U.S. SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

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FORM 10-Q
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Commission File Number 0-7865.

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SECURITY LAND AND DEVELOPMENT CORPORATION

(Exact name of issuer as specified in its charter)

2816 Washington Road, #103, Augusta, Georgia 30909

(Address of Principal Executive Offices)

Issuers Telephone Number(706) 736-6334

(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Year)

___________________

Check whether the Issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.   YES☒xNO ☐¨

     Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.

See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in rule 12b-2 of the Exchange Act.

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).   YES ☒x  NO ☐¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

☐ Yes¨ ☒YesxNo

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date.

SECURITY LAND AND DEVELOPMENT CORPORATION

Form 10-Q

Index

PARTI.FINANCIALINFORMATION

Item

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SECURITY LAND AND DEVELOPMENT CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS

The accompanying notes are an integral part of these consolidated financial statements.

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SECURITYLANDANDDEVELOPMENT CORPORATION

Notes to the Consolidated Financial Statements

Note1–BasisofPresentation

The accompanying unaudited consolidated financial statements were prepared in accordance with instructions for Form 10-Q,10 Q, Article 8 of Regulation S-XS X and accounting principles generally accepted in the United States of America; therefore, they do not include all disclosures necessary for a complete presentation of financial condition, results of operations, and cash flows. Such statements are unaudited but, in the opinion of management, reflect all adjustments, which are of a normal recurring nature and necessary for a fair presentation of results for the selected interim periods. Users of financial information produced for interim periods are encouraged to refer to the footnotes contained in the audited financial statements appearing in our Form 10-K10 K for the year ended September 30, 2016 when reviewing these interim financial statements.

The financial statements include estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The consolidated financial statements include the accounts of Security Land and Development Corporation and its four wholly owned subsidiaries, Royal Palms Motel, Inc., SLDC, LLC, SLDC 2, LLC and SLDC III, LLC (described on a consolidated basis as the “Company”). Significant intercompany transactions and accounts are eliminated in consolidation.

Critical Accounting Policies:

Estimates of Useful Lives of Investment Properties for Purposes of Depreciation

Management has estimated useful lives of investment properties, except for land, that is leased, and the Company utilizes the straight-linestraight line method to compute depreciation over the estimated useful lives of the investment properties. Actual depreciation of investment properties will vary from management’s estimates, and the value of investment properties is more directly impacted by market conditions and the physical condition of the investment properties.

Evaluation of Long-LivedLong Lived Assets for Impairment

The Company evaluates long-livedlong lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of investment properties may not be recoverable. In evaluating recoverability, the Company generally estimates future cash flows expected to result from the use of the asset and its eventual disposition. An impairment loss is recognized when the expected future cash flows of the asset are less than its carrying amount.

Estimates of Income Tax Rates Applicable to Deferred Taxes

The Company has deferred income taxes through a series of tax-deferred like-kindtax deferred like kind exchange transactions on certain investment properties and through accelerated depreciation elections on certain other assets. Actual income taxes that may become due when taxable gains are realized on the sale of assets may differ from management’s estimates as a result of changes in tax laws, the tax status of the Company, or the actual taxable earnings of the Company in the periods the deferred income taxes become due.

Refer to the Company’s Form 10-K10 K for the year ended September 30, 2016 for further information regarding its critical accounting policies.

(Continued)

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Note1–BasisofPresentation,Continued

RecentlyIssuedAccountingStandards

Recently Issued Accounting Standards

In May 2014, the FASB issued guidance to change the recognition of revenue from contracts with customers in future periods. The core principle of the new guidance is that an entity should recognize revenue to reflect the transfer of goods and services to customers in an amount equal to the consideration the entity receives or expects to receive. The guidance will be effective for the Company for reporting periods beginning after December 15, 2017. The comprehensive new standard will supersede existing revenue recognition guidance and require revenue to be recognized when promised goods or services are transferred to customers in amounts that reflect the consideration to which the Company expects to be entitled in exchange for those goods or services. Adoption of the new rules could affect the timing of revenue recognition for certain transactions. The guidance permits two implementation approaches, one requiring retrospective application of the new standard with restatement of prior years and one requiring prospective application of the new standard with disclosure of results under old standards. The Company is currently evaluating the impact of adoption and the implementation approach to be used.

