Company: GNOLF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001654954-25-004861
Chunk: 26

Company: GENOIL INC
Filing Date: 2025-04-30
Form: 20-F
Item: Item 8
Chunk 26
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Item 8. Financial Information

A. Consolidated statements and other financial information.

Please see "Item 3 Financial Statements" and Exhibit 19(a) for a list of the financial statements filed as part of this annual report statement.

Genoil has neither declared nor paid dividends on any of its outstanding Common Shares, and does not intend to do so in the foreseeable future. It intends to retain any future earnings to finance the expansion of its business. Any future determination to pay dividends will be at the discretion of the Board of Directors and will be dependent upon its earnings, capital requirements and financial position, as well as any other factors deemed relevant by the Board of Directors.

B. Significant changes.

At the annual and special meeting of the shareholders of Genoil held on November 14, 2016, a special resolution was passed authorizing the continuance of the Corporation from a corporation existing under the laws of Canada to a corporation existing under the laws of the Country of Curaçao. On May 29, 2019 the Company finally received a letter of satisfaction from Corporations Canada approving Genoil's move to Curacao. However, no such move has been implemented to date.

Item 9. The Offer and Listing