What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2024-07-31 compared with 2023-07-31 · 34 added, 15 removed, 31 unchanged (61% 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, 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.

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

Market, and Distribution

12 unchanged sentences

The 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.

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.

However, both companies have purchased products

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

The Company also 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 and proximity switch segment has approximately 300 customers.

9 unchanged sentences

and Development

Company performs research and development for its customers when needed and as requested.

Company conducts research and development for its customers when needed and as requested.

Costs in connection with such product development

1 unchanged sentence

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.

The Company’s

internal research and development activities support the development of new products.

has approximately 185 employees.

Cybersecurity

believe a proactive approach to cybersecurity risks and threats is essential to achieving our business objectives and protecting our

We therefore have processes for assessing, identifying, and managing risks from cybersecurity threats, that are conducted both

in-house and with the aid of a third-party IT service, Five Nines, and have integrated these processes into our overall risk management

We continually monitor our safeguards and provide our employees at all levels with the tools and training on these safeguards.

Five Nine’s security specialists monitor and aid with industry best practices and compliance and assist us in implementing our

cybersecurity procedures.

Additionally, they routinely assess risks from cybersecurity threats, including but not limited to changes

to firmware, disruption/denial of service and any potential unauthorized occurrence on or conducted through our information systems that

may result in adverse effects on the confidentiality, integrity, or availability of our information systems or any information residing

We have established policies for tracking, managing, and safely disposing of physical hardware that may contain confidential

We intend to continually evaluate best practices and methods, including continued cyber defense systems and training programs

to protect our business from a wide range of potential threats and the ever-evolving cybersecurity risks.

company IT Manager continually monitors company computers and information systems for potential malware, ransomware and other malicious

The IT Manager works directly with our third-party IT service, Five Nines, and periodically updates the CEO on our cybersecurity

and information security policies, training, new concerns, and plans.

The CEO reports, as and if needed, directly to the audit committee

and board of directors.

The board of directors and audit committee will be apprised of any cybersecurity incidents deemed to have a moderate

or higher business impact and will be provided with updates as necessary.

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