ATVK 10-K & 10-Q changes, risk factors and insider trading
Globaltek Ventures, Inc. · OTC · Motor Vehicle Parts & Accessories · CIK 1530185 · All filings on SEC.gov
At a glance
What changed in the latest 10-K
Risk Factors
The Company is not required to provide the information required by this Item as it is a “smaller reporting company,” as defined by Rule 229.10(f)(1).
No wording changes found in this section.
Full comparison: every changed paragraph (0)
Management's Discussion & Analysis (MD&A)
Largest changes
“Total operating expenses increased to $2,709,326 for 2025, from $458,968 in 2024, an increase of $2,250,358. The increase was due to two non-operating expenses, a stock compensation issuance of $477,722 and an impairment loss of $2,117,676. Ameritek had no development and support expenses during 2025 as it no longer has software operations, while it had $294,434 costs related to development during 2024. General and administrative expenses decreased to $95,874 from $132,398, a decrease of $36,524. …”see in full comparison
“Cash flow provided by operating activities had a total inflow of 516,601 for the year ended December 31, 2025, while for 2024 the cash inflow provided by operating activities was $324,041, a $192,560 increase. While the two periods cannot be compared since the Company was in two different business sectors during 2025 and 2024, here are some major changes for 2025. Ameritek posted a net loss of $6,384,392, partially offset by a change of $18,054 in amortization and depreciation. …”see in full comparison
“Other income or expenses during 2025 were affected by the following changes in revenues in expenses. The Company recorded an unrealized loss on investment in ZenaTech, Inc., a related party, of $(3,582,515) resulting from the change in fair value of ZenaTech securities, as compared to a gain of $13,461,645 recorded during 2024. Interest expenses, which decreased to $130,736 during 2025 from $162,083 in 2024. …”see in full comparison
“Cash flow provided by operating activities had a total outflow of $354,384 for the year ended December 31, 2024, while for 2023 the cash inflow provided by operating activities was $(23,009). …”see in full comparison
“Total operating expenses decreased by$363,928 or 44% since the Company sold the two revenue and expense generating companies on October 1, 2024. Additionally, Ameritek is now using the proprietary server from Epazz, Inc. and not loaning cloud space from third party vendors. Development and support expenses were lower by $222,040 or 43% in 2024. General and administrative expenses were $132,398 for 2024, a decrease by $91,384 or 41% as compared to expenses incurred during 2023. Depreciation and amortization expenses were also down by $50,504 or 61% from 2023.”see in full comparison
“Cash flow provided by operating activities during 2024 were affected by a net income of $13,518,894 while partially offset by a gain on ZenaTech securities of $13,461,645 and by amortization and depreciation of $32,136 and accounts payable decrease of $286,591. Other items affecting operating cash flow were accrued interest of $106,836 and short-term advance from affiliate of $317,793.”see in full comparison
Full comparison: every changed paragraph (17)
Ameritek is transitioning its business model to being a real estate company and as such it had no revenue during 2025. The Company created Chicago Real Estate Partners, LLC and became a franchisee for a fitness center in Chicago during 2025. Ameritek had $678,300 software revenue during 2024.
Total operating expenses increased to $2,709,326 for 2025, from $458,968 in 2024, an increase of $2,250,358. The increase was due to two non-operating expenses, a stock compensation issuance of $477,722 and an impairment loss of $2,117,676. Ameritek had no development and support expenses during 2025 as it no longer has software operations, while it had $294,434 costs related to development during 2024. General and administrative expenses decreased to $95,874 from $132,398, a decrease of $36,524. Ameritek recorded this year an impairment loss of $2,117,676, and depreciation and amortization of$18,054 of which amortization of $8,000 was related to the intangible assets and related to the amortization of franchise fees of $4,125 during and $5,929 on real estate investments in 2025. The Company recorded $32,136 depreciation during 2024 of which $8,000 was recorded for amortization for intangible assets and $24,136 depreciation related to computers 2024.
Ameritek had an operating loss of $(2,709,326) during 2025 but had no revenue from the real estate business during 2025, an incipient business for the Company. Ameritek had an operating income of $219,332 for 2024 when it operated in the software business.
Other income or expenses during 2025 were affected by the following changes in revenues in expenses. The Company recorded an unrealized loss on investment in ZenaTech, Inc., a related party, of $(3,582,515) resulting from the change in fair value of ZenaTech securities, as compared to a gain of $13,461,645 recorded during 2024. Interest expenses, which decreased to $130,736 during 2025 from $162,083 in 2024. This $31,347 decrease was due to a reduction of interest paid during 2025 following the sale of Interactive Systems, which was sold with its loan These expenses were partially offset by other income of $38,185 representing reversal of accruals from 2024.