In August 2014, the FASB issued guidance that is intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures. In connection with preparing financial statements, management will need to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the organization’s ability to continue as a going concern within one year after the date that the financial statements are issued. The guidance will be effective for the Company for the annual period ending September 30, 2017, and for annual periods and interim periods thereafter. The Company does not expect this guidance to have a material effect on its financial statements.               

In August 2015, the FASB issued amendments to the Interest topic of the Accounting Standards Codification to clarify the SEC staff’s position on presenting and measuring debt issuance costs incurred in connection with line-of-credit arrangements. The amendments were effective upon issuance. The Company does not expect these amendments to have a material effect on its financial statements.

In August 2015, the FASB deferred the effective date of ASU 2014-09,2014 09, Revenue from Contracts with Customers. As a result of the deferral, the guidance in ASU 2014-092014 09 will be effective for the Company for reporting periods beginning after December 15, 2017. The Company will apply the guidance using a modified retrospective approach. The Company does not expect these amendments to have a material effect on its financial statements.

In November 2015, the FASB amended the Income Taxes topic of the Accounting Standards Codification to simplify the presentation of deferred income taxes by requiring that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments will be effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods.  The Company will apply the guidance prospectively. The Company does not expect these amendments to have a material effect on its financial statements.

In February 2016, the FASB amended the Leases topic of the Accounting Standards Codification to revise certain aspects of recognition, measurement, presentation, and disclosure of leasing transactions. The amendments will be effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years.  The Company is currently evaluating the effect that implementation of the new standard will have on its financial position, results of operations, and cash flows.

In March 2016, the FASB amended the Revenue from Contracts with Customers topic of the Accounting Standards Codification to clarify the implementation guidance on principal versus agent considerations and address how an entity should assess whether it is the principal or the agent in contracts that include three or more parties. The amendments will be effective for the Company for reporting periods beginning after December 15, 2017. The Company does not expect these amendments to have a material effect on its financial statements.

(Continued)

Note 1 – Basis of Presentation, Continued

Recently issued accounting standards, continued

In MarchApril 2016, the FASB issued guidance to simplify several aspectsamended the Revenue from Contracts with Customers topic of the accounting for share-based payment award transactions including the incomeAccounting Standards Codification to clarify guidance related to collectability, noncash consideration, presentation of sales tax, consequences, the classification of awards as either equity or liabilities, and the classification on the statement of cash flows. Additionally, the guidance simplifies two areas specific to entities other than public business entities allowing them apply a practical expedient to estimate the expected term for all awards with performance or service conditions that have certain characteristics and also allowing them to make a one-time election to switch from measuring all liability-classified awards at fair value to measuring them at intrinsic value.transition. The amendments will be effective for the Company for annualreporting periods beginning after December 15, 2016 and interim periods within those annual periods-public business entities.2017. The Company does not expect these amendments to have a material effect on its financial statements.

In May 2016, the FASB amended the Revenue from Contracts with Customers topic of the Accounting Standards Codification to clarify guidance related to collectability, noncash consideration, presentation of sales tax, and transition. The amendments will be effective for the Company for reporting periods beginning after December 15, 2017. The Company does not expect these amendments to have a material effect on its financial statements.

In December 2016, the FASB issued technical corrections and improvements to the Revenue from Contracts with Customers Topic. These corrections make a limited number of revisions to several pieces of the revenue recognition standard issued in 2014. The effective date and transition requirements for the technical corrections will be effective for the Company for reporting periods beginning after December 15, 2017. The Company will apply the guidance using a modified retrospective approach. The Company does not expect these amendments to have a material effect on its financial statements.

