Securities registered under Section 12(g) of the Exchange Act:Common Stock, no par value

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.¨ Yesx No

Indicate by check mark if the issuer is not required to file reports pursuant to Section 13 or 15(d) of the Exchange ~~Act~~Act.¨ Yesx No

Indicate by check mark whether the issuer (1) 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.

Indicate by check mark if disclosure of delinquent filers in response to Item 405 of Regulation S-K is not contained in this form, and no disclosure will be contained, to the best of registrant's 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.x

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting ~~company, or an emerging growth~~ company. See the ~~definitions~~definition of “large accelerated filer,” “accelerated ~~filer,”~~filer” and “smaller reporting ~~company,” and “emerging growth~~ company” in Rule 12b-2 of the Exchange Act. (Check one):

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 is a Shell Company (as defined in Rule 12b-2 of the Exchange Act).x Yes¨ No

The aggregate market value of the voting stock held by non-affiliates as of June 30, ~~2017,~~2019, the last day of the Registrant’s second quarter, computed by referenceto the closing price of such stock on such date as quoted on the OTCBB, was approximately ~~$99,000.~~$148,000. For purposes of this computation only, all executive officers, directors, and beneficial owners of more than 10% of the outstanding Common Stock, are assumed to be affiliates.

The number of shares outstanding of the issuer's Common Stock on March 27, ~~2018~~2020 was ~~16,141,303.~~17,195,683.

This Annual Report on Form 10-K contains certain forward-looking statements, including information about or related to our future results, certain projections and business trends. We intend for our forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and are including this statement for purposes of invoking these safe harbor provisions.

Assumptions relating to forward-looking statements involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond our control. When used in this report, the words “believes,” “anticipates,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” “may,” “should,” “would,” “projects,” “predicts,” “continues,” and similar expressions or the negative of these terms constitute forward-looking statements that involve risks and uncertainties are intended to identify forward-looking statements.

Although we believe that our assumptions underlying our forward-looking statements are reasonable, any or all of the assumptions could prove inaccurate, and we may not realize the results contemplated by our forward-looking statements. Indeed, because our forward-looking statements are not historical facts, are based largely upon our current expectations and assumptions, and are subject to a number of risks and uncertainties, our actual results could differ materially from those contemplated by such forward-looking statements. Moreover, management decisions are subjective in many respects and susceptible to interpretations and periodic revisions based upon actual experience and business developments, the impact of which may cause us to alter our business strategy or capital expenditure plans that may, in turn, cause our actual results to differ materially from those contemplated by our forward-looking statements.

We cannot assure you that we will be successful in our efforts to acquire an operating business or that any such acquisition will result in our future profitability. Our failure to successfully acquire an operating business could have a material adverse effect on the market price of our common stock and our business, financial condition and results of operations.

In light of the significant uncertainties inherent in the forward-looking information included in this report, you should not regard the inclusion of such information as our representation that we will achieve any strategy, objectives or other plans. The forward-looking statements contained in this report speak only as of the date of this report, and we have no obligation to update publicly or revise any of these forward-looking statements, even if new information becomes available or other events occur.

Prior to April 1, 2004, Sandston Corporation was named Nematron Corporation (“Nematron” or the “Company”), which was incorporated in Michigan in October 1983. In 1986, Nematron became a wholly owned subsidiary of Interface Systems, Inc. ("Interface"). The former business of Nematron was the design, manufacture and marketing of factory automation products, including computer hardware and software products. On March 31, 2004 Nematron sold to NC Acquisition Corp. ("NCAC") all of its tangible and intangible assets, including its real estate, accounts, equipment, intellectual property, inventory, goodwill and other intangibles, and all subsidiaries except for $30,000 in cash, (the "Net Asset Sale"). NCAC also assumed all of Nematron’s liabilities pursuant to the Net Asset Sale. Following the Net Asset Sale, Nematron’s only remaining assets were $30,000 in cash; it retained no liabilities. Pursuant to the Net Asset Sale, and effective April 1, 2004, the Company has no subsidiaries. On April 1, 2004 NCAC amended its Articles of Incorporation to change its name to Sandston Corporation (the “Company”) and implemented a shareholder-approved one-for-five reverse stock split of the Company’s common stock. Also, on April 1, 2004 the Company sold a total of 5,248,257 post-split shares to Dorman Industries, LLC (“Dorman Industries”) for $50,000. Dorman Industries is a Michigan limited liability company wholly owned by Mr. Daniel J. Dorman, who became the Company’s Chairman of the Board, CEO, and President following such stock purchase. By virtue of its purchase of common stock, Dorman Industries became the owner of 62.50% of the outstanding common stock of the Company, and currently is the beneficial owner of ~~65.63%~~67.73% of the Company’s outstanding common stock. Patricia A. Dorman, Mr. Dorman’s wife, is the beneficial owner of an additional ~~3.72%~~3.49% of the Company’s outstanding common stock.

The Company intends to build long-term shareholder value by acquiring and/or investing in and operating strategically positioned companies. The Company expects to target companies in multiple industry groups. The Company has yet to acquire, or enter into an agreement to acquire, any company or business operations. See Item 1A. Risk Factors.

The Company's principal executive offices are located at1496 Business Park Drive, Suite A, Traverse City, Michigan 49868, and its telephone number is (248) 723-3007.

The business of the Company since April 1, 2004 includes only its consideration of various investment opportunities and incurring administrative expenses related to legal, accounting and administrative activities. The Company has had no revenue generating activities since April 1, 2004, nor has it had any employees since that date. The administrative activities of the Company are performed by the Chairman, who also serves as the CEO, President and Principal Financial Officer. Direct administrative expenses of the Company totaled ~~$18,578~~$20,420 and ~~$20,967~~$19,874 for the years ended December 31, ~~2017~~2019 and ~~2016,~~2018, respectively.

In addition to other information in this Annual Report on Form 10-K, the following risk factors should be carefully considered in evaluating our business because such factors may have a significant impact on our business, operating results, liquidity and financial condition. As a result of the risk factors set forth below, actual results could differ materially from those projected in any forward-looking statements. Additional risks and uncertainties not presently known to us, or that we currently consider to be immaterial, may also impact our business, operating results, liquidity and financial condition. If any of the following risks occur, our business, operating results, liquidity and financial condition could be materially adversely affected. In such case, the trading price of our securities could decline, and you may lose all or part of your investment.

WE HAVE HAD NO OPERATING HISTORY SINCE APRIL 2004 AND NO REVENUES OR EARNINGS FROM OPERATIONS SINCE APRIL 2004

We have had no operations, revenues, or earnings since April 2004. We have no material assets. We will, in all likelihood, sustain operating expenses without corresponding revenues, at least until the consummation of a business combination. This may result in us incurring a net operating loss that will increase continuously until we can consummate a business combination with a profitable business entity. There is no assurance that we can continue financing our administrative expenses out of available funds or that we will be able to raise additional funds to cover any shortfall. There is no assurance that we can identify such a business entity and consummate such an agreement or combination.

WE WILL HAVE NO OPERATING HISTORY AND THEREFORE WE WILL BE SUBJECT TO THE RISKS INHERENT IN ESTABLISHING A NEW BUSINESS

We have not identified what our new line of business will be; therefore, we cannot fully describe the specific risks presented by such business. It is likely that we will have had no operating history in the new line of business and it is possible that the target company may have a limited operating history in its business. Accordingly, there can be no assurance that our future operations will generate operating or net income, and as such our success will be subject to the risks, expenses, problems and delays inherent in establishing a new line of business for us. The ultimate success of such new business cannot be assured.

WE MAY BE UNABLE TO SUCCESSFULLY IDENTIFY AND ACQUIRE A SUITABLE MERGER PARTNER OR ACQUISITION CANDIDATE

We are pursuing a strategy of identifying suitable merger partners and acquisition candidates that will serve as a platform company. Although we are not targeting specific business industries for potential acquisitions, we plan to seek businesses with operations and free cash flow, experienced management teams, and operations in markets offering significant growth opportunities. In identifying, evaluating and selecting a target business for a potential acquisition, we expect to encounter intense competition from other entities having a business objective similar to ours including other blank check companies, private equity groups, venture capital funds, leveraged buyout funds, and operating businesses seeking strategic acquisitions. Many of these entities are well-established and have extensive experience identifying and effecting business combinations directly or through affiliates. Moreover, many of these competitors possess greater financial, technical, human and other resources than us which will give them a competitive advantage in pursuing the acquisition of certain target businesses. We may not be able to successfully identify such a business, obtain financing for such acquisition, or successfully operate any business that we identify. We have been working without success since April 2004 to identify a suitable merger partner and consummate an acquisition.

Even if we identify an appropriate acquisition opportunity, we may be unable to negotiate favorable terms for that acquisition. We may be unable to select, manage or absorb or integrate any future acquisitions successfully. Any acquisition, even if effectively integrated, may not benefit our stockholders. Any acquisitions that we attempt or complete may involve a number of unique risks including: (i) executing successful due diligence; (ii) our exposure to unforeseen liabilities of acquired companies; and (iii) our ability to integrate and absorb the acquired company successfully. We may be unable to address these problems successfully. Our failure to consummate a business combination with a profitable business entity could have a material adverse effect on the market price of our common stock and our business, financial condition and results of operations.

