What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2022-04-11 compared with 2021-04-14 · 225 added, 242 removed, 32 unchanged (94% of the section changed)

are engaged in the research and development of proprietary gas-to-liquids (“

GTL ”) synthesis gas (“

Syngas ”)

are engaged in the research and development of proprietary gas-to-liquids (“ GTL ”) synthesis gas (“ Syngas ”)

conversion systems and micro-plants that can be scaled to meet specific gas field production requirements.

Our patented and proprietary

technologies have been realized in our first commercial G-Reformer TM unit (“

G-Reformer ”), a unique

component used to convert natural gas into Syngas, which when combined with a Fischer-Tropsch (“

FT ”) reactor

and catalyst, produces fuels including gasoline, diesel, jet fuel and methanol.

G-Reformer units can be deployed to process a

variety of natural gas streams including pipeline gas, associated gas, flared gas, vented gas, coal-bed methane and/or biomass

When derived from any of these natural gas sources, the liquid fuels created are incrementally cleaner than conventionally

produced oil-based fuels.

Our Company’s objective is to become a material direct and licensed producer of renewable GTL

synthesized diesel and jet fuels, with a near -term focus on U.S.

technologies have been realized in our first commercial G-Reformer TM unit (“ G-Reformer ”), a unique component

used to convert natural gas into Syngas, which when combined with a Fischer-Tropsch (“ FT ”) reactor and catalyst, produces

fuels including gasoline, diesel, jet fuel and methanol.

G-Reformer units can be deployed to process a variety of natural gas streams

including pipeline gas, associated gas, flared gas, vented gas, coal-bed methane and/or biomass gas.

When derived from any of these natural

gas sources, the liquid fuels created are incrementally cleaner than conventionally produced oil-based fuels.

Our Company’s objective

is to become a material direct and licensed producer of renewable GTL synthesized diesel and jet fuels, with a near -term focus on U.S.

market opportunities.

For more information about our Company,

please visit our website located at https://gwtechinc.com/ .

For more information about our Company, please visit our website located at https://gwtechinc.com/ .

GTL Technology

August 2012, we acquired 100% of GIE, pursuant to that certain Purchase Agreement, by and between us and GIE, dated August 29, 2012,

2012, and filed as Exhibit 10.5 to this Form 10-K, and incorporated by reference herein (the “

GIE Acquisition Agreement ”).

and filed as Exhibit 10.5 to this Form 10-K, and incorporated by reference herein (the “ GIE Acquisition Agreement ”).

GIE owns patents and trade secrets for a proprietary technology to convert natural gas into Syngas.

Based on a new, breakthrough

process called Fractional Thermal Oxidation™

FTO ”), we believe that the G-Reformer, combined with conventional

FT processes, offers an economical and scalable method to converting natural gas to liquid fuel.

On February 15, 2013, GIE filed

for its first patent on this GTL technology, resulting in the issue of U.S.

Based on a new, breakthrough process

called Fractional Thermal Oxidation™ (“ FTO ”), we believe that the G-Reformer, combined with conventional FT

processes, offers an economical and scalable method to converting natural gas to liquid fuel.

On February 15, 2013, GIE filed for its

first patent on this GTL technology, resulting in the issue of U.S.

Patent 8,574,501 B1 on November 5, 2013.

4, 2013, GIE filed for a second patent covering other unique aspects of the design and was issued U.S.

Patent 8,795,597 B2 on

August 5, 2014.

The Company has several other pending patent applications, both domestic and international, related to various

components and processes relating to our proprietary GTL methods, complementing our existing portfolio of issued patents and pending

patent applications.

June 26, 2017, we and the University of Texas at Arlington (“

UTA ”) announced that we had successfully demonstrated

On November 4, 2013, GIE

filed for a second patent covering other unique aspects of the design and was issued U.S.

Patent 8,795,597 B2 on August 5, 2014.

Company has several other pending patent applications, both domestic and international, related to various components and processes relating

to our proprietary GTL methods, complementing our existing portfolio of issued patents and pending patent applications.

