCTIVE COMPONENTS, INC.

                          NOTES TO FINANCIAL STATEMENTS

NOTE 4. COMMON STOCK AND STOCK OPTIONS

      The following options were granted under the 1995 Stock Option Plan during
      the six months ended June 30, 2005:

<TABLE>
<CAPTION>
GRANT DATE      # OPTIONS GRANTED    OPTION PRICE
----------      -----------------    ------------
<S>             <C>                  <C>
March 7, 2005       90,000            $    2.40
</TABLE>

NOTE 5. EARNINGS PER SHARE

      Basic income (loss) per share is calculated as income available to common
      stockholders divided by the weighted average of common shares outstanding.
      Diluted earnings per share is calculated as diluted income (loss)
      available to common stockholders divided by the diluted weighted average
      number of common shares. Diluted weighted average number of common shares
      has been calculated using the treasury stock method for Common Stock
      equivalents, which includes Common Stock issuable pursuant to stock
      options and Common Stock warrants. At June 30, 2005 and 2004, all Common
      Stock options and warrants are anti-dilutive due to the net loss. The
      following is provided to reconcile the earnings per share calculations:

<TABLE>
<CAPTION>
                         Three months ended June 30,    Six months ended June 30,
                              2005        2004              2005         2004
                            ---------   ---------       -----------   ---------
<S>                      <C>            <C>             <C>           <C>
Loss applicable
 to common shares           $(130,062)  $(357,249)        $(275,275)  $(649,339)
                            =========   =========         =========   =========

Weighted average
 common shares
 outstanding - basic        2,439,360   2,149,865         2,439,360   1,987,394

Effect of dilutions -
 stock options                      -           -                 -           -
                            ---------   ---------         ---------   ---------

Weighted average
 shares outstanding -
 diluted                    2,439,360   2,149,865         2,439,360   1,987,394
                            =========   =========         =========   =========
</TABLE>

                                       10
<PAGE>

                        SUPERCONDUCTIVE COMPONENTS, INC.

                          NOTES TO FINANCIAL STATEMENTS

NOTE 6. CAPITAL REQUIREMENTS; RISK OF CURTAILMENT OF BUSINESS OPERATIONS

      The Company's accumulated deficit since inception was $8,090,818
      (unaudited) at June 30, 2005. The losses have been financed primarily from
      additional investments and loans by major shareholders and a private
      offering of common stock and warrants to purchase common stock in 2004.
      The Company cannot assure that it will be able to raise additional capital
      in the future to fund its operations.

      As of June 30, 2005, cash on-hand was $172,860. Management believes, based
      on anticipated financing and forecasted sales and expenses, that funding
      will be adequate to sustain operations through December 2005. During 2004
      the Company raised additional funds through offerings of debt and equity.
      The Company received debt financing of $250,000 in 2004. In 2004, the
      Company received $517,935 from the State of Ohio's Third Frontier Action
      Fund to purchase capital equipment required to commercialize the Company's
      Lithium Thin Film Battery sputtering target-manufacturing process. At June
      30, 2005, these funds had been expended.

      In 2004, the Company, in a private placement to eight accredited investors
      sold 300,084 shares of its common stock, without par value, at a purchase
      price of $2.40 per share. The total offering price paid in cash was
      $720,200. As part of the private placement, the accredited investors also
      received warrants to purchase 60,017 shares of the Company's common stock,
      without par value, at a purchase price of $2.88 per share. Because the
      Company completed equity financing of at least $500,000 prior to June 30,
      2004, the principal and accrued interest totaling $754,846 due on
      convertible promissory notes issued on June 30, 2003, converted to 314,519
      shares of common stock, without par value, at a conversion rate of $2.40
      per share. As part of the conversion, the holders of the convertible
      promissory notes also received warrants to purchase an aggregate of 62,901
      shares of the Company's common stock, without par value, at a purchase
      price of $2.88 per share.