WE WILL INCUR SIGNIFICANT COSTS IN CONNECTION WITH OUR EVALUATION OF SUITABLE MERGER PARTNERS AND ACQUISITION CANDIDATES

As part of our plan to acquire or invest in strategically positioned companies, our management is seeking, analyzing and evaluating potential acquisition and merger candidates. We have incurred and will continue to incur significant costs, such as due diligence and legal and other professional fees and expenses, as part of these efforts. Notwithstanding these efforts and expenditures, we cannot give any assurance that we will identify an appropriate acquisition opportunity in the near term, or at all.

SINCE WE HAVE NOT YET SELECTED A PARTICULAR INDUSTRY OR TARGET BUSINESS TO ACQUIRE, YOU WILL BE UNABLE TO CURRENTLY ASCERTAIN THE MERITS OR RISKS OF THE INDUSTRY OR BUSINESS IN WHICH WE MAY ULTIMATELY OPERATE

Because we may consummate a merger or acquisition with a company in any industry and are not limited to any particular type of business there is no current basis for you to evaluate the possible merits or risks of the particular industry in which we may ultimately operate or the target business which we may ultimately acquire. If we complete a merger or acquisition with an entity in an industry characterized by a high level of risk, we may be affected by the currently unascertainable risks of that industry. Although our management will endeavor to evaluate the risks inherent in a particular industry or target business, we cannot assure you that we will properly ascertain or assess all of the significant risk factors. Even if we properly assess those risks, some of them may be outside of our control or ability to affect. We also cannot assure you that an investment in our securities will not ultimately prove to be less favorable to our stockholders than a direct investment, if an opportunity were available, in a target business.

THE REPORTING REQUIREMENTS UNDER RULES ADOPTED BY THE SECURITIES AND EXCHANGE COMMISSION RELATING TO SHELL COMPANIES MAY DELAY OR PREVENT US FROM MAKING CERTAIN ACQUISITIONS

The reporting requirements under federal securities law may delay or prevent us from making certain acquisitions.

Sections 13 and 15(d) of the Securities Exchange Act of 1934, as amended, require companies subject thereto to provide certain information about significant acquisitions, including certified financial statements for the company acquired, covering one, two, or three years, depending on the relative size of the acquisition. The time and additional costs that may be incurred by some target entities to prepare such statements may significantly delay or essentially preclude consummation of an otherwise desirable acquisition by us. Acquisition prospects that do not have or are unable to obtain the required audited statements may not be appropriate for acquisition so long as the reporting requirements of the Exchange Act are applicable.

In addition to the audited financial statements, in the filing of the Form 8-K that we file to report an event that causes us to cease being a shell company, we will be required to include that information that is normally reported by a company in a Form 10 or Form 10-K. The extensive registration-level information includes a detailed description of a company’s business and properties, management, executive compensation, related party transactions, legal proceedings and historical market price information, as well as audited historical financial statements and management’s discussion and analysis of results of operations. The revised Form 8-K rules also require a shell company to file pro forma financial statements giving effect to the acquisition not later than four business days after completion of the acquisition, instead of 75 days as required by non-shell companies. The time and additional costs that may be incurred by some target entities to prepare and disclose such information may significantly delay or essentially preclude consummation of an otherwise desirable acquisition by us. The time and additional costs that may be incurred by some acquisition prospects to prepare such detailed disclosures and obtain audited financial statements may significantly delay or essentially preclude consummation of an otherwise desirable acquisition by us, or deter potential targets from negotiating with us.

OUR ABILITY TO BE SUCCESSFUL AFTER AN ACQUISITION MAY BE DEPENDENT UPON THE CONTINUED EFFORTS OF OUR MANAGEMENT TEAM AND KEY PERSONNEL WHO MAY JOIN US FOLLOWING SUCH ACQUISITION

The role of our management team and key personnel from the target business we acquire cannot presently be ascertained. While we intend to closely scrutinize any individuals we engage after a redeployment of our assets, we cannot assure you that our assessment of these individuals will prove to be correct. These individuals may be unfamiliar with the requirements of operating a public company which could cause us to have to expend time and resources helping them become familiar with such requirements. This could be expensive and time-consuming and could lead to various regulatory issues which may adversely affect our operations.

AS A RESULT OF AN ACQUISITION WE MAY BE REQUIRED TO SUBSEQUENTLY TAKE WRITE-DOWNS OR WRITE-OFFS, RESTRUCTURING, AND IMPAIRMENT OR OTHER CHARGES THAT COULD HAVE A SIGNIFICANT NEGATIVE EFFECT ON OUR FINANCIAL CONDITION, RESULTS OF OPERATIONS AND OUR STOCK PRICE, WHICH COULD CAUSE YOU TO LOSE SOME OR ALL OF YOUR INVESTMENT

We must conduct a due diligence investigation of the target businesses we intend to acquire. Intensive due diligence is time consuming and expensive due to the operations, accounting, finance and legal professionals who must be involved in the due diligence process. Even if we conduct extensive due diligence on a target business with which we combine, we cannot assure you that this diligence will reveal all material issues that may affect a particular target business, or that factors outside the control of the target business and outside of our control will not later arise. If our diligence fails to identify issues specific to a target business, industry or the environment in which the target business operates, we may be forced to later write-down or write-off assets, restructure our operations, or incur impairment or other charges that could result in our reporting losses. Even though these charges may be non-cash items and not have an immediate impact on our liquidity, the fact that we report charges of this nature could contribute to negative market perceptions about us or our common stock. In addition, charges of this nature may cause us to violate net worth or other covenants to which we may be subject as a result of assuming pre-existing debt held by a target business or by virtue of our obtaining post-combination debt financing.

WE MAY BE UNABLE TO REALIZE THE BENEFITS OF OUR NET OPERATING LOSS (“NOL”) CARRYFORWARDS

NOLs may be carried forward to offset federal and state taxable income in future years and eliminate income taxes otherwise payable on such taxable income, subject to certain adjustments. Based on current federal corporate income tax rates, our NOL carryforwards could provide a benefit to us, if fully utilized, of significant future tax savings. However, our ability to use these tax benefits in future years will depend upon the amount of our otherwise taxable income. If we do not have sufficient taxable income in future years to use the tax benefits before they expire, we will lose the benefit of these NOL carryforwards permanently. Consequently, our ability to use the tax benefits associated with our substantial NOL will depend significantly on our success in identifying suitable merger partners and/or acquisition candidates, and once identified, successfully consummate a merger with and/or acquisition of these candidates.

Additionally, if we underwent an ownership change, the NOL carryforward limitations would impose an annual limit on the amount of the taxable income that may be offset by our NOL generated prior to the ownership change. If an ownership change were to occur, we may be unable to use a significant portion of our NOL to offset taxable income. In general, an ownership change occurs when, as of any testing date, the aggregate of the increase in percentage points of the total amount of a corporation’s stock owned by “5-percent stockholders” within the meaning of the NOL carryforward limitations whose percentage ownership of the stock has increased as of such date over the lowest percentage of the stock owned by each such “5-percent stockholder” at any time during the three-year period preceding such date is more than 50 percentage points. In general, persons who own 5% or more of a corporation’s stock are “5-percent stockholders,” and all other persons who own less than 5% of a corporation’s stock are treated together as a public group.

The amount of NOL carryforwards that we have claimed has not been audited or otherwise validated by the U.S. Internal Revenue Service (the “IRS”). The IRS could challenge our calculation of the amount of our NOL or our determinations as to when a prior change in ownership occurred and other provisions of the Internal Revenue Code may limit our ability to carry forward our NOL to offset taxable income in future years. If the IRS was successful with respect to any such challenge, the potential tax benefit of the NOL carryforwards to us could be substantially reduced.

IF WE EFFECT AN ACQUISITION OR MERGER WITH A COMPANY LOCATED OUTSIDE OF THE UNITED STATES, WE WOULD BE SUBJECT TO A VARIETY OF ADDITIONAL RISKS THAT MAY NEGATIVELY IMPACT OUR OPERATIONS

We may effect an acquisition or merger with a company located outside of the United States. If we did, we would be subject to any special considerations or risks associated with companies operating in the target business’ home jurisdiction, including any of the following:

·rules and regulations or currency conversion or corporate withholding taxes on individuals;

·tariffs and trade barriers;

·regulations related to customs and import/export matters;

·longer payment cycles;

·tax issues, such as tax law changes and variations in tax laws as compared to the United States;

·currency fluctuations and exchange controls;

·challenges in collecting accounts receivable;

·cultural and language differences;

·employment regulations;

·crime, strikes, riots, civil disturbances, terrorist attacks and wars; and

·deterioration of political relations with the United States.

We cannot assure you that we would be able to adequately address these additional risks. If we were unable to do so, our operations might suffer.

IF WE EFFECT AN ACQUISITION OR MERGER WITH A COMPANY LOCATED OUTSIDE OF THE UNITED STATES, THE LAWS APPLICABLE TO SUCH COMPANY WILL LIKELY GOVERN ALL OF OUR MATERIAL AGREEMENTS AND WE MAY NOT BE ABLE TO ENFORCE OUR LEGAL RIGHTS

If we effect an acquisition or merger with a company located outside of the United States, the laws of the country in which such company operates will govern almost all of the material agreements relating to its operations. We cannot assure you that the target business will be able to enforce any of its material agreements or that remedies will be available in this new jurisdiction. The system of laws and the enforcement of existing laws in such jurisdiction may not be as certain in implementation and interpretation as in the United States. The inability to enforce or obtain a remedy under any of our future agreements could result in a significant loss of business, business opportunities or capital. Additionally, if we acquire a company located outside of the United States, it is likely that substantially all of our assets would be located outside of the United States and some of our officers and directors might reside outside of the United States. As a result, it may not be possible for investors in the United States to enforce their legal rights, to effect service of process upon our directors or officers or to enforce judgments of United States courts predicated upon civil liabilities and criminal penalties of our directors and officers under Federal securities laws.