June 26, 2017, we and the University of Texas at Arlington (“ UTA ”) announced that we had successfully demonstrated

our GTL technology at our sponsored Conrad Greer Laboratory at UTA, proving the viability of the science behind the technology.

March 6, 2018, we announced the completion of our first commercial scale G-Reformer, a critical component in what we call the

Greer-Wright GTL system.

The G-Reformer is the critical component of the Company’s innovative GTL system .

consisting of individuals from our Company, UTA and our Company’s contracted G-Reformer manufacturer worked together to

test and calibrate the newly built G-Reformer unit.

The testing substantiated the units’

Syngas generation capability and

demonstrated additional proficiencies within certain proprietary prior prescribed testing metrics.

July 23, 2019, we announced that Mabert LLC, a Texas limited liability company (“

Mabert ”), controlled by Kevin

Jones, one of our directors, acquired INFRA Technology Group’s U.S.

GTL plant and technology located in Wharton, Texas (the

Wharton Plan t”).

Mabert purchased the entire 5.2-acre site, plant and equipment, including INFRA’s proprietary

FT reactor system and operating license agreement.

August 29, 2019, to further facilitate the commercialization process, we announced that it entered into the joint venture, OPM

Green Energy, LLC, a Texas limited liability company (“

OPMGE ”), for an ownership interest in the Wharton Plant.

The other members of OPMGE are Mabert and Tom Phillips, Vice President of Operations for GIE.

Our involvement in OPMGE is intended

to facilitate third-party certification of our G-Reformer and related equipment and technology.

In addition, we anticipate that

OPMGE’s operations will demonstrate that the G-Reformer is a commercially viable technology for producing Syngas and marketable

fuel products.

As the first operating GTL plant to use our proprietary reforming technology and equipment, the Wharton Plant is

initially expected to yield a minimum of 75 - 100 barrels per day of gasoline and diesel fuels from converted natural gas.

March 6, 2018, we announced the completion of our first commercial scale G-Reformer, a critical component in what we call the Greer-Wright

The G-Reformer is the critical component of the Company’s innovative GTL system .

A team consisting of individuals

from our Company, UTA and our Company’s contracted G-Reformer manufacturer worked together to test and calibrate the newly built

G-Reformer unit.

The testing substantiated the units’ Syngas generation capability and demonstrated additional proficiencies within

certain proprietary prior prescribed testing metrics.

July 23, 2019, we announced that Mabert LLC, a Texas limited liability company (“ Mabert ”), 100% owned by Kevin

Jones, acquired INFRA Technology Group’s U.S.

GTL plant and technology located in Wharton, Texas (the “ Wharton Plan t”).

Mabert purchased the entire 5.2-acre site, plant and equipment, including INFRA’s proprietary FT reactor system and operating license

On August 29, 2019,

to further facilitate the commercialization process, we announced that Greenway entered into a joint venture with OPM Green Energy, LLC,

a Texas limited liability company (“ OPMGE ”), for a 42.857% ownership interest in OPMGE.

In exchange for its 42.857%

ownership of OPMGE, Greenway agreed to contribute a G-Reformer to the entity.

The other members of OPMGE are Mabert, which owns 42.857%

and Tom Phillips, our former Vice President of Operations for GIE, who owns 14.286%.

Additionally, OPMGE entered a LEASE AGREEMENT with

Mabert whereby OPMGE leased the Wharton Plant from Mabert.

Our involvement in OPMGE was intended to facilitate third-party certification

of our G-Reformer and related equipment and technology.

In addition, we anticipated that OPMGE’s operations would demonstrate that

the G-Reformer is a commercially viable technology for producing Syngas and marketable fuel products.

As the first operating GTL plant

to use our proprietary reforming technology and equipment, the Wharton Plant was initially expected to yield a minimum of 75 - 100 barrels

per day of gasoline and diesel fuels from converted natural gas.

never transferred the G-Reformer to OPMGE, as required by the LIMITED LIABILITY COMPANY AGREEMENT OF OPM GREEN ENERGY, LLC.

it defaulted on its obligation under the agreement.