In August 2014, the FASB issued guidance that is intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures. In connection with preparing financial statements, management will need to evaluate whether there are conditions or events,consideredintheaggregate,thatraisesubstantialdoubtabouttheorganization’sabilitytocontinueasagoingconcernwithinoneyearafterthedatethatthefinancialstatementsareissued.TheguidancewillbeeffectivefortheCompanyfortheannualperiodendingSeptember30,2017,andforannualperiodsandinterimperiodsthereafter.TheCompanydoesnotexpectthisguidancetohaveamaterialeffectonitsfinancialstatements.

(Continued)

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Note1–BasisofPresentation,Continued

RecentlyIssuedAccountingStandards,continued

InFebruary2016,theFASBamendedtheLeases topic of the Accounting Standards Codification to require all leases with lease terms over 12 months to be capitalized as a right of use asset and lease liability on the balance sheet at the date of lease commencement. Leases will be classified as either finance leases or operating leases. This distinction will be relevant for the pattern of expense recognition in the income statement. The amendments will be effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the effect that implementation of the new standard will have on its financial position, results of operations, and cash flows.

In August 2016, the FASB amended the Statement of Cash Flows topic of the Accounting Standards Codification to clarify how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments will be effective for the Company for fiscal years beginning after December 15, 2017 including interim periods within those fiscal years. The Company does not expect these amendments to have a material effect on its financial statements.

In November, 2016, the FASB amended the Statement of Cash Flows topic of the Accounting Standards Codification to clarify how restricted cash is presented and classified in the statement of cash flows. The amendments will be effective for the Company for fiscal years beginning after December 31, 2017 including interim periods within those fiscal years. Early adoption is permitted. The Company does not expect these amendments to have a material effect on its financial statements.

In October 2016, the FASB amended the Income Taxes topic of the Accounting Standards Codification to modify the accounting for intra entity transfers of assets other than inventory. The amendments will be effective for the Company for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. The Company does not expect these amendments to have a material effect on its financial statements.

In January 2017, the FASB issued guidance to clarify the definitions of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendment to the Business Combinations Topic is intended to address concerns that the existing definition of a business has been applied too broadly and has resulted in many transactions being recorded as business acquisitions that in substance are more akin to asset acquisitions. The guidance will be effective for the Company for reporting periods beginning after December 15, 2017. Early adoption is permitted. The Company does not expect these amendments to have a material effect on its financial statements.

In January 2017, the FASB updated the Accounting Changes and Error Corrections and the Investments—Equity Method and Joint Ventures Topics of the Accounting Standards Codification. The ASU incorporates into the Accounting Standards Codification recent SEC guidance about disclosing, under SEC SAB Topic 11.M, the effect on financial statements of adopting the revenue, leases, and credit losses standards. The ASU was effective upon issuance. The Company is currently evaluating the impact on additional disclosure requirements as each of the standards is adopted, however it does not expect these amendments to have a material effect on its financial position, results of operations or cash flows.

In January 2017, the FASB amended the Goodwill and Other Topic of the Accounting Standards Codification to simplify the accounting for goodwill impairment for public business entities and other entities that have goodwill reported in their financial statements and have not elected the private company alternative for the subsequent measurement of goodwill. The amendment removes Step 2 of the goodwill impairment test. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. The effective date and transitionrequirementsfor the technical corrections will be effective for the Company for reportingperiodsbeginningafterDecember15,2019.EarlyadoptionispermittedforinterimorannualgoodwillimpairmenttestsperformedontestingdatesafterJanuary1,2017.TheCompanydoesnotexpecttheseamendmentstohaveamaterialeffectonitsfinancialstatements.

