AMERITEK VENTURES, INC. Ameritek Ventures, Inc.
_______________________
Period Report
For the Three Months Ending
June 30, 2022 and June 30, 2021
CURRENT INFORMATION REGARDING
Ameritek Ventures, Inc.
The following information is furnished to assist with "due diligence" compliance. The information is furnished pursuant to Rule 15c2-11 promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended: The items and attachments generally follow the format set forth in Rule 15c2-11.
Ameritek Ventures, Inc. | 2022 FS June 30 | 2
Ameritek Ventures, Inc.
Index to Consolidated Financial Statements
(Unaudited)
Period Financial Statements | Page |
Consolidated Balance Sheets as of June 30, 2022, and December 31, 2021 | 2 |
Consolidated Statements of Operations for the Three Months Ended June 30, 2022, and June 30, 2021 | 3 |
Consolidated Statements of Cash Flows for the Three Months Ended June 30, 2022, and June 30, 2021 | 4 |
Consolidated Statement of Stockholders' Equity for the Three Months Ended June 30, 2022, and June 30, | |
2021 | 5 |
Notes to Consolidated Financial Statements | 6 |
Ameritek Ventures, Inc. | 2022 FS June 30 | 3
Ameritek Ventures, Inc.
Consolidated Balance Sheets
(Unaudited)
June 30, | December 31, | |||||
Assets | 2022 | 2021 | ||||
Current assets: | ||||||
Cash | $ | 1,120 | $ | 32,830 | ||
Accounts receivable, net | 369,250 | 254,105 | ||||
Prepaid expenses | 1,519 | 24,296 | ||||
Total current assets | 371,889 | 311,231 | ||||
Property and equipment, net | 23,380 | 6,127 | ||||
Long-term assets: | - | |||||
Investment in securities | 661,886 | |||||
Patent | 250,000 | 250,000 | ||||
Product development, net | 566,651 | 559,207 | ||||
Goodwill, net | 2,312,087 | 2,397,002 | ||||
Total long-term assets | 3,768,292 | 3,206,209 | ||||
Total assets | $ | 4,163,561 | $ | 3,523,567 | ||
Liabilities and Shareholders' Equity | ||||||
Current liabilities: | ||||||
Accounts payable | $ | 971,920 | $ | 784,067 | ||
Accrued interest and expenses | 367,333 | 309,624 | ||||
Deferred revenue | 705,991 | 245,372 | ||||
Short-term debt | 21,000 | 21,000 | ||||
Total current liabilities | 2,066,244 | 1,360,063 | ||||
Long-term liabilities | ||||||
Long term debts, net of current maturities | 1,876,167 | 2,025,878 | ||||
Total long-term liabilities | 1,876,167 | 2,025,878 | ||||
Total liabilities | 3,942,411 | 3,385,941 | ||||
Stockholders' equity (deficit): | ||||||
Preferred stock Series A, $0.01 par value, 10,000,000 shares authorized, 7,488,730 issued and | ||||||
outstanding, respectively | 74,887 | 74,887 | ||||
Preferred stock Series B, $0.01 par value, 10,000,000 shares authorized, 10,000,000 issued and | ||||||
outstanding, respectively | 100,000 | 100,000 | ||||
Preferred stock Series C, $0.01 par value, 60,000,000 shares authorized, 36,888,972 issued and | ||||||
outstanding, respectively | 368,890 | 368,890 | ||||
Preferred stock Series D, $0.01 par value, 10,000,000 shares authorized, 9,083,630 issued and | ||||||
outstanding, respectively | 90,836 | 90,836 | ||||
Preferred stock Series E, $0.01 par value, 23,000,000 shares authorized, 23,000,000 issued and | ||||||
outstanding, respectively | 230,000 | 230,000 | ||||
Common stock, $0.001 par value, 750,000,000 shares authorized, 514,226,791 issued and | ||||||
outstanding, respectively | 514,202 | 514,202 | ||||
Additional paid in capital | 1,239,902 | 1,239,902 | ||||
Accumulated deficit | (2,397,567) | (2,481,091) | ||||
Total stockholders' equity | 221,150 | 137,626 | ||||
Total liabilities and stockholders' equity | $ | 4,163,561 | $ | 3,523,567 |
See accompanying notes to consolidated financial statements.
Ameritek Ventures, Inc. | 2022 FS June 30 | 4
Ameritek Ventures, Inc.
Consolidated Statements of Income (Loss)
(Unaudited)
Three Months Ended | Six Months Ended | ||||||||||||
June 30, | June 30, | ||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||
Revenue: | $ | 351,673 | $ | 224,792 | $ | 1,001,530 | $ | 224,977 | |||||
Expenses: | |||||||||||||
Development and support | 85,577 | - | 508,933 | - | |||||||||
General and administrative | 127,535 | 187,081 | 225,919 | 434,081 | |||||||||
Salaries and benefits | 439 | 49,912 | 2,365 | 49,912 | |||||||||
Depreciation and amortization | 52,510 | 36,278 | 104,533 | 66,091 | |||||||||
Total operating expenses | 265,961 | 273,271 | 841,750 | 550,084 | |||||||||
Net operating income/(loss) | 85,812 | (48,479) | 159,780 | (325,107) | |||||||||
Other income (expense): | |||||||||||||
Gain on extinguishment of debt | - | 756,115 | - | 756,115 | |||||||||
Interest expense | (38,466) | (35,043) | (76,256) | (81,132) | |||||||||
Total other income (expense) | (38,466) | 721,072 | (76,256) | 674,983 | |||||||||
Net income | $ | 47,246 | $ | 672,593 | $ | 83,524 | $ | 349,876 | |||||
Net income (loss) per common share: | |||||||||||||
Basic | $ | 0.000 | $ | 0.002 | $ | 0.000 | $ | 0.001 | |||||
Diluted | $ | 0.000 | $ | 0.002 | $ | 0.000 | $ | 0.001 | |||||
Weighted average shares outstanding: | |||||||||||||
Basic | 514,226,791 | 434,216,430 | 514,226,791 | 434,216,430 | |||||||||
Diluted | 514,226,791 | 434,201,787 | 514,226,791 | 434,201,787 |
See accompanying notes to consolidated financial statements.
Ameritek Ventures, Inc. | 2022 FS June 30 | 5
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Ameritek Ventures Inc. published this content on 09 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 August 2022 20:11:06 UTC.
