U.S. SECURITIES AND EXCHANGE COMMISSION
                          Washington, DC 20549

                              Form 10-K


[X]  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
     SECURITIES EXCHANGE ACT OF 1934
           For the fiscal year ended April 30, 2014
[  ]  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
      SECURITIES EXCHANGE ACT OF 1934
For the transition period from  __________  to _________

                Commission File Number: 000-05378

                  George Risk Industries, Inc.
                  ____________________________

        (Exact Name of registrant as specified in its charter)
            Colorado                        84-0524756
            ________                        __________
  (State of  incorporation)          (IRS Employer Identification No.)

         802 South Elm
          Kimball, NE                         69145
          ___________                         _____
(Address of principal executive             (Zip Code)
            offices)

Issuer's telephone number (308) 235-4645
                          ______________
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class       Name of Exchange on Which Registered
          None                      None
          ____                      ____
Securities registered under Section 12(g) of the Act:
          Class A Common Stock, $.10 par value
                     (Title of class)


Indicate by check mark if the registrant is a well-known seasoned issuer,
as defined in Rule 405 of the Securities Act.

                                                   Yes [  ]    No [X]

Indicate by check mark if the registrant is not required to file reports
pursuant to Section 13 or Sections 15(d) of the Act.

                                                   Yes [ ]     No [X]


Indicate by check mark whether the registrant (1) filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act during the
preceding 12 months (or for such shorter period that the registrant was required
to file such reports) and (2) has been subject to such filing requirements for
the past 90 days.
                                                    Yes [X]     No [ ]
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Indicate by check mark whether the registrant has submitted electronically and
posted on its corporate Website, if any, every Interactive Data File required to
be submitted and posted pursuant to Rule 405 of Regulation S-T (Section 229-405
of this chapter) during the preceding 12 months (or for such shorter period that
the registrant was required to submit and post such files).

                                                Yes  [ ]      No  [X]

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K (Section 229-405 of this chapter) is not contained herein, to
the best of registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. [X]

Indicate by check mark whether the registrant is a large accelerated filer,
a non-accelerated filer, or a small reporting company.  See the definitions of
"large accelerated filer," "accelerated filer" and "smaller reporting company
in Rule 12b-2 of the Exchange Act.

              Large accelerated filer  	[  ]	Accelerated filer  [  ]
	      Non-accelerated filer     [  ]	Smaller reporting company [X]
	      (Do not check is smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined
in Rule 12b-2 of the Act).
						Yes  [  ]	No  [ X ]

The aggregate market value, as of August 13, 2014, of the common stock (based on
the average of the bid and asked prices of the shares on the OCTBB of George
Risk Industries, Inc.) held by non-affiliates (assuming, for this purpose, that
all directors, officers and owners of 5% or more of the registrant's common
stock are deemed affiliates) was approximately $14,176,421.


The number of outstanding shares of the common stock as of August 13, 2014 was
5,029,775.

DOCUMENTS INCORPORATED BY REFERENCE
A material vendor contract with a customer that accounts for a material portion
of our sales.


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Part I

Preliminary Note Regarding Forward-Looking Statements and Currency Disclosure

This annual report contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended.  These statements relate to future
events or our future financial performance.  In some cases, you can identify
forward-looking statements by terminology such as "may", "should", "expects",
"plans", "anticipates", "believes", "estimates", "predicts", "potential" or
"continue" or the negative of these terms or other comparable terminology.
These statements are only predictions and involve known and unknown risks,
uncertainties and other factors, including the risks in the section entitled
"Risk Factors", that may cause our or our industry's actual results, levels
of activity, performance or achievements to be materially different from any
future results, levels of activity, performance or achievements expressed or
implied by these forward-looking statements.

Although we believe that the expectations reflected in the forward-looking
statements are reasonable, we cannot guarantee future results, levels of
activity, performance or achievements.  We do not intend to update
any of the forward-looking statements to conform these statements to actual
results except as required by applicable law,including the securities laws
of the United States.

Our financial statements are stated in United States dollars, rounded to the
nearest thousand, and are prepared in accordance with United States Generally
Accepted Accounting Principles.



Item 1  Business
(a)  Business Development

George Risk Industries, Inc. (GRI or the company) was incorporated in 1967
in Colorado.  The company is presently engaged in the design, manufacture,
and sale of computer keyboards, push button switches, burglar alarm
components and systems, pool alarms, thermostats, EZ Duct wire covers and
water sensors.


Products, Market, and Distribution

The company designs, manufactures, and sells computer keyboards, push-button
switches, burglar alarm components and systems, pool alarms, and water sensors.
Our security burglar alarm products comprise approximately 85 percent of net
revenues and are sold through distributors and alarm dealers/installers.

The security segment has approximately 1,000 customers. One of the distributors,
ADI (which is a division of Honeywell International)accounts for approximately
39 percent of the company's sales of these products. Tri-Ed Distribution
accounts for another 12 percent of company sales. Loss of these distributors
would be significant to the company. However, both companies have purchased
from the company for many years and are expected to continue. Also, the company
has obtained a written agreement with ADI. This agreement was signed in
February 2011 and initiated by the customer. The contents of the agreement
include product terms, purchasing, payment terms, term and termination, product
marketing, representations and warranties, product support, mutual
confidentiality, indemnification and insurance, and general provisions.

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The keyboard segment has approximately 800 customers. Keyboard products are sold
to original equipment manufacturers to their specifications and to distributors
of off-the-shelf keyboards of proprietary design.


Competition

The company has intense competition in the keyboard and burglar alarm lines.

The burglar alarm segment has approximately eight major competitors. The company
competes well based on price, product design, quality, customization, and prompt
delivery.

The competitors in the keyboard segment are larger companies with automated
production facilities.  GRI has emphasized small custom order sales that many
of its competitors decline or discourage.


Research and Development

The company performs research and development for its customers when needed
and requested. Costs in connection with such product development have been
borne by the customers.  Costs associated with the development of new products
are expensed as incurred.

Employees

GRI has approximately 165 employees.


Item 2  Properties

The company owns the manufacturing and some of the office facilities.  Total
square footage of the plant in Kimball, Nebraska is approximately 42,500 sq. ft.
Additionally, the company leases 15,000 square feet for $1,535 per month with
Bonnie Risk. Bonnie Risk is a director of the company.

As of October 1, 1996, the company also began operating a satellite plant in
Gering, NE. This expansion was done in coordination with Twin Cities
Development. The company leased manufacturing facilities until July 2005.
During the first quarter of fiscal year end 2006, the company purchased a
building that is 7,200-sq. ft. in size. Currently, there are 30 employees at
the Gering site.


Item 3  Legal Proceedings
None.


Item 4	Submission of Matters to a Vote of Security Holders
Not applicable.

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Part II


Item 5	Market for the Registrant's Common Equity and Related
 Stockholders' Matter

Principal Market

The company's Class A Common Stock, which is traded under the ticker symbol
RSKIA, is currently quoted on the OTC Bulletin Board by one market maker.

Stock Prices and Dividends Information
<TABLE>
<CAPTION>


2014 Fiscal Year
                           High                  Low

<S>                        <C>                   <C>
May 1-July 31              7.90                  6.92
August 1-October 31        9.00                  7.70
November 1-January 31      9.04                  7.87
February 1-April 30        9.00                  7.32

</TABLE>


<TABLE>
<CAPTION>


2013 Fiscal Year
                           High                  Low

<S>                        <C>                   <C>
May 1-July 31              6.20                  5.02
August 1-October 31        7.24                  5.76
November 1-January 31      7.59                  6.55
February 1-April 30        7.40                  6.60


</TABLE>


On September 30, 2013, a dividend of $.30 per common share was declared
for the fiscal year ended April 30, 2014.

For the prior fiscal year, a dividend of $0.28 per common share was declared
on September 30, 2012 and an additional dividend of $0.22 per common share
was declared on December 16, 2012 for a total dividend payout of $0.50 per
common share.

The number of holders of record of the company's Class A Common Stock
as of April 30, 2014, was approximately 1,200.

Repurchases of Equity Securities

On September 18, 2008, the Board of Directors approved an authorization for
the repurchase of up to 500,000 shares of the company's common stock.
Purchases can be made in the open market or in privately negotiated
transactions. The Board did not specify an expiration date for the
authorization.

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The following tables show repurchases of GRI's common stock made on a
quarterly basis:

<TABLE>
<CAPTION>

2014 Fiscal Year         Number of shares repurchased

<S>                            <C>
May 1-July 31                  1,850
August 1-October 31            1,700
November 1-January 31            750
February 1-April 30            1,050

</TABLE>

<TABLE>
<CAPTION>


2013 Fiscal Year         Number of shares repurchased

<S>                            <C>
May 1-July 31                      0
August 1-October 31            5,574
November 1-January 31          1,500
February 1-April 30                0

</TABLE>


There are still approximately 350,000 shares available to be repurchased under
the current resolution.

Item 6 Selected Financial Data

As a smaller reporting company, we are not required to respond to this item.

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Item 7  Management's Discussion and Analysis of Financial Condition and
Results of Operations

Executive Overview
__________________

George Risk Industries, Inc. (GRI) is a diversified manufacturer of electronic
components, encompassing the security industry's widest variety of door and
window contact switches, environmental products, proximity switches and custom
keyboards. The security products division comprises the largest portion of GRI
sales and are sold worldwide through distributors, who in turn sell these
products to security installing companies.  These products are used for
residential, commercial, industrial and government installations.  International
sales accounted for approximately 13.7% of revenues for fiscal year 2014 and
6.3% for 2013.

GRI is known for its quality American made products, top-notch customer service
and the willingness to work with customers on their special applications.

GRI owns and operates its main manufacturing plant and offices in Kimball,
Nebraska with a satellite plant 40 miles away in Gering, Nebraska.

The company has substantial marketable securities holdings and these holdings
have a material impact on the financial results.  For the fiscal year ending
April 30, 2014, other income accounted for 23.10% of income before income taxes.
In comparison, other income accounted for 31.66% of the income before income
taxes for the year ending April 30, 2013.  Management's philosophy behind having
holdings in marketable securities is to keep the money working and gaining
interest on the cash that is not needed to be put back into the business.  And
over the years, the investments have kept the earnings per share up when the
results from operations have not fared as well.

