# EDGAR Filing Document

**Accession Number:** 0000095572
**File Stem:** 0001213900-26-032486
**Filing Date:** 2026-3
**Character Count:** 326940
**Document Hash:** baa401aac75c1127464b66cc95f1d246
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-032486.hdr.sgml**: 20260323

**ACCESSION NUMBER**: 0001213900-26-032486

**CONFORMED SUBMISSION TYPE**: 10-K

**PUBLIC DOCUMENT COUNT**: 90

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260323

**DATE AS OF CHANGE**: 20260320

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** KiNRG, Inc.
- **CENTRAL INDEX KEY:** 0000095572
- **STANDARD INDUSTRIAL CLASSIFICATION:** GOLD & SILVER ORES [1040]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 826008752
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-53035
- **FILM NUMBER:** 26779465

**BUSINESS ADDRESS:**
- **STREET 1:** 839 BESTGATE ROAD
- **STREET 2:** SUITE 400
- **CITY:** ANNAPOLIS
- **STATE:** MD
- **ZIP:** 21401
- **BUSINESS PHONE:** 443-227-4545

**MAIL ADDRESS:**
- **STREET 1:** 839 BESTGATE ROAD
- **STREET 2:** SUITE 400
- **CITY:** ANNAPOLIS
- **STATE:** MD
- **ZIP:** 21401

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SOLAR WIND ENERGY TOWER, INC.
- **DATE OF NAME CHANGE:** 20130311

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CLEAN WIND ENERGY TOWER, INC.
- **DATE OF NAME CHANGE:** 20110121

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SUPERIOR SILVER MINES INC
- **DATE OF NAME CHANGE:** 20000101

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**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 10-K**

☒ **ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the fiscal year ended December 31, 2025**

**or**

☐ **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the transition period from &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;** 

**Commission File Number: 000-09376**

**KiNRG, Inc.** 

(Exact Name of Registrant as Specified in Its Charter)

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| | |
|:---|:---|
| Nevada | 82-6008752 |
| (State or other jurisdiction of | (I.R.S. Employer |
| incorporation or organization) | Identification No.) |

---

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| | |
|:---|:---|
| **1213 Culbreth Drive Suite 103**<br> **Wilmington, North Carolina** | 28405 |
| (Address of Principal Executive Offices) | (ZIP Code) |

---

**910-509-7183**

(Registrant's telephone number, including area code)

Securities to be registered under Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |

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Securities Registered Pursuant to Section 12(g) of the Act:

**Common Stock, par value $0.0001 per share** 

(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 ☒

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

Yes ☐ No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 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 ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes ☒ No ☐

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

---

| | |
|:---|:---|
| Large accelerated filer ☐ | Accelerated filer ☐ |
| Non-accelerated filer ☒ | Smaller reporting company ☒ |
|  | Emerging Growth Company ☒ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☐

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

Indicate by checkmark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).

Yes ☐ No ☒

The aggregate market value of the voting and non-voting stock held by non-affiliates was approximately $27,172,316 as of June 30, 2025, based upon a price of $1.00 per share, as determined by the Company's board of directors, for the registrant's common stock on such date.

On March 18, 2026, a total of 56,900,743 shares of our common stock were outstanding.

**TABLE OF CONTENTS**

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| | | |
|:---|:---|:---|
|  |  | PAGE |
|  | [PART I](#a_025) |  |
| Item 1. | [Business](#a_001) | 1 |
| Item 1A. | [Risk Factors](#a_002) | 6 |
| Item 1B. | [Unresolved Staff Comments](#a_003) | 19 |
| Item 1C. | [Cybersecurity](#a_004) | 19 |
| Item 2. | [Properties](#a_005) | 19 |
| Item 3. | [Legal Proceedings](#a_006) | 19 |
| Item 4. | [Mine Safety Disclosures](#a_007) | 19 |
|  | [PART II](#a_026) |  |
| Item 5. | [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](#a_008) | 20 |
| Item 6. | [Reserved](#a_009) | 21 |
| Item 7. | [Management's Discussion and Analysis of Financial Condition and Results of Operations](#a_010) | 21 |
| Item 7A. | [Quantitative and Qualitative Disclosures About Market Risk](#a_011) | 27 |
| Item 8. | [Financial Statements and Supplementary Data](#a_012) | F-1 |
| Item 9. | [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](#a_013) | 28 |
| Item 9A. | [Controls and Procedures](#a_014) | 28 |
| Item 9B. | [Other Information](#a_015) | 28 |
| Item 9C. | [Disclosures Regarding Foreign Jurisdictions that Prevent Inspections](#a_016) | 28 |
|  | [PART III](#a_027) |  |
| Item 10. | [Directors, Executive Officers and Corporate Governance](#a_017) | 29 |
| Item 11. | [Executive Compensation](#a_018) | 33 |
| Item 12. | [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](#a_019) | 37 |
| Item 13. | [Certain Relationships and Related Transactions, and Director Independence](#a_020) | 38 |
| Item 14. | [Principal Accountant Fees and Services](#a_021) | 39 |
|  | [PART IV](#a_028) |  |
| Item 15. | [Exhibits and Financial Statement Schedules](#a_022) | 40 |
| Item 16. | [Form 10-K Summary](#a_023) | 41 |
|  | [Signatures](#a_024) | 42 |

---

i

**Cautionary Note on Forward-Looking Statements**

This Annual Report on Form 10-K contains information that may not be historical facts but should be considered to be "forward-looking statements" as that term is defined by the federal securities laws. All forward-looking statements are based upon current expectations and various assumptions and apply only as of the date that this document is written. The Company's expectations, beliefs, and projections are expressed in good faith, and the Company believes there is a reasonable basis for them. However, there can be no assurance that these expectations, beliefs and projections will be achieved or if they are achieved that the forward-looking statements contained herein will come to fruition.

Forward-looking statements are generally identified by the words "may", "will", "could", "would", "should", "expect", "intend", "plan", "anticipate", "hope", "believe", "estimate", "predict", "likely", "project", "potential", "continue", "ongoing", "forecast", "strategy" as well as variations of such words or similar expressions.

Forward-looking statements involve known and unknown risks, future risks, uncertainties, matters which are beyond the Company's control, and any or all of these or other factors could cause actual results or plans to differ materially from those expressed, implied or contemplated. The forward-looking information is based on various factors, including but not limited to, economic, legislative, industry, and other circumstances, and is derived using numerous assumptions. The identification and interpretation of data and other information and their use in developing and selecting assumptions from and among reasonable alternatives require the exercise of judgment. To the extent that the assumed events do not occur, the outcome may vary substantially from anticipated or projected results, and, accordingly, no opinion is expressed on the likelihood of achieving the performance enumerated in those forward-looking statements.

These forward-looking statements reflect the Company's current views about future events and are subject to risks, uncertainties and assumptions. Forward-looking statements include, but are not limited to, statements concerning the Company's

● business plans and strategy;

● projected profitability, performance, or cash flows;

● future capital expenditures;

● growth strategy, including the ability to grow organically and through mergers and acquisitions ("M&A");

● anticipated financing needs;

● business trends;

● capital allocation strategy;

● liquidity and capital management; and

● other information that is not historical information.

There are a number of risks, uncertainties, and other important factors that could cause actual results to differ materially from those suggested by the Company's forward-looking statements, including, but not limited to, those set forth in "Item 1. Business" and "Item 1A. Risk Factors" of this Form 10-K. All forward-looking statements are expressly qualified in their entirety by such cautionary statements. The Company undertakes no obligation to update, revise or publicly release the results of any revision to any forward-looking statements that have been made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events, except as may be required by law. Given these risks and uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements.

*Unless the context provides otherwise, all references in this this Annual Report on Form 10-K to "KiNRG," "we," "us," "our," the "Company," or similar terms, refer to KiNRG, Inc. and its directly and indirectly owned subsidiaries on a consolidated basis.*

ii

**PART I**

***Item 1. Business***

**Overview**

Our core objective and focus is to become a leading provider of clean efficient green energy and green hydrogen to the world communities at a reasonable cost without the destructive residuals of fossil fuel, while continuing to generate innovative technological solutions for today and tomorrow's electrical power needs.

We have assembled a team of experienced business professionals, engineering and scientific consultants with the proven ability to bring the idea to market. We have filed and been issued patents.

We have designed, engineered, developed and are preparing to construct both smaller and large HydroThermal Reactors (HTR) that use benevolent, non-toxic natural elements to generate electricity economically by integrating and synthesizing numerous proven as well as emerging technologies. In addition to constructing smaller and large HTR's in the United States and abroad, the Company intends to establish partnerships at home and abroad to propagate these systems and meet increasing global demand for electricity. The Company is developing a smaller "modular" reactor to support AI data centers and other applications where a constant 24/7/365 base load is required. The Company has been focused on retooling the large HTRs and is concentrating on the smaller HTR's which will produce far less total annual mega watt hours but are designed to meet the needs of emerging AI data center energy requirements, which require a base load of energy 24/7/365. The large HTR's is better suited to support the green hydrogen market. The smaller modular HTR will require less than half of the concrete needed for the large HTR, a quarter of the generating capacity, one third of the water and can be constructed in less than half the time.

The large HTR is estimated to cost $2.2 billion and requires 36 months to construct. The large HTR is designed to generate the maximum amount of energy over the year by utilizing the hottest and driest hours during the year which require the taller distance for the reactor to accommodate the evaporative process. Combining the large HTR with a Green Hydrogen production facility (which costs approximately $1.4 billion and would be developed by others), seeks to produce Green Hydrogen at a competitive cost.

The smaller HTR is estimated to cost less than $1.5 billion. Unlike the taller HTR, it is designed to maximize production during the coolest hours of the year and support a base load required by data centers. The reactor's height is shortened to accommodate the shorter distance to support the evaporative process for cooler and more damp conditions. By comparison, the smaller HTR can be constructed in 12 to 15 months, uses less water and can be adapted to more climates. When connected to a data center (by others) the smaller HTR is projected to produce 150 MW's to 200 MW's of reliable power, 24/7/365, and by-pass the need for the data center to require power from the grid. After completion of construction, the reactors will be immediately operational. Each of the individual operating systems is tested and operational as part of the construction completion process. Those systems include the water injection system, turbine and hydraulic pressure system, generator production system, water collection and pumping system. The reactor is simply activated by the water injection system, and the entire reactor is immediately operational. However, the timeline to full operational status could be affected by factors such as final local inspections, interconnection testing with any co-located facilities (e.g., data centers or hydrogen production plants), or unforeseen commissioning delays, which we estimate could add several months in some cases, though we anticipate minimal delays given the integrated testing during construction.

The Company intends to pursue project financing to fund the construction of both its smaller and large downdraft renewable energy towers (collectively, the "HTRs"). Obtaining such project financing is expected to be contingent upon the Company entering into long-term power purchase agreements (also known as off-take agreements) with customers for each project. These agreements would guarantee the purchase and price of the energy produced, thereby providing a basis for ensuring that any debt associated with the project financing can be repaid. This method of financing is commonly used for renewable energy projects in the United States. If the Company is required to raise equity capital in connection with project financing, it intends to pursue equity investors for individual HTR projects and may seek assignments of proceeds from available investment tax credits or production tax credits. There can be no assurance that project financing will be available on acceptable terms or at all, or that any required equity capital or tax credits will be obtainable, which could materially impact the Company's ability to develop and construct its HTRs.

Permitting for smaller and large HTR's varies from state to state and country to country. In the United States, because the HTR has no carbon or toxic emission, there are no time-consuming Federal air permits required under laws such as the Clean Air Act. Other federal approvals, such as those related to water resources on federal lands (e.g., under the Bureau of Land Management if applicable) or environmental reviews under the National Environmental Policy Act (NEPA) or Endangered Species Act, are not anticipated based on our current design, but could arise depending on site-specific factors like proximity to protected habitats or federal waterways. Projects are "Behind the Meter" where no rights of way beyond the project site are required and they can be permitted by local jurisdictions. Local permits will vary depending on local procedures, rules and regulations. States will not require emission permits because the reactors have zero carbon emissions. The reactors will require standard construction permits conforming to local codes and water permits which will also vary from state to state as well as local jurisdictions. For construction permits, the typical process involves submitting site plans and engineering designs to local building departments for review, potential public comment periods, and inspections during construction, with timelines generally ranging from 3-12 months depending on jurisdiction complexity. Water permits, which may involve demonstrating sustainable sourcing and usage, are typically handled by state agencies (e.g., the California State Water Resources Control Board if sited in California) and could take 3-18 months, including assessments of water rights, availability, and environmental impact. In California, where we are investigating feasibility, additional state-level reviews under the California Environmental Quality Act (CEQA) may apply, potentially extending timelines if environmental impact reports are required. No site has currently been selected to evaluate the specific permitting requirements for any site, and as a result, no federal, state, or local approvals are currently in process or have been sought. No site has currently been selected to evaluate the specific permitting requirements for any site.

Each HTR project will seek "off take" agreements for its energy which it will need to obtain financing for each project. We anticipate that each project may involve different participants and dictate various structures for which the financing may not be available.

**A Bold New Energy Solution**

The United States and other nations are aggressively pursuing energy independence with clean, sustainable energy solutions. KiNRG offers a bold new approach to overcome the current limitations of other known alternative energy sources. The HydroThermal Reactor combines warm and dry air with water (hydro) which triggers the evaporative process (thermal) reaction which is contained within the walls of the Tower (reactor).

**Industry Analysis**

Electricity is one of the essential sources to meet our growing demand for energy. At the same time, greenhouse gas emissions, primarily CO<sub>2</sub>, must be reduced in order to protect the climate. To reconcile these two conflicting needs, more electricity from clean, renewable sources needs to be made available. Furthermore, there is a global demand for massive amounts of electricity to power the emerging AI industry. Lack of energy combined with an aging grid demand has accelerated the need for "Behind the Meter" stand alone systems such as the HTR.

Renewable energy sources are becoming increasingly important. The impact of the transition toward renewable energy sources becomes more apparent when looking at the amount of energy consumption expected in 2050: Worldwide in total more than 40.000TWh should come from renewables – this means a sevenfold increase from today.

For an industry that has focused heavily on solar and wind, supportive federal actions could help progress timelines for further expansion into new technologies, including advanced batteries and other forms of storage, offshore wind, and green hydrogen technology. As these new technologies, especially green hydrogen production and storage, move toward commercialization, we may see more power-to-x projects to store, convert, and reconvert surplus solar and wind power into carbon-neutral fuels and chemicals.

As renewable energy gains wider acceptance, competition may increase as large, well-capitalized companies enter the business. Although one or more may be successful, KiNRG believes that its technological expertise and early entry will provide a degree of competitive protection.

**Background/Technology**

***Innovative Renewable Energy Technology***

Over the past decade, KiNRG has used its resources to develop and refine a means to generate carbon free electricity with no residual waste, 24/7/365.

The concept of harnessing thermal energy from hot air and water has been contemplated for a number of years but no one has been able to create an economic model that was stable, viable, and sustainable. We have tested, prototyped, and patented our solution. A clean power source that does not degrade over years, that is safe for wildlife and birds, and complimentary to the ecosystem has arrived.

KiNRG has worked diligently with qualified and experienced management to bring this novel clean energy solution to market. The efforts have been supported by large successful companies in conjunction with academia. Consultants to the Company include department heads from universities including N.C. State University (Physicist), Penn State University (Meteorology), Georgia Tech (Aerospace & CFD), University of Oklahoma (Meteorology), and Milwaukee School of Engineering (Fluid Dynamics & CFD).

**THE HYDROTHERMAL REACTOR**

The working principle of the HTR is based on "Evaporative Cooling", a fundamentally and accurately predictable scientific principle – "cold air sinks". When water-soaked air evaporates, the result of the reaction is that the air is cooled. Locate a tall enough hollow tower in hot dry climate, saturate the incoming hot/dry air with water and the water soaked air near the top of the tower will immediately begin to react and evaporate, which means it cools and falls, creating a natural downdraft contained inside the hollow tower cylinder reactor.

Benefiting from 12 years of hourly weather statistics provided by the Department of Defense to the Company, a reliable data base of the weather 24/7/365 in Yuma, Arizona was created. Using that historical hourly weather data, the dimensions of the Tower were designed based on the amount of downdraft energy that is needed to be created to support the cost of constructing the Tower so that the project would more than pay for itself with the sales from the electricity to be sold.

The KiNRG staff and consultants are well experienced in construction and development. Once the construction challenge was overcome with contractors willing to guarantee fixed prices and date certain construction time frames, and knowing the science was sound, finding a suitable site and then completing a final design specific to a site is the goal.

**Intellectual Property**

We own six U.S. patents and two foreign patents. The term of individual patents depends upon the legal term for patents in the countries in which they are obtained. In most countries, including the United States, the patent term is 20 years from the earliest filing date of a non-provisional patent application. Below is a summary of each of the seven patents including the issuance and expiration date.

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| | | | |
|:---|:---|:---|:---|
| Description | Issued by | Issuance<br> Date | Expiration<br> Date |
| Efficient Energy Conversion Devices | United States Patent and Trademark Office | 2/21/12 | 2/20/32 |
| Atmospheric Energy Extraction Devices | United States Patent and Trademark Office | 8/27/13 | 8/26/33 |
| Efficient Energy Conversion Devices and Methods | United States Patent and Trademark Office | 2/4/14 | 2/13/34 |
| Atmospheric Energy Extraction Devices | United States Patent and Trademark Office | 5/20/14 | 5/12/34 |
| Methods and Apparatus for Compression and Release and Conversion of Compressed Air Energy | United States Patent and Trademark Office | 4/27/21 | 4/26/41 |
| Multi-Stage Wind Turbines | United States Patent and Trademark Office | 11/01/22 | 10/31/42 |
| Morocco patent for the Multi-Stage Wind Turbines | Office Marocian De La Propiete Industrielle Et Commerciale | 9/28/22 | 9/27/42 |
| Kuwait Patent for the Multi-Stage Wind Turbines | Ministry of Commence & Industry, Trade marks & Patents Department | 9/30/25 | 9/30/45 |

---

KiNRG believes our intellectual property rights provide a barrier to entry for potential competitors. The patents cover a system of efficiently extracting energy while using "simple and proven" methods with "off the shelf" components, producing cost effective energy. KiNRG has recently filed more applications for additional coverages.

Two scientific principles impact wind energy. First, when one doubles wind velocity the kinetic energy is cubed. That is why Hurricane Category 1 begins with winds of 74 mph, and Category 5 begins with winds of 157 mph. Minimal damage is expected from 74 mph winds, while 157 mph sustained winds can be totally destructive. Second, Betts Law states that no turbine can capture more than 59.3% of the wind's kinetic energy in an "open environment". Add to those two scientific facts, traditional wind turbines are hooked directly to their generators and "brake" in wind speed in excess of 35 mph to avoid damaging the generator.

The HTR creates internal downdraft wind velocities in the Tower up to 50 mph, but when "convergence" occurs and the pressure in the tower achieves "Steady State" the design pushes the wind from the tower and compresses it into wind tunnels easily exceeding speeds of 100 mph in the tunnels.

A significant portion of the electricity produced by the HTR will be consumed by our onsite tenant/s (in some cases all). KiNRG will have options to sell whatever excess power is produced to specific entities offsite. Power from the HTR can also be transmitted to a nearby power grid.

When the HTR is properly located in a suitable hot/dry location, the HTR solution will create zero carbon emission energy at a cost comparable, if not less, than traditional fossil fuel powered facilities and traditional solar and wind. The tower generates alternating current (AC) and can concurrently easily generate direct current (DC) which can be transmitted up to 2,500 miles, widening the market opportunities for these towers outside of the required meteorological siting conditions.

**Global Energy Generation Calculator**

Many countries around the globe have initiated programs to significantly cut greenhouse gas emissions by limiting and eventually eliminating the use of fossil fuels and replacing them in an orderly fashion with renewable sources of energy. The KiNRG HTR's will be a participant in this evolutionary change in electrical energy production. Additionally, support and development of the Data Center market is virtually limitless.

KiNRG has developed a unique software platform for evaluating and rating specific geographic sites around the globe, "The Energy Calculator" (EC) that will sustain and provide a suitable environment for a HTR. The EC takes existing statistical weather data accumulated from within a radius of 100 miles from an existing airport (hourly temperatures, relative humidity, wind speeds etc.) and translates to elevations from ground level to 4000 feet. This data along with geographic intelligence and data available from international archived satellite weather data is entered into our system. The propriety algorithms then determine the exact dimensions of the proposed energy tower, along the performance output for that location. KiNRG's "Energy Calculator" has enabled the Company to design a smaller modular version of the full tower that can support a 24/7/365 base load capacities to power AI data centers.

**Business Model**

The business model of our Company is to create an Energy Compound of Towers and to co-locate high consumption energy consumers such as AI data centers, green hydrogen production facilities and/or green steel in US to be developed individually with a common water supply and electrical grid access. Energy Compounds could actually be developed simultaneously in North America, North Africa (to serve the European grid by piping direct current across the Mediterranean), India and the Middle East. The world market can support all the materials needed and the market for carbon free energy is strong. The cost per kilowatt is similar to that of a typical coal or gas-fired facility. KiNRG is seeking to take advantage of this solution with the goal of bringing the first project to market. It is expected that utilizing the remaining energy to manufacture green hydrogen may further contribute to the positive environmental aspects of the project.

***Project Partnering***

KiNRG's business plan involves potential "partnering" with various entities such as utilities, sovereign nations and independent power producers, to provide the ability to bring this solution to the market as rapidly as possible.

Each HTR is its own independent project. KiNRG's involvement in each project is to facilitate the Tower's development with its expertise, intellectual property and project management team. KiNRG will receive development fees, licensing fees, and royalties on power sales from each project and/or ownership interests.

***Coordinated World Class Expertise***

KiNRG has evaluated potential sites for a possible first Tower here in the United States and received key patents to protect its techniques to extract the energy from the HTR.

**Customers**

Energy produced by the HTR could provide low cost electricity to the power grid. KiNRG plans to ultimately build and operate HTR's with co-located Eco-Energy Industrial Parks housing carbon free energy consumers and sell the electricity either through contracts with utilities, which is the traditional method for independent power plants, or directly into the open market or electricity commodities market like a merchant plant similar to many natural gas fired power plants. The Company may also sell the power plants themselves to large customers or utilities and/or operate such plants for customers or utilities.

**Markets**

KiNRG has successfully researched the feasibility of locating HTR's along the US/Mexico border from Southern California to Texas within 100 miles from the border. Most of Australia will support HTR's, western regions of India are suitable, while the best environments stretch from Morocco through Egypt and basically cover the entire Middle East.

**Competition**

The HTR project requires specific site and appropriate weather conditions. Given these constraints and the increasing focus on renewable energy to offset the environmental problems caused by fossil fuels, the renewable energy industry is highly competitive.

In the markets where KiNRG plans to conduct its business, it will compete with many energy producers including electric utilities and large independent power producers. There is also competition from fossil fuel sources such as natural gas and coal, and other renewable energy sources such as solar, traditional wind, hydro and geothermal. The competition depends on the resources available within the specific markets.

Although the cost to produce clean, reliable, renewable energy is becoming more competitive with traditional fossil fuel sources, it generally remains more expensive to produce, and the reliability of its supply is less consistent than traditional fossil fuel. Deregulation and consumer preference are becoming important factors in increasing the development of alternative energy projects.

KiNRG believes that governments and consumers recognize the importance of renewable energy resources in the energy mix, and are facilitating the implementation of wind and other renewable technologies through renewable portfolio standards and revenue and tax incentives.

**Environmental**

Various parties in the United States and other nations are pursuing clean energy solutions that use efficient and cost- effective renewable resources to serve society while avoiding the adverse effects associated with fossil and nuclear fuels, and also the obvious limitations of solar collectors that work only when the sun shines or wind turbines that work only when the wind blows.

The HTR has the capability of being operated with virtually no carbon footprint, fuel consumption, or waste production. The technology has the potential to generate clean, cost effective and efficient electrical power without the damaging effects caused by using fossil or nuclear fuels, and other conventional power sources. KiNRG also believes that increasing emphasis on green technologies and governmental incentives in the energy industry should have a positive long-term effect on KiNRG's planned business.

Numerous federal and state environmental laws can affect the development of renewable energy, such as the California Environmental Quality Act. These laws require that certain studies be conducted to ensure that there are no significant adverse impacts on wildlife, humans and the environment generally. The significant impacts of wind energy projects are on visibility, noise, birds, wildlife habitat and soil erosion. Changes in environmental laws can pose significant expenses on renewable energy development.

International treaties and protocols, have significantly impacted the development and implementation of renewable energy technologies. Certain countries and regions also have established emission trading programs. Under emission trading programs, utilities and factories are permitted to produce a certain level of emissions. If such an entity produces fewer emissions than its allotment, the entity may sell its excess allotment to parties exceeding their emissions allotments. To date, these mechanisms are at an early stage of development within the United States. Credit trading provides the potential for creating additional income for renewable energy producers, rationalizing of electricity prices for utilities and reducing the overall retail price for green power.

The Company believes that increasing emphasis on green technologies and governmental incentives in the renewable energy industry should have a positive long-term effect on KiNRG's planned business.

**Licensing and Regulation**

In the United States, many state governments have amended their utility regulations and significantly changed certain competition and marketing rules with respect to generation, transmission and distribution of electric energy. Among other things, deregulation allows consumers to purchase electricity from a source of their choice, and requires utilities to purchase electricity from independent power producers and to offer transmission to independent power producers at reasonable prices.

In Arizona, access to the electricity market has been established through Arizona's Retail Electric Competition Rules, which, in the Company's opinion, provide a favorable environment for renewable energy generators. Electricity producers are subject to the Federal Public Utilities Regulatory Policies Act ("PURPA") and state regulations. In addition, power producers must also meet standards set by the Arizona Corporations Commission (the "ACC").

**Employees**

As of March 18, 2026, the Company had a total of two full-time employees. The Company has agreed to and will add additional staff in the areas of engineering, marketing and administration in the future. The Company relies on a number of expert consultants that have been advising the Company during the previous years.

**Corporate History and Structure**

On December 29, 2010, the Company completed a reverse merger (the "Merger") with Solar Wind Energy, Inc., a corporation formed under the laws of the State of Delaware on July 26, 2010 ("Solar Wind - Subsidiary"). In connection with the Merger, the Company issued to the stockholders of Solar Wind - Subsidiary in exchange for their Solar Wind - Subsidiary Common Stock, the right to receive an aggregate of 300,000,000 shares of the Company's Common Stock.

The Company was incorporated under the laws of the State of Idaho on January 22, 1962, as Superior Mines Company. In 1964, the Company's name was changed to Superior Silver Mines, Inc. On December 27, 2010, the Company reincorporated as a Nevada corporation. Prior to the Merger, the Company had been dormant for a number of years and had no known mineral reserves. The Company has changed its name as follows: On January 21, 2011, from Superior Silver Mines, Inc. to Clean Wind Energy Tower, Inc.; on March 11, 2013, to Solar Wind Energy Tower Inc.; and on December 28, 2025, to KiNRG, Inc. On December 28, 2020, the Company's subsidiary Solar Wind energy, Inc. changed its name to KiNRG Global Solutions, Inc. On September 8, 2025, the Company filed Form 10-12G which became effective followed by filing its third quarter 10-Q. The Company has not registered to trade as yet on any exchange.

*Item 1A. Risk Factors*

*Investing in our common stock involves a high degree of risk. You should carefully consider the following risk factors and all other information contained in this Annual Report on Form 10-K before purchasing our common stock. If any of the following risks actually occur, we may be unable to conduct our business as currently planned and our financial condition and results of operations could be seriously harmed. In addition, the trading price of our common stock could decline due to the occurrence of any of these risks, and you may lose all or part of your investment.*

**Risks Related to Our Business and the Industry in Which We Compete**

***We are an early development stage company. We have not yet commenced with the construction of our Downdraft Towers or the production of electricity.***

The Company has a limited operating history and has primarily engaged in operations relating to the development of its business plan. As a development stage entity, the Company is subject to many of the risks common to such enterprises, including the ability of the Company to implement its business plan, market acceptance of its proposed business, under-capitalization, cash shortages, limitations with respect to personnel, financing and other resources, and uncertainty of the Company's ability to generate revenues. There can be no assurance that the Company's activities will be successful or result in any revenues or profit for the Company, and the likelihood of the Company's success must be considered in light of the stage in its development. To date, the Company has generated no revenue and has generated losses.

The Company believes it has engaged professionals and consultants experienced in the type of business contemplated by the Company; however, there can be no assurance that the predictions, opinions, analyses, or conclusions of such professionals will prove to be accurate. In addition, no assurance can be given that the Company will be able to consummate its business strategy and plans or those financial or other limitations may force the Company to modify, alter, significantly delay, or significantly impede the implementation of such plans or the Company's ability to continue operations. If the Company is unable to successfully implement its business strategy and plans, investors may lose their entire investment in the Company.

Potential investors should also be aware of the difficulties normally encountered by new renewable energy companies. The likelihood of success must be considered in light of the problems, expenses, difficulties, complications and delays encountered in connection with the inception of the enterprise that we plan to undertake. These potential problems include, but are not limited to, raising capital to implement each of the HTR's, unanticipated problems relating to construction, operation and distribution, and additional costs and expenses that may exceed current estimates.