Under the LEASE AGREEMENT between Mabert and OPMGE, OPMGE was required to pay rent

and to pay the following expenses relating to the operation of the Wharton Plant:

removal and lawn maintenance

● Maintenance,

Repairs or Alterations

lease stated that this transaction was a “Triple Net Lease.”

OPMG did not pay rent or the other expenses outlined above, it represented Events of Default, which allowed Mabert the right to terminate

Based on the Events of Default that occurred, Mabert exercised its right to terminate the lease.

April 28, 2020, the Company was issued a new U.S.

Patent 10,633,594 B1 for syngas generation for gas-to-liquid fuel conversion.

The Company has several other pending patent applications, both domestic and international, related to various components and

processes involving our proprietary GTL methods, which when granted, will further complement our existing portfolio of issued

patents and pending patent applications.

December 8, 2020, the Company announced an exclusive worldwide patent licensing agreement with the University of Texas at Arlington

(UTA) for all patent applications currently filed with the Patent and Trademark Office relating to GWTI’s natural gas reforming

technologies developed under its sponsored research agreement with UTA.

December 15, 2020, the Company announced additional information regarding valuable outputs produced by the company’s proprietary

G-Reformer ™

catalyst reactor and Fischer-Tropsch (FT) technology which combine to form the “Greer-Wright”

has several other pending patent applications, both domestic and international, related to various components and processes involving

our proprietary GTL methods, which when granted, will further complement our existing portfolio of issued patents and pending patent

applications.

December 8, 2020, the Company announced an exclusive worldwide patent licensing agreement with the University of Texas at Arlington (UTA)

for all patent applications currently filed with the Patent and Trademark Office relating to GWTI’s natural gas reforming technologies

developed under its sponsored research agreement with UTA.

December 15, 2020, the Company announced additional information regarding valuable outputs produced by the company’s proprietary

G-Reformer ™ catalyst reactor and Fischer-Tropsch (FT) technology which combine to form the “Greer-Wright”

GTL solution.

Originally developed to convert natural gas into ultra-clean synthetic fuel, recent research and development activity

has shown that the technology can also allow the extraction of high-value chemicals and alcohols.

The chemical outputs include

n-Hexane, n-Heptane, n-Octane, n-Decane, n-Dodecane, and n-Tridecane.

Originally developed to convert natural gas into ultra-clean synthetic fuel, recent research and development activity has

shown that the technology can also allow the extraction of high-value chemicals and alcohols.

The chemical outputs include n-Hexane,

n-Heptane, n-Octane, n-Decane, n-Dodecane, and n-Tridecane.

Alcohols produced include ethanol and methanol.

has identified worldwide industrial demand for these outputs which will significantly improve the economic return on investment

(ROI) of GTL plants that are based on GWTI’s technology.

GWTI is a development-stage company with plans to commercialize

its unique and patented technology.

The company has identified

worldwide industrial demand for these outputs which will significantly improve the economic return on investment (ROI) of GTL plants

that are based on GWTI’s technology.

GWTI is a development-stage company with plans to commercialize its unique and patented technology.

we believe that our proprietary G-Reformer is a major innovation in gas reforming and GTL technology in general.

Initial tests

have demonstrated that our Company’s solution appears to be superior to legacy technologies, which are more costly, have

a larger footprint, and cannot be easily deployed at field sites to process associated gas, stranded gas, coal-bed methane, vented

gas, or flared gas.

In addition, the Wharton Plant is anticipated to prove out the economics for the Company’s technology

and GTL processes.

technology for the G-Reformer is unique, because it permits for transportable (mobile) GTL plants with much smaller footprints,

compared to legacy large-scale technologies.

Thus, we believe that our technologies and processes will allow for multiple small-scale

GTL plants to be built with substantially lower up-front and ongoing costs, resulting in more profitable results for oil and gas

Industry –Market

converts natural gas –

the cleanest-burning fossil fuel –

into high-quality liquid products that would otherwise be

made from crude oil.

These products include transport fuels, motor oils, and the ingredients for everyday necessities like plastics,

detergents, and cosmetics.

GTL products are colorless, odorless, and contain almost none of the impurities, (e.g., sulphur, aromatics,

and nitrogen) that are found in crude oil.