Management is always open to the possibility of acquiring a business that would
complement our existing operations.  This would probably not require any outside
financing.  The intent would be to utilize the equipment, marketing techniques
and established customers to increase sales and profits.

There are no known seasonal trends with any of GRI's products, since we mostly
sell to distributors and OEM manufacturers. The products are tied to the housing
industry and will fluctuate with building trends.

Liquidity and Capital Resources
_______________________________

Operating
Net cash increased $1,013,000 during the year ended April 30, 2014 compared to
a decrease of $914,000 during the year ended April 30, 2013. Accounts receivable
increased $119,000 during the current year and showed a $244,000 increase in the
prior year.  The increase in cash flow from accounts receivable is a reflection
of increased sales and stronger attention to collections. At April 30, 2014,
75.47% of the receivables were less than 45 days and less than 1% were over 90
days.  In comparison, 69.77% of the receivables were considered current (less
than 45 days) and 0.43% of the total were over 90 days past due for the prior
year during the same period.

Inventories increased by $159,000 in fiscal year ended April 30, 2014 while the
prior period showed a decrease of $277,000 at year end.

Prepaid expenses increased by a net of $72,000 in the current year and decreased
by $80,000 for the year ended April 30, 2013, primarily due to prepaid orders
for parts not yet received at year end.


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For the year ended April 30, 2014, accounts payable increased by $41,000 as
compared to a decrease of $28,000 for the same period the year before. The
change in cash in regards to accounts payable is largely based on timing.
Payables are paid within terms and fluctuate based primarily on inventory needs
for production. Accrued expenses increased $19,000 for the year ended April
30, 2014, primarily due to timing of personnel related items. Income taxes
payable increased for the year ended April 30, 2014, up $379,000 from the
prior year due in part to the gain on the sale of the company airplane, sale of
investments, and the elimination of the loss carry forward from prior years.

Investing
As for our investment activities, $81,000 was spent on purchases of property
and equipment during the current fiscal year, compared to $104,000 during the
year ended April 30, 2013. Additionally, the Company continues to purchase
marketable securities, which include municipal bonds and quality stocks. Cash
spent on purchases of marketable securities for the year ended April 30, 2014
was $620,000 and $760,000 was spent for the corresponding period last year.
Conversely, net proceeds from the sale of marketable securities for the year
ended April 30, 2014 were $5,000 and $89,000 for the same period last year.
We use "money manager" accounts for most stock transactions. By doing this, the
Company gives an independent third party firm, who are experts in this field,
permission to buy and sell stocks at will. The Company pays a quarterly service
fee based on the value of the investments. Furthermore, the Company continues to
purchase back its common stock when the opportunity arises. For the year ended
April 30, 2014, the Company purchased $38,000 of treasury stock and
$36,000 was bought back for the year ended April 30, 2013.  We have been
actively searching for stockholders that have been "lost" over the years. The
payment of dividends over the last nine fiscal years has also prompted many
stockholders and/or their relatives and descendants to sell back their stock to
the Company.

As for investment activities, a net amount of $4,000 was spent on other assets
manufactured for the year ended April 30, 2014, while $1,000 was capitalized on
these activities during the prior year. Additionally, the company airplane was
sold during the year ended April 30, 2014 with proceeds from that sale amounting
to $127,000.

Financing
Cash used in financing activities were $1,374,000 for the year ended April 30,
2014, which mostly consisted of dividends paid. The company declared a  dividend
of $0.30 per share of common stock on September 30, 2013 for the current year,
while a $0.28 per share of common stock dividend September 30, 2012 and a
dividend of $0.22 per share of common stock on December 16, 2012 were issued in
the prior year.

Results of Operations
_____________________

GRI completed the fiscal year ending April 30, 2014, with a net profit of 28.31%
of net sales. Net sales were at $11,025,000, up 4.9% over the previous year.
The slight increase in sales is a result of continued quality service and a
price increase implemented in January, 2014. Cost of goods sold was 44.46% of
net sales for the year ended April 30, 2014 and 48.42% for the same period last
year. Management continues to keep labor and other manufacturing expenses in
check, therefore keeping the cost of goods sold percentage in the desired range
of 45 to 50%.

Operating expenses were 23.66% of net sales for the year ended April 30, 2014 as
compared to 25.91% for the corresponding period last year.  Management's goal is
to keep the operating expenses around 30% or less of net sales, so the goal has
been met for the current fiscal year.  Income from operations for the year ended
April 30, 2014 was at $3,514,000, which is a 30.24% increase from the
corresponding period last year, which had income from operations of $2,698,000.

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Other income and expense results for the fiscal year ended April 30, 2014
produced a gain of $1,055,000.  This is in comparison to a gain of $1,250,000
for the fiscal year ended April 30, 2013. Dividend and interest income was
$668,000, which was down 15.34% for the year.  Dividend and interest expense at
April 30, 2013 was $789,000. Gains on investments for the current fiscal year
were $384,000, which is a 16.52% decrease over the prior year. Gains on
investments for the fiscal year ending April 30, 2013 were $460,000.

Net income for the year ended April 30, 2014 was $3,122,000, which is up
dramatically from the prior year, which produced a net gain of $2,721,000.
Earnings per common share for the year ended April 30, 2014 was $0.62 per share.
EPS for the year ended April 30, 2013 was $0.54 per share.

Management expects sales to stay steady for the fiscal year ending April 30,
2015. The company's main division of products that are sold (security switches)
are directly tied to the housing industry.  And since the housing industry's
performance has improved, the company's sales have also improved in relation to
the economy.  We are always researching and developing new products that will
help our sales increase.  While we were not successful in launching the
anticipated new products in fiscal year 2014, we continue to work toward a new
release date for those products, and to search for products that complement
our current offerings.

At April 30, 2014, working capital increased 7.03% in comparison to the
previous fiscal year. The company measures liquidity using the quick ratio,
which is the ratio of cash, securities and accounts receivables to current
obligations. The company's quick ratio decreased to 14.565 for the year ended
April 30, 2014 compared to 18.390 for the year ended April 30, 2013, reflecting
a strong position in ability to meet capital needs as they arise.

New product development

The GRI Engineering department continues to develop enhancements to our
existing products as well as to develop new products that will continue to
secure our position in the industry.

Wireless technology is a main area of focus for product development. We are
looking into adding wireless technology to some of our current products.
First of all, we are working on a wireless version of our Pool Alarm that will
be easy to install in current construction. We are also concentrating on making
products compatible with the increasing popular Z-Wave standard for wireless
home automation.

We are working on high security switches. We have a triple biased high security
switch design nearly complete and an adjustable magnet design was completed for
recessed mounting applications.

Our molding department is working on new molds for enhancements to our new
Current Controller and a 29-series switch. The new versions of the Current
Controller will allow the user to control more lights with a single controller
or to handle higher voltage applications for use overseas.

We continue to research the possibilities of fuel level sensing and how that may
also serve other agricultural based needs. Several companies from around the
world have been looking for ways to secure fuel tanks and trucks. Our emphasis
would be in ways to safely monitor fuel levels and report tampering.

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Critical Accounting Policies
____________________________

The discussion and analysis of our financial condition and results of operations
are based upon our consolidated financial statements, which have been prepared
in conformity with generally accepted accounting principles in the United
States. The preparation of these financial statements requires us to make
estimates and assumptions that affect the reported amounts of assets,
liabilities, revenues and expenses reported in those financial statements.
These judgments can be subjective and complex, and consequently actual results
could differ from those estimates. Our most critical accounting policies relate
to accounts receivable; marketable securities; inventory; income taxes; and
segment reporting.

Accounts Receivable-Accounts receivable are customer obligations due under
normal trade terms. The company sells its products to security alarm
distributors, alarm installers, and original equipment manufacturers. Management
performs continuing credit evaluations of its customers' financial condition and
the company generally does not require collateral.

The company records an allowance for doubtful accounts based on an analysis of
specifically identified customer balances. The company has a limited number of
customers with individually large amounts due at any given date. Any unantici-
pated change in any one of these customers' credit worthiness or other matters
affecting the collectibility of amounts due from such customers could have a
material effect on the results of operations in the period in which such changes
or events occur.  After all attempts to collect a receivable have failed, the
receivable is written off.

Marketable securities-The Company has investments in publicly traded equity
securities, state and municipal debt securities, and hedge funds.  The invest-
ments in securities are classified as available-for-sale securities, and are
reported at fair value.  The investments in hedge funds are reported at cost.
The Company uses the average cost method to determine the cost of securities
sold and the amount reclassified out of accumulated other comprehensive income
into earnings. Unrealized gains and losses are excluded from earnings and
reported separately as a component of stockholder's equity. Dividend and
interest income are reported as earned.

In accordance with the Generally Accepted Accounting Principles in the United
States (US GAAP), the Company evaluates all marketable securities for other-
than temporary declines in fair value.  When the cost basis exceeds the fair
market value for approximately one year, management evaluates the nature of
the investment, cause of impairment and number of investments that are in an
unrealized position.  When it is determined that a security will probably remain
impaired, a recognized loss is booked and the investment is written down to its
new fair value.  The investments are periodically evaluated to determine if
impairment changes are required.

Inventories-Inventories are valued at the lower of cost or market value.  Costs
are determined using the average cost-pricing method. The company uses standard
costs to price its manufactured inventories, approximating average costs.  The
reported net value of inventory includes finished saleable products, work-in-
process and raw materials that will be sold or used in future periods. Inventory
costs include raw materials, direct labor and overhead. The Company's overhead
expenses are applied, based in part, upon estimates of the proportion of those
expenses that are related to procuring and storing raw materials as compared to
the manufacture and assembly of finished products. These proportions, the method
of their application, and the resulting overhead included in ending inventory,
are based in part on subjective estimates and approximations and actual results
could differ from those estimates.

