Company: MMTIF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001062993-25-003888
Chunk: 36

Company: MICROMEM TECHNOLOGIES INC
Filing Date: 2025-02-28
Form: 20-F
Item: Item 7
Chunk 36
---
ITEM 7.MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS

A. Major Shareholders:

To our knowledge, no shareholder holds greater than 5% of the common shares outstanding of the Company. As of the date of this Annual Report, approximately 45% of the issued and outstanding common shares are held by Canadian investors; approximately 48 of the issued and outstanding shares are held by U. S. investors; and approximately 7% are held by investors outside of Canada and the U. S.

We are not aware of any arrangement, the operation of which may result in a change of control of the Company.

B. Related Party Transactions:

The Company reports the following related party transactions:

(a)Management and consulting fees:

Included in professional fees, other fees and salaries as reported are management fees and consulting fees paid or payable to individuals (or Companies controlled by such individuals) who served as officers, directors, and employees of the Company. The total compensation paid to such parties is summarized as follows:

                                2024             2023      2022      
 ─────────────────────────────────────────────────────────────────────
  Cash Compensation             $77,823      $214,914      $133,517  
  Stock based compensation      -              82,946      -         
                                $77,823      $297,860      $133,517  

The cash compensation paid in 2024 included $40,904 to our CFO, Dan Amadori (2023: $69,990) and $36,919 to our CEO, Joseph Fuda (2023: $147,242).

C. Interests of Experts and Counsel.

Not applicable.

ITEM 8. FINANCIAL INFORMATION