# EDGAR Filing Document

**Accession Number:** 0001968555
**File Stem:** 0001968555-26-000004
**Filing Date:** 2026-5
**Character Count:** 23546
**Document Hash:** b9f03d5ec28447e5028fffc063affea6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001968555-26-000004.hdr.sgml**: 20260511

**ACCESSION NUMBER**: 0001968555-26-000004

**CONFORMED SUBMISSION TYPE**: C-AR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260511

**DATE AS OF CHANGE**: 20260511

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Gelf Energy Corp
- **CENTRAL INDEX KEY:** 0001968555

**ORGANIZATION NAME:**
- **EIN:** 854268649
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** C-AR
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 020-31950
- **FILM NUMBER:** 26962433

**BUSINESS ADDRESS:**
- **STREET 1:** 5301 KA HAKU RD., 119A
- **STREET 2:** 119A
- **CITY:** PRINCEVILLE
- **STATE:** HI
- **ZIP:** 96722
- **BUSINESS PHONE:** 8088550124

**MAIL ADDRESS:**
- **STREET 1:** 5301 KA HAKU RD., 119A
- **STREET 2:** 119A
- **CITY:** PRINCEVILLE
- **STATE:** HI
- **ZIP:** 96722

## Ex-99

```

ANNUAL REPORT ON FORM C-AR

  UNITED STATES SECURITIES AND EXCHANGE COMMISSION

  Washington, D.C. 20549

  Filed pursuant to Section 4A(b) of the Securities Act of 1933

  and Rule 202 of Regulation Crowdfunding (17 CFR 227.202)

  COMPANY: GELF Energy Corp.

  CIK: 0001968555

  FISCAL YEAR END: December 31st 2025

  =========================================

  ITEM 1. COMPANY INFORMATION

  =========================================

  Legal Name: GELF Energy Corp.

  CIK: 0001968555

  Legal Entity Type: Corporation

  State of Incorporation: DELAWARE

  Principal Office: 5301 Ka Haku Rd., 119a, PRINCEVILLE, HAWAII 96722

  Website: http://www.gelfenergy.com/

  Email: Brett@GELFEnergy.com

  Phone: 8088550124

  =========================================

  ITEM 2. BUSINESS DESCRIPTION

  =========================================

  GELF Energy Corp. ("GELF," the "Company," "we," "us," or "our") is a Delaware

  corporation focused on the development of technology intended to increase

  renewable natural gas ("RNG") production from anaerobic digestion systems. Our

  principal executive offices are located at 5301 Ka Haku Rd., 119a,

  Princeville, Hawaii 96722.

The Company is in the development stage and has not yet generated significant

recurring revenue from commercial operations. Our activities during the

reporting period have primarily consisted of engineering design, laboratory and

early-stage validation work related to our modular Microbial Electrolysis Device

("MED"), as well as business planning, partner engagement, and preparation for a

planned demonstration project.

The MED is being developed as a modular system designed to integrate with

existing anaerobic digesters with the objective of increasing methane production

by improving the conversion of soluble chemical oxygen demand ("sCOD") and

enabling higher organic loading rates. The Company's current efforts are focused

on refining system design, validating performance assumptions, and advancing

toward initial commercial-scale deployment.

As of the date of this report, the Company's assets consist primarily of its

technology designs, early-stage development work, and relationships with

prospective partners, including municipalities and other potential end users.

The Company has not yet completed a full-scale commercial deployment of its

technology.

The Company expects its initial target market to include municipal wastewater

treatment facilities, with potential future applications in Industrial and

agricultural digester systems. The market for RNG and waste-to-energy solutions

is competitive and includes established engineering firms, equipment

manufacturers, and project developers, many of which have greater financial and

operational resources than the Company.

The Company's ability to commence commercial operations is dependent on a number

of factors, including successful completion of its development activities,

validation of system performance, securing financing, entering into customer and

partner agreements, and obtaining any required regulatory approvals. There can

be no assurance that the Company will be successful in achieving these

objectives or in generating sustainable revenues. Accordingly, the Company

remains subject to significant risks associated with early-stage technology

development and commercialization.

  Business Plan:

  GELF Energy Corp. intends to develop and commercialize clean energy solutions,

  with an initial focus on distributed and community-scale projects designed to

  reduce reliance on fossil fuels and improve energy resiliency. Our business

  plan centers on identifying sites and partners where our technologies and

  services can provide measurable energy cost savings, lower carbon emissions,

  or improved grid stability. We plan to advance projects from early feasibility

  and design through implementation and ongoing operations, either directly or

  through partnerships and joint ventures.

Over the next 12-24 months, our strategy is to (i) complete technical and

economic feasibility assessments for our initial priority projects; (ii) secure

required permits, interconnection approvals, and other regulatory clearances;

(iii) enter into pilot agreements or letters of intent with host customers and

strategic partners; and (iv) begin limited-scale deployment of our solutions to

