GENCOR INDUSTRIES INC 10-Q

Item 1A. Risk Factors Our business, operations, and financial condition are subject to various risks and uncertainties. The risk factors described in Part I, Item 1A, “Risk Factors” contained in our Annual Report on Form 10K for the year ended September 30, 2021, as filed with the SEC on December 17, 2021, should be carefully considered, together with the other information contained or incorporated by reference in this Quarterly Report on Form 10-Q and in our other filings filed with the SEC in connection with evaluating us, our business, and the forward-looking statements contained in this Quarterly Report on Form 10-Q. During the nine months ended June 30, 2022, there have been no material changes from the risk factors previously disclosed under Part I, Item 1A, “Risk Factors” in our Annual Report on Form 10-K, for the year ended September 30, 2021, other than the addition of the following risk factor: Global, market and economic conditions may negatively impact our business, financial condition and share price Concerns over inflation, geopolitical issues, global financial markets and the COVID-19 pandemic have led to increased economic instability and expectations of slower global economic growth. Our business may be adversely affected by any such economic instability or unpredictability. Russia’s invasion of Ukraine and related sanctions has led to increased oil and natural gas prices. Such sanctions and disruptions to the global economy may lead to additional inflation and may disrupt the global supply chain and could have a material adverse effect on our ability to secure supplies. The increased cost of oil, along with increased or prolonged periods of inflation, would likely increase our costs in the form of higher wages, further inflation on supplies and equipment necessary to operate our business. There is a risk that one or more of our suppliers could be negatively affected by global economic instability, which could adversely affect our ability to operate efficiently and timely complete our operational goals. Our marketable securities, including cash and money funds, equities, corporate bonds, mutual funds, exchange-traded funds, and government securities invested through a professional investment management firm are subject to general credit, liquidity, market and interest rate risks, instability in the global financial markets, or other factors. As a result of recent market volatility, the value of our investments has declined, may continue to fluctuate, and may continue to have a negative effect on our financial results and, if we need to liquidate our investments to fund operations, then the availability of cash to fund our operations may be reduced. Net losses relating to marketable securities reported during the quarter and nine months ended June 30, 2022 were $3,693,000 and $4,020,000, respectively. 22 Table of Contents Item 6. Exhibits Exhibit 31.1 Certification of Principal Executive Officer Pursuant to Rule 13a – 14(a) of the Securities Exchange Act of 1934, as amended Exhibit 31.2 Certification of Chief Financial Officer Pursuant to Rule 13a – 14(a) of the Securities Exchange Act of 1934, as amended Exhibit 32 Certifications of Principal Executive Officer and Chief Financial Officer Pursuant to 18 U. S. C. Section 1350 Exhibit 101.1 Inline Interactive Data File Exhibit 101.INS XBRL Instance Document – the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document Exhibit 101.SCH Inline XBRL Schema Document Exhibit 101.CAL Inline XBRL Calculation Linkbase Document Exhibit 101.DEF Inline XBRL Definition Linkbase Document Exhibit 101.LAB Inline XBRL Label Linkbase Document Exhibit 101.PRE Inline XBRL Presentation Linkbase Document Exhibit 104 The cover page from the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, formatted in Inline XBRL (included in Exhibit 101) 23 Table of Contents 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. GENCOR INDUSTRIES, INC. /s/ Marc G. Elliott Marc G. Elliott President (Principal Executive Officer) August 12, 2022 /s/ Eric E. Mellen Eric E. Mellen Chief Financial Officer (Principal Financial and Accounting Officer) August 12, 2022 24