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SONO TEK CORP

For the period ended Feb 29, 2024. Filed May 23, 2024.

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About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed May 23, 2024

SOTK$4.300.0%Stored close · as of Nov 9, 2026

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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:February 29, 2024

Commission File Number:000-16035

(Name of registrant as specified in its charter)

new york14-1568099
(State or other Jurisdiction of Incorporation or Organization)(IRS Employer Identification Number)
2012 Route 9W, Milton, New York12547
(Address of Principal Executive Offices)(Zip Code)

Registrant's Telephone Number, Including Area Code:(845) 795-2020

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

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock $0.01 par valueSOTKThe Nasdaq Stock Market LLC (Capital Market)

Securities Registered Pursuant to Section 12(g) of the Act: None

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 Exchange 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 check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐ No ☑

As of August 31, 2023 the last business day of the Registrant’s most recently completed second fiscal quarter, the aggregate market value of the Registrant's Common Stock held by non-affiliates of the Registrant was approximately $72,065,185 computed by reference to the average of the bid and asked prices of the Common Stock on said date, which average was $4.84.

The Registrant had 15,750,880 shares of Common Stock outstanding as of May 17, 2024.

DOCUMENTS INCORPORATED BY REFERENCE: None.

TABLE OF CONTENTS

PART I
Item 1.Business.1
Item 1A.Risk Factors.6
Item 1B.Unresolved Staff Comments.20
Item 1C.Cybersecurity20
Item 2.Properties.20
Item 3.Legal Proceedings.20
Item 4.Mine Safety Disclosures.20
PART II
Item 5.Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.21
Item 6.[Reserved].21
Item 7.Management's Discussion and Analysis of Financial Condition and Results of Operations.21
Item 7A.Quantitative and Qualitative Disclosures about Market Risk30
Item 8.Financial Statements and Supplementary Data30
Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure30
Item 9A.Controls and Procedures.30
Item 9B.Other Information.30
Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections.30
PART III
Item 10.Directors, Executive Officers and Corporate Governance.31
Item 11.Executive Compensation.36
Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.39
Item 13.Certain Relationships and Related Transactions.41
Item 14.Principal Accountant Fees and Services.41
Item 15.Exhibits, Financial Statement Schedules42
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.