demonstrate performance and refine our commercial model. We may engage

third-party engineering, procurement, and construction firms and other

specialized consultants where needed. We also expect to continue refining our

proprietary processes, project evaluation tools, and commercial terms based on

pilot results and market feedback.

Our growth strategy includes pursuing additional capital to fund project

development costs, equipment purchases, and working capital, including through

Regulation Crowdfunding and other exempt or registered offerings, as permitted

by applicable securities laws. We expect to prioritize projects and markets that

align with current and anticipated regulatory frameworks, incentive programs,

and environmental compliance requirements, and we will monitor changes in

federal, state, and local laws that could affect the timing, cost, or

feasibility of our business plan. Our ability to execute this strategy will

depend on factors such as access to capital, the availability and cost of key

components and services, regulatory approvals, and the pace of customer adoption

of clean energy solutions.

  Use of Proceeds Update:

  The proceeds from the Company's crowdfunding offering were used primarily to

  fund development and preliminary engineering of its microbial electrolysis

  device ("MED"), as well as to cover a portion of legal and marketing expenses.

  During the reporting period, these expenditures supported continued

  advancement of the Company's technology, contributed to securing a project

  demonstration site, and supported the expansion of the Company's management

  team.

  Target Market: The Company's initial target market consists of municipal

  wastewater treatment facilities and other municipalities pursuing

  waste-to-renewable natural gas ("RNG") initiatives.

  Competitive Advantages: The Company believes its microbial electrolysis device

  ("MED") may enable increased renewable natural gas ("RNG") production from

  existing anaerobic digesters without requiring expansion of digester capacity,

  with internal testing indicating the potential for significant increases in

  methane yield.

  =========================================

  ITEM 3. RISK FACTORS

  =========================================

  The Company is an early-stage development business with a limited operating

  history and has not yet generated significant recurring revenue. Our ability

  to continue as a going concern depends on successfully completing technology

  development, demonstrating the performance of our microbial electrolysis

  device ("MED") at commercial scale, and securing additional capital. There can

  be no assurance that our MED will perform as expected under real-world

  conditions, that demonstration projects will be successful, or that

  municipalities or other potential customers will adopt our solution at a scale

  sufficient to support our business. If we are unable to validate performance,

  achieve commercial deployment, or obtain adequate financing on acceptable

  terms, investors could lose all or a substantial portion of their investment.

Our business model depends in part on the growth and stability of the renewable

natural gas ("RNG") and waste-to-energy markets, as well as the continued

availability of supportive regulatory frameworks and incentives. Changes in

federal, state, or local laws, regulations, or policies--including reductions or

eliminations of tax credits, renewable portfolio standards, carbon reduction

programs, or RNG procurement mandates--could materially reduce the economic

attractiveness of our solution. In addition, wastewater treatment and other

municipal facilities are subject to complex environmental and public health

regulations. Changes to standards governing anaerobic digestion, biogas

handling, effluent quality, or related processes could delay, increase the cost

of, or prevent deployment of our systems.

We operate in a competitive industry that includes established engineering

firms, equipment manufacturers, and project developers with substantially

greater financial, technical, and operational resources, as well as established

customer relationships. Competing technologies or process improvements may

reduce demand for, or the perceived value of, our MED solution. We also rely on

third-party engineering, procurement, and construction ("EPC") firms and other

specialized consultants for key aspects of project design and implementation.

This reliance exposes us to risks of delays, cost overruns, performance

shortfalls, and contractual disputes, which could adversely affect our

operations and financial condition.

Our target customers include municipal wastewater treatment facilities and other

public-sector entities, which typically involve lengthy and highly regulated

procurement processes and are subject to political, budgetary, and

administrative constraints. Project timelines may be extended and uncertain, and

approvals may be delayed, modified, or withdrawn. In addition, we operate with a

limited number of personnel and depend on key management and technical staff.

The loss of key individuals, difficulty in recruiting or retaining qualified

personnel, or operational challenges associated with our geographic location

could adversely affect our ability to execute our business plan. Because our

assets consist primarily of early-stage technology and business relationships,