Company has developed a revolutionary and unique process that converts natural gas of various origins and compositions into a

highly pure variety of chemicals, high cetane diesel fuel, industrial grade pure water and electrical energy.

GTL technology has

existed as a traditional process going back generations.

Initial tests have demonstrated

that our Company’s solution appears to be superior to legacy technologies, which are more costly, have a larger footprint, and

cannot be easily deployed at field sites to process associated gas, stranded gas, coal-bed methane, vented gas, or flared gas.

technology for the G-Reformer is unique, because it permits for transportable (mobile) GTL plants with much smaller footprints, compared

to legacy large-scale technologies.

Thus, we believe that our technologies and processes will allow for multiple small-scale GTL plants

to be built with substantially lower up-front and ongoing costs, resulting in more profitable results for oil and gas operators.

Industry –Market

converts natural gas – the cleanest-burning fossil fuel – into high-quality liquid products that would otherwise be made

from crude oil.

These products include transport fuels, motor oils, and the ingredients for everyday necessities like plastics, detergents,

and cosmetics.

GTL products are colorless, odorless, and contain almost none of the impurities, (e.g., sulphur, aromatics, and nitrogen)

that are found in crude oil.

Company has developed a revolutionary and unique process that converts natural gas of various origins and compositions into a highly

pure variety of chemicals, high cetane diesel fuel, industrial grade pure water and electrical energy.

GTL technology has existed as

a traditional process going back generations.

This process consists of two steps.

First, natural gas is converted into

Synthesis Gas (Syngas) which is a non-naturally occurring blend of Hydrogen and Carbon Monoxide.

The front-end part of the GTL

process is called “Gas Reformation”.

The output of the Gas Reformer is compressed and fed through a secondary process,

called Fischer-Tropsch (FT).

This secondary process is widely used in many forms in the chemical and oil industries.

is a common process, Gas Reformation has been the most difficult step beyond an old and traditional process typically used in

The invention of our software-controlled GTL process fronted by our patented and revolutionary gas reformation unit,

the G-Reformer®, makes us the innovator in GTL technology.

Our patents are based on scalability, transportability, flexibility

and self-sustainment based on a wide variety of input gasses and output mixtures.

Company’s process is made of small sized modularly scalable units which are portable and self-contained unlike other GTL

solutions based on Steam Methane reformation.

While many companies have tried to scale Steam Methane Reformation down for use

in smaller, non-refinery based GTL plants, they have been largely unsuccessful.

As a result, we can build self-sufficient GTL

plants at virtually any location capable of supplying wellhead or pipeline gas of sufficient ongoing volume.

This gives us the

ability to eliminate flaring at the source while keeping remote oil fields in production without flaring.

The conversion of flaring

gas to liquid allows trucks to easily move liquid chemicals, clean diesel fuel, highly clean water and the power grid to move

electricity from virtually any location.

First, natural gas is converted into Synthesis Gas

(Syngas) which is a non-naturally occurring blend of Hydrogen and Carbon Monoxide.

The front-end part of the GTL process is called “Gas

Reformation”.

The output of the Gas Reformer is compressed and fed through a secondary process, called Fischer-Tropsch (FT).

secondary process is widely used in many forms in the chemical and oil industries.

While FT is a common process, Gas Reformation has

been the most difficult step beyond an old and traditional process typically used in refineries.

The invention of our software-controlled

GTL process fronted by our patented and revolutionary gas reformation unit, the G-Reformer®, makes us the innovator in GTL technology.

Our patents are based on scalability, transportability, flexibility and self-sustainment based on a wide variety of input gasses and

output mixtures.

Company’s process is made of small sized modularly scalable units which are portable and self-contained unlike other GTL solutions

based on Steam Methane reformation.

While many companies have tried to scale Steam Methane Reformation down for use in smaller, non-refinery

based GTL plants, they have been largely unsuccessful.

As a result, we can build self-sufficient GTL plants at virtually any location

capable of supplying wellhead or pipeline gas of sufficient ongoing volume.