      In November of 2004 a director agreed to loan the Company up to $200,000
      for working capital, to be drawn by the Company in increments of $50,000.
      The loan is repayable on November 1, 2005, and may be repaid earlier
      without prepayment penalty upon 15 days prior written notice. The interest
      rate is Huntington National Bank's prime rate plus 2%, and interest will
      accrue and compound monthly. The loan is secured by the Company's assets
      and is perfected by the filing of a UCC-1 financing statement. For each
      $50,000 increment drawn on the loan the director received 5,000 warrants
      to purchase the Company's common stock, without par value, at a purchase
      price of $2.50 per share and exercisable until November 1, 2009. The
      director has the option to convert the loan balance (principal and accrued
      and unpaid interest) to equity at any time before repayment at the same
      price and terms as any equity financing of the Company equal to or in
      excess of $200,000. On November 3, 2004, $100,000 was drawn on the loan.
      An additional $50,000 was drawn on the loan on January 7, 2005 and also on
      April 1, 2005.

                                       11
<PAGE>

                        SUPERCONDUCTIVE COMPONENTS, INC.

                          NOTES TO FINANCIAL STATEMENTS

NOTE 6. CAPITAL REQUIREMENTS; RISK OF CURTAILMENT OF BUSINESS OPERATIONS
        (CONTINUED)

      In April of 2005, the same director who agreed to provide a secured loan
      for $200,000 to the Company in November 2004, agreed to provide an
      additional $200,000 secured loan to the Company for working capital. The
      loan is repayable on June 30, 2006, and may be repaid earlier without
      prepayment penalty upon 15 days prior written notice. The interest rate is
      10%, and interest will accrue and compound monthly. The director has the
      option to convert the loan balance (principal and accrued and unpaid
      interest) to equity at any time before repayment at the same price and
      terms as any equity financing received by the Company after April 14,
      2005. If the Company receives at least $500,000 in equity financing, the
      then outstanding principal sum and accrued and unpaid interest will
      automatically convert to equity at the same price and terms as the equity
      financing. On April 14, 2005, $100,000 was drawn on this loan. $100,000
      was drawn on the loan on May 20, 2005.

      The Company has incurred substantial operating losses through June 30,
      2005, and numerous factors make it necessary for the Company to seek
      additional capital. In order to support the initiatives envisioned in its
      business plan, it will need to raise additional funds through the sale of
      assets, public or private financing, collaborative relationships or other
      arrangements. The Company's ability to raise additional financing depends
      on many factors beyond its control, including the state of capital
      markets, the market price of its common stock and the development or
      prospects for development of competitive products by others. Because the
      common stock is not listed on a major stock exchange, many investors may
      not be willing or allowed to purchase it or may demand steep discounts.
      The necessary additional financing may not be available or may be
      available only on terms that would result in further dilution to the
      current owners of the common stock.

NOTE 7. LEGAL PROCEEDINGS

      On October 29, 2004 a complaint was filed in the Franklin County Court of
      Common Pleas against the Company by Mr. Cavin Carmell, dba University Area
      Rentals ("University Area Rentals"). The complaint alleges that the
      Company left its former leased premises in disrepair and violated the
      terms of its lease. The case is in the early stages of discovery and trial
      is set for October 2005. Based upon the informal discovery provided by
      University Area Rentals, an estimate of damages claimed is between $50,000
      and $100,000. The Company intends to vigorously defend itself against the
      claim.

                                       12
<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS

      The following discussion should be read in conjunction with the Financial
      Statements and Notes contained herein.

      The following section contains forward-looking statements within the
      meaning of the Private Securities Litigation Reform Act of 1995. Any
      statements that express, or involve discussions as to expectations,
      beliefs, plans, objectives, assumptions or future events or performance
      (often, but not always, through the use of words or phrases such as will
      likely result, are expected to, will continue, is anticipated, estimated,
      projection, outlook) are not statements of historical fact and may be
      forward looking. Forward-looking statements involve estimates, assumptions
      and uncertainties that could cause actual results to differ materially
      from those expressed in the forward-looking statements. These
      forward-looking statements are based largely on the Company's expectations
      and are subject to a number of risks and uncertainties, including but not
      limited to economic, competitive, regulatory, growth strategies, available
      financing and other factors discussed elsewhere in this report and in
      other documents filed by the Company with the Securities and Exchange
      Commission. Many of these factors are beyond the Company's control. Actual
      results could differ materially from the forward-looking statements made.
      In light of these risks and uncertainties, there can be no assurance that
      the results anticipated in the forward-looking information contained in
      this report will, in fact, occur.

