What changed in this filing

/stocks — the workspaceLOADING

Item 9A. Controls and Procedures

2026-08-07 compared with 2025-08-12 · 113 added, 141 removed, 176 unchanged (59% of the section changed)

and Procedures

Controls and Procedures

of disclosure controls and procedures:

on their evaluation of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as

of April 30, 2025 our president and chief executive officer (also working as our chief financial officer) has concluded that our disclosure

controls and procedures were effective such that information required to be disclosed by us in the reports that we file or submit under

the Exchange Act is (i) recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange

Commission’s rules and (ii) accumulated and communicated to our management, including our chief executive officer (also working

as our chief financial officer), as appropriate to allow timely decisions regarding disclosure.

A control system cannot provide absolute

assurance, however, that the objectives of the control systems are met, and no evaluation of controls can provide absolute assurance

that all control issues and instances of fraud, if any, within a company have been detected.

control over financial reporting :

Company’s management is responsible for establishing and maintaining adequate internal controls over financial reporting for the

Due to limited resources, Management conducted an evaluation of internal controls based on criteria established in Internal

Control - Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”).

the year ended April 30, 2024, Management’s evaluation determined that our internal control over financial reporting was ineffective

due to the material weakness discussed below.

assessment identified the following material weakness in internal control over financial reporting for the year ended April 30, 2024:

small size of our Company limits our ability to achieve the desired level of separation of duties for proper internal controls and

financial reporting, particularly as it relates to financial reporting to assure material disclosures or implementation of newly

issued accounting standards are included.

A secondary review of annual and quarterly filings does occur with an outside party.

to the departure of the Controller, the current CEO and CFO roles are being fulfilled by the same individual.

We do not have an audit

We do not believe we have met the full requirement for separation of duties for financial reporting purposes.

following steps were taken to mitigate the above material weakness during the year ended April 30, 2025:

The Company hired

a part-time controller in March 2023;and in March 2024 this controller became a full-time position with the Company.

This hire has

enabled more separation of duties within the accounting department and provided an opportunity for a second internal review of financial

We continue to have our quarterly

and annual financial statements reviewed by a third-party CPA.

This third party ensures we have fulfilled our material disclosures

and that newly issued accounting standards have been reviewed and addressed if necessary.

We have increased our knowledge

training, and documentation around internal controls over financial reporting and will continue to do so.

material weakness in internal control over financial reporting is defined as a deficiency, or a combination of deficiencies, in internal

control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Company’s annual

or interim financial statements will not be prevented or detected on a timely basis.

A significant deficiency is a deficiency, or a combination

of deficiencies, in internal control over financial reporting that is less severe than a material weakness, yet important enough to merit

attention by those responsible for oversight of our financial reporting.

believes that the steps the Company has taken to mitigate the 2024 material weakness have improved our internal controls and believes

that the material weakness no longer exists as of April 30, 2025.

of the mitigation of the material weakness in internal control over financial reporting described above, the Company’s management

has concluded that, as of April 30, 2025, the Company’s internal control over financial reporting was effective based on the criteria

in Internal Control - Integrated Framework issued by the COSO.

will continue to follow the standards for the Public Company Accounting Oversight Board (United States) for internal control over financial

reporting to include procedures that:

Pertain to the

maintenance of records in reasonable detail that fairly reflect the transactions and dispositions of the Company’s assets;

Provide reasonable assurance

that transactions are recorded as necessary to permit preparation of the financial statements in accordance with generally accepted

accounting principles, and that receipts and expenditures are being made only in accordance with authorizations of management and

the Board of Directors;

Provide reasonable assurance

regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Company’s assets that could

have a material effect on the financial statements.

annual report does not include an attestation report of the Corporation’s registered public accounting firm regarding internal

control over financial reporting.

Management’s report was not subject to attestation by the Corporation’s independent registered

public accounting firm pursuant to Section 404(c) of the Sarbanes-Oxley Act of 2002, as amended, that permit the Corporation to provide

only the management’s report in this annual report.

Other Information

Directors and Executive Officers and Corporate Governance

Company’s management, with the participation of the Company’s President and Chief Executive Officer, has evaluated the effectiveness

of the Company’s disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange

Act) as of April 30, 2026.