***Future financings will involve a dilution of the interests of the stockholders of the Company upon the issuance of additional shares of Common Stock or other securities.***

We will need to engage in additional financings in the future. There can be no assurances that such financings will ever be completed, but any such financings will involve a dilution of the interests of our stockholders upon the issuance of additional shares of Common Stock or other securities. Attaining such additional financing may not be possible, or if additional capital may be otherwise available, the terms on which such capital may be available may not be commercially feasible or advantageous to existing shareholders. We expect to issue shares of our Common Stock and/or other securities in exchange for additional financing.

***We anticipate significant future capital needs and the availability of future capital is uncertain.***

The Company has experienced negative cash flows from operations since its inception. The Company will be required to spend substantial funds to continue research and development. It is estimated that the cost of permitting and constructing large HTR's will be in excess of $2 billion and the cost of a green hydrogen plant will be in excess of $1.2 billion. In addition, we will need to raise funds for working capital purposes. The Company will need to raise additional capital. The Company anticipates the cost of smaller HTR's will be less than half the cost of the large HTRs and will be co-located with AI data centers which will be funded by others. The Company anticipates that long term energy (off take agreements) for the supply of electricity required for the AI data centers will support and enable the needed financing for the smaller HTR. The Company's capital requirements will depend on many factors, primarily relating to the problems, delays, expenses and complications frequently encountered by development stage companies; construction and permitting delays and related issues; the progress of the Company's research and development programs; the costs and timing of seeking regulatory approvals of the Company's products under development; the Company's ability to obtain such regulatory approvals; costs in filing, prosecuting, defending, and enforcing any patent claims and other intellectual property rights; the extent and terms of any collaborative research, manufacturing, marketing, or other arrangements; and changes in economic, regulatory, or competitive conditions or the Company's planned business.

To satisfy its capital requirements, the Company may seek to raise funds in the public or private capital markets. The Company may seek additional funding through corporate collaborations and other financing vehicles. There can be no assurance that any such funding will be available to the Company, or if available, that it will be available on acceptable terms. If adequate funds are not available, the Company may be required to curtail significantly one or more of its research or development programs or it may be required to obtain funds through arrangements with future collaborative partners or others that may require the Company to relinquish rights to some or all of its technologies or products under development. If the Company is successful in obtaining additional financing, the terms of the financing may have the effect of diluting or adversely affecting the holdings or the rights of the holders of Common Stock.

***We have a history of losses.***

We expect to incur non-capitalized development costs and general and administrative expenses prior to the completion of construction and commencement of operation of our proposed projects. We cannot predict if we will ever achieve profitability and, if we do, we may not be able to sustain or increase our profitability. If we cannot achieve or maintain profitability, we may not be able to continue to absorb the resulting financial losses. If we continue to suffer financial losses, our business may be jeopardized and our shareholders may lose all of their investment in our shares.

***Our independent registered public accounting firm has expressed substantial doubt about our ability to continue as a going concern, which may hinder our ability to obtain future financing and adversely affect our business, financial condition, and results of operations.***

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The report of our independent registered public accounting firm on our consolidated financial statements for the years ended December 31, 2024 and 2023 includes an explanatory paragraph stating that our recurring losses from operations, negative cash flows from operating activities, and accumulated deficit raise substantial doubt about our ability to continue as a going concern. A "going concern" opinion indicates that our auditors believe there is substantial doubt that we can continue as an ongoing business for the next 12 months and could signal to lenders, suppliers, customers, and other counterparties that our ability to continue as a viable business is uncertain.

Our financial statements do not include any adjustments that might result from the outcome of this uncertainty. If we are unable to obtain sufficient additional funding or generate sufficient revenue to meet our operating expenses and other obligations as they come due, we may be forced to reduce or delay capital expenditures, sell assets, seek additional capital, restructure or refinance our indebtedness, or file for bankruptcy protection. We cannot assure you that we would be able to take any of these actions, that these actions would be successful and permit us to meet our scheduled debt service obligations, or that these actions would be permitted under the terms of our existing or future debt agreements. In the absence of sufficient financing or other resources, we may not be able to continue as a going concern, which could result in the liquidation of our assets at values significantly lower than those recorded in our financial statements, and investors could lose all or a significant portion of their investment in our securities.

Our ability to continue as a going concern will depend on our ability to successfully execute our business plan, including increasing revenues, reducing operating expenses, and securing additional financing on acceptable terms. However, there can be no assurance that we will be able to achieve these objectives, and the presence of the going concern qualification may make it more difficult or costly to raise additional capital, further exacerbating our liquidity challenges.

***The Company's strategies for development of the business might not be successful.***

The Company is currently evaluating potential development strategies for the further development of HTR technology and implementation of the construction of HTR's. It may take several years, if ever, for the Company to achieve cumulative positive cash flow. The Company could experience significant difficulties in executing its business plan, including: inability to successfully implement the Company's business plan; changes in market conditions; inability to obtain necessary financing; delays in completion of the Company's projects or their underlying technologies; inaccurate cost estimates; changes in government or political reform; or the Company may not benefit from the proposed projects as the Company expected. The Company's inability to develop and market the Company's HTR's successfully and to generate positive cash flows from these operations in a timely manner would have a material adverse effect on the Company's ability to meet the Company's working capital requirements.

***We expect to rely upon strategic relationships in order to execute our business plan and the Company may not be able to consummate the strategic relationships necessary to execute its business plan.***

The Company plans to enter into and rely on strategic relationships with other parties, in particular to acquire rights necessary to develop and build proposed HTR's and to develop and build such projects. These strategic relationships could include licensing agreements, partnerships, joint ventures, or merger or acquisition activity. The Company believes that these relationships will be particularly important to the Company's future growth and success due to the size and resources of the Company and the resources necessary to complete the Company's proposed projects. The Company may, however, not be able to successfully identify potential strategic relationships.

Even if the Company does identify one or more potentially beneficial strategic relationships, it may not be able to consummate these relationships on favorable terms or at all, obtain the benefits it anticipates from such relationships or maintain such relationships. In addition, the dynamics of the Company's relationships with possible strategic partners may require the Company to incur expenses or undertake activities it would not otherwise be inclined to undertake in order to fulfill the Company's obligations to these partners or maintain the Company's relationships.

To the extent the Company consummates strategic relationships; it may become reliant on the performance of independent third parties under such relationships. Moreover, certain potentially critical strategic relationships are only in the early stages of discussion and have not been officially agreed to and formalized. If strategic relationships are not identified, established or maintained, or are established or maintained on terms that become unfavorable, the Company's business prospects may be limited, which could have a negative impact on the Company's ability to execute the Company's business plan, diminish the Company's ability to conduct the Company's operations and/or materially and adversely affect the Company's business and financial results.

***Project development or construction activities may not be successful and proposed projects may not receive required permits or construction may not proceed as planned.***

The development and construction of our proposed projects will involve numerous risks. We may be required to spend significant sums for preliminary engineering, permitting, legal, and other expenses before we can determine whether a project is feasible, economically attractive or capable of being built. Success in developing a particular project is contingent upon, among other things: (i) negotiation of satisfactory engineering, procurement and construction agreements; (ii) receipt of required governmental permits and approvals, including the right to interconnect to the electric grid on economically acceptable terms; (iii) payment of interconnection and other deposits (some of which may be non-refundable); (iv) obtaining construction financing; and (v) timely implementation and satisfactory completion of construction.

Successful completion of a particular project may be adversely affected by numerous factors, including: (i) delays in obtaining required governmental permits and approvals with acceptable conditions; (ii) uncertainties relating to land costs for projects ; (iii) unforeseen engineering problems; (iv) construction delays and contractor performance shortfalls; (v) work stoppages; (vi) cost over-runs; (vii) equipment and materials supply; (viii) adverse weather conditions; and (ix) environmental and geological conditions.

***The estimates and projections contained herein may not be realized.***

Any estimates or projections have been prepared on the basis of assumptions and hypotheses, which the Company believes to be reasonable. However, no assurance can be given that the potential benefits described herein will prove to be available. Such assumptions are highly speculative and, while based on management's best estimates of projected sales levels, operational costs, consumer preferences, and the Company's general economic and competitive conditions in the industry, there can be no assurance that the Company will operate profitably or remain solvent. To date, the Company has not operated profitably and has a history of losses. If the Company's plans prove unsuccessful, investors could lose all or part of their investment. There can be no assurance that the Company will be able to generate any revenue or profits.

***Our business is subject to significant government regulation and, as a result, changes to such regulations may adversely affect our business.***

Although independent and small power producers may generate electricity and engage in wholesale sales of energy without being subject to the full panoply of state and/or provincial and federal regulation to the same extent as a public utility company, our planned operations will nonetheless be subject to changes in government regulatory requirements, such as regulations related to the environment, zoning and permitting, financial incentives, taxation, competition, pricing, and FERC and state PUC regulations on competition. The operation of our proposed projects will be subject to regulation by various U.S. government agencies at the federal, state and municipal level.

There is always the risk of change in government policies and laws, including but not limited to laws and regulations relating to income, capital, sales, corporate or local taxes, and the removal of tax incentives. Changes in these regulations could have a negative impact on our potential profitability. Laws and tax policies may change and such changes may be favorable or unfavorable to the Company, which may result in the cancellation of proposed projects or reduce anticipated revenues and cash flow.

***We may be unable to acquire or lease land and/or obtain the approvals, licenses and permits necessary to build and operate our proposed projects in a timely and cost effective manner, and regulatory agencies, local communities or labor unions may delay, prevent or increase the cost of construction and operation of our proposed projects.***

In order to construct and operate our proposed projects, we need to acquire or lease land and obtain all necessary local, county, state and federal approvals, licenses and permits. We may be unable to acquire the land or lease interests needed, may not receive or retain the requisite approvals, permits and licenses or may encounter other problems which could delay or prevent us from successfully constructing and operating proposed projects.

Proposed projects may be located on or require access through public lands administered by federal and state agencies pursuant to competitive public leasing and right-of-way procedures and processes. The authorization for the use, construction and operation of our proposed projects and associated transmission facilities on federal, state and private lands will also require the assessment and evaluation of mineral rights, private rights-of-way and other easements; environmental, agricultural, cultural, recreational and aesthetic impacts; and the likely mitigation of adverse impacts to these and other resources and uses. The inability to obtain the required permits and, potentially, excessive delay in obtaining such permits due, for example, to litigation, could prevent us from successfully constructing and operating our proposed projects. Moreover, project approvals subject to project modifications and conditions, including mitigation requirements and costs, could affect the financial success of our proposed projects.

***Our ability to manage our growth successfully is crucial to our future.***

We are subject to a variety of risks associated with a growing business. Our ability to operate successfully in the future depends upon our ability to finance, develop, and construct future renewable energy projects, implement and improve the administration of financial and operating systems and controls, expand our technical capabilities and manage our relationships with landowners and contractors. Our failure to manage growth effectively could have a material adverse effect on our business or results of operations.

***Notwithstanding the Recovery Act and other regulatory incentives, we may not be able to finance the development or the construction costs of building our planned projects.***

We do not have sufficient funds from the cash flow of our operations to fully finance the development or the construction costs of building our proposed projects. Additional funds will be required to complete the development and construction of our proposed projects, to find and carry out the development of properties, and to pay the general and administrative costs of operating our business. Additional financing may not be available on acceptable terms, if at all. If we are unable to raise additional funds when needed, we may be required to delay development and construction of our proposed projects, reduce the scope of our proposed projects, and/or eliminate or sell some or all of our development projects, if any.

***We may not be able to obtain access to the transmission lines necessary to deliver the power we plan to produce and sell.***

We will depend on access to transmission facilities so that we may deliver power to purchasers. If existing transmission facilities do not have available transmission capacity, we would be required to pay for the upgrade of existing transmission facilities or to construct new ones. There can be no assurance that we will be able to secure access to transmission facilities at a reasonable cost, or at all. As a result, expected profitability on a proposed project may be lower than anticipated or, if we have no access to electricity transmission facilities, we may not be able to fulfill our obligations to deliver power or to construct the project or we may be required to pay liquidated damages.

***Changes in interest rates and debt covenants and increases in turbine and generator prices and construction costs may result in our proposed projects not being economically feasible.***

Increases in interest rates and changes in debt covenants may reduce the amounts that we can borrow, reduce the cash flow, if any, generated by our proposed projects, and increase the equity required to complete the construction of our proposed projects. The cost of wind turbines, generators and construction costs have increased significantly over the last four years. Further increases may increase the cost of our proposed projects to the point that such projects are not feasible given the prices utilities are willing to pay. There can be no assurance that we will be able to negotiate power purchase agreements with sufficiently profitable electricity prices in the future.

***We may not be able to secure power purchase agreements.***

We may not be able to secure power purchase agreements for our proposed projects. In the event that we do secure power purchase agreements, if we fail to construct our proposed projects in a timely manner, we may be in breach of our power purchase agreements and such agreements may be terminated.

***Our smaller modular HTR may not achieve projected performance, cost, or operational timelines, and delays in commissioning or interconnection could materially and adversely affect our business, financial condition, results of operations, and prospects.***

The Company's smaller modular HydroThermal Reactor is estimated to cost less than $1.5 billion and is designed to be constructed in approximately 12 to 15 months. These cost and construction timeline estimates are based on current engineering designs, anticipated material and labor costs, and assumptions about regulatory and permitting processes, all of which are subject to significant uncertainty. Actual costs could substantially exceed our estimates due to factors including, but not limited to, increases in material, equipment, and labor costs, supply chain disruptions, unforeseen engineering or design challenges, and changes in applicable building codes, water permitting requirements, or other regulatory standards. Construction timelines may similarly be extended by adverse weather conditions, contractor performance shortfalls, work stoppages, permitting delays, or other unforeseen events.

The smaller HTR is projected to produce 150 MW to 200 MW of reliable power on a continuous 24/7/365 basis when connected to a co-located data center. However, we have not yet constructed or operated a smaller HTR at commercial scale, and there can be no assurance that the reactor will achieve these projected power output levels. Actual energy output will depend on site-specific meteorological conditions, the performance of key operating systems—including the water injection system, turbine and hydraulic pressure system, generator production system, and water collection and pumping system—and other factors that may differ materially from our current assumptions. Meteorological data collected during the development phase may differ from actual conditions encountered after the reactor is erected, and short-term variations in weather patterns could result in lower-than-anticipated energy production.

Although we anticipate that each smaller HTR will be immediately operational upon completion of construction through integrated testing of individual operating systems during the construction process, the timeline to full operational status could be affected by a number of factors. These factors include delays associated with final local inspections, interconnection testing with co-located facilities such as data centers or hydrogen production plants, and unforeseen commissioning challenges, any of which could add several months or longer to the projected timeline. The connection of the smaller HTR to a data center is expected to be performed by third parties, and we will have limited control over the timing, quality, or success of such interconnection work. If third-party interconnection is delayed or fails to meet technical requirements, the reactor may be unable to deliver power as planned, which could impair our ability to satisfy off-take agreements or generate anticipated revenues.

In addition, the smaller HTR is designed to maximize production during the coolest hours of the year and to support a base load required by data centers, which limits its optimal operating conditions to cooler and more damp climates. While the Company believes the smaller HTR can be adapted to a broader range of climates than the larger HTR, there can be no assurance that the reactor's design will perform as expected across all targeted geographies. Any failure to achieve projected performance levels, cost targets, or operational timelines for the smaller HTR could result in forfeited deposits, lost revenue opportunities, breach of contractual commitments, reputational harm, and a material adverse effect on our business, financial condition, results of operations, and prospects.

***Increased competition from large, well-capitalized companies in the renewable energy industry could materially and adversely affect our business, financial condition, results of operations, and prospects.***

The renewable energy industry is highly competitive, and as renewable energy gains wider acceptance, competition may increase as large, well-capitalized companies enter the business. We face significant competition from large power project developers, including electric utilities and large independent power producers, that have greater project development, construction, financial, human resources, marketing, and management capabilities than the Company. These competitors have established track records of completing projects and may be able to acquire funding more easily to develop and construct projects. They also have established relationships with energy utilities, transmission companies, equipment suppliers, and plant contractors that may make our access to such parties more difficult. In addition to competition from other renewable energy industry participants, we face competition from traditional fossil fuel sources such as natural gas and coal, and other renewable energy sources such as solar, traditional wind, hydro, and geothermal.

Although KiNRG believes that its technological expertise and early entry into the downdraft renewable energy market will provide a degree of competitive protection, there can be no assurance that these advantages will be sufficient to compete effectively against larger, better-resourced competitors. Our HTR technology has not yet been commercially deployed, and established competitors may develop or acquire competing technologies, offer more favorable pricing, or leverage their existing customer relationships to secure off-take agreements or project financing ahead of us. Moreover, our limited operating history, early-stage development, and lack of a demonstrated commercial track record may place us at a competitive disadvantage when pursuing customers, partners, lenders, and investors. If we are unable to compete effectively, our ability to secure project sites, off-take agreements, financing, and market share could be materially impaired, which could have a material adverse effect on our business, financial condition, results of operations, and prospects.

***We intend to rely on project financing to fund the construction of our HTRs, which is expected to be contingent upon our ability to enter into long-term off-take agreements, and we may be unable to obtain such financing or agreements on acceptable terms or at all.***

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The Company intends to pursue project financing to fund the construction of both its smaller and large downdraft renewable energy towers (collectively, the "HTRs"). Obtaining such project financing is expected to be contingent upon the Company entering into long-term power purchase agreements (also known as off-take agreements) with creditworthy customers for each project. These agreements would guarantee the purchase volume and price of the energy produced, thereby providing lenders with assurance that any debt associated with the project financing can be serviced and repaid. This method of financing is commonly used for renewable energy projects in the United States; however, there can be no assurance that we will be able to enter into such off-take agreements on favorable terms, or at all, due to factors such as market demand for our energy output, competition from other renewable energy sources, regulatory changes affecting energy markets, or perceptions of the viability and reliability of our downdraft technology.

Each HTR project will seek off-take agreements for its energy, and we anticipate that each project may involve different participants, counterparties, and financing structures. As a result, financing arrangements will need to be negotiated on a project-by-project basis, and there can be no assurance that suitable financing structures will be available for any given project. Even if we secure off-take agreements, project financing may not be available on acceptable terms, or at all. Lenders may require stringent conditions, including high interest rates, significant collateral, or equity contributions, which could increase our overall cost of capital. Economic conditions, such as rising interest rates, inflation, or disruptions in credit markets, could further limit access to financing.

If the Company is required to raise equity capital in connection with project financing, it intends to pursue equity investors for individual HTR projects and may seek assignments of proceeds from available investment tax credits ("ITCs") or production tax credits ("PTCs") under the U.S. Internal Revenue Code. However, the availability and value of these tax credits are subject to legislative changes, phase-outs, or elimination, and there is no guarantee that we will qualify for or effectively monetize them. Changes in tax policy, such as those potentially arising from shifts in U.S. federal administration or congressional priorities, could reduce or eliminate these incentives, making our projects less attractive to investors. There can be no assurance that project financing will be available on acceptable terms or at all, or that any required equity capital or tax credits will be obtainable, which could materially impact the Company's ability to develop and construct its HTRs. If we are unable to obtain sufficient project financing or alternative capital, we may be forced to delay, scale back, or abandon HTR construction projects, which could result in forfeited deposits, lost revenue opportunities, damage to our reputation with partners and customers, and a material adverse effect on our business, financial condition, results of operations, and prospects.

***The operation of our proposed projects may be subject to equipment failure.***

After the construction of our proposed projects, the electricity produced may be lower than anticipated because of equipment malfunction. Unscheduled maintenance can result in lower electricity production for several months or possibly longer depending on the nature of the outage, and correspondingly, in lower revenues.

***Changes in weather patterns may affect our ability to operate our proposed projects.***

Meteorological data we collect during the development phase of a proposed project may differ from actual results achieved after the project is erected. While long-term precipitation patterns have not varied significantly, short-term patterns, either on a seasonal or on a year-to-year basis may vary substantially. These variations may result in lower revenues and higher operating losses.

***Environmental damage on our properties may cause us to incur significant financial expenses.***

Environmental damage may result from the development and operation of our proposed projects. The construction of our proposed initial HTR involves, among other things, land excavation and the installation of concrete foundations. Equipment can be a source of environmental concern, including noise pollution, damage to the soil as a result of oil spillage, and peril to certain migratory birds and animals that live, feed on, fly over, or cross the property. In addition, environmental regulators may impose restrictions on our operations, which would limit our ability to obtain the appropriate zoning or conditional use permits for our project. We may also be assessed significant financial penalties for any environmental damage caused on properties that are leased, and we may be unable to sell properties that are owned. Financial losses and liabilities that may result from environmental damage could affect our ability to continue to do business.

***Larger developers have greater resources and expertise in developing and constructing renewable energy projects.***

We face significant competition from large power project developers, including electric utilities and large independent power producers that have greater project development, construction, financial, human resources, marketing and management capabilities than the Company. They have a track record of completing projects and may be able to acquire funding more easily to develop and construct projects. They have also established relationships with energy utilities, transmission companies, turbine suppliers, and plant contractors that may make our access to such parties more difficult.

***Renewable energy must compete with traditional fossil fuel sources.***

In addition to competition from other industry participants, we face competition from fossil fuel sources such as natural gas and coal, and other renewable energy sources such as solar, traditional wind, hydro and geothermal. The competition depends on the resources available within the specific markets. Although the cost to produce clean, reliable, renewable energy is becoming more competitive with traditional fossil fuel sources, it generally remains more expensive to produce, and the reliability of its supply is less consistent than traditional fossil fuel. However, deregulation, legislative mandates for renewable energy, and consumer preference for environmentally more benign energy sources are becoming important factors in increasing the development of alternative energy projects.

***The wind and solar energy industry in California is highly competitive since wind and solar play an integral role in the electricity portfolio in California.***

KiNRG is investigating the feasibility of locating an HTR in California. Since wind and solar play an integral role in the electricity portfolio in California and wind energy require a significant amount of land resource, the wind and solar energy industry in California is highly competitive. Wind and solar developers compete for leased and owned land with favorable wind characteristics, limited supply of turbines and contractors, and for purchasers and available transmission capacity. There is no guarantee that we will be able to acquire the significant land resources needed to develop projects in California.

***Our ability to hire and retain qualified personnel and contractors will be an important factor in the success of our business. Our failure to hire and retain qualified personnel may result in our inability to manage and implement our plans for expansion and growth.***

Competition for qualified personnel in the renewable energy industry is significant. To manage growth effectively, we must continue to implement and improve our management systems and to recruit and train new personnel. We may not be able to continue to attract and retain the qualified personnel necessary to carry on our business. If we are unable to retain or hire additional qualified personnel as required, we may not be able to adequately manage and implement our plans for expansion and growth.

***The market in which we operate is rapidly evolving and we may not be able to maintain our profitability.***

As a result of the emerging nature of the markets in which we plan to compete and the rapidly evolving nature of our industry, it is particularly difficult for us to forecast our revenues or earnings accurately. Our current and future expense levels are based largely on our investment plans and estimates of future revenues and are, to a large extent, fixed. We may not be able to adjust spending in a timely manner to compensate for any unexpected revenue shortfall. Accordingly, any significant shortfall in revenues relative to our planned expenditures would have an immediate adverse effect on our business, results of operations and financial condition.

***We depend on key personnel, the loss of which could have a material adverse effect on us.***

Our performance depends substantially on the continued services and on the performance of our senior management and other key personnel. Our ability to retain and motivate these and other officers and employees is fundamental to our performance. The unexpected loss of services of one or more of these individuals could have a material adverse effect on us. We are not protected by a material amount of key-person or similar life insurance covering our executive officers and other directors. We have entered into employment agreements with our executive officers, but the non-compete period with respect to certain executive officers could, in some circumstances in the event of their termination of employment with the Company, end prior to the employment term set forth in their employment agreements.

***Certain legal proceedings and regulatory matters could adversely impact our results of operations.***

We may be subject from time to time to various claims involving alleged breach of contract claims, intellectual property and other related claims, and other litigations. Certain of these lawsuits and claims, if decided adversely to us or settled by us, could result in material liability to the Company or have a negative impact on the Company's reputation or relations with its employees, customers, licensees or other third parties. In addition, regardless of the outcome of any litigation or regulatory proceedings, such proceedings could result in substantial costs and may require that the Company devotes substantial time and resources to defend itself. Further, changes in governmental regulations in the U.S. could have an adverse impact on our results of operations.

***The Company's insurance coverage may not be adequate.***

If the Company was held liable for amounts exceeding the limits of its insurance coverage in place at any given time or for claims outside the scope of that coverage, its business, results of operations and financial conditions could be materially and adversely affected.

***Our business is subject to extensive governmental regulation that could reduce our profitability, limit our growth, or increase competition.***

Our planned businesses are subject to extensive federal, state and foreign governmental regulation and supervision, which could reduce our potential profitability or limit our potential growth by increasing the costs of regulatory compliance, limiting or restricting the products or services we plan to sell or the methods by which we plan to sell our products and services, or subjecting our businesses to the possibility of regulatory actions or proceedings.

In all jurisdictions the applicable laws and regulations are subject to amendment or interpretation by regulatory authorities. Generally, such authorities are vested with relatively broad discretion to grant, renew and revoke licenses and approvals and to implement regulations. Accordingly, we may be precluded or temporarily suspended from carrying on some or all of our planned activities or otherwise fined or penalized in a given jurisdiction. No assurances can be given that our business will be allowed to be, or continue to be, conducted in any given jurisdiction as we plan.

Competition resulting from these developments could cause the supply of, and demand for, our planned products and services to change, which could adversely affect our results of operations and financial condition.

***Our planned operations will expose us to various international risks that could adversely affect our business.***

We are seeking to reach agreements for the provision of key aspects of our business with foreign operators. Accordingly, we may become subject to legal, economic and market risks associated with operating in foreign countries, including:

● the general economic and political conditions existing in those countries;

● devaluations and fluctuations in currency exchange rates;

● imposition of limitations on conversion of foreign currencies or remittance of dividends and other payments by foreign subsidiaries;

● imposition or increase of withholding and other taxes on remittances and other payments by subsidiaries;

● hyperinflation in certain foreign countries;

● imposition or increase of investment and other restrictions by foreign governments;

● longer payment cycles;

● greater difficulties in accounts receivable collection; and

● the requirement of complying with a wide variety of foreign laws.

***Our ability to conduct business in foreign countries may be affected by legal, regulatory, political and economic risks.***

Our ability to conduct business in foreign countries is subject to risks associated with international operations. These include:

● the burdens of complying with a variety of foreign laws and regulations;

● unexpected changes in regulatory requirements; and

● new tariffs or other barriers in some international markets.

We are also subject to general political and economic risks in connection with our international operations, including:

● political instability and terrorist attacks;

● changes in diplomatic and trade relationships; and

● general economic fluctuations in specific countries or markets.

We cannot predict whether quotas, duties, taxes, or other similar restrictions will be imposed by the U.S. or foreign countries upon our business in the future, or what effect any of these actions would have on our business, financial condition or results of operations. Changes in regulatory, geopolitical, social or economic policies and other factors may have a material adverse effect on our business in the future or may require us to significantly modify our current business practices.

***The occurrence of natural or man-made disasters could adversely affect our financial condition and results of operations.***

We are exposed to various risks arising out of natural disasters, including earthquakes, hurricanes, fires, floods and tornadoes, and pandemic health events such as COVID, as well as man-made disasters, including acts of terrorism and military actions. The continued threat of terrorism and ongoing military actions may cause significant volatility in global financial markets, and a natural or man-made disaster could trigger an economic downturn in the areas directly or indirectly affected by the disaster. These consequences could, among other things, result in a decline in business and increased claims from those areas. Disasters also could disrupt public and private infrastructure, including communications and financial services, which could disrupt our normal business operations.

Our inability to successfully recover should we experience a disaster or other business continuity problem could cause material financial loss, loss of human capital, regulatory actions, reputational harm or legal liability.

Should we experience a local or regional disaster or other business continuity problem, such as an earthquake, hurricane, terrorist attack, pandemic, security breach, power loss, telecommunications failure or other natural or man-made disaster, our continued success will depend, in part, on the availability of our personnel, our office facilities, and the proper functioning of our computer, telecommunication and other related systems and operations.

Our operations are dependent upon our ability to protect our technology infrastructure against damage from business continuity events that could have a significant disruptive effect on our operations. We could potentially lose operation of our projects or experience material adverse interruptions to our operations or delivery of services to our clients in a disaster recovery scenario.

We plan to regularly assess and take steps to improve upon our existing business continuity plans and key management succession. However, a disaster on a significant scale or affecting certain of our key operating areas within or across regions, or our inability to successfully recover should we experience a disaster or other business continuity problem, could materially interrupt our business operations and cause material financial loss, loss of human capital, regulatory actions, reputational harm, damaged client relationships or legal liability.

