{"url_path":"/sec/gnolf/10-k/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-05-13","source_url":"https://www.sec.gov/Archives/edgar/data/1261002/0001654954-26-004801-index.html","accession_number":"0001654954-26-004801","cik":"0001261002","ticker":"GNOLF","issuer_name":"GENOIL INC","edgar_url":"https://www.sec.gov/Archives/edgar/data/1261002/0001654954-26-004801-index.html","primary_entity_key":"0001261002","primary_entity_name":"GENOIL 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APPROVAL\n\n \n\n**UNITED STATES**\n\nOMB Number:     3235-0288\n\n \n\n**SECURITIES AND EXCHANGE COMMISSION**\n\nExpires:   Dec.  31, 2026\n\n \n\n**WASHINGTON, D.C. 20549**\n\nEstimated average burden hours per response..2628.16\n\n \n\n**FORM 20-F**\n\n \n\n**(Mark One)**\n\n  \n\n**☐**\n**REGISTRATION********STATEMENT********PURSUANT********TO********SECTION********12(b)********OR********(g)********OFTHE********SECURITIES********EXCHANGE ACT OF 1934**\n\n \n\n**OR**\n\n \n\n**☒**\n\n**ANNUALREPORT PURSUANT TO SECTION 13 OR 15(d) OFTHE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\n \n\n \n\n**For the fiscal years ended December 31, 2025 and 2024 and 2023**\n\n \n\n**OR**\n\n \n\n**☐**\n\n**TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\n**OR**\n\n \n\n**☐**\n\n**SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\n \n\n \n\nDate of event requiring this shell company report . . . . . . . . . . . . . . . . . . .\n\n \n\n \n\n \n\n**For the transition period from                                 to                                         **\n\n \n\n \n\n \n\nCommission file number                                            \n\n \n\n**Genoil Inc.**\n\n(Exact name of Registrant as specified in its charter)\n\n \n\n**Genoil Inc.**\n\n(Translation of Registrant’s name into English)\n\n \n\n**Canada**\n\n(Jurisdiction of incorporation or organization)\n\n \n\n**4500 Bankers Hall East,**\n\n**855 - 2nd Street SW, Calgary, AB, T2P 4K7**\n\n(Address of principal executive offices)\n\n \n\n**David Lifschultz, Tel****212-688-8868,**\n\n**e-mail – david@lifschultzorganization.com**\n\n(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)\n\n \n\nSecurities registered or to be registered pursuant to Section 12(b) of the Act. **None**\n\n \n\nTitle of each class\n\nTrading Symbol(s)\n\nName of each exchange on which registered\n\n \n\n \n\n \n\n \n\nSecurities registered or to be registered pursuant to Section 12(g) of the Act.\n\n \n\n**Common Stock, Fully Paid and Non-Assessable Common Shares Without Par Value quoted on the OTC Markets Quotation System.**\n\n \n\n______________\n\n(Title of Class)\n\n \n\nSEC 1852 (05-21)\n\n**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.**\n\n \n\n______________\n\n(Title of Class)\n\n \n\nSecurities for which there is a reporting obligation pursuant to Section 15(d) of the Act. **None.**\n\n \n\n______________\n\n(Title of Class)\n\n \n\nIndicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report.\n\n \n\n**Common Shares: 2,018,347,429 as of December 31, 2025, 1,969,322,429 as of December 31, 2024 and 1,913,137,429 as of December 31, 2023.**\n\n**Preferred shares: (zero) as of December 31, 2025.**\n\n \n\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. ☐ Yes     ☒****No\n\n \n\nIf this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. ☐ Yes     ☒ No****\n\n \n\nNote – Checking the box above will not relieve any registrant required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 from their obligations under those Sections.