COMPLIANCE WITH THE SARBANES-OXLEY ACT OF 2002 WILL REQUIRE SUBSTANTIAL FINANCIAL AND MANAGEMENT RESOURCES AND MAY INCREASE THE TIME AND COSTS OF COMPLETING AN ACQUISITION

Section 404 of the Sarbanes-Oxley Act of 2002 requires that we evaluate and report on our system of internal controls and requires that we have such system of internal controls audited. If we fail to maintain the adequacy of our internal controls, we could be subject to regulatory scrutiny, civil or criminal penalties and/or stockholder litigation. Any inability to provide reliable financial reports could harm our business. Section 404 of the Sarbanes-Oxley Act also requires that our independent registered public accounting firm report on management’s evaluation of our system of internal controls. An acquisition target may not be in compliance with the provisions of the Sarbanes-Oxley Act regarding adequacy of their internal ~~controls.~~controls once the public float of our common stock reaches $75 million. The development of the internal controls of any such entity to achieve compliance with the Sarbanes-Oxley Act may increase the time and costs necessary to complete any such acquisition. Furthermore, any failure to implement required new or improved controls, or difficulties encountered in the implementation of adequate controls over our financial processes and reporting in the future, could harm our operating results or cause us to fail to meet our reporting obligations. Inferior internal controls could also cause investors to lose confidence in our reported financial information, which could have a negative effect on the trading price of our stock.

AN ACQUISITION COULD CREATE A SITUATION WHERE WE WOULD BE REQUIRED TO REGISTER UNDER THE INVESTMENT COMPANY ACT OF 1940 AND THUS BE REQUIRED TO INCUR SUBSTANTIAL ADDITIONAL COSTS AND EXPENSES

Although we will be subject to regulation under the Securities Exchange Act of 1934, management believes the Company will not be subject to regulation under the Investment Company Act of 1940, insofar as we will not be engaged in the business of investing or trading in securities. In the event we engage in a business combination that results in us holding passive investment interests in a number of entities, we could be subject to regulation under the Investment Company Act of 1940. In such event, we would be required to register as an investment company and could be expected to incur significant registration and compliance costs. We have obtained no formal determination from the Securities and Exchange Commission as to the status of our Company under the Investment Company Act of 1940 and, consequently, any violation of such Act would subject us to material adverse consequences.

A MERGER OR ACQUISITION WOULD MOST LIKELY BE EXCLUSIVE, RESULTING IN A LACK OF DIVERSIFICATION

Management anticipates that it may be able to participate in only one potential business venture because a business partner might require exclusivity. This lack of diversification should be considered a substantial risk to our shareholders because it will not permit us to offset potential losses from one venture against gains from another.

OUR COMMON STOCK IS QUOTED ONLY ON THE OTC BULLETIN BOARD AND THERE MAY NOT BE A SUSTAINED TRADING MARKET FOR OUR COMMON STOCK

Our shares are listed on the OTC Bulletin Board (the “OTCBB”) under the symbol SDON.

The OTCBB is a market maker or dealer-driven system offering quotation and trading reporting capabilities - a regulated quotation service - that displays real-time quotes, last-sale prices, and volume information in OTC equity securities. The OTCBB securities are not listed and traded on the floor of an organized national or regional stock exchange. Instead, OTCBB securities transactions are conducted through a telephone and computer network connecting market makers or dealers in stocks.

Given the nature of the OTCBB, stockholders may find it difficult to dispose of, or to obtain accurate quotations as to the price of, our common stock, the liquidity of our stock may be reduced, making it difficult for a stockholder to buy or sell our stock at competitive market prices or at all. Accordingly, you should be able to bear the financial risk of losing your entire investment.

OUR COMMON STOCK MAY BE SUBJECT TO SIGNIFICANT RESTRICTION ON RESALE DUE TO FEDERAL PENNY STOCK RESTRICTIONS

The Securities and Exchange Commission has adopted rules that regulate broker or dealer practices in connection with transactions in penny stocks. Penny stocks generally are equity securities with a price of less than $5.00 (other than securities registered on certain national securities exchanges or quoted on the Nasdaq system, provided that current price and volume information with respect to transactions in such securities is provided by the exchange system). The penny stock rules require a broker or dealer, prior to a transaction in a penny stock not otherwise exempt from the rules, to deliver a standardized risk disclosure document prepared by the Securities and Exchange Commission that provides information about penny stocks and the nature and level of risks in the penny stock market. The broker or dealer also must provide the customer with bid and offer quotations for the penny stock, the compensation of the broker or dealer, and its salesperson in the transaction, and monthly account statements showing the market value of each penny stock held in the customer’s account. The penny stock rules also require that prior to a transaction in a penny stock not otherwise exempt from such rules, the broker or dealer must make a special written determination that a penny stock is a suitable investment for the purchaser and receive the purchaser’s written agreement to the transaction.

These disclosure requirements may have the effect of reducing the level of trading activity in any secondary market for our stock that becomes subject to the penny stock rules, and accordingly, shareholders of our common stock may find it difficult to sell their securities, if at all.

The market prices of our common stock have been highly volatile. The market has from time to time experienced significant price and volume fluctuations that are unrelated to the operating performance of particular companies. Please see the table contained in Item 5 of this Report which sets forth the range of high and low closing prices of our common stock for the calendar quarters indicated.

Although our stockholders may receive dividends if, as and when declared by our Board of Directors, we do not intend to pay dividends on our common stock in the foreseeable future. Therefore, you should not purchase our common stock if you need immediate or future income by way of dividends from your investment.

OUR AMENDED AND RESTATED ARTICLES OF INCORPORATION AUTHORIZE THE ISSUANCE OF SHARES OF PREFERRED STOCK

Our Amended and Restated Articles of Incorporation provides that our Board of Directors will be authorized to issue from time to time, without further stockholder approval, up to 30,000,000 shares of preferred stock in one or more series and to fix or alter the designations, preferences, rights and any qualifications, limitations or restrictions of the shares of each series, including the dividend rights, dividend rates, conversion rights, voting rights, terms of redemption, including sinking fund provisions, redemption price or prices, liquidation preferences and the number of shares constituting any series or designations of any series. Such shares of preferred stock could have preferences over our common stock with respect to dividends and liquidation rights. We may issue additional preferred stock in ways which may delay, defer or prevent a change in control of the Company without further action by our stockholders. Such shares of preferred stock may be issued with voting rights that may adversely affect the voting power of the holders of our common stock by increasing the number of outstanding shares having voting rights, and by the creation of class or series voting rights.

WE MAY ISSUE A SUBSTANTIAL AMOUNT OF OUR COMMON STOCK IN THE FUTURE, WHICH COULD CAUSE DILUTION TO CURRENT INVESTORS AND OTHERWISE ADVERSELY AFFECT OUR STOCK PRICE

A key element of our growth strategy is to make acquisitions. As part of our acquisition strategy, we may issue additional shares of common stock as consideration for such acquisitions. These issuances could be significant. To the extent that we make acquisitions and issue our shares of common stock as consideration, your equity interest in us will be diluted. Any such issuance will also increase the number of outstanding shares of common stock that will be eligible for sale in the future. Persons receiving shares of our common stock in connection with these acquisitions may be more likely to sell off their common stock, which may influence the price of our common stock. In addition, the potential issuance of additional shares in connection with anticipated acquisitions could lessen demand for our common stock and result in a lower price than might otherwise be obtained. We may issue common stock in the future for other purposes as well, including in connection with financings, for compensation purposes, in connection with strategic transactions or for other purposes.

The Financial Accounting Standards Board’s ASC 805, “Business Combinations,” (“ASC 805”), requires business combinations to be accounted for under the purchase method. ASC 805 establishes principles for how an aquirer recognizes and measures identifiable assets aquired, liabilities assumed, any noncontrolling interest in the acquirer and the goodwill acquired. ASC 350, “Goodwill and Other Intangible Assets” (“ASC 350”), requires the use of a non-amortization approach to account for purchased goodwill and certain intangibles. Goodwill is the excess of the acquisition costs of the acquired entity over the fair value of the identifiable net assets acquired. The Company is required to test goodwill and intangible assets that are determined to have an indefinite life for impairments at least annually. The provisions of ASC 350 require the completion of an annual impairment test with any impairment recognized in current earnings. The provisions of ASC 805 and ASC 350 will be applicable to any business combination that we may enter into in the future.

We have also been informed that most business combinations will be accounted for as a reverse acquisition with us being the surviving registrant. As a result of any business combination, if the acquired entity’s shareholders will exercise control over us, the transaction will be deemed to be a capital transaction where we are treated as a non-business entity. Therefore, the accounting for the business combination is identical to that resulting from a reverse merger, except no goodwill or other intangible assets will be recorded. For accounting purposes, the acquired entity will be treated as the accounting acquirer and, accordingly, will be presented as the continuing entity.

IF WE DO ANY BUSINESS COMBINATION, EACH SHAREHOLDER WILL MOST LIKELY HOLD A SUBSTANTIALLY LESSER PERCENTAGE OWNERSHIP IN THE COMPANY

If we enter a business combination with a private concern, that, in all likelihood, would result in the Company issuing securities to shareholders of any such private company. The issuance of our previously authorized and unissued Common Stock would result in reduction in percentage of shares owned by our present and prospective shareholders and may result in a change in our control or in our management.