(Continued)

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Note1–BasisofPresentation,Continued

RecentlyIssuedAccountingStandards,continued

InFebruary2017,theFASBamendedtheOtherIncomeTopicoftheAccountingStandardsCodificationtoclarifythescopeoftheguidanceonnonfinancial asset de recognition as well as the accounting for partial sales of nonfinancial assets. The amendments conform the de recognition guidance on nonfinancial assets with the model for transactions in the new revenue standard. The amendments will be effective for the Company for reporting periods beginning after December 15, 2017.The Company does not expect these amendments to have a material effect on its financial statements.

Other accounting standards that have been issued or proposed by the FASB or other standards-settingstandards setting bodies are not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

Note 2 – Investment Properties

Investment properties leased or held for lease to others under operating leases consisted of the following at December 31, 2016June 30, 2017 and September 30, 2016:

Depreciationexpense totaled approximately $47,000 and $48,000 for the three-monththree month periods ended December 31,June 30, 2017 and 2016, and 2015,approximately $141,000 and $140,000 for the nine month periods ended June 30, 2017 and 2016, respectively.

National Plaza is a retail strip center located on Washington Road in Augusta Georgia. Approximately 81% of the rentable space at the National Plaza is leased to Publix Supermarkets, Inc., the National Plaza’s anchor tenant.

(Continued)

Note 2 – Investment Properties, Continued

The Company entered into a long-termlong term ground lease with a major national tenant and its developer in May 2006 on approximately 18 acres of land in Columbia County, Georgia. The agreement required monthly rental payments of $20,833 during the development period, which was completed in January 2007. Following the expiration of the development period, the lease required annual rental payments of $500,000 for the first 5 years then increasing 5% in years 6, 11,2013, 2018, and 16.2023. The lessee has an option to renew at year 21in 2028 and another option every 5 years thereafter for a possible total lease term of 50 years. The lease provides for the tenant to pay for insurance and property taxes. The Company is recognizing rents on a straight-linestraight line basis over the lease term.

In September of 2015, the Company purchased a commercial building consisting of approximately 25,000 square feet of retail space and 27,000 square feet of warehouse space on approximately 3.5 acres of land located on Wrightsboro Road. The retail space is currently leased to a local retailer and rent commenced on October 1, 2015. The related lease term is 10 years with annual rental payments totaling $142,000, paid monthly, increasing to $153,000 per year in 2021. The warehouse space wasis available for lease as of September 30, 2016.lease. The Company is recognizing rents on a straight-linestraight line basis over the lease term.

(Continued)

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Note2–InvestmentProperties,Continued

TheCompanyholdsseveralparcels of land for investment or development purposes, including 19.38 acres of land in North Augusta, South Carolina, purchased in parcels during 2007 and 2008. The Company also owns approximately 85 acres of land in south Richmond County, Georgia and a 1.1-acre1.1 acre parcel along Washington Road in Augusta, Georgia that adjoins the Company’s National Plaza investment property. The aggregate costs of these investment properties held for investment or development was $3,804,728 at December 31, 2016June 30, 2017 and September 30, 2016, respectively.

Refer to the Company’s Form 10-K10 K for the year ended September 30, 2016 for further information on operating lease agreements and land held for investment or development purposes.

Note 3 – Notes Payable and Line of Credit

Notes payable and line of credit consisted ofthefollowingat:

ManagementoftheCompanyexpectsfutureliquidityneedsoftheCompanytobefundedfromrentrevenues,refinancingandtheappreciationininvestmentproperties(whichcanbesoldormortgaged,ifnecessary).

(Continued)CurrentmaturitiesofnotespayableandlineofcreditwillrequiretheCompanytomakepaymentsoverthenext12monthstotaling$2,759,729.TheCompanyprojectsthatitwillbeabletofundthepaymentofitscurrentmaturitiesofnotespayablethroughcashflowsgeneratedfromitsoperationsandcashonhand,buttherecanbenoassurancethatthiswilloccur.TheCompanyplanstorefinancethelineofcredittoatermnote.

Note 3 – Notes Payable and Line of Credit, Continued

Management of the Company expects future liquidity needs of the Company to be funded from rent revenues, refinancing and the appreciation in investment properties (which can be sold or mortgaged, if necessary). 