\n\n \n\nIndicate 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\n\n \n\nIndicate 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\n\n \n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See definition of “large accelerated filer, “accelerated filer,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n \n\nLarge accelerated filer\n☐\n\nNon-accelerated filer\n\n☒\n\nAccelerated filer\n☐\n\nEmerging growth company\n\n☐\n\n \n\nIf an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, 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. ☐\n\n \n\n† The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.\n\n \n\nIndicate 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. ☒\n\n \n\nIndicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:\n\n \n\nU.S. GAAP ☒\n\nInternational Financial Reporting Standards as issued\n\nby the International Accounting Standards Board ☐\n\nOther ☐\n\n \n\nIf “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow. ☐ Item 17     ☐ Item 18\n\n \n\nIf this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes     ☒ No\n\n \n\n(APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS)\n\n \n\nIndicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. ☐ Yes    ☐ No\n\n \n\nIndicate by check mark, if securities are registered pursuant to Section 12(b) of the Act, whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐ Yes     ☐ No\n\n \n\nIndicate 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). ☐ Yes     ☒ No\n\n \n\n \n\n \n\n \n\n**Contents**\n\n \n\n \n\n \n\n[Item 1.](#I1)[Identity of Directors, Senior Management and Advisers](#I1)3\n\n \n\n \n\n \n\n[Item 2.](#I2)[Offer Statistics and Expected Timetable](#I2)3\n\n \n\n \n\n \n\n[Item 3.](#I3)[Key Information](#I3)3\n\n \n\n \n\n \n\n[Item 4.](#I4)[Genoil's Information](#I4)6\n\n \n\n \n\n \n\n[Item 5.](#I5)[Operating and Financial Review and Prospects](#I5)11\n\n \n\n \n\n \n\n[Item 6.](#I6)[Directors, Senior Management and Employees](#I6)14\n\n \n\n \n\n \n\n[Item 7.](#I7)[Major Shareholders and Related Party Transactions](#I7)19\n\n \n\n \n\n \n\n[Item 8.](#I8)[Financial Information](#I8)20\n\n \n\n \n\n \n\n[Item 9.](#I9)[The Offer and Listing](#I9)20\n\n \n\n \n\n \n\n[Item 10.](#I10)[Additional Information](#I10)22\n\n \n\n \n\n \n\n[Directors' Conflicts of Interest](#I10A)23\n\n[Borrowing Powers](#I10B)23\n\n[Directors](#I10C)23\n\n[Rights Attached to Shares](#I10D)23\n\n[Alteration of the Rights of Shareholders](#I10E)23\n\n[Shareholders' Meetings](#I10F)23\n\n[U.S. Holder of Common Shares](#I10G)25\n\n[Canadian Federal Income Tax Consequences](#I10H)27\n\n[United States Federal Income Tax Consequences](#I10I)27\n\n[Item 11.](#I11)[Quantitative and Qualitative Disclosures About Market Risk](#I11)29\n\n \n\n \n\n \n\n[Item 12.](#I12)[Description of Securities Other than Equity Securities](#I12)29\n\n \n\n \n\n \n\n[Item 13.](#I13)[Defaults, Dividends Arrearages and Delinquencies](#I13)30\n\n \n\n \n\n \n\n[Item 14.](#I14)[Material Modifications to the Rights of Security Holders and Use of Proceeds](#I14)30\n\n \n\n \n\n \n\n[Item 15.](#I15)[Controls and Procedures](#I15)30\n\n \n\n \n\n \n\n[Item 16.](#I16)[[Reserved]](#I16)31\n\n \n\n \n\n \n\n[Item A Audit Committee Financial Expert](#I16A)31\n\n[Item B Code of Ethics](#I16B)31\n\n[Item C Audit Fees](#I16C)32\n\n[Item E Share Repurchases](#I16E)\n33\n\n[Item I Disclosure Regarding Foreign Jurisdictions that Prevent Inspections](#I16I)\n\n33\n\n[Item J Insider Trading Policies](#I16J)\n\n33\n\n[Item K Cybersecurity](#I16K)\n\n33\n\n[Item 17.](#I17)[Financial Statements](#I17)34\n\n \n\n \n\n \n\n[Item 19.](#I19)[Exhibits](#I19)34\n\n \n\n \n\n2\n\n*Table of Contents*\n\n \n\n**PART I**"}