In addition, the Company records an inventory obsolescence reserve, which
represents the cost of the inventory that has had no movement in over two years.
There is inherent professional judgment and subjectivity made by management in
determining the estimated obsolescence percentage. In addition, and as
necessary, the Company may establish specific reserves for future known or
anticipated events.


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Income Taxes-US GAAP requires use of the liability method, whereby current and
deferred tax assets and liabilities are determined based on tax rates and laws
enacted as of the balance sheet date.  Deferred tax expense represents the
change in the deferred tax asset/liability balances.

Segment Reporting and Related Information-The Company designates the internal
organization that is used by management for allocating resources and assessing
performance as the source of the Company's reportable segments.  US GAAP also
requires disclosures about products and services, geographic area and major
customers.

Related Party Transactions - The Company leases a building from Bonnie Risk.
Ken Risk was the Chairman of the Board and President and CEO of the
company until his death in February 2013. Bonnie Risk is Ken's wife, who is a
director and an employee of the company. This building contains the Company's
sales and accounting departments, maintenance department, engineering department
and some production facilities. This lease requires a minimum payment of $1,535
on a month-to-month basis. The total lease expense for this arrangement was
$18,420 for the fiscal years ended April 30, 2014 and 2013.

The company also leased its airplane from former President and CEO Ken Risk, who
was also a majority stockholder, on a month-to-month basis requiring payments of
$2,250. Airplane lease expenses charged to operations for the fiscal year ended
April 30, 2013 were $22,500. During the year ended April 30, 2000, the Company
paid $210,000 and the former President/CEO contributed the airplane in trade for
another airplane. The Company and this officer jointly owned the airplane. The
airplane was sold during the year ended April 30, 2014.

One of the directors of the board, Joel Wiens, is the principal shareholder of
FirsTier Bank.  FirsTier Bank is the financial institution the company uses for
its day to day banking operations.  Year end balances of accounts held at this
bank are $3,879,000 for the year ended April 30, 2014 and $3,350,000 for the
year ended April 30, 2013. The Company also received interest income from
FirsTier Bank in the amount of $1,500 for the year ended April 30, 2014 and
$2,000 for the year ended April 30, 2013.

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Item 8  Financial Statements


        Index to Financial Statements
       George Risk Industries, Inc.



Page

Independent Auditor's Report                      13

Balance Sheets April 30, 2014 and 2013            14

Statements of Income
  For the Years Ended April 30, 2014 and 2013     16

Statements of Comprehensive Income
  For the Years Ended April 30, 2014 and 2013     17

Statement of Changes in Stockholders' Equity
  For the Years Ended April 30, 2014 and 2013     18

Statements of Cash Flows
  For the Years Ended April 30, 2014 and 2013     19

Notes to Financial Statements                     21


Page 12

<page>


     Report of Independent Registered Public Accounting Firm



Board of Directors
George Risk Industries, Inc.
Kimball, Nebraska


We have audited the accompanying balance sheets of George Risk Industries,
Inc. as of April 30, 2014 and 2013, and the related statements of income,
comprehensive income, stockholders' equity, and cash flows for each of the
years in the two-year period ended April 30, 2014.  These financial
statements are the responsibility of the company's management.  Our
responsibility is to express an opinion on these financial statements based
on our audits.

We conducted our audits in accordance with standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we
plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement.The company is not
required to have, nor were we engaged to perform, an audit of its internal
control over financial reporting. Our audit included consideration of internal
control over financial reporting as a basis for designing audit procedures
that are appropriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness of the company's internal control
over financial reporting. Accordingly, we express no such opinion. An audit
includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by management, as
well as evaluating the overall financial statement presentation.  We believe
that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present
fairly, in all material respects, the financial position of George Risk
Industries, Inc. as of April 30, 2014 and 2013, and the results of their
operations and their cash flows for each of the years in the two year period
ended April 30, 2014, in conformity with accounting principles generally
accepted in the United States of America.


/s/ Haynie & Company


Littleton, Colorado
August 13, 2014






<page>



<TABLE>

<CAPTION>


                George Risk Industries, Inc.
                    Balance Sheets
                 April 30, 2014 and 2013

                                                    2014              2013
                                                    ____              ____
                                                                   As Amended
                                                                   __________
<S>                                             <C>             <c>

ASSETS
Current Assets
 Cash and cash equivalents                      $  5,872,000     $  4,859,000
 Investments and securities                       23,904,000       22,208,000
 Accounts receivable:
 Trade, net of $4,500 and $4,000 doubtful
  account allowance for 2014 and 2013,
   respectively                                    2,034,000        1,915,000
 Other                                                 3,000            1,000
 Note receivable, current                                  -            5,000
 Income tax overpayment                                    -          347,000
 Inventories                                       2,233,000        2,074,000
 Prepaid expenses                                    132,000           60,000
                                                 ____________     ____________
Total Current Assets                            $ 34,178,000     $ 31,469,000

Property and Equipment, net, at cost                 625,000          701,000

Other Assets
 Investment in Limited Land Partnership,
  at cost                                            238,000          238,000
 Projects in process                                  41,000           45,000
 Note receivable                                           -            2,000
 Other                                                 1,000            1,000
                                                ____________     ____________

Total Other Assets                              $    280,000     $    286,000

TOTAL ASSETS                                    $ 35,083,000     $ 32,456,000
                                                ____________      ___________
                                                ____________      ___________


<FN>
See accompanying notes to financial statements.

</TABLE>
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<page>


<TABLE>
<CAPTION>


                George Risk Industries, Inc.
                    Balance Sheets
               As of April 30, 2014 and 2013



             Liabilities and Stockholders' Equity
                                                      2014              2013
                                                      ____              ____
                                                                    As Amended
                                                                    __________
<S>                                                   <C>           <C>
Current Liabilities
 Accounts payable, trade                              $  109,000    $    68,000
 Dividends payable                                       953,000        817,000
 Accrued expenses:
  Payroll and related expenses                           278,000        259,000
 Income tax payable                                       75,000              -
 Deferred income taxes                                   769,000        432,000
                                                      __________    ___________
   Total Current Liabilities                          $2,184,000    $ 1,576,000

Long-Term Liabilities
 Deferred income taxes                                   100,000        133,000
                                                      ___________   ___________
   Total Long-Term Liabilities                        $  100,000    $   133,000


Stockholders' Equity
 Convertible preferred stock, 1,000,000 shares
  authorized, Series 1--noncumulative, $20
  stated value, 25,000 shares authorized, 4,100
  issued and outstanding                                   99,000        99,000
 Common stock, Class A, $.10 par value, 10,000,000
  shares authorized, 8,502,881 shares issued              850,000       850,000
 Additional paid-in capital                             1,736,000     1,736,000
 Accumulated other comprehensive income                 1,222,000       743,000
 Retained earnings                                     32,417,000    30,806,000
 Less: treasury stock,3,472,706 and
    3,467,356 shares, at cost                          (3,525,000)   (3,487,000)
                                                      ___________   ___________
   Total Stockholders' Equity                         $32,799,000   $30,747,000
                                                      ___________   ___________

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY            $35,083,000   $32,456,000
                                                      ___________   ___________
                                                      ___________   ___________

</TABLE>



<FN>
See accompanying notes to financial statements.

Page 15
<page>



<TABLE>

<CAPTION>


                 George Risk Industries, Inc.
                    Income Statements
        For the Years Ended April 30, 2014 and 2013

                                           Year           Year
                                          Ended           Ended
                                       Apr 30,2014    Apr 30, 2013
                                       ___________     As Amended
                                                      ____________

<S>                                    <C>             <C>
Net Sales                              $11,025,000     $10,510,000
Less: Cost of Goods Sold                (4,902,000)     (5,089,000)
                                       ___________     ___________
Gross Profit                           $ 6,123,000     $ 5,421,000

Operating Expenses:
  General and Administrative               728,000         790,000
  Sales                                  1,806,000       1,821,000
  Engineering                               56,000          71,000
  Rent Paid to Related Parties              19,000          41,000
                                       ___________     ___________
Total Operating Expenses               $ 2,609,000     $ 2,723,000

Income From Operations                   3,514,000       2,698,000

Other Income (Expense)
 Other                                           -           4,000
 Interest Expense                           (8,000)         (3,000)
 Dividend and Interest Income              668,000         789,000
 Gain on Investments                       384,000         460,000
 Gain on Sale of Assets                     11,000               -
                                       ___________     ___________
                                       $ 1,055,000     $ 1,250,000

Income  Before  Provisions  for
 Income Taxes                            4,569,000       3,948,000

Provision for Income Taxes
 Current Expense                         1,488,000       1,000,000
 Deferred tax (benefit) expense            (41,000)        227,000
                                       ___________     ___________
 Total Income Tax Expense                1,447,000       1,227,000

Net Income                             $ 3,122,000     $ 2,721,000


Basic and Diluted Earnings Per Share
of Common Stock:                       $      0.62     $      0.54


Weighted Average Number of
 Common Shares Outstanding               5,032,117       5,037,837


</TABLE>

<FN>
See accompanying notes to financial statements.

Page 16
<page>


<TABLE>

<CAPTION>


                         George Risk Industries, Inc.
                      Statements of Comprehensive Income
                  For the Years Ended April 30, 2014 and 2013

                                            Year           Year
                                           Ended           Ended
                                        Apr 30,2014     Apr 30, 2013
                                        ___________      As Amended
                                                        ____________

<S>                                      <C>             <C>
Net Income                               $ 3,122,000     $ 2,721,000
                                         ___________     ___________

Other Comprehensive Income, Net of Tax
 Unrealized gain (loss) on securities:
  Unrealized holding gains (losses)
   arising during period                   1,047,000         736,000
 Reclassification adjustment for
   (gains) losses included in net income    (224,000)         62,000
 Income tax expense related to other
   comprehensive income                     (344,000)       (333,000)
                                         ___________      __________

Other Comprehensive Income                   479,000         465,000

Comprehensive Income                     $3,601,000      $ 3,186,000
                                         __________      ___________
                                         __________      ___________

</TABLE>

<FN>
See accompanying notes to financial statements.



