Mill City Ventures III: Declaration of Change of Beneficial Ownership – Form 4







Property Submission

FORM 4

Check this box if you are no longer subject to section 16, the obligations of Form 4 or Form 5 may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN THE EFFECTIVE BENEFICIARIES OF THE SHARES Filed under Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and address of reporting person *

POLINSKY DOUGLAS MICHEL

2. Name of issuer and stock symbol or trading symbol
Mill City Ventures III, Ltd. [MCVT]

5. Relationship between the reporting person(s) and the issuer
(Check all that apply)

__X__ Director

_____ 10% Owner

_____ Officer (indicate title below)

_____ Other (specify below)

Chief executive officer /

(Last)

(First)

(Environment)

130 LAKE ST. WEST

3. Date of first transaction (month/day/year)

(Street)

WAYZATA

MN

55391

4. In case of modification, date of filing of the original (month/day/year)

6. Individual or joint/group filing (check applicable row)
_X_ Form filed by a reporting person
___ Form filed by more than one declarant

Table I – Non-derivative securities acquired, sold or beneficially owned

1. Title of guarantee

2. Transaction date (month/day/year)

2A. Deemed execution date, if applicable (month/day/year)

3. Transaction code

4. Securities acquired (A) or transferred (D)

5. Amount of securities beneficially owned as a result of the reported transaction(s)

6. Form of ownership: direct (D) or indirect (I)

7. Nature of Indirect Beneficial Ownership

Coded

V

Rising

(A) or (D)

Price

Table II – Beneficial ownership derivative securities (for exampleputs, calls, warrants, options, convertible securities)
(for exampleputs, calls, warrants, options, convertible securities)

1. Title of derivative title

2. Conversion or exercise price of the derivative security

3. Transaction date (month/day/year)

3A. Deemed execution date, if applicable (month/day/year)

4. Transaction code

5. Number of derivative securities acquired (A) or sold (D)

6. Exercise date and expiry date

7. Title and amount of the securities underlying the derivative securities

8. Price of derivative securities

9. Number of derivative securities beneficially owned as a result of reported transactions

10. Form of ownership of derivative securities: direct (D) or indirect (I)

11. Nature of Indirect Beneficial Ownership

Coded

V

(A)

(D)

Exercise date

Expiration date

Title

Amount or number of shares

Reporting owners

Name/address of declaring owner Relationships

Director

10% Owner

Officer

Other

POLINSKY DOUGLAS MICHEL
130 LAKE ST. WEST

WAYZATA, MN55391

X

Chief executive officer

Signatures

/s/ Douglas M. Polinsky

2022-09-16

**Signature of declaring person

Date

Explanation of answers:

If the form is completed by several declarants, see

Section 5(b)(v).

(**) Intentional misrepresentation or omission of facts are federal criminal offenses. See

18 USC 1001 and 15 USC 78ff(a).

(1)

A Minnesota corporation whose reporting person is the CEO.

(2)

A Minnesota limited liability company of which the reporting person is a member and manager. The declarant disclaims beneficial ownership of such shares except to the extent of its pecuniary interest.

(3)

Of the reported amount, 10,000 common shares are held subject to forfeiture pursuant to a restricted stock agreement with the issuer pursuant to which all such shares must vest and the forfeiture restrictions expire on January 24, 2023. Note: Submit three copies of this form, one of which must be manually signed. If space is insufficient, See

Instruction 6 for the procedure. Potential individuals who need to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.

Disclaimer Mill City Ventures III Ltd. published this content on September 16, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, onSeptember 16, 2022 6:29:02 PM UTC

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Public now 2022

All news from MILL CITY VENTURES III, LTD.

Sales 2021
2.66 million
Net income 2021
2.83 million
Net cash 2021
1.93 million
PER 2021 ratio
14.0x 2021 performance
Capitalization
11.2 million
11.2 million
EV / Sales 2020
18.1x EV / Sales 2021
14.1x # of employees
2 Floating

31.0%

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