What changed in this filing

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Item 9A. Controls and Procedures

2025-08-12 compared with 2024-07-31 · 65 added, 61 removed, 252 unchanged (33% of the section changed)

and Procedures

Controls and Procedures

of disclosure controls and procedures:

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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 are not 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

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

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issued accounting standards are included.

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

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

do not have an audit committee.

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

reporting purposes.

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:

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

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

of financial information.

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.

have begun increasing our knowledge and training around internal controls over financial reporting and will continue to do so.

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.

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

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attention by those responsible for oversight of our financial reporting.

believes that the steps the Company has taken to mitigate the 2023 material weakness have improved our internal controls;

to our size the CEO and the CFO roles continue to be filled by the same individual, so we have not achieved complete segregation of duties,

and we still do not have an audit committee.

As such, Management is optimistic in our ability to downgrade the material weakness to a significate

deficiency in a future period.

of the material weakness and significant deficiency in internal control over financial reporting described above, the Company’s

management has concluded that, as of April 30, 2024 and 2023, the Company’s internal control over financial reporting was not effective

based on the criteria in Internal Control - Integrated Framework issued by the COSO.

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:

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

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;

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.

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

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only the management’s report in this annual report.

and Executive Officers and Corporate Governance

Other Information

Directors and Executive Officers and Corporate Governance

& b) Identification of Directors and Executive Officers

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

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

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.

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.

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

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Our Company currently does not have any committees.

Executive Compensation

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

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were no other officers compensated in excess of $100,000 for the fiscal years ended April 30, 2025 and 2024.

Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security 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, 2025, for (i) each stockholder

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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:

Bonita Risk – Director

The above director has beneficial ownership over the Kenneth Risk Trust that

owns 2,187,056 shares, Bonita Risk Family Irrevocable Trust that owns 732,470 shares, and 27,602 shares owned personally.

result, combined, they have voting and shared dispositive control.

The above director has beneficial ownership over the Kenneth Risk Trust that owns 2,187,056 shares, Bonita Risk Family Irrevocable Trust that owns 732,470 shares, and 27,602 shares owned personally.

As a result, combined, they have voting and shared dispositive control.

Risk-McElroy Chairman, CEO, & CFO

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All Officers and Directors as a group

otherwise indicated, the address of the named beneficial owner is George Risk Industries, Inc., 802 S.

Unless otherwise indicated, the address of the named beneficial

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

Elm St., Kimball, NE 69145.

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.

on the net shares outstanding as of April 30, 2024.

This consists of Common Shares issued and outstanding (8,502,881)

less treasury shares (3,606,151).

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

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).

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.

Relationships and Related Transactions, and Director Independence

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.

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Joel Wiens, Director

Accountant Fees and Services

Principal 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

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Carey Schroeder, CPA

2) Audit-Related

Audit-Related Fees

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

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Haynie & Company

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

Haynie & Company

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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

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The amounts are listed below:

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

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

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

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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

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to be signed on its behalf by the undersigned, thereunto duly authorized.

/s/ STEPHANIE

President and Chairman of the Board

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registrant and in the capacities and on the dates indicated.

/s/ STEPHANIE

President and Chairman of the Board

DONNA DEBOWEY

JERRY KNUTSEN

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