Current maturities of notes payable will require the Company to make payments over the next 12 months totaling $253,483. The Company projects that it will be able to fund the payment of its current maturities of notes payable through cash flows generated from its operations and cash on hand, but there can be no assurance that this will occur.

In November of 2016, the Company obtained a $3,000,000 line of credit from a regional financial institution to finance a probable equity transaction. The Company has not used the line of credit. The line bears a rate of 3.5% and matures November 29, 2017. See Note 7 – Subsequent Event.

Note 4–IncomeTaxes

AtSeptember30,2016,theCompanyhadincometaxesreceivableof$22,441relatedtothefiscalyear2016.AsofJune30,2017,theCompanyhasincometaxespayableof$25,025relatedtothefiscalyear2017.

At September 30, 2016, the Company had income taxes receivable of $22,441 related to the fiscal year 2016. As of December 31, 2016, the Company has income taxes payable of $36,001, all of which was related to estimated taxes due for the fourth quarter of 2016 and was paid in full in January of 2017.- 9 -

Note5 - Concentrations

SubstantiallyalloftheCompany’sassetsconsistofrealestatelocatedinRichmondandColumbiaCountiesin the state of Georgia and in Aiken County, South Carolina. Substantially all of the Company’s revenues are earned from three of the Company’s investment properties, National Plaza, the Evans Ground Lease, and the Wrightsboro Road Lease, which comprise approximately 51%53%, 40%38% and 9% of the Company’s revenues, respectively, for the three-monthnine month period ended December 31, 2016.June 30, 2017. The anchor tenant for National Plaza, Publix Supermarkets, Inc. (“Publix”), a regional food supermarket chain, leases approximately 81% of the space at National Plaza. The Company generates approximately 31% of its revenues thoughthrough its lease with Publix.

Note 6 - Related Party Transactions

The Company purchases insurance from an insurance company of which a member of the Company’s Board of Directors is President Emeritus. The Company’s Board of Directors believes that the insurance prices obtained from the insurance company were not in excess of prices that would have been paid had the Company obtained this insurance from other sources.

This member of the Company’s Board of Directors sold his shares back to the Company during the quarter and subsequently is no longer a member of the Board of Directors.

During the quarter, the Company paid a stockholder who is also the son of the President for accounting services. The Company’s Board of Directors believes that the accounting services paid to the son of its President were not in excess of prices that would have been paid had the Company obtained accounting services from other sources.

See Note 8 – Subsequent Events.

Note 7 – Subsequent EventShareholders’ Equity

On February 7, 2017, Security Land &and Development Corporation offered to purchase up to 2,526,247 shares (approximately 48.2% of the Company’s outstanding shares) of its common stock from its stockholders through a tender offer (“the Offer”) at a price of $1.25 per share. The Offer is part of a plan intended to enhance stockholder value and provide liquidity for the stockholders. The Offer expiresexpired on March 15, 2017, unlesswas extended by the Company.Company, and on April 19, 2017 Security Land and Development Corporation amended the above offer to increase the offer price to $1.60 per share. The amended Offer expired on May 5, 2017. On May 5, 2017, Security Land and Development Corporation amended the April 19, 2017 Offer to increase the offer price to $1.75 per share. Within the offer period, 192,860 shares were sold by members of the Board of Directors who are not part of the Flanagin family. As of June 30, 2017, the percentage of common stock owned by the Flanagin Family was 58.7%. The Company purchased and retired a total of 1,265,918 shares of its stock for $2,215,387. The Company utilized funds procured from a line of credit as noted above in Note 3 – Notes Payable and Line of Credit.

Note 8 – Subsequent Events

On July 5, 2017, a member of the Flanagin family who is also a member of the Company’s Board of Directors, elected to sell 80,500 shares, a portion of his holding in the Company, back to the company for $1.75 per share or $140,875.