Based on such evaluation, the Company’s President and Chief Executive Officer has concluded that, as

of April 30, 2026, the Company’s disclosure controls and procedures are effective to ensure that information required to be disclosed

by the Company in the reports we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time

periods specified by the SEC’s rules and forms and are designed to ensure that information required to be disclosed by the Company

in the reports we file or submit under the Exchange Act is accumulated and communicated to the Company’s management, including

the Company’s President and Chief Executive Officer, as appropriate to allow timely decisions regarding required disclosure.

in Internal Control Over Financial Reporting

Company’s management, with the participation of the Company’s President and Chief Executive Officer, has evaluated changes

in internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that occurred

during the quarter ended April 30, 2026, and have concluded that no change has materially affected, or is reasonably likely to materially

affect, the Company’s internal control over financial reporting.

Management ’ s

Annual Report on Internal Control Over Financial Reporting

Company’s management is responsible for establishing and maintaining an adequate system of internal control over financial reporting,

as such term is defined in Exchange Act Rules 13a-15(f) and 15d-15(f).

Our internal control system was designed to provide reasonable

assurance regarding the reliability of financial reporting and the preparation of Consolidated Financial Statements for external purposes

in accordance with U.S.

Because of inherent limitations, internal control over financial reporting may not prevent or detect misstatements.

Also, projections of any evaluation of effectiveness in future periods are subject to the risk that controls may become inadequate due

to changes in conditions, or that the degree of compliance with policies and procedures may deteriorate.

Company’s management, including the Company’s President and Chief Executive Officer, has conducted an evaluation of the effectiveness

of our internal control over financial reporting as of April 30, 2026, based on the 2013 framework in Internal Control-Integrated Framework

issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”).

The COSO framework summarizes each

of the components of a company’s internal control system, including (i) the control environment, (ii) risk assessment, (iii) control

activities, (iv) information and communication, and (v) monitoring.

Based on this evaluation, the Company’s management concluded

that our internal control over financial reporting was effective as of April 30, 2026.

and Executive Officers and Corporate Governance

& b) Identification of Directors and Executive Officers

1 unchanged sentence

following information as of April 30, 2026 is furnished with respect to each director and executive officer:

Occupation or Employment

or Officer Since

of the Board, Chief Executive Officer, and Chief Financial Officer

Secretary/Treasurer

retired GRI plant manager

FirsTier Banks

Stock Transfer Agent at GRI

retired business owner

Principal Occupation or Employment

Director or Officer Since

Chairman of the Board, Chief Executive Officer, and Chief Financial Officer

August 8, 1999

Vice President

December 13, 2023

Donna Debowey

Director, retired GRI plant manager

July 12, 2005

Director, Stock Transfer Agent at GRI

March 15, 2013

Jerry Knutsen

Director, retired business owner

August 29, 2016

Wiens, a member of our Board of Directors, passed away on March 8, 2026.

Wiens had served as a director of the Company since 2007.

The Board has not yet appointed a successor to fill the resulting vacancy.

Following Mr.

Wiens’ death, the Board consists of four

directors, two of whom the Board has determined to be independent under OTC Markets listing standards.

following director compensation table is furnished with respect to each director that served during the year ended April 30, 2026

Director’s Fees Paid

Option Awards

Non-equity incentive plan compen-sation

Non-qualified deferred compensation earnings

incentive plan

compen-sation

Non-qualified

Stephanie Risk-McElroy (1)

Sharon Westby (1)

Donna Debowey (2)

27 unchanged sentences

And as President of the Company, she oversees all of the day-to-day operations as well.

McElroy , the Corporate Secretary, started his career by working on the family farm and ranch.

In 1993 he attended college in McCook,

NE for Criminal Justice and worked at the local Radio Shack, moving up to being responsible for opening/closing duties.

After college

he moved back to the Sidney, NE area and started working at Wheelers/Country General as a tire tech and soon was moved up to opening/closing

He then became employed as a Jailer with the Cheyenne County Sheriff’s Office and became a Deputy a few years later.

went back to college in Sidney and studied Information Technology (IT) while working for the Cheyenne County Community Center.

went to a local parts store as a counter man then moved up to opening/closing and order entry.