***Assertions by a third party that the Company infringes its intellectual property could result in costly and time-consuming litigation, expensive licenses or the inability to operate as planned.***

The energy and technology industries are characterized by the existence of a large number of patents, copyrights, trademarks and trade secrets and by frequent litigation based on allegations of infringement or other violations of intellectual property rights. There is a possibility of intellectual property rights claims against the Company. The Company's technologies may not be able to withstand third-party claims or rights restricting their use. Companies, organizations or individuals, including the Company's competitors, may hold or obtain patents or other proprietary rights that would prevent, limit or interfere with the Company's ability to provide the Company's services or develop new products or services, which could make it more difficult for the Company to operate the Company's business. Any litigation or claims, whether or not valid, could be time-consuming, expensive to litigate or settle and could divert the Company's managements' attention and financial resources. If the Company is determined to have infringed upon a third party's intellectual property rights, the Company may be required to pay substantial damages, stop using technology found to be in violation of a third party's rights or seek to obtain a license from the holder of the infringed intellectual property right, which license may not be available on reasonable terms, or at all, and may significantly increase the Company's operating expenses or may require the Company to restrict the Company's business activities in one or more respects.

The Company may also be required to develop alternative non-infringing technology that could require significant effort and expense or may not be feasible. In the event of a successful claim of infringement against the Company and the Company's failure or inability to obtain a license to the infringed technology, the Company's business and results of operations could be harmed.

***The Company's business will be adversely affected if the Company is unable to protect its intellectual property rights from unauthorized use or infringement by third parties.***

The Company intends to rely on a combination of trademark, patent, trade secret and copyright law, license agreements and contractual restrictions, including confidentiality agreements, invention assignment agreements and non-disclosure agreements with employees, contractors and suppliers, to protect the Company's proprietary rights, all of which provide only limited protection. The Company believes its intellectual property rights are valuable, and any inability to protect them could reduce the value of the Company's products, services and brand. Various events outside of the Company's control pose a threat to the Company's intellectual property rights as well as to the Company's products and services. The efforts the Company has taken to protect its proprietary rights may not be sufficient or effective, may not be enforceable or may be capable of being effectively circumvented.

Any significant impairment of the Company's intellectual property rights could harm the Company's business or the Company's ability to compete. Also, protecting the Company's intellectual property rights is costly and time consuming. The Company also seeks to maintain certain intellectual property as trade secrets. The secrecy could be compromised by outside parties, or by the Company's employees, which would cause the Company to lose the competitive advantage resulting from these trade secrets.

**Risks Related to Ownership of our Common Stock**

***We are a "smaller reporting company" and we have elected to comply with certain reduced reporting and disclosure requirements which could make its common stock less attractive to investors.***

We are a "smaller reporting company," as defined in the Regulation S-K of the Securities Act of 1933, as amended, which allows us to take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not smaller reporting companies, including (1) not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, and (2) reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements. In addition, as an emerging growth company, we are only required to provide two years of audited financial statements in this document. As a result of these reduced reporting and disclosure requirements our financial statements may not be comparable to SEC registrants not classified as emerging growth companies.

We cannot predict if investors will find our common stock less attractive because we may rely on these exemptions. If some investors find our common stock less attractive as a result, there may be a less active trading market for our common stock and our stock price may be more volatile.

Our independent registered public accounting firm is not required to formally attest to the effectiveness of our internal control over financial reporting until we are no longer a "smaller reporting company". We cannot assure you that there will not be material weaknesses or significant deficiencies in our internal controls in the future.

Investors may find our common stock less attractive as a result of our election to utilize these exemptions, which could result in a less active trading market for our common stock and/or the market price of our common stock may be more volatile.

***A sale or perceived sale of a substantial number of shares of our common stock may cause the price of our common stock to decline.***

All of our executive officers and directors and certain of our stockholders and warrant holders have agreed not to sell shares of our common stock for a period of 180 days following the effectiveness of our Registration Statement on Form 10, subject to extension under specified circumstances. Common stock subject to these lock-up agreements will become eligible for sale in the public market upon expiration of these lock-up agreements, subject to limitations imposed by Rule 144 under the Securities Act of 1933, as amended. If our stockholders sell substantial amounts of our common stock in the public market, the market price of our common stock could fall. Moreover, the perceived risk of this potential dilution could cause stockholders to attempt to sell their shares and investors to short our common stock. These sales also may make it more difficult for us to sell equity or equity-related securities in the future at a time and price that we deem reasonable or appropriate.

***Market and economic conditions may negatively impact our business, financial condition and share price.***

Concerns over medical epidemics, energy costs, geopolitical issues, the U.S. mortgage market and a deteriorating real estate market, unstable global credit markets and financial conditions, and volatile oil prices have led to periods of significant economic instability, diminished liquidity and credit availability, declines in consumer confidence and discretionary spending, diminished expectations for the global economy and expectations of slower global economic growth, increased unemployment rates, and increased credit defaults in recent years. Our general business strategy may be adversely affected by any such economic downturns (including the current downturn related to the current COVID-19 pandemic), volatile business environments and continued unstable or unpredictable economic and market conditions. If these conditions continue to deteriorate or do not improve, it may make any necessary debt or equity financing more difficult to complete, more costly, and more dilutive. Failure to secure any necessary financing in a timely manner and on favorable terms could have a material adverse effect on our growth strategy, financial performance, and share price and could require us to delay or abandon development or commercialization plans.

***If securities or industry analysts do not publish research or reports, or publish unfavorable research or reports about our business, our stock price and trading volume may decline.***

The trading market for our common stock will rely in part on the research and reports that industry or financial analysts publish about us, our business, our markets and our competitors. We do not control these analysts. If securities analysts do not cover our common stock, the lack of research coverage may adversely affect the market price of our common stock. Furthermore, if one or more of the analysts who do cover us downgrade our stock or if those analysts issue other unfavorable commentary about us or our business, our stock price would likely decline. If one or more of these analysts cease coverage of us or fails to regularly publish reports on us, we could lose visibility in the market and interest in our stock could decrease, which in turn could cause our stock price or trading volume to decline and may also impair our ability to expand our business with existing customers and attract new customers.

***Because certain of our stockholders control a significant number of shares of our common stock, they may have effective control over actions requiring stockholder approval.***

Our directors, executive officers, and their respective affiliates, will beneficially own approximately 46.3% of our outstanding shares of common stock. As a result, these stockholders, acting together, could have the ability to have significant control over the outcome of matters submitted to our stockholders for approval, including the election of directors and any merger, consolidation or sale of all or substantially all of our assets. In addition, these stockholders, acting together, would have the ability to control the management and affairs of our company. Accordingly, this concentration of ownership might harm the market price of our common stock by:

● delaying, deferring or preventing a change in corporate control;

● impeding a merger, consolidation, takeover or other business combination involving us; or

● discouraging a potential acquirer from making a tender offer or otherwise attempting to obtain control of us.

***Our share price may be volatile, and you may lose all or part of your investment.***

The executive officers, directors, and their respective affiliated entities will in the aggregate beneficially own approximately 46.3% of our outstanding common stock. As a result, these stockholders, acting together, could have significant control over matters that require approval by our stockholders, including the election of directors and approval of significant corporate transactions. Corporate actions might be taken even if other stockholders oppose them. This concentration of ownership might also have the effect of delaying or preventing a corporate transaction that other stockholders may view as beneficial.

***We do not intend to pay dividends for the foreseeable future, which could reduce the attractiveness of our stock to some investors.***

We currently intend to retain any future earnings to finance the operation and expansion of our business, and we do not expect to declare or pay any dividends in the foreseeable future. As a result, you may only receive a return on your investment in our common stock if the market price of our common stock increases. In addition, we may incur debt financing to further finance our operations, the governing documents of which may contain restrictions on our ability to pay dividends.

***Provisions in our articles of incorporation and bylaws and Nevada law may discourage, delay or prevent a change of control of our company and, therefore, may depress the trading price of our stock.***

Our articles of incorporation and bylaws contain provisions that may discourage, delay or prevent a change of control that our stockholders may consider favorable. These provisions:

● authorize the issuance of "blank check" preferred stock that our board of directors could issue to increase the number of outstanding shares to discourage a takeover attempt;

● prohibit stockholder action to elect or remove directors by majority written consent;

● provide that the board of directors is expressly authorized to make, alter or repeal our bylaws;

● prohibit our stockholders from calling a special meeting of stockholders; and

● establish advance notice requirements for nominations for elections to our board of directors or for proposing matters that can be acted upon by stockholders at stockholder meetings.

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***We may be subject to securities litigation, which is expensive and could divert management attention.***

In the past companies that have experienced volatility in the market price of their stock have been subject to securities class action litigation. We may be the target of this type of litigation in the future. Litigation of this type could result in substantial costs and diversion of management's attention and resources, which could seriously hurt our business. Any adverse determination in litigation could also subject us to significant liabilities.

***If we fail to comply with the rules under the Sarbanes-Oxley Act of 2002 related to accounting controls and procedures in the future, or, if we discover additional material weaknesses and other deficiencies in our internal control and accounting procedures, our stock price could decline significantly and raising capital could be more difficult. Our management determined that our disclosure controls and procedures and internal controls were ineffective as of December 31, 2025 and 2024 and if they continue to be ineffective could result in material misstatements in our financial statements.***

If we fail to comply with the rules under the Sarbanes-Oxley Act related to disclosure controls and procedures in the future, or, if we discover material weaknesses and other deficiencies in our internal control and accounting procedures, our stock price could decline significantly and raising capital could be more difficult. Section 404 of the Sarbanes-Oxley Act requires annual management assessments of the effectiveness of our internal control over financial reporting. In connection with the audit of our consolidated financial statements for the years ended December 31, 2025 and 2024, our management concluded that the Company had material weaknesses in its internal controls because we did not have adequately designed internal controls to ensure the timely preparation and review of the accounting for certain complex, non-routine transactions by those with appropriate technical expertise, which was necessary to provide reasonable assurance that the Company's consolidated financial statements and related disclosures would be prepared in accordance with generally accepted accounting principles in the United States of America. In addition, we did not have adequately designed and documented financial close and management review controls to properly detect and prevent certain accounting errors and omitted disclosures in the financial statements and related footnotes. We intend to invest as soon as practicable in resources to create a larger finance function with additional personnel to comply with evolving laws, regulations and standards, and this investment may result in increased general and administrative expenses and a diversion of management's time and attention from revenue-generating activities to compliance activities. If additional material weaknesses or significant deficiencies are discovered or if we otherwise fail to achieve and maintain the adequacy of our internal control, we may not be able to ensure that we can conclude on an ongoing basis that we have effective internal controls over financial reporting in accordance with Section 404 of the Sarbanes-Oxley Act. Moreover, effective internal controls are necessary for us to produce reliable financial reports and are important to helping prevent financial fraud. If we cannot provide reliable financial reports or prevent fraud, our business and operating results could be harmed, investors could lose confidence in our reported financial information, and the trading price of our common stock could drop significantly.

***We may not qualify for OTC Market inclusion, and therefore you may be unable to sell your shares.***

We believe that our common stock will become eligible for quotation on the OTC Market. No assurances can be given, however, that this eligibility will be granted. OTC Market eligible securities include securities not listed on a registered national securities exchange in the United States and that are also required to file reports pursuant to Section 13 or 15(d) of the Securities Act of 1933, as amended (the "Securities Act"), and require that the company be current in its periodic securities reporting obligations.

Among other matters, in order for our common stock to become OTC Market eligible, a broker/dealer member of the Financial Industry Regulatory Authority ("FINRA"), must file a Form 211 with FINRA and commit to make a market in our securities once the Form 211 is approved by FINRA. As of the date of this Annual Report on Form 10-K, a Form 211 has not been filed with FINRA by any broker/dealer. If for any reason our common stock does not become eligible for quotation on the OTC Market or a public trading market does not develop, purchasers of shares of our common stock may have difficulty selling their shares should they desire to do so. If we are unable to satisfy the requirements for quotation on the OTC Market, any quotation of our common stock would be conducted in the "Pink Sheets" market. As a result, a purchaser of our common stock may find it more difficult to dispose of, or to obtain accurate quotations as to the price of their shares.

***Our common stock may be considered a "penny stock," and thereby be subject to additional sale and trading regulations that may make it more difficult to sell. Further, if our common stock is considered a "penny stock," the protection provided by the federal securities laws relating to forward looking statements would not apply to us.***

The SEC has adopted rules that regulate broker-dealer practices in connection with transactions in penny stocks. Penny stocks are generally equity securities with a price of less than $5.00 (other than securities registered on certain national securities exchanges or authorized for quotation on certain automated quotation systems, provided that current price and volume information with respect to transactions in such securities is provided by the exchange or system). The OTC Market does not meet such requirements and if the price of our common stock is less than $5.00, our common stock may be deemed a penny stock. The penny stock rules require a broker-dealer, prior to a transaction in a penny stock not otherwise exempt from those rules, to deliver a standardized risk disclosure document containing specified information. In addition, the penny stock rules require that prior to effecting any transaction in a penny stock not otherwise exempt from those rules, a broker-dealer must make a special written determination that the penny stock is a suitable investment for the purchaser and receive (i) the purchaser's written acknowledgment of the receipt of a risk disclosure statement; (ii) a written agreement to transactions involving penny stocks; and (iii) a signed and dated copy of a written suitability statement. These disclosure requirements may have the effect of reducing the trading activity in the secondary market for our common stock, and therefore stockholders may have difficulty selling their shares once our common stock is publicly traded.

Although federal securities laws provide a safe harbor for forward-looking statements made by a public company that files reports under the federal securities laws, this safe harbor is not available to issuers of penny stocks. As a result, we may not have the benefit of this safe harbor protection in the event of any legal action based upon a claim that the material provided by us contained a material misstatement of fact or was misleading in any material respect because of our failure to include any statements necessary to make the statements not misleading. Such an action could hurt our financial condition.

***FINRA sales practice requirements may also limit your ability to buy and sell our common stock, which could depress the price of our shares.***

 

FINRA rules require broker-dealers to have reasonable grounds for believing that an investment is suitable for a customer before recommending that investment to the customer. Prior to recommending speculative low-priced securities to their non-institutional customers, broker-dealers must make reasonable efforts to obtain information about the customer's financial status, tax status and investment objectives, among other things. Under interpretations of these rules, FINRA believes that there is a high probability such speculative low-priced securities will not be suitable for at least some customers. Thus, FINRA requirements make it more difficult for broker-dealers to recommend that their customers buy our common stock, which may limit your ability to buy and sell our shares once publicly traded, have an adverse effect on the market for our shares, and thereby depress our share price.

***Item 1B. Unresolved Staff Comments.***

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Not applicable.

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***Item 1C. Cybersecurity.***

**Cyber Risk Management and Strategy**

We recognize the importance of assessing, identifying, and managing risks from cybersecurity threats. Our approach to cybersecurity risk management is aligned with our risk profile and business.

We intend to leverage the support of third-party information technology and security providers, including to perform a risk assessment designed to identify, assess, and manage cybersecurity risks. Further, we will develop a formal, documented process to assess the data protection practices of certain third-party vendors that may handle sensitive information on our behalf.

Although risks from cybersecurity threats have to date not materially affected, and we do not believe they are reasonably likely to materially affect, us or our business strategy, results of operations or financial condition, we could, from time to time, experience threats and security incidents relating to our and our third-party vendors' information systems. For more information, please see the section entitled "Risk Factors" in this Annual Report on Form 10-K.

**Governance Related to Cybersecurity Risks**

Our Board of Directors is responsible for the strategic leadership and direction of our cybersecurity program. Our Board has oversight over cybersecurity risks. Our management provides periodic presentations to the Board on our cybersecurity program, including updates on cybersecurity risks and related cybersecurity strategy, as applicable.

***Item 2. Properties.***

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We do not own any real estate or other properties materially important to our operations. Our headquarters are currently located in Annapolis, MD and the Company shares space at a location in Herndon, VA. Additionally, the CEO maintains an office at 1213 Culbreth Drive Suite 103, Wilmington, NC 28405. We believe that our current office facilities are suitable and adequate to meet our needs as they are contemplated to be conducted.

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***Item 3. Legal Proceedings.***

In March 2026, the Company received notification of a lawsuit by the holder of the Company's note demanding payment of principal in the amount of $80,000 and accrued interest in the amount $121,883. The Company's legal counsel is current reviewing this case. The company believes this lawsuit is without merit, and plans to vigorously defend its position. The entire amount of principal and interest appears on the Company's balance sheet, and no additional liability has been recorded.

We are not currently involved in any legal proceedings, however, from time to time, we may become a party to various legal actions and complaints arising in the ordinary course of business. In addition to commitments and obligations in the ordinary course of business, we are subject to various claims, pending and potential legal actions for damages, investigations relating to governmental laws and regulations and other matters arising out of the normal conduct of our business. It is possible that cash flows or results of operations could be materially affected in any particular period by the unfavorable resolution of one or more of these contingencies.

***Item 4. Mine Safety Disclosure.***

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Not applicable.

**PART II**

***Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.***

**Market Information**

Our common stock was previously quoted on the OTC ID (formerly the OTC Pink) market under the symbol "SWET." On September 16, 2019, the U.S. Securities and Exchange Commission (the "SEC") instituted administrative proceedings against the Company pursuant to Section 12(j) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), File No. 3-19456, due to the Company's failure to comply with the reporting requirements of Section 13(a) of the Exchange Act, including the filing of annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K. On October 8, 2019, the SEC issued an order revoking the registration of each class of the Company's securities registered pursuant to Section 12 of the Exchange Act.

As a result of the revocation, our common stock ceased trading on the OTC ID market, and since October 2019, our common stock has not been listed, traded, or quoted on any national stock exchange or on the OTC Markets.

On September 8, 2025, we filed a Registration Statement on Form 10 with the SEC to re-register our common stock and resume our reporting obligations under the Exchange Act. Following the effectiveness of that Registration Statement, we filed our Quarterly Report on Form 10-Q for the third quarter of 2025. On January 23, 2026, we filed an amendment on Form 10-12G/A addressing SEC staff comments.

As of the date of this Annual Report on Form 10-K, our common stock is not registered to trade on any exchange. It is our intention to seek quotation of our common stock on a national exchange (e.g. NYSE or Nasdaq) or another platform maintained by OTC Markets Group, Inc. (the "OTC Markets"). In order for our common stock to become eligible for quotation on the OTC Markets, a broker-dealer member of the Financial Industry Regulatory Authority ("FINRA") must file a Form 211 with FINRA and commit to make a market in our securities. As of the date of this Annual Report, a Form 211 has not been filed with FINRA by any broker-dealer. There can be no assurance that our common stock will become eligible for quotation or that an active trading market will develop.

**Holders**

As of March 18, 2026, there were approximately 1,421 holders of our common stock.

**Dividends**

We have never declared or paid any cash dividends on our common stock, nor do we anticipate paying any in the foreseeable future. We expect to retain any future earnings to finance our operations and expansion. The payment of cash dividends in the future will be at the discretion of our Board of Directors and will depend upon our earnings levels, capital requirements, any restrictive loan covenants and other factors the Board considers relevant.

**Unregistered Sales of Equity Securities and Use of Proceeds**

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On March 31, 2025, the Company issued 60,000 shares of common stock sold for cash and warrants to purchase an additional 60,000 shares of common stock at an exercise price of $1.00 per share to certain accredited investors. The aggregate consideration received was $60,000 in cash.

In June 2025, the Company issued 190,000 shares of common stock and warrants to purchase an additional 190,000 shares of common stock at an exercise price of $1.00 per share to certain accredited investors. The aggregate consideration received was $190,000 in cash.

On June 30, 2025, the Company issued 150,000 shares of common stock to its directors in satisfaction of $150,000 in accrued director fees, based on a conversion price of $1.00 per share.

On June 30, 2025, the Company issued 250,000 shares of common stock to a related party in satisfaction of a note payable in the amount of $250,000, based on a conversion price of $1.00 per share.

On June 30, 2025, the Company issued 180,000 shares of common stock to its officers in satisfaction of $180,000 in accrued salaries, based on a conversion price of $1.00 per share.

On September 3, 2025, the Company issued 773,850 shares of common stock to a board member from common stock to be issued, for the prior conversion of preferred stock.

On September 29, 2025, the Company issued 500,000 shares of common stock at a price of $1.00 per share to certain accredited investors. The aggregate consideration received was $500,000 in cash.

On September 30, 2025, the Company issued 1,883,700 shares of common stock to a board member from common stock to be issued, for the prior conversion of preferred stock.

On September 30, 2025, the Company issued 150,000 shares of common stock at a price of $1.00 per share for the exercise of warrants at a price of $1.00 per share. There was no gain or loss recorded on this transaction as the conversion occurred at the exercise price established in the warrant agreement.

On December 29, 2025, the Company issued 100,000 shares of common stock at a price of $1.00 per share for the exercise of warrants at a price of $1.00 per share. There was no gain or loss recorded on this transaction as the conversion occurred at the exercise price established in the warrant agreement.

On December 29, 2025, the Company issued 1,125,000 shares of common stock with a fair value of $1,125,000 to its President as compensation for services. The Company charged the amount of $1,125,000 to stock based compensation.

**Repurchases**

We did not repurchase any shares during the fourth quarter of the fiscal year covered by this Annual Report on Form 10-K.

***Item 6. [Reserved]***

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

**Cautionary Note Regarding Forward Looking Statements**

This report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future trends and operating results, our future capital needs and ability to obtain financings and liquidity. All statements other than statements of historical facts contained in this report, including statements regarding our future financial position, liquidity, working capital sources, business strategy and plans and objectives of management for future operations, are forward-looking statements. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs.

The results anticipated by any or all of these forward-looking statements might not occur. Important factors, uncertainties and risks that may cause actual results to differ materially from these forward-looking statements include the future impact of the geopolitical conflicts in Israel and Ukraine, inflation and Federal Reserve interest rate increases in response thereto on the economy including the potential for a recession, downturn in economic activity and the capital markets.

**Background of the Company**

KiNRG, Inc. is a green energy company. Our core objective and focus is to become a leading provider of clean efficient green energy to the world communities at a reasonable cost without the destructive residuals of fossil fuel, while continuing to generate innovative technological solutions for today and tomorrow's electrical power needs. KiNRG has designed, engineered, developed and is preparing to construct smaller and large "HydroThermal Reactors" that use benevolent, non-toxic natural elements to generate electricity economically by integrating and synthesizing numerous proven as well as emerging technologies. In addition to constructing HydroThermal Reactors in the United States and abroad, the Company intends to establish partnerships at home and abroad to propagate these systems and meet increasing global demand for electricity. We have assembled a team of experienced business professionals, engineering, and scientific consultants from institutions including University of Oklahoma, Penn State University, Georgia Teck, NC State and Milwaukee School of Engineering with the proven ability to bring the idea to market. KiNRG has filed and been issued patents. KiNRG has an office in Annapolis, MD, a shared office in Herdon, VA, and the CEO maintains an office in Wilmington, NC

**Overview**

Our core objective and focus is to become a leading provider of clean efficient green energy and green hydrogen to the world communities at a reasonable cost without the destructive residuals of fossil fuel, while continuing to generate innovative technological solutions for today and tomorrow's electrical power needs.

We have assembled a team of experienced business professionals, engineering and scientific consultants with the proven ability to bring the idea to market. We have filed and been issued six patents in the United State and two patents outside the United States with additional patents pending outside the United States.

We have designed, engineered, developed and are preparing to construct both smaller and large HydroThermal Reactors (HTR's) that use benevolent, non-toxic natural elements to generate electricity economically by integrating and synthesizing numerous proven as well as emerging technologies. In addition to constructing smaller and large HTR's in the United States and abroad, the Company intends to establish partnerships at home and abroad to propagate these systems and meet increasing global demand for electricity. The Company is developing a smaller "modular" reactor to support AI data centers and other applications where a constant 24/7/365 base load is required. The Company has been focused on retooling the large HTR's and is concentrating on the smaller HTR's which will produce far less total annual megawatt hours but is designed to meet the needs of emerging AI data center energy requirements, which require a base load of energy 24/7/365. The large HTR's is better suited to support the green hydrogen market. The smaller modular HTR will require less than half of the concrete needed for the large HTR, one third of the water, and can be constructed in approximately half the time.

The large HTR is estimated to cost $2.2 billion and requires 36 months to construct. The large HTR is designed to generate the maximum amount of energy over the year by utilizing the hottest and driest hours during the year which require the taller distance for the reactor to accommodate the evaporative process. Combining the large HTR with a Green Hydrogen production facility (which costs approximately $1.4 billion and would be developed by others), seeks to produce Green Hydrogen at a competitive cost.

The smaller HTR is estimated to cost less than $1.5 billion. Unlike the taller HTR, it is designed to maximize production during the coolest hours of the year and support a base load required by data centers. The reactor's height is shortened to accommodate the shorter distance to support the evaporating process for cooler and more damp conditions. By comparison, the smaller HTR can be constructed in 12 to 15 months, uses less water and can be adapted to more climates. When connected to a data center (by others) the smaller HTR is projected to produce 150 MW's to 200 MW's of reliable power, 24/7/365, and by-pass the need for the data center to require power from the grid. After completion of construction, the reactors will be immediately operational. Each of the individual operating systems is tested and operational as part of the construction completion process. Those systems include the water injection system, turbine and hydraulic pressure system, generator production system, water collection and pumping system. The reactor is simply activated by the water injection system, and the entire reactor is immediately operational. However, the timeline to full operational status could be affected by factors such as final local inspections, interconnection testing with any co-located facilities (e.g., data centers or hydrogen production plants), or unforeseen commissioning delays, which we estimate could add several months in some cases, though we anticipate minimal delays given the integrated testing during construction.

The Company intends to pursue project financing to fund the construction of both its smaller and large HTR's. Obtaining such project financing is expected to be contingent upon the Company entering into long-term power purchase agreements (also known as off-take agreements) with customers for each project. These agreements would guarantee the purchase and price of the energy produced, thereby providing a basis for ensuring that any debt associated with the project financing can be repaid. This method of financing is commonly used for renewable energy projects in the United States. If the Company is required to raise equity capital in connection with project financing, it intends to pursue equity investors for individual HTR projects and may seek assignments of proceeds from available investment tax credits or production tax credits. There can be no assurance that project financing will be available on acceptable terms or at all, or that any required equity capital or tax credits will be obtainable, which could materially impact the Company's ability to develop and construct its HTR's.

Permitting for smaller and large HTR's varies from state to state and country to country. In the United States, because the HTR has no carbon or toxic emission, there are no time-consuming Federal air permits required under laws such as the Clean Air Act. Other federal approvals, such as those related to water resources on federal lands (e.g., under the Bureau of Land Management if applicable) or environmental reviews under the National Environmental Policy Act (NEPA) or Endangered Species Act, are not anticipated based on our current design, but could arise depending on site-specific factors like proximity to protected habitats or federal waterways. Projects are completely "Behind the Meter" where no rights of way beyond the project site are required and they can be permitted by local jurisdictions. Local permits will vary depending on local procedures, rules and regulations. States will not require emission permits because the reactors have zero carbon emissions. The reactors will require standard construction permits conforming to local codes and water permits which will also vary from state to state as well as local jurisdictions. For construction permits, the typical process involves submitting site plans and engineering designs to local building departments for review, potential public comment periods, and inspections during construction, with timelines generally ranging from 3-12 months depending on jurisdiction complexity. Water permits, which may involve demonstrating sustainable sourcing and usage, are typically handled by state agencies (e.g., the California State Water Resources Control Board if sited in California) and could take 3-18 months, including assessments of water rights, availability, and environmental impact. In California, where we are investigating feasibility, additional state-level reviews under the California Environmental Quality Act (CEQA) may apply, potentially extending timelines if environmental impact reports are required. No site has currently been selected to evaluate the specific permitting requirements for any site, and as a result, no federal, state, or local approvals are currently in process or have been sought. No site has currently been selected to evaluate the specific permitting requirements for any site.

Each HTR project will seek "off take" agreements for its energy which it will need to obtain financing for each project. We anticipate that each project may involve different participants and dictate various structures for which the financing may not be available.

**Plan of Operation**

Our Company's core objective and focus is to become a leading provider of clean efficient green energy to the world communities at a reasonable cost without the destructive residuals of fossil fuel, while continuing to generate innovative technological solutions for today and tomorrow's electrical power needs.