Page 17
<page>


<TABLE>

<CAPTION>

                  George Risk Industries, Inc.
              Statements of Stockholders' Equity
           For the Years Ended April 30, 2014 and 2013


                                                  Common Stock
                         Preferred Stock            Class A
                        ________________          ____________
                         Shares     Amount      Shares      Amount
<S>                    <C>          <C>         <C>          <C>



Balances, April 30,
 2012                     4,100     $ 99,000    8,502,881    $850,000

Purchases of common
 stock                        -            -            -           -

Dividend declared at
 $0.50 per common
   share outstanding          -            -            -           -

Unrealized gain (loss),
 net of tax effect            -            -            -           -

Net Income                    -            -            -           -
                       ________     ________    _________    ________
Balances, April 30,
 2013                     4,100       99,000    8,502,881     850,000
                       ________     ________    _________    ________

Purchases of common
 stock                        -            -            -           -

Dividend declared at
 $0.50 per common
   share outstanding          -            -            -           -

Unrealized gain (loss),
 net of tax effect            -            -            -           -

Net Income                    -            -            -           -
                       ________     ________    _________    ________
Balances, April 30,
 2014                     4,100     $ 99,000    8,502,881    $850,000

                       ________     ________    _________    ________
                       ________     ________    _________    ________



</TABLE>

<FN>
See accompanying notes to financial statements.

Page 18

<page>


<TABLE>

<CAPTION>

                  George Risk Industries, Inc.
          Statements of Changes in Stockholders' Equity
           For the Years Ended April 30, 2014 and 2013

                                  Accumulated
          Treasury Stock            Other
Paid-In  (Common Class A)        Comprehensive     Retained
          ______________
Capital     Shares      Amount      Income         Earnings     Total
<C>         <C>         <C>          <C>           <C>          <C>



$ 1,736,000 3,460,282 $ (3,451,000) $  278,000   $30,603,000  $30,115,000

         -      7,074      (36,000)          -             -      (36,000)



         -          -            -           -     (2,518,000)  (2,518,000)


         -          -            -      465,000             -      465,000

         -          -            -            -     2,721,000    2,721,000
__________  _________  ___________  ___________   ___________  ___________


 1,736,000  3,467,356   (3,487,000)     743,000    30,806,000   30,747,000
__________  _________  ___________  ___________   ___________  ___________

         -      5,350      (38,000)           -             -      (38,000)



         -          -            -            -    (1,511,000)  (1,511,000)


         -          -            -      479,000             -      479,000

         -          -            -            -     3,122,000    3,122,000
__________  _________  ___________  ___________   ___________  ___________
$1,736,000  3,472,706  $(3,525,000) $ 1,222,000   $32,417,000  $32,799,000
__________  _________  ___________  ___________   ___________  ___________
__________  _________  ___________  ___________   ___________  ___________


</TABLE>

See accompanying notes to financial statements.

Page 18
<page>



<TABLE>

<CAPTION>
                   George Risk Industries, Inc.
                     Statements of Cash Flows

                                           Year           Year
                                          Ended           Ended
                                       Apr 30,2014    Apr 30, 2013
                                       ___________     As Amended
                                                      ____________
<S>                                     <C>           <C>
Cash Flows from Operating Activities:
Net income                              $3,122,000    $2,721,000
Adjustments to reconcile net income
 to net cash provided by
    operating activities:
   Depreciation                            156,000       174,000
   (Gain) loss on sale of investments     (257,000)     (460,000)
   (Gain) on sale of property and
     equipment                            (127,000)            -
   Bad debt expense                              -        (2,000)
   Reserve for obsolete inventory           17,000             -
   Deferred income taxes                   (40,000)      227,000
   Changes in assets and liabilities:
    (Increase) decrease in:
     Accounts receivable                  (118,000)     (244,000)
     Inventories                          (177,000)      277,000
     Prepaid expenses                      (65,000)       80,000
     Employee receivables                   (2,000)       (1,000)
     Income tax overpayment                      -      (593,000)
    Increase (decrease) in:
     Accounts payable                       41,000       (28,000)
     Accrued expense                        19,000        47,000
     Income tax payable                    422,000             -
                                        __________    __________
    Net cash provided by (used in)
     operating activities               $2,991,000   $ 2,198,000
                                        __________    __________

Cash Flows From Investing Activities:
 Other assets manufactured and purchased    (4,000)        1,000
 Proceeds from sale of assets              127,000             -
 (Purchase) of property and equipment      (81,000)     (104,000)
 Proceeds from sale of marketable
  securities                                 5,000        89,000
 (Purchase) of marketable securities      (620,000)     (760,000)
 (Purchase) of long-term investment              -       (10,000)
 (Loans) made to employees                       -        (3,000)
 Collections of loans to employees           7,000         5,000
 (Purchase) of treasury stock              (38,000)      (36,000)
                                        __________    __________
    Net cash provided by (used in)
     investing activities                $(604,000)   $ (818,000)
                                        __________    __________
Cash Flows From Financing Activities:
 Principal payments on long-term debt            -        (4,000)
 Dividends paid                         (1,374,000)   (2,290,000)
                                        __________    __________
   Net cash provided by (used in)
    financing activities               $(1,374,000)  $(2,294,000)
                                        __________    __________
Net Increase (Decrease) in Cash and
  Cash Equivalents                     $ 1,013,000   $  (914,000)
                                        __________    __________
                                        __________    __________

<FN>
See accompanying notes to financial statements
Page 19
<page>

Cash and Cash Equivalents, beginning
 of period                             $ 4,859,000    $ 5,773,000

Cash and Cash Equivalents,
 end of period                         $ 5,872,000    $ 4,859,000
                                        __________    ___________
                                        __________    ___________
Supplemental Disclosure for Cash
 Flow Information:
  Cash Payments for:
   Income taxes paid                   $ 1,350,000    $ 1,607,000
   Interest expense                    $     8,000    $     3,000


  Cash receipts for:
   Income taxes                        $   223,000    $    19,000



</TABLE>

<FN>
See accompanying notes to financial statements
Page 20
<page>






                     George Risk Industries, Inc.
                    Notes to Financial Statements
                          April 30, 2014

1.  Nature of Business and Summary of Significant Accounting Policies

Nature of Business-The company is engaged in the design, manufacture, and
marketing of computer keyboards, push-button switches, security alarm
components, pool alarms and hydro sensors.

Cash and Cash Equivalents-The company considers all investments purchased
with a maturity of three months or less to be cash equivalents.

Allowance for Doubtful Accounts-Accounts receivable are customer
obligations due under normal trade terms.  The company sells its products
to security alarm distributors, alarm installers, and original equipment
manufacturers.  The company performs continuing credit evaluations of its
customers' financial condition and the company generally does not require
collateral.

The company records an allowance for doubtful accounts based on an analysis
of specifically identified customer balances.  The company has a limited
number of customers with individually large amounts due at any given date.
Any unanticipated change in any one of these customers' credit worthiness
or other matters affecting the collectibility of amounts due from such
customers could have a material effect on the results of operations in the
period in which such changes or events occur. After all attempts to collect
a receivable have failed, the receivable is written off. The company has
recorded an allowance for doubtful accounts of $4,500 for the year ended
April 30, 2014 and $4,000 for the year ended April 30, 2013. For the fiscal
year ended April 30, 2014 bad debt expense was a net credit of $321 due
to bad debt recoveries during the year. For the fiscal year ended April 30,
2013, bad debt expense was a net credit of $1,926.


Inventories-Inventories are stated at the lower of cost or market. Cost is
determined using the average cost-pricing method. The company uses standard
costs to price its manufactured inventories approximating average costs.

Page 21
<page>

Property and Equipment-Property and equipment are recorded at cost.
Depreciation is calculated based on the following estimated useful lives
using the straight-line method:

<TABLE>
<CAPTION>


        Classification              Useful Life     2013      2012
                                     in Years       Cost      Cost

        <S>                            <C>        <C>         <c>
        Dies, jigs, and molds          3-7        $1,599,000  $1,570,000
        Machinery and equipment        5-10        1,176,000   1,137,000
        Furniture and fixtures         5-10          147,000     147,000
        Leasehold improvements         5-32          189,000     178,000
        Buildings                       20           658,000     658,000
        Automotive and aircraft        3-5            89,000     411,000
        Software                       2-5           140,000     139,000
        Land                           N/A            13,000      13,000
                                                  __________  __________
        Total                                      4,011,000   4,253,000
        Accumulated depreciation                  (3,386,000) (3,552,000)
                                                  __________  __________
        Net                                       $  625,000  $  701,000
                                                  __________  __________
                                                  __________  __________

</TABLE>

Depreciation expense of $156,000 and $174,000 were charged to operations
for the years ended April 30 2014 and 2013, respectively.

Maintenance and repairs are charged to expense as incurred, and
expenditures for major improvements are capitalized.  When assets are
retired or otherwise disposed of, the property accounts are relieved of
costs and accumulated depreciation and any resulting gain or loss is
credited or charged to operations.

Advertising-Advertising costs are expensed as incurred and included in
selling expenses.  Advertising expense amounted to $217,000 and $243,000
for the years ended April 30, 2014 and 2013, respectively.

Income Taxes-US GAAP requires use of the liability method, whereby current
and deferred tax assets and liabilities are determined based on tax rates
and laws enacted as of the balance sheet date. Deferred tax expense
represents the change in the deferred tax asset/liability balances.

Page 22
<page>

The flow-through method of accounting for tax credits has been adopted by
the company.  Such credits are reflected as a reduction of the provision
for income taxes in the year in which they become available.

Net Income Per Common Share-Net income per common share is based on the
weighted average number of common shares outstanding during each fiscal year.
The dilutive effect of convertible preferred stock is reflected in diluted
earnings per share by application of the if-converted method.  Under this
method, preferred dividends applicable to convertible preferred stock are
added to the numerator and convertible preferred stock is assumed to have
been converted at the beginning of the period.

Accounting Estimates-The preparation of these financial statements requires
the use of estimates and assumptions including the carrying value of assets.
The estimates and assumptions result in approximate rather than exact amounts.

