Thu, Jun 5, 10:01 AM (38 days ago)
**Ameritek Ventures, Inc. (ATVK) Financial Summary** **Financial Performance:** - **Revenue:** $678,300 for 2024, down 29% from $949,438 in 2023 due to the sale of Interactive Systems and interlinkONE. - **Net Income:** $4,496,799 in 2024, a significant improvement from a net loss of $58,910 in 2023, primarily due to a gain on asset disposal. - **Operating Expenses:** Decreased by 44% in 2024, largely due to reduced development and support costs, and general and administrative expenses. **Earnings per Share:** - **Basic and Diluted Earnings per Share:** $0.01 for 2024, compared to $(0.00) in 2023. **Strategic Overview:** - **Divestitures:** Sold Ecker Capital, LLC to ZenaTech, Inc., a related party, on October 1, 2024. - **Business Segments:** Operates in various sectors including software, hardware, medical technology, blockchain, augmented reality, and vertical landing aircraft services. **Future Outlook:** - **Market Position:** Continues to explore new business opportunities and technological advancements. - **Financial Condition:** Relies on borrowings and related party transactions for working capital needs. **Risk Factors:** - **Legal Proceedings:** Ongoing litigation with Meridian Pacific Holdings, LLC and Clinton L. Stokes, III, though not expected to have a material effect. - **Internal Controls:** Management concluded that internal control over financial reporting was not effective as of December 31, 2024, due to material weaknesses. **Market Position Changes:** - **Stock Performance:** Traded on the Pink Sheets under the symbol “ATVK” with minimal trading activity. - **Shareholders:** Approximately 111 shareholders as of December 31, 2024. **Financial Condition:** - **Cash Flow:** Negative cash flow from operating activities in 2024, offset by positive changes in financing activities. - **Liquidity:** Continues to rely on borrowings and related party transactions for liquidity. **Note:** Ameritek Ventures, Inc. is a smaller reporting company with a complex ownership structure involving related parties and significant related party transactions. The company's financial health and future outlook are heavily influenced by its strategic divestitures and ongoing legal proceedings.