      Any forward-looking statement speaks only as of the date on which such
      statement is made, and the Company undertakes no obligation to update any
      forward-looking statement or statements to reflect events or circumstances
      after the date on which such statements are made or reflect the occurrence
      of unanticipated events, unless necessary to prevent such statements from
      becoming misleading. New factors emerge from time to time and it is not
      possible for management to predict all factors, nor can it assess the
      impact of each such factor on the business or the extent to which any
      factor, or combination of factors, may cause actual results to differ
      materially from those contained in any forward-looking statements.

      Overview

      Superconductive Components, Inc. ("SCI" or the "Company"), an Ohio
      corporation, was incorporated in 1987, to develop, manufacture and market
      products based on or incorporating high temperature superconductive
      ("HTS") materials. The Company presents itself to the market as SCI
      Engineered Materials, an operating unit of Superconductive Components,
      Inc. The Company views its business as supplying ceramic and metal
      materials to a variety of industrial applications including: HTS,
      Photonics/Optical, and Thin Film Batteries. The production and sale of
      High Temperature Superconducting (HTS) materials was the initial focus of
      the Company's operations and these materials continue to be a significant
      part of the Company's development efforts. Photonics/Optical currently
      represents the Company's largest market for its materials. Thin Film
      Battery materials is a developing market where manufacturers of batteries
      use these materials to produce very small power supplies, with small
      quantities of stored energy.

      Executive Summary

      For the three months ended June 30, 2005, the Company had revenues of
      $713,535. This represented the highest revenue quarter since the third
      quarter of 2002. This was an increase of $138,476 over the first quarter
      of 2005. For the six months ended June 30, 2005, the Company incurred a
      net loss of $262,683 compared to a net loss of $636,747 for the same
      period in 2004. Included in 2004 were non-cash expenses totaling $210,948.

                                       13
<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS (CONTINUED)

      During 2004 the Company relocated its manufacturing to a new, modern
      facility. During this relocation the Company had significant down time.
      The Company was quoting long lead times prior to, during and shortly after
      the move. These long lead times contributed to a reduction in orders. The
      Company's shipments are expected to increase in 2005, as the Company is
      able to provide product with more reasonable lead times. The Company also
      expects gross margins to improve as sales grow. In addition, the Company
      expects improvement in its gross margins as the sales mix moves to higher
      margin products. The thin film battery market is poised for significant
      growth beginning in late 2005.

      The Company achieved ISO 9001:2000 certification during the second quarter
      of 2005. This immediately resulted in the return of a major customer.
      Orders received in the three months ended June 30, 2005 were $750,000 -
      highest since the third quarter of 2003. Orders in the six months ended
      June 30, 2005 of $1,480,000 exceeded the orders received through the same
      date in 2004 by $183,000. The Company expects the amount of orders for
      2005 to be higher than the $2,019,000 received during 2004.

      The Company recently received notification that the Department of Energy
      can provide support for Phase I of an SBIR entitled "Feasibility of Cost
      Effective, Long Length, BSCCO 2212 Round Wires, for Very High Field
      Magnets Beyond 12 Tesla at 4.2 Kelvin." The award, in an amount not to
      exceed $99,793, is in the final negotiation stages and is expected to be
      awarded during the third quarter of 2005.