Financial Instruments-Financial instruments consist of cash and cash
equivalents, marketable securities, accounts receivable and accounts payable.
The carrying values of these financial instruments approximate fair value due
to their short-term nature.

Revenue Recognition-Revenue is recognized when risks and benefits in ownership
are transferred, which normally occurs at the time of shipment of products.

Comprehensive Income-US GAAP requires disclosure of total non-stockholder
changes in equity in interim periods and additional disclosures of the
components of non-stockholder changes in equity on an annual basis. Total non-
stockholder changes in equity include all changes in equity during a period
except those resulting from fiscal investments by and distributions to
stockholders.

Segment Reporting and Related Information-The Company designates the internal
organization that is used by management for allocating resources and assessing
performance as the source of the Company's reportable segments. US GAAP also
requires disclosures about products and services, geographic area and major
customers.  At April 30, 2014, the Company operated in two segments organized
by security line products and all other products. See Note 9 for further
segment information disclosures.

Page 23
<page>

Reclassifications-Certain reclassifications have been made to conform to the
current year presentation. The total net income and equity are unchanged due
to those reclassifications.

Recently Issued Accounting Pronouncements- In July 2013, the FASB issued
Accounting Standards Update No. 2013-11, Presentation of an Unreconized Tax
Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax
Credit Carryforward Exists, ("ASU 2013-11"). The objective of this update is
to eliminate the diversity in practice in the presentation of an unrecognized
tax benefit when a net operating loss carryforward, a similar tax loss or a
tax credit carryforward exists. The amendments in this update require an
entity to present an unrecognized tax benefit in the financial statements as
a reduction to a deferred tax asset for those instances described above,
except in certain situations discussed in the update. ASU 2013-11 is
effective for fiscal years, and inerim periods within those years, beginning
after December 15, 2013. The adoption of this standard is not expected to have
a material impact on the Company's financial statements.

In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue
from Contracts with Customers. The objective of this update is to provide a
robust framework for addressing revenue recognition issues and, upon its
effective date, replaces almost all existing revenue recognition guidance.
This update is effective in annual reporting periods beginning after December
15, 2016 and the interim periods within theat year. The Company is evaluating
the impact of this update on the Company's financial statements.


2.    INVENTORIES
Inventories at April 30, 2014 and 2013 consisted of the following:

<TABLE>


    <S>                                         <C>          <c>
                                                   2014        2013
                                                __________   __________

    Raw materials                               $1,575,000   $1,552,000
    Work in process                                509,000      412,000
    Finished goods                                 331,000      275,000
                                                __________   __________
                                                 2,415,000    2,239,000
                                                __________

    Less: allowance for obsolete inventory        (182,000)    (165,000)
                                                __________   __________
    Totals                                      $2,233,000   $2,074,000
                                                __________   __________
                                                __________   __________
</TABLE>

Page 24
<page>

3.      INVESTMENTS
The Company has investments in publicly traded equity securities, corporate
bonds, state and municipal debt securities, real estate investment trusts,
money markets, certificates of deposits and hedge funds. The investment in
securities, which include all investments except for the hedge funds, are
classified as available-for-sale securities, and are reported at fair value.
Available-for-sale investments in debt securities mature between May 2014 and
November 2048. The Company uses the average cost method to determine the cost
of securities sold and the amount reclassified out of accumulated other
comprehensive income into earnings.  Unrealized gains and losses are excluded
from earnings and reported separately as a component of stockholders' equity.
Dividend and interest income are reported as earned.

The Company has elected to record the investments in hedge funds at cost due to
the small ownership percentage. These investmens are reported at an aggregate
carrying amount of $727,000, as of April 30, 2014. Additionally, the
investments have been evaluated for impairment and have been determined to not
be impaired as of April 30, 2014.

As of April 30, 2014, investments consisted of the following:
<TABLE>
<S>	                 <C>	        <C>	    <C>	         <C>
		                        Gross	    Gross
	                  Cost	        Unrealized  Unrealized	 Reported
	                  Basis	        Gains	    Losses	 Value
Municipal bonds	         $ 6,771,000	$  199,000   $   (60,000) $ 6,910,000
Corporate bonds          $    30,000    $    1,000   $         -  $    31,000
REITs   	         $    56,000	$    9,000   $         -  $    65,000
Hedge Funds              $   727,000    $        -   $         -  $   727,000
Equity securities	 $12,103,000	$2,070,000   $  (120,000) $14,053,000
Money Markets and CDs	 $ 2,118,000	$        0   $         0  $ 2,118,000
Total	                 $21,805,000	$2,279,000   $  (180,000) $23,904,000
</TABLE>


The Company evaluates all investments for other-than temporary declines in
fair value, which are defined as when the cost basis exceeds the fair value for
approximately one year. The Company also evaluates the nature of the investment,
cause of impairment and number of investments that are in an unrealized
position.  When an other-than-temporary decline is identified, the Company will
decrease the cost of the investment to the new fair value and recognize a loss.
The investments are periodically evaluated to determine if impairment changes
are required. As a result of this standard, management recorded impairment
losses of $18,000 for the year ended April 30, 2014 and $20,000 for the year
ended April 30, 2013.

The following table shows the investments with unrealized losses that are not
deemed to be other-than-temporarily impaired, aggregated by investment category
and length of time that individual securities have been in a continuous
unrealized loss position, at April 30, 2014.

Page 25
<page>

<TABLE>
<CAPTION>
	            Less than 12 months	        12 months or greater	                  Total

Description	    Fair Value	Unrealized Loss	Fair Value	Unrealized Loss	 Fair Value	Unrealized Loss
<S>                 <C>         <C>             <C>             <C>              <C>            <C>
Municipal bonds	    $1,219,000	$  (33,000)	$  519,000	$  (27,000)	 $1,738,000	$   (60,000)
Equity securities   $1,682,000	$ (101,000)	$  118,000	$  (19,000)	 $1,800,000	$  (120,000)
Total	            $2,901,000	$ (134,000)	$  637,000	$  (46,000)	 $3,538,000	$  (180,000)

</TABLE>

Municipal Bonds
The unrealized losses on the Company's investments in municipal bonds were
caused by interest rate increases. The contractual terms of these investments
do not permit the issuer to settle the securities at a price less than the
amortized cost of the investment.  Because the Company has the ability to hold
these investments until a recovery of fair value occurs, which may be maturity,
the Company does not consider these investments to be other-than-temporarily
impaired at April 30, 2014.

Marketable Equity Securities
The Company's investments in marketable equity securities consist of a wide
variety of companies. Investments in these companies include growth, growth
income, and foreign investment objectives. Management has evaluated the
individual holdings, and does not consider these investments to be other-than
-temporarily impaired at April 30, 2014.

Page 26
<page>

4.    RETIREMENT BENEFIT PLAN

On January 1, 1998, the company adopted the George Risk Industries, Inc.
Retirement Savings Plan (the "Plan").  The Plan is a defined contribution
savings plan designed to provide retirement income to eligible employees
of the company and its subsidiaries.  The Plan is intended to be qualified
under Section 401(k) of the Internal Revenue Code of 1986, as amended.
It is funded by voluntary pre-tax contributions from eligible employees who
may contribute a percentage of their eligible compensation, limited and
subject to statutory limits.  The Plan is also funded by discretionary
matching employer contributions from the company.  Employees are eligible to
participate in the Plan when they have attained the age of 21 and completed
one thousand hours of service in any plan year with the company. Upon leaving
the company, each participant is 100% vested with respect to the participants'
contributions while the company's matching contributions are vested over a
six-year period in accordance with the Plan document.  Contributions are
invested, as directed by the participant, in investment funds available under
the Plan.  Matching contributions of approximately $10,000 was paid during
the fiscal year ending April 30, 2014 and $12,000 for the year ended
April 30, 2013.



5.    STOCKHOLDERS' EQUITY


Preferred Stock-Each share of the Series #1 preferred stock is convertible at
the option of the holder into five shares of Class A common stock and is also
redeemable at the option of the board of directors at $20 per share.  The
holders of the convertible preferred stock shall be entitled to a dividend at
a rate up to $1 per share annually, payable quarterly as declared by the board
of directors.  No dividends were declared or paid during the two years ended
April 30, 2014.

Convertible preferred stock without par value may be issued from time to time
as determined by the board of directors.  Shares of different series shall be
of equal rank but may vary as to terms and conditions.

Class A Common Stock-The holders of the Class A common stock are entitled to
receive dividends as declared by the board of directors.  No dividends may be
paid on the Class A common stock until the holders of the Series #1 preferred
stock have been paid. A dividend for the four prior quarters and provision has
been made for the full dividend in the current fiscal year.

During the fiscal year ended April 30, 2014, the Company purchased 5,350
shares of Class A common stock. This was initiated by stockholders
contacting the company.

Stock Transfer Agent-The Company does not have an independent stock transfer
agent. The company maintains all stock records.

Page 27
<page>

6.    EARNINGS PER SHARE

Basic and diluted earnings per share, assuming convertible preferred stock was
converted for each period presented are:
<TABLE>

<CAPTION>


                                      April 30, 2014
                           ___________________________________
                             Income       Shares     Per-Share
                           (Numerator) (Denominator)   Amount
 
                      <c>          <C>           <c>


   Net Income              $3,122,000
                           __________
                           __________

   Basic EPS               $3,122,000    5,032,117     $.6204
   Effect of dilutive
    Convertible Preferred
     Stock                          -       20,500     (.0030)
                           __________    _________     ______
     Diluted EPS           $3,122,000    5,052,617     $.6174
                           __________    _________     ______
                           __________    _________     ______


</TABLE>

<TABLE>

<CAPTION>


                                     April 30, 2013
                           ___________________________________
                             Income       Shares     Per-Share
                           (Numerator) (Denominator)   Amount
 
                      <c>          <C>           <c>


   Net Income              $2,721,000
                           __________
                           __________

   Basic EPS               $2,721,000    5,037,837     $.5401
   Effect of dilutive
    Convertible Preferred
     Stock                          -       20,500     (.0030)
                           __________    _________     ______
     Diluted EPS           $2,721,000    5,058,337     $.5371
                           __________    _________     ______
                           __________    _________     ______


</TABLE>



Page 28
<page>

7.      COMMITMENTS, CONTINGENCIES, AND RELATED PARTY TRANSACTIONS

The Company leases a building from Bonnie Risk. Bonnie Risk is a majority
stockholder, a director and employee of the company. This building contains the
Company's sales and accounting departments, maintenance department,engineering
department and some production facilities. This lease requires a minimum payment
of $1,535 on a month-to-month basis. The total lease expense for this
arrangement was $18,420 for the fiscal years ended April 30, 2014 and 2013.

