RSKIA Amends 10-K for Audit Report Date Correction; Unchanged Financials

TL;DR

**RSKIA's 10-K/A is a non-event, merely fixing an audit date, so don't expect any market-moving news from this administrative update.**

AI Summary

GEORGE RISK INDUSTRIES, INC. (RSKIA) filed a 10-K/A Amendment No. 1 on August 22, 2025, solely to correct the date of the Report of Independent Registered Accounting Firm in its Annual Report for the fiscal year ended April 30, 2025, which was originally filed on August 12, 2025. The amendment explicitly states that no other changes were made to the original filing, and it does not reflect events subsequent to August 12, 2025. The company reported an aggregate market value of voting stock held by non-affiliates of $29,340,000 as of October 31, 2024, with 4,891,830 shares of common stock outstanding as of August 22, 2025. Haynie & Company, the independent auditor since 1992, issued an unqualified opinion on the financial statements for the two-year period ended April 30, 2025, confirming fair presentation in all material respects. Critical audit matters highlighted include inventory valuation, specifically the complex calculations for direct labor and manufacturing overhead, and the valuation of investments, particularly Level 2 securities and the assessment of other-than-temporary impairment for securities in unrealized loss positions. The filing also includes new Section 302 certifications from Stephanie M. Risk-McElroy, President and Chairman of the Board.

Why It Matters

This 10-K/A filing is significant for investors as it confirms the integrity of the financial statements for GEORGE RISK INDUSTRIES, INC. (RSKIA) for the fiscal year ended April 30, 2025, despite a minor administrative correction to the audit report date. The explicit statement that no other information was modified reassures investors that the previously reported financial performance, including revenue and net income, remains accurate. The auditor's identification of inventory valuation and investment valuation as critical audit matters highlights areas requiring significant management judgment and auditor scrutiny, providing transparency into potential financial reporting complexities. This context is crucial for investors evaluating RSKIA's operational efficiency and asset management compared to competitors in the manufacturing and security products sector.

Risk Assessment

Risk Level: low — The risk level is low because this 10-K/A is solely for correcting the date of the Independent Registered Accounting Firm's report, as explicitly stated in the 'Explanatory Note.' No financial statements or other substantive disclosures from the original August 12, 2025 filing were altered, indicating no new material financial risks or operational changes.

Analyst Insight

Investors should view this 10-K/A as an administrative update with no impact on GEORGE RISK INDUSTRIES, INC.'s financial health or operational outlook. Focus should remain on the substantive information in the original 10-K filing, particularly the details surrounding the critical audit matters of inventory and investment valuation, for deeper analysis.

Key Numbers

• $29.34M — Market Value of Non-Affiliate Voting Stock (As of October 31, 2024, indicating public float.)
• 4.89M — Outstanding Common Shares (As of August 22, 2025, representing total shares in circulation.)
• 1992 — Auditor Tenure (Haynie & Company has served as auditor since 1992, indicating a long-standing relationship.)

Key Players & Entities

• GEORGE RISK INDUSTRIES, INC. (company) — Registrant
• Stephanie M. Risk-McElroy (person) — President and Chairman of the Board
• Haynie & Company (company) — Independent Registered Public Accounting Firm
• Securities and Exchange Commission (regulator) — Regulatory body
• $29,340,000 (dollar_amount) — Aggregate market value of voting stock held by non-affiliates as of October 31, 2024
• 4,891,830 (dollar_amount) — Number of outstanding shares of common stock as of August 22, 2025
• April 30, 2025 (date) — Fiscal year end
• August 12, 2025 (date) — Original filing date of the 10-K
• August 22, 2025 (date) — Filing date of the 10-K/A

FAQ

Risk Factors

• Inventory Valuation Complexity [medium — operational]: The company's inventory valuation involves complex calculations for direct labor and manufacturing overhead. Management's subjective judgments in these calculations can significantly impact reported assets and earnings if inaccurate. The audit involved testing direct labor costs against HR files and recalculating overhead application based on standard rates.
• Investment Valuation and Impairment [medium — financial]: Valuing investments, particularly Level 2 securities, and assessing other-than-temporary impairment for securities in unrealized loss positions requires subjective judgments. These judgments can materially affect reported earnings. The audit involved valuation specialists for Level 2 investments and testing management's impairment conclusions.