This gives us the ability to eliminate flaring at the source

while keeping remote oil fields in production without flaring.

The conversion of flaring gas to liquid allows trucks to easily move liquid

chemicals, clean diesel fuel, highly clean water and the power grid to move electricity from virtually any location.

initial ROI studies of the market for high purity chemicals we produce can provide incredibly rapid payback of investments.

should be noted the vast majority of these chemicals produced are made in China.

Further, because they originate from a barrel

of oil at a refinery, they are much lower in purity.

be noted the vast majority of these chemicals produced are made in China.

Further, because they originate from a barrel of oil at a refinery,

they are much lower in purity.

created by the GTL process include High Cetane Diesel, Naphtha, Technical Grade Water, and high value, high purity chemicals.

The chemicals produced in the GWTI GTL plant are vital to many industries including pharmaceutical, cosmetics, fragrances, adhesives,

The chemicals

which would be produced in the GTL plant would be vital to many industries including pharmaceutical, cosmetics, fragrances,

adhesives, and others.

The vast majority of these chemicals are produced in China.

Such dependency makes America captive to shortfalls whether

they are manufacturing related or intentional.

Such dependency makes America captive to shortfalls

whether they are manufacturing related or intentional.

By making these chemicals in the USA, we reduce that dependency and keep the product,

the jobs, and the profits in America.

to publicly available industry research from Shell Oil, MarketResearchFuture.com, among others, the market for GTL products is

said to have accounted for approximately $11.9 billion in 2019 and is expected to reach $20.4 billion by 2025, growing at a compound

annual growth rate of 7.55% over that period.

of stringent environmental regulations by numerous governments to control pollution and promote cleaner fuel sources is expected

to complement industry growth.

of stringent environmental regulations by numerous governments to control pollution and promote cleaner fuel sources is expected to complement

industry growth.

For example, we believe that U.S.

guidelines such as the Petroleum and Natural Gas Regulatory Board

Act, 2006, Oilfields (Regulation and Development) Act of 1948, and Oil Industry (Development) Act, 1974 are likely to continue

to encourage GTL applications in diverse end-use industries to conserve natural gas and other resources.

Under the Clean Air Act

(CAA), the EPA sets limits on certain air pollutants, including setting limits on how much can be in the air anywhere in the United

The Clean Air Act also gives EPA the authority to limit emissions of air pollutants coming from sources like chemical

plants, refineries, utilities, and steel mills.

Individual states or tribes may have stronger air pollution laws, but they may

not have weaker pollution limits than those set by EPA.

Because our G-Reformer based GTL plants are not considered refineries,

they do not fall under any related current EPA air quality guidelines.

More information can be found under the EPA’s New

Source Performance Standards which are published under 40 CFR 60.

guidelines such as the Petroleum and Natural Gas Regulatory Board Act, 2006, Oilfields

(Regulation and Development) Act of 1948, and Oil Industry (Development) Act, 1974 are likely to continue to encourage GTL applications

in diverse end-use industries to conserve natural gas and other resources.

Under the Clean Air Act (CAA), the EPA sets limits on certain

air pollutants, including setting limits on how much can be in the air anywhere in the United States.

The Clean Air Act also gives EPA

the authority to limit emissions of air pollutants coming from sources like chemical plants, refineries, utilities, and steel mills.

Individual states or tribes may have stronger air pollution laws, but they may not have weaker pollution limits than those set by EPA.

Because our G-Reformer based GTL plants are not considered refineries, they do not fall under any related current EPA air quality guidelines.

More information can be found under the EPA’s New Source Performance Standards which are published under 40 CFR 60.

industry players include:

2 unchanged sentences

and Sasol Limited.

of global production and consumption, Shell had the largest market share in 2019, with virtually all current production located

Our technology is not designed to compete with the large refinery-size GTL plants operated by such large industry operators.

Our plants are designed to be scaled to meet individual gas field production requirements on a distributed and mobile basis.

to a report released in July 2019 by the Global Gas Flaring Reduction Partnership (“GGFRP”), there are currently only

5 small-scale GTL plant technologies that have been proven and are now available for flared gas monetization available in the

U.S., including:

Greyrock (“Flare to Fuels”);

In terms of global

production and consumption, Shell had the largest market share in 2021, with virtually all current production located overseas.

