What changed in this filing

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Item 1. Business

2021-08-12 compared with 2020-08-13 · 26 added, 24 removed, 19 unchanged (72% of the section changed)

Business Development

Risk Industries, Inc.

(GRI or the Company) was incorporated in 1967 in Colorado.

The Company is presently engaged in the design,

manufacture, and sale of custom computer keyboards, push button switches, burglar alarm components and systems, pool alarms, EZ

Duct wire covers, water sensors and wire and cable installation tools.

The Company is presently engaged in the design, manufacture,

and sale of custom computer keyboards, proximity switches, security alarm components and systems, pool access alarms, EZ Duct wire covers,

water sensors, electronic switching devices, high security switches and wire and cable installation tools.

Market, and Distribution

Company designs, manufactures, and sells computer keyboards, push-button switches, burglar alarm components and systems, pool

alarms, water sensors, and wire and cable installation tools.

The Security sales division, which concentrates on selling products

for security purposes, comprises of approximately 95 percent of net revenues and are sold through distributors and alarm dealers/installers.

Company designs, manufactures, and sells computer keyboards, proximity switches, security alarm components and systems, pool access alarms,

water sensors, electronic switching devices, high security switches, and wire and cable installation tools.

The Security sales division,

which concentrates on selling products for security purposes, comprises of approximately 95 percent of net revenues and are sold through

distributors and alarm dealers/installers.

security segment has approximately 1,000 current customers.

3 unchanged sentences

Anixter, Inc.

accounts for another 11.9 percent

of Company sales.

accounts for another 18.2 percent of the security

segment of the Company sales.

Loss of these distributors would be significant to the Company.

However, both companies have purchased from

the Company for many years and are expected to continue.

However, both companies have purchased

from the Company for many years and are expected to continue.

Also, the Company has a written agreement with Ademco.

This agreement

was signed in February 2011 and was initiated by the customer.

The contents of the agreement include product terms, purchasing,

payment terms, term and termination, product marketing, representations and warranties, product support, mutual confidentiality,

indemnification and insurance, and general provisions.

keyboard segment has approximately 700 customers.

Keyboard products are sold to original equipment manufacturers to their specifications

and to distributors of off-the-shelf keyboards of proprietary design.

Company has intense competition in the keyboard and security/burglar alarm lines.

This agreement was

signed in February 2011 and was initiated by the customer.

The contents of the agreement include product terms, purchasing, payment terms,

term and termination, product marketing, representations and warranties, product support, mutual confidentiality, indemnification and

insurance, and general provisions.

keyboard and proximity switch segment has approximately 700 customers.

These products are primarily sold to original equipment manufacturers

to their specifications and to distributors of off-the-shelf keyboards of proprietary design.

Company has intense competition in the keyboard/proximity and security/burglar alarm lines.

security/burglar alarm segment has approximately seven major competitors.

The Company competes well based on price, product design,

quality, customization and having products made in the USA.

competitors in the keyboard segment are larger companies with automated production facilities.

The Company competes well based on price, product design, quality,

customization and having products made in the USA.

competitors in the keyboard/proximity segment are larger companies with automated production facilities.

GRI has emphasized small custom

5 unchanged sentences

Costs associated with the development of new products are expensed as incurred.

The Company also does

R&D for itself to help in the development of new products.

has approximately 195 employees.

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