      RESULTS OF OPERATIONS

      CRITICAL ACCOUNTING POLICIES

      The preparation of financial statements and related disclosures in
      conformity with accounting principles generally accepted in the United
      States of America requires management to make judgments, assumptions and
      estimates that affect the amounts reported in the Financial Statements and
      accompanying notes. Note 2 to the Financial Statements in the Annual
      Report on Form 10-KSB for the year ended December 31, 2004 describes the
      significant accounting policies and methods used in the preparation of the
      Financial Statements. Estimates are used for, but not limited to,
      accounting for the allowance for doubtful accounts, inventory allowances,
      property and equipment depreciable lives, patents and licenses useful
      lives, and assessing changes in which impairment of certain long-lived
      assets may occur. Actual results could differ from these estimates. The
      following critical accounting policies are impacted significantly by
      judgments, assumptions and estimates used in the preparation of the
      Financial Statements. The allowance for doubtful accounts is based on our
      assessment of the collectibility of specific customer accounts and the
      aging of the accounts receivable. We use the percentage of completion
      method to account for contracts based on hours incurred, estimated hours
      to complete and costs incurred with estimates to complete.

      Revenue from product sales is recognized upon shipment to customers.
      Provisions for discounts and returns are provided for in the period the
      Company ships the discounted item or the period the Company agrees to the
      return. Deferred revenues represent cash received in advance of the
      contract revenues earned. Revenue from contract research provided for
      third parties is recognized on the percentage of completion method.

      If there is a deterioration of a major customer's credit worthiness or
      actual defaults are higher than

                                       14
<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS (CONTINUED)

      our historical experience, our estimates of the recoverability of amounts
      due us could be adversely affected. Inventory purchases and commitments
      are based upon future demand forecasts. If there is a sudden and
      significant decrease in demand for our products or there is a higher risk
      of inventory obsolescence because of rapidly changing technology and
      customer requirements, we may be required to increase our inventory
      allowances and our gross margin could be adversely affected. Depreciable
      and useful lives estimated for property and equipment, licenses and
      patents are based on initial expectations of the period of time these
      assets and intangibles will provide benefit to our Company. Changes in
      circumstances related to a change in our business, change in technology or
      other factors could result in these assets becoming impaired, which could
      adversely affect the value of these assets.

      SIX MONTHS ENDED JUNE 30, 2005 (UNAUDITED) COMPARED TO SIX MONTHS ENDED
      JUNE 30, 2004 (UNAUDITED):

      REVENUES

      Revenues for the six months ended June 30, 2005 were $1,288,594 compared
      to $1,170,939, an increase of $117,655 or 10.0% from the six months ended
      June 30, 2004.

      Product revenues increased to $1,110,628 in 2005 from $1,056,644 in 2004
      or an increase of 5.1%. The increase in revenues for the first six months
      is due to the return of two major customers.

      Contract research revenues were $177,966 in 2005 as compared to $114,295
      in 2004. The increase was due to increased work performed on a Phase II
      Small Business Innovation Research grant for $523,612 from the Department
      of Energy that was awarded in 2003. This award was to develop an advanced
      method to manufacture continuous reacted lengths of High Tc
      Superconductor: Bismuth Strontium Calcium Copper Oxide - 2212 Wire.
      Revenues of $177,966 and $103,805 from this grant are included in the
      first six months of revenues for 2005 and 2004, respectively.

      GROSS MARGIN

      Gross margin in 2005 was $260,212 or 20.2% of total revenue compared to
      $184,777 or 15.8% in 2004. Gross margin on product revenue was 23.4% in
      2005 versus 18.3% in 2004. The increase was due to higher sales, which
      resulted from increased production that led to improved operating
      efficiencies. Gross margin on contract research revenue was 0.0% and
      (7.7%) for the six months ended June 30, 2005 and 2004, respectively. The
      negative margin in 2004 was due to the Company's cost share that was
      reimbursed at 50%.

      SELLING EXPENSE

      Selling expense in 2005 decreased to $110,934 from $133,170 in 2004, a
      decline of 16.7%. This was due to a decrease in total wages and commission
      costs and expenses related to trade shows.

      GENERAL AND ADMINISTRATIVE EXPENSE

      General and administrative expense in 2005 decreased to $372,204 from
      $493,000 in 2004, or 24.5%. The decrease was due primarily to the
      relocation of the Company's facility that took

                                       15
<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS (CONTINUED)

      place in the first quarter of 2004, of which $76,051 was expensed for this
      purpose. Also, non-employee stock warrants were granted as compensation
      for consulting services, for which $35,586 was expensed in 2004.

