2023 Q4 Form 10-K Financial Statement

#000137647424000150 Filed on April 01, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023 2022
Revenue $246.5K $949.4K $1.076M
YoY Change -11.79%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $140.0K $740.3K $1.214M
YoY Change -39.0%
% of Gross Profit
Research & Development $516.5K $902.1K
YoY Change -42.75%
% of Gross Profit
Depreciation & Amortization $11.90K $84.49K $204.9K
YoY Change -58.77%
% of Gross Profit
Operating Expenses $150.1K $822.9K $1.418M
YoY Change -41.99%
Operating Profit $126.5K -$342.2K
YoY Change -136.98%
Interest Expense -$72.74K -$185.5K $509.1K
YoY Change -136.43%
% of Operating Profit -146.55%
Other Income/Expense, Net -$185.5K $509.1K
YoY Change -136.43%
Pretax Income $23.69K -$58.91K $166.9K
YoY Change -135.3%
Income Tax
% Of Pretax Income
Net Earnings $23.69K -$58.91K $166.9K
YoY Change -135.3%
Net Earnings / Revenue 9.61% -6.2% 15.51%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 514.2M shares 554.2M shares 514.2M shares
Diluted Shares Outstanding 554.2M shares 514.2M shares

Balance Sheet

Concept 2023 Q4 2023 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.620K $5.620K $750.00
YoY Change 649.33%
Cash & Equivalents $5.618K
Short-Term Investments
Other Short-Term Assets $1.520K $1.520K $1.520K
YoY Change 0.0%
Inventory
Prepaid Expenses $1.519K
Receivables $132.4K $132.4K $374.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $139.5K $139.5K $376.3K
YoY Change -62.92% -62.92%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $0.00 $0.00
YoY Change
Goodwill $2.185M
YoY Change
Intangibles
YoY Change
Long-Term Investments $661.9K $661.9K $661.9K
YoY Change 0.0%
Other Assets $35.11K $35.11K $0.00
YoY Change -98.74%
Total Long-Term Assets $3.656M $3.656M $3.703M
YoY Change -1.28% -1.28%
TOTAL ASSETS
Total Short-Term Assets $139.5K $139.5K $376.3K
Total Long-Term Assets $3.656M $3.656M $3.703M
Total Assets $3.795M $3.795M $4.080M
YoY Change -6.97% -6.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $987.1K $987.1K $1.191M
YoY Change -17.12% -17.12%
Accrued Expenses $547.2K $547.2K $426.8K
YoY Change 28.2% 28.2%
Deferred Revenue
YoY Change
Short-Term Debt $21.00K $21.00K $21.00K
YoY Change 0.0% 0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.706M $1.706M $2.025M
YoY Change -15.75% -15.75%
LONG-TERM LIABILITIES
Long-Term Debt $1.933M $1.933M $1.756M
YoY Change 10.11%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.933M $1.933M $1.756M
YoY Change 10.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.706M $1.706M $2.025M
Total Long-Term Liabilities $1.933M $1.933M $1.756M
Total Liabilities $3.640M $3.640M $3.781M
YoY Change -3.74% -3.74%
SHAREHOLDERS EQUITY
Retained Earnings -$2.379M
YoY Change 2.54%
Common Stock $554.2K
YoY Change 7.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $155.6K $155.6K $298.4K
YoY Change
Total Liabilities & Shareholders Equity $3.795M $3.795M $4.080M
YoY Change -6.97% -6.97%

Cashflow Statement

Concept 2023 Q4 2023 2022
OPERATING ACTIVITIES
Net Income $23.69K -$58.91K $166.9K
YoY Change -135.3%
Depreciation, Depletion And Amortization $11.90K $84.49K $204.9K
YoY Change -58.77%
Cash From Operating Activities -$196.3K -$23.01K $278.1K
YoY Change -108.27%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $36.07K
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00 -$36.07K
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 194.4K 27.88K -270.0K
YoY Change -110.33%
NET CHANGE
Cash From Operating Activities -196.3K -23.01K 278.1K
Cash From Investing Activities 0.000 0.000 -36.07K
Cash From Financing Activities 194.4K 27.88K -270.0K
Net Change In Cash -1.880K 4.870K -27.93K
YoY Change -117.44%
FREE CASH FLOW
Cash From Operating Activities -$196.3K -$23.01K $278.1K
Capital Expenditures $0.00 $0.00 $36.07K
Free Cash Flow -$196.3K -$23.01K $242.1K
YoY Change -109.51%