As a development stage company, KiNRG has yet to earn revenues from its operations. KiNRG is developing plans to design and construct smaller and large HydroThermal Reactors (HTR's) that use benevolent, non-toxic natural elements to generate electricity and clean water economically by integrating and synthesizing numerous proven as well as emerging technologies. In addition to constructing HTR's in the United States and abroad, the Company intends to be prepared to establish partnerships at home and abroad to propagate these systems and meet increasing global demand for clean water and electricity. From our inception in July 2010, we have completed the following milestones, among others:

● The Company has filed various patent applications with the U.S. Patent and Trademark Office to protect its intellectual property. The Company has been awarded six U.S patents and two foreign patents;

● Identified and executed agreements with key industry consultants;

---

| | | | |
|:---|:---|:---|:---|
| Description | Issued by | Issuance Date | Expiration Date |
| Efficient Energy Conversion Devices | United States Patent and Trademark Office | 2/21/12 | 2/20/32 |
| Atmospheric Energy Extraction Devices | United States Patent and Trademark Office | 8/27/13 | 8/26/33 |
| Efficient Energy Conversion Devices and Methods | United States Patent and Trademark Office | 2/4/14 | 2/13/34 |
| Atmospheric Energy Extraction Devices | United States Patent and Trademark Office | 5/20/14 | 5/12/34 |
| Methods and Apparatus for Compression and Release and Conversion of Compressed Air Energy | United States Patent and Trademark Office | 4/27/21 | 4/26/41 |
| Multi-Stage Wind Turbines | United States Patent and Trademark Office | 11/01/22 | 10/31/42 |
| Morocco patent for the Multi-Stage Wind Turbines | Office Marocian De La Propiete Industrielle Et Commerciale | 11/29/24 | 11/29/44 |
| Kuwait Patent for the Multi-Stage Wind Turbines | Ministry of Commence & Industry, Trademarks & Patents Department | 9/30/25 | 9/30/45 |

---

**Critical Accounting Policies and Estimates**

Financial Reporting Release No. 60, published by the SEC, recommends that all companies include a discussion of critical accounting policies used in the preparation of their financial statements. While all these significant accounting policies impact our consolidated financial condition and results of operations, we view certain of these policies as critical. Policies determined to be critical are those policies that have the most significant impact on our consolidated financial statements and require management to use a greater degree of judgment and estimates. Actual results may differ from those estimates.

We believe that given current facts and circumstances, it is unlikely that applying any other reasonable judgments or estimate methodologies would cause a material effect on our consolidated results of operations, financial position or liquidity for the periods presented in this report.

**General**

The Company's Consolidated Financial Statements are prepared in accordance with U.S. generally accepted accounting principles, which require management to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, net revenue, if any, and expenses, and the disclosure of contingent assets and liabilities.

Management bases its estimates on historical experience and on various other assumptions that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Senior management has discussed the development, selection and disclosure of these estimates with the Board of Directors. Management believes that the accounting estimates employed and the resulting balances are reasonable; however, actual results may differ from these estimates under different assumptions or conditions. An accounting policy is deemed to be critical if it requires an accounting estimate to be made based on assumptions about matters that are highly uncertain at the time the estimate is made, if different estimates reasonably could have been used, or if changes in the estimate that are reasonably possible could materially impact the consolidated financial statements. Management believes the following critical accounting policies reflect the significant estimates and assumptions used in the preparation of the Consolidated Financial Statements.

**Basic and Diluted Net Loss Per Share**

We utilize ASC 260, "Earnings Per Share" for calculating the basic and diluted loss per share. In accordance with ASC 260, the basic and diluted loss per share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding. Diluted net loss per share is computed similar to basic net loss per share except that the denominator is adjusted for the potential dilution that could occur if stock options, warrants, and other convertible securities were exercised or converted into common stock. Potentially dilutive securities were not included in the calculation of the diluted net loss per share as their effect would be anti-dilutive.

**Income Taxes**

The Company utilizes ASC 740 "Income Taxes" which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each year-end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Temporary difference between taxable income reported for financial reporting purposes primarily relate to the recognition of debt costs and stock-based compensation expenses. The adoption of ASC 740 *"Income Taxes"* did not have a material impact on the Company's consolidated results of operations or financial condition.

**Revenue Recognition**

The Company has generated no revenues to date. It is the Company's policy that revenue from product sales or services will be recognized in accordance with ASC 606 "Revenue Recognition". Four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured.

Determination of criteria (3) and (4) are based on management's judgments regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. The Company will defer any revenue for which the product was not delivered or is subject to refund until such time that the Company and the customer jointly determine that the product has been delivered or no refund will be required. The Company has not yet generated any revenue to date.

**Fair Value of Financial Instruments**

The Company adopted the provisions under FASB for Fair Value Measurements, which define fair value for accounting purposes, establishes a framework for measuring fair value and expands disclosure requirements regarding fair value measurements. The Company's adoption of these provisions did not have a material impact on its consolidated financial statements. Fair value is defined as an exit price, which is the price that would be received upon sale of an asset or paid upon transfer of a liability in an orderly transaction between market participants at the measurement date. The degree of judgment utilized in measuring the fair value of assets and liabilities generally correlates to the level of pricing observability. Financial assets and liabilities with readily available, actively quoted prices or for which fair value can be measured from actively quoted prices in active markets generally have more pricing observability and require less judgment in measuring fair value. Conversely, financial assets and liabilities that are rarely traded or not quoted have less price observability and are generally measured at fair value using valuation models that require more judgment. These valuation techniques involve some level of management estimation and judgment, the degree of which is dependent on the price transparency of the asset, liability or market and the nature of the asset or liability. The Company has categorized its financial assets and liabilities measured at fair value into a three-level hierarchy in accordance with these provisions.

In January 2010 the FASB issued Update No. 2010-05 "Compensation—Stock Compensation—Escrowed Share Arrangements and Presumption of Compensation" ("2010-05"). 2010-05 re-asserts that the Staff of the Securities Exchange Commission (the "SEC Staff") has stated the presumption that for certain shareholders escrowed share represent a compensatory arrangement. 2010-05 further clarifies the criteria required to be met to establish a position different from the SEC Staff's position. The Company does not believe this pronouncement to have any material impact on its financial position, results of operations or cash flows.

**New Accounting Pronouncements**

In November 2024, the FASB issued ASU 2024-03, "Disaggregation of Income Statement Expenses (DISE)" which requires disaggregated disclosure of income statement expenses for public business entities. The ASU does not change the expense captions an entity presents on the face of the income statement; rather, it requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company does not believe the adoption of this guidance will have a material effect on its Consolidated Financial Statements and segment disclosures.

On July 4, 2025, the One Big Beautiful Bill Act ("OBBBA") was enacted in the U.S. The OBBBA includes significant provisions, such as expensing of U.S. research expenditures and eligible capital expenditures, the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions. The impacts of the OBBBA are reflected in our results for the year ended December 31, 2025, and there was no impact to our income tax expense or effective income tax rate.

In July 2025, the FASB issued ASU 2025-05, which provides a practical expedient for estimating expected credit losses on short term receivables and contract assets from revenue transactions. The guidance permits a simplified loss rate approach based on historical write-off experience and current conditions. The Company is evaluating the standard and its potential effect on the allowance for doubtful accounts and its consolidated financial statements.

**Results of Operations**

**Comparison of the Year Ended December 31, 2025 to the Year Ended December 31, 2024**

***Revenue***

The Company has not generated revenue since inception.

***Selling, General, and Administrative Expenses***

Selling, general, and administrative expenses ("SG&A") were $2,364,934 for the year ended December 31, 2025, an increase of $1,159,580 or 96.2%, compared to $1,205,354 during the year ended December 31, 2024. SG&A expenses consisted primarily of payroll and related costs, stock based compensation, professional fees, consulting expenses, and director compensation.

***Gain on Settlement of Accounts Payable***

 ****

During the year ended December 31, 2025, the Company recorded a gain on settlement of accounts payable in the amount of $4,000. There was no comparable transaction in the prior period.

***Interest Expense***

 ****

Interest expense was $26,548 during the year ended December 31, 2025, a decrease of $15,534 or 36.9%, compared to interest expense of $42,082 during the year ended December 31, 2024. Interest expenses consists of interest on the Company's note payable and related party loan payable.

***Net Loss from Continuing Operations***

 ****

For the reasons above, the Company had a net loss from continuing operations of $2,387,482 for the year ended December 31, 2025, an increase of $1,140,046 compared to $1,247,436 for the year ended December 31, 2024.

***Net Loss from Discontinued Operations***

 ****

Net loss attributable to discontinued operations was $317,123 during the year ended December 31, 2025, an increase of $212,528 or 203.2% compared to $104,595 during the year ended December 31, 2024. Discontinued operations consist of the activities of AGP; the Company sold its interest in AGP on February 17, 2025, and recorded a loss on sale of subsidiary in the amount of $316,343.

***Consolidated Net Loss***

 ****

For the reasons above, consolidated net loss was $2,704,605 during the year ended December 31, 2025, an increase of $1,352,574 or 100.0% compared to $1,352,031during the year ended December 31, 2024.

***Net Loss Attributable to Non-controlling Interest***

 ****

Net loss attributable to non-controlling interest was $0 during the year ended December 31, 2025, a decrease of $20,089 compared to $20,089 during the year ended December 31, 2024. During the prior period, the Company held an 82.77% interest in Arizona Green Power ("AGP"); during the year ended December 31, 2025, the Company sold its interest in AGP, on February 17, 2025.

***Net Loss Attributable to KiNRG***

 ****

For the reasons above, net loss attributable to KiNRG was $2,704,605 during the year ended December 31, 2025, an increase of $1,372,663 compared to $1,331,942 during the year ended December 31, 2024.

***Cash Flows from Operating Activities***

 ****

Cash flows used in operating activities was $698,542 during the year ended December 31, 2025, a decrease of $198,906 or 22.2% compared to $897,448 during the prior period. The Company currently has no sales. Cash flows from operating activities consists of the net loss of $2,704,605 reduced by increases in non-cash costs, primarily loss on sale of subsidiary of $316,343, accrued payroll of $273,183, stock-based compensation of $1,264,173, and accrued liabilities – related party of $100,000.

***Cash Flows Provided by Financing Activities***

 ****

For the year ended December 31, 2025, cash provided by financing activities was $1,000,000, an increase of $400,000 or 66.7% compared to cash provided from financing activities of $600,000 during the prior period. Cash flows from financing activities consisted of proceeds from the sale of common stock of $750,000 and proceeds from the exercise of warrants of $250,000.

**Liquidity and Capital Resources**

As of March 12, 2026, we had cash on hand of approximately $122,583. Management believes this amount is not sufficient to meet our operating needs for the next 12 months, and in order to meet our working capital requirements, we will need to either raise sufficient capital or reduce our expenditures. We will rely on our ability to improve operating cash flow or raise additional capital through the sale of debt or equity securities in addition to our existing cash and cash equivalents to meet our working capital requirements for at least the next 12 months. There can be no assurance that we will be able to obtain additional financing on acceptable terms, or at all, or that we will successfully implement cost-reduction initiatives or generate sufficient cash flows from operations.

The Company's consolidated financial statements for the years ended December 31, 2025 and 2024 were prepared under the assumption that it would continue operations as a going concern. However, the factors listed above cause substantial doubt about the Company's ability to continue as a going concern. Additionally, the report of the Company's independent registered public accounting firm that accompanies the Company's consolidated financial statements for the years ended December 31, 2025 and 2024 contains a qualification in which such firm expressed substantial doubt about the Company's ability to continue as a going concern. If we are unable to secure additional funding or achieve profitability, we may be required to curtail or cease operations, which could materially adversely affect our business, financial condition, results of operations, and prospects.

We have financed our operations since inception primarily through private offerings of our equity securities and debt financing.

 

The Company is in a pre-development and does not have any revenues from operations and will be dependent on funds raise to satisfy its ongoing capital requirements for at least the next 12 months. The Company will require additional financing in order to execute its operating plan and continue as a going concern. The Company cannot predict whether this additional financing will be in the form of equity or debt, or be in another form. The Company may not be able to obtain the necessary additional capital on a timely basis, on acceptable terms, or at all. In any of these events, the Company may be unable to implement its current plans for expansion or respond to competitive pressures, any of these circumstances would have a material adverse effect on its business, prospects, financial condition and results of operations.

Management expects that global economic conditions will continue to present a challenging operating environment through 2026. To the extent permitted by working capital resources, management intends to continue making targeted investments in strategic operating and growth initiatives. Working capital management will continue to be a high priority for 2026.

While we have been able to manage our working capital needs with the sale of equity, additional financing is required in order to meet our current and projected cash flow requirements from operations. We cannot predict whether this new financing will be in the form of equity or debt. We may not be able to obtain the necessary additional capital on a timely basis, on acceptable terms, or at all. Additional investments are being sought, but we cannot guarantee that we will be able to obtain such investments.

Financing transactions may include the issuance of equity or debt securities, obtaining credit facilities, or other financing mechanisms. However, the trading price of our common stock and the downturn in the U.S. stock and debt markets could make it more difficult to obtain financing through the issuance of equity or debt securities. Even if we are able to raise the funds required, it is possible that we could incur unexpected costs and expenses, fail to collect significant amounts owed to us, or experience unexpected cash requirements that would force us to seek alternative financing. Further, if we issue additional equity or debt securities, stockholders may experience additional dilution or the new equity securities may have rights, preferences or privileges senior to those of existing holders of our common stock. If additional financing is not available or is not available on acceptable terms, we will have to curtail our operations.

**Inflation**

We do not believe that inflation has had a material effect on our business, financial condition or results of operations. However, inflation may have a significant impact on the future cost of HTR's. If our costs were to become subject to significant inflationary pressures, we may not be able to fully offset such higher costs through price increases. Our inability or failure to do so could adversely affect our business, financial condition and results of operations.

**Off-Balance sheet Arrangements**

We do not maintain off-balance sheet arrangements nor do we participate in any non-exchange traded contracts requiring fair value accounting treatment other than the operating leases as disclosed in Notes to Consolidated Financial Statements (Note 4).

***Item 7A. Quantitative and Qualitative Disclosures About Market Risk.***

Not applicable.

***Item 8. Financial Statements and Supplementary Data.***

 ****

**INDEX TO THE FINANCIAL STATEMENTS**

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| | |
|:---|:---|
| Financial Statements for period ended December 31, 2025 |  |
| [Report of Independent Registered Public Accounting Firm (PCAOB ID: 2738)](#f_001) | F-2 |
| [Consolidated Balance Sheets as of December 31, 2025 and 2024](#f_002) | F-3 |
| [Consolidated Statements of Operations for the years ended December 31, 2025 and 2024](#f_003) | F-4 |
| [Consolidated Statements of Stockholders' Deficit for the years ended December 31, 2025 and 2024](#f_004) | F-5 |
| [Consolidated Statements of Cash Flows for the years ended December 31, 2025 and 2024](#f_005) | F-6 |
| [Notes to Consolidated Financial Statements](#f_006) | F-7 |

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![](ea028113101_img1.jpg)

**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

To the Board of Directors and Stockholders of KiNRG, Inc. and subsidiary

Opinion on the Financial Statements

We have audited the accompanying consolidated balance sheets of KiNRG, Inc. and subsidiary (the Company) as of December 31, 2025 and 2024 and the related consolidated statements of operations, stockholders' deficit, and cash flows for the two years period then ended, and the related notes (collectively referred to as the consolidated financial statements). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and the results of its consolidated operations and its cash flows for each of the years in the two-year period ended December 31, 2025, in conformity with accounting principles generally accepted in the United States of America.

The Company's Ability to Continue as a Going Concern

The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern. As discussed in Note 3 to the accompanying consolidated financial statements, the Company has not yet generated any significant revenue, has incurred recurring losses from operations, generated negative cash flows from operating activities and had an accumulated deficit that raises substantial doubt about the Company's ability to continue as a going concern. Management's evaluation of the events and conditions and management's plans in regarding these matters are also described in Note 3. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Basis for Opinion

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit, we are required to obtain an understanding of internal control over financial reporting, 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.

Our audit included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audit provides a reasonable basis for our opinion.

Critical Audit Matter

The critical audit matter communicated below is a matter arising from the current period audit of the financial statements that were communicated or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of the critical audit matter does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing separate opinions on the critical audit matter or on the accounts or disclosures to which it relates.

Going Concern

As discussed in Note 3, the Company has not yet generated any significant revenue, has incurred recurring losses from operations, generated negative cash flows from operating activities and had an accumulated deficit that raises substantial doubt about the Company's ability to continue as a going concern.

We evaluated the appropriateness of the going concern, we examined and evaluated the financial information along with management's plans to mitigate the going concern and management's disclosure on going concern.

/s/ M&K CPAS, PLLC

We have served as the Company's auditor since 2022.

The Woodlands, Texas

March 20, 2026

**KiNRG, Inc.**

**CONSOLIDATED BALANCE SHEETS**

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| | | |
|:---|:---|:---|
|  | **December 31,**<br>**2025** | **December 31,**<br>**2024** |
| ASSETS |  |  |
| Current assets: |  |  |
| Cash | $328466 | $23099 |
| Prepaid expenses |  | 12126 |
| Current assets - discontinued operations | - | 3909 |
| &nbsp;&nbsp;&nbsp;Total current assets | 328466 | 39134 |
| Right of use asset, operating lease | 9471 | 8525 |
| Total assets | $337937 | $47659 |
| LIABILITIES AND STOCKHOLDERS' DEFICIT |  |  |
| Current liabilities: |  |  |
| Accounts payable | 32676 | 18780 |
| Accrued liabilities - related parties | 50000 | 100000 |
| Accrued payroll | 570164 | 476981 |
| Accrued interest | 133883 | 121883 |
| Lease liabilities - operating lease | 9471 | 8525 |
| Loans payable - related party |  | 250000 |
| Notes payable | 80000 | 80000 |
| Other liabilities | 7511 | 11511 |
| Current liabilities - discontinued operations | - | 31265 |
| &nbsp;&nbsp;&nbsp;Total current liabilities | 883705 | 1098945 |
| &nbsp;&nbsp;&nbsp;Total liabilities | 883705 | 1098945 |
| Commitments and Contingencies |  |  |
| Stockholders' equity (deficit) |  |  |
| &nbsp;&nbsp;&nbsp;Preferred stock, par value $0.0001 per share; 10,000,000 shares authorized, 5,424,700 shares undesignated |  |  |
| &nbsp;&nbsp;&nbsp;Series A Convertible Preferred stock, par value $0.0001 per share, 500,000 shares designated, 0 shares issued and outstanding at December 31, 2025 and 2024 |  |  |
| &nbsp;&nbsp;&nbsp;Series AA Convertible Preferred stock, par value $0.0001 per share, 3,000,000 shares designated, 0 shares issued and outstanding at December 31, 2025 and 2024 |  |  |
| &nbsp;&nbsp;&nbsp;Series AAA Convertible Preferred stock, $0.0001 per share, 70,000 shares designated, 0 shares issued and outstanding at December 31, 2025 and 2024 |  |  |
| &nbsp;&nbsp;&nbsp;Series AAAA Convertible Preferred stock, $0.0001 per share, 1,005,300 shares designated, 0 shares issued and outstanding at December 31, 2025 and 2024 |  |  |
| &nbsp;&nbsp;&nbsp;Common stock, par value $0.0001, 250,000,000 shares authorized, 56,900,743 and 51,538,193 shares issued and outstanding at December 31, 2025 and 2024, respectively | 5690 | 5154 |
| &nbsp;&nbsp;&nbsp;Common stock to be issued, 0 and 2,657,550 shares at December 31, 2025 and 2024, respectively |  | 265 |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital | 28465847 | 25607397 |
| &nbsp;&nbsp;&nbsp;Accumulated deficit | (29017305) | (26312700) |
| &nbsp;&nbsp;&nbsp;Stockholders' deficit attributable to KiNRG, Inc. | (545768) | (699884) |
| &nbsp;&nbsp;&nbsp;Non-controlling interest | - | (351402) |
| Total stockholders' deficit | (545768) | (1051286) |
| Total liabilities and stockholders' equity | $337937 | $47659 |

---

See the accompanying notes to the consolidated financial statements.

**KiNRG, Inc.**

**CONSOLIDATED STATEMENTS OF OPERATIONS**

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| | | |
|:---|:---|:---|
|  | **Year Ended December 31,** | **Year Ended December 31,** |
|  | **2025** | **2024** |
| Operating expenses: |  |  |
| Selling, general, and administrative expenses | $2364934 | $1205354 |
| &nbsp;&nbsp;&nbsp;Total operating expenses | 2364934 | 1205354 |
| Operating loss | (2364934) | (1205354) |
| Other expenses: |  |  |
| Gain on settlement of accounts payable | 4000 |  |
| Interest expense | (26548) | (42082) |
| &nbsp;&nbsp;&nbsp;Total other expenses | (22548) | (42082) |
| Loss before provision for income taxes | (2387482) | (1247436) |
| Provision for income taxes | - | - |
| Net loss from continuing operations | (2387482) | (1247436) |
| Net loss from discontinued operations | (317123) | (104595) |
| Consolidated net loss | $(2704605) | $(1352031) |
| Less: Net loss attributable to non-controlling interest | - | (20089) |
| Net loss attributable to KiNRG, Inc. | $(2704605) | $(1331942) |
| Net loss per common share from continuing operations, basic and diluted | $(0.043) | $(0.024) |
| Net loss per common share from discontinued operations, basic and diluted | $(0.006) | $(0.002) |
| Net loss per common share, basic and diluted | $(0.049) | $(0.026) |
| Weighted-average number of common shares outstanding, basic and diluted | 54832811 | 51190679 |

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**KiNRG, Inc.**

**CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT**

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| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Series A Preferred** | **Series A Preferred** | **Series AA Preferred** | **Series AA Preferred** | **Series AAA Preferred** | **Series AAA Preferred** | **Series AAAA Preferred** | **Series AAAA Preferred** | **Common Stock** | **Common Stock** | **Common Stock<br> To Be Issued** | **Common Stock<br> To Be Issued** | | | | |
|  | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Additional<br> Paid-in**<br>**Capital** | **Accumulated**<br>**Deficit** | **Non-controlling**<br>**Interest** |<br>**Total** |
| **Balance, December 31, 2023** |  | $&nbsp;&nbsp;&nbsp;&nbsp; - |  | $&nbsp;&nbsp;&nbsp;&nbsp; - |  | $&nbsp;&nbsp;&nbsp;&nbsp; - |  | $&nbsp;&nbsp;&nbsp;&nbsp; - | 50938193 | $5094 | 2657550 | $265 | $24838202 | $(24980758) | $(331313) | $(468510) |
| Vesting of compensatory warrants |  |  |  |  |  |  |  |  |  |  |  | **-** | 139173 |  |  | 139173 |
| Common stock sold for cash |  |  |  |  |  |  |  |  | 600000 | 60 |  |  | 599940 |  |  | 600000 |
| Imputed interest on related party loans |  |  |  |  |  |  |  |  |  |  |  |  | 30082 |  |  | 30082 |
| Net loss for the year ended December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  | (1331942) | (20089) | (1352031) |
| **Balance, December 31, 2024** |  | $- |  | $- |  | $- |  | $- | 51538193 | $5154 | 2657550 | $265 | $25607397 | $(26312700) | $(351402) | $(1051286) |
| Vesting of compensatory warrants |  |  |  |  |  |  |  |  |  |  |  | **-** | 139173 |  |  | 139173 |
| Common stock sold for cash |  |  |  |  |  |  |  |  | 750000 | 75 |  |  | 749925 |  |  | 750000 |
| Common stock issued for services |  |  |  |  |  |  |  |  | 1125000 | 113 |  |  | 1124887 |  |  | 1125000 |
| Common stock issued for exercise of warrants |  |  |  |  |  |  |  |  | 250000 | 25 |  |  | 249975 |  |  | 250000 |
| Common stock issued to directors for conversion of fees |  |  |  |  |  |  |  |  | 150000 | 15 |  |  | 149985 |  |  | 150000 |
| Common stock issued to officers for conversion of salaries |  |  |  |  |  |  |  |  | 180000 | 18 |  |  | 179982 |  |  | 180000 |
| Common stock issued for conversion of note payable |  |  |  |  |  |  |  |  | 250000 | 25 |  |  | 249975 |  |  | 250000 |
| Common stock issued from shares to be issued |  |  |  |  |  |  |  |  | 2657550 | 265 | (2657550) | (265) |  |  |  |  |
| Imputed interest on related party loans |  |  |  |  |  |  |  |  |  |  |  |  | 14548 |  |  | 14548 |
| Derecognition of subsidiary |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 351402 | 351402 |
| Net loss for the year ended December 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  | (2704605) |  | (2704605) |
| **Balance, December 31, 2025** |  | $- |  | $- |  | $- |  | $- | 56900743 | $5690 | - | $- | $28465847 | $(29017305) | $- | $(545768) |

---

**KiNRG, Inc.**

**CONSOLIDATED STATEMENTS OF CASH FLOWS**

---

| | | |
|:---|:---|:---|
|  | **For the**<br>**Year Ended**<br>**December 31,**<br>**2025** | **For the**<br>**Year Ended**<br>**December 31,**<br>**2024** |
| **CASH FLOWS FROM OPERATING ACTIVITIES** |  |  |
| Net loss | $(2704605) | $(1352031) |
| Adjustments to reconcile net loss to net cash used in operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;Stock based compensation | 1264173 | 139173 |
| &nbsp;&nbsp;&nbsp;Imputed interest on loans payable | 14548 | 30082 |
| &nbsp;&nbsp;&nbsp;Loss on sale of subsidiary | 316343 |  |
| Changes in current assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Right-of-use asset | 10309 | 9892 |
| &nbsp;&nbsp;&nbsp;Prepaid assets | 12126 | (12126) |
| &nbsp;&nbsp;&nbsp;Accounts payable | 13690 | 18780 |
| &nbsp;&nbsp;&nbsp;Accrued liabilities - related party | 100000 | 100000 |
| &nbsp;&nbsp;&nbsp;Accrued interest | 12000 | 12000 |
| &nbsp;&nbsp;&nbsp;Accrued payroll | 273183 | 183516 |
| &nbsp;&nbsp;&nbsp;Other liabilities |  | (16842) |
| &nbsp;&nbsp;&nbsp;Operating lease liability | (10309) | (9892) |
| Net cash used in operating activities | (698542) | (897448) |
| **CASH FLOWS FROM INVESTING ACTIVITIES** |  |  |
| None. |  |  |
| **CASH FLOWS FROM FINANCING ACTIVITIES** |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from sale of common stock | 750000 | 600000 |
| &nbsp;&nbsp;&nbsp;Proceeds from exercise of warrants | 250000 | - |
| Net cash provided by financing activities | 1000000 | 600000 |
| Net increase (decrease) in cash and cash equivalents | 301458 | (297448) |
| Cash and cash equivalents at beginning of period | 27008 | 324456 |
| Cash and cash equivalents at end of period | $328466 | $27008 |
| Cash and cash equivalents at end of period - continuing operations | $328466 | $23099 |
| Cash and cash equivalents at end of period - discontinued operations | $- | $3909 |
| **SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:** |  |  |
| Interest paid | $- | $- |
| Income taxes paid | $- | $- |
| **NON-CASH INVESTING AND FINANCING ACTIVITIES:** |  |  |
| &nbsp;&nbsp;&nbsp;Establish right-of-use asset and liability | $11255 | $10130 |
| &nbsp;&nbsp;&nbsp;Common stock issued for conversion of loan payable - related party | $250000 | $- |
| &nbsp;&nbsp;&nbsp;Common stock issued to directors for conversion of fees | $150000 | $- |
| &nbsp;&nbsp;&nbsp;Common stock issued to officers for conversion of salaries | $180000 | $- |
| &nbsp;&nbsp;&nbsp;Common stock issued for services | $113 | $- |
| &nbsp;&nbsp;&nbsp;Common stock issued from shares to be issued | $265 | $- |

---

**KiNRG, Inc.**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**December 31, 2025 and 2024**

**NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

<u>Description of Business</u>

KiNRG is a green energy company. Our core objective and focus is to become a leading provider of clean efficient green energy and green hydrogen to the world communities at a reasonable coast without the destructive residual of fossil fuel, while continuing to generate innovative technological solutions for today and tomorrow's electrical power needs. We have assembled a team of experienced business professionals, engineering and scientific consultants with the proven ability to bring the idea to market. We have filed and been issued patents. We have designed, engineered, developed and are preparing to construct both smaller and large HydroThermal Reactors that use benevolent, non-toxic natural elements to generate electricity economically by integrating and synthesizing numerous proven as well as emerging technologies. In addition to constructing smaller and large HydroThermal Reactors in the United States and abroad, the Company intends to establish partnerships at home and abroad to propagate these systems and meet increasing global demand for electricity. The Company is developing a smaller "modular" reactor to support AI data centers and other applications where a constant 24/7/365 base load is required.

<u>Basis of Presentation</u>

The accompanying consolidated financial statements present on a consolidated basis the accounts of the Company and subsidiaries. The Company presents noncontrolling interest within the equity section of its consolidated balance sheets and the amount of consolidated net income (loss) that is attributable to the Company and to the noncontrolling interest in its consolidated statement of operations. All significant intercompany accounts and transactions have been eliminated in consolidation.

<u>Discontinued Operations</u>

Pursuant to the guidance of Accounts Standards Codification ("ASC") 205-20, *Presentation of Financial Statements* – *Discontinued Operations,* the accounts of our discontinued entity Arizona Green Power ("AGP") have been included in "Net loss from discontinued operations" in our consolidated statements of operations until such time as the entity was sold; this sale occurred February 17, 2025. See note 2. Additionally, the assets and liabilities of this entity have been presented as discontinued operations in our consolidated balance sheets.

<u>Reclassifications</u>

Certain amounts presented in the financial statements of the prior period have been reclassified to conform with the current period presentation of discontinued operations. See Note 2.

<u>Fair Value of Financial Instruments</u>

The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and has adopted paragraph 820-10-35-37 of the FASB Accounting Standards Codification ("Paragraph 820-10-35-37") to measure the fair value of its financial instruments. Paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a framework for measuring fair value in generally accepted accounting principles (GAAP) and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by paragraph 820-10-35-37 of the FASB Accounting Standards Codification are described below:

---

| | |
|:---|:---|
| Level 1 | Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. |

---

---

| | |
|:---|:---|
| Level 2 | Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. |
| Level 3 | Pricing inputs that are generally observable inputs and not corroborated by market data. |

---

Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable.