      RESEARCH AND DEVELOPMENT EXPENSE

      Internal research and development costs are expensed as incurred. Internal
      research and development costs for 2005 were $(4,454) compared to $6,577
      in 2004. Internal research and development costs decreased due to an
      increase in contract research expenses, which resulted in internal
      expenses being absorbed by the grant into cost of goods sold for contract
      research.

      INTEREST EXPENSE

      Interest expense was $40,209 and $17,676 for the six months ended June 30,
      2005 and 2004, respectively. Interest expense to related parties was
      $38,006 and $13,361 for the six months ended June 30, 2005, and June 30,
      2004, respectively. The increase was primarily due to the interest
      incurred as a result of the notes payable to a director.

      LOSS APPLICABLE TO COMMON SHARES

      BASIC

      Loss applicable to common shares was $275,275 and $649,339 for the six
      months ended June 30, 2005 and 2004, respectively. Net loss per common
      share based on the loss applicable to common shares for the six months
      ended June 30, 2005 and 2004 was $0.11 and $0.33, respectively. The loss
      applicable to common shares includes the net loss from operations and
      Series B preferred stock dividends. The net loss per common share from
      operations was $0.11 and $0.32 for the six months ended June 30, 2005 and
      2004, respectively.

      Dividends on the Series B preferred stock accrue at 10% annually on the
      outstanding shares. Dividends on the Series B preferred stock totaled
      $12,592 for the six months ended June 30, 2005 and 2004, respectively.

      Basic loss per common share for the six months ended June 30, 2005, was
      $0.11 per share with 2,439,360 weighted average common shares outstanding
      as compared to $0.33 per share and 1,987,394 weighted average common
      shares outstanding for the six months ended June 30, 2004.

      DILUTED

      Diluted loss per common share for the six months ended June 30, 2005 was
      $0.11 per share with 2,439,360 average common shares outstanding as
      compared to $0.33 per share and 1,987,394 weighted average common shares
      outstanding for the six months ended June 30, 2004. For the six months
      ended June 30, 2005 and 2004, all outstanding common stock equivalents are
      anti-dilutive due to the net loss.

      LIQUIDITY AND WORKING CAPITAL

      At June 30, 2005, working capital was $(460,173) compared to $156,203 at
      June 30, 2004. The decrease was due to a reduction in cash from
      operations, as well as a reduction in cash restricted

                                       16
<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS (CONTINUED)

      for equipment purchases for the TFAF grant in the amount of $247,902.
      Also, an increase in notes payable, shareholders reduced working capital.
      The Company used cash from operations of approximately $276,000 and
      $41,000 for the six months ended June 30, 2005 and June 30, 2004,
      respectively. Significant non-cash items including depreciation, accretion
      and amortization, warrants issued for consulting, debt conversion expense,
      inventory reserve on excess and obsolete inventory, and allowance for
      doubtful accounts were approximately $108,000 and $331,000, respectively,
      for the six months ended June 30, 2005 and 2004. Accounts receivable,
      inventory and prepaids increased in excess of increases in accounts
      payable and accrued expenses by approximately $121,000 for the six months
      ended June 30, 2005. Accounts payable and accrued expenses increased in
      excess of increases in accounts receivable, inventory and prepaids by
      approximately $263,000 for the six months ended June 30, 2004.

      For investing activities, the Company used cash of approximately $25,000
      and $341,000, for the six months ended June 30, 2005 and June 30, 2004,
      respectively. The amounts invested were used to purchase machinery and
      equipment for increased production capacity and for leasehold improvements
      for the new facility. Proceeds on sale of equipment totaled $250 and
      $1,602 for the six months ended June 30, 2005 and June 30, 2004,
      respectively.

      For financing activity for the six months ended June 30, 2005, the Company
      provided cash of approximately $283,000. Cash payments to third parties
      for capital lease obligations approximated $17,000. Proceeds from notes
      payable totaled $300,000.

