Company: SCTH
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001017386-25-000115
Chunk: 8

Company: Securetech Innovations, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 8
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 attributable primarily to the expected synergies from integrating AI UltraProd’s proprietary technologies, assembled workforce, and established market presence with the Company’s existing operations.
 
In accordance with ASC 350, goodwill is not amortized but is tested for impairment at least annually, or more frequently if events or changes in circumstances indicate the asset might be impaired. As of June 30, 2025, no impairment indicators were identified. The Company expects to perform its next annual goodwill impairment assessment as of December 31, 2025.

NOTE 4 – INVENTORIES, NET
 
Inventory is stated at the lower of cost or realizable value, using the weighted average cost method. When an impairment indicator suggests that the carrying amounts of inventories might not be recoverable, the Company reviews such carrying amounts and estimates the net realizable value based on the most reliable evidence available at that time. An impairment loss is recorded if the net realizable value is less than the carrying value. Impairment indicators considered for these purposes are, among others, obsolescence, decrease in market prices, damage, and a firm commitment to sell. The following table summarizes the Company’s inventories as of June 30, 2025 and December 31, 2024:

    As of  June 30,  2025 
    As of December 31, 2024
  
    Inventories: 

    Raw materials and work-in-progress 
    $291,454  
    $—   
  
    Finished goods 
     964,543  
     —   
  
    Gross inventories 
     1,255,997  
     —   
  
    Inventory valuation reserves 
     —    
     —   
  
    Inventories, net 
    $1,255,997  
    $—   

NOTE 5 – ACCOUNTS RECEIVABLE, NET
 
Accounts receivables, net consist of the following:

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

    Accounts receivable 
    $965,139  
    $—   
  
    Allowance for credit losses 
     —    
     —   
  
    Total accounts receivable, net 
    $965,139  
    $—   

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NOTE 6 – CONTRACT LIABILITIES
 
The Company’s contract liabilities primarily relate to unsatisfied performance obligations when