Company: ATVK
Filing Date: 2025-05-12
Form Type: 10-K/A
Source: 0001376474-25-000446
Chunk: 28

Company: Ameritek Ventures, Inc.
Filing Date: 2025-05-12
Form: 10-K/A
Chunk 28
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.01 per share. Series E Preferred Stock has no voting rights. Series E Preferred Stock shall be entitled to receive dividends once the Company has generated net income of over $2 million based on the Corporation’s audited statement of operations at a rate of 6%. At any time and from time-to-time after the issuance of the Series E Preferred Stock, any holder may convert any or all of the shares of Series E Preferred Stock held by such holder at the ratio of .15 of Common Stock. For example, an owner of convertible 10,000 shares of Preferred E Stock would be able to convert to 1,500 shares of Common Stock. However, the beneficial owner of such Series E Preferred Stock cannot convert their Series E Preferred stock where they will beneficially own in excess of 9.99% of the shares of the Common Stock. There were 23,000,000Preferred Stock Series E shares authorized, 23,000,000issued and outstanding as of December 31, 2024. There were 23,000,000Preferred Stock Series E shares authorized, 23,000,000issued and outstanding as of December 31, 2023. Common Stock Ameritek has 950,000,000authorized shares of $ 0.001par value Common Stock with cusip number 03078H. The Common Stock is quoted on https://www.otcmarkets.com/ under ticker symbol ATVK with limited trading. On December 31, 2024 the common stock share price closed at $0.0015 per share and the Company had approximately 111 shareholders. Ameritek issued 20,000,000shares of Common Stockfor debt conversion to common stock, consistent with the terms of the agreement on October 2, 2023. Ameritek issued 7,700,000shares of Preferred Stock, Series C to GG Mars Capital, Inc., a related party, for debt issuance fees consistent with the terms of the agreement on October 2, 2023. The President of GG Mars Capital, Inc. is Vivienne Passley, Shaun Passley’s aunt (note 10). Ameritek issued 7,700,000shares of Preferred Stock, Series C to Star Financial Corporation, a related party, for debt issuance fees consistent with the terms of the agreement on October 2, 2023. The President of Star Financial Corporation is Fay Passley, Shaun Passley’s mother (note 10). Ameritek issued 7,700,