Company: ATVK
Filing Date: 2025-11-14
Form Type: 10-Q/A
Source: 0001376474-25-000934
Chunk: 26

Company: Ameritek Ventures, Inc.
Filing Date: 2025-11-14
Form: 10-Q/A
Chunk 26
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 Shaun Passley, PhD, consistent with the terms of the agreement on April 1, 2025 (note 9). The development and support expenses included $634,970 charged by Epazz, Inc. under the management services agreement between Ameritek and Epazz for the year ended December 31, 2024. As per the management services agreement between Ameritek Ventures, Inc. and Epazz Inc., Epazz shall charge a minimum annual fee of $350,000. The $ 783,626expenses consisted of Programming and support of $ 158,883, Salary of $ 232,930, and Product development cost of $ 391,813. Other transactions The Company had an accounts payable balance of $ 479,564due to Epazz, Inc. as of September 30, 2025. 11. LEGAL PROCEEDINGS The Company filed a lawsuit in the Clark County, Nevada, court against Clinton L. Stokes, III, the former owner of the Company, to settle the matter of shares ownershipand that of if the asset coming from Fiber Optic Assets was purchased free and clear of any encumberment from Meridian Financial Group, LLC on March 6, 2023. Meridian Financial Group, LLC has a claim on the assets in the business of fiber optics previously owned by Clinton L. Stokes III. This case is 18 still pending. There is no trial date set for this case. This litigation is not expected to have a material effect on the Company. 1. INCOME TAXES The Company accounts for income taxes at each calendar year-end under FASB Accounting Standard Codification ASC 740 "Income Taxes." ASC 740 provides that deferred tax assets and liabilities are recorded based on the differences between the tax basis of assets and liabilities and their carrying amounts for financial reporting purposes, referred to as temporary differences. Deferred tax assets and liabilities at the end of each calendar year-end are determined using the currently enacted tax rates applied to taxable income in the periods in which the deferred tax assets and liabilities are expected to be settled or realized. The Company did not have any eligible net operating income (or loss) carry forwards as the Company has not filed the appropriate federal and state income tax returns so any accumulated net operating income (or loss) could be subject to the respective tax agency disallowance for the fiscal year ended 2023. Any actual net operating income would be limited by the accelerated depreciation and basis reduction of noncash assets acquired. The Company did not pay