Infinite Group Inc 2024年度报告

FORM10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year endedDecember 31, 2024 Commission File Number0-21816 Infinite Group, Inc. 175 Sully’s Trail,Suite 202Pittsford,NY14534(585)385-0610ADelawareCorporationIRS Employer Identification Number:52-1490422 Securities registered pursuant to Section 12(b) of the Act 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 SecuritiesExchange 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 submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit and post such files). Yes☐No☒ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying 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 effectivenessof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registeredpublic accounting firm that prepared or issued its audit report.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes☐No☒ The aggregate market value of the common stock of the registrant held by non-affiliates of the registrant (based upon the closing priceon the Over the Counter Bulletin Board of $1.10 on June 30, 2023 the last business day of the registrant’s most recently completedsecond fiscal quarter) was approximately $557,300. As of October 21, 2025,521,175shares of the registrant's common stock, $.001 par value, were outstanding. TABLE OF CONTENTS Page PART I Item 1.Business4Item 1A.Risk Factors14Item 1B.Unresolved Staff Comments25Item 1C.Cybersecurity25Item 2.Properties25Item 3.Legal Proceedings25Item 4.Mine Safety Disclosures25 PART II Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of EquitySecurities26Item 6.[Reserved]26Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations26Item 7A.Quantitative and Qualitative Disclosures About Market Risk35Item 8.Financial Statements and Supplementary Data35Item 9.Changes in and Disagreements With Accountants on Accounting and Financial Disclosure35Item 9A.Controls and Procedures35Item 9B.Other Information35Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections35 PART III. Item 10.Directors, Executive Officers and Corporate Governance36Item 11.Executive Compensation37Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters38Item 13.Certain Relationships and Related Transactions, and Director Independence41Item 14.Principal Accountant Fees and Services42 PART IV. Item 15.Exhibits and Financial Statement Schedules43Item 16.Form 10-K Summary46 FORWARD LOOKING STATEMENT INFORMATION Certain statements made in this Annual Report on Form 10-K are “forward-looking statements” regarding the plans and objectives ofmanagement for future operations and market trends and expectations. Such statements involve known and unknown risks,uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from anyfuture results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statementsincluded herein are based on current expectations that involve numerous risks and uncertainties. Our plans and objectives are based, inpart, on assumptions involving the expansion of our business. Assumptions relating to the foregoing involve judgments with respect to,among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult orimpossible to predict accurately a