+Added: and Procedures
Controls and Procedures
−Removed: management, under the supervision and with the participation of our chief executive officer (also working as our chief financial officer),
−Removed: evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rules 13a-15(e) and
−Removed: 15d-15(e) under the Exchange Act) as of January 31, 2025.
−Removed: Based on that evaluation, management concluded that the disclosure controls
−Removed: and procedures employed at the Company were not effective to provide reasonable assurance that the information required to be disclosed
−Removed: by us in the reports that we file or submit under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported
−Removed: within the time periods specified in SEC rules and forms.
−Removed: our annual report filed on Report 10-K for the year ended April 30, 2024, management identified the following material weakness in our
−Removed: internal control over financial reporting:
−Removed: small size of our Company limits our ability to achieve the desired level of separation of duties for proper internal controls and
−Removed: financial reporting, particularly as it relates to financial reporting to ensure material disclosures or implementation of newly
−Removed: issued accounting standards are included.
−Removed: We have hired a Controller, and a secondary review of annual and quarterly filings does
−Removed: occur with an outside CPA.
−Removed: However, the current CEO and CFO roles are being fulfilled by the same individual and we do not have an
−Removed: audit committee.
−Removed: We do not believe we have met the full requirement for separation of duties for financial reporting purposes.
−Removed: the material weaknesses in financial reporting noted above, we believe that our financial statements included in this report fairly present
−Removed: our financial position, results of operations and cash flows as of and for the periods presented in all material respects.
−Removed: are committed to the establishment of effective internal controls over financial reporting and will place emphasis on quarterly and year-end
−Removed: closing procedures, timely documentation, and internal review of accounting and financial reporting consequences of material contracts
−Removed: and agreements, and enhanced review of all schedules and account analyses by experienced accounting department personnel or independent
−Removed: will continue to follow the standards for the Public Company Accounting Oversight Board (United States) for internal control over financial
−Removed: reporting to include procedures that:
−Removed: to the maintenance of records in reasonable detail that fairly reflect the transactions and dispositions of the Company’s assets;
−Removed: reasonable assurance that transactions are recorded as necessary to permit preparation of the financial statements in accordance
−Removed: with generally accepted accounting principles, and that receipts and expenditures are being made only in accordance with authorizations
−Removed: of management and the Board of Directors;
−Removed: reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Company’s
−Removed: assets that could have a material effect on the financial statements.
+Added: Company’s management, with the participation of the Company’s Chief Executive Officer (also serving as the Chief Financial
+Added: Officer), has evaluated the effectiveness of the Company’s disclosure controls and procedures (as such term is defined in Rule
+Added: 13a-15(e) and 15d-15(e) under the Exchange Act) as of July 31, 2025.
+Added: Based on such evaluation, the Company’s Chief Executive Officer
+Added: has concluded that, as of July 31, 2025, the Company’s disclosure controls and procedures are effective to ensure that information
+Added: required to be disclosed by the Company in the reports we file or submit under the Exchange Act is recorded, processed, summarized and
+Added: reported within the time periods specified by the SEC’s rules and forms and are designed to ensure that information required to
+Added: be disclosed by the Company in the reports we file or submit under the Exchange Act is accumulated and communicated to the Company’s
+Added: management, including the Company’s Chief Executive Officer, as appropriate to allow timely decisions regarding required disclosure.
in Internal Control Over Financial Reporting
−Removed: than those mentioned above, there were no changes in our internal control over financial reporting during the fiscal quarter ended January
−Removed: 31, 2025, which have materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.
+Added: change in our internal control over financial reporting occurred during the fiscal quarter ended July 31, 2025, that has materially affected,
+Added: or is reasonably likely to materially affect, our internal control over financial reporting.
RISK INDUSTRIES, INC.
OTHER INFORMATION
−Removed: Legal Proceedings
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.