      For financing activity for the six months ended June 30, 2004, the Company
      provided cash of approximately $644,000. Cash payments to third parties
      for capital lease obligations approximated $19,000; proceeds from notes
      payable totaled $150,000. Proceeds from sale of common stock was $659,000
      and proceeds from the exercise of stock options totaled $3,500. Cash
      payments for notes payable were $150,000.

      While certain major shareholders of the Company have advanced funds in the
      form of secured debt, subordinated debt, accounts payable and guaranteeing
      bank debt in the past, there is no commitment by these individuals to
      continue funding the Company or guaranteeing bank debt in the future. The
      Company will continue to seek new financing or equity financing
      arrangements. However, the Company cannot be certain that it will be
      successful in efforts to raise additional funds.

      In November of 2004, a director agreed to loan the Company up to $200,000
      for working capital, to be drawn by the Company in increments of $50,000.
      The loan is repayable on November 1, 2005, and may be repaid earlier
      without prepayment penalty upon 15 days prior written notice. The interest
      rate is Huntington National Bank's prime rate plus 2%, and interest will
      accrue and compound monthly. The loan is secured by the Company's assets
      and is perfected by the filing of a UCC-1 financing statement. For each
      $50,000 increment drawn on the loan the director received 5,000 warrants
      to purchase the Company's common stock, without par value, at a purchase
      price of $2.50 per share and exercisable until November 1, 2009. The
      director has the option to convert the loan balance (principal and accrued
      and unpaid interest) to equity at any time before repayment at the same
      price and terms as any equity financing of the Company equal to or in
      excess of $200,000. On November 3, 2004, $100,000 was drawn on the loan.
      $50,000 was drawn on the loan on January 7, 2005 and also on April 1,
      2005. In April of 2005 the same director agreed to loan the Company up to
      an additional $200,000 for working capital. The loan is repayable on June
      30, 2006, and may be repaid earlier without prepayment penalty upon 15

                                       17
<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS (CONTINUED)

      days prior written notice. The interest rate is 10%, and interest will
      accrue and compound monthly. The director has the option to convert the
      loan balance (principal and accrued and unpaid interest) to equity at any
      time before repayment at the same price and terms as any equity financing
      received by the Company after April 14, 2005. If the Company receives at
      least $500,000 in equity financing, the then outstanding principal sum and
      accrued and unpaid interest will automatically convert to equity at the
      same price and term as the equity financing. On April 14, 2005, $100,000
      was drawn on this loan. An additional $100,000 was drawn on this loan on
      May 20, 2005.

      RISK FACTORS

      The Company desires to take advantage of the "safe harbor" provisions of
      the Private Securities Litigation Reform Act of 1995. The following
      factors, as well as the factors listed under the caption "Risk Factors" in
      the Company's Form 10-KSB filed with the Securities and Exchange
      Commission on March 31, 2005, have affected or could affect the Company's
      actual results and could cause such results to differ materially from
      those expressed in any forward-looking statements made by the Company.
      Investors should consider carefully these risks and speculative factors
      inherent in and affecting the business of the Company and an investment in
      the Company's common stock.

      We have experienced significant operating losses in the past and may
      continue to do so in the future.

      We commenced business in May of 1987. Our accumulated deficit since
      inception was $8,090,818 (unaudited) at June 30, 2005.

      We have financed the losses primarily from additional investments and
      loans by our major shareholders and a private offering of common stock and
      warrants to purchase common stock in 2004. We cannot assure you, however,
      that we will be able to raise additional capital in the future to fund our
      operations.

      If we are unable to obtain additional funds we may have to significantly
      curtail the scope of our operations or liquidate the Company.

      As of June 30, 2005, our cash on-hand was $172,860. During the first six
      months of 2005, the Company used approximately $276,000 in cash for
      operations, with the TFAF grant accounting for $143,000. We believe, based
      on anticipated financing and forecasted sales and expenses, that our
      funding will be adequate to sustain operations through December 2005.

      Off Balance Sheet Arrangements

      The Company has no off balance sheet arrangements including special
      purpose entities.