OUR CHIEF EXECUTIVE OFFICER IS OUR PRINCIPAL SHAREHOLDER AND WILL BE ABLE TO APPROVE ALL CORPORATE ACTIONS WITHOUT SHAREHOLDER CONSENT AND WILL CONTROL OUR COMPANY

Our principal shareholder, Daniel J. Dorman, owns or controls ~~65.63%~~67.73% of our common stock. His wife owns ~~3.72%~~3.49% of our common stock. Consequently, they will have significant influence over all matters requiring approval by our shareholders, but not requiring the approval of the minority shareholders. In addition, he is now an officer and director. Because Mr. Dorman and his wife own or control a majority of our common stock, they will be able to elect all of the members of our board of directors, allowing them to exercise significant control of our affairs and management. In addition, they may transact most corporate matters requiring shareholder approval by written consent, without a duly-noticed and duly-held meeting of shareholders.

The Company does not own or lease any property. The Company's headquarters are located in space provided by Dorman Industries. Dorman Industries leases its offices from a third party. The Company uses the office equipment and furniture of Dorman Industries to conduct its business. Dorman Industries has not charged the Company for the use of its property and equipment.

The Company’s Common Stock has been listed on the OTC Bulletin Board (the “OTCBB”) under the symbol SDON since April 1, 2004. The following table sets forth the high and low bid prices as reported on the OTCBB for all periods presented. The quotations reflect inter-dealer prices, without retail markup, markdown or commissions and may not represent actual transactions.

The Company estimates that there are approximately 200 holders of record of the Company's Common Stock as of March 27, ~~2018.~~2020.

The Company has never paid cash dividends and does not expect to pay cash dividends in the foreseeable future.

Recent Sales of Unregistered Securities; Uses of Proceeds from Registered Securities

~~On January 31, February 22, June 5, July 7, September 5, November 25, and December 11, 2017,~~Subsequent to April 1, 2004, the Company ~~entered into subscription agreements with an accredited investor pursuant to which the Company~~has sold ~~22,750, 591,600, 146,500, 143,150, 21,250, 4,722, and 25,911~~ shares of its Common Stock ~~(the “New 2017 Shares” together totaling 955,883 shares), respectively, for a price of $0.02, $0.02, $0.02, $0.02, $0.02, $.09 and $0.09 per share, respectively,~~to certain accredited investors in a private placement ~~at a total offering price for the New 2017 Shares issued of $21,262 in cash,~~agreements with no underwriting discounts or commissions payable.

~~On February 10, March 15, April 15, July 26, August 3, 2016, and November 1, 2016,~~ All of the Company entered into subscription agreements with an accredited investor pursuant to which the Company sold 37,667, 250,400, 37,667, 102,883, 53,800, and 41,500 shares of its Common Stock (the “New 2016 Shares” together totaling 523,867 shares), respectively, for a price of $0.03, $0.04, $0.03, $0.03, $0.03 and $0.04 per share, respectively, in a private placement, at a total offering price for the New 2016 Shares issued of $18,635 in cash, with no underwriting discounts or commissions payable.

On March 17, August 6, and November 2, 2015, the Company entered into subscription agreements with an accredited investor pursuant to which the Company sold 269,256 shares, 73,900 shares, and 51,350 shares of its Common Stock (the “New 2015 Shares”), respectively, for a price of $0.04, $0.04, and $0.04 per share, respectively, in a private placement, at a total offering price for the New 2015 Shares issued of $15,780 in cash, with no underwriting discounts or commissions payable.

On February 24, March 19, and August 7, 2014, the Company entered into subscription agreements with an accredited investor pursuant to which the Company sold 269,600 shares, 250,000 shares, and 213,700 shares of its Common Stock (the “New 2014 Shares”), respectively, for a price of $0.02, $0.04, and $0.03 per share, respectively in a private placement, at a total offering price for the New 2014 Shares issued of $21,803 in cash, with no underwriting discounts or commissions payable.

On November 7, 2013, the Company entered into a subscription agreement with an accredited investor pursuant to which the Company sold 361,766 shares of its Common Stock (the “New 2013 Shares”), for a price of $0.03 per share in a private placement, at a total offering price for the New 2013 Shares issued of $10,853 in cash, with no underwriting discounts or commissions payable.

On September 24, 2012, the Company entered into a subscription agreement with an accredited investor pursuant to which the Company sold 1,500,000 shares of its Common Stock (the “New 2012 Shares”), for a price of $0.01 per share in a private placement, at a total offering price for the New 2012 Shares issued of $15,000 in cash, with no underwriting discounts or commissions payable.

On November 14, 2011, the Company entered into a subscription agreement with an accredited investor pursuant to which the Company sold 375,000 shares of its Common Stock (the “New 2011 Shares”), for a price of $0.04 per share in a private placement, at a total offering price for the New 2011 Shares issued of $15,000 in cash, with no underwriting discounts or commissions payable.

On December 30, 2010, the Company entered into a subscription agreement with an accredited investor pursuant to which the Company sold 500,000 shares of its Common Stock (the “New 2010 Shares”), for a price of $0.03 per share in a private placement, at a total offering price for the New 2010 Shares issued of $15,000 in cash, with no underwriting discounts or commissions payable.

~~The New 2017, 2016, 2015, 2014, 2013, 2012, 2011, and 2010 Shares, and~~ shares sold ~~in 2006 (“New 2006 Shares”)~~since April 1, 2004 were sold in reliance on exemptions from registration under Section 4(2) of the Securities Act of 1933, as amended, and Rule 506 of Regulation D promulgated thereunder, based on the following: there was no general solicitation; all investors are “accredited investors” (within the meaning of Regulation D) who are sophisticated about business and financial matters; and all the New Shares issued are subject to restriction on transfer. A summary of the shares sold, including those sold in 2019 and 2018, is as follows:

The Company ~~intends to use~~used the proceeds from the sale of the unregistered securities for general corporate purposes and to sustain its current level of operations until such time as it identifies target companies or business operations, as described in Item 1 of this Form 10-K. At such time, and if a target company or business operations are identified, the Company will use all or a portion of the remaining proceeds for costs and expenses to be incurred in the due diligence process and for other acquisition activities relating to the target company or business operations.

As of December 31, ~~2017,~~2019, the number of stock options and restricted common stock outstanding under our equity compensation plans, the weighted average exercise price of outstanding options and restricted common stock and the number of securities remaining available for issuance were as follows:

Following the Net Asset Sale on March 31, 2004, the Company became a public shell with no revenue generating activities. The Company intends to build long-term shareholder value by acquiring and/or investing in and operating strategically positioned entities and business operations. The Company expects to target entities and business operations in multiple industry groups. The Company has yet to acquire, or enter into an agreement to acquire, any entity or business operations.

Year Ended December 31, ~~2017~~2019 Compared to Year Ended December 31, ~~2016~~2018

The business of the Company in ~~2017~~2019 includes only its consideration of various investment opportunities and incurring administrative expenses related to legal, accounting and administrative activities. The Company had no revenue generating activities in ~~2017.~~2019. The Company has had no employees since April 1, 2004. The administrative activities of the Company since April 1, 2004 have been performed by the Chairman, who also serves as the CEO, President and Principal Financial Officer. Direct administrative expenses of the Company for the year ended December 31, ~~2017~~2019 totaled ~~$18,578, a decrease~~$20,420, an increase of ~~$2,389,~~$546, or ~~11.4%~~2.7%, compared to ~~$20,967~~$19,874 incurred for the year ended December 31, ~~2016.~~2018. The ~~decrease~~increase in expenses relates primarily to ~~a decrease~~increases in bookkeeping and audit fees.

Year Ended December 31, ~~2016~~2018 Compared to Year Ended December 31, ~~2015~~2017

The business of the Company in ~~2016~~2018 includes only its consideration of various investment opportunities and incurring administrative expenses related to legal, accounting and administrative activities. The Company had no revenue generating activities in ~~2016.~~2018. The Company has had no employees since April 1, 2004. The administrative activities of the Company since April 1, 2004 have been performed by the Chairman, who also serves as the CEO, President and Principal Financial Officer. Direct administrative expenses of the Company for the year ended December 31, ~~2016~~2018 totaled ~~$20,967,~~$19,874, an increase of ~~$4,041,~~$1,296, or ~~23.9%~~7.0%, compared to ~~$16,926~~$18,578 incurred for the year ended December 31, ~~2015.~~2017. The increase in expenses relates primarily to ~~an increase~~increases in ~~fees paid to the service provider for XBRL services required pursuant to SEC regulations~~bookkeeping and ~~to the Company’s bookkeeping provider.~~audit fees.

Primary sources of liquidity since the Company became a “public shell” following the March 31, 2004 Net Asset Sale have been cash balances that have been used to pay administrative expenses. Operating expenses of the Company have been funded with $30,000 of available cash retained from the Net Asset Sale and from $50,000 of cash generated by the sale of additional shares of common stock to Dorman Industries on April 1, 2004. Subsequent thereto, the Company sold shares of unregistered securities through private placement in the following amounts:

While it is the Company's objective to ultimately be able to use the securities of the Company as a currency in the acquisition of portfolio businesses, the initial acquisitions of portfolio businesses may require the Company to be infused with additional capital thereby diluting the Company's shareholders, including Dorman Industries to the extent that it does not participate in the capital infusion.

The financial statements filed herewith are set forth in the Index to Consolidated Financial Statements (on page F-1) of the separate financial section which follows this report, and are incorporated herein by reference.