The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument.

Our short-term financial instruments, including cash, other assets, and accounts payable and accrued expenses consist primarily of instruments without extended maturities, the fair value of which, based on management's estimates, reasonably approximate their book value. The fair value of our notes and advances payable is based on management estimates and reasonably approximates their book value based on their current maturity.

<u>Use of Estimates</u>

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the recoverability and useful lives of long-lived assets, the fair value of the Company's stock, stock-based compensation, and the valuation allowance related to deferred tax assets. Actual results may differ from these estimates.

<u>Long-Lived Assets</u>

The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable in accordance with Topic ASC 360, "Property, Plant and Equipment". Recoverability is measured by comparison of the carrying amount to the future net cash flows which the assets are expected to generate. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the projected discounted future cash flows arising from the asset using a discount rate determined by management to be commensurate with the risk inherent to our current business model.

<u>Net Loss per Common Share</u>

The Company computes net loss per share under Accounting Standards Codification subtopic 260-10, Earnings Per Share ("ASC 260-10"). Basic net income (loss) per common share is computed by dividing net loss by the weighted average number of shares of common stock. Diluted net loss per share is computed using the weighted average number of common and common stock equivalent shares outstanding during the period. There is no effect on diluted loss per share since the common stock equivalents are anti-dilutive. Dilutive common stock equivalents consist of shares issuable upon the exercise of warrants. Fully diluted shares as of December 31, 2025 and 2024 were 56,915,743 and 55,335,743, respectively.

<u>Revenue Recognition</u>

The Company has generated no revenues to date. It is the Company's policy that revenue from product sales or services will be recognized in accordance with Financial Accounting Standards Board "FASB" Accounting Standards Codification "ASC" 606. A five-step analysis must be met as outlined in Topic 606: (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations, and (v) recognize revenue when (or as) performance obligations are satisfied. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded.

<u>Stock Based Compensation</u>

The Company measures and recognizes stock-based compensation expense based on the grant date fair value of the awards. The Company accounts for forfeitures as they occur. The grant date fair value of stock options and warrants with service-based vesting only is estimated using the Black-Scholes option pricing model.

The Black-Scholes model requires the use of highly subjective assumptions, including the award's expected term, the fair value of the underlying common stock, the expected volatility of the price of the common stock, risk-free interest rates, and the expected dividend yield of the common stock.

The assumptions used to determine the fair value of the stock-based awards are management's best estimates and involve inherent uncertainties and the application of judgment. The expected term represents the period that the Company's stock-based awards are expected to be outstanding. As the Company does not have sufficient historical experience for determining the expected term of the stock option awards granted, it has based its expected term on the simplified method available under U.S. GAAP.

Stock-based compensation expense for awards with financial performance conditions is recognized over the requisite service period. Stock-based compensation expense for awards with service-based vesting only is recognized on a straight-line basis over the requisite service period of the awards. The vesting period of these awards is generally four years.

<u>Income Taxes</u>

The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of items that have been included or excluded in the financial statements or tax returns. Deferred tax assets and liabilities are determined on the basis of the difference between the tax basis of assets and liabilities and their respective financial reporting amounts ("temporary differences") at enacted tax rates in effect for the years in which the temporary differences are expected to reverse.

The Company adopted the provisions of Accounting Standards Codification ("ASC") Topic 740-10, which prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return.

Management has evaluated and concluded that there were no material uncertain tax positions requiring recognition in the Company's consolidated financial statements as of December 31, 2025 and 2024. The Company does not expect any significant changes in its unrecognized tax benefits within twelve months of the reporting date.

The Company's policy is to classify assessments, if any, for tax related interest as interest expense and penalties as general and administrative expenses in the consolidated statements of operations.

<u>Advertising Costs</u>

All costs associated with advertising and promotion are expensed as incurred. Total recognized advertising and promotion expenses were $500 and $0 for the years ended December 31, 2025 and 2024, respectively.

<u>Research and Development</u>

In accordance with ASC 730, "Research and Development", the Company expenses all research and development costs as incurred. The Company incurred $0 of research and development costs for the years ended December 31, 2025 and 2024. The company expects the research and development costs to increase in the future as it continues to invest in the infrastructure that is critical to achieve our business goals and objectives.

<u>Cash and Cash Equivalents</u>

For purposes of the statement of cash flows, cash and cash equivalents includes demand deposits, saving accounts and money market accounts. The Company considers all highly liquid debt instruments with maturities of three months or less when purchased to be cash and cash equivalents. As of December 31, 2025 and 2024, the Company had cash in excess of the $250,000 FDIC insured amount in the amounts of $78,466 and $0, respectively.

<u>Related Parties</u>

The Company follows the ASC 850-10 Related Party for the identification of related parties and disclosure of related party transactions.

Pursuant to section 850-10-20 the related parties include a) affiliates of the Company; b) entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of section 825–10–15, to be accounted for by the equity method by the investing entity; c) trusts for the benefit of employees, such as pension and Income-sharing trusts that are managed by or under the trusteeship of management; d) principal owners of the Company; e) management of the Company; f) other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and g) other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests.

The consolidated financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: a) the nature of the relationship(s) involved; b) a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; c) the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and d) amount due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement.

<u>Commitments and Contingencies</u>

The Company follows the ASC 450-20, Commitments to report accounting for contingencies. Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company, but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or un-asserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein.

If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company's consolidated financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed.

Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not believe, based upon information available at this time, that these matters will have a material adverse effect on the Company's financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company's business, financial position, and results of operations or cash flows.

<u>Recently Issued Accounting Pronouncements</u>

In November 2023, the FASB issued ASU 2023-07, *Segment Reporting* (Topic 280): *Improvements to Reportable Segment Disclosures*. The amended guidance requires incremental reportable segment disclosures, primarily about significant segment expenses. The amendments also require entities with a single reportable segment to provide all disclosures required by these amendments, and all existing segment disclosures. The amendments will be applied retrospectively to all prior periods presented in the financial statements and is effective for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024, with early adoption permitted. We adopted this guidance on January 1, 2024 and have included it in our annual disclosures; however, it did not impact our financial condition, results of operations, or cash flows. For additional information, see "Note 15—Segment Information."

On July 4, 2025, the One Big Beautiful Bill Act ("OBBBA") was enacted in the U.S. The OBBBA includes significant provisions, such as expensing of U.S. research expenditures and eligible capital expenditures, the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions. The impacts of the OBBBA are reflected in our results for the year ended December 31, 2025, and there was no impact to our income tax expense or effective income tax rate.

<u>Accounting Standards Issued, Not Adopted</u>

In July 2025, the FASB issued ASU 2025-05, which provides a practical expedient for estimating expected credit losses on short term receivables and contract assets from revenue transactions. The guidance permits a simplified loss rate approach based on historical write-off experience and current conditions. This update is effective for fiscal years beginning after December 15, 2025, and interim periods within those annual reporting periods. Early adoption is permitted. We are evaluating the impact this update will have on our annual disclosures; however, we do not anticipate a material impact to our financial condition, results of operations, or cash flows.

In November 2024, the FASB issued Accounting Standard Update No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses ("ASU 2024-03"). This standard requires additional disclosures over certain expenses, including purchases of inventory, employee compensation, depreciation, intangible asset amortization, and other specific expense categories. This standard also requires disclosure of the total amount of selling expenses and the Company's definition of selling expenses. This update is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. We are evaluating the impact this update will have on our annual disclosures; however, we do not anticipate a material impact to our financial condition, results of operations, or cash flows.

**NOTE 2: DISCONTINUED OPERATIONS**

From November 17, 2015 through December 31, 2023, through its subsidiary Arizona Green Power ("AGP"), the Company had entered into an agreement (the "Land Option Agreement"), and a series of amendments to said agreement, to purchase land in Arizona. The Land Option Agreement expired in March 2024. With the expiration of the Land Option Agreement, the Company has made the strategic decision to divest itself from AGP.

On February 17, 2025, the Company completed the sale of its majority interest in AGP to Ron Pickett, its CEO, for the amount of $1. This amount was credited against the amount due to Mr. Pickett for business expenses. The were no assets on the books of AGP. The Company de-recognized the liabilities of AGP and the balance of non-controlling interest. The gain on sale of AGP to related party was recognized in additional paid-in capital as follows:

---

| | |
|:---|:---|
| Other Liabilities | $(35058) |
| Non-controlling interest | 351402 |
| Accounts payable | (1) |
| Loss on sale of subsidiary | $(316343) |

---

The following information presents the major classes of line item of assets and liabilities included as part of discontinued operations in the consolidated balance sheets:

---

| | | |
|:---|:---|:---|
|  | **December 31,**<br>**2025** | **December 31,**<br>**2024** |
| Current assets - discontinued operations: |  |  |
| Cash | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | $3909 |
| Total current assets - discontinued operations | $- | $3909 |
| Current liabilities - discontinued operations: |  |  |
| Other liabilities | - | 31265 |
| Total current liabilities - discontinued operations | $- | $31265 |

---

The following information presents the major classes of line items constituting the after-tax loss from discontinued operations in the consolidated statements of operations:

---

| | | |
|:---|:---|:---|
|  | **Twelve Months Ended** | **Twelve Months Ended** |
|  | **December 31,**<br>**2025** | **December 31,**<br>**2024** |
| Selling, general, and administrative expenses | 780 | 104595 |
| Loss on sale of subsidiary | 316343 | - |
| Loss from discontinued operations, net of tax | $317123 | $104595 |

---

The following information presents the significant operating cash flow activities in the consolidated statements of cash flows relating to discontinued operations:

---

| | | |
|:---|:---|:---|
|  | **Twelve Months Ended** | **Twelve Months Ended** |
|  | **December 31,**<br>**2025** | **December 31,**<br>**2024** |
| Operating activities of discontinued operations |  |  |
| Net loss from discontinued operations | $(317123) | $(104595) |
| Loss on sale of subsidiary | 316343 |  |
| Changes in current assets and liabilities: |  |  |
| Accounts payable | 3791 | (16844) |

---

**NOTE 3: GOING CONCERN**

For the years ended December 31, 2025 and 2024, the Company incurred a net loss from continuing operations of $2,387,482 and $1,247,436, respectively, and has an accumulated deficit of $29,017,305 as of December 31, 2025. At December 31, 2025, we have a working capital deficit of $555,239, compared to $1,059,811 at December 31, 2024.

The Company has been dependent on raising capital through debt and equity financings to meet its needs for cash used in operating and investing activities. During the year ended December 31, 2025, the Company received proceeds of $750,000 from the sale of common stock and proceeds of $250,000 from the exercise of common stock warrants. During the year ended December 31, 2024, the Company received proceeds of $600,000 from the sale of common stock. Until the Company can generate positive cash from operations, it will need to raise additional funding to meet its liquidity needs and to execute its business strategy. As in the past, the Company will seek debt and/or equity financing, which may not be available on reasonable terms, if at all.

The Company's audited consolidated financial statements for the year ended December 31, 2025 and 2024 were prepared under the assumption that it would continue operations as a going concern. However, the report of the Company's independent registered public accounting firm that accompanies the Company's consolidated financial statements for the year ended December 31, 2025 contains a qualification in which such firm expressed substantial doubt about the Company's ability to continue as a going concern.

**NOTE 4: RIGHT-OF-USE ASSETS AND LEASE LIABILITIES** – **OPERATING LEASES**

The Company has operating leases for offices and has recognized a right-of-use asset and a lease liability. The Company uses a 12% rate to determine the present value of the lease payments. The Company's leases have remaining lease terms of less than 1 year.

The Company's lease expense was entirely comprised of operating leases. Lease expense for the years ended December 31, 2025 and 2024 amounted to $11,000 and $10,550, respectively.

The Company's ROU asset amortization for the years ended December 31, 2025 and 2024 was $10,308 and $9,893, respectively. The difference between the lease expense and the associated ROU asset amortization consists of interest.

Right of use assets – operating leases are summarized below:

---

| | | |
|:---|:---|:---|
|  | **December 31, <br> 2025** | **December 31, <br> 2024** |
| Office | $9471 | $8525 |
| Right of use assets, net | $9471 | $8525 |

---

Operating lease liabilities are summarized below:

---

| | | |
|:---|:---|:---|
|  | **December 31, <br> 2025** | **December 31, <br> 2024** |
| Office | $9471 | $8525 |
| Lease liability | 9471 | 8525 |
| Less: current portion | (9471) | (8525) |
| Lease liability, non-current | $— | $— |

---

Maturity analysis under these lease agreements are as follows:

---

| | |
|:---|:---|
| For the year ended December 31, 2026 | $10000 |
| Less: Present value discount | (529) |
| Lease liability | $9471 |

---

**NOTE 5: ACCRUED LIABILITIES - RELATED PARTIES**

Accrued liabilities and expenses as of December 31, 2025 and 2024 consist of the following:

---

| | | |
|:---|:---|:---|
|  | **December 31, <br> 2025** | **December 31, <br> 2024** |
| Board of Director fees | $50000 | $100000 |
| Total | $50000 | $100000 |

---

During the year ended December 31, 2025, the Company accrued fees due to the Board of Directors in the amount of $100,000 and converted accrued fees due to the Board of Directors in the amount of $150,000 into 150,000 shares of the Company's common stock. There was no gain or loss recorded on this transaction as the conversion occurred at the fair value price of $1.00 per share.

During the year ended December 31, 2024, the Company accrued fees due to the Board of Directors in the amount of $100,000.

**NOTE 6: ACCRUED PAYROLL**

Accrued payroll as of December 31, 2025 and 2024 consist of the following:

---

| | | |
|:---|:---|:---|
|  | **December 31, <br> 2025** | **December 31, <br> 2024** |
| Accrued payroll | $542460 | $463274 |
| Accrued payroll taxes | 27704 | 13707 |
| Total | $570164 | $476981 |

---

The Company disputes the amount of $67,850 which is included in accrued payroll at December 31, 2025 and 2024. This amount was recorded during the period ended December 31, 2014 as due to its then CFO. The Company does not believe it has any liability to this individual*.*

*Activity during the year ended December 31, 2025*

The Company accrued salaries in the amount of $405,000, made payments of $145,814, and converted accrued salaries due to officers in the amount of $180,000 into 180,000 shares of the Company's common stock. There was no gain or loss recorded on this transaction as the conversion occurred at the market price at the time of the conversion. The Company accrued payroll taxes in the amount of $55,384 and made payments of $41,386.

*Activity during the year ended December 31, 2024*

The Company accrued salaries in the amount of $435,000 and made payments of $263,885. The Company accrued payroll taxes in the amount of $103,598 and made payments of $91,198.

**NOTE 7: NOTES PAYABLE IN DEFAULT**

Notes payable as of December 31, 2025 and 2024 consist of the following:

---

| | | |
|:---|:---|:---|
|  | **December 31, <br> 2025** | **December 31, <br> 2024** |
| Note payable issued April 7, 2014 | $80000 | $80000 |
| Total | 80000 | 80000 |
| Less current portion | (80000) | (80000) |
| Long term portion | $— | $— |

---

On April 7, 2014, Arizona Green Power, LLC, a majority owned subsidiary of the Company, issued a note payable for $80,000 with interest at 10% per annum with a 15% default rate of interest, due at maturity of April 6, 2016. In connection with the issuance of the note, the Company granted i) a 1.33% ownership interest in Arizona Green Power, LLC and ii) a warrant to purchase 4,800 shares of the Company's common stock exercisable at $2.00 per share. This warrant expired on March 7, 2016. During each of the years ended December 31, 2025 and 2024, the Company accrued interest in the amount of $12,000 on this note. As of December 31, 2025, the amount of principal and accrued interest due on this note is $80,000 and $133,883, respectively. As of December 31, 2024, the amount of principal and accrued interest due on this note is $80,000 and $121,883, respectively. This note is in default as of the filing date. See note 15.

**NOTE 8: LOANS PAYABLE – RELATED PARTIES**

On December 28, 2022, the Company received a non-interest bearing loan in the amount of $250,000 from a related party ("2022 Loan 1"). The Company imputed interest at a rate of 12% per annum, and charged interest expense in the amount of $14,548 and $30,082 to additional paid-in capital pursuant to 2022 Loan 1 during the years ended December 31, 2025 and 2024, respectively. On June 30, 2025, the Company issued 250,000 shares of common stock at a price of $1.00 per share for the conversion of 2022 Loan 1 in the amount of $250,000. There was no gain or loss recorded on this transaction as the conversion occurred at the market price at the time of the conversion. Principal in the amount of $0 and $250,000 was due under 2022 Loan 1 at December 31, 2025 and 2024, respectively.

**NOTE 9: COMMITMENTS AND CONTINGENCIES**

*Lease Obligations*

The Company leases an office at 1213 Culbreth Drive, Suite 103, Wilmington, North Carolina 28405, on an annual lease. See Note 4. Rental expenses charged to operations for the years ended December 31, 2025 and 2024 were $11,000 and $10,550, respectively.

*Employment and Consulting Agreements*

The Company has employment agreements with certain of its key employees which include non-disclosure and confidentiality provisions for protection of the Company's proprietary information.

The Company has consulting agreements with outside contractors to provide marketing and financial advisory services. The Agreements are generally for a term of 12 months from inception and renewable automatically from year to year unless either the Company or Consultant terminates such engagement by written notice.

On December 29, 2010, pursuant to the Merger, Solar Wind Energy, Inc. became a wholly-owned subsidiary of the Company. Solar Wind has employment agreements with its executive officers. Each of the employment agreements was entered into on September 22, 2010 and amended on November 22, 2010. On March 30, 2023, the Board of Directors approved the contracts of its President and of its Chief Operating Officer through December 31, 2023. Any unpaid salaries are accrued and included in Accrued Payroll on the balance sheet. See Note 6.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name** | **Position(s)** | **Term** | **Salary** | **Bonus** | **Severance** |
| Ronald W. Pickett | Chief Executive Officer | 3 years; renewable for 1 year on mutual consent | $200000 | Board Discretionary | Twelve (12) month salary and benefits for termination without cause. |
| Stephen Sadle | Chief Operating Officer | 3 years; renewable for 1 year on mutual consent | $175000 | Board Discretionary | Twelve (12) month salary and benefits for termination without cause. |
| Robert Crabb | Secretary | 1 year | $30000 | Board Discretionary | N/A |

---

Terms to modify the one-year contract extension by mutual consent have been agreed to by the Officers and Directors. Under the modification and extension, the contracts will be extended for an additional 4 years with current salaries being unchanged. Provisions for automatic salary increases based on specific events related to business development successes, rights for the officers to convert any accrued salary into Company notes, and rights to receive warrants to purchase Company stock at market plus 20% premium at the time of the grant while notes are outstanding will be incorporated in the new contracts. The parties have mutually agreed to a stock option plan, the specific terms to be negotiated as part of the final contract.

*Litigation*

 

 In March 2026, the Company received notification of a lawsuit by the holder of a note payable by AGP, demanding payment of principal in the amount of $80,000 and accrued interest in the amount $121,883. The Company's legal counsel is currently reviewing this case. The company believes this lawsuit is without merit, and plans to vigorously defend its position. The entire amount of principal and interest appears on the Company's balance sheet, and no additional liability has been recorded.

 

From time to time, we may become involved in various lawsuits and legal proceedings, which arise, in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm our business. We are not aware of any such legal proceedings that we believe will have, individually or in the aggregate, a material adverse effect on our business, financial condition or operating results.

**NOTE 10: STOCKHOLDERS' DEFICIT**

<u>Preferred stock</u>

The Company has authorized 10,000,000 shares of preferred stock, with a par value of $0.0001 per share. As of December 31, 2025 and 2024, the Company had 0 shares of preferred stock issued and outstanding.

Series A Convertible Preferred Stock:

On June 2, 2015, the Company designated 500,000 as Series A Convertible Preferred Stock ("Series A preferred") at $0.0001 par value. Each Series A preferred share i) shall rank senior in regard to dividend rights, rights of redemption and liquidation to all classes of common stock and any class or series of capital stock of the Company hereafter creates, ii) receive dividends if and when declared by the Company's board of directors, iii) each share of Series A preferred convertible into 0.386 shares of common and iv) each share of Series A preferred stock is entitled to 8,000 votes for each share of common stock into which Series A preferred could then be converted.

*Series A Convertible Preferred Stock transactions during the year ended December 31, 2025*

None.

*Series A Convertible Preferred Stock transactions during the year ended December 31, 2024*

None.

At December 31, 2025 and 2024, there are no shares of Series A Convertible Preferred Stock outstanding.

Series AA Convertible Preferred Stock:

On December 17, 2020, the Company designated 3,000,000 shares of Series AA Convertible Preferred stock (the "Series AA Preferred"), par value $0.0001, with a stated value of $1.00 per share. Each share of the Series AA Preferred is convertible to common stock at a rate of $0.40 per share, and will have voting rights on an as-converted basis. There are no provisions for coupons or any conversion terms into any form of debt or repayment in cash and therefore these series AA convertible preferred stock is classified as equity accounts.

*Series AA Convertible Preferred Stock transactions during the year ended December 31, 2025*

None.

*Series AA Convertible Preferred Stock transactions during the year ended December 31, 2024*

None.

At December 31, 2025 and 2024, there were no shares of Series AA Convertible Preferred Stock outstanding.

Series AAA Convertible Preferred Stock:

On March 31, 2021, the Company designated 70,000 shares of Series AAA Convertible Preferred Stock (the "Series AAA Preferred"), par value $0.0001, with a stated value of $1.00 per share. Each share of the Series AAA Preferred is convertible into ten shares of common stock and will have voting rights on an as-converted basis. There are no provisions for coupons or any conversion terms into any form of debt or repayment in cash and therefore the series AAA convertible preferred stock is classified as equity.

*Series AAA Convertible Preferred Stock transactions during the year ended December 31, 2025*

None.

*Series AAA Convertible Preferred Stock transactions during the year ended December 31, 2024*

None.

At December 31, 2025 and 2024, there were 0 shares of Series AAA Convertible Preferred Stock outstanding.

Series AAAA Convertible Preferred Stock:

On September 30, 2021, the Company designated 500,000 shares of Series AAAA Convertible Preferred Stock (the "Series AAAA Preferred"), par value $0.0001, with a stated value of $1.00 per share. On May 24, 2022, the Company designated an additional 500,000 shares of Series AAA Preferred. Each share of the Series AAAA Preferred is convertible into two shares of common stock, and will have voting rights on an as-converted basis. On May 24, 2022, the Company increased the number of shares designated as Series AAAA Preferred to 1,000,000. Thereafter, the Company further increased the number of shares designated as Series AAAA Preferred bringing the total to 1,005,300. There are no provisions for coupons or any conversion terms into any form of debt or repayment in cash and therefore the series AAAA convertible preferred stock is classified as equity.

 

*Series AAAA Convertible Preferred Stock transactions during the year ended December 31, 2025*

None.

*Series AAAA Convertible Preferred Stock transactions during the year ended December 31, 2024*

None.

At December 31, 2025 and 2024, there were 0 shares of Series AAAA Convertible Preferred Stock outstanding.

<u>Common Stock</u>

The Company has authorized 250,000,000 shares of common stock, with a par value of $0.0001 per share. As of December 31, 2025 and 2024, the Company had 56,900,743 and 51,538,193 shares of common stock issued and outstanding, respectively.

*Common stock transactions during the year ended December 31, 2025*

The Company received $250,000 from the sale of 250,000 shares of common stock and warrants to purchase an additional 250,000 shares of common stock at an exercise price of $1.00 per share.

The Company issued 500,000 shares of common stock for gross proceeds of $500,000.

The Company issued 150,000 shares of common stock at a price of $1.00 per share to Directors for the conversion of accrued director's fees in the amount of $150,000. There was no gain or loss recorded on this transaction as the conversion occurred at the market price at the time of the conversion.

The Company issued 250,000 shares of common stock at a price of $1.00 per share to a related party for the conversion of a note payable in the amount of $250,000. There was no gain or loss recorded on this transaction as the conversion occurred at the market price at the time of the conversion.

The Company issued 180,000 shares of common stock at a price of $1.00 per share to Officers for the conversion of accrued salary in the amount of $180,000. There was no gain or loss recorded on this transaction as the conversion occurred at the market price at the time of the conversion.

The Company issued 250,000 shares of common stock at a price of $1.00 per share for the exercise of warrants at a price of $1.00 per share. There was no gain or loss recorded on this transaction as the conversion occurred at the exercise price established in the warrant agreement.

The Company issued 1,125,000 shares of common stock with a fair value of $1,125,000 to its President as compensation for services. The Company charged the amount of $1,125,000 to stock based compensation.

The Company issued 2,657,550 shares of common stock to a board member from common stock to be issued. The par value of these shares in the amount of $265 was transferred from common stock to be issued to common stock. There was no gain or loss on this transaction as the value of the shares had been recorded when originally charged to common stock to be issued.

*Common stock transactions during the year ended December 31, 2024*

The Company sold 600,000 shares of common stock at a price of $1.00 per share.

<u>Common Stock to be Issued</u>

 

*Common stock to be issued transactions during the year ended December 31, 2025*

The Company issued 2,657,550 shares of common stock to a board member from common stock to be issued. The par value of these shares in the amount of $265 was transferred from common stock to be issued to common stock. There was no gain or loss on this transaction as the value of the shares had been recorded when originally charged to common stock to be issued.

*Common stock to be issued transactions during the year ended December 31, 2024*

None.

<u>Warrants</u>

During the years ended December 31, 2025 and 2024, a total of $139,173 and $139,173, respectively, was charged to operations for the amortization of warrants.

*Warrant activity for the year ended December 31, 2025*

The Company issued 250,000 warrants to purchase common shares of the Company at $1.00 per share in connection with the sale of $250,000 of common stock. The warrants vested upon issuance and carry an expiration date of December 31, 2025.

Investors exercised 250,000 warrants at a price of $1.00 per share for the issuance of 250,000 shares of common stock. The Company received gross proceeds in the amount of $250,000.

1,125,000 warrants with an exercise price of $0.40 per share expired.

*Warrant Activity for the Year Ended December 31, 2024*

None.

The following table summarizes the warrants outstanding and the related prices for the warrants to purchase shares of the Company's common stock issued by the Company as of December 31, 2025:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|<br><br>**Range of**<br>**exercise**<br>**prices** |<br><br>**Number of**<br>**warrants**<br>**outstanding** |<br>**Weighted**<br>**average**<br>**remaining**<br>**contractual**<br>**life (years)** | **Weighted**<br>**average**<br>**exercise**<br>**price of**<br>**outstanding**<br>**warrants** |<br><br>**Number of**<br>**warrants**<br>**exercisable** | **Weighted**<br>**average**<br>**exercise**<br>**price of**<br>**exercisable**<br>**warrants** |
| $1.05 | 15000 | 1.50 | $1.05 | 15000 | $1.05 |
|  | 15000 | 1.50 | $1.05 | 15000 | 1.05 |

---

Transactions involving warrants are summarized as follows:

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Shares** | **Weighted<br> Average<br> Exercise<br> Price** |
| Warrants outstanding at December 31, 2024 | 1140000 | $0.41 |
| Issued | 250000 | 1.00 |
| Exercised | (250000) | 1.00 |
| Cancelled/Expired | (1125000) | 0.40 |
| Warrants outstanding at December 31, 2025 | 15000 | $1.05 |

---

<u>Incentive Stock Plan</u>

On February 18, 2021, the Company's board of directors approved an incentive stock plan (the "2021 Incentive Stock Plan") in order to provide additional incentive to employees, directors, and consultants. The 2021 Incentive Stock Plan permits the grant of Incentive Stock Options, Non-statutory Stock Options, Restricted Stock, Restricted Stock Units, Stock Appreciation Rights, Performance Units and Performance Shares. The maximum number of aggregate shares available for issuance under the 2021 Incentive Stock Plan is 4,000,000. At December 31, 2025 and 2024, no shares have been issued pursuant to the 2021 Incentive Stock Plan. However, the Company intends to issue 72,000 options to employees to purchase common stock of the Company at $1.00 per share. The Company intends for the options to vest at a rate of 1/3 at the end of each year for three years and have an expiration date of September 30, 2028, or upon the employee's termination.

**NOTE 11: NON-CONTROLLING INTEREST**

On February 17, 2025, the Company completed the sale of its majority interest in AGP to Ron Pickett, its CEO, for the amount of $1. This amount was credited against the amount due to Mr. Pickett for business expenses. The were no assets on the books of AGP. The Company de-recognized the liabilities of AGP and the balance of non-controlling interest. The loss on sale of AGP to related party was recognized in income as follows:

---

| | |
|:---|:---|
| Other Liabilities | $(35058) |
| Non-controlling interest | 351402 |
| Accounts payable | (1) |
| Loss on sale of subsidiary | $(316343) |

---

At December 31, 2025 and 2024, the Company's ownership interest in AGP was 0% and 82.77%, respectively, and minority interest was 0% and 17.23%, respectively.

A reconciliation of the non-controlling loss attributable to the Company:

There was no non-controlling interest net loss attributable to the Company for the year ended December 31, 2025.