Our technology

is not designed to compete with the large refinery-size GTL plants operated by such large industry operators.

Our plants are designed

to be scaled to meet individual gas field production requirements on a distributed and mobile basis.

According to a report released in

July 2019 by the Global Gas Flaring Reduction Partnership (“GGFRP”), there are currently only 5 small-scale GTL plant technologies

that have been proven and are now available for flared gas monetization available in the U.S., including:

Greyrock (“Flare to Fuels”);

Advantage Midstream (licensing Greyrock technology);

EFT (“Flare

Buster”);

Primus GE and GasTechno (“Methanol in a Box”).

We were not a direct part of this study, as we had

not received 3rd party certification of our proprietary technology as of the date of this report.

the GGFRP report mentioned us as follows, “Greenway Technologies announced on July 23 that Mabert LLC, a major investor

in Greenway, acquired the whole INFRA plant including an operating license agreement.

The purpose of the acquisition is the incorporation

and commercial demonstration of Greenway’s ‘G-Reformer’

We will see whether the new team will be

able to make the plant with the new reformer operational.

(Globe Newswire, Fort Worth, Texas, Aug 31, 2019).”

December 2010, UMED acquired the rights to approximately 1,440 acres of placer mining claims located on Bureau of Land Management

BLM ”) land in Mohave County, Arizona (such property, the “

Arizona Property ”), in an Assignment

Agreement dated December 27, 2010, and filed as Exhibit 10.31 to this Form 10-K, between Melek Mining, Inc., 4HM Partners, Inc.

and the Company, in exchange for 5,066,000 shares of our common stock.

Early indications from samples taken and processed by Melek

Mining provided reason to believe that the potential recovery value of the metals located on the Arizona Property could be significant,

but only actual mining and processing will determine the ultimate value that may be realized from this property holding.

we are not currently conducting mining operations, we are exploring strategic options to partner or sell our interest in the Arizona

Property, while we focus on our emerging GTL technology sales and marketing efforts.

were originally incorporated as Dynalyst Manufacturing Corporation (“

Dynalyst ”) under the laws of the State

of Texas on March 13, 2002.

In connection with the merger with Universal Media Corporation (“

UMC ”), a Nevada

corporation, on August 17, 2009, we changed our name to UMC.

The transaction was accounted for as a reverse merger, and UMC was

the acquiring company on the basis that UMC’s senior management became the entire senior management of the merged entity

and there was a change of control of Dynalyst.

The transaction was accounted for as recapitalization of Dynalyst’s capital

In connection with the merger, Dynalyst issued 57,500,000 restricted equity securities to the shareholders of UMC in

exchange for 100% of UMC.

March 23, 2011, Universal Media Corporation approved and filed with the Texas Secretary of State an amendment to our Certificate

to change our name to UMED Holdings, Inc.

June 22, 2017, in recognition of our primary operational activity, we approved an amendment to our Certificate to change our name

to “Greenway Technologies Inc.”

We filed a certificate of amendment with the Texas Secretary of State to affect that

name change on June 23, 2017.

EFT (“Flare Buster”);

Primus GE and GasTechno (“Methanol in a

We were not a direct part of this study, as we had not received 3rd party certification of our proprietary technology as

of the date of this report.

the GGFRP report mentioned us as follows, “Greenway Technologies announced on July 23 that Mabert LLC, a major investor in Greenway,

acquired the whole INFRA plant including an operating license agreement.

The purpose of the acquisition is the incorporation and commercial

demonstration of Greenway’s ‘G-Reformer’ technology.

We will see whether the new team will be able to make the plant

with the new reformer operational.

(Globe Newswire, Fort Worth, Texas, Aug 31, 2019).”

December 2010, UMED acquired the rights to approximately 1,440 acres of placer mining claims located on Bureau of Land Management (“ BLM ”)

land in Mohave County, Arizona (such property, the “ Arizona Property ”), in an Assignment Agreement dated December

27, 2010, and filed as Exhibit 10.31 to this Form 10-K, between Melek Mining, Inc., 4HM Partners, Inc.

and the Company, in exchange for

5,066,000 shares of our common stock.