On July 5, 2017, another member of the Flanagin family who is also a member of the Company’s Board of Directors, elected to sell 80,000 shares, a portion of his holding in the Company, back to the company for $1.75 per share or $140,000.

The Flanagin family’s ownership percentage of common stock decreased to 56.9% after two Flanagin family members sold thecommon

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Management’sDiscussionandAnalysisofFinancialConditionandResultsofOperations

ResultsofOperations:

TheCompany’sresultsofoperationsforthe three months ended December 31, nine monthsendedJune30,2017,andacomparativeanalysisofthesameperiodfor2016 and a comparative analysis of the same period for 2015 arepresentedbelow:

CautionaryNoteRegarding Forward-Looking ForwardLookingStatements:

The results of operations for the threenine months ended December 31, 2016June 30, 2017 are not necessarily indicative of the results that may be expected for the entire fiscal year. The Company may, from time to time, make written or oral forward-lookingforward looking statements, including statements contained in the Company’s filings with the Securities and Exchange Commission (the “Commission”) and its reports to stockholders. Such forward-lookingforward looking statements are made based on management’s belief as well as assumptions made by, and information currently available to, management pursuant to “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The Company’s actual results may differ materially from the results anticipated in these forward-lookingforward looking statements due to a variety of factors, including, but not limited to, competition from other real estate companies, the ability of the Company to obtain financing for projects, and the continuing operations of tenants.

Item 3. Quantitative and Qualitative Disclosures About Market Risks

Not applicable to smaller reporting companiescompanies.

Item 4.4. Controls and Procedures

(a)  Within the 90 days prior to the filing date of this report, the Company carried out an evaluation, under the supervision and with the participation of the Company’s management, including the Company’s Chief Executive Officer, of the effectiveness of the design and operation of the Company’s disclosure controls and procedures pursuant to Rules 13a-15(e)13a 15(e) and 15d-15(e)15d 15(e) under the Securities and Exchange Act of 1934. Based upon that evaluation, the Company’s Chief Executive Officer concluded that the Company’s disclosure controls and procedures were ineffective.

(b)  There were no significant changes in the Company’s internal controls over financial reporting or in other factors that could significantly affect these controls subsequent to the date the Chief Executive Officer carried out the evaluation.

As of September 30, 2016, the Company’s management evaluated the effectiveness of its internal control. Based on the evaluation, the Company’s management concluded that the Company’s internal control over financial reporting was ineffective as of September 30, 2016 and identified a material weakness related to the lack of segregation of duties, accounting personnel with the requisite knowledge of GAAP and the lack of written policies and procedures over financial reporting.

Notwithstanding the existence of this material weakness in our internal control over financial reporting, our management believes that the consolidated financial statements included in its reports fairly present in all material respects the Company’s financial condition, results of operations and cash flows for the periods presented. There has been no change in the Company’s internal control over financial reporting that occurred during the Company’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

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PART II - OTHER INFORMATION

Item1.Item  1. Legal Proceedings

None

Item1A.Item  1A. Risk Factors

The Company, as a smaller reporting company, is not required to provide the information required by this item.

Item2.Item  2. Unregistered Sales of Equity Securities and Use of Proceeds

None

Item3.Item  3. Defaults Upon Senior Securities

None

Item4.Item  4. Reserved for Future Use

Item5.Item  5. Other Information

Management of the Company notes that no Forms 8-K8 K were filed during the period and Management is not aware of any un-reportedun reported matters occurring during the period that would require disclosure in a Form 8-K. 

8 K.

Item6.Item  6. Exhibits

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SIGNATURES

In accordancewiththerequirementsoftheExchangeAct,theregistrantcausedthisreporttobesignedonitsbehalfbytheundersigned,thereuntodulyauthorized.

SECURITYLANDANDDEVELOPMENTCORPORATION
(Registrant)

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SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SECURITY LAND AND DEVELOPMENT CORPORATION

(Registrant)