and we do not yet have a diversified base of operating projects, setbacks in a

limited number of demonstration or initial commercial deployments could have a

disproportionate adverse effect on our business and on the value of an

investment in the Company.

  Material Changes to Risk Factors:

  Since the Company's last filing, it has continued to advance development of

  its microbial electrolysis device ("MED") and has progressed toward securing a

  demonstration project. While these developments represent progress, they do

  not eliminate the risks previously disclosed. The Company continues to face

  risks related to technology performance at commercial scale, the need for

  additional capital, and uncertainties associated with customer adoption and

  regulatory conditions. No other material changes to previously disclosed risk

  factors have been identified.

  =========================================

  ITEM 4. EXEMPTION RELIED UPON

  =========================================

  Exemption: Regulation Crowdfunding

  Intermediary/Funding Portal: StartEngine Capital, LLC

  Target Offering Amount: 10000.00

  Amount Sold:

  Offering Closing Date: 07-07-2023

  =========================================

  ITEM 5. DIRECTORS, OFFICERS & KEY PERSONNEL

  =========================================

  Name: Brett Danson

  Title: CEO, Principal Executive Officer and Director, Principal Financial

  Officer and Principal Accounting Officer

  Background: Brett Danson serves as Chief Executive Officer of the Company. Mr.

  Danson has more than 30 years of experience in finance and business

  operations. Over the past decade, he has focused on the water, wastewater, and

  renewable energy industries, including work related to waste-to-energy systems

  and anaerobic digestion. His experience includes involvement in project

  development, capital raising, and strategic planning for technology-driven

  ventures.

  Compensation: The Company compensates Mr. Danson primarily through

  equity-based compensation and does not currently provide a cash salary.

  Significant Changes:

  Since the Company's last filing, it has made changes to its management team,

  including the addition of executive personnel to support ongoing development

  and business operations. This includes C-Suite executives CFO, CTO, and COO:

  Management Team

Brett Danson - Chief Executive Officer

Mr. Danson has over 30 years of experience in finance and more than 10 years in

renewable energy and waste-to-energy systems.

Brian Chase - Chief Operating Officer

Mr. Chase previously served as General Manager of Chevron's New Fuels Division

and has over 20 years of operational experience.

Sajed Delagah - Chief Technology Officer

Mr. Delagah has over 20 years of experience in water and wastewater engineering,

including prior work with the Bureau of Reclamation.

Ali Jamal - Chief Financial Officer

Mr. Jamal has over 20 years of experience in finance, including prior consulting

experience with Goldman Sachs, with a focus on renewable energy, oil, and gas.

John Sabo - Sr. VP.

Professor, School of Science and Engineering, Tulane University.

  =========================================

  ITEM 6. PRINCIPAL SHAREHOLDERS (20%+)

  =========================================

  GELF Sciences, Inc. -- 40.3 -- Investor

Brett Danson -- 25.6 -- Founder

John Sabo -- 25.6 -- Founder

  Changes:

  None

  =========================================

  ITEM 7. FINANCIAL STATEMENTS

  =========================================

  Audit Status:

                                MRFY              PFY

  Total Assets:                 5744    4444

  Cash & Equivalents:           1.72    -101

  Accounts Receivable:          0    0

  Short-term Debt:              0    0

  Long-term Debt:               0    0

  Revenue / Sales:              0    0

  Cost of Goods Sold:           0    0

  Taxes Paid:                   0    0

  Net Income:                   -5268    -1994

  Notes to Financial Statements:

  =========================================

  ITEM 8. INDEBTEDNESS

  =========================================

  Total Debt: 0

  Material Changes:

  none

  =========================================

  ITEM 9. ANNUAL UPDATE & MATERIAL EVENTS

  =========================================

  Significant Changes & Milestones:

  During the reporting period, the Company continued to operate as an

  early-stage development enterprise and did not commence full-scale commercial

  operations. There were no fundamental changes to the Company's business model,

  target market, or overall strategy as previously described in its Form C

  offering materials. GELF Energy Corp. remains focused on the development and

  commercialization of its modular Microbial Electrolysis Device ("MED") to

  enhance renewable natural gas ("RNG") production from anaerobic digestion

  systems, with an initial emphasis on municipal wastewater treatment

  facilities.

The most significant operational developments during the reporting period

related to advancement of the MED technology and early commercialization

preparation. The Company used a substantial portion of its crowdfunding proceeds

to support engineering design work, laboratory and early-stage validation

activities, and preliminary commercial planning. These efforts contributed to

refining system design parameters, validating key performance assumptions at a

development-stage level, and furthering arrangements for a demonstration project

