Company: GNOLF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001654954-25-004861
Chunk: 46

Company: GENOIL INC
Filing Date: 2025-04-30
Form: 20-F
Item: Item 16
Chunk 46
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Exemptions from the Listing Standards for Audit Committees
 
Not applicable.
 
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
 
Not applicable.
 
E. Share Repurchases
 
The Company has not repurchased any shares.
 
F. Change in registrant’s Certifying Accountant
 
The Company’s Board of Directors appointed HHL LLP as its new independent registered public accounting firm, effective as of December 26, 2024. Pursuant to Rule 2-01 (17 CFR 210.2-01(c)(6)) of the Sarbanes-Oxley Act of 2002, public companies are required to rotate their audit partners every five years.The Company filed Form 6-K on April 21, 2025.
 
I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections
 
Not Applicable
 
J. Insider Trading Policies
 
The registrant has not formally adopted insider trading policies and procedures governing the purchase, sale, and other dispositions of the registrant’s securities by directors, senior management, and employees that are reasonably designed to promote compliance with applicable insider trading laws, rules and regulations, due to the intimate composition of the Company’s personnel. There are only two officers of the Company.
K. Cybersecurity
 
Cybersecurity incident means an unauthorized occurrence, or a series of related unauthorized occurrences, on or conducted through a registrant’s information systems that jeopardizes the confidentiality, integrity, or availability of a registrant’s information systems or any information residing therein. Cybersecurity threat means any potential unauthorized occurrence on or conducted through a registrant’s information systems that may result in adverse effects on the confidentiality, integrity, or availability of a registrant’s information systems or any information residing therein.
 
Due to the intimate nature of the Company, its limited resources and the assessed minimal risk of such an occurrence, the Company has no formal processes for assessing, identifying, and managing material risks from cybersecurity threats.
 

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PART III
Financial Statements
 
The Consolidated Financial Statements for years ended December 31, 2024, 2023 and 2022 are attached as Exhibit 15.1.
 
Financial Statements
 
The registrant has elected to provide financial statements using accounting principles generally accepted in the United States of America (“GAAP”) for the 2024, 2023 and 2022 year ends.
 
Exhibits
 
(a) The Consolidated Financial Statements for the years ended December 31, 2024, 2023 and, 202