8-K
GEORGE RISK INDUSTRIES, INC. (RSKIA)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of The Securities Exchange Act of 1934
| Date<br> of Report (Date of earliest event reported) | September<br> 21, 2021 |
|---|
GeorgeRisk Industries, Inc.****
(Exact name of registrant as specified in its charter)
| Colorado | 000-05378 | 84-0524756 |
|---|---|---|
| (State<br> or other jurisdiction | (Commission | (IRS<br> Employer |
| of<br> incorporation) | File<br> Number) | Identification<br> No.) |
| 802<br> S. Elm St. | ||
| --- | --- | |
| Kimball,<br> NE | 69145 | |
| (Address<br> of principal executive offices) | (Zip<br> Code) | |
| Registrant’s<br> telephone number, including area code: | 308-235-4645 | |
| --- | --- |
Not Applicable
(Former name or address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement<br> communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title<br> of each class | Trading<br> Symbol(s) | Name<br> of each exchange on which registered |
|---|---|---|
| Class<br> A Common Stock, $0.10 par value | RSKIA | OTC<br> Markets |
| Convertible<br> Preferred Stock, $20 stated value | RSKIA | OTC<br> Markets |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (Section 230.405 of this chapter) or rule 12b-2 of the Securities Exchange Act of 1934 (Section 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| ITEM 8.01 | OTHER EVENTS. |
|---|
On September 20, 2021, the Registrant issued a press release announcing the declaration of a cash dividend on the common stock of the Registrant. The entire text of the press release is attached as Exhibit 99.1 and is incorporated by reference herein.
| ITEM 9.01 | FINANCIAL STATEMENTS AND EXHIBITS. |
|---|---|
| (d) | Exhibits: |
| --- | --- |
| 99.1 | George Risk Industries, Inc. Press Release, dated September 20, 2021. |
| --- | --- |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date:<br> September 21, 2021 | By: | /s/ Stephanie M. Risk-McElroy |
|---|---|---|
| Stephanie<br> M. Risk-McElroy | ||
| President/CEO/CFO |
Exhibit99.1
| GEORGE RISK INDUSTRIES, INC. |
|---|
| 802 S. ELM ST., KIMBALL,<br> NEBRASKA 69145-1599 <br><br>TELEPHONE #: (308) 235-4645<br><br> ACCOUNTING FAX #: (308) 235-2554<br><br> E-MAIL: stephanie.risk-mcelroy@grisk.com<br><br> WEB SITE:<br> www.grisk.com |
COMPANY PRESS RELEASE
GEORGE RISK INDUSTRIES, INC.
FIRST QUARTER FYE 2022 RESULTS AND ANNUAL DIVIDEND ANNOUCEMENT
KIMBALL, NE — SEPTEMBER 20, 2021 — GEORGE RISK INDUSTRIES, INC., (OTCBB:RSKIA), a diversified and leading American manufacturer of a wide variety of products in the security and proximity sensor industries, recorded net sales of $4,955,000 for the quarter ending July 31, 2021. This is an increase of 22.44% over the same period the prior year. Net income for the quarter ended July 31, 2021, was $1,746,000, a 29.97% decrease from the corresponding quarter last year. Unrealized gains on investments were not as big as they were for the same quarter last year, resulting in the overall net income decrease. Earnings per share for the quarter ended July 31, 2021, was $0.35 per common share and $0.50 per common share for the quarter ended July 31, 2020.
George Risk Industries, Inc. is on track to have another record breaking sales year. Like everyone, we faced challenges through the pandemic but have been fortunate that we have been able to stay open every day, selling, producing, and shipping products domestically and around the world. Unlike many manufactures who have experienced long delays receiving raw materials and with shipping bottlenecks, we have been relatively unscathed thanks to purchasing in large quantities and planning for advanced lead times. However, as it looks like the pandemic will be rolling into year three, we are starting to see delays in our supply chain.
Much of the increase in revenue can be attributed to the reopening of many businesses where our products are sold. These businesses include large national retail chains, warehouses, and tech companies. Fortunately, we have not seen a slowdown in orders. Our backlog of products continues to be an ongoing battle. Additional hiring, offering overtime hours, and additional manufacturing space are solutions we have been keeping track of to fulfill our customer needs. Quality, customer service, and addressing these obstacles remain at the forefront of our daily operations.
New product development includes explosion proof contacts that will be UL listed for hazardous locations. Customer demand prompted the development for this type of high security magnetic reed switch. An updated version of the pool access alarm (PAA) has met with ETL approval and production has started. Our glass break detector is undergoing a redesign as well as our water shutoff system that will now include a brass valve.
At George Risk Industries, Inc. latest Board of Directors meeting, which was held on September 8, 2021, a dividend of $0.50 per common share was declared. This is a $0.08 increase from the dividend that was paid last year. This dividend will be paid to stockholders of record as of September 30, 2021 and will be paid out by October 31, 2021.
George Risk Industries, Inc. is engaged in the design, manufacture and sale to distributors and OEM manufacturers of custom computer keyboards, push button switches, burglar alarm components, pool access alarms, thermostats, E-Z Duct wire cover, hydro sensors and wire and cable tools. The company has representation in the United States, Canada, Asia and EMEA (Europe, the Middle East and Africa.).
CONTACT:
Stephanie M. Risk-McElroy, President/CEO/CFO
308-235-4645
800-523-1223