Attached files
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EX-32 - EX-32.1 SECTION 906 CERTIFICATION - BlackRidge Technology International, Inc. | grotemolen10ka123110ex321.htm |
EX-31 - EX-31.1 SECTION 302 CERTIFICATION - BlackRidge Technology International, Inc. | grotemolen10ka123110ex311.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form 10-K/A
(Amendment No. 1)
(Mark One)
X . ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2010.
. TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _______________ to _______________.
Commission file number 0-18958
GROTE MOLEN, INC.
(Exact name of registrant as specified in charter)
NEVADA |
| 20-1282850 |
(State or other jurisdiction of incorporation or organization) |
| (IRS Employer Identification No.) |
322 West Griffith Road, Pocatello, Idaho |
| 83201 |
(Address of principal executive offices) |
| (Zip Code) |
Registrants telephone number, including area code: (208) 234-9352
Securities registered under Section 12(b) of the Act: None
Securities registered under Section 12(g) of the Exchange Act: Common Stock, $0.001 Par Value
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes . No X .
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes . No X .
Note Checking the box above will not relieve any registrant required to file reports pursuant to Section 13 or 15(d) of the Exchange Act from their obligations under those Sections.
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 past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X . No .
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted 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 and post such files). Yes . No .
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (22.405 of this chapter) is not contained herein, and will not be contained, to the best of registrants knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K .
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of large accelerated filer, accelerated filer and smaller reporting company in Rule 12b-2 of the Exchange Act.
Large accelerated filer | . | Accelerated filer | . |
Non-accelerated filer | . (Do not check if a smaller reporting company) | Smaller reporting company | X . |
Indicate by check mark whether the issuer is a shell company (as defined in rule 12b-2 of the Exchange Act). Yes . No X .
State the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was sold, or the average bid and asked price of such common equity, as of the last business day of the registrants most recently completed second fiscal quarter.
As of June 30, 2010, based on the $0.10 price at which the common equity was sold in our private placement of securities in 2009, the aggregate market value of the 3,000,000 shares held by non-affiliates was approximately $300,000.
APPLICABLE ONLY TO REGISTRANTS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PRECEDING FIVE YEARS
Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes . No .
(APPLICABLE ONLY TO CORPORATE REGISTRANTS)
Indicate the number of shares outstanding of each of the issuers classes of common stock, as of the latest practicable date.
As of March 22, 2011, there were 21,000,000 shares of the issuers common stock outstanding.
DOCUMENTS INCORPORATED BY REFERENCE
List hereunder the following documents if incorporated by reference and the part of the Form 10-K (e.g., Part I, Part II, etc.) into which the document is incorporated: (1) Any annual report to security holders; (2) Any proxy or information statement; and (3) Any prospectus filed pursuant to Rule 424(b) or (c) under the Securities Act of 1933. The listed documents should be clearly described for identification purposes (e.g., annual report to security holders for fiscal year ended December 24, 1980).
None.
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EXPLANATORY NOTE
This Amendment No. 1 on Form 10-K/A (this Amendment) amends the Annual Report on Form 10-K of Grote Molen, Inc. (the Registrant or the Company) for the fiscal year ended December 31, 2010, which the Registrant previously filed with the Securities and Exchange Commission on March 31, 2011 (the Original Filing). This Amendment is being filed to amend Items 2 and 13 of the Original Filing to reflect an increase in the management fee payable to Big Johns Store, LLC under the Idaho Management Agreement which was effective as of February 1, 2011. In addition, as required by Rule 12b-15 under the Securities Exchange Act of 1934, new certifications by the Companys principal executive officer and principal financial officer are filed as exhibits to this Amendment. This Form 10-K/A does not attempt to modify or update the disclosures in any other Items set forth in the Original Filing. This Form 10-K/A speaks as of March 31, 2011, unless otherwise noted.
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GROTE MOLEN, INC.
TABLE OF CONTENTS TO AMENDMENT NO. 1 TO
ANNUAL REPORT ON FORM 10-K/A
YEAR ENDED DECEMBER 31, 2010
PART I | ||
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Item 2. | Properties | 1 |
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PART III | ||
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Item 13. | Certain Relationships and Related Transactions, and Director Independence | 1 |
Item 15. | Exhibits, Financial Statement Schedules | 2 |
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SIGNATURES | 2 |
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Item 2. Properties.
Our offices are located at 322 West Griffith Road, Pocatello, Idaho 83201, where our telephone number is (208) 234-9352. Our facilities consist of approximately 3,000 square feet of warehouse and office space located in a building owned by Big Johns Store LLC, a company owned by John Hofman, our president, director and principal stockholder, which is shared with Big Johns, a retail store owned by Mr. Hofman. Such space is provided to us under an Idaho Management Agreement with Big Johns Store LLC pursuant to which we paid a flat rate of $9,200 per month for management services and the use of such space during 2010. Such rate was increased to $10,700 per month effective as of February 1, 2011. Such agreement is on a month-to-month basis.
