Company: SCTH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001017386-25-000028
Chunk: 5

Company: Securetech Innovations, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 11
Chunk 5
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 as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers, and controlling persons pursuant to the preceding provisions or otherwise, the registrant has been advised that, in the opinion of the Commission, such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.

In the event a claim for indemnification against such liabilities (other than the payment by the small business issuer of expenses incurred or paid by a director, officer, or controlling person in the successful defense of any action, suit, or proceeding) is asserted by such director, officer, or controlling person in connection with the securities being registered, the registrant will, unless, in the opinion of counsel, the matter has been settled by controlling precedent, submit to a court of appropriate 

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jurisdiction to determine whether such indemnification is against public policy as expressed in the Securities Act. The final adjudication of such issue will govern.

Corporate Governance and Director Independence

Our Board of Directors has not established Audit, Compensation, Nominating, or Governance Committees as standing committees. The Board does not have an executive committee or any similar committees. We are not listed on a national securities exchange or an inter-dealer quotation system that requires a majority of the Board to be independent. Our directors have determined that they are not “independent” under the NASDAQ Stock Market's listing standards, which is the definition our Board uses for determining independence. Therefore, our directors are not independent.

Disclosure of Commission Position on Indemnification for Securities Act Liabilities

Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers, or persons controlling the registrant pursuant to the preceding provisions, the registrant has been informed that, in the opinion of the Securities and Exchange Commission, such indemnification is against public policy as expressed in the Act and is therefore unenforceable.

Item 14.  Principal Accounting Fees and Services

Audit Fees

The aggregate fees billed for the last two fiscal years for professional services rendered by the principal accountant include the annual audit of our financial statements, the review of financial statements in our quarterly reports, and services typically provided in connection with statutory and regulatory filings or engagements. The fees for these fiscal periods were as follows:

For the Fiscal Year Ended December 31,

2024

2023

Audit Fees
$
33,500
$
25,500

Audit Related Fees
 
1,500
 
-0