Ameritek had net loss of $6,384,392 during 2025, compared to net income of $13,518,894 during 2024. The decrease is primarily due to no operating revenue in 2025 and it is explained by the factors above.
Ameritek had operating revenue of $678,300 for the year ended December 31, 2024, as compared to $949,438 for the year ended December 31, 2023, a decrease of $271,128, or 29%. This decrease was due to the sale of Interactive Systems and interlinkONE to ZenaTech.
Total operating expenses decreased by$363,928 or 44% since the Company sold the two revenue and expense generating companies on October 1, 2024. Additionally, Ameritek is now using the proprietary server from Epazz, Inc. and not loaning cloud space from third party vendors. Development and support expenses were lower by $222,040 or 43% in 2024. General and administrative expenses were $132,398 for 2024, a decrease by $91,384 or 41% as compared to expenses incurred during 2023. Depreciation and amortization expenses were also down by $50,504 or 61% from 2023.
Net operating income before other income was $219,332 for 2024 as compared to a net income of $126,542 for 2023, a positive net change of $92,790. This result is due to reducing expenses significantly in 2024.
Other income increased by $4,496,799 during 2024 due to gain on asset disposal resulting from the sale of Ecker Capital to ZenaTech. Interest expenses decreased by $23,369 in 2024 from $185,452 due to a reduction of interest paid in the fourth quarter of 2024. The Company recognized other revenue of $4,439,550 for gain on asset disposal.
Ameritek had a net income of $4,496,799 during 2024 as compared to a net loss of $58,910 realized during 2024. This decrease is due to the factors explained above.
Cash flow provided by operating activities had a total inflow of 516,601 for the year ended December 31, 2025, while for 2024 the cash inflow provided by operating activities was $324,041, a $192,560 increase. While the two periods cannot be compared since the Company was in two different business sectors during 2025 and 2024, here are some major changes for 2025. Ameritek posted a net loss of $6,384,392, partially offset by a change of $18,054 in amortization and depreciation. Other items affecting operations were stock-based compensation of $477,722, an unrealized loss on investment in ZenaTech securities of $3,582,515, a impairment loss of $2,117,676 and amortization of commitment fees of $27,720. Other items affecting operating cash flow were accounts payable of $37,887, accrued interest of $103,011 and short-term advance from affiliate of $574,593.
Cash flow provided by operating activities during 2024 were affected by a net income of $13,518,894 while partially offset by a gain on ZenaTech securities of $13,461,645 and by amortization and depreciation of $32,136 and accounts payable decrease of $286,591. Other items affecting operating cash flow were accrued interest of $106,836 and short-term advance from affiliate of $317,793.
Cash flow provided by operating activities had a total outflow of $354,384 for the year ended December 31, 2024, while for 2023 the cash inflow provided by operating activities was $(23,009). This is due to having a net income of $4,496,799, partially offset by the change in gain on sale of Ecker of $4,439,550, a decrease of accounts receivable of $245,547, accounts payable of $75,303, accrued interest of $42,399 partially offset by an increase in deferred revenue of $327,032, and a decrease of amortization and depreciation of $50,504 in 2024 compared to 2023, all as a result of the sale of Ecker Capital.
Ameritek invested in the purchase of a franchise for $82,500 and the purchase of real estate of $423,242 during 2025, since it is branching into real estate.
There waswere no investing activities during the years
year ending December 31, 2024, and 2023.2024.
Cash outflow used by financing activities decreased
by $357,535$321,343 for the year ended December 31, 2024.2025. This difference represents theThe decrease by $539,768$321,343 in financing activities is due to almost no activity during
2025, except for repayment of long-term debt of $8,316 as compared to proceeds from short-termlong-term debt and the inflow of $182,233$296,155 was forand the repayment of long-term
debt debt.of $33,504 during 2024.
The Company had $2,543 cash as of December 31,
2025 as compared with no cash as of December 31, 2024 as compared with $5,618 as of December 31, 2023, because of the assets sale to ZenaTech.2024. Ameritek continues to rely on borrowings to finance its working capital needs.
What changed in the latest 10-Q
Risk Factors
The Company is not required to provide the information required by this Item as it is a “smaller reporting company,” as defined by Rule 229.10(f)(1).
No wording changes found in this section.