Net loss attributable to non-controlling interest for the three months ended December 31, 2024:

---

| | |
|:---|:---|
| Net loss generated by AGP | $116595 |
| Non-controlling interest percentage | 17.23% |
| Net loss attributable to non-controlling interest | $20089 |

---

**NOTE 12: INCOME TAXES**

Deferred income taxes result from the temporary differences primarily attributable to amortization of intangible assets and debt discount and an accumulation of net operating loss carryforwards for income tax purposes with a valuation allowance against the carryforwards for book purposes.

In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. Included in deferred tax assets are Federal and State net operating loss carryforwards of approximately $19.5 million, which will expire through 2040. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Due to significant changes in the Company's ownership, the Company's future use of its existing net operating losses may be limited.

Significant components of the Company's deferred tax assets as of December 31, 2025 and 2024 are summarized below.

---

| | | |
|:---|:---|:---|
|  | **December 31,<br> 2025** | **December 31,<br> 2024** |
| Net operating loss carryforwards | $5693874 | $5303813 |
|  | 5693874 | 5303813 |
| Valuation allowance | (5693874) | (5303813) |
| Net deferred tax assets | $— | $— |

---

In assessing the potential realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the Company attaining future taxable income during the periods in which those temporary differences become deductible. As of December 31, 2025 and 2024, management was unable to determine if it is more likely than not that the Company's deferred tax assets will be realized and has therefore recorded an appropriate valuation allowance against deferred tax assets at such dates.

No U.S. federal tax provision has been provided for the Company for the years ended December 31, 2025 and 2024 due to the losses incurred during the periods.

The reconciliation below presents the difference between the income tax rate computed by applying the U.S. federal statutory rate and the effective tax rate for the years ended December 31, 2025 and 2024.

---

| | | |
|:---|:---|:---|
|  | **December 31,<br> 2025** | **December 31,<br> 2024** |
| U. S. federal statutory tax rate | (21.0)% | (21.0)% |
| State statutory tax rate | (8.25)% | (8.25)% |
| Change in valuation allowance | 29.25% | 29.25% |
| Effective tax rate | 0.0% | 0.0% |

---

At December 31, 2025 and 2024, the Company has available net operating loss carryforwards for U.S. federal corporate income tax purposes of approximately $5,693,874 and $5,303,813, respectively. U.S. federal net operating losses, if not utilized earlier, expire through 2041.

**NOTE 13: RELATED PARTY TRANSACTIONS**

*For the year months ended December 31, 2025*

On February 17, 2025, the Company completed the sale of its majority interest in AGP to Ron Pickett, its CEO, for the amount of $1. This amount was credited against the amount due to Mr. Pickett for business expenses. The were no assets on the books of AGP. The Company de-recognized the liabilities of AGP and the balance of non-controlling interest. The loss on sale of AGP to related party was recognized in income (loss) from discontinued operations.

The Company accrued salaries in the amount of $405,000, made payments of $145,814, and converted accrued salaries due to officers in the amount of $180,000 into 180,000 shares of the Company's common stock. There was no gain or loss recorded on this transaction as the conversion occurred at the market price at the time of the conversion. The Company accrued payroll taxes in the amount of $55,384 and made payments of $41,386. At December 31, 2025, the amount of $474,610 of accrued salaries due to officers is included in the Company's balance sheet as Accrued Payroll. See note 6.

On June 30, 2025, the Company issued 180,000 shares of common stock at a price of $1.00 per share to Officers for the conversion of accrued salary in the amount of $180,000. There was no gain or loss recorded on this transaction as the conversion occurred at the market price at the time of the conversion.

On June 30, 2025, the Company issued 150,000 shares of common stock at a price of $1.00 per share to Directors for the conversion of accrued director's fees in the amount of $150,000. There was no gain or loss recorded on this transaction as the conversion occurred at the market price at the time of the conversion.

On June 30, 2025, the Company issued 250,000 shares of common stock at a price of $1.00 per share to a related party for the conversion of a note payable in the amount of $250,000. There was no gain or loss recorded on this transaction as the conversion occurred at the market price at the time of the conversion.

On September 30, 2025, the Company issued 2,657,550 shares of common stock to a board member from common stock to be issued. The par value of these shares in the amount of $265 was transferred from common stock to be issued to common stock. There was no gain or loss on this transaction as the value of the shares had been recorded when originally charged to common stock to be issued.

On December 29, 2025, the Company issued 1,125,000 shares of common stock with a fair value of $1,125,000 to its President as compensation for services. The amount of $1,125,000 was charged to stock based compensation. See Note 10.

During the year ended December 31, 2025, the Company accrued fees due to the Board of Directors in the amount of $100,000.

*For the year ended December 31, 2024*

The Company accrued salaries due to officers in the amount of $435,000 and made payments of accrued salaries due to officers in the amount of $263,885. At December 31, 2024, the amount of $395,423 of accrued salaries due to officers is included in the Company's balance sheet as Accrued Payroll. See note 7.

The Company accrued fees due to the Board of Directors in the amount of $100,000.

*Common stock to be issued*

The Company had committed to issue 710,220 shares at a price of $0.50 per share for the cashless conversion of 1,775,550 warrants. There was no gain or loss recorded on this transaction as the conversion occurred pursuant to the terms of the warrants.

The Company had committed to issue 700,000 shares of common stock at a price of $0.10 per share for the conversion of Series AAA Preferred Stock. There was no gain or loss recorded on this transaction as the conversion occurred pursuant to the terms of the Series AAA Preferred.

The Company had committed to issue 1,183,700 shares of common stock at a price of $0.50 per share for the conversion of 591,850 shares of Series AAAA Preferred Stock. There was no gain or loss recorded on this transaction as the conversion occurred pursuant to the terms of the Series AAAA Preferred.

The Company had committed to issue 63,630 shares of common stock at a price of $1.00 per share to a related party as compensation. There was no gain or loss recorded on this transaction as the transaction was recorded at the market price of the common stock.

The Company issued 2,657,550 shares of common stock to a board member from common stock to be issued. The par value of these shares in the amount of $265 was transferred from common stock to be issued to common stock. There was no gain or loss on this transaction as the value of the shares had been recorded when originally charged to common stock to be issued.

**NOTE 14: SEGMENT INFORMATION**

The Company operates in one reportable segment: the generation of green energy. The Company intends to leverage intellectual property and engage innovative clean energy technology to provide a reliable source of green electricity. The Company has not generated any revenues from operations. The accounting policies of the segment are the same as those described in the summary of significant accounting policies. The chief operating decision maker ("CODM") includes the chief executive officer and chief operating officer. The CODM decides how to allocate resources based on the components of net loss from continuing operations and significant expenses. The CODM evaluates expenses to ensure resources are appropriately allocated to foster progress. The segment net loss from continuing operations and significant segment expenses are presented in the table below. Segment assets are reported on the balance sheet as total assets, including assets of discontinued operations.

---

| | | |
|:---|:---|:---|
|  | **Year Ended** | **Year Ended** |
|  | **December 31,** | **December 31,** |
|  | **2025** | **2024** |
| Operating Expenses: |  |  |
| Advertising and promotion | $500 | $- |
| Bank service charges | 941 | 1189 |
| Office supplies | 17119 | 5265 |
| Payroll and related costs | 433796 | 469048 |
| Director compensation | 100000 | 100000 |
| Rent expense | 14000 | 3000 |
| Insurance | 46158 | 19013 |
| Filing fees | 9170 |  |
| Travel expense | 36044 | 6226 |
| Professional fees | 389546 | 226897 |
| Consulting expense | 51399 | 234000 |
| Taxes and licenses | 1627 | 1543 |
| Stock based compensation | 1264174 | 139173 |
| Other expenses | 460 | - |
|  | 2364934 | 1205354 |
| Other (income) expenses: |  |  |
| (Gain) on settlement of accounts payable | (4000) |  |
| Interest expense | 26548 | 42082 |
|  | 22548 | 42082 |
| Segment loss | $(2387482) | $(1247436) |
| Adjustments and reconciling items |  |  |
| Net loss from continuing operations | $(2387482) | $(1247436) |

---

---

| | | |
|:---|:---|:---|
|  | **December 31,<br> 2025** | **December 31, <br> 2024** |
| Other segment disclosures: |  |  |
| Segment assets | $337937 | $47659 |

---

**NOTE 15: SUBSEQUENT EVENTS**

<u>Non-Binding Letter of Intent</u>

The Company has entered into a non-binding letter of intent (the "LOI") subject to a definitive agreement with Mil L. Wallen, CEO and owner of 100% of the shares of Trinity Group Construction, Inc. ("Trinity"). Mr. Wallen is President of KiNRG and a related party. Pursuant to the LOI, KiNRG would acquire 100% of the stock of Trinity. The parties intend to combine Trinity's expertise in constructing data centers with KiNRG's HydroThermal Reactor power generation technology to market a data center solution. Specific terms of the LOI have not been finalized.

Notification of Lawsuit by Noteholder

In March 2026, the Company received notification of a lawsuit by the holder of a note payable by AGP, demanding payment of principal in the amount of $80,000 and accrued interest in the amount $121,883. The Company's legal counsel is currently reviewing this case. The company believes this lawsuit is without merit, and plans to vigorously defend its position. The entire amount of principal and interest appears on the Company's balance sheet, and no additional liability has been recorded. See note 7.

***Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure.***

There are not and have not been any disagreements between the Company and its independent accountants on any matter of accounting principles, practices or financial statement disclosure.

***Item 9A. Controls and Procedures.***

 ****

*Conclusion Regarding the Effectiveness of Disclosure Controls and Procedures* 

Our disclosure controls and procedures are designed to ensure that information required to be disclosed in reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the SEC. We, including our Chief Executive Officer and Chief Financial Officer, have evaluated the effectiveness of our disclosure controls and procedures (as defined in the Exchange Act Rules 13(a)-15(e) and 15(d)-15(e)) as of December 31, 2025 and have concluded that our disclosure controls and procedures are not effective to ensure that material information relating to the Company is recorded, processed, summarized, and reported in a timely manner.

 

*Management's Annual Report on Internal Control over Financial Reporting*

 

Our management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rule 13a-15(f) and 15d-(f) under the Exchange Act. Our internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of consolidated financial statements for external purposes in accordance with U.S. GAAP.

Management does not expect that its internal controls over financial reporting will prevent all errors and all fraud. In evaluating the disclosure controls and procedures, management recognized that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives, and management necessarily was required to apply its judgment in evaluating the cost-benefit relationship of such possible controls and procedures.

 

*Changes in Internal Control Over Financial Reporting*

 

There were no changes in our internal control over financial reporting during the quarter ended December 31, 2025, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting, other than the remediation measures described above.

 **

***Item 9B. Other Information.***

 **

None.

***Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections.***

Not applicable.

**PART III**

 

***Item 10. Directors, Executive Officers and Corporate Governance.***

The following table sets forth the names of the company's directors, executive officers, and key employees, and their positions with the company, as of the date hereof:

---

| | | | |
|:---|:---|:---|:---|
| Name | Age | Position(s) | Terms of Office (directors) |
| Ronald W. Pickett | 78 | Chief Executive Officer, Chairman |  |
| Flip Wallen | 64 | President |  |
| Stephen Sadle | 80 | Chief Operating Officer and Director |  |
| Robert P. Crabb | 78 | Secretary |  |
| H. James Magnuson | 73 | Director |  |
| Mossadaq Chughtai | 67 | Director |  |
| Troy A. Hering CPA | 61 | Director |  |
| Livian L. Jones | 60 | Director |  |

---

The following is a brief account of the business experience during the past five years (and, in some instances, for prior years) of each director and executive officer.

**Ronald W. Pickett, Chief Executive Officer & Chairman**

Ron Pickett founded the Company in July 2010. He has remained Chairman and CEO since January 2011. Prior to this experience, Ron Pickett served as Youth Advisor to President Johnson until January 1969. After leaving the Johnson Administration in 1969 he consulted for the Frouge Corporation and its partner Gulf Oil, obtaining a Title 10 loan agreement for a large real estate development in San Francisco Bay area. He then consulted Madison Square Garden Corporation liquidating assets from its real estate portfolio after its acquisition of control by Phil Levin. After the passing of Levin, Pickett and a group of the Levin "team" formed a new development group led by Pickett developing multiple projects in Maryland, Florida and NYC. After selling that operation (late 1975) Pickett developed over 200 units in Old Town Alexandria, Virginia. Pickett held a real estate brokers license for 30 years as well as an Unlimited Contractors License. In 1980 he founded Medical Advisory Systems, the first company to commercialize and institute an international program for telemedicine for vessels at sea, also F&E Resource Systems (FERS) the largest composting/recycling facility in the USA, processing over 2,000 tons per day and reclaiming 92% of the waste stream while creating and innovating the entire system, and Telkonet (TKO) the first company to commercialize broadband over powerlines, creating the ability to encrypt and send data over the existing electrical infrastructure of commercial and industrial buildings, as well as military vessels.

**Flip Wallen, President**

Mil "Flip" Wallen, III, a 43-year veteran of the Commercial Real Estate Industry, specializes in Mission Critical construction, design, and development. He is a graduate of James Madison University with a BBA in Management Information Systems. Flip's proclivity for the latest technology trends helps keep his internal processes fresh, innovative, and competitive with industry standards. Flip has become one of the most trusted sources of knowledge, wisdom, and leadership in the Data Center market, particularly in Northern Virginia's "Data Center Alley" located in Ashburn, VA – where he has developed and built over 2 million square feet in this market alone. He is the founder and owner of TRINITY Group Construction, established in 2002, an award-winning construction company and one of the leading commercial construction firms in the DC Metro Area, specializing in the data center market. Flip will advise the company on integrating an Eco-Energy Park and GH2 plant with their Arizona Tower Project. He has agreed to join the company during the fourth quarter of 2020 as Executive Vice President of Construction & Development. Flip was elected President of KiNRG in late 2023.

**Stephen Sadle, Chief Operating Officer & Director**

Mr. Sadle, co-founder of the Company, is an entrepreneur with over 40 years of diversified experience in management, contracting, and heavy infrastructure development, interfacing with both the government and private sectors and has served the Company full time as Chief Operating Officer since 2011. He was the co-founder and President of PAVCO, The Pavement Consultants Group, that consulted, designed and managed infrastructure projects for a variety of Fortune companies, as well as National Striping Company, a Washington DC regional multifaceted remediation and construction company and was awarded the Small Businessman of the Year Award for the Washington Metropolitan Area. He is experienced in the development and management of new corporate entities. He was co-founder, Chief Operating Officer and Director of Telkonet, a Company that commercialized broadband communications over powerlines for hospitality, government and commercial use and are developers, manufacturers and vendors of energy efficiency and smart grid networking technology. Mr. Sadle served as Vice President of Business Development for a large regional heavy highway/construction company with revenues in excess of $220MM and created an innovative environmental remediation division that handled the cleanup of multiple environmentally impaired sites, federal, municipal and industrial.

**Robert P. Crabb, Secretary**

Mr. Crabb has over 40 years of public and private sector experience including 15years in the insurance industry including, sales and sales management with MetLife and independent property and casualty brokerage. His entrepreneurial expertise includes marketing consulting, corporate management and commercial/residential real estate development. He has served in a corporate governance capacity as secretary to a number of start-up companies. Since September, 2007, Mr. Crabb has been an independent real estate development consultant. Until September, 2007, Mr. Crabb was Secretary of Telkonet, until February, 2009, Mr. Crabb was Secretary of Microwave Systems, and until October, 2009, Mr. Crabb was Secretary of Geeks on Call.

**H. James Magnuson, Director**

Mr. Magnuson has served as a member of the Company's Board of Directors since 2007. Mr. Magnuson resigned as the Company's Vice President effective December 29, 2010 pursuant to the terms of the Merger Agreement. Since 1979, Mr. Magnuson has been an attorney engaged in the private practice of law in Coeur d'Alene, Idaho, and received his BS degree from the University of Idaho and his Juris Doctorate from Boston College.

**Mossadaq Chughtai, Director**

Mossadaq Chughtai is an accomplished business executive, CEO and owner of Zima Inc., which owns various commercial real estate projects throughout Washington DC, Maryland, Virginia and Pennsylvania. The Development arm of his company has been involved in development of a 2.4 million sq. ft. data center that will be one of the top five largest data centers in the world. As a member of United States Chamber of commerce in Washington DC, he has visited Pakistan as a member of a US business delegation. Mr. Chughtai has also served on the board of Islamic Saudi Academy, in 2009 and 2010, a prestigious private school owned by Government of Saudi Arabia based in Washington DC. Besides serving on the boards of several organizations including Pakistan American Business Council, Jinnah Foundation for Peace and Public Policy, Healing & Caring Foundation, he is also president of AMAA Muslim Cemetery in Stafford, VA, first ever and the largest Muslim Cemetery in USA which operates as a non-profit entity. Mr. Chughtai has made several appearances in international media including ABC, FOX News, CNN International, Press TV, Al Jazeera, GEO and AAJ TV. His interviews have been published in Washington Post, Business Recorder, Jang, Dawn, Nation, The World News, Pakistan Today as well as in various other publications. He has an executive degree in the field of AI (artificial intelligence) from MIT and has attended Murray College in Sialkot, Pakistan. Mr. Chughtai's extensive career in global international business makes him uniquely qualified to serve as a director.

**Troy A. Hering, CPA, Director**

Troy Hering is an assertive senior financial and accounting executive in the professional services and high technology industries, with over 30 years of progressive experience in accounting, financial management and analysis, strategic planning, due diligence, mergers & acquisitions, budgeting, contract administration, team building and personnel management. He is committed to achieving strategic corporate goals and objectives through proactive team leadership and dedicated to serving clients and maximizing profitability by providing accurate, timely and effective financial expertise to the executive management team and operational team leaders. Mr. Hering is Certified Public Accountant, CPA, Licensed in the state of Virginia. He attended the Graduate Accounting Certificate Program at the University of Virginia and received a Bachelor of Science, Finance and Management, McIntire School of Commerce, University of Virginia. Mr. Hering is a Member of the Virginia Society of Certified Public Accountants and Northern Virginia Society of Certified Public Accountants. Mr. Hering's training an extensive experience in these fields gives him the qualifications and skills to serve as a director.

**Livian L. Jones, Director**

Ms. Jones is a strong leader with over 25 years' experience in construction and development with proven project management, operations, business development, and marketing skills. A collaborator and consensus builder with an extensive network throughout North and South Carolina. Ms. Jones has knowledge and oversight of managing commercial, retail, and residential development and construction. Ms. Jones holds a Bachelor of Science, Criminal Justice BSCJ, from Appalachian State University and a Master of Business Administration from the University of North Carolina, Wilmington. She is a North Carolina Licensed General Contractor and has completed DBE/ACDBE Training by The National DBE Training Institute. Ms. Jones serves on many boards including South State Bank Regional Board -Wilmington, NC (2015-Present), First Tee Board (2016- Present), Appalachian Foundation Board (2007- 2020). Ms. Jones' experience in these fields and on these boards gives her the qualifications and skill to serve as a director.

**Family Relationships**

There are no family relationships among any of our executive officers and directors

**Corporate Governance**

**Board of Directors and Board Committees**

Our board of directors currently consists of six directors. Our amended and restated certificate of incorporation will provide that the number of directors on our board of directors shall be fixed exclusively by resolution adopted by our board of directors. We may apply to list our common stock on the NASDAQ Capital Market provided however there is no guarantee that we will be successful in these efforts. Under the rules of NASDAQ, "independent" directors must make up a majority of a listed company's board of directors. In addition, applicable NASDAQ rules require that, subject to specified exceptions, each member of a listed company's audit and compensation committees be independent within the meaning of the applicable NASDAQ rules. Audit committee members must also satisfy the independence criteria set forth in Rule 10A-3 under the Exchange Act.

When considering whether directors have the experience, qualifications, attributes or skills, taken as a whole, to enable our board of directors to satisfy its oversight responsibilities effectively in light of our business and structure, the board of directors focuses primarily on each person's background and experience as reflected in the information discussed in each of the directors' individual biographies set forth above. We believe that our directors provide an appropriate mix of experience and skills relevant to the size and nature of our business.

**Committees of Our Board of Directors**

Our board of directors directs the management of our business and affairs, as provided by Nevada law, and conducts its business through meetings of the board of directors and its standing committees. We will have a standing audit committee, nominating and corporate governance committee and compensation committee. In addition, from time to time, special committees may be established under the direction of the board of directors when necessary to address specific issues.

***Audit Committee***

Our audit committee will be responsible for, among other things:

● approve and retain the independent auditors to conduct the annual audit of our financial statements;

● review the proposed scope and results of the audit;

● review and pre-approve audit and non-audit fees and services;

● review accounting and financial controls with the independent auditors and our financial and accounting staff;

● review and approve transactions between us and our directors, officers and affiliates;

● establish procedures for complaints received by us regarding accounting matters;

● oversee internal audit functions, if any; and

● prepare the report of the audit committee that the rules of the Securities and Exchange Commission require to be included in our annual meeting proxy statement.

As of this filing, our audit committee consists of Troy Hering, James Magnuson and Mossadaq Chughtai, with Mr. Hering serving as chair. Rule 10A-3 of the Exchange Act and the Nasdaq rules require that our audit committee have at least one independent member upon the listing of our common stock, have a majority of independent members within 90 days of the date of Annual Report on Form 10-K and be composed entirely of independent members within one year of the date of this Annual Report on Form 10-K. Our board of directors has affirmatively determined that Mr. Hering meets the definition of "independent director" under the Nasdaq rules, that Mr. Hering meets the independence standards under Rule 10A-3. Each member of our audit committee meets the financial literacy requirements of the Nasdaq rules. In addition, our board of directors has determined that Mr. Hering will qualify as an "audit committee financial expert," as such term is defined in Item 407(d)(5) of Regulation S-K. Our board of directors will adopt a written charter for the audit committee, which is available on our principal corporate website at www.kinrg.com. The information on any of our websites is deemed not to be incorporated into this Annual Report on Form 10-K or to be part of this Annual Report on Form 10-K.

***Nominating and Governance Committee***

Our nominating and governance committee is responsible for, among other things:

● identify and nominate members of the board of directors;

● develop and recommend to the board of directors a set of corporate governance principles applicable to our company; and

● oversee the evaluation of our board of directors.

As of this filing, our nominating and corporate governance committee will consist of H. James Magnuson, and Troy A. Hering, Livian L Jones and H. James Magnuson with H. James Magnuson serving as chair. Our board of directors will adopt a written charter for the nominating and corporate governance committee, which is available on our principal corporate website at www.kinrg.com. The information on any of our websites is deemed not to be incorporated in this Annual Report on Form 10-K.

**Delinquent Section 16(a) Reports**

Section 16(a) of the Exchange Act requires the Company's directors and executive officers, and persons who beneficially own more than 10% of the outstanding shares of the Company's common stock, to file reports of ownership and changes in ownership of shares of common stock with the SEC. Directors, executive officers and greater than 10% beneficial owners are required by SEC regulations to furnish the Company with copies of all Section 16(a) reports they file. Based on its review of the copies of such reports received by it, or written representations from certain reporting persons, the Company believes that during fiscal year 2025, its officers and directors filed the required reports under Section 16(a) on a timely basis, except that the Form 3 filings for Mr. Pickett, Mr. Wallen, Mr. Sadle, Mr. Crabb, Mr. Jones, Mr. Magnuson, Mr. Chughtai, and Mr. Hering were filed late due to an administrative error.

***Item 11. Executive Compensation.***

The following table and related footnotes show the compensation incurred and or paid during the fiscal years ended December 31, 2025 and 2024, to all individuals serving as the Company's principal executive officer or acting in a similar capacity during the last completed fiscal year. No other executive officers received compensation in excess of $100,000 for such fiscal years.

**Summary Compensation Table**

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Name and principal position** | **Year** | **Salary<br> ($)** | **Bonus<br> ($)** | **Stock<br> awards<br> ($)** | **Non-equity<br> incentive<br> plan<br> compensation** | **Nonqualified<br> deferred<br> compensation<br> earnings<br> ($)** | **All other<br> Compensation<br> ($)** | **Total<br> ($)** |
| Ronald W. Pickett, | 2025 | 200000<sup>(2)</sup> | $– $|  | $– $|  | $– | 200000 |
| Chief Executive Officer, Chairman and Principal Accounting officer <sup>(1)</sup> | 2024 | 200000<sup>(2)</sup> | – |  | – |  | – | 200000 |
| Stephen L. Sadle | 2025 | 175000<sup>(4)</sup> | – |  | – |  | – | 175000 |
| Chief Operating Officer <sup>(3)</sup> | 2024 | 175000<sup>(4)</sup> | – |  | – |  | – | 175000 |

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(1) Appointed as Chief Executive Officer and Chairman effective December 29, 2010 pursuant to the terms of the Merger Agreement.

(2) Amounts include $151,686 and $127,308 of accrued salary due to Mr. Pickett as of December 31, 2025 and 2024, respectively.

(3) Appointed as Chief Operating Officer effective December 29, 2010 pursuant to the terms of the Merger Agreement.

(4) Amounts include $234,824 and $195,615 of accrued salary due to Mr. Sadle as of December 31, 2025 and 2024, respectively.

**Compensation Committee Interlocks and Insider Participation**

Except for Mr. Pickett and Mr. Sadle, none of our executive officers serves as a member of the board of directors or compensation committee (or other committee performing equivalent functions) of any entity that has one or more executive officers serving on our board of directors or compensation committee.

**Compensation Committee**

Our compensation committee is responsible for, among other things:

● review and recommend the compensation arrangements for management, including the compensation for our president and chief executive officer;

● establish and review general compensation policies with the objective to attract and retain superior talent, to reward individual performance and to achieve our financial goals;

● administer our stock incentive plans; and

● prepare the report of the compensation committee that the rules of the Securities and Exchange Commission require to be included in our annual meeting proxy statement.

As of this filing, our compensation committee consists of Mr. Magnuson, Mr. Hering and Ms. Jones with Mr. Magnuson serving as chair. Our board has determined that each member of the compensation committee are "non-employee directors" as defined in Section 16b-3 of the Exchange Act. Our board of directors will adopt a written charter for the compensation committee, which is available on our principal corporate website at www.kinrg.com.. The information on any of our websites is deemed not to be incorporated in Annual Report on Form 10-K or to be part of this Annual Report on Form 10-K.

**Employment Contracts and Termination of Employment and Change-In-Control Arrangements**

On December 29, 2010, pursuant to the Merger, Solar Wind Energy (f/k/a Clean Wind Energy) became a wholly-owned subsidiary of the Company. Solar Wind Energy (f/k/a Clean Wind Energy) has employment agreements with Ronald Pickett and Stephen Sadle its executive officers. Each of the employment agreements was effective January 1, 2014.

The Indemnification Agreements provide that the Company will indemnify the Company's officers and directors, to the fullest extent permitted by law, relating to, resulting from or arising out of any threatened, pending or completed action, suit or proceeding, or any inquiry or investigation by reason of the fact that such officer or director (i) is or was a director, officer, employee or agent of the Company or (ii) is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful.

In addition, the Indemnification Agreements provide that the Company will make an advance payment of expenses to any officer or director who has entered into an Indemnification Agreement, in order to cover a claim relating to any fact or occurrence arising from or relating to events or occurrences specified in this paragraph, subject to receipt of an undertaking by or on behalf of such officer or director to repay such amount if it shall ultimately be determined that he is not entitled to be indemnified by the Company as authorized under this Agreement.

**Director Compensation Table**

The following table and related footnotes show the compensation incurred and or paid during the fiscal year ended December 31, 2025 to the Company's directors for their service as directors.

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Name** | **Fees<br> earned<br> or paid<br> in cash<br> ($)** | **Stock<br> awards<br> ($)** | **Option<br> awards<br> ($)** | **Non-equity<br> incentive<br> plan<br> compensation<br> ($)** | **Nonqualified deferred<br> compensation<br> earnings<br> ($)** | **All other<br> compensation<br> ($)** | **Total<br> ($)** |
| H. James Magnuson | $25000 |  |  |  |  |  | $25000 |
| Mossadaq Chughtai | $25000 |  |  |  |  |  | $25000 |
| Troy A. Hering CPA | $25000 |  |  |  |  |  | $25000 |
| Livian L Jones | $25000 |  |  |  |  |  | $25000 |

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**Narrative to Summary Compensation Table and Director Compensation Table**

During the year ended December 31, 2025, the Company provided no stock options, warrants, or stock appreciation rights. On December 29, 2010, pursuant to the Merger, KiNRG Global Solutions, Inc. (f/k/a Solar Wind Energy, Inc.) became a wholly-owned subsidiary of the Company. The Company has employment agreements with its officers as described below. The Company has accrued salaries for all its executives from inception through December 31, 2025 and the balance amounted to $386,510 at December 31, 2025.