One of the directors of the board, Joel Wiens, is the principal shareholder of
FirsTier Bank.  FirsTier bank is the financial institution the company uses for
its day to day banking operations. Year end balances of accounts held at this
bank are $3,879,000 for the year ended April 30, 2014 and $3,350,000 for the
year ended April 30, 2013. The Company also received interest income from
FirstTier Bank in the amount of $1,500 for the year ended April 30, 2014 and
$2,000 for the year ended April 30,2013.

Page 29
<page>

8.      INCOME TAXES

<TABLE>
<CAPTION>
Reconciliation of income taxes with Federal and State taxable income:

                                     2014              2013
                                 ____________      ____________
<S>                               <c>               <c>

 Income before income taxes        $4,569,000        $3,948,000
 State income tax deduction          (282,000)         (196,000)
 Capital loss carryforwards
  (utilized) accumulated                    -          (479,000)
 Interest and dividend income        (505,000)         (601,000)
 Domestic production activities
  deduction                          (349,000)         (284,000)
Nondeductible expenses
  and timing differences               91,000            27,000
                                   __________        __________

    Taxable income                 $3,524,000        $2,415,000
                                   __________        __________
                                   __________        __________

</TABLE>

<TABLE>
<CAPTION>
The following schedule reconciles the provision for income taxes
to the amount computed by applying the statutory rate to income
before income taxes:

<S>                                 <c>               <c>
Income before taxes at statutory
 rate                               $1,910,000        $1,650,000

Increase (decrease)income
 taxes resulting from:
  State income taxes                  (118,000)          (82,000)
  Interest and dividend income        (211,000)         (251,000)
  Domestic production activities      (146,000)         (119,000)
  Deferred taxes                       (41,000)          227,000
  Other temporary and
   permanent differences                53,000          (198,000)
                                    __________        __________

  Income tax expense                $1,447,000        $1,227,000
                                    __________        __________
                                    __________        __________


  Federal Tax Rate                        34.0%           34.0%
  State Tax Rate                           7.8%            7.8%
                                          ____            ____

  Blended statutory rate                  41.8%           41.8%
                                          ____            ____
                                          ____            ____
</TABLE>

Page 30
<page>


<TABLE>
<CAPTION>

Deferred tax asset (liabilities) consist of the following
components at April 30, 2014 and 2012:
 <S>                                               <c>               <c>

  Deferred tax current assets:
   Capital loss carryforward                       $        -        $        -
   Allowance for doubtful accounts                      2,000             2,000
   Inventory valuation                                 77,000            69,000
   Accrued vacation                                    30,000            30,000
   Accumulated unrealized (gain)/loss
    on investments                                   (878,000)         (533,000)
                                                   __________        __________

  Net deferred tax assets (liabilities)            $ (769,000)       $ (432,000)
                                                   __________        __________
                                                   __________        __________
  Deferred long-term tax assets (liabilities):
    Depreciation                                     (100,000)         (133,000)
                                                   __________        __________

   Net deferred long-term tax assets (liabilities) $ (100,000)       $ (133,000)
                                                   __________        __________
                                                   __________        __________

</TABLE>

All capital loss carry forwards were used up in prior fiscal years.


Page 31
<page>

9.    BUSINESS SEGMENTS

The following is financial information relating to industry segments:

<TABLE>
<CAPTION>


                                                 April 30,
                                            2014            2013

    <S>                                 <C>              <C>
    Net revenue:
     Security alarm products           $  9,393,000      $ 9,200,000
     Other products                       1,632,000        1,310,000
                                        ___________      ___________

    Total net revenue                   $11,025,000      $10,510,000
                                        ___________      ___________
                                        ___________      ___________

    Income from operations:
     Security alarm products            $ 2,994,000      $ 2,362,000
     Other products                         520,000          336,000
                                        ___________       __________
    Total income from operations        $ 3,514,000      $ 2,698,000
                                        ___________      ___________
                                        ___________      ___________

    Identifiable assets:
     Security alarm products            $ 3,494,000      $ 3,778,000
     Other products                       1,287,000          797,000
     Corporate general                   30,302,000       27,881,000
                                        ___________      ___________

    Total assets                        $35,083,000      $32,456,000
                                        ___________      ___________
                                        ___________      ___________
    Depreciation and amortization:
     Security alarm products            $    20,000      $    23,000
     Other products                         116,000          131,000
     Corporate general                       20,000           20,000
                                        ___________      ___________

    Total depreciation and
      amortization                      $   156,000      $   174,000
                                        ___________      ___________
                                        ___________      ___________


    Capital expenditures:
     Security alarm products            $    33,000      $    12,000
     Other products                          33,000           71,000
     Corporate general                       15,000           21,000
                                        ____________     ___________
      Total capital expenditures        $    81,000      $   104,000
                                        ____________     ___________
                                        ____________     ___________


</TABLE>

Page 32
<page>

10.    CONCENTRATIONS

The company maintains its cash balance in a financial institution in Kimball,
Nebraska.  Accounts at this institution are insured by the Federal Deposit
Insurance Corporation for up to $250,000.  For the years ended April 30, 2014
and 2013, the Company had uninsured balances of $3,708,000 and $3,100,000,
respectively.  Management believes that this financial institution is
financially sound and the risk of loss is minimal. The Company also maintains
cash balances in money market funds at the above-mentioned financial
institution. Such balances are not insured.

The Company also has cash funds with Wells Fargo with uninsured balances of
$1,743,000. Managemetn believes that this financial institution is
financially sound and the risk of loss is minimal.

The company has sales to a security alarm distributor representing 39%
of total sales for the year ended April 30, 2014 and 40% for the year ended
April 30, 2013. This distributor accounted for 52% and 55% of accounts
receivable at April 30, 2014 and 2013, respectively.

Security switch sales made up 85% of the total sales for the fiscal year
ended April 30, 2014 and and 84% of the total sales for the fiscal year ended
April 30, 2013.

11. Fair Value Measurements

The carrying value of our cash and cash equivalents, accounts receivable and
accounts payable approximate their fair value due to their short term nature.
The fair value of our investments is determined utilizing market based
information.  Fair value is the price that would be received from selling an
asset or paid to transfer a liability in an orderly transaction between market
participants at the measurement date.  When determining the fair value
measurements for assets and liabilities, which are required to be recorded at
fair value, we consider the principal or most advantageous market in which we
would transact and the market-based risk measurements or assumptions that
market participants would use in pricing the asset or liability, such as
inherent risk, transfer restrictions, and credit risk.

US GAAP establishes a fair value hierarchy that prioritizes the inputs to
valuation techniques used to measure fair value. The hierarchy gives the
highest priority to unadjusted quoted prices in active markets for identical
assets or liabilities (Level 1 measurements) and the lowest priority to
unobservable inputs (Level 3 measurements). The levels of the fair value
hierarchy under US GAAP are described below:

Page 33
<page>

Level 1	Valuation is based upon quoted prices for identical instruments traded
        in active markets.


Level 2	Valuation is based upon quoted prices for similar instruments in active
        markets, quoted prices for identical or similar instruments in markets
        that are not active, and model-based valuation techniques for which all
        significant assumptions are observable in the market.

Level 3	Valuation is generated from model-based techniques that use significant
        assumptions not observable in the market. These unobservable assumptions
        reflect our own estimates of assumptions that market participants would
        use in pricing the asset or liability.  Valuation techniques include use
        of option pricing models, discounted cash flow models and similar
        techniques.

Marketable Securities
As of April 30, 2014, our investments consisted of money markets, publicly
traded equity securities as well as certain state and municipal debt securities.
Our marketable securities are valued using third-party broker statements. The
value of the majority of securities is derived from quoted market information.
The inputs to the valuation are classified as Level 1 given the active market
for these securities; however if an active market does not exist, which is the
case for municipal bonds, the inputs are recorded as Level 2.

Fair Value Hierarchy
The following tables set forth our assets and liabilities measured at fair value
on a recurring basis and a non-recurring basis by level within the fair value
hierarchy.  As required by US GAAP, assets and liabilities are classified in
their entirety based on the lowest level of input that is significant to the
fair value measurement.

<TABLE>
<CAPTION>
                                     Assets Measured at Fair Value on a Recurring Basis
                                                     As of April 30, 2014

 <S>                                 <C>             <C>        <C>         <C>
                                     Level 1         Level 2    Level 3     Total
 Assets:
  Money Markets and CDs             $ 2,117,000            _         _      $ 2,117,000
  Equity Securities                 $14,053,000            -         _      $14,053,000
  Corporate Bonds                   $    31,000            -         -      $    31,000
  Municipal Bonds and REITS               -          $6,975,000      _      $ 6,975,000
 Total fair value of assets
  measured on a recurring basis     $16,201,000      $6,975,000      -      $23,176,000

</TABLE>

Page 34
<page>


Item 9  Disagreements on Accounting and Financial Disclosures
There were no disagreements with accountants on accounting and financial
disclosure.


Item 9A 	Controls and Procedures

Evaluation of disclosure controls and procedures:
________________________________________________

Based on their evaluation of our disclosure controls and procedures (as defined
in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of April 30, 2014,
our president and chief executive officer (also working as our chief financial
officer) has concluded that our disclosure controls and procedures are effective
such that information required to be disclosed by us in the reports that we file
or submit under the Exchange Act is (i) recorded, processed, summarized and
reported within the time periods specified in the Securities and Exchange
Commission's rules and (ii) accumulated and communicated to our management,
including our chief executive officer (also working as our chief financial
officer), as appropriate to allow timely decisions regarding disclosure.
A control system cannot provide absolute assurance, however, that the objectives
of the control systems are met, and no evaluation of controls can provide
absolute assurance that all control issues and instances of fraud, if any,
within a company have been detected.