Full comparison: every changed paragraph (0)
Management's Discussion & Analysis (MD&A)
Removed heading “Results of Operations”
Removed heading “For the nine months ended September 30, 2025, and 2024”
Removed heading “For the nine months ending September 30, 2025, and 2024”
Largest changes
“The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As of March 31, 2026, the Company had cash of $26,883, current liabilities of $2,584,141, current assets of $26,883, and a working capital deficit of $2,557,258. The Company generated operating revenue of $2,400 during the three months ended March 31, 2026 and continues to rely on related-party financing and other external sources of liquidity to fund operations. …”see in full comparison
“Ameritek is branching into the real estate industry since the third quarter of 2025 when it purchased two real estate apartments in Cook County, Illinois, which it plans to rent. Other businesses of Ameritek are Ditto Mask, which manufactures 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. …”see in full comparison
“The Company acquired Galaxy Batteries, Inc. from Epazz, Inc., a related party, on August 14, 2025. GlobalTek Ventures and Epazz, Inc have common control in Shaun Passley, PhD. The Company's strategic focus is on solid-state batteries through Galaxy Batteries, Inc., adaptive manufacturing, robotic manufacturing, and aerospace services through AeroPass, Inc. Ameritek also formed Chicago Real Estate Partners, LLC to acquire undervalued luxury condominiums and rent them as furnished units to professionals and corporate executives. …”see in full comparison
Full comparison: every changed paragraph (30)
The Company was organized on December 27, 2010, under the laws of the State of Nevada, as ATVROCKN. The Company changed its corporate name to Ameritek Ventures, Inc (“Ameritek Ventures” or “Ameritek” or the “Company”) on June 20, 2017.
Until October 2024 GlobalTek (formerly Ameritek) was a software company providing various products. On October 11, 20242024, Ameritekthe Company sold Ecker Capital, Inc, Ecker Capital, LLC isLLC, the holding parent company of Interactive Systems, Inc., interlinkOne, Inc. and ESM Software, Inc.Inc., Asto a result of the sale the only revenue for Ameritek Ventures,ZenaTech, Inc. comesOn August 14, 2025, GlobakTek acquired Galaxy Batteries, Inc. from DittoMask,Epazz, Inc. DittoMaskThe didCompany's notcurrent generatefocus profitis ofon oversolid-state $1,000batteries in(Galaxy 2024.Batteries, Inc.), adaptive manufacturing, robotic manufacturing, aerospace services (AeroPass, Inc.), and luxury corporate housing (Chicago Real Estate Partners, LLC). The Common Stock is quoted on https://www.otcmarkets.com/ under ticker symbol ATVK with limited trading.
The Company acquired Galaxy Batteries, Inc. from Epazz, Inc., a related party, on August 14, 2025. GlobalTek Ventures and Epazz, Inc have common control in Shaun Passley, PhD. The Company's strategic focus is on solid-state batteries through Galaxy Batteries, Inc., adaptive manufacturing, robotic manufacturing, and aerospace services through AeroPass, Inc. Ameritek also formed Chicago Real Estate Partners, LLC to acquire undervalued luxury condominiums and rent them as furnished units to professionals and corporate executives. GlobalTek began purchasing condos in Chicago during the third quarter of 2025 and plans to expand into other major cities to offer corporate housing.
Ameritek is branching into the real estate industry since the third quarter of 2025 when it purchased two real estate apartments in Cook County, Illinois, which it plans to rent. Other businesses of Ameritek are Ditto Mask, which manufactures 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. 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.
AmeritekGlobalTek entered into a selling agreement with ZenaTech, Inc., a related party, to sell 100% of Ecker Capital, LLC membership shares on October 14, 2024 with an effective date of October 1, 2024. ZenaTech’s controlling stock interest is owned by Epazz, Inc. and Shaun Passley, PhD. ZenaTech, Inc. issued members 3,0005,000 ZenaTech Super Voting Shares,Shares 1,000,0001,583,333 ZenaTech Common Shares and 300,000750,000 ZenaTech Preferred shares.shares (notes 5 and 11). The fair value of the ZenaTech common stock was determined based on the market price quoted on Nasdaq.
The fair value of the ZenaTech common stock was determined based on the market price quoted on Nasdaq. The closing price of ZenaTech common stock was $7.69 per share at the reporting date.
Ecker Capital, LLC iswas the holding parent company of Interactive Systems, Inc., interlinkOne, Inc. and ESM Software, Inc. As a result ofFollowing the salesale, the onlyCompany revenuehad forno Ameriteksignificant Ventures,revenue-generating operations following 2024. In 2025, the Company acquired Galaxy Batteries, Inc. comesand fromformed DittoMask,Chicago Inc.Real DittoMaskEstate didPartners, notLLC generateto profitpursue ofits overnew $1,000strategic direction in 2024.solid-state batteries, manufacturing, aerospace services, and corporate housing.
GlobalTek Ventures is the parent company of the following subsidiaries: AeroPass, Inc., an Indiana Corporation opened to serve the air taxi in the Midwest region, Augumum, Inc., an Indiana Corporation, Chicago Real Estate Partners, LLC, an Illinois Limited Liability Company, CordTell, Inc., an Indiana Corporation, DittoMask, Inc., a Wyoming Corporation, Equock, Inc, an Indiana Corporation, and WeeBeeO, Inc., an Indiana Corporation.
