Page 1

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON , D.C. 20549 FORM 10 - K ( Mark One ) X ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31 , 2020 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Minnesota Commission File Number 814-00991 MILL CITY VENTURES III , LTD . ( Exact name of registrant as specified in its charter ) 90-0316651 ( I.R.S. Employer Identification No. ) ( State of incorporation ) 1907 Wayzata Blvd # 205 Wayzata , Minnesota ( Address of principal executive offices ) Former name , former address and former fiscal year , if changed since last report 55391 ( Zip Code ) Registrant's telephone number , including area code : ( 952 ) 479-1923 Securities registered pursuant to Section 12 ( b ) of the Act : Title of Each Class Name of Each Exchange on which Registered None Securities registered pursuant to Section 12 ( g ) of the Act : Common stock , $ 0.001 par value per share Indicate by check mark if the registrant is a well - known seasoned issuer , as defined in Rule 405 of the Securities Act . Yes ¨ No x Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15 ( d ) of the Act . Yes ¨ No x Indicate by check mark whether the registrant ( 1 ) has filed all reports required to be filed by Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 during the preceding 12 months ( or for such shorter period that the registrant was required to file such reports ) , and ( 2 ) has been subject to the filing requirements for the past 90 days . x Yes ¨ No 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 ) . x Yes ¨ No 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 definition of “ large accelerated filer , " " accelerated filer , " " non accelerated filer , " and " smaller reporting company " in Rule 12b - 2 of the Exchange Act . ( Check one ) Large accelerated filer " Accelerated filer " Non - accelerated filer x Smaller reporting company x Indicate by check mark whether the registrant is a shell company ( as defined in Rule 12b - 2 of the Act ) . " Yes x No The aggregate market value of the voting stock held by persons other than officers , directors and more than 5 % shareholders of the registrant as of June 30 , 2020 was approximately $ 1,512,115 based on the closing sales price of $ 0.60 per share as reported on the OTCPK . As of March 10 , 2021 , there were 10,785,913 shares of the registrant's common stock , $ 0.001 par value , outstanding . None . DOCUMENTS INCORPORATED IN PART BY REFERENCE