Company: ATVK
Filing Date: 2025-11-14
Form Type: 10-Q/A
Source: 0001376474-25-000934
Chunk: 18

Company: Ameritek Ventures, Inc.
Filing Date: 2025-11-14
Form: 10-Q/A
Chunk 18
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 Nil. The balance on this loan as of December 31, 2024 was $ Nil. Ameritek paid off the remaining balance of $ 3,311during 2024. SBA – Interactive Systems The Company applied for a Disaster loan to cover expenses and maintain the business during the period of Covid in March 2021. The Company received a $ 500,000 loan for 30 yearswith a 3.75% interest on October 31, 2021. The SBA loan is due September 25, 2051and interest is accrued each reporting period. Ameritek owed $534,312, including accrued interest of $54,352 and paid $ 20,040, of which $6,589 represents principal as of October 1, 2024. Ameritek sold this loan to ZenaTech with the Ecker Capital, Inc. sale on October 1, 2024 as described in note 5. Cloud Builder, Inc. promissory note The Cloud Builder, Inc. notefor $ 185,000originated on May 13, 2021with an interest rate of 15% and a due date of December 30, 2024. The loan originally had loan origination fees of 30,000,000 of common stock paid August 31, 2021. There was a dispute between the lender and the Company, which was settled on October 1, 2023 and this note was reinstated. Ameritek entered into a settlement agreement and recorded accrued interest expense of $ 25,960in the last quarter of 2023. There were also three conversions of debt to common stock during the month of October 2023 related to this note. For the first conversion Ameritek issued 7,700,000 shares of common stock to Cloud Builder as loan origination fees. For the second and third conversions Ameritek issued 40,000,000 shares of common stock to Cloud Builder as part of the debt settlement (note 9). The Company and Cloud Builder, Inc. agreed to convert $32,480 of this debt into 29,000,000 class A common stock on January 31, 2024, see note 9. The balance of this loan as of September 30, 2025, was $ 22,800. Ameritek had a balance of $ Nilon the loan with Cloud Builder, Inc. as of December 31, 2024