As of the end of the period covered by this Annual Report on Form 10-K, the Company performed an evaluation under the supervision and with the participation of management, our Chief Executive Officer and Chief Financial Officer, of the design and effectiveness of our disclosure controls and procedures (as defined in rules 13a-15(e) or 15d-15(e) under the Securities Exchange Act of 1934 (the “Exchange Act”)). Based upon that evaluation, our Chief Executive Officer and our Chief Financial Officer concluded that, as of the end of the period covered by this Annual Report, our disclosure controls and procedures were effective in the timely and accurate recording, processing, summarizing and reporting of material financial and non-financial information within the time periods specified within the Securities and Exchange Commission’s rules and forms. Our Chief Executive Officer and Chief Financial Officer also concluded that our disclosure controls and procedures were effective to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, to allow timely discussions regarding required disclosure.

Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Exchange Act Rules 13a-15(f) and 15d-15(f). Our internal control over financial reporting was designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. Internal control over financial reporting, no matter how well designed, has inherent limitations and may not prevent or detect misstatements. Therefore, even effective internal control over financial reporting can only provide reasonable assurance with respect to the financial statement preparation and presentation.

Our management has conducted, with the participation of our CEO and CFO, an assessment, including testing of the effectiveness, of our internal control over financial reporting as of December 31, ~~2017.~~2019. Management’s assessment of internal control over financial reporting was conducted using the criteria in Internal Control over Financial Reporting - Guidance for Smaller Public Companies issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on such assessment of our internal control over financial reporting, management concluded that our controls were effective as of December 31, ~~2017.~~2019.

This Annual Report does not include an attestation report of the company’s registered public accounting firm regarding internal control over financial reporting. Management’s report was not subject to attestation by the company’s registered public accounting firm pursuant to temporary rules of the Securities and Exchange Commission that permit the Company to provide only management’s report in this annual report.

There have been no changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934, as amended) that occurred during the fourth quarter ended December 31, ~~2017~~2019 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Certain information relating to the persons who are the directors of the Company is set forth below.

Daniel J. Dorman was appointed to the Board of Directors in April 2004 upon the purchase by Dorman Industries, LLC of 62.5% of the then outstanding common stock of the Company. Mr. Dorman is the founder of Dorman Industries, LLC, which he founded in 2004 to hold interests in several operating companies, and he has served as its President since its inception. Mr. Dorman has been the president of D.J. Dorman & Co., Inc. and its predecessor since 1989. D.J. Dorman & Co., Inc. originates, structures, acquires and manages investments in private equity and buy-out opportunities on behalf of several entities. Mr. Dorman is also a director of several other private entities.

Lawrence J. De Fiore was appointed to the Board of Directors in April 2004 upon the purchase by Dorman Industries, LLC of 62.5% of the outstanding Common Stock of the Company. Mr. De Fiore has been a CPA for over 20 years and is currently a shareholder and officer of the CPA firm of De Fiore Spalding, P.C. In addition, Mr. De Fiore is a managing member of Spalding Capital, LLC, a merchant banking firm, and serves on the boards of certain private equity funds and growth oriented operating enterprises. Mr. De Fiore has been active in over seventy-five transactions involving acquisitions and private investment as a principal and as a senior advisor to various Midwest based institutions and private families. Mr. De Fiore has extensive investment experience in financial due diligence, business valuation, ongoing portfolio management and strategic alliances. Mr. De Fiore graduated with honors from the Business School at Michigan State University and is licensed as a CPA in the State of Michigan.

Richard A. Walawender has been a director since December 2006. Mr. Walawender is a Senior Principal at the law firm Miller, Canfield, Paddock and Stone, PLC, and has been a lawyer at the firm for over 20 years. He is a former Managing Director of the firm and currently heads the firm’s Corporate & Securities Group. Mr. Walawender has extensive experience in corporate, securities and financing matters, including international ventures. He graduated with highest distinction with a B.A. from the University of Michigan and with a J.D. from the University of Michigan Law School. Mr. Walawender is licensed to practice law in the state of Michigan. He and the firm of Miller, Canfield, Paddock and Stone, PLC provide legal services to the Company.

The Company has one executive officer that serves in his positions at the pleasure of the Board of Directors. Mr. Daniel J. Dorman is the President, Chief Executive Officer and Principal Financial Officer.

Section 16(a) of the Securities Act of 1934, as amended, requires all Company executive officers and directors and persons who own more than ten percent of a registered class of the Company's equity securities to file reports of their ownership with the Securities and Exchange Commission. Executive officers, directors and greater than ten percent shareholders are required by SEC regulation to furnish the Company with copies of all Section 16(a) reports they file. Specific due dates for these reports have been established and the Company is required to report any delinquent filings and failures to file such reports.

Based solely on its review of the copies of such reports received by it and written representations of its executive officers and incumbent directors, the Company believes that during the year ended December 31, ~~2017,~~2019, all filing requirements under Section 16(a) applicable to its executive officers, directors and greater than ten percent beneficial owners were complied with.

Because the Company does not currently have any material business operations, the Company does not have a separate audit committee, and it does not have an audit committee financial expert. Instead, the entire Board of Directors functions as the audit committee, and it engaged the independent auditors. At such time as when the Company acquires a business or develops material business operations, it will form an audit committee and appoint an independent audit committee financial expert.

The Company has adopted a code of ethics that applies to its principal executive officer, principal financial officer and principal accounting officer or controller, or person's performing similar functions. A copy of such code of ethics has been filed with the SEC as Exhibit 14.01 to this annual report on Form 10-K.

A shareholder may nominate persons for election to our board of directors or make a proposal of business to be considered by our shareholders at our annual meeting of shareholders provided the shareholder gives timely notice of such nomination or proposal to the Secretary of the Corporation in accordance with our bylaws.

To be timely, a shareholder’s notice shall be delivered to our Secretary at our principal executive offices not less than 60 days nor more than 90 days prior to the first anniversary of the preceding year’s annual meeting; provided, however, that in the event the date of the annual meeting is advanced by more than 30 days or delayed by more than 60 days from such anniversary date, notice by the shareholder to be timely must be so delivered not earlier than the 90^th day prior to such annual meeting and not later than the close of business on the later of the 60^th day prior to such annual meeting or the 10^th day following the day on which public announcement of the date of such meeting is first made. Such shareholder’s notice must set forth (i) as to each person whom the shareholder proposes to nominate for election or reelection as a director, all information relating to such person that is required to be disclosed in solicitations of proxies for election of directors, or is otherwise required, in each case pursuant to Regulation 14A under the Securities Exchange Act of 1934, as amended (including such person’s written consent to being named in the proxy statement as a nominee and to serving as a director if elected); (ii) as to any other business that the shareholder proposes to bring before the meeting, a brief description of the business desired to be brought before the meeting, the reasons for conducting such business at the meeting and any material interest in such business of such shareholder and the beneficial owner, if any, on whose behalf the nomination or proposal is made; (iii) as to the shareholder giving the notice and the beneficial owner, if any, on whose behalf the nomination or proposal is made (A) the name and address of such shareholder, as they appear on our books, and of such beneficial owner and (B) the class and number of shares of the corporation which are owned beneficially and of record by such shareholder and such beneficial owner.

In the event that the number of directors to be elected to our Board of Directors is increased and there is no public announcement naming all of the nominees for director or specifying the size of the increased Board of Directors made by us at least 70 days prior to the first anniversary of the preceding year’s annual meeting, a shareholder’s notice will be considered timely, but only with respect to nominees for any new positions created by such increase, if it is delivered to our Secretary at our principal executive offices not later than the close of business on the 10^th day following the day on which such public announcement is first made by us.

At any special meeting of shareholders, only such business shall be conducted as shall have been brought before the meeting pursuant to our notice of meeting. Nominations of persons for election to our Board of Directors may be made at a special meeting of shareholders at which directors are to be elected pursuant to our notice of meeting (i) by or at the direction of the Board of Directors or (ii) by any shareholder of the Company who is a shareholder of record at the time of giving of notice provided hereunder, who is entitled to vote at the meeting and who complies with the notice procedures set forth in our bylaws. Nominations by shareholders of persons for election to our Board of Directors may be made at such a special meeting of shareholders if the shareholder’s notice required by our bylaws is delivered to our Secretary at our principal executive offices not earlier than the 90^th day prior to such special meeting and not later than the close of business on the later of the 60^th day prior to such special meeting or the 10^th day following the day on which public announcement is first made of the date of the special meeting and of the nominees proposed by the Board of Directors to be elected at such meeting.

Only such persons who are nominated in accordance with the procedures set forth in our bylaws are eligible to serve as directors and only such business shall be conducted at a meeting of shareholders as shall have been brought before the meeting in accordance with the procedures set forth in our bylaws. The Chairman of the meeting shall have the power and duty to determine whether a nomination or any business proposed to be brought before the meeting was made in accordance with the procedures set forth in our bylaws and, if any proposed nomination or business is not in compliance with our bylaws, to declare that such defective proposal shall be disregarded.

The following table sets forth information for the periods indicated concerning the aggregate compensation paid by the Company and its subsidiaries to the Company’s Executive Officer (the “Named Executive Officer”).

The following table sets forth information concerning options granted to the Named Executive Officer in the year ended December 31, ~~2017.~~2019.

The Named Executive Officer did not exercise any options in the year ended December 31, ~~2017.~~2019. The following table provides information with respect to unexercised options held by the Named Executive Officer as of December 31, ~~2017.~~2019.

The following table states certain information with respect to our equity compensation plans as of December 31, ~~2017:~~2019:

The Named Executive Officer does not have an employment agreement with the Company.