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. We also develop blockchain technology software programs under WebBeeO and CordTell companies. Furthermore, Ameritek Ventures explores augmented reality technology with 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. ESM Software, Inc. is a software technology provider specializing in developing business strategy management solutions. The Company also recently created a new business, Equock, Inc., with which Ameritek will develop an electric bicycle with a focus on the growing online delivery industry.</p>
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CY2023Q4 us-gaap Capitalized Computer Software Net
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4200 usd
CY2022Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
4200 usd
CY2023Q4 us-gaap Capital Leased Assets Gross
CapitalLeasedAssetsGross
2783 usd
CY2022Q4 us-gaap Capital Leased Assets Gross
CapitalLeasedAssetsGross
2783 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
43245 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
43245 usd
CY2023Q4 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
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
0 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
0 usd
CY2022Q4 fil Product Development Costs
ProductDevelopmentCosts
3150159 usd
CY2023 us-gaap Goodwill Transfers
GoodwillTransfers
2184715 usd
CY2023Q4 fil Product Development Costs
ProductDevelopmentCosts
965444 usd
CY2022Q4 fil Product Development Cost Book Value
ProductDevelopmentCostBookValue
2791472 usd
CY2022Q4 fil Product Development Total Amortizatiion
ProductDevelopmentTotalAmortizatiion
358687 usd
CY2023 fil Product Development Cost Amortization Transfer To Goodwill
ProductDevelopmentCostAmortizationTransferToGoodwill
2184716 usd
CY2023 fil Product Development Amortization
ProductDevelopmentAmortization
82637 usd
CY2023Q4 fil Product Development Total Amortizatiion
ProductDevelopmentTotalAmortizatiion
441324 usd
CY2023Q4 fil Product Development Net Book Value
ProductDevelopmentNetBookValue
524119 usd
CY2023 us-gaap Debt Instrument Issuance Date1
DebtInstrumentIssuanceDate1
2021-05-13
CY2023 us-gaap Debt Instrument Issuer
DebtInstrumentIssuer
Ameritek
CY2023Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
185000 usd
CY2023 us-gaap Debt Instrument Description
DebtInstrumentDescription
non-convertible promissory note
CY2023Q4 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.15 pure
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
24596 usd
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
3596 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
23167 usd
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
2167 usd
CY2023Q4 fil Promissory Notes Current
PromissoryNotesCurrent
0 usd
CY2022Q4 fil Promissory Notes Current
PromissoryNotesCurrent
0 usd
CY2023Q4 fil Promissory Notes Non Current
PromissoryNotesNonCurrent
1933448 usd
CY2022Q4 fil Promissory Notes Non Current
PromissoryNotesNonCurrent
1755899 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
547204 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
424675 usd
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
950000000 shares
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
950000000 shares
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
554226791 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
554226791 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
CY2023 us-gaap Loss Contingency Lawsuit Filing Date
LossContingencyLawsuitFilingDate
May 6, 2019
CY2023 us-gaap Loss Contingency Actions Taken By Plaintiff
LossContingencyActionsTakenByPlaintiff
Meridian Pacific Holdings, LLC filed a lawsuit against certain directors, officers, affiliates, and the Company
CY2023 us-gaap Loss Contingency Name Of Plaintiff
LossContingencyNameOfPlaintiff
Meridian Pacific Holdings, LLC
CY2023 us-gaap Loss Contingency Allegations
LossContingencyAllegations
breach of contract and fraud
CY2023 us-gaap Loss Contingency Domicile Of Litigation
LossContingencyDomicileOfLitigation
Superior Court of the State of California, County of Los Angeles
CY2023 us-gaap Gain Contingency Description
GainContingencyDescription
On March 6, 2021, 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
CY2022 us-gaap Other Significant Noncash Transaction Value Of Consideration Received1
OtherSignificantNoncashTransactionValueOfConsiderationReceived1
661886 usd
CY2022 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
661887 usd
CY2022 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
661887 usd
CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
0 usd
CY2023 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 usd
CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 usd

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