site. The Company also expanded its management and advisory resources to support

technical development, partner engagement, and regulatory and project evaluation

activities.

From a strategic and regulatory standpoint, the Company continued to evaluate

federal, state, and local regulatory frameworks relevant to RNG production,

wastewater treatment, and distributed energy projects. This included assessing

permitting, interconnection, and environmental compliance pathways for the

planned demonstration project and anticipated future commercial deployments.

While these activities did not result in any material change to the Company's

core business plan, they represent important steps toward potential commercial

deployment. The Company has not entered into any long-term revenue-generating

customer contracts as of the end of the reporting period, and there have been no

mergers, acquisitions, dispositions of significant assets, or other corporate

restructurings that would be considered significant changes for purposes of

Regulation Crowdfunding.

  Material Events:

  During the reporting period, there were no events that the Company believes

  meet the definition of a "material change" for purposes of Regulation

  Crowdfunding and 17 C.F.R. Section  227.201(s), such as a fundamental change

  in the nature of our business, a material change in our capital structure, or

  the entry into or termination of a material financing or commercial agreement

  that would be likely to affect an investor's assessment of the Company or the

  value of their investment.

The Company continued to advance development of its microbial electrolysis

device ("MED"), including engineering, laboratory validation, and planning for a

demonstration project, and used proceeds from its Regulation Crowdfunding

offering consistent with the intended purposes previously disclosed. These

activities reflect the ongoing execution of our business plan and were not, in

management's view, individually or collectively so significant as to constitute

material changes requiring the filing of a Form C-U or an amended Form C during

the reporting period.

Investors should note that the Company remains an early-stage development

company, with its ability to progress toward commercial operations dependent on

factors such as technology performance, financing, and partner and customer

arrangements, as described elsewhere in this report. Management will continue to

monitor for and disclose any future material events or changes in accordance

with Regulation Crowdfunding requirements.

  Going Concern / Liquidity:

  The Company is an early-stage technology developer and has not yet generated

  operating revenue. As such, its ability to continue as a going concern is

  dependent upon its ability to secure additional capital and successfully

  commercialize its technology.

To date, the Company has operated with minimal overhead. There are currently no

outstanding loans or debt obligations. Members of the executive team have

contributed services in exchange for future equity compensation, and operating

expenses have been funded directly by the founders. All current obligations have

been satisfied as they come due.

The Company's cash requirements remain relatively modest in the near term and

consist primarily of maintaining intellectual property protections (including

annual patent-related expenses) and limited administrative costs. These expenses

are not expected to materially impact liquidity in the short term.

However, the Company will require significant additional capital to advance its

technology to full commercial deployment. The Company is currently seeking

approximately $10 million in funding to support a commercial demonstration

project at the City of Mesa's Northwestern Water Reclamation Plant. This project

is expected to advance the Company's technology readiness level (TRL) from

approximately TRL 6 to potentially TRL 9, subject to successful demonstration

outcomes and approval for continued deployment by the City.

The Company's strategy to address its liquidity needs includes raising capital

through private investment, including but not limited to equity financing beyond

crowdfunding. Future expansion plans, including scaling manufacturing and

broader market deployment, will be contingent upon the Company's ability to

secure such funding.

There can be no assurance that the Company will be successful in raising

additional capital on acceptable terms, or at all. If adequate funding is not

secured, the Company may be required to delay, scale back, or discontinue

certain development and commercialization activities.

  Additional Disclosures:

  None

  =========================================

  ATTESTATION

  =========================================

  The issuer hereby certifies that the information contained in this Form C-AR

  is true, correct, and complete in all material respects to the best of the

  issuer's knowledge and belief.

  Principal Executive Officer: Brett Danson

  Title: Chief Executive Officer

  Date: 2026-04-10

  Filed on behalf of: GELF Energy Corp.

  ---

  DISCLAIMER: This document was prepared using FormCAR, a compliance drafting

  tool. FormCAR does not provide legal advice. The issuer is solely responsible

  for the accuracy and completeness of this filing. Consult a qualified

  securities attorney before submitting to the SEC.