                                       18
<PAGE>

ITEM 3. CONTROLS AND PROCEDURES

      As of the end of the period covered by this report, the Company's Chief
      Executive Officer and Chief Financial Officer evaluated the effectiveness
      of the design and operation of the Company's disclosure controls and
      procedures (as defined in Rules 13a-15(e) and 15d-15(e) promulgated under
      the Securities Exchange Act of 1934). Based upon this evaluation, the
      Chief Executive Officer and Chief Financial Officer concluded that the
      disclosure controls and procedures were effective as of the period covered
      by this report in ensuring that information required to be disclosed by
      the Company in the reports that it files or submits under the Securities
      and Exchange Act of 1934, as amended, is recorded, processed, summarized
      and reported within the time period specified by the Securities and
      Exchange Commission's rules and forms.

      Additionally, there were no changes in the Company's internal controls
      that could materially affect the Company's disclosure controls and
      procedures subsequent to the date of their evaluation, nor were there any
      material deficiencies or material weaknesses in the Company's internal
      controls. As a result, no corrective actions were required or undertaken.

                                       19
<PAGE>

                           PART II. OTHER INFORMATION

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

      (a)   On April 14, 2005, Superconductive Components, Inc. (the "Company")
            entered into a Convertible Promissory Note (the "Convertible Note"),
            dated as of April 14, 2005, by and between the Company, as Borrower,
            and Robert H. Peitz, as Lender. Mr. Peitz currently serves as a
            director on the Company's Board of Directors. At anytime before
            repayment, the outstanding principal and accrued interest owed will
            automatically convert to equity on the same price and terms as any
            equity financing received by the Company after the date of the loan
            agreement, provided that the Company receives at least five hundred
            thousand dollars ($500,000) from the equity financing. If the
            Company completes an equity financing, but receives less than
            $500,000, Mr. Peitz will have the option to otherwise convert the
            outstanding principal and accrued interest owed under the same terms
            as the equity financing. In the Company's opinion, the issuance of
            this convertible note was exempt from registration pursuant to
            Section 4(2) of the Securities Act, because the transaction did not
            involve a public offering. The proceeds from the convertible
            promissory note were used for working capital.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

      (a)   The Company held its Annual Meeting of Shareholders on June 10,
            2005, for the purpose of electing five directors.

      (b)   The following nominees were elected as directors of the Company at
            the Annual Meeting of Shareholders: Robert J. Baker, Walter J.
            Doyle, Robert H. Peitz, Daniel Rooney, and Edward W. Ungar.

      (c)   The table shows the voting tabulations for the matter voted upon at
            the Annual Meeting of Shareholders.

<TABLE>
<CAPTION>
                              FOR          WITHHELD
<S>                       <C>              <C>
Robert J. Baker, Jr.      1,600,372            150
Walter J. Doyle           1,600,252            270
Robert H. Peitz           1,600,272            250
Daniel Rooney             1,600,312            210
Edward W. Ungar           1,596,352          4,170
</TABLE>

<TABLE>
<CAPTION>
ITEM 6.    EXHIBITS.
<S>        <C>
           31.1 Rule 13a-14(a) Certification of Principal Executive Officer.

           31.2 Rule 13a-14(a) Certification of Principal Financial Officer.

           32.1 Section 1350 Certification of Principal Executive Officer.

           32.2 Section 1350 Certification of Principal Financial Officer.

           99.1 Press Release dated August 1, 2005, entitled "Superconductive
                Components, Inc. Reports Improved Second Quarter Results"
</TABLE>

                                       20
<PAGE>

                                   SIGNATURES

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 thereunto duly authorized.

                                SUPERCONDUCTIVE COMPONENTS, INC.

Date: August 1, 2005            /s/ Daniel Rooney
                                --------------------------------------------
                                Daniel Rooney, President and Chief Executive
                                Officer
                                (Principal Executive Officer)

                                /s/ Gerald S. Blaskie
                                --------------------------------------------
                                Gerald S. Blaskie, Chief Financial Officer
                                (Principal Financial Officer)

                                       21