Company: ATVK
Filing Date: 2025-05-12
Form Type: 10-K/A
Source: 0001376474-25-000446
Chunk: 33

Company: Ameritek Ventures, Inc.
Filing Date: 2025-05-12
Form: 10-K/A
Chunk 33
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 of $ 24,000, and Accounting of $ 51,000. Stock issuances On October 2, 2023 Ameritek issued 7,700,000shares of Preferred Stock, Series C to GG Mars Capital, a related party, for debt issuance fees consistent with the terms of the agreement. The President of GG Mars Capital is Vivienne Passley, Shaun Passley’s aunt ( note 9). On October 2, 2023 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. The President of Star Financial Corporation is Fay Passley, Shaun Passley’s mother (note 9). Other transactions During 2024 Epazz, Inc. had invoices totaling $ 783,626, see above management agreement for details. During 2023 Epazz, Inc. had invoices totaling $ 414,000. The Company reclassified $697,359 advanced to Epazz, Inc. and ZenaTech, Inc. through Ameritek Ventures to offset this accounts payables balance. The total accounts payable balance after the offset was $771,835. 11. LEGAL PROCEEDINGS Meridian Pacific Holdings, LLC filed a lawsuit against certain directors, officers, affiliates, and the Companyfor breach of contract and fraud, in the Superior Court of the State of California, County of Los Angeleson May 6, 2024. The lawsuit alleges that certain officers of the company misrepresented the business and asked for business financing of about $1.6 million for operations from Meridian Pacific and never delivered the fiber optic assets promised. The judge in this case dismissed all claims against Ameritek Ventures, Inc. on October 19, 2023. 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 ownership and 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 still pending. There is no trial date set for this case. This litigation is not expected to have a material effect on the Company. 26 12. INCOME TAXES The Company accounts