No officer or director has outstanding unexercised options, stock that has not vested, or equity incentive plan awards. The Company maintains no employee benefits plans.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Name | Position(s) | Term | Salary | Bonus | Severance |
| Ronald W. Pickett | Chief Executive Officer | 1 year; renewable for 1 year on mutual consent \* | $200000 | Board Discretionary | Twelve (12) months' salary and benefits for termination without cause. |
| Stephen Sadle | Chief Operating Officer | 1 year; renewable for 1 year on mutual consent \* | $175000 | Board Discretionary | Twelve (12) months' salary and benefits for termination without cause. |
| Robert P. Crabb | Secretary |  | $30000 |  | . |

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\* Terms to modify the 1 year contract extension by mutual consent have been agreed to by the Officers and Directors. Provisions for automatic salary increases based on specific events related to business development successes, rights for the officers to convert any accrued salary into Company notes, and rights to receive warrants to purchase Company stock at market plus 20% premium at the time of the grant while notes are outstanding will be incorporated in the new contracts. The parties have mutually agreed to a stock option plan, the specific terms to be negotiated as part of the final contract.

**Equity Compensation Plan Information**

The Company did not have an equity compensation plan outstanding as of December 31, 2025.

<u>2021 Incentive Stock Plan</u>

In February 2021, the Company adopted its 2021 Incentive Stock Plan. No stock option have been granted from the Plan.

**General**

The 2021 Incentive Plan was adopted by the Board of Directors. The Board of Directors has reserved 4,000,000 shares of Common Stock for issuance under the 2021 Incentive Plan. Under the Plan, options may be granted which are intended to qualify as Incentive Stock Options ("ISOs") under Section 422 of the Internal Revenue Code of 1986 (the "Code") or which are not ("Non-ISOs") intended to qualify as Incentive Stock Options thereunder. Other types of equity awards may also be granted under the Plan including but not limited to restricted stock, restricted stock units, and stock appreciation rights, which together with the ISO's and Non-ISO's are hereinafter collectively referred to as "Awards".

The 2021 Incentive Plan is not a qualified deferred compensation plan under Section 401(a) of the Internal Revenue Code and is not subject to the provisions of the Employee Retirement Income Security Act of 1974 ("ERISA").

**Purpose**

The primary purpose of the 2021 Incentive Plan is to attract and retain the best available personnel for the Company in order to promote the success of the Company's business and to facilitate the ownership of the Company's stock by employees. In the event that the 2021 Incentive Plan is not adopted the Company, the Company may have considerable difficulty in attracting and retaining qualified personnel, officers, directors and consultants. As present, our board of directors has no immediate plans, arrangements or understandings to issue awards under the 2021 Incentive Plan.

**Administration**

The 2021 Incentive Plan is administered by the Board or by a committee of the Board that may be designated by the Board to administer the Plan, composed of not less than two members of the Board all of whom are disinterested persons, as contemplated by Rule 16b-3 promulgated under the Securities Exchange Act of 1934, as amended (the "**Exchange Act**"). All questions of interpretation of the 2021 Incentive Plan are determined by the Board or such Committee, and its decisions are final and binding upon all participants.

**Eligibility**

Under the 2021 Incentive Plan, equity grants may be granted to employees, officers, directors or consultants of the Company, as provided in the 2021 Incentive Plan.

**Terms of Awards**

The terms of Awards granted under the Plan shall be contained in an agreement between the participant and the Company and such terms shall be determined by the Board of Directors consistent with the provisions of the Plan. The terms of Awards may or not require a performance condition in order to vest the equity comprised in the relevant Award. The terms of each Option granted under the Plan shall be contained in a stock option agreement between the Optionee and the Company and such terms shall be determined by the Board of Directors consistent with the provisions of the Plan, including the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) PURCHASE PRICE. The purchase price of the Common Shares subject to each ISO shall not be less than the fair market value (as set forth in the 2021 Incentive Plan), or in the case of the grant of an ISO to a Principal Stockholder, not less that 110% of fair market value of such Common Shares at the time such Option is granted. The purchase price of the Common Shares subject to each Non-ISO shall be determined at the time such Option is granted, but in no case less than 100% of the fair market value of such Common Shares at the time such Option is granted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) VESTING. The dates on which each Option (or portion thereof) shall be exercisable and the conditions precedent to such exercise, if any, shall be fixed by the Committee, in its discretion, at the time such Option is granted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) EXPIRATION. The expiration of each Option shall be fixed by the Committee, in its discretion, at the time such Option is granted; however, unless otherwise determined by the Committee at the time such Option is granted, an Option shall be exercisable for ten (10) years after the date on which it was granted (the "Grant Date"). Each Option shall be subject to earlier termination as expressly provided in the 2021 Incentive Plan or as determined by the Committee, in its discretion, at the time such Option is granted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) TRANSFERABILITY. No Option shall be transferable, except by will or the laws of descent and distribution, and any Option may be exercised during the lifetime of the Optionee only by him. No Option granted under the Plan shall be subject to execution, attachment or other process.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) OPTION ADJUSTMENTS. The aggregate number and class of shares as to which Options may be granted under the Plan, the number and class shares covered by each outstanding Option and the exercise price per share thereof (but not the total price), and all such Options, shall each be proportionately adjusted for any increase decrease in the number of issued Common Shares resulting from split-up spin-off or consolidation of shares or any like Capital adjustment or the payment of any stock dividend.

Except as otherwise provided in the 2021 Incentive Plan, any Option granted hereunder shall terminate in the event of a merger, consolidation, acquisition of property or stock, separation, reorganization or liquidation of the Company. However, the Optionee shall have the right immediately prior to any such transaction to exercise his Option in whole or in part notwithstanding any otherwise applicable vesting requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) TERMINATION, MODIFICATION AND AMENDMENT. The 2021 Incentive Plan (but not Awards previously granted under the Plan) shall terminate ten (10) years from the earlier of the date of its adoption by the Board of Directors or the date on which the Plan is approved by the affirmative vote of the holders of a majority of the outstanding shares of capital stock of the Company entitled to vote thereon, and no Award shall be granted after termination of the Plan. Subject to certain restrictions, the Plan may at any time be terminated and from time to time be modified or amended by the affirmative vote of the holders of a majority of the outstanding shares of the capital stock of the Company present, or represented, and entitled to vote at a meeting duly held in accordance with the applicable laws of the State of Delaware.

The primary purpose of the 2021 Incentive Plan is to attract and retain the best available personnel for the Company in order to promote the success of the Company's business and to facilitate the ownership of the Company's stock by employees. In the event that the 2021 Incentive Plan is not adopted the Company, the Company may have considerable difficulty in attracting and retaining qualified personnel, officers, directors and consultants. As present, our board of directors has no immediate plans, arrangements or understandings to issue awards under the 2021 Incentive Plan.

**FEDERAL INCOME TAX ASPECTS OF THE 2021 INCENTIVE PLAN**

THE FOLLOWING IS A BRIEF SUMMARY OF THE EFFECT OF FEDERAL INCOME TAXATION UPON THE PARTICIPANTS AND THE COMPANY WITH RESPECT TO THE PURCHASE OF SHARES UNDER THE 2021 INCENTIVE PLAN. THIS SUMMARY DOES NOT PURPORT TO BE COMPLETE AND DOES NOT ADDRESS THE FEDERAL INCOME TAX CONSEQUENCES TO TAXPAYERS WITH SPECIAL TAX STATUS. IN ADDITION, THIS SUMMARY DOES NOT DISCUSS THE PROVISIONS OF THE INCOME TAX LAWS OF ANY MUNICIPALITY, STATE OR FOREIGN COUNTRY IN WHICH THE PARTICIPANT MAY RESIDE, AND DOES NOT DISCUSS ESTATE, GIFT OR OTHER TAX CONSEQUENCES OTHER THAN INCOME TAX CONSEQUENCES. THE COMPANY ADVISES EACH PARTICIPANT TO CONSULT HIS OR HER OWN TAX ADVISOR REGARDING THE TAX CONSEQUENCES OF PARTICIPATION IN THE 2021 Incentive Plan AND FOR REFERENCE TO APPLICABLE PROVISIONS OF THE CODE.

**Incentive Stock Options (ISO)**

The recipient of an incentive stock option generally will not be taxed upon grant of the option. Federal income taxes are generally imposed only when the shares of common stock from exercised incentive stock options are disposed of, by sale or otherwise. The amount by which the fair market value of the common stock on the date of exercise exceeds the exercise price is, however, included in determining the option recipient's liability for the alternative minimum tax. If the incentive stock option recipient does not sell or dispose of the shares of common stock until more than one year after the receipt of the shares and two years after the option was granted, then, upon sale or disposition of the shares, the difference between the exercise price and the market value of the shares of common stock as of the date of exercise will be treated as a capital gain, and not ordinary income. If a recipient fails to hold the shares for the minimum required time the recipient will recognize ordinary income in the year of disposition generally in an amount equal to any excess of the market value of the common stock on the date of exercise (or, if less, the amount realized or disposition of the shares) over the exercise price paid for the shares. Any further gain (or loss) realized by the recipient generally will be taxed as short-term or long-term gain (or loss) depending on the holding period. We will generally be entitled to a tax deduction at the same time and in the same amount as ordinary income is recognized by the option recipient, if any.

**Nonstatutory Stock Options (Non-ISO)**

The recipient of stock options not qualifying as incentive stock options generally will not be taxed upon the grant of the option. Federal income taxes are generally due from a recipient of nonstatutory stock options when the stock options are exercised. The excess of the fair market value of the common stock purchased on such date over the exercise price of the option is taxed as ordinary income. Thereafter, the tax basis for the acquired shares is equal to the amount paid for the shares plus the amount of ordinary income recognized by the recipient. We will generally be entitled to a tax deduction at the same time and in the same amount as ordinary income is recognized by the option recipient by reason of the exercise of the option.

**Other Awards**

Recipients who receive restricted stock unit awards will generally recognize ordinary income when they receive shares upon settlement of the awards, in an amount equal to the fair market value of the shares at that time. Recipients who receive awards of restricted shares subject to a vesting requirement will generally recognize ordinary income at the time vesting occurs, in an amount equal to the fair market value of the shares at that time minus the amount, if any, paid for the shares. However, a recipient who receives restricted shares which are not vested may, within 30 days of the date the shares are transferred, elect in accordance with Section 83(b) of the Code to recognize ordinary compensation income at the time of transfer of the shares rather than upon the vesting dates. Recipients who receive performance shares will generally recognize ordinary income at the time of settlement, in an amount equal to the cash received, if any, and the fair market value of any shares received. We will generally be entitled to a tax deduction at the same time and in the same amount as ordinary income is recognized by the recipient.

**Restrictions on Resale**

Certain officers and directors of the Company may be deemed to be "affiliates" of the Company as that term is defined under the Securities Act. The Common Stock acquired under the 2021 Incentive Plan by an affiliate may be reoffered or resold only pursuant to an effective registration statement or pursuant to Rule 144 under the Securities Act or another exemption from the registration requirements of the Securities Act.

***Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.***

The following table sets forth the beneficial ownership of our common stock as of March 6, 2026 by:

● each person, or group of affiliated persons, whom we know to beneficially own more than 5% of our common stock;

● each of our named executive officers;

● each of our executive officers;

● each of our directors; and

● all of our executive officers and directors as a group.

The percentage ownership information shown in the column labeled "Percentage of Shares Outstanding" is based upon 56,900,743 shares of common stock outstanding as of March 18, 2026.

We have determined beneficial ownership in accordance with the rules of the Securities and Exchange Commission. These rules generally attribute beneficial ownership of securities to persons who possess sole or shared voting power or investment power with respect to those securities. In addition, the rules include shares of common stock issuable pursuant to the exercise of stock options or warrants or upon conversion of a security that are either exercisable or convertible on or before March 18, 2026. These shares are deemed to be outstanding and beneficially owned by the person holding those options or warrants for the purpose of computing the percentage ownership of that person, but they are not treated as outstanding for the purpose of computing the percentage ownership of any other person. Unless otherwise indicated, the persons or entities identified in this table have sole voting and investment power with respect to all shares shown as beneficially owned by them, subject to applicable community property laws.

Except as otherwise noted below, the address for persons listed in the table is c/o KiNRG, Inc., 1213 Culbreth Drive Suite 103, Wilmington, NC 28405.

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| | | |
|:---|:---|:---|
| **Name of Beneficial Owner** | **Number of<br> Shares<br> Beneficially <br> Owned (1)** | **Percentage of<br> Shares<br> Outstanding (1)** |
| ***Names Executive Officers, Executive Officers and Directors:*** | | |
| Ronald W. Pickett | 9842529 | 17.3% |
| Flip Wallen | 2825000 | 5.0% |
| Stephen Sadle | 6915176 | 12.2% |
| Robert P. Crabb | 1552174 | 2.7% |
| H. James Magnuson | 725948 | 1.3% |
| Mossadaq Chughtai | 4257550 | 7.5% |
| Troy A. Hering CPA | 100000 | \* |
| Livian L. Jones | 100000 | \* |
| All executive officers and directors as a group (8 persons) | 26320194 | 46.3% |

---

\* denotes less than 1%

<sup>(1)</sup> Beneficial ownership as reported in the above table has been determined in accordance with Rule 13d-3 promulgated under the Securities Exchange Act of 1934, as amended, and is not necessarily indicative of beneficial ownership for any other purpose. The number of shares of common stock shown as beneficially owned includes shares of common stock issuable upon the exercise of warrants that will become exercisable within sixty (60) days of March 18, 2026.<br>

***Item 13. Certain Relationships and Related Transactions, and Director Independence.***

Except as set forth below, since January 1, 2025, there has not been, nor is there currently proposed, any transaction or series of similar transactions to which the Company was or will be a party in which the amount involved exceeds the lesser of $120,000 or one percent of the average of the Company's total assets at year end for the last two completed fiscal years; and in which any director, executive officer, other stockholders of more than 5% of the Company's Common Stock or any member of their immediate family had or will have a direct or indirect material interest.

On December 28, 2022, the Company received a non-interest bearing loan in the amount of $250,000 from Flip Wallen, a related party and a shareholder of the Company. The Company imputed interest at a rate of 12% per annum. The amount of interest expense imputed on this loan and charged to operations was $14,548 and $30,082, during the year ended December 31, 2025 and 2024, respectively. On June 30, 2025, the Company issued 250,000 shares of common stock of the $250,000 payable to Mr. Wallen based on a conversion price of $1.00 per share. The Board of Directors reviewed and approved this transaction in accordance with our related party transaction policy, determining that it was fair to the Company and in the best interests of our stockholders.

On February 17, 2025, the Company completed the sale of its majority interest in AGP to Ron Pickett, its CEO, for the amount of $1. This amount was credited against the amount due to Mr. Pickett for business expenses. The were no assets on the books of AGP. The Company de-recognized the liabilities of AGP and the balance of non-controlling interest. The loss on sale of AGP to related party was recognized in income (loss) from discontinued operations.

On June 30, 2025, the Company issued 180,000 shares of common stock at a price of $1.00 per share to Officers for the conversion of accrued salary in the amount of $180,000. There was no gain or loss recorded on this transaction as the conversion occurred at the market price at the time of the conversion.

On June 30, 2025, the Company issued 150,000 shares of common stock at a price of $1.00 per share to Directors for the conversion of accrued director's fees in the amount of $150,000. There was no gain or loss recorded on this transaction as the conversion accrued at the market price at the time of the conversion.

On September 30, 2025, the Company issued 2,657,550 shares of common stock to a board member from common stock to be issued. The par value of these shares in the amount of $265 was transferred from common stock to be issued to common stock. There was no gain or loss on this transaction as the value of the shares had been recorded when originally charged to common stock to be issued.

On December 29, 2025, the Company issued 1,125,000 shares of common stock with a fair value of $1,125,000 to its President as compensation for services. The amount of $1,125,000 was charged to stock based compensation. See Note 10.

**Director Independence**

Our board of directors undertook a review of the independence of our directors and considered whether any director has a relationship with us that could compromise that director's ability to exercise independent judgment in carrying out that director's responsibilities. Our board of directors has affirmatively determined that H. James Magnuson, Mossadaq Chughtai, Troy A. Hering CPA and Livian L Jones are each an "independent director," as defined under the Nasdaq rules.

***Item 14. Principal Accountant Fees and Services.***

M&K CPAs, PLLC served as our independent auditors for the fiscal years ended December 31, 2025 and 2024.

The following table shows the fees paid or accrued for the audit and other services provided by our independent auditors for the years ended:

---

| | | |
|:---|:---|:---|
|  | **December 31, <br> 2025** | **December 31, <br> 2024** |
| Audit fees | $66500 | $60000 |
| Audit related fees |  |  |
| Tax fees |  | 25200 |
| All other fees | 10000 | - |
| Total fees | $76500 | $85200 |

---

<u>Tax Fees</u>

During the year ended December 31, 2025, the Company paid $25,200 in fees related to the filing of the Company's tax returns. No tax fees were paid during the year ended December 31, 2025.

<u>All Other Fees</u>

During the year ended December 31, 2025, the Company paid fees in the amount of $10,000 related to the review and filing of the Company's Form 10 registration statement.

 ****

**PART IV**

***Item 15. Exhibits and Financial Statement Schedules.***

*(a) Financial Statements*

The information required by this item is contained under the section of the annual report entitled "Index to Financial Statements" (and the financial statements referenced therein). That section is incorporated herein by reference.

*(b) Exhibits*

The following documents are filed as exhibits hereto:

---

| | |
|:---|:---|
| Exhibit |  |
| Number | Description |
| 3.1 | [Articles of Incorporation of Superior Silver Mines, Inc. (incorporated by reference to Exhibit 3.1 of KiNRG, Inc.'s amended Registration Statement on Form 10-12G/A filed on January 23, 2026)](https://www.sec.gov/Archives/edgar/data/95572/000173112225001619/e7089_ex3-1.htm) |
| 3.2 | [Amended By-Laws (incorporated by reference to Exhibit 3.2 of KiNRG, Inc.'s Registration Statement on Form 10-12G/A filed on January 23, 2026)](https://www.sec.gov/Archives/edgar/data/95572/000173112225001619/e7089_ex3-2.htm) |
| 3.8 | [Certificate of Designation – Series A Preferred Stock (incorporated by reference to Exhibit 3.8 of KiNRG, Inc.'s Registration Statement on Form 10-12G/A filed on January 23, 2026)](https://www.sec.gov/Archives/edgar/data/95572/000173112225001619/e7089_ex3-8.htm) |
| 3.9 | [Certificate of Amendment dated June 5, 2015 (incorporated by reference to Exhibit 3.9 of KiNRG, Inc.'s Registration Statement on Form 10-12G/A filed on January 23, 2026)](https://www.sec.gov/Archives/edgar/data/95572/000173112225001619/e7089_ex3-9.htm) |
| 3.11 | [Certificate of Designation - Series AA Preferred Stock (incorporated by reference to Exhibit 3.11 of KiNRG, Inc.'s Registration Statement on Form 10-12G/A filed on January 23, 2026)](https://www.sec.gov/Archives/edgar/data/95572/000173112225001619/e7089_ex3-11.htm) |
| 3.12 | [Certificate of Amendment dated December 24, 2020 (incorporated by reference to Exhibit 3.12 of KiNRG, Inc.'s Registration Statement on Form 10-12G/A filed on January 23, 2026)](https://www.sec.gov/Archives/edgar/data/95572/000173112225001619/e7089_ex3-12.htm) |
| 3.13 | [Certificate of Amendment dated December 28, 2020 (incorporated by reference to Exhibit 3.13 of KiNRG, Inc.'s Registration Statement on Form 10-12G/A filed on January 23, 2026)](https://www.sec.gov/Archives/edgar/data/95572/000173112225001619/e7089_ex3-13.htm) |
| 3.14 | [Certificate of Designation Series AAA Preferred Stock (incorporated by reference to Exhibit 3.14 of KiNRG, Inc.'s Registration Statement on Form 10-12G/A filed on January 23, 2026)](https://www.sec.gov/Archives/edgar/data/95572/000173112225001619/e7089_ex3-14.htm) |
| 3.15 | [Certificate of Amendment to Certificate of Designation Series AAA Preferred Stock dated April 19, 2021 (incorporated by reference to Exhibit 3.15 of KiNRG, Inc.'s Registration Statement on Form 10-12G/A filed on January 23, 2026)](https://www.sec.gov/Archives/edgar/data/95572/000173112225001619/e7089_ex3-15.htm) |
| 3.16 | [Certificate of Designation Series AAAA Preferred Stock (incorporated by reference to Exhibit 3.16 of KiNRG, Inc.'s Registration Statement on Form 10-12G/A filed on January 23, 2026)](https://www.sec.gov/Archives/edgar/data/95572/000173112225001619/e7089_ex3-16.htm) |
| 3.17 | [Certificate of Amendment to Certificate of Designation Series AAA Preferred Stock dated December 15, 2021 (incorporated by reference to Exhibit 3.17 of KiNRG, Inc.'s Registration Statement on Form 10-12G/A filed on January 23, 2026)](https://www.sec.gov/Archives/edgar/data/95572/000173112225001619/e7089_ex3-17.htm) |
| 3.18 | [Certificate of Amendment to Certificate of Designation Series AAA Preferred Stock dated December 17, 2021 (incorporated by reference to Exhibit 3.18 of KiNRG, Inc.'s Registration Statement on Form 10-12G/A filed on January 23, 2026)](https://www.sec.gov/Archives/edgar/data/95572/000173112225001619/e7089_ex3-18.htm) |
| 3.19 | [Certificate of Amendment to Certificate of Designation Series AAAA Preferred Stock dated May 23, 2022 (incorporated by reference to Exhibit 3.19 of KiNRG, Inc.'s Registration Statement on Form 10-12G/A filed on January 23, 2026)](https://www.sec.gov/Archives/edgar/data/95572/000173112225001619/e7089_ex3-19.htm) |
| 3.20 | [Certificate of Amendment to Certificate of Designation Series AAAA Preferred Stock dated January 23, 2023 (incorporated by reference to Exhibit 3.20 of KiNRG, Inc.'s Registration Statement on Form 10-12G/A filed on January 23, 2026)](https://www.sec.gov/Archives/edgar/data/95572/000173112225001619/e7089_ex3-20.htm) |

---

---

| | |
|:---|:---|
| 3.21 | [Certificate of Amendment to Certificate of Designation Series AAAA Preferred Stock dated January 26, 2023 (incorporated by reference to Exhibit 3.21 of KiNRG, Inc.'s Registration Statement on Form 10-12G/A filed on January 23, 2026)](https://www.sec.gov/Archives/edgar/data/95572/000173112225001619/e7089_ex3-21.htm) |
| 4.1 | [KiNRG, Inc. 2021 Incentive Stock Plan (incorporated by reference to Exhibit 4.1 of KiNRG, Inc.'s Quarterly Report on Form 10-Q filed on December 2, 2025)](https://www.sec.gov/Archives/edgar/data/95572/000121390025116815/ea026673301ex4-1_kinrg.htm) |
| 4.2 | [Description of Registrant's Securities](ea028113101ex4-2.htm) |
| 10.1 | [Executive Employment Agreement between Solar Wind Energy, Inc., Solar Wind Energy Tower, inc. and Ronald Pickett effective January 1, 2024 (incorporated by reference to Exhibit 10.1 of KiNRG, Inc.'s Registration Statement on Form 10-12G/A filed on January 23, 2026)](https://www.sec.gov/Archives/edgar/data/95572/000173112225001619/e7089_ex10-1.htm) |
| 10.2 | [Executive Employment Agreement between Solar Wind Energy, Inc., Solar Wind Energy Tower, inc. and Stephen Sadle effective January 1, 2024 (incorporated by reference to Exhibit 10.2 of KiNRG, Inc.'s Registration Statement on Form 10-12G/A filed on January 23, 2026)](https://www.sec.gov/Archives/edgar/data/95572/000173112225001619/e7089_ex10-2.htm) |
| 14.1 | [Code of Ethics](ea028113101ex14-1.htm) |
| 19.1 | [Insider Trading Policy](ea028113101ex19-1.htm) |
| 21.1 | [List of Subsidiaries of KiNRG, Inc.](ea028113101ex21-1.htm) |
| 31.1 | [Certification of Principal Executive Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.](ea028113101ex31-1.htm) |
| 31.2 | [Certification of Principal Financial Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.](ea028113101ex31-2.htm) |
| 32.1 | [Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.](ea028113101ex32-1.htm) |
| 32.2 | [Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.](ea028113101ex32-2.htm) |
| 101.INS | Inline XBRL Instance Document |
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document |
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document |
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document |
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document and contained in Exhibit 101) |

---

***Item 16. Form 10-K Summary.***

 ****

None.

**SIGNATURES**

Pursuant to the requirements of Section 12 of the Securities Exchange Act of 1934, the registrant has duly caused this Annual Report on Form 10-K to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | |
|:---|:---|
|  | KiNRG, Inc. |
| Date: March 20, 2026 | /s/ Ronald W. Pickett |
|  | Ronald W. Pickett, <br> Chief Executive Officer |

---

POWER OF ATTORNEY

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Ronald W. Pickett, and each of them, as his or her true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments to this Annual Report on Form 10-K, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them or their or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed by the following persons on March 20, 2026, in the capacities indicated.

---

| | | |
|:---|:---|:---|
| Signature | Title | Date |
| /s/ *Ronald W. Pickett* | Chief Executive Officer & Chairman | March 20, 2026 |
| Ronald W. Pickett | (*Principal Accounting Officer)* |  |
| /s/ *Stephen Sadle* | Chief Operating Officer & Director | March 20, 2026 |
| Stephen Sadle |  |  |
| /s/ *H. James Magnuson* | Director | March 20, 2026 |
| H. James Magnuson |  |  |
| /s/ *Mossadaq Chughtai* | Director | March 20, 2026 |
| Mossadaq Chughtai |  |  |
| /s/ *Troy A. Hering* | Director | March 20, 2026 |
| Troy A. Hering |  |  |
| /s/ *Livian L. Jones* | Director | March 20, 2026 |
| Livian L. Jones |  |  |

---

## Exhibit 4.2

**Exhibit 4.2**

**Description of Registrant's Securities**

**Description of Common Stock**

The following description of our Common Stock (as defined below) is qualified in its entirety by reference to our Articles of Incorporation (the "Articles of Incorporation") and our bylaws (the "Bylaws"), each of which are incorporated by reference as an exhibit to the Annual Report on Form 10-K of which this Exhibit 4.1 is a part.

<u>Authorized Capital Shares</u>

Our authorized capital shares consist of 250,000,000 shares of common stock, par value $0.0001 per share ("Common Stock") and 10,000,000 shares of preferred stock, par value $0.0001 per share ("Preferred Stock").

<u>Voting Rights.</u>

All of the shares of Common Stock have equal voting rights and power without restriction in preference. Each stockholder, on each matter submitted to a vote at a meeting of stockholders, has one vote for each share registered in the stockholder's name on the books of our company. A quorum at any annual or special meeting of stockholders consists of stockholders representing, either in person or by proxy, a majority of the outstanding shares of our company, entitled to vote at such meeting. The votes of a majority in interest of those present at any properly called meeting or adjourned meeting of stockholders at which a quorum is presented, is sufficient to transact business.

<u>Dividend Rights</u>

The Board of Directors may, from time to time, declare and we may pay dividends on its outstanding shares of Common Stock in cash, property, or its own shares, except when we are insolvent or when the payment thereof would render us insolvent or when the declaration or payment thereof would be contrary to any restrictions contained in the Company's governing documents or applicable law. We have never paid, and have no plans to pay, any dividends on its shares of Common Stock.

<u>No Preemptive or Conversion Rights</u>

Holders of shares of our Common Stock do not have preemptive rights to purchase additional shares of our Common Stock and have no conversion or redemption rights.

<u>Liquidation Rights</u>

In the event of any liquidation, dissolution or winding up of the Company, holders of the common stock have the right to receive ratably and equally all of the assets remaining after payment of liabilities and liquidation preferences of any preferred stock then outstanding.

## Exhibit 14.1

**Exhibit 14.1**

**KINRG, INC.**

**CODE OF BUSINESS CONDUCT AND ETHICS**

This Code of Business Conduct and Ethics (this "Code") sets forth legal and ethical standards of conduct for employees, officers and directors of KiNRG, Inc. (the "Company"). This Code is intended to deter wrongdoing and to promote the conduct of all Company business in accordance with high standards of integrity and in compliance with all applicable laws and regulations. This Code applies to the Company and all of its subsidiaries and other business entities controlled by it worldwide.

If you have any questions regarding this Code or its application to you in any situation, you should contact your supervisor or the Chief Financial Officer.

**Compliance with Laws, Rules and Regulations**

The Company requires that all employees, officers and directors comply with all laws, rules and regulations applicable to the Company wherever it does business. You are expected to use good judgment and common sense in seeking to comply with all applicable laws, rules and regulations and to ask for advice when you are uncertain about them.

If you become aware of the violation of any law, rule or regulation by the Company, whether by its employees, officers, directors or any third party doing business on behalf of the Company, it is your responsibility to promptly report the matter to your supervisor or to the Chairman of the Audit Committee of the Board of Directors (the "Audit Committee"), the Chief Executive Officer or the Chief Financial Officer. While it is the Company's desire to address matters internally, nothing in this Code should discourage you from reporting any illegal activity, including any violation of the securities laws, antitrust laws, environmental laws or any other federal, state or foreign law, rule or regulation, to the appropriate regulatory authority. Employees, officers and directors shall not discharge, demote, suspend, threaten, harass or in any other manner discriminate or retaliate against an employee because he or she reports any such violation, unless it is determined that the report was made with knowledge that it was false. This Code should not be construed to prohibit you from testifying, participating or otherwise assisting in any state or federal administrative, judicial or legislative proceeding or investigation.

