Thu, Nov 14, 8:53 PM (92 days ago)
**Ameritek Ventures, Inc. (ATVK) - Q3 2024 Summary** For Q3 2024, Ameritek Ventures reported revenues of $275,458, a 48% increase year-over-year, attributed to new programming revenue and deferred revenue recognition. However, total revenues for the nine months ended September 30, 2024, decreased by 4% to $678,300, primarily due to reduced programming revenue. Operating expenses dropped significantly, with total general and administrative expenses declining by 35% to $439,951 for the nine-month period, reflecting effective cost management. The company achieved a net income of $87,167 in Q3 2024, compared to a net loss of $38,756 in Q3 2023. For the nine-month period, net income reached $103,252, a substantial recovery from a loss of $82,596 in the prior year. Cash flow from operations showed improvement, but total cash decreased to $2,336 as of September 30, 2024, from $7,497 a year earlier, highlighting reliance on borrowings. Total liabilities stood at $3,451,070, down from $3,639,728, indicating a reduction in debt levels. The company continues to face challenges with interest expenses rising, reflecting increased borrowing costs. Looking forward, Ameritek aims to raise equity capital to support operational needs and product development, navigating uncertainties in the market and its financial health.