Internal control over financial reporting:
__________________________________________

The Company's management is responsible for establishing and maintaining
adequate internal controls over financial reporting for the Company. Due to
limited resources, Management conducted an evaluation of internal controls based
on criteria established in Internal Control - Integrated Framework issued by the
Committee of Sponsoring Organizations of the Treadway Commission ("COSO"). The
results of this evaluation determined that our internal control over financial
reporting was ineffective for the years ended of April 30, 2014 and 2013, due to
a material weakness.  A material weakness in internal control over financial
reporting is defined as a deficiency, or a combination of deficiencies,
in internal control over financial reporting, such that there is a reasonable
possibility that a material misstatement of the Company's annual or interim
financial statements will not be prevented or detected on a timely basis.  A
significant deficiency is a deficiency, or a combination of deficiencies, in
internal control over financial reporting that is less severe than a material
weakness, yet important enough to merit attention by those responsible for
oversight of our financial reporting.

Page 35
<page>

Management's assessment identified the following material weakness in internal
control over financial reporting:

1. The small size of our Company limits our ability to achieve the desired
level of separation of internal controls and financial reporting, particularly
as it relates to financial reporting and deferred taxes.  Due to the passing
of our CEO, the current CEO and CFO roles are being fulfilled by the same
individual. We do not have an audit committee. These weaknesses contributed
to an error in the deferred tax calculation for the year ended April 30, 2013.
The 2013 financial statements were amended for this error.

As a result of the material weakness in internal control over financial
reporting described above, the Company's management has concluded that, as of
April 30, 2014 and 2013, the Company's internal control over financial
reporting was not effective based on the criteria in Internal Control
- Integrated Framework issued by the COSO.

We will continue to follow the standards for the Public Company Accounting
Oversight Board (United States) for internal control over financial reporting
to include procedures that:

1) Pertain to the maintenance of records in reasonable detail that fairly
reflect the transactions and dispositions of the Company's assets;

2) Provide reasonable assurance that transactions are recorded as necessary to
permit preparation of the financial statements in accordance with generally
accepted accounting principles, and that receipts and expenditures are being
made only in accordance with authorizations of management and the Board of
Directors; and

3)Provide reasonable assurance regarding prevention or timely detection of
unauthorized acquisition, use, or disposition of the Company's assets that
could have a material effect on the financial statements.

The Company has hired a controller, effective May, 2014 and all amended
financial reports have been filed.

This annual report does not include an attestation report of the Corporation's
registered public accounting firm regarding internal control over financial
reporting.  Management's report was not subject to attestation by the
Corporation's registered public accounting firm pursuant to Section 404(c) of
the Sarbanes-Oxley Act of 2002, as amended, that permit the Corporation to
provide only the management's report in this annual report.


Page 36
<page>


Item 9B    Other Information

None.

Page 36
<page>

Part III


Item 10  Directors and Executive Officers of the Registrant
(a & b)  Identification of Directors and Executive Officers

All of the executive officers of the corporation serve at the pleasure of the
board of directors and do not have fixed terms.

The following information as of April 30, 2014 is furnished with respect to
each director and executive officer:

<TABLE>
<CAPTION>

<S>                <C>                                       <C>    <C>
                                                                    Director or
Name               Principal Occupation or Employment        Age    Officer Since


Stephanie M. Risk-  Chairman of the Board, Chief Executive    42    August 8, 1999
McElroy             Officer and Chief Financial Officer

Sharon Westby      Secretary/Treasurer                        62    June 16, 2006

Jerry Andersen     Director, retired                          83    August 28, 1978

Donna Debowey      Director, retired GRI plant manager        76    July 12, 2005

Joel H. Wiens      Director, FirsTier Banks                   84    September 6, 2007

Bonnie P. Risk     Director, Stock Transfer Agent at GRI      64    March 15, 2013

</TABLE>


The following director compensation table is furnished with respect to each
director that served during the year ended April 30, 2014:

<TABLE>
<CAPTION>

Name	           Director's    Stock    Option   Non-equity      Non-qualified
                   Fees Paid     Awards   Awards   incentive       deferred
                                                   plan            compensation
                                                   compensation	   earnings	 Total
<S>                <C>           <c>      <C>      <C>             <c>           <C>
Stephanie Risk (1)   --           --       --       --               --            --
Sharon Westby  (1)   --           --       --       --               --            --
Jerry Andersen (2) $ 150.00       --	   --	    --	             --	         $ 150.00
Donna Debowey  (2) $ 150.00       --	   --	    --	             --	         $ 150.00
Joel H. Wiens  (2) $ 150.00       --	   --	    --	             --	         $ 150.00
Bonnie P. Risk (1)   --           --       --       --               --            --

</TABLE>

The inside directors (1), or employees of the company, do not receive additional
compensation for their services. Outside directors (2) are paid $150 per meeting
for their services.

Page 37
<page>

(c)  Identification of Certain Significant Employees
None.

(d)  Family Relationships
Stephanie Risk-McElroy and Bonnie P. Risk have a daughter-mother relationship.

(e)  Business Experience of Directors and Executive Officers

Stephanie Risk-McElroy, Chairman of the Board, Chief Executive Officer and Chief
Financial Officer, has over twenty years of experience in the accounting
field. Mrs. Risk-McElroy graduated from Hastings College with a degree in
Accounting. Stephanie worked for Platte Valley Sales from May 1990 until January
1997 as a staff accountant. In 1997, she pursued her career with an accounting
manager position at Kershner's Auto Korner in Hastings, Nebraska. She joined the
accounting staff at GRI in 1999 and then was promoted to CFO upon retirement of
the prior CFO. Upon the death of her father, Ken R. Risk, in February, 2013, she
was appointed to the position of Chairman of the Board and Chief Executive
Officer.

Ms. Risk-McElroy serves on the Board of Directors of GRI, as a direct link to
the financial condition of the company.  She and her staff oversee all the
accounting obligations of the Company.  She has knowledge and experience in
business outside of the company that makes her an asset to the Board. And with
her new appointment as President, she oversees all the day to day operations as
well.

Sharon Westby, the corporate secretary, worked at GRI right after high school
for a couple of years as the personal secretary to the founder of the company,
George Risk, who was president and CEO. Before she returned to the company in
1982, Sharon was a Clerk Steno 1 at Jackson County Welfare in Kansas City, MO,
worked in medical records at the Kimball County Hospital in Kimball, NE, and
also managed motels in Texas and Nebraska.  She is the Executive Assistant to
the President and CEO and Sales Administrator of the Keyboard and Switch
division of GRI.

Ms. Westby continues in her position on the Board of Directors at GRI with over
27 years of experience with the company.  She has seen the company through many
years of ups and downs, has great knowledge of her product line and is very
customer oriented in trying to sell her products to the "non-security use"
industry.

Jerry Andersen, director, worked in the banking industry from 1967 until his
retirement in August 2000. He was the Senior Vice President at American National
Bank in Kimball, NE as well as serving several years in high positions at First
State Bank in Kimball.  His position with the bank for many years was as loan
officer and for the last four years he held the position of Compliance Officer.

Mr. Andersen has served many years on the Board of Directors at GRI. He brings
knowledge in financial and business matters to the table and although retired,
he still has an active interest in the success of the company.

Page 38
<page>

Donna Debowey, director, worked in various retail stores and restaurants until
she started at GRI in 1968.  She started on the production line, but quickly
worked her way up the ranks.  She has been a Production Line Supervisor,
Director of Quality Control and was named Plant Manager and Senior Vice
President in 1998. She held that position until her retirement in 2003.

Ms. Debowey made the transition from employee of GRI to a member of the Board of
Directors with no hesitation after her retirement.  She brings her 40+ years of
experience in the industry to the table and has a vested interest in seeing the
continued success of the company that she helped to build.

Joel H. Wiens, Director, is an entrepreneur with many business interests. He is
a director and principal shareholder of FirsTier Banks Nebraska/Wyoming,
director of FirsTier II BanCorporation (which owns FirsTier Bank Nebraska/
Wyoming), Chairman of Rite-A-Way Industries (lodging and hospitality
industries), real estate investments, and ranching and livestock.

Mr. Wiens took his place on the Board of Directors when his predecessor Mike
Nelson, (who is affiliated with Mr. Wiens' financial institutions) retired from
the Board to take another position within the banks and moved away.  Joel's
knowledge and experience in business and industry span 50+ years and serves as a
valuable asset to GRI.

Bonnie P. Risk, Director, attended Wayne State College in Wayne, Nebraska. Upon
returning back home to Columbus, NE, she worked in factory positions. Upon her
marriage to Ken Risk, she became a homemaker, raising 3 children and working at
several sales positions. In 1981, she and Ken started Platte Valley Sales in
Hastings, Nebraska, and her expertise was in accounting and sales. For 8 years,
she ran the Hastings business while Ken devoted his time to both GRI in Kimball
and Platte Valley Sales in Hastings. Ken and Bonnie moved to Kimball in 1997. In
1998, she began at GRI in sales support. She continues in sales support, and
became the company stock transfer agent in 2004 upon retirement of Eileen Risk
and is an assistant to the chief financial officer.

(f)  Involvement in Certain Legal Proceedings

None.


(g)  Promoters and Control Persons

None.


Page 39
<page>


Compliance with Section 16(a) of the Securities Exchange Act of 1934

Section 16(a) of the Exchange Act requires our executive officers and directors
and persons who own more than 10% of a registered class of our equity securities
to file with the SEC initial statements of beneficial ownership, reports of
changes in ownership and annual reports concerning their ownership of our common
stock and other equity securities, on Forms 3, 4 and 5 respectively.  Executive
officers, directors and greater than 10% shareholders are required by the SEC
regulations to furnish us with copies of all Section 16(a) reports that they
file.

Based solely on our review of copies of the Section 16(a) reports filed for the
fiscal year ended April 30, 2014, we believe that all filing requirements
applicable to our officers, directors, and greater than 10% beneficial owners
were complied with.


