<PAGE>

                                                                      EXHIBIT 21

                         SUBSIDIARIES OF THE REGISTRANT

<TABLE>
<CAPTION>
                                           Location of Incorporation               Percent
Subsidiaries of the Registrant                  or Organization                   Ownership
------------------------------             -------------------------              ---------
<S>                                        <c>                                    <C>
American Azide Corporation                          Nevada                          100%

American Pacific Corporation                        Nevada                          100%

AMPAC Farms, Inc.                                   Nevada                          100%
</TABLE>