Each director who is not an officer or employee of the Company is eligible to receive for his services a fee of $1,000 per meeting attended and $500 for each committee meeting attended. Committee chairs receive an additional $250 for each committee meeting. The directors waived the director fees for meetings held during quarterly periods during which the Company reported a loss from operations, which were all quarters of the last two years. Directors who are officers or employees of the Company receive no additional compensation for their service as a director, although they are eligible to be reimbursed for their reasonable travel expenses when meetings are held in a location other than the metropolitan area in which they reside.

The Company's Long-Term Incentive Plan (the “Incentive Plan"), adopted in April 1999, provides for the granting of awards to purchase a total of 250,000 shares of common stock to key employees and others. Awards may be made by the Compensation Committee of the Board of Directors in the form of incentive stock options, non-qualified stock options, restricted stock or performance shares, provided that the Committee may not grant options to any salaried employee during any three-year period to purchase more than 100,000 shares.

The exercise price for each option granted under the Incentive Plan cannot be less than the fair market value of the common stock on the date of the grant. The Incentive Plan’s Committee has latitude in setting the vesting and exercise periods, but generally the options vest over a three-year period and had a ten-year term.

The Incentive Plan authorizes the Committee to grant restricted stock awards pursuant to which shares of Common Stock will be awarded, subject to restrictions on transfer that lapse over a period of time or upon achievement of performance goals, as determined by the Committee. Participants who receive restricted stock grants are entitled to dividend and voting rights on the awarded shares prior to the lapse of restrictions on such awards.

The Committee is also authorized to grant performance share awards under the Incentive Plan that are payable at the discretion of the Committee in cash, shares of Common Stock, or a combination of each, upon achievement of performance goals established by the Committee. The Committee will determine the terms and conditions of restricted stock and performance share awards, including the acceleration or lapse of any restrictions or conditions of such awards. Outstanding options under the Incentive Plan were cancelled as of March 31, 2004, and there are no outstanding options as of December 31, ~~2017~~2019 or ~~2016.~~2018.

The following table sets forth information as of December 31, ~~2017~~2019 with respect to the beneficial ownership of Common Stock by current directors, each executive officer named in the Summary Compensation Table under “Executive Compensation”, all current directors and executive officers as a group and all other persons known by the Company to beneficially own more than 5% of its outstanding common stock (each, a “5% Owner”). Except as noted below, each shareholder exercises sole voting and investment power with respect to the shares beneficially owned.

The share information included in the following table has been adjusted for the five-for-one reverse stock split approved by the shareholders at the Annual Meeting of Shareholders held on January 13, 2004.

Mr. Walawender is a Senior Principal at the law firm Miller, Canfield, Paddock and Stone, PLC. There were no legal fees incurred in ~~2017~~2019 or ~~2016.~~2018.

The Company’s independent accountants, Plante & Moran PLLC, have been engaged since July 2004. Fees paid to the Plante & Moran PLLC during ~~2017~~2019 and ~~2016~~2018 are as follows:

Audit Fees. This category includes the fees for the audit of our consolidated financial statements and the quarterly reviews of interim financial statements (the “reviews”). This category also includes advice on audit and accounting matters that arose during or as a result of the audit or the reviews and for services in connection with Securities and Exchange Commission filings.

Effective May 6, 2003, the Securities and Exchange Commission adopted rules that require that before independent auditors are engaged by the Company or its subsidiaries to render any auditing or permitted non-audit related service, the engagement be approved by the Company's audit committee, or the Company’s Board of Directors or entered into pursuant to pre-approval policies and procedures established by the audit committee or the board of directors, provided the policies and procedures are detailed as to the particular service, the audit committee is informed of each service, and such policies and procedures do not include delegation of the audit committee's responsibilities to management.

The Board of Directors requires advance approval of all audit, audit-related, tax, and other services performed by the independent auditor. Unless the specific service has been previously pre-approved with respect to that year, the audit committee must approve the permitted service before the independent auditor is engaged to perform it. The Board of Directors has delegated to the chairman authority to approve permitted services provided that the chairman reports any decisions to the Board of Directors at its next scheduled meeting.

Following the Net Asset Sale on March 31, 2004, the Board of Directors of the Company has fulfilled the functions of the audit committee. The Board of Directors engaged the firm of Plante & Moran PLLC to perform quarterly reviews beginning with the quarter ended June 30, 2004 and the annual audits beginning with the year ended December 31, 2004.

All financial statement schedules have been omitted as the required information is either inapplicable or included in the Consolidated Financial Statements or related notes.

The following exhibits are either filed as part of this report or are incorporated herein by reference:

The management contracts and compensatory plans or arrangements required to be filed as exhibits and included in such list of exhibits are as follows:

The Company will furnish to any shareholder a copy of any of the exhibits listed above upon written request and upon payment of a specified reasonable fee, which fee shall be equal to the Company's reasonable expenses in furnishing the exhibit to the shareholder. Requests for exhibits and information regarding the applicable fee shall be direct to: Mr. Daniel J. Dorman, President and Chief Executive Officer, at the address of the principal executive offices set forth on the cover of this Report on Form 10-K.

In accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized

Report of Independent ~~REGISTERED PUBLIC ACCOUNTING FIRM~~Registered Public Accounting Firm

We have audited the accompanying balance sheets of Sandston Corporation (the “Company”) as of December 31, ~~2017~~2019 and ~~2016,~~2018, the related statements of operations, stockholders' equity, and cash flows for each of the years in the two-year period ended December 31, ~~2017~~2019 and ~~2016,~~2018, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, ~~2017~~2019 and ~~2016,~~2018, and the results of its operations and its cash flows for each of the years in the two-year period ended December 31, ~~2017~~2019 and ~~2016,~~2018, in conformity with accounting principles generally accepted in the United States of America.

The accompanying financial statements have been prepared assuming the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company has sustained recurring losses from operations, negative working capital, and insufficient liquidity, which raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

The Company's management is responsible for these financial statements. Our responsibility is to express an opinion on the Company’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Pursuant to a recommendation of the Company’s Board of Directors and approval by its shareholders on January 13, 2004, the Company sold to NC Acquisition Corporation (the "Purchaser") on March 31, 2004 all of its tangible and intangible assets, including its real estate, accounts, equipment, intellectual property, inventory, subsidiaries, goodwill, and other intangibles, except for $30,000 in cash, (the "Net Asset Sale"). The Purchaser also assumed all of the Company’s liabilities pursuant to the Net Asset Sale. Following the Net Asset Sale, the Company’s only remaining assets were $30,000 in cash and it had no liabilities. It also retained no subsidiaries. On April 1, 2004 the Company amended its Articles of Incorporation to change its name from Nematron Corporation to Sandston Corporation (the “Company”) and to implement a shareholder approved one-for-five reverse stock split of the Company’s common stock, whereby every five issued and outstanding shares of the Company’s common stock became one share. On April 1, 2004, the Company also sold a total of 5,248,257 post-split shares to Dorman Industries, LLC (“Dorman Industries”) for $50,000. On December 21, 2006, the Company sold 2,400,000 post-split shares to certain accredited investors for $120,000.

Dorman Industries is a Michigan Limited Liability Company wholly owned by Mr. Daniel J. Dorman, the Company’s Chairman of the Board, President and Principal Accounting Officer. Pursuant to its purchase of these shares, Dorman Industries became the owner of 62.50% of the then outstanding common stock of the Company. The Company has made several subsequent sales of common stock to Dorman Industries in order to raise cash to pay operating ~~expenses:~~expenses. Between December 30, 2010 - 500,000 shares for $15,000; November 14, 2011 - 375,000 shares for $15,000; September 24, 2012 - 1,500,000 shares for $15,000; November 7, 2013 – 361,766 shares for $10,853; February, March, and August 2014 – 733,300 shares for $21,803; March, August, and November, 2015 – 394,506 shares for $15,780; February, March, April, July, August, and November 2016 – 523,867 shares for $18,635; and January, February, June, July, September, November, and December ~~2017 – 955,883~~31, 2019, the Company sold to Dorman Industries a total of 6,398,702 shares ~~for $21,262.~~at per share prices equal to the closing price the day prior to each sale, and realized proceeds of $171,454. Dorman Industries currently is the beneficial owner of ~~65.63%~~67.73% of the Company’s outstanding common stock.

During the period prior to the Net Asset Sale, the Company’s businesses included 1) the design, manufacture, and marketing of environmentally ruggedized computers and computer displays known as industrial workstations; 2) the design, development and marketing of software for worldwide use in factory automation and control and in test and measurement environments; and 3) providing application engineering support to customers of its own and third parties’ products. These businesses were sold on March 31, 2004 to the Purchaser.

The Company became a "public shell" corporation on April 1, 2004 following the Net Asset Sale and since that date its operational activities have been limited to considering sundry and various acquisition opportunities, and its financial activities have been limited to administrative activities and incurring expenditures for accounting, legal, filing, printing, office and auditing services. These expenditures have been paid with the $30,000 cash retained from the businesses that were sold, from $50,000 of proceeds from the sale of common stock on April 1, 2004 to Dorman Industries, from ~~$253,333~~$120,000 of proceeds from the sale, through a private placement, to certain accredited investors of common stock in December 2006, and from $171,454 of proceeds from the sales, through a private ~~placement,~~placements, of unregistered common stock to Dorman Industries in the years ~~2006~~2010 through ~~2017 to certain accredited investors.~~2019.