            Code of Ethics and Code of Business Conduct

The company does not have a written code of ethics at this time. The company is
a small business and employees know that the President of the company must
approve all material business. The company also has checks and balances to make
sure that there is not any fraud or illegal activities taking place.


                      Corporate Governance

Nominating and Compensation Committees

We do not have standing nominating or compensation committees, or committees
performing similar functions.  Our Board of Directors believes that it is not
necessary to have a standing compensation committee at this time because our
Board of Directors adequately performs the functions of such committee.

Our Board of Directors also is of the view that it is appropriate for us not to
have a standing nominating committee because our Board of Directors has
performed and will perform adequately the functions of a nominating committee.
Our Board of Directors has not adopted a charter for the nomination committee.
There have not been any defined policy or procedure requirements for
stock-holders to submit recommendations or nomination for directors.  Our Board
of Directors does not believe that a defined policy with regard to the
consideration of candidates recommended by stockholders is necessary at this
time because we believe that, given the early stages of our development, a
specific nominating policy would be premature and of little assistance until our
business operations are at a more advanced level.

Page 40
<page>

Audit Committee

We do not have a standing audit committee at the present time.  Our Board of
Directors has determined that we do not have a board member that qualifies as an
"audit committee financial expert" as defined in Item 401(h) of Regulation S-K,
nor do we have a board member that qualifies as "independent" as the term is
used in Item 7(d)(3)(iv) of Schedule 14A under the Securities Exchange Act of
1934, as amended.

Other Committees

All proceedings of our Board of Directors for the year ended April 30, 2014 were
conducted by resolutions consented to in writing by our directors and filed with
the minutes of the proceedings of the Board of Directors. Our Company currently
does not have any committees.


Page 41
<page>


Item 11  Executive Compensation

The following table sets forth certain information regarding the compensation
paid to or accrued by the company for the chief executive officer for services
rendered in all capacities during each of the company's fiscal years ended
April 30, 2014 and 2013 (no other officer had compensation over $100,000):

<TABLE>
<CAPTION>
                                                                             Change
                                                                           in Pension
                                                                            Value and
                                                                           Non-qualified
Name and                                                    Non-Equity      Deferred     All Other
principal                                  Stock    Option  Incentive Plan Compensation  Compen-
position       Year     Salary   Bonus     Awards   Awards  Compensation   Earnings      sation    Total
______         ____    ______    _____     _____    ____    ________        ________    ________  ________
<S>            <C>     <C>       <C>       <c>      <c>     <c>            <c>          <c>       <c>
Bonita Risk,   2014    $36,000   $ --       --      --      --              --          $106,000  $142,000
Director
Shareholder
Employee


</TABLE>



Bonnie Risk received a base salary and bonus/commission based on a percentage
of sales for the year.

There were no other officers compensated in excess of $100,000 for the fiscal
year ended April 30, 2014.

Page 42
<page>


Item 12  Security Ownership of Certain Beneficial Owners and Management


The following table sets forth certain information regarding our Common Stock
beneficially owned as of April 30, 2014, for (i) each stockholder known to be
the beneficial owner of 5% or more of our outstanding Common Stock, (ii) each
executive officer and director, and (iii) all executive officers and directors
as a group. In general, a person is deemed to be a beneficial owner of a
security if that person has or shares the power to vote or direct the voting
of such security, or the power to dispose or to direct the disposition of such
security. A person is also deemed to be a beneficial owner of any securities
of which the person has the right to acquire beneficial ownership within 60
days. Share of Common Stock subject to options, warrants or convertible
securities exercisable or convertible within 60 days are deemed outstanding for
computing the percentage of the person or entity holding such options, warrants
or convertible securities but are not deemed outstanding for computing the
percentage of any other person. Percentages are determined based on 5,030,175
shares of Common Stock of the Company issued and outstanding and less treasury
shares as of April 30, 2014. To the best of our knowledge, subject to community
and marital property laws, all persons named have sole voting and investment
power with respect to such shares, except as otherwise noted.


<TABLE>
<CAPTION>
Name and Address                                     Number of  Shares      % of Class
of Beneficial Owner (1)                              of Common Stock (2)      of Stock
                                                                          Outstanding (3)

<S>                                                  <C>                   <c>
Ken R. Risk Irrevocable Trust, Bonita Risk, Trustee  2,187,056             43.4%
Stephanie M. Risk-McElroy - Chairman, CEO & CFO          1,775             Less than 1%
Donna Debowey - Director                                   500             Less than 1%
Bonnie Risk - Director                                  28,685             Less than 1%
Bonita Risk Family Irrevocable Trust                   732,470             14.5%
Sharon Westby - Secretary                                  250             Less than 1%
Daniel Douglas - Vice President, Materials                 250             Less than 1%

All Officers and Directors as a group
 (5 persons and 2 trust)                             2,950,986             58.6%

RWWM, Inc.
3260 Penryn Road
Suite 100
Loomis, CA 95650                                       291,743             5.79%


</TABLE>

(1) unless otherwise indicated, the address of the named beneficial owner is
 George Risk Industries, Inc., 802 S. Elm Street, Kimball, NE 69145

(2) Security ownership information for named beneficial owners (other than
executive officers and directors of the Company) is taken from statements
filed with the Securities and Exchange Commission pursuant to information
made known by the Company and from the Company's transfer agent.

(3) Based on the net shares outstanding as of April 30, 2014. This consists
of Common Shares issued and outstanding (8,502,881) less treasury shares
(3,472,706).

Page 43
<page>

Changes in Control
We are not aware of any arrangements, including any pledge by any person of
our securities, the operation of which may result in a change in control of
the Company.


Item 13  Certain Relationships and Related Party Transactions
During each of three years ended April 30, 2014, 2013, and 2012, the company
executed transactions with related entities and individuals.  Each of the
transactions was in terms at least as favorable as could be obtained from
unrelated third parties.

<TABLE>
<CAPTION>

                                <c>             <c>             <c>
Related Party                      2014            2013            2012

Airplane Lease
  Ken R. Risk,
  Former President and CEO         $        -      $   22,500      $   27,000


Building and Warehouse
 Leases/Rentals

 Ken R. Risk,
 Former President and CEO          $        -      $   15,350      $   18,420

 Bonnie Risk, Director             $   18,420      $    3,070              -

Bank Balances

 Joel Wiens, Director              $3,878,793      $3,349,596       $4,818,466

Interest Income

 Joel Wiens, Director              $    1,543      $    2,211       $    3,150


</TABLE>

Page 44
<page>


Item 14  Principal Accountant Fees and Services
1)Audit Fees

For each of the last two fiscal years the company incurred aggregate fees and
expenses for professional services rendered by our principal accountants for the
audit of our annual financial statements and review of our financial statements
for Form 10-Q.  The amounts are listed below:

     FYE 2014  $39,000     Haynie & Company
     FYE 2013  $38,000     Haynie & Company


2) Audit-Related Fees

The company incurred aggregate fees and expenses for professional services
rendered by our principal accountants for the audit of the company's employee
benefit plan.  The amounts are listed below:

     FYE 2014   $ 6,000    Haynie & Company
     FYE 2013   $ 6,000    Haynie & Company

3) Tax Fees

The company incurred aggregate fees or expenses for professional services
rendered by our principal accountants for tax compliance, tax advice, and
tax planning for the last two fiscal years.  The amounts are listed below:

     FYE 2014   $ 5,070    Haynie & Company
     FYE 2013   $ 3,945    Haynie & Company


4)All Other Fees

There were no other fees incurred during each of the last two fiscal years.

5) The Board of Directors, considered whether, and determined that,
the auditor's provisions of non-audit services were compatible with
maintaining the auditor's independence.  All the services described above
were approved by the Board of Directors pursuant to its policies and
procedures.

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Part IV

Item 15  Exhibits and Reports on Form 8-K


3.(1).a   Articles of Incorporation - Filed as Exhibit 5 to the
          Registrant's Form 10-K for the fiscal year ended
          April 10, 1970, and incorporated by reference herein

3.(i).b   Certificate of Amendment to the Articles of
          Incorporation of the Registrant - Filed as Exhibit 1.2
          to the Registrant's Form 10-K for the fiscal year
          ended April 30, 1971, and incorporated by reference
          herein

3.(ii).c  By-laws - Filed as Exhibit 1.3 to the Registrant's Form
          10-K for the fiscal year ended April 10, 1971, and
          incorporated by reference herein

10.1      Vendor agreement dated as of February 16, 2011 between Honeywell
          International, Inc., acting through the ADI business of its Security
          Group ("ADI") and George Risk Industries, Inc. - filed herewith (see
          footnote below)

10.2      8-k for special dividend

10.3      8-K Ken Risk death

31.1   Certification pursuant to Rule 13a-14(a) of the Chief Executive Officer
        (Principal Financial and Accounting Officer)

32.1   Certification pursuant to 18 U.S.C. 1350 of the Chief Executive Officer
        (Principal Financial and Accounting Officer)


<FN>
Portions of this exhibit have been omitted pursuant to a request for
confidential treatment under Rule 24b-2 under the Securities Exchange Act of
1934. The request is currently under review.

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SIGNATURES


Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, as amended, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.

/s/  Stephanie Risk-McElroy                                    Date
Stephanie Risk-McElroy, President and Chairman of the Board    August 13, 2014




Pursuant  to  the  requirements  of  the Securities  Exchange Act
of 1934, this  Report  has been  signed  below  by the  following
persons on   behalf  of  the Registrant and in the capacities and
on the  dates  indicated.



/s/ Stephanie M. Risk-McElroy   President and Chairman     Date
Stephanie Risk-McElroy          of the Board               August 13, 2014



/s/ Jerry Andersen       Director                          Date
Jerry Andersen                                             August 13, 2014


/s/ Joel H. Wiens        Director                          Date
Joel H. Wiens                                              August 13, 2014


/s/ Donna Debowey        Director                          Date
Donna Debowey                                              August 13, 2014

/s/ Bonnie P. Risk       Director                          Date
Bonnie P. Risk                                             August 13, 2014

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