On April 16, 2026 the Company changed its name from Ameritek Ventures, Inc. to GlobalTek Ventures, Inc. to better reflect its future business plans.
Going concern
The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As of March 31, 2026, the Company had cash of $26,883, current liabilities of $2,584,141, current assets of $26,883, and a working capital deficit of $2,557,258. The Company generated operating revenue of $2,400 during the three months ended March 31, 2026 and continues to rely on related-party financing and other external sources of liquidity to fund operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern within one year after the date these consolidated financial statements are issued.
Management's plans to address these conditions include obtaining additional related-party or third-party financing, generating lease income from furnished corporate housing units, and reducing operating expenditures. These consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities.
Our significant accounting policies are more fully described in the notes to our financial statements included herein for the ninethree months ended SeptemberMarch 30,31, 2025.2026.
Any new and recently adopted accounting pronouncements are more fully described in Note 2 to our condensed consolidated financial statements included herein for the ninethree months ended SeptemberMarch 30,31, 2025.2026.
Results of Operations
For the nine months ended September 30, 2025, and 2024
For the three months ended SeptemberMarch 30,31, 2025,2026, and 20242025
AmeritekGlobalTek had no revenue during the three months ended SeptemberMarch 30,31, 2024.2026, or 2025, respectively. The Company had twoone major events during this quarter, it purchased twoone real estate properties to use them as rentals and it purchased Galaxy Batteries, Inc. from Epazz, Inc., a related party. Epazz, Inc. is owned by Shaun Passley, PhD, the CEO of Ameritek.
AmeritekGlobalTek had some general and administrative expenses relatedand they relate to staffrent salariesexpense and continues to depreciate some product development costs.maintenance.
The Company incurred an unrealized gain on investment in ZenaTech, Inc, a related party, of about $5.3$3 million during thisthe quarter.first ZenaTech,quarter Inc.sof 2026 as compared to $9 million recorded during the first quarter of 2026, due to currency valuations. The voting stock of ZenaTech, Inc. is controlled by Shaun Passley, PhD, the President and CEO of Ameritek.GlobalTek.
Ameritek had a net income of $5,276,271 during the 3 months ended September 30, 2025.
For the nine months ending September 30, 2025, and 2024
Ameritek had no revenue during the nine months ended September 30, 2024. The Company had two major events during this quarter, it purchased two real estate properties to use them as rentals and it purchased Galaxy Batteries, Inc. from Epazz, Inc., a related party. Epazz, Inc. is owned by Shaun Passley, PhD, the President and CEO of Ameritek.
Ameritek issued stock-based compensation of $183,000 to Shaun Passley, according to the agreement.
Ameritek had a net loss of $2.3 million during the nine months ended September 30, 2025, compared to net income of $105,252 that were recorded during the same 2024 period.
The cash outflows do not compare directly since AmeritekGlobalTek had two different businesses during the first ninethree months of 2025,2026, when it is branching into the real estate industry, and the similar 20242025 period, when it operated in the software industry. AmeritekThe Company purchased twoone real estate propertiesproperty to use them as rentals and it purchased Galaxy Batteries, Inc. from Epazz, Inc., a related party, during the lastfirst three quarters of 2025.2026. Epazz, Inc. is owned by Shaun Passley, PhD, the CEO of Ameritek. The Company'sGlobalTek's operations were affected by the unrealized gain on the ZenaTech investment of almost $2 million.
AmeritekGlobalTek invested by purchasing a franchisecondominium for $82,500 and two apartments for $423,242$288,930 during the ninethree months ending SeptemberMarch 30,31, 2025.2026, Thereas werecompared noto investmentsthe purchase of two condominiums during the same period in 2024.2025.
AmeritekGlobalTek paid $8,316 as repayment of long-term debt during the ninethree months ended September30,March as31, compared2026. toThere $329,659were whichtwo wascash paidoutflows during the samefirst periodthree months of 2024.2025, one for franchise fees of $82,500 and one for $423,242 for the purchase of real estate.
The Company had $26,602$26,883 in cash as of SeptemberMarch 30,31, 2025,2026, as compared with $0$2,543 as of December 31, 2024,2025, aan 100%increase increase.of $24,340.
Management did not contemplate any accounting standards and interpretations issued which are expected to have a material impact on the Company’s financial position, operations or cash flows during the ninethree months ended SeptemberMarch 30,31, 2024,2025, or for the year ended December 31, 2023.2024.
ATVK insider buying and selling (Form 4)
Since 2026-04-11, insiders reported open-market purchases in 0 Form 4 filings and open-market sales in 0 filings. Totals add up every open-market (code P and S) line in those filings, using the prices reported in the filings. Awards, option exercises, tax withholding and gifts are listed below but not counted.
No Form 4 stock transactions in this period.
Well-known investors holding ATVK (13F)
None of the 59 investors we track reported a position in their latest 13F.