Company: ATVK
Filing Date: 2025-11-14
Form Type: 10-Q/A
Source: 0001376474-25-000934
Chunk: 20

Company: Ameritek Ventures, Inc.
Filing Date: 2025-11-14
Form: 10-Q/A
Chunk 20
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,000,000issued and outstanding as of September 30, 2025. There were 10,000,000Preferred Stock Series B shares authorized, 10,000,000issued and outstanding as of December 31, 2024. Series C Preferred Stock The Company is authorized to issue 60,000,000shares of $ 0.01par value Series C Preferred Stock. The Series C Preferred Stock has no voting rights. The conversion right is one to three fully paid shares of Common Stock. For example, an owner of convertible 1,000 shares of Preferred C Stock would be able to convert to 3,000 shares of Common Stock. However, the beneficial owner of such Series C Preferred Stock cannot convert their Series C Preferred stock where they will beneficially own in excess of 9.99% of the shares of the Common Stock. The Company issued 23,100,000 Preferred Stock C for commitment fees of $36,960 associated with fees related to the lines of credit, consistent with the terms of the agreement. These commitment fees are amortized over a five-year period. The amortization expense is included in the interest expense. 15 There were 60,000,000Preferred Stock Series C shares authorized, 59,988,972issued and outstanding as of September 30, 2025. There were 60,000,000Preferred Stock Series C shares authorized, 36,888,972 issued and outstanding as of December 31, 2024. Series D Preferred Stock The Company is authorized to issue 10,000,000shares of $ 0.01par value Series D Preferred Stock. Liquidation Preference is equal to $0.01 per share. Series D Preferred Stock has no voting rights. Series D Preferred Stock shall be entitled to receive dividends once the Company has generated net income of over $1 million based on the Corporation’s audited statement of operations at a rate of 1.5%. At any time and from time-to-time after the issuance of the Series D Preferred Stock, any holder may convert any or all of the shares of Series D Preferred Stock held by such holder at the ratio of .10 of Common Stock. For example, an owner of convertible 10,000 shares of Preferred D Stock would be able to convert to 1,000 shares of Common Stock. However, the beneficial owner of such Series D Preferred Stock cannot convert their Series D Preferred stock where they will beneficially own in excess of 9.99% of the