Early indications from samples taken and processed by Melek Mining provided reason to believe that

the potential recovery value of the metals located on the Arizona Property could be significant, but only actual mining and processing

will determine the ultimate value that may be realized from this property holding.

While we are not currently conducting mining operations,

we are exploring strategic options to partner or sell our interest in the Arizona Property, while we focus on our emerging GTL technology

sales and marketing efforts.

were originally incorporated as Dynalyst Manufacturing Corporation (“ Dynalyst ”) under the laws of the State of Texas

on March 13, 2002.

In connection with the merger with Universal Media Corporation (“ UMC ”), a Nevada corporation, on

August 17, 2009, we changed our name to UMC.

The transaction was accounted for as a reverse merger, and UMC was the acquiring company

on the basis that UMC’s senior management became the entire senior management of the merged entity and there was a change of control

The transaction was accounted for as recapitalization of Dynalyst’s capital structure.

In connection with the merger,

Dynalyst issued 57,500,000 restricted equity securities to the shareholders of UMC in exchange for 100% of UMC.

March 23, 2011, Universal Media Corporation approved and filed with the Texas Secretary of State an amendment to our Certificate to change

our name to UMED Holdings, Inc.

June 22, 2017, in recognition of our primary operational activity, we approved an amendment to our Certificate to change our name to

“Greenway Technologies Inc.” We filed a certificate of amendment with the Texas Secretary of State to affect that name change

on June 23, 2017.

June 26, 2019, we held our annual shareholders meeting in Arlington, Texas.

There were seven proposals presented for vote by our

shareholders (the “

Shareholders ”), including to approve the Company’s slate of directors, to amend our

Certificate, to amend our bylaws, and to ratify our then current independent public accounting audit firm.

We disclosed the results

of the vote of the Shareholders on our Current Report Form 8-K, filed with the SEC on July 2, 2019, which is incorporated herein

by reference.

On August 1, 2019, we filed a Current Report on Form 8-K/A, noting that due to a potential tabulation error, we

were reviewing the results for Proposal 2, which was to amend our Company’s Certificate to increase the authorized shares

of capital stock of the Company and Proposal 3, which was to amend the Company’s Certificate to permit the vote of the holders

of the majority of shares entitled to vote on and represented in person or by proxy at a meeting of the Shareholders at which

a quorum is present, to be the action of the Shareholders, including for “fundamental actions,”

as such term is defined

by the Texas Business Organizations Code (the “

TBOC ”) .

To resolve any such potential errors, we called a special

meeting of the Shareholders to be held December 11, 2019, in Arlington, Texas.

There were seven proposals presented for vote by our shareholders

(the “ Shareholders ”), including to approve the Company’s slate of directors, to amend our Certificate, to amend

our bylaws, and to ratify our then current independent public accounting audit firm.

We disclosed the results of the vote of the Shareholders

on our Current Report Form 8-K, filed with the SEC on July 2, 2019, which is incorporated herein by reference.

On August 1, 2019, we

filed a Current Report on Form 8-K/A, noting that due to a potential tabulation error, we were reviewing the results for Proposal 2,

which was to amend our Company’s Certificate to increase the authorized shares of capital stock of the Company and Proposal 3,

which was to amend the Company’s Certificate to permit the vote of the holders of the majority of shares entitled to vote on and

represented in person or by proxy at a meeting of the Shareholders at which a quorum is present, to be the action of the Shareholders,

including for “fundamental actions,” as such term is defined by the Texas Business Organizations Code (the “ TBOC ”)

To resolve any such potential errors, we called a special meeting of the Shareholders to be held December 11, 2019, in Arlington, Texas.

December 11, 2019, we held a special meeting of the Shareholders to approve four proposals.

