$ATVK
Ameritek Ventures, Inc.

2024 Q2 Form 10-Q Financial Statement

#000137647424000247 Filed on May 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $186.9K $215.9K
YoY Change -31.85% -10.89%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $134.0K $143.5K
YoY Change -49.4% -9.19%
% of Gross Profit
Research & Development $93.87K $102.8K
YoY Change -48.27% -14.11%
% of Gross Profit
Depreciation & Amortization $10.04K $10.05K
YoY Change -0.1% -80.87%
% of Gross Profit
Operating Expenses $144.1K $153.6K
YoY Change -47.59% -27.06%
Operating Profit $42.86K $62.36K
YoY Change -7255.43% 96.28%
Interest Expense $46.47K $42.66K
YoY Change 27.38% 10.73%
% of Operating Profit 108.43% 68.41%
Other Income/Expense, Net
YoY Change
Pretax Income -$3.610K $19.70K
YoY Change -90.26% -391.42%
Income Tax
% Of Pretax Income
Net Earnings -$3.612K $19.70K
YoY Change -90.26% -391.51%
Net Earnings / Revenue -1.93% 9.12%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 554.2M shares 554.2M shares
Diluted Shares Outstanding 613.2M shares 554.2M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.220K $2.250K
YoY Change -19.57% 294.74%
Cash & Equivalents $2.218K $2.245K
Short-Term Investments
Other Short-Term Assets $1.520K $1.520K
YoY Change 0.0% 0.0%
Inventory
Prepaid Expenses $1.519K $1.519K
Receivables $63.29K $128.9K
Other Receivables $0.00 $0.00
Total Short-Term Assets $67.03K $132.6K
YoY Change 0.75% 42.79%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $0.00
YoY Change
Goodwill $2.185M $2.185M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $661.9K $661.9K
YoY Change 0.0% 0.0%
Other Assets $504.0K $514.1K
YoY Change -7.38% -81.23%
Total Long-Term Assets $3.632M $3.644M
YoY Change -0.24% -0.19%
TOTAL ASSETS
Total Short-Term Assets $67.03K $132.6K
Total Long-Term Assets $3.632M $3.644M
Total Assets $3.699M $3.777M
YoY Change -0.22% 0.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $587.5K $615.7K
YoY Change -46.31% -34.98%
Accrued Expenses $555.4K $530.0K
YoY Change 14.24% 16.08%
Deferred Revenue
YoY Change
Short-Term Debt $21.00K $21.00K
YoY Change 0.0% 0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.498M $1.608M
YoY Change -19.02% -9.63%
LONG-TERM LIABILITIES
Long-Term Debt $1.974M $1.961M
YoY Change 23.16% 17.22%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.974M $1.961M
YoY Change 23.16% 17.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.498M $1.608M
Total Long-Term Liabilities $1.974M $1.961M
Total Liabilities $3.472M $3.569M
YoY Change 0.56% 3.38%
SHAREHOLDERS EQUITY
Retained Earnings -$2.363M -$2.360M
YoY Change -0.04% 1.39%
Common Stock $613.2K $583.2K
YoY Change 19.25% 13.42%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $227.0K $207.8K
YoY Change
Total Liabilities & Shareholders Equity $3.699M $3.777M
YoY Change -0.22% 0.88%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$3.612K $19.70K
YoY Change -90.26% -391.51%
Depreciation, Depletion And Amortization $10.04K $10.05K
YoY Change -0.1% -80.87%
Cash From Operating Activities -$30.36K -$16.78K
YoY Change -141.97% -120.21%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
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 30.33K $13.41K
YoY Change -143.24% -116.11%
NET CHANGE
Cash From Operating Activities -30.36K -$16.78K
Cash From Investing Activities 0.000 $0.00
Cash From Financing Activities 30.33K $13.41K
Net Change In Cash -30.00 -$3.373K
YoY Change -101.37% 1784.36%
FREE CASH FLOW
Cash From Operating Activities -$30.36K -$16.78K
Capital Expenditures $0.00 $0.00
Free Cash Flow -$30.36K -$16.78K
YoY Change -141.97% -120.21%

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>
CY2024Q1 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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0 usd
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
43245 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
43245 usd
CY2023Q4 fil Product Development Costs
ProductDevelopmentCosts
602722 usd
CY2024Q1 fil Product Development Addition
ProductDevelopmentAddition
0 usd
CY2024Q1 fil Product Development Costs
ProductDevelopmentCosts
602722 usd
CY2023Q4 fil Product Development Total Amortizatiion
ProductDevelopmentTotalAmortizatiion
78605 usd
CY2024Q1 fil Product Development Amortization
ProductDevelopmentAmortization
10045 usd
CY2024Q1 fil Product Development Total Amortizatiion
ProductDevelopmentTotalAmortizatiion
10045 usd
CY2024Q1 fil Product Development Net Book Value
ProductDevelopmentNetBookValue
514702 usd
CY2023Q4 fil Goodwill Total Cost
GoodwillTotalCost
3150159 usd
CY2024Q1 fil Transfer To Goodwill
TransferToGoodwill
2184715 usd
CY2024Q1 fil Goodwill Total Cost
GoodwillTotalCost
965444 usd
CY2023Q4 fil Goodwill Book Value
GoodwillBookValue
2791472 usd
CY2024Q1 us-gaap Debt Instrument Issuer
DebtInstrumentIssuer
Ameritek
CY2024Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
185000 usd
CY2024Q1 us-gaap Debt Instrument Description
DebtInstrumentDescription
non-convertible promissory note
CY2024Q1 us-gaap Debt Instrument Issuance Date1
DebtInstrumentIssuanceDate1
2021-05-13
CY2024Q1 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.15 pure
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
24966 usd
CY2024Q1 us-gaap Interest Payable Current
InterestPayableCurrent
3996 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
24596 usd
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
3596 usd
CY2024Q1 fil Promissory Notes Current
PromissoryNotesCurrent
0 usd
CY2023Q4 fil Promissory Notes Current
PromissoryNotesCurrent
0 usd
CY2024Q1 fil Promissory Notes Non Current
PromissoryNotesNonCurrent
1960746 usd
CY2023Q4 fil Promissory Notes Non Current
PromissoryNotesNonCurrent
1933448 usd
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
529988 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
547204 usd
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
950000000 shares
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
950000000 shares
CY2024Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
583226791 shares
CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
583226791 shares
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
CY2023Q1 fil Accounts Payable Balance
AccountsPayableBalance
1158694 usd
CY2023Q1 fil Accounts Payable Balance Net
AccountsPayableBalanceNet
816314 usd
CY2024Q1 us-gaap Loss Contingency Actions Taken By Plaintiff
LossContingencyActionsTakenByPlaintiff
Meridian Pacific Holdings, LLC filed a lawsuit against certain directors, officers, affiliates, and the Company for breach of contract and fraud
CY2024Q1 us-gaap Loss Contingency Name Of Plaintiff
LossContingencyNameOfPlaintiff
Meridian Pacific Holdings, LLC
CY2024Q1 us-gaap Loss Contingency Allegations
LossContingencyAllegations
breach of contract and fraud
CY2024Q1 us-gaap Gain Contingency Description
GainContingencyDescription
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
CY2023Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
0 usd

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