```

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM C

### UNDER THE SECURITIES ACT OF 1933

### Issuer Information

**Name of Issuer:** Gelf Energy Corp

**Legal Status:** Corporation

**Jurisdiction of Incorporation/Organization:** DE

**Date of Organization:** 12-09-2020

**Physical Address:** 5301 KA HAKU RD., 119A, PRINCEVILLE, HI, 96722

**Issuer Website:** www.gelfenergy.com

**Is there a Co-Issuer?:** No

### Annual Report Disclosure Requirements

**Current Number of Employees:** 5.00

**Total Assets (Most Recent Fiscal Year):** $5,744.00

**Total Assets (Prior Fiscal Year):** $4,444.00

**Cash & Cash Equivalents (Most Recent Fiscal Year):** $1.72

**Cash & Cash Equivalents (Prior Fiscal Year):** $-100.89

**Accounts Receivable (Most Recent Fiscal Year):** $0.00

**Accounts Receivable (Prior Fiscal Year):** $0.00

**Short-Term Debt (Most Recent Fiscal Year):** $0.00

**Short-Term Debt (Prior Fiscal Year):** $0.00

**Long-Term Debt (Most Recent Fiscal Year):** $0.00

**Long-Term Debt (Prior Fiscal Year):** $0.00

**Revenues/Sales (Most Recent Fiscal Year):** $0.00

**Revenues/Sales (Prior Fiscal Year):** $0.00

**Cost of Goods Sold (Most Recent Fiscal Year):** $0.00

**Cost of Goods Sold (Prior Fiscal Year):** $0.00

**Taxes Paid (Most Recent Fiscal Year):** $0.00

**Taxes Paid (Prior Fiscal Year):** $0.00

**Net Income (Most Recent Fiscal Year):** $-5,267.55

**Net Income (Prior Fiscal Year):** $-1,794.48

### Signatures

**Issuer:** Gelf Energy Corp

**Signature:** Brett Danson

**Title:** CEO

---

**Signature:** Brett Danson

**Title:** CEO

**Date:** 05-11-2026