In connection with these four proposals,

we filed a Certificate of Amendment to the Certificate with the Secretary of State of the State of Texas, which is attached as

Exhibit 3.1 to our Company’s Current Report on Form 8-K filed with the SEC on December 16, 2019, and incorporated herein

by reference.

we filed a Certificate of Amendment to the Certificate with the Secretary of State of the State of Texas, which is attached as Exhibit

3.9 to our Company’s Current Report on Form 8-K filed with the SEC on December 16, 2019, and incorporated herein by reference.

All four proposals passed overwhelmingly.

For more information regarding these proposals, please see our Definitive

Proxy Statement on Schedule 14A filed with the SEC on November 19, 2019 and incorporated herein by reference.

of the filing date of this Form 10-K, we have five (3) full-time employees.

Certain of these employees receive no compensation

or compensation is deferred on a periodic basis by mutual agreement.

None of our employees are covered by collective bargaining

We consider our employee relations to be satisfactory.

accompanying consolidated financial statements to this Form 10-K (our “

Financial Statements ”) have been prepared

on a going concern basis, which contemplates realization of assets and the satisfaction of liabilities in the normal course of

For more information regarding these proposals, please see our Definitive Proxy Statement on

Schedule 14A filed with the SEC on November 19, 2019 and incorporated herein by reference.

of the filing date of this Form 10-K, we have two (2) full-time employees.

Certain of these employees receive no compensation or compensation

is deferred on a periodic basis by mutual agreement.

None of our employees are covered by collective bargaining agreements.

our employee relations to be satisfactory.

accompanying consolidated financial statements to this Form 10-K (our “ Financial Statements ”) have been prepared on

a going concern basis, which contemplates realization of assets and the satisfaction of liabilities in the normal course of business.

As of December 31, 2021, we have an accumulated deficit of $34,766,177.

For the year ended December 31, 2020, we incurred

a net loss of $2,541,972 and used $686,032 in net cash for operating activities.

The ability of the Company to continue as a going

concern is in doubt and dependent upon achieving a profitable level of operations or on the ability of the Company to obtain necessary

financing to fund ongoing operations.

While the Company is attempting to commence revenue generating operations and thereby generate

sustainable revenues, the Company’s current cash position is not sufficient to support its ongoing daily operations and

requires the Company to raise addition capital through debt and/or equity sources.

our ability to continue as a going concern is therefore in doubt and dependent upon achieving a profitable level of operations

or on our ability to obtain necessary financing to fund ongoing operations.

Management intends to raise additional funds by way

of public or private offerings, or both.

Management believes that the actions presently being taken to implement our business

plan to generate revenues will provide us the opportunity to continue as a going concern.

For the year ended December 31, 2021, we incurred a net loss

of $1,744,376 and used $791,906 in net cash for operating activities.

The ability of the Company to continue as a going concern is in

doubt and dependent upon achieving a profitable level of operations or on the ability of the Company to obtain necessary financing to

fund ongoing operations.

While the Company is attempting to commence revenue generating operations and thereby generate sustainable revenues,

the Company’s current cash position is not sufficient to support its ongoing daily operations and requires the Company to raise

addition capital through debt and/or equity sources.

our ability to continue as a going concern is therefore in doubt and dependent upon achieving a profitable level of operations or on

our ability to obtain necessary financing to fund ongoing operations.

Management intends to raise additional funds by way of public or

private offerings, or both.

Management believes that the actions presently being taken to implement our business plan to generate revenues

will provide us the opportunity to continue as a going concern.

we are attempting to commence operations and generate revenues, our cash position may not be enough to support our daily operations.

Management intends to raise additional funds by way of a public or private offering.

Management believes that the actions presently

being taken to further implement our business plan and generate revenues provide the opportunity for us to continue as a going

While management believes in the viability of our strategy to generate revenues and in our ability to raise additional

funds, there can be no assurances to that effect.

Our ability to continue as a going concern is dependent upon our ability to

further implement our business plan and generate revenues.

Management believes that the actions presently being

taken to further implement our business plan and generate revenues provide the opportunity for us to continue as a going concern.

management believes in the viability of our strategy to generate revenues and in our ability to raise additional funds, there can be

no assurances to that effect.

Our ability to continue as a going concern is dependent upon our ability to further implement our business

plan and generate revenues.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business