As reflected in the accompanying balance sheet at December 31, ~~2017,~~2019, cash totals ~~$270.~~$197. Based on such balance and management’s forecast of activity levels during the period that it may remain a “public shell” corporation, management will have to again sell through private placement a number of additional shares of common stock to generate sufficient cash to pay its current liabilities and its administrative expenses as such expenses become due in ~~2018~~2019. If the Company has not identified and consummated an acquisition by that date, the Company will need to obtain additional funds to maintain its administrative activities as a public shell company. Management intends to obtain such administrative funds from Dorman Industries in the form of loans or through equity sales in an amount sufficient to sustain operations at their current level. There can be no assurance that Dorman Industries, which owns ~~65.63%~~67.73% of the Company’s outstanding stock, or any other party will advance needed funds on any terms. The Company has not identified as yet potential acquisition candidates, the acquisition of which would mean that the Company would cease being a “public shell” and begin operating activities.

Income taxes are accounted for under the asset-and-liability method. Deferred income tax assets and liabilities are computed annually for differences between the financial statement and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future. Such deferred income tax asset and liability computations are based on enacted tax laws and rates. A valuation allowance is established when necessary to reduce deferred income tax assets to the amount expected to be realized.

Loss per share is calculated using the weighted average number of common shares outstanding during the years presented. The weighted average shares outstanding used in computing loss per share was ~~15,876,484~~16,974,868 and ~~14,994,308~~16,501,501 for the years ended December 31, ~~2017~~2019 and ~~2016,~~2018, respectively. There are no outstanding dilutive stock options and warrants. All outstanding stock options and warrants were cancelled effective with the Net Asset Sale.

Income tax expense is $-0- for both ~~2017~~2019 and ~~2016,~~2018, including $-0- in current taxes and $-0- in deferred taxes for both ~~2017~~2019 and ~~2016.~~2018.

A reconciliation of income tax expense recognized to income taxes at statutory rates is as follows:

Tax Cuts and Jobs Act (TCJA) tax reform legislation enacted on December 22, 2017 ~~makes~~made major changes to the U.S. corporate income tax system, including lowering the U.S. federal corporate income tax rate to 21 percent from 34 percent, limiting or eliminating certain existing tax deductions, credits and incentives, allowing immediately expensing of capital expenditures through 2022, and eliminating the expiration of net operating loss carryforwards for losses generated in 2018 or after. ASC 740 ~~requires~~required companies to recognize the effects of tax law changes in the period of enactment, which for us was the fourth quarter of 2017, even though the effective date of most provisions of the TCJA is January 1, 2018. TCJA resulted in significant changes to the our fourth quarter 2017 income tax provision most notably a reduction in our deferred tax asset, before valuation allowance, as a result of the lower corporate income tax rate.

At December 31, ~~2017,~~2019, the Company has net operating loss carryforwards (“NOLs”) of approximately ~~$385,000~~$425,000 that can be used to offset future taxable income, and such NOLs result in a gross deferred tax asset of approximately ~~$82,000~~$88,000 at that date. These NOLs expire in varying amounts through ~~2036.~~2037 for losses prior to 2018, and the NOLs generated in 2018 and 2019 have no expiration date. Realization of these NOLs is subject to annual limitations under current IRS regulations pursuant to change in control provisions and is dependent on the existence of future taxable income. At December 31, ~~2017~~2019 and ~~2016,~~2018, a valuation allowance has been recognized for the entire amount of the Company's net deferred tax asset. The valuation allowance ~~decreased~~increased by ~~$43,000~~$4,000 in ~~2017, decreasing~~2019, increasing from ~~$125,000~~$84,000 at December 31, ~~2016~~2018 to ~~$82,000~~$88,000 at December 31, ~~2017.~~2019.

All option and share amounts reflected in the following disclosures have been adjusted for the one-for-five reverse stock split on April 1, 2004.

The Committee is also authorized to grant performance share awards under the Incentive Plan that are payable at the discretion of the Committee in cash, shares of Common Stock, or a combination of each, upon achievement of performance goals established by the Committee. The Committee will determine the terms and conditions of restricted stock and performance share awards, including the acceleration or lapse of any restrictions or conditions of such awards. Outstanding options under the Incentive Plan were cancelled as of March 31, 2004. There were no option grants in the years ended December 31, ~~2017~~2019 and ~~2016,~~2018, and there are no outstanding options as of December 31, ~~2017~~2019 or ~~2016.~~2018.

~~F- 9~~

F-10

Michigan	38-2483796
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

Large accelerated filer	¨	Accelerated filer	¨
Non-accelerated filer	¨x	Smaller reporting company	x
		Emerging growth company	¨

		Page
	PART I.
Item 1.	Business		14
Item 1A.	Risk Factors		24
Item 1B.	Unresolved Staff Comments		1113
Item 2.	Properties		1113
Item 3.	Legal Proceedings		1113
Item 4.	Mine Safety Disclosures		1113

	PART II.
Item 5.	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities		1214
Item 6.	Selected Financial Data		1416
Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations		1416
Item 7A.	Quantitative and Qualitative Disclosures About Market Risk		1617
Item 8.	Financial Statements and Supplementary Data		1618
Item 9.	Changes in and Disagreements with Accountants on Accounting and Financial Disclosures		1618
Item 9A(T).	Controls and Procedures		1718
Item 9B.	Other Information		1819

	PART III.
Item 10.	Directors, Executive Officers, Promoters and Corporate Governance		1819
Item 11.	Executive Compensation		2122
Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters		2324
Item 13.	Certain Relationships and Related Transactions, and Director Independence		2425
Item 14.	Principal Accountant Fees and Services		2425

	PART IV.
Item 15.	Exhibits and Financial Statement Schedules		2526
	Signatures		2728

2016	High		Low
2018					High		Low
First Quarter	$	0.04	$	0.03	$	0.05	$	0.03
Second Quarter		0.04		0.03		0.08		0.03
Third Quarter		0.06		0.02		0.09		0.05
Fourth Quarter		0.06		0.01		0.07		0.05

Period	Total Number of Shares Purchased		Average Price Paid per Share	Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs		Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs
Month Ended October 31, 2017		-0-	Not applicable		-0-		-0-
Month Ended November 30, 2017		-0-	Not applicable		-0-		-0-
Month Ended December 31, 2017		-0-	Not applicable		-0-		-0-
Total		-0-	Not applicable		-0-		-0-

	x	ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

1496 Business Park Drive, Suite A, Traverse City, Michigan	49868
(Address of principal executive offices)	(Zip Code)

2017	High		Low
2019					High		Low
First Quarter	$	0.02	$	0.01	$	0.06	$	0.04
Second Quarter		0.02		0.02		0.04		0.03
Third Quarter		0.02		0.02		0.04		0.03
Fourth Quarter		0.10		0.02		0.07		0.04

Year	Number of Sales	Shares		Proceeds		Range of Price Per Share
2019	6		530,022	$	19,989		$0.03 to $0.06
2018	4		524,358		18,132		$0.03 to $0.05
2017	7		955,883		21,262		$0.02 to $0.09
2016	6		523,867		18,635		$0.03 to $0.04
2015	3		394,506		15,780		$0.04
2014	3		733,300		21,803		$0.02 to $0.04
2013	1		361,767		10,853		$0.03
2012	1		1,500,000		15,000		$0.01
2011	1		375,000		15,000		$0.04
2010	1		500,000		15,000		$0.03
2006	1		2,400,000		120,000		$0.05

Total	34		8,798,703	$	291,454		$0.01 to $0.09

Period	Total Number of Shares Purchased	Average Price Paid per Share	Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs
Month Ended October 31, 2019	-0-	Not applicable	-0-	-0-
Month Ended November 30, 2019	-0-	Not applicable	-0-	-0-
Month Ended December 31, 2019	-0-	Not applicable	-0-	-0-
Total	-0-	Not applicable	-0-	-0-

Plan Category	Number of Securities to be Issued Upon Exercise of Outstanding Options, Restricted Common Stock, Warrants and Rights (a)		Weighted-Average Exercise Price of Outstanding Options, Restricted Common Stock, Warrants and Rights (b)	Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Securities Reflected in Column (a)) (c)		Number of Securities to be Issued Upon Exercise of Outstanding Options, Restricted Common Stock, Warrants and Rights (a)	Weighted-Average Exercise Price of Outstanding Options, Restricted Common Stock, Warrants and Rights (b)	Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Securities Reflected in Column (a)) (c)
Equity compensation plans approved by security holders		-0-	Not applicable		464,000	-0-	Not applicable	464,000
Equity compensation plans not approved by security holders		-0-	Not applicable		-0-	-0-	Not applicable	-0-
Total		-0-	Not applicable		464,000	-0-	Not applicable	464,000

Name	Age	Principal Occupation	Director Since	Term Expires

Daniel J. Dorman	55	President of Dorman Industries, LLC, a company that beneficially owns 65.63% of the outstanding Common Stock of the Company (1)	2004	2010 (2)
Lawrence J. De Fiore	57	CPA and shareholder and officer of DeFiore Spalding, P.C., a public accounting firm	2004	2009 (2)
Richard A. Walawender	57	Senior Principal at the law firm Miller, Canfield, Paddock and Stone, PLC.	2006	2008 (2)


	(2)	Messrs. Dorman, De Fiore, and Walawender will serve until their resignation or removal or until their successor is elected.