He was transferred to Chappel, NE store

where he became Manager until a position opened at GRI as the Purchasing Manager and worked his way up to Vice President of Operations.

McElroy , Vice President and the Corporate Secretary, started his career by working on the family farm and ranch.

In 1993 he attended

college in McCook, NE for Criminal Justice and worked at the local Radio Shack, moving up to being responsible for opening/closing duties.

After college he moved back to the Sidney, NE area and started working at Wheelers/Country General as a tire tech and soon was moved

up to opening/closing duties.

He then became employed as a Jailer with the Cheyenne County Sheriff’s Office and became a Deputy

a few years later.

He went back to college in Sidney and studied Information Technology (IT) while working for the Cheyenne County Community

He then went to a local parts store as a counter man then moved up to opening/closing and order entry.

He was transferred to

Chappel, NE store where he became Manager until a position opened at GRI as the Purchasing Manager and worked his way up to Vice President

of Operations.

Debowey , Director, worked in various retail stores and restaurants until she started at GRI in 1968.

7 unchanged sentences

she helped to build.

Wiens , Director, is an entrepreneur with many business interests.

He is a director and principal shareholder of FirsTier Banks

Nebraska/Wyoming, director of FirsTier II BanCorporation (which owns FirsTier Bank Nebraska/Wyoming), Chairman of Rite-A-Way Industries

(lodging and hospitality industries), real estate investments, and ranching and livestock.

Wiens took his place on the Board of Directors when his predecessor Mike Nelson, (who is affiliated with Mr.

Wiens’ financial institutions)

retired from the Board to take another position within the banks and moved away.

Joel’s knowledge and experience in business and

industry span 60+ years and serves as a valuable asset to GRI.

Risk, Director, attended Wayne State College, in Wayne, Nebraska.

19 unchanged sentences

Foundation Board of Directors and Kimball Health Services Board of Trustees.

Involvement in Certain Legal Proceedings

(f) Involvement in Certain Legal Proceedings

Promoters and Control Persons

11 unchanged sentences

the Company must approve all material business.

The Company also has checks and balances to make sure that there is not any fraud or

illegal activities taking place.

The Company also has checks and balances to make sure no fraud or illegal activities

and Compensation Committees

3 unchanged sentences

functions of such committees.

Board of Directors also is of the view that it is appropriate for us not to have a standing nominating committee because our Board of

Directors has performed and will perform adequately the functions of a nominating committee.

Our Board of Directors has not adopted a

charter for the nomination committee.

There have not been any defined policy or procedure requirements for stockholders to submit recommendations

or nomination for directors.

Our Board of Directors does not believe that a defined policy with regard to the consideration of candidates

recommended by stockholders is necessary at this time because we believe that, given the early stages of our development, a specific

nominating policy would be premature and of little assistance until our business operations are at a more advanced level.

Board of Directors also believes it is appropriate for us not to have a standing nominating committee because our Board has performed

and will continue to perform the functions of a nominating committee adequately.

Our Board of Directors has not adopted a charter for

the nomination committee.

There have been no defined policies or procedures requiring stockholders to submit recommendations or nominations

for directors.

Our Board of Directors does not believe that a defined policy with regard to the consideration of candidates recommended

by stockholders is necessary at this time because we believe that, given the early stages of our development, a specific nominating policy

would be premature and of little assistance until our business operations are at a more advanced level.

do not have a standing audit committee at the present time.

5 unchanged sentences

directors and filed with the minutes of the proceedings of the Board of Directors.

Our Company currently does not have any committees.

Executive Compensation

Our Company currently has no committees.

following table sets forth certain information regarding the compensation paid to or accrued by the Company to executive officers for

services rendered in all capacities during each of the Company’s fiscal years ended April 30, 2026 and 2025.