Item 13. Certain Relationships and Related Transactions and Director Independence
Unless otherwise indicated, the terms of the following transactions between related parties were not determined as a result of arms length negotiations.
As of December 31, 2010, we were indebted to Bruce Crane, an officer, director and principal stockholder of the Company, in the aggregate principal amount of $194,087, which is payable in monthly installments pursuant to a promissory note maturing in 2036 and bearing interest at a rate of 6.97% per annum. As of December 31, 2010, we were also indebted to Mr. Crane in the aggregate amount of $3,500 pursuant to a demand note bearing interest at 6% per annum and in the aggregate amount of $939 pursuant to non-interest bearing advances with no formal repayment terms. As of December 31, 2010, we were indebted to John Hofman, an officer, director and principal stockholder of the Company, in the aggregate principal amount of $83,000 pursuant to demand notes bearing interest at 6% per annum and in the aggregate amount of $8,188 pursuant to non-interest bearing advances with no formal repayment terms.
Brownwick, LLC, our wholly-owned subsidiary, entered into that certain Idaho Management Agreement dated April 15, 2009, with Big Johns Store LLC, a company owned by John Hofman, our president, director and a principal stockholder, pursuant to which we pay a monthly management fee to Big Johns Store LLC to manage our day-to-day business activities and provide us with office and warehouse space. The agreement is on a month-to-month basis and can be cancelled at any time by the vote of management. We have historically paid monthly management fees in varying amounts to Big Johns Store LLC pursuant to prior agreements approved by our stockholders. The monthly fee was increased from $7,700 to $9,200 effective as of May 1, 2009 as a result of the construction of a new office/warehouse building by Big Johns Store LLC and the increase in Big Johns costs of providing such space to the Company. The monthly fee was increased to $10,700 effective as of February 1, 2011. The monthly fee will be evaluated on an annual basis to take into account any future increases in Big Johns costs of providing the warehouse/office space, however there are no plans to increase the monthly fee at this time. The total management fees paid to Big Johns Store LLC during our 2010 and 2009 fiscal years was $110,400 and $104,400, respectively. The terms of the Idaho Management Agreement are not the result of arms length negotiations.
Brownwick, LLC also pays Bruce Crane $150 per month for expense reimbursement.
Each of John Hofman and Bruce Crane, our officers, directors and principal stockholders, own retail companies that purchase grain mills and other products from the Company. Sales to these related parties totaled $82,886 and $165,314 for the years ended December 31, 2010 and 2009, respectively, or approximately 7% and 14%, respectively, of our total sales for such periods. Accounts receivable from these related parties were $13,205 and $22,957 at December 31, 2010 and 2009, respectively. Sales to these related parties are on the same terms as sales to unrelated third parties.
Director Independence
Our board of directors consists of two persons, John B. Hofman and Bruce P. Crane. Such persons are not independent within the meaning of Rule 4200(a)(15) of the NASDAQ Marketplace because they are officers and employees of the Company.
Indemnification
Our articles of incorporation provide that to the fullest extent permitted by Nevada law, now or hereafter in force, no director of the Company shall be personally liable to the Company or its stockholders for monetary damages for breach of fiduciary duty as a director. In addition, Section 78.037 of the Nevada corporation law, Article Fourteenth of our articles of incorporation, and Section VII of our bylaws generally provide for indemnification of our directors and officers in a variety of circumstances, which may include liabilities under the Securities Act of 1933, as amended. Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers, and controlling persons pursuant to the foregoing provisions, we have been informed that in the opinion of the Securities and Exchange Commission such indemnification is contrary to public policy as expressed in the Securities Act and, therefore, is unenforceable.
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Item 15. Exhibits and Financial Statement Schedules
The following documents are included as exhibits to this Amendment No. 1 on Form 10-K/A.
(a) Exhibits
Exhibit Number |
| SEC Reference Number |
| Title of Document |
| Location |
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31.1 |
| 31 |
| Section 302 Certification of Chief Executive and Chief Financial Officer |
| This Filing |
32.1 |
| 32 |
| Section 1350 Certification of Chief Executive and Chief Financial Officer |
| This Filing |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Grote Molen, Inc. |
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Dated: May 12, 2011 | By /s/ John B. Hofman |
| John B. Hofman |
| President, Secretary and Treasurer |
| (Principal Executive and Accounting Officer) |
In accordance with the Exchange Act, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
Dated: May 12, 2011
/s/ John B. Hofman
John B. Hofman
President, Secretary, Treasurer and Director
(Principal Executive and Accounting Officer)
Dated: May 12, 2011
/s/ Bruce P. Crane
Bruce P. Crane
Director
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