2023 Q4 Form 10-K Financial Statement
#000137647424000150 Filed on April 01, 2024
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% |
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Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
|
-235491 | usd |
CY2022 | us-gaap |
Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
|
141124 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-23009 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
278115 | usd |
CY2023 | fil |
Product Development Expenditures
ProductDevelopmentExpenditures
|
0 | usd |
CY2022 | fil |
Product Development Expenditures
ProductDevelopmentExpenditures
|
-36071 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
0 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-3607 | usd |
CY2023 | us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
243613 | usd |
CY2022 | us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
37000 | usd |
CY2023 | us-gaap |
Repayments Of Other Debt
RepaymentsOfOtherDebt
|
215737 | usd |
CY2022 | us-gaap |
Repayments Of Other Debt
RepaymentsOfOtherDebt
|
306979 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
27876 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-269979 | usd |
CY2023 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
4867 | usd |
CY2022 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-27935 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
751 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
28686 | usd |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
5618 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
751 | usd |
CY2023 | us-gaap |
Interest Paid
InterestPaid
|
152715 | usd |
CY2022 | us-gaap |
Interest Paid
InterestPaid
|
152803 | usd |
CY2023 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
0 | usd |
CY2022 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
444 | usd |
CY2023 | us-gaap |
Other Significant Noncash Transaction Value Of Consideration Received1
OtherSignificantNoncashTransactionValueOfConsiderationReceived1
|
0 | usd |
CY2022 | us-gaap |
Other Significant Noncash Transaction Value Of Consideration Received1
OtherSignificantNoncashTransactionValueOfConsiderationReceived1
|
661886 | usd |
CY2023 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<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> | |
CY2023 | dei |
Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
|
2010-12-27 | |
CY2023 | dei |
Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
NV | |
CY2023 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<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> | |
CY2023 | us-gaap |
Advertising Expense
AdvertisingExpense
|
7212 | usd |
CY2023Q4 | us-gaap |
Furniture And Fixtures Gross
FurnitureAndFixturesGross
|
7694 | usd |
CY2022Q4 | us-gaap |
Furniture And Fixtures Gross
FurnitureAndFixturesGross
|
7694 | usd |
CY2023Q4 | us-gaap |
Machinery And Equipment Gross
MachineryAndEquipmentGross
|
28568 | usd |
CY2022Q4 | us-gaap |
Machinery And Equipment Gross
MachineryAndEquipmentGross
|
28568 | usd |
CY2023Q4 | us-gaap |
Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
|
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 |