**Compliance with Company Policies**

Every employee, officer and director is expected to comply with all Company policies and rules as in effect from time to time.

**Conflicts of Interest**

Employees, officers and directors must act in the best interests of the Company. You must refrain from engaging in any activity or having a personal interest that presents a "conflict of interest" and should seek to avoid even the appearance of a conflict of interest. A conflict of interest occurs when your personal interest interferes with the interests of the Company. A conflict of interest can arise whenever you, as an employee, officer or director, take action or have an interest that prevents you from performing your Company duties and responsibilities honestly, objectively and effectively.

For example:

● No employee, officer or director shall perform services as an employee, officer, director, consultant, advisor or in any other capacity for a competitor of the Company, other than services performed at the request of the Company;

● No employee, officer or director shall have a financial interest in a competitor of the Company, other than a financial interest representing less than one percent (1%) of the outstanding shares of a publicly held company; and

● No employee, officer or director shall use his or her position with the Company to influence a transaction with a supplier or customer in which such person has any personal interest, other than a financial interest representing less than one percent (1%) of the outstanding shares of a publicly held company.

It is your responsibility to disclose any transaction or relationship that reasonably could be expected to give rise to a conflict of interest to the Chief Financial Officer or, if you are an executive officer or director, to the Board of Directors, who shall be responsible for determining whether such transaction or relationship constitutes a conflict of interest.

**Insider Trading**

Employees, officers and directors who have material non-public information about the Company or other companies, including our suppliers and customers, as a result of their relationship with the Company are prohibited by law and Company policy from trading in securities of the Company or such other companies, as well as from communicating such information to others who might trade on the basis of that information. To help ensure that you do not engage in prohibited insider trading and avoid even the appearance of an improper transaction, the Company has adopted an Insider Trading Policy. You are expected to become familiar with this policy.

If you are uncertain about the constraints on your purchase or sale of any Company securities or the securities of any other company that you are familiar with by virtue of your relationship with the Company, you should consult with the Chief Financial Officer before making any such purchase or sale.

**Confidentiality**

Employees, officers and directors must maintain the confidentiality of confidential information entrusted to them by the Company or other companies, including our suppliers and customers, except when disclosure is authorized by a supervisor or legally mandated. Unauthorized disclosure of any confidential information is prohibited. Additionally, employees should take appropriate precautions to ensure that confidential or sensitive business information, whether it is proprietary to the Company or another company, is not communicated within the Company except to employees who have a need to know such information to perform their responsibilities for the Company.

Third parties may ask you for information concerning the Company. Subject to the exceptions noted in the preceding paragraph, employees, officers and directors (other than the Company's authorized spokespersons) must not discuss internal Company matters with, or disseminate internal Company information to, anyone outside the Company, except as required in the performance of their Company duties and, if appropriate, after a confidentiality agreement is in place. This prohibition applies particularly to inquiries concerning the Company from the media, market professionals (such as securities analysts, institutional investors, investment advisers, brokers and dealers) and security holders. All responses to inquiries on behalf of the Company must be made only by the Company's authorized spokespersons. If you receive any inquiries of this nature, you must decline to comment and refer the inquirer to your supervisor or one of the Company's authorized spokespersons. The Company's policies with respect to public disclosure of internal matters are described more fully in the Company's Disclosure Policy.

You also must abide by any lawful obligations that you have to your former employer. These obligations may include restrictions on the use and disclosure of confidential information, restrictions on the solicitation of former colleagues to work at the Company and non-competition obligations.

**Honest and Ethical Conduct and Fair Dealing**

Employees, officers and directors should endeavor to deal honestly, ethically and fairly with the Company's suppliers, customers, competitors and employees. Statements regarding the Company's products and services must not be untrue, misleading, deceptive or fraudulent. You must not take unfair advantage of anyone through manipulation, concealment, abuse of privileged information, misrepresentation of material facts or any other unfair-dealing practice.

**Protection and Proper Use of Corporate Assets**

Employees, officers and directors should seek to protect the Company's assets, including proprietary information. Theft, carelessness and waste have a direct impact on the Company's financial performance. Employees, officers and directors must use the Company's assets and services solely for legitimate business purposes of the Company and not for any personal benefit or the personal benefit of anyone else.

Employees, officers and directors must advance the Company's legitimate interests when the opportunity to do so arises. You must not take for yourself personal opportunities that are discovered through your position with the Company or the use of property or information of the Company.

**Gifts and Gratuities**

The use of Company funds or assets for gifts, gratuities or other favors to government officials is prohibited, except to the extent such gifts, gratuities or other favors are in compliance with applicable law, insignificant in amount and not given in consideration or expectation of any action by the recipient. The use of Company funds or assets for gifts to any customer, supplier or other person doing or seeking to do business with the Company is prohibited, except to the extent such gifts are in compliance with the policies of both the Company and the recipient and are in compliance with applicable law.

Employees, officers and directors must not accept, or permit any member of his or her immediate family to accept, any gifts, gratuities or other favors from any customer, supplier or other person doing or seeking to do business with the Company, other than items of insignificant value. Any gifts that are not of insignificant value should be returned immediately and reported to your supervisor. If immediate return is not practical, they should be given to the Company for charitable disposition or such other disposition as the Company, in its sole discretion, believes appropriate.

Common sense and moderation should prevail in business entertainment engaged in on behalf of the Company. Employees, officers and directors should provide, or accept, business entertainment to or from anyone doing business with the Company only if the entertainment is infrequent, modest, intended to serve legitimate business goals and in compliance with applicable law.

Bribes and kickbacks are criminal acts, strictly prohibited by law. You must not offer, give, solicit or receive any form of bribe or kickback anywhere in the world. The Foreign Corrupt Practices Act prohibits giving anything of value, directly or indirectly, to officials of foreign governments or foreign political candidates in order to obtain or retain business.

**Accuracy of Books and Records and Public Reports**

Employees, officers and directors must honestly and accurately report all business transactions. You are responsible for the accuracy of your records and reports. Accurate information is essential to the Company's ability to meet legal and regulatory obligations.

All Company books, records and accounts shall be maintained in accordance with all applicable regulations and standards and accurately reflect the true nature of the transactions they record. The financial statements of the Company shall conform to generally accepted accounting rules and the Company's accounting policies. No undisclosed or unrecorded account or fund shall be established for any purpose. No false or misleading entries shall be made in the Company's books or records for any reason, and no disbursement of corporate funds or other corporate property shall be made without adequate supporting documentation.

It is the policy of the Company to provide full, fair, accurate, timely and understandable disclosure in reports and documents filed with, or submitted to, the Securities and Exchange Commission and in other public communications.

**Concerns Regarding Accounting or Auditing Matters**

Employees with concerns regarding questionable accounting or auditing matters or complaints regarding accounting, internal accounting controls or auditing matters may confidentially, and anonymously if they wish, submit such concerns or complaints in writing to the Chairman of the Audit Committee, the Chief Executive Officer or the Chief Financial Officer at KiNRG, Inc., 1213 Culbreth Drive Suite 103, Wilmington, North Carolina], or by using the toll-free number 910-509-7183, or by visiting https://www.kinrg.com/. See "Reporting and Compliance Procedures". All such concerns and complaints will be forwarded to the Audit Committee, unless they are determined to be without merit by the Chairman of the Audit Committee or the Chief Executive Officer, as the case may be. In any event, a record of all complaints and concerns received will be provided to the Audit Committee each fiscal quarter.

The Audit Committee will evaluate the merits of any concerns or complaints received by it and authorize such follow-up actions, if any, as it deems necessary or appropriate to address the substance of the concern or complaint,

The Company will not discipline, discriminate against or retaliate against any employee who reports a complaint or concern, unless it is determined that the report was made with knowledge that it was false.

**Dealings with Independent Auditors**

No employee, officer or director shall, directly or indirectly, make or cause to be made a materially false or misleading statement to an accountant in connection with (or omit to state, or cause another person to omit to state, any material fact necessary in order to make statements made, in light of the circumstances under which such statements were made, not misleading to, an accountant in connection with) any audit, review or examination of the Company's financial statements or the preparation or filing of any document or report with the SEC. No employee, officer or director shall, directly or indirectly, take any action to coerce, manipulate, mislead or fraudulently influence any independent public or certified public accountant engaged in the performance of an audit or review of the Company's financial statements.

**Waivers of this Code of Business Conduct and Ethics**

While some of the policies contained in this Code must be strictly adhered to and no exceptions can be allowed, in other cases exceptions may be appropriate. Any employee or officer who believes that a waiver of any of these policies is appropriate in his or her case should first contact his or her immediate supervisor. If the supervisor agrees that a waiver is appropriate, the approval of the Chief Executive Officer must be obtained. The Chief Executive Officer and Chief Financial Officer shall be responsible for maintaining a record of all requests by employees or officers for waivers of any of these policies and the disposition of such requests.

Any executive officer or director who seeks a waiver of any of these policies should contact the Chairman of the Board. Any waiver of this Code for executive officers or directors or any change to this Code that applies to executive officers or directors may be made only by the Board of Directors of the Company and will be disclosed as required by law or stock exchange regulation.

**Reporting and Compliance Procedures**

Every employee, officer and director has the responsibility to ask questions, seek guidance, report suspected violations and express concerns regarding compliance with this Code. Any employee, officer or director who knows or believes that any other employee or representative of the Company has engaged or is engaging in Company-related conduct that violates applicable law or this Code should report such information to his or her supervisor or to the Chairman of the Audit Committee, the Chief Executive Officer or the Chief Financial Officer as described below. You may report such conduct openly or anonymously without fear of retaliation. The Company will not discipline, discriminate against or retaliate against any employee who reports such conduct, unless it is determined that the report was made with knowledge that it was false, or who cooperates in any investigation or inquiry regarding such conduct. Any supervisor who receives a report of a violation of this Code must immediately inform the Chairman of the Audit Committee, the Chief Executive Officer or the Chief Financial Officer

You may report violations of this Code, on, a confidential or anonymous basis, by contacting the Chairman of the Audit Committee, the Chief Executive Officer or the Chief Financial Officer at KiNRG, Inc., 1213 Culbreth Drive Suite 103, Wilmington, North Carolina], or by using the toll-free number 910-509-7183, or by visiting https://www.kinrg.com/. While we prefer that you identify yourself when reporting violations so that we may follow up with you, as necessary, for additional information, you may leave messages anonymously if you wish.

If the Chairman of the Audit Committee, the Chief Executive Officer or the Chief Financial Officer receives information regarding an alleged violation of this Code, he or she shall, as appropriate, (a) evaluate such information, (b) if the alleged violation involves an executive officer or a director, inform the Chief Executive Officer and Board of Directors of the alleged violation, (c) determine whether it is necessary to conduct an informal inquiry or a formal investigation and, if so, initiate such inquiry or investigation and (d) report the results of any such inquiry or investigation, together with a recommendation as to disposition of the matter, to the Chief Executive Officer for action, or if the alleged violation involves an executive officer or a director, report the results of any such inquiry or investigation to the Board of Directors or a committee thereof. Employees, officers and directors are expected to cooperate fully with any inquiry or investigation by the Company regarding an alleged violation of this Code. Failure to cooperate with any such inquiry or investigation may result in disciplinary action, up to and including discharge.

The Company shall determine whether violations of this Code have occurred and, if so, shall determine the disciplinary measures to be taken against any employee who has violated this Code. In the event that the alleged violation involves an executive officer or a director, the Chief Executive Officer and the Board of Directors, respectively, shall determine whether a violation of this Code has occurred and, if so, shall determine the disciplinary measures to be taken against such executive officer or director.

Failure to comply with the standards outlined in this Code will result in disciplinary action including, but not limited to, reprimands, warnings, probation or suspension without pay, demotions, reductions in salary, discharge and restitution. Certain violations of this Code may require the Company to refer the matter to the appropriate governmental or regulatory authorities for investigation or prosecution. Moreover, any supervisor who directs or approves of any conduct in violation of this Code, or who has knowledge of such conduct and does not immediately report it, also will be subject to disciplinary action, up to and including discharge.

**Dissemination and Amendment**

This Code shall be distributed to each new employee, officer and director of the Company upon commencement of his or her employment or other relationship with the Company and shall also be distributed annually to each employee, officer and director of the Company. Following distribution of this Code, each employee, officer and director shall certify that he or she has received, read and understood this Code and has complied with its terms.

The Company reserves the right to amend, alter or terminate this Code at any time and for any reason. The most current version of this Code is available.

This document is not an employment contract between the Company and any of its employees, officers or directors.

## Exhibit 19.1

**Exhibit 19.1**

**KINRG, INC.**

**INSIDER TRADING POLICY**

**1. BACKGROUND AND PURPOSE**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.1 <u>Why Have We Adopted This Policy?</u>

The federal securities laws prohibit any member of the Board of Directors (a "Director") or employee of the Company (including its subsidiaries) from purchasing or selling Company securities on the basis of material nonpublic information concerning the Company, or from tipping material nonpublic information to others. These laws impose severe sanctions on individuals who violate them. In addition, the SEC has the authority to impose large fines on the Company and on the Company's Directors, executive officers and controlling stockholders if the Company's employees engage in insider trading and the Company has failed to take appropriate steps to prevent it (so-called "controlling person" liability).

This insider trading policy is being adopted in light of these legal requirements, and with the goal of helping:

● prevent inadvertent violations of the insider trading laws;

● avoid embarrassing proxy disclosure of reporting violations by persons subject to Section 16 of the Securities Exchange Act of 1934 (the "Exchange Act");

● avoid even the appearance of impropriety on the part of those employed by, or associated with, the Company;

● protect the Company from controlling person liability; and

● protect the reputation of the Company, its Directors and its employees.

As detailed below, this policy applies to family members and certain other persons and entities with whom Directors and employees have relationships. However, nothing in this policy is applicable to transactions by the Company itself.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.2 <u>What Type of Information Is "Material"?</u>

Information concerning the Company is considered material if there is a substantial likelihood that a reasonable stockholder would consider the information important in making an investment decision with respect to the Company's securities. Stated another way, there must be a substantial likelihood that a reasonable stockholder would view the information as having significantly altered the "total mix" of information available about the Company. Material information can include positive or negative information about the Company. Information concerning any of the following subjects, or the Company's plans with respect to any of these subjects, would often be considered material:

● the Company's revenues or earnings;

● information related to the results of clinical trials;

● communications sent to or received from the U.S. Food and Drug Administration;

● negotiation or execution of any significant new agreement, or changes to an existing agreement;

● a significant merger or acquisition involving the Company;

● a change in control of the Company;

● a significant change in the management or the Board of Directors of the Company;

● the public or private sale of a significant amount of securities of the Company;

● the Company's decision to commence or terminate the payment of cash dividends;

● the establishment of a stock repurchase program;

● a stock split;

● a default on outstanding debt or preferred stock;

● a bankruptcy filing;

● a new product release or a significant development, invention or discovery;

● the loss, delay or gain of a significant contract, sale or order or other important development regarding customers or suppliers;

● a conclusion by the Company or a notification from its independent auditor that any of the Company's previously issued financial statements should no longer be relied upon; or

● a change in the Company's independent auditor.

This list is illustrative only and is not intended to provide a comprehensive list of circumstances that could give rise to material information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.3 <u>When Is Information "Nonpublic"?</u>

Information concerning the Company is considered nonpublic if it has not been disseminated in a manner making it available to investors generally.

Information will generally be considered nonpublic unless (1) the information has been disclosed in a press release, in a public filing made with the Securities and Exchange Commission (such as a Report on Form 10-K, Form 10-Q, or Form 8-K), through a news wire service or daily newspaper of wide circulation or, in some circumstances, on the Company's website, and (2) a sufficient amount of time has passed so that the information has had an opportunity to be digested by the marketplace.

**2. PROHIBITIONS RELATING TO TRANSACTIONS IN THE COMPANY'S SECURITIES**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.1 <u>Covered Persons</u>. This Section 2 applies to:

● all Directors;

● all employees;

● all family members of Directors and employees who share the same address as, or are financially dependent on, the Director or employee and any other person who shares the same address as the Director or employee (other than (x) an employee or tenant of the Director or employee or (y) another unrelated person whom the Chief Financial Officer determines should not he covered by this policy); and

● all corporations, partnerships, trusts or other entities controlled by any of the above persons, unless the entity has implemented policies or procedures designed to ensure that such person cannot influence transactions by the entity involving Company securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.2 <u>Prohibition on Trading While Aware of Material Nonpublic Information</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) <u>Prohibited Activities</u>. Except as provided in Section 4, no person or entity covered by Section 2 may:

● purchase, sell or donate any securities of the Company while he or she is aware of any material nonpublic information concerning the Company or recommend to another person that they do so;

● disclose to any other person any material nonpublic information concerning the Company if such person may misuse that information, such as by purchasing or selling Company securities or tipping that information to others;

● purchase, sell or donate any securities of another company while he or she is aware of any material nonpublic information concerning such other company which he or she learned in the course of his or her service as a Director or employee of the Company or recommend to another person that they do so; or

● disclose to any other person any material nonpublic information concerning another company which he or she learned in the course of his or her service as a Director or employee of the Company if such person may misuse that information, such as by purchasing or selling securities of such other company or tipping that information to others.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Application of Policy After Cessation of Service</u>. If a person ceases to be a Director or employee of the Company at a time when he or she is aware of material nonpublic information concerning the Company, the prohibition on purchases, sales or donations of Company securities in Section 2.2(a) shall continue to apply to such person until that information has become public or is no longer material.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 <u>Prohibition on Pledges</u>. No person or entity covered by this Section 2 may at any time purchase Company securities on margin, borrow against Company securities held in a margin account, or pledge Company securities as collateral for a loan. However, an exception may be granted where a person wishes to pledge Company securities as collateral for a loan (other than a margin loan) and clearly demonstrates the financial capacity to repay the loan without resort to the pledged securities. Any person who wishes to pledge Company securities as collateral for a loan must submit a request for approval to the Chief Financial Officer. In addition, any such request by a Director or executive officer of the Company must also be reviewed and approved by the Audit Committee of the Board of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4 <u>Prohibition on Short Sales and Derivative Transactions</u>. No person or entity covered by this Section 2 may engage at any time in any of the following types of transactions:

● short sales of Company securities, including short sales "against the box";

● purchases or sales of puts, calls or other derivative securities based on the Company's securities; or

● purchases of financial instruments (including prepaid variable forward contracts, equity swaps, collars and exchange funds) that are designed to hedge or offset any decrease in the market value of Company securities.

**3. ADDITIONAL PROHIBITIONS APPLICABLE TO DIRECTORS, EXECUTIVE OFFICERS AND DESIGNATED EMPLOYEES**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.1 <u>Covered Persons</u>. Section 3 applies to:

● all Directors;

● all executive officers;

● such other employees as are designated from time to time by the Board of Directors, the Chief Executive Officer or the Chief Financial Officer as being subject to this Section 3 (the "Designated Employees");

● all family members of Directors, executive officers and Designated Employees who share the same address as, or are financially dependent on, the Director, executive officer or Designated Employee and any other person who shares the same address as the Director, executive officer or Designated Employee (other than (x) an employee or tenant of the Director, executive officer or Designated Employee or (y) another unrelated person whom the Chief Financial Officer determines should not be covered by this policy); and

● all corporations, partnerships, trusts or other entities controlled by any of the above persons, unless the entity has implemented policies or procedures designed to ensure that such person cannot influence transactions by the entity involving Company securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.2 <u>Blackout Periods</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Regular Blackout Periods</u>. Except as provided in Section 4, no person or entity covered by this Section 3 may purchase, sell or donate any securities of the Company during the period beginning on the 15th day of the last month of the quarter (March 15, June 15, September 15, December 15) and ending upon the completion of the second full trading day after the public announcement of earnings for such quarter (a "regular blackout period"). In effect, this means the blackout starts about two weeks prior to the end of the fiscal quarter and lasts until a couple of days after the Company announces results for that quarter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Corporate News Blackout Periods</u>. The Company may from time to time notify Directors, executive officers and other specified employees that an additional blackout period (a "corporate news blackout period") is in effect in view of significant events or developments involving the Company. In such event, except as provided in Section 4, no such individual may purchase, sell or donate any securities of the Company during such corporate news blackout period or inform anyone else that a corporate news blackout period is in effect. (In this policy, regular blackout periods and corporate news blackout periods are each referred to as a "blackout period.")

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.3 <u>Notice and Pre-Clearance of Transactions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Pre-Transaction Clearance</u>. No person or entity covered by this Section 3 (a "Pre-Clearance Person") may purchase or sell or otherwise acquire or dispose of securities of the Company, other than in a transaction permitted under Section 4, unless such person pre- clears the transaction with the Chief Financial Officer. A request for pre-clearance shall be made in accordance with the procedures established by the Chief Financial Officer. The Chief Financial Officer shall have sole discretion to decide whether to clear any contemplated transaction. All trades that are pre-cleared must be effected within five business days of receipt of the pre-clearance unless a specific exception has been granted by the Chief Financial Officer. A pre-cleared trade (or any portion of a pre-cleared trade) that has not been effected during the five business day period must be pre-cleared again prior to execution. Notwithstanding receipt of pre-clearance, if the Pre-Clearance Person becomes aware of material nonpublic information or becomes subject to a blackout period before the transaction is effected, the transaction may not be completed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Post-Transaction Notice</u>. Each person or entity covered by this Section 3 who is subject to reporting obligations under Section 16 of the Exchange Act shall also notify the Chief Financial Officer (or his or her designee) of the occurrence of any purchase, sale or other acquisition or disposition of securities of the Company as soon as possible following the transaction, but in any event within one business day after the transaction. Such notification may be oral or in writing (including by email) and should include the identity of the covered person, the type of transaction, the date of the transaction, the number of shares involved and the purchase or sale price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Deemed Time of a Transaction</u>. For purposes of this Section 3.3, a purchase, sale or other acquisition or disposition shall be deemed to occur at the time the person becomes irrevocably committed to it (for example, in the case of an open market purchase or sale, this occurs when the trade is executed, not when it settles).

**4. EXCEPTIONS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 <u>Exceptions</u>. The prohibitions in Sections 2.2(a) and 3.2 on purchases, sales and donations of Company securities do not apply to:

● exercises of stock options or other equity awards or the surrender of shares to the Company in payment of the exercise price or in satisfaction of any tax withholding obligations, in each case in a manner permitted by the applicable equity award agreement; provided, however, that the securities so acquired may not be sold (either outright or in connection with a "cashless" exercise transaction through a broker) while the employee or Director is aware of material nonpublic information or, in the case of someone who is subject to Section 3, during a blackout period;

● acquisitions or dispositions of Company common stock under the Company's 401(k) or other individual account plan that are made pursuant to standing instructions not entered into or modified while the employee or Director is aware of material nonpublic information or, in the case of someone who is subject to Section 3, during a blackout period;

● other purchases of securities from the Company (including purchases under the Company's Employee Stock Purchase Plan) or sales of securities to the Company;

● bona fide gifts, unless the employee or Director making the gift has reason to believe that the recipient intends to sell the securities while such employee or Director is aware of material nonpublic information or, if such employee or Director is subject to Section 3, during a blackout period applicable to such employee or Director; and

● purchases or sales made pursuant to a binding contract, written plan or specific instruction (a "trading plan") which is adopted and operated in compliance with Rule 10b5-1; provided such trading plan: (1) is in writing; (2) was submitted to the Company for review by the Company prior to its adoption; and (3) was not adopted while the employee or Director was aware of material nonpublic information or, in the case of someone who is subject to Section 3, during a blackout period; and provided further that, in the case of someone who is subject to Section 3, if such trading plan is adopted within two weeks prior to the commencement of a regular blackout period (as defined in Section 2.3(a)), trades may not occur pursuant to such trading plan prior to the termination of such regular blackout period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 <u>Partnership Distributions</u>. Nothing in this policy is intended to limit the ability of a venture capital partnership or other similar entity with which a Director is affiliated to distribute Company securities to its partners, members or other similar persons. It is the responsibility of each affected Director and the affiliated entity, in consultation with their own counsel (as appropriate), to determine the timing of any distributions, based on all relevant facts and circumstances and applicable securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 <u>Underwritten Public Offering</u>. Nothing in this policy is intended to limit the ability of any person to sell Company securities as a selling stockholder in an underwritten public offering pursuant to an effective registration statement in accordance with applicable securities law.

**5. REGULATION BTR**

If the Company is required to impose a "pension fund blackout period" under Regulation BTR, each Director and executive officer shall not, directly or indirectly, sell, purchase or otherwise transfer during such blackout period any equity securities of the Company acquired in connection with his or her service as a director or officer of the Company, except as permitted by Regulation BTR.

**6. PENALTIES FOR VIOLATION**

Violation of any of the foregoing rules is grounds for disciplinary action by the Company, including termination of employment. In addition to any disciplinary actions the Company may take, insider trading can also result in administrative, civil or criminal proceedings which can result in significant tines and civil penalties, being barred from service as an officer or director of a public company, or imprisonment.

**7. COMPANY EDUCATION AND ASSISTANCE**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 <u>Education</u>. The Company shall take reasonable steps designed to ensure that all Directors and employees of the Company are educated about, and periodically reminded of, the federal securities law restrictions and Company policies regarding insider trading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 <u>Assistance</u>. The Company shall provide reasonable assistance to all Directors and executive officers, as requested by such Directors and executive officers, in connection with the filing of Forms 3, 4 and 5 under Section 16 of the Exchange Act. However, the ultimate responsibility, and liability, for timely filing remains with the Directors and executive officers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3 <u>Limitation on Liability</u>. None of the Company, the Chief Financial Officer, or the Company's other employees will have any liability for any delay in reviewing, or refusal of, a request to allow a pledge submitted pursuant to Section 2.3, a request for pre-clearance submitted pursuant to Section 3.3(a) or a trading plan submitted pursuant to Section 4.1. Notwithstanding any pre-clearance of a transaction pursuant to Section 3.3(a) or review of a trading plan pursuant to Section 4.1, none of the Company, the Chief Financial Officer, or the Company's other employees assumes any liability for the legality or consequences of such transaction or trading plan to the person engaging in or adopting such transaction or trading plan.

## Exhibit 21.1

**Exhibit 21.1**

List of Subsidiaries of KiNRG, Inc.

KiNRG Global Solutions, Inc.

## Exhibit 31.1

**Exhibit 31.1**

**Certification of Principal Executive Officer**

I, Ronald W. Pickett, certify that:

1. I have reviewed this Annual Report on Form 10-K of KiNRG, Inc. (the " <u>registrant</u> ");

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's Board of Directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| |
|:---|
| Date: March 20, 2026 |
| */s/ Ronald W. Pickett* |
| Ronald W. Pickett |
| Chief Executive Officer (Principal Executive Officer) |

---

## Exhibit 31.2

**Exhibit 31.2**

**Certification of Principal Financial Officer**

I, Ronald W. Pickett, certify that:

1. I have reviewed this Annual Report on Form 10-K of KiNRG, Inc. (the " <u>registrant</u> ");

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The
registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial
reporting, to the registrant's auditors and the audit committee of the registrant's Board of Directors (or persons performing
the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| |
|:---|
| Date: March 20, 2026 |
| */s/ Ronald W. Pickett* |
| Ronald W. Pickett |
| Chief Financial Officer (Principal Financial Officer) |

---

## Exhibit 32.1

**Exhibit 32.1**

**Certification of Principal Executive Officer**

**Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to Section 906 of The Sarbanes-Oxley Act of 2002**

I, Ronald W. Pickett, Chief Executive Officer of KiNRG, Inc. (the "<u>Company</u>"), certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350, that:

&nbsp;&nbsp;&nbsp;&nbsp;(i) The Annual Report on Form 10-K of the Company for the year ended December 31, 2025 (the " <u>Report</u> "), fully complies with the requirements of Section 13(a) or Section 15(d), as applicable, of the Securities Exchange Act of 1934, and

(ii) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company at the dates and for the periods indicated.

---

| |
|:---|
| Date: March 20, 2026 |
| */s/ Ronald W. Pickett* |
| Ronald W. Pickett |
| Chief Executive Officer (Principal Executive Officer) |

---

## Exhibit 32.2

**Exhibit 32.2**

**Certification of Principal Financial Officer**

**Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to Section 906 of The Sarbanes-Oxley Act of 2002**

I, Ronald W. Pickett, Chief Financial Officer of KiNRG, Inc. (the "<u>Company</u>"), certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350, that:

&nbsp;&nbsp;&nbsp;&nbsp;(i) The Annual Report on Form 10-K of the Company for the year ended December 31, 2025 (the " <u>Report</u> "), fully complies with the requirements of Section 13(a) or Section 15(d), as applicable, of the Securities Exchange Act of 1934, and

(ii) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company at the dates and for the periods indicated.

---

| |
|:---|
| Date: March 20, 2026 |
| */s/ Ronald W. Pickett* |
| Ronald W. Pickett |
| Chief Financial Officer (Principal Financial Officer) |

---