Industry Context

George Risk Industries, Inc. operates in a sector that likely involves manufacturing and potentially specialized industrial products. The competitive landscape would depend on the specific niche, but generally, companies in this space face pressures related to production efficiency, supply chain management, and technological advancements. Industry trends may include automation, sustainability initiatives, and evolving customer demands for customized solutions.

Regulatory Implications

The filing of a 10-K/A highlights the importance of accurate and timely financial reporting. The inclusion of Section 302 certifications underscores the company's commitment to compliance with the Sarbanes-Oxley Act. Critical audit matters related to inventory and investment valuation point to areas where regulatory scrutiny on accounting practices and disclosures is high.

What Investors Should Do

1. Review the critical audit matters highlighted by Haynie & Company.
2. Note the auditor's tenure of over 30 years with Haynie & Company.
3. Monitor future filings for detailed financial performance.

Key Dates

• 2025-04-30: Fiscal Year End — Marks the end of the reporting period for the annual financial statements.
• 2025-08-12: Original 10-K Filing — Initial filing of the annual report for the fiscal year ended April 30, 2025.
• 2025-08-22: 10-K/A Amendment No. 1 Filing — Correction of the auditor's report date in the original filing; no other changes made.
• 2024-10-31: Market Value of Non-Affiliate Voting Stock Determination Date — Establishes the public float value of the company as of this date.
• 2025-08-22: Outstanding Common Shares Determination Date — Reports the total number of shares in circulation as of this date.

Glossary

10-K/A

An amendment to a Form 10-K, which is an annual report required by the U.S. Securities and Exchange Commission (SEC) that gives a comprehensive summary of a company's financial performance. (This filing is an amendment to correct a specific detail in the original annual report.)

Report of Independent Registered Public Accounting Firm

The auditor's report that expresses an opinion on whether the financial statements are presented fairly, in all material respects, in accordance with Generally Accepted Accounting Principles (GAAP). (The date of this report was the sole reason for the 10-K/A filing.)

Non-affiliates

Individuals or entities that do not have a relationship with the company that allows them to control or significantly influence the company's management or policies. (Used to calculate the aggregate market value of voting stock held by the public, excluding insiders.)

Level 2 investments

Investments whose fair value is determined using observable inputs other than quoted prices in active markets, such as quoted prices for similar assets or liabilities, or other inputs that are observable. (A critical audit matter due to the subjective nature of valuing these investments.)

Other-than-temporary impairment

A decline in the fair value of an investment below its cost basis that is considered permanent, requiring the investment to be written down to its fair value. (A critical audit matter for investments in unrealized loss positions, requiring management judgment.)

PCAOB

The Public Company Accounting Oversight Board, a nonprofit corporation established by Congress to oversee the audits of public companies in order to protect the interests of investors. (The auditor is registered with the PCAOB and conducts audits in accordance with its standards.)

Section 302 certifications

Certifications required by the Sarbanes-Oxley Act of 2002, where the principal officers (typically CEO and CFO) certify the accuracy of financial reports. (New certifications were included in this amendment due to the filing requirements.)

Year-Over-Year Comparison

This filing is an amendment (10-K/A) solely to correct the date of the auditor's report from the original 10-K filed on August 12, 2025. Therefore, it does not present updated financial performance metrics or changes in risks compared to the original filing. The amendment explicitly states no other changes were made and does not reflect events subsequent to the original filing date.

Key Financial Figures

• $0.10 — hich registered Class A Common Stock, $0.10 par value RSKIA OTC Markets Conve
• $20 — Markets Convertible Preferred Stock, $20 stated value RSKIA OTC Markets In

Filing Documents

• form10-ka.htm (10-K/A) — 81KB
• ex31-1.htm (EX-31.1) — 6KB
• audit_001.jpg (GRAPHIC) — 48KB
• audit_002.jpg (GRAPHIC) — 11KB
• 0001641172-25-025152.txt ( ) — 505KB
• rskia-20250430.xsd (EX-101.SCH) — 4KB
• rskia-20250430_def.xml (EX-101.DEF) — 28KB
• rskia-20250430_lab.xml (EX-101.LAB) — 39KB
• rskia-20250430_pre.xml (EX-101.PRE) — 27KB
• form10-ka_htm.xml (XML) — 10KB

SIGNATURES

SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. /s/ STEPHANIE M. RISK-MCELROY August 22, 2025 STEPHANIE M. RISK-MCELROY Date President and Chairman of the Board

View Full Filing

View this 10-K/A filing on SEC EDGAR