Name and Principal Occupation	Year	Annual Compensation				Long Term Compensation Awards Options (#)		All Other Compensation ($)		Year	Annual Compensation		Long Term Compensation Awards Options (#)	All Other Compensation ($)
		Salary ($)		Bonus ($)						Year			Long Term Compensation Awards Options (#)	All Other Compensation ($)

Name and Principal Occupation										Year	Salary ($)	Bonus ($)	Long Term Compensation Awards Options (#)	All Other Compensation ($)
Name and Principal Occupation	2017	$	-0-	$	-0-		-0-	$	-0-	Year	$-0-	$-0-	Long Term Compensation Awards Options (#)	All Other Compensation ($)
President and Chief	2016	$	-0-	$	-0-		-0-	$	-0-	2018	$-0-		-0-	$-0-
Executive Officer	2015	$	-0-	$	-0-		-0-	$	-0-	2017	$-0-		-0-	$-0-

	Individual Grants									Individual Grants
Name	Number of Securities Underlying Options Granted		Percent of Total Options Granted To Employees In Fiscal Year			Exercise or Base Price ($/Share)		Expiration Date		Number of Securities Underlying Options Granted	Percent of Total Options Granted To Employees In Fiscal Year	Exercise or Base Price ($/Share)	Expiration Date

Daniel J. Dorman		-0-		-0-	%		---		---	-0-	-0-%	---

Plan category	Number of securities to be issued upon exercise of outstanding options	Weighted-average exercise price of outstanding options	Number of securities remaining available for future issuance under equity compensation plans
1993 Stock Option Plan	0	Not applicable	190,000
Long-Term Incentive Plan	0	Not applicable	250,000
1993 Directors Stock Option Plan	0	Not applicable	24,000
Total	0	Not applicable	464,000

	Number of Shares
Name	Beneficially Owned		Percent of Class (4)

Directors and Management:
Daniel J. Dorman (1)		10,592,579		65.63	%
Lawrence J. De Fiore (2)		400,000		2.48	%
Richard A. Walawender (3)		200,000		1.24	%
All directors and executive officers as group (3 persons)		11,192,579		69.35	%

5% Owners:
Daniel J. Dorman (1)		10,592,579		65.63	%

Name	Number of Shares Beneficially Owned		Percent of Class (4)
Directors and Management:
Daniel J. Dorman (1)		11,646,959		67.73	%
Lawrence J. De Fiore (2)		400,000		2.33	%
Richard A. Walawender (3)		200,000		1.16	%
All directors and executive officers as group (3 persons)		12,246,959		71.22	%

5% Owners:
Daniel J. Dorman (1)		11,646,959		67.73	%

	(1)	The number of shares shown in the table for Mr. Dorman represents 5,248,257 shares purchased on April 1, 2004, 500,000 shares purchased in 2010, 375,000 shares purchased in 2011, 1,500,000 shares purchased in 2012, 361,766 shares purchased in 2013, 733,300 shares purchased in 2014, 394,506 shares purchased in 2015, 523,867 shares purchased in 2016, ~~and~~ 955,883 shares purchased in 2017, 524,358 shares purchased in 2018 and 530,022 shares purchased in 2019 by Dorman Industries, LLC, an entity owned by Mr. Dorman, but does not include 600,000 shares purchased in December 2006 by Patricia A. Dorman, Mr. Dorman’s wife. Mr. Dorman disclaims beneficial ownership of any and all shares of the Company’s common stock beneficially owned by his wife.

	(2)	The shares shown in the table for Mr. DeFiore represent those shares purchased in December 2006 by the Lawrence J. DeFiore Living Trust.

	(3)	The shares shown in the table for Mr. Walawender represent those shares purchased in December 2006 by Walawender Holdings, LLC.

	(4)	The number of shares and percentages were determined as of December 31, ~~2017.~~2019. At that date ~~16,141,303~~17,195,683 shares of stock were outstanding. There were no outstanding common stock equivalents at that date or subsequent thereto to the date of this filing.

	2017		2016
Audit Fees	$	10,900	$	10,600
Audit Related Fees		-0-		-0-
Tax Fees		-0-		-0-
All Other Fees		-0-		-0-

	(a)	The following financial statements are included in this Annual Report on Form 10-K for the fiscal year ended December 31, ~~2017.~~2019.


	3.	Consolidated Statements of Operations for the years ended December 31, ~~2017~~2019 and ~~2016~~2018

	4.	Consolidated Statements of Stockholders’ Equity for the years ended December 31, ~~2017~~2019 and ~~2016~~2018

	5.	Consolidated Statements of Cash Flows the years ended December 31, ~~2017~~2019 and ~~2016~~2018

Exhibit No.		Description

3.01		Amended and Restated Articles of Incorporation, as amended, filed asExhibit 3.1 to the Registrant's Form 10-QSB for the quarterly period ended September 30, 1999 and incorporated herein by reference, together with the Certificate of Amendment to such Amended and restated Articles of Incorporation filed asExhibit 3.02 to the Registrant's Form 10-QSB for the quarterly period ended March 31, 2004 and incorporated herein by reference,

3.02		Amended and Restated Bylaws, as amended, filed as Exhibit 3.02 to the Registrant's Form 10-KSB for the fiscal year ended December 31, 1999 and incorporated herein by reference.

4.03		Description of Securities Registered Pursuant to Section 12 of the Securities Act.**

10.01		Nematron Corporation Long-Term Incentive Plan, filed as Exhibit 10.03 to the Registrant's Form 10-QSB for the quarterly period ended March 31, 1999 and incorporated herein by reference.

14.01		Code of Ethics filed as Exhibit 14.01 to the Registrant's Form 10-K for the fiscal year ended December 31, 2011 and incorporated herein by reference.

23.01		Consent of Plante & Moran, PLLC**

31.01		Certification of Principal Executive Officer pursuant to 15 U.S.C. 78m(a) or 78o(d) (Section 302 of the Sarbanes Oxley Act of 2002).**

31.02		Certification of Principal Financial Officer pursuant to 15 U.S.C. 78m(a) or 78o(d) (Section 302 of the Sarbanes Oxley Act of 2002).**

32.01		Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.**

32.02		Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.**

101.INS		XBRL Instance Document**

101.SCH		XBRL Taxonomy Extension Schema Document**

101.CAL		XBRL Taxonomy Extension Calculation Linkbase Document**

101.DEF		XBRL Taxonomy Extension Definition Linkbase Document**

101.LAB		XBRL Taxonomy Extension Label Linkbase Document**

101.PRE		XBRL Taxonomy Extension Presentation Linkbase Document

**		Filed herewith.

Sandston Corporation

By:	~~/s/~~/s/ Daniel J. Dorman	Dated:	March 27, ~~2018~~2020
	Daniel J. Dorman, Chairman, President
	and Chief Executive Officer (Principal
	Executive Officer and Principal Financial
	Officer)

By:	~~/s/~~/s/ Laurence J. De Fiore	Dated:	March 27, ~~2018~~2020
	Lawrence J. De Fiore, Director

By:	~~/s/~~/s/ Richard A. Walawender	Dated:	March 27, ~~2018~~2020
	Richard A. Walawender, Director

	Page

Report of Independent Registered Public Accounting Firm	F-2 to F-3

Balance Sheets as of December 31, ~~2017~~2019 and ~~2016~~2018	F-4

Consolidated Statements of Operations for the years endedDecember 31, ~~2017~~2019 and ~~2016~~2018	F-5

Consolidated Statements of Stockholders' Equity for the years endedDecember 31, ~~2017~~2019 and ~~2016~~2018	F-6

Consolidated Statements of Cash Flows for the years endedDecember 31, ~~2017~~2019 and ~~2016~~2018	F-7

Notes to Financial Statementsfor the years endedDecember 31, ~~2017~~2019 and ~~2016~~2018	F-8 to F-10

	December 31,
	2017		2016

Current assets:
Cash	$	270	$	303

Total assets	$	270	$	303

Current liabilities:
Accounts payable	$	21,826		$	24,543

Stockholders' equity (deficit):
Common stock, no par value; 30,000,000 shares
authorized; 16,141,303 and 15,185,420 shares issued
and outstanding at December 31, 2017 and 2016		33,933,117			33,911,855
Accumulated deficit		(33,954,673	)		(33,936,095	)
Total stockholders' equity (deficit)		(21,556	)		(24,240	)

Total liabilities and stockholders' equity (deficit)	$	270		$	303

Current liabilities:
Accounts payable	$	23,926		$	23,507

Stockholders' equity (deficit):
Common stock, no par value; 30,000,000 shares authorized; 17,195,683 and 16,665,661 shares issued and outstanding at December 31, 2019 and 2018		33,971,238			33,951,249
Accumulated deficit		(33,994,967	)		(33,974,547	)
Total stockholders' equity (deficit)		(23,729	)		(23,298	)

Total liabilities and stockholders' equity (deficit)	$	197		$	209

	Year Ended December 31,
	2017			2016

Net revenues	$	-		$	-

General and administrative expenses		18,578			20,967

Operating loss		(18,578	)		(20,967	)

Income taxes		-			-

Net loss	$	(18,578	)	$	(20,967	)

Loss per share - basic and diluted (Note 2):		$ nil			$ nil
Weighted average shares - basic and diluted (Note 2):		15,876,484			14,994,308

	Common Stock				Accumulated
	Shares		Amount		Deficit			Total

Balance, January 1, 2016		14,661,553	$	33,893,220	$	(33,915,128	)	$	(21,908	)

Sale of common stock		523,867		18,635					18,635

Net loss for the year ended
December 31, 2016						(20,967	)		(20,967	)

Balance, December 31, 2016		15,185,420		33,911,855		(33,936,095	)		(24,240	)

Sale of common stock		955,883		21,262					21,262

Net loss for the year ended
December 31, 2017						(18,578	)		(18,578	)

Balance, December 31, 2017		16,141,303	$	33,933,117	$	(33,954,673	)	$	(21,556	)