Name and principal position

Option Awards

Non-Equity Incentive Plan Compen-sation

Change in Pension Value and Non-qualified Deferred Compen-sation Earnings

All Other Compen-sation

Bonita Risk, Director,

Shareholder, Employee

Incentive Plan

Compen-sation

Non-qualified

Bonita Risk, Director, Shareholder, Employee

Stephanie Risk-McElroy,

CEO/CFO, Director, Shareholder

Scott McMurray,

Director of Sales

Scott McMurray, Director of Sales

Risk, Stephanie Risk-McElroy, and Scott McMurray receive a base salary and bonus/commission based on a percentage of sales for the year.

were no other officers compensated in excess of $100,000 for the fiscal years ended April 30, 2026 and 2025.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

following table sets forth certain information regarding our Common Stock beneficially owned as of April 30, 2026, for (i) each stockholder

14 unchanged sentences

Name and Address of Beneficial Owner (1)

Number of Shares of Common Stock (2)

% of Class of Stock Outstanding (3)

Number of Shares

of Common Stock (2)

% of Class of

Stock Outstanding (3)

Executive Officers and Directors:

5 unchanged sentences

All Officers and Directors as a group

Unless otherwise indicated, the address of the named beneficial

owner is George Risk Industries, Inc., 802 S.

Principal Stockholders

Poplar Point Capital Management LLC

330 Primrose Road

Burlingame, CA 94010

otherwise indicated, the address of the named beneficial owner is George Risk Industries,

Elm St., Kimball, NE 69145.

Security ownership information for named beneficial owners

(other than executive officers and directors of the Company) is taken from statements filed with the Securities and Exchange Commission

ownership information for named beneficial owners (other than executive officers and directors

of the Company) is taken from statements filed with the Securities and Exchange Commission

pursuant to information made known by the Company and from the Company’s transfer agent.

Based on the net shares outstanding as of April 30, 2025.

consists of Common Shares issued and outstanding (8,502,881) less treasury shares (3,610,451).

on the net shares outstanding as of April 30, 2026.

This consists of Common Shares issued

and outstanding (8,502,881) less treasury shares (3,613,827).

are not aware of any arrangements, including any pledge by any person of our securities, the operation of which may result in a change

in control of the Company.

Certain Relationships and Related Transactions, and Director Independence

each of three years ended April 30, 2025, 2024, and 2023, the Company executed transactions with related entities and individuals.

of the transactions was in terms at least as favorable as could be obtained from unrelated third parties.

Relationships and Related Transactions, and Director Independence

each of the three years ended April 30, 2026, 2025, and 2024, the Company executed transactions with related entities and individuals.

Each of the transactions was on terms at least as favorable as could be obtained from unrelated third parties.

Related Party

3 unchanged sentences

Joel Wiens, Director

Principal Accountant Fees and Services

Accountant Fees and Services

each of the last two fiscal years, the Company incurred aggregate fees and expenses for professional services rendered by our principal

5 unchanged sentences

Carey Schroeder, CPA

Audit-Related Fees

2) Audit-Related

Company incurred aggregate fees and expenses for professional services rendered by our principal accountants for the audit of the Company’s

2 unchanged sentences

Haynie & Company

audit of the company’s 401K was no longer required.

An audit of the company’s 401K was no longer required.

Haynie & Company

An audit of the company’s 401K was no longer required.

Company incurred aggregate fees or expenses for professional services rendered by tax accountants for tax compliance, tax advice, and

4 unchanged sentences

Tax Resources Group, Inc.

All Other Fees

Company incurred aggregate fees and expenses for professional services rendered by our principal accountants for restatement of some

1 unchanged sentence

The amounts are listed below:

The Board of Directors considered whether, and determined that,

the auditor’s provisions of non-audit services were compatible with maintaining the auditor’s independence.

All the services

described above were approved by the Board of Directors pursuant to its policies and procedures.

15 Exhibits and Financial Statement Schedules

Board of Directors considered whether, and determined that, the auditor’s provisions

of non-audit services were compatible with maintaining the auditor’s independence.

All the services described above were approved by the Board of Directors pursuant to its

policies and procedures.

and Financial Statement Schedules

of Incorporation—Filed as Exhibit 5 to the Registrant’s Form 10–K for the fiscal year ended April 10, 1970, and

16 unchanged sentences

Page Interactive Data File (embedded within the Inline XBRL document)

________________________________________

Portions of this exhibit have been omitted pursuant to a request for confidential treatment under Rule 24b-2 under the Securities Exchange

8 unchanged sentences

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 9A. Controls and Procedures