$ATVK
Ameritek Ventures, Inc.

2023 Q3 Form 10-Q Financial Statement

#000137647423000405 Filed on August 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q4
Revenue $186.3K $274.3K
YoY Change -67.62% 47.3%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $177.3K $264.8K
YoY Change
% of Gross Profit
Research & Development $105.5K $181.4K
YoY Change -80.72% 112.03%
% of Gross Profit
Depreciation & Amortization $10.04K $10.05K
YoY Change
% of Gross Profit
Operating Expenses $187.4K $274.9K
YoY Change -72.46% 3.35%
Operating Profit -$1.051K -$599.00
YoY Change -99.0% -99.25%
Interest Expense $37.71K $36.48K
YoY Change 0.37% -5.15%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$38.76K -$37.08K
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$38.76K -$37.08K
YoY Change -268.32% -178.49%
Net Earnings / Revenue -20.8% -13.52%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 514.2M shares 514.2M shares
Diluted Shares Outstanding 514.2M shares 514.2M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.500K $2.760K
YoY Change
Cash & Equivalents $7.497K $2.758K $751.00
Short-Term Investments
Other Short-Term Assets $1.520K $1.520K
YoY Change
Inventory
Prepaid Expenses $1.521K $1.520K $1.519K
Receivables $74.94K $62.25K $374.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $83.96K $66.53K $376.3K
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $0.00 $0.00
YoY Change
Goodwill $2.185M $2.185M $0.00
YoY Change
Intangibles
YoY Change
Long-Term Investments $661.9K $661.9K
YoY Change
Other Assets $534.2K $544.2K $2.791M
YoY Change
Total Long-Term Assets $3.631M $3.641M $3.703M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $83.96K $66.53K $376.3K
Total Long-Term Assets $3.631M $3.641M $3.703M
Total Assets $3.715M $3.707M $4.080M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.166M $1.094M $1.191M
YoY Change
Accrued Expenses $205.3K $486.2K $426.8K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $21.00K $21.00K $21.00K
YoY Change
Long-Term Debt Due $89.10K $80.11K
YoY Change
Total Short-Term Liabilities $1.910M $1.850M $2.025M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $1.589M $1.603M
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.589M $1.603M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.910M $1.850M $2.025M
Total Long-Term Liabilities $1.589M $1.603M
Total Liabilities $3.499M $3.453M $3.781M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$2.403M -$2.364M -$2.320M
YoY Change
Common Stock $514.2K $514.2K $514.2K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $215.8K $254.5K $298.4K
YoY Change
Total Liabilities & Shareholders Equity $3.715M $3.707M $4.080M
YoY Change

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q4
OPERATING ACTIVITIES
Net Income -$38.76K -$37.08K
YoY Change -268.32% -178.49%
Depreciation, Depletion And Amortization $10.04K $10.05K
YoY Change
Cash From Operating Activities $17.87K $72.34K
YoY Change
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -13.13K -70.15K
YoY Change
NET CHANGE
Cash From Operating Activities 17.87K 72.34K
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities -13.13K -70.15K
Net Change In Cash 4.740K 2.190K
YoY Change
FREE CASH FLOW
Cash From Operating Activities $17.87K $72.34K
Capital Expenditures $0.00
Free Cash Flow $72.34K
YoY Change

