Company: SCTH
Filing Date: 2025-11-20
Form Type: 10-Q
Source: 0001017386-25-000148
Chunk: 12

Company: Securetech Innovations, Inc.
Filing Date: 2025-11-20
Form: 10-Q
Item: Part I, Item 8
Chunk 12
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 of the following:

As of 
September 30, 
2025
 
As of
December 31, 2024

Contract liabilities
$
87,996
$
-

NOTE 7 – SHORT-TERM BORROWINGS
 
As of September 30, 2025, the Company’s
subsidiary AI UltraProd had one-year loans with a total principal amount of RMB 17,460,000
(equivalent to US$2,452,592)
from banks in the PRC, with interest rates ranging from 3.15%
to 6.53%
per annum. Interest payments are due quarterly.
 
Short-term borrowings are as follows:

    As of  September 30,  2025 
    As of December 31, 2024

    Unsecured short-term borrowings from PRC banks 
    $2,452,592  
    $—   
  
    Total short-term borrowings, net 
    $2,452,592  
    $—   

19

NOTE 8 – STOCKHOLDERS’ EQUITY
 
Preferred stock
 
The Company has authorized 50,000,000 shares of preferred stock, $0.001 par value. The Company’s Board of Directors is authorized, without further action by the shareholders, to issue shares of preferred stock and to fix the designations, number, 
rights, preferences, privileges, and restrictions thereof, including dividend rights, conversion rights, voting rights, terms of redemption, liquidation preferences, and sinking fund terms.
 
On May 31, 2023, the Company’s Board of Directors created a new class of preferred stock designated as Series A Preferred Stock, $0.001 par value. The Company may issue up to 250,000 shares of Series A Preferred Stock with the following terms, rights, and privileges:
 
Designation and Amount
 
This class of preferred stock shall be designated Series A Preferred Stock (“Preferred Stock”), $0.001 par value. The Corporation’s Board of Directors may issue up to two-hundred fifty thousand (250,000) shares of this Preferred Stock.

Rank
 
The Preferred Stock shall rank superior to the Corporation’s common stock and all other classes, including currently outstanding or future preferred stock designations.

Dividends
 
The Preferred Stock is eligible for all legal dividends as may be approved by the Corporation’s Board of Directors. If a dividend is declared across multiple classes of stock, the