Facts In Submission

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<p style="font:9pt Times New Roman;margin-top:0pt;margin-bottom:10pt;margin-left:18pt"><kbd style="position:absolute;font:9pt Times New Roman;margin-left:-18pt"><b>1.</b></kbd><b>GENERAL ORGANIZATION AND BUSINESS</b> </p> <p style="font:9pt Times New Roman;margin:0;text-align:justify">The Company was organized on December 27, 2010, under the laws of the State of Nevada, as ATVROCKN. On June 20, 2017, the Company changed its corporate name to Ameritek Ventures, Inc (“Ameritek Ventures” or “Ameritek” or the “Company”).</p> <p style="font:9pt Times New Roman;margin:0;text-align:justify"> </p> <p style="font:9pt Times New Roman;margin:0;text-align:justify">Ameritek is a group of companies that provides various world-class software and hardware products and services beneficial to businesses, organizations, and governments. We have an established presence in the warehouse solutions market. With Interactive Systems, Inc. we provide software inventory management and with interlinkONE, Inc. we provide SaaS cloud-based solutions for warehouse and inventory fulfillment. We manufacture and innovate advanced technological developments in the medical industry, such as the DittoMask high filtration mask and FlexFridge portable medical use mini-fridge. We also develop blockchain technology software programs under WebBeeo and CordTell companies. Furthermore, Ameritek Ventures explores augmented reality technology with Passley, Inc., and Augmum, Inc. Meanwhile, our vertical landing aircraft service from AeroPass, Inc. takes ZenaDrone technology to a higher level with members-only passenger first-class transport across cities. Ecker Capital, LLC, is our merger and acquisition division. The Company also recently created a new business, Equock, Inc., with which the Company will develop an electric bicycle with focus on the growing online delivery industry.</p>
dei Entity Incorporation Date Of Incorporation
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<p style="font:9pt Times New Roman;margin:0;text-align:justify"><b>Use of Estimates</b></p> <p style="font:9pt Times New Roman;margin:0;text-align:justify">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p>
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CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
43245 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
43245 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
43245 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
0 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
0 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
43245 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
43245 usd
CY2022Q4 fil Promissory Notes Current
PromissoryNotesCurrent
0 usd
CY2023Q2 fil Promissory Notes Non Current
PromissoryNotesNonCurrent
1602520 usd
CY2022Q4 fil Promissory Notes Non Current
PromissoryNotesNonCurrent
1755899 usd
CY2023Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
80109 usd
us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
483697 usd
CY2022 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
424675 usd
CY2022Q4 fil Product Development Costs
ProductDevelopmentCosts
965443 usd
fil Product Development Addition
ProductDevelopmentAddition
0 usd
CY2023Q2 fil Product Development Costs
ProductDevelopmentCosts
965443 usd
CY2022Q4 fil Product Development Total Amortizatiion
ProductDevelopmentTotalAmortizatiion
358687 usd
fil Product Development Amortization
ProductDevelopmentAmortization
10045 usd
CY2023Q2 fil Product Development Total Amortizatiion
ProductDevelopmentTotalAmortizatiion
62548 usd
CY2023Q2 fil Product Development Net Book Value
ProductDevelopmentNetBookValue
544208 usd
us-gaap Debt Instrument Issuance Date1
DebtInstrumentIssuanceDate1
2021-05-13
us-gaap Debt Instrument Issuer
DebtInstrumentIssuer
Ameritek
CY2023Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
185000 usd
us-gaap Debt Instrument Description
DebtInstrumentDescription
non-convertible promissory note
CY2023Q2 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.15 pure
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
23511 usd
CY2023Q2 us-gaap Interest Payable Current
InterestPayableCurrent
2511 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
23167 usd
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
2167 usd
us-gaap Other Significant Noncash Transaction Value Of Consideration Received1
OtherSignificantNoncashTransactionValueOfConsiderationReceived1
661886 usd
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
950000000 shares
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
950000000 shares
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
514226791 shares
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
514226791 shares
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
950000000 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
514226791 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
514226791 shares
us-gaap Loss Contingency Lawsuit Filing Date
LossContingencyLawsuitFilingDate
May 6, 2019
us-gaap Loss Contingency Actions Taken By Plaintiff
LossContingencyActionsTakenByPlaintiff
Meridian Pacific Holdings, LLC filed a lawsuit against certain directors, officers, affiliates, and the Company
us-gaap Loss Contingency Name Of Plaintiff
LossContingencyNameOfPlaintiff
Meridian Pacific Holdings, LLC
us-gaap Loss Contingency Allegations
LossContingencyAllegations
breach of contract and fraud
us-gaap Loss Contingency Domicile Of Litigation
LossContingencyDomicileOfLitigation
Superior Court of the State of California, County of Los Angeles
us-gaap Gain Contingency Description
GainContingencyDescription
On March 6, 2023, the Company filed a lawsuit in the Clark County, Nevada, court against Clinton L. Stokes, III, the former owner of the Company, to settle the matter of shares ownership
us-gaap Other Significant Noncash Transaction Value Of Consideration Received1
OtherSignificantNoncashTransactionValueOfConsiderationReceived1
661886 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
661887 usd
us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
0 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
661887 usd
CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
0 usd

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