Ameritek Ventures, Inc. reported significant financial changes in its latest 10-Q filing for the quarter ending March 31, 2025. The company recorded no revenue during this period, a stark contrast to the $215,922 generated in the same quarter of 2024. This decline is attributed to the sale of Ecker Capital, LLC, which previously contributed to the company's revenue stream. The company incurred an operating loss of $10,287 for the first quarter of 2025, compared to an operating income of $62,356 in the prior year. The net loss for the quarter was $9,059,374, primarily due to a substantial loss on investment in ZenaTech, amounting to $9,022,095.
In terms of expenses, Ameritek's total operating expenses decreased significantly to $10,287 from $153,566 in the previous year. This reduction was driven by lower development and support costs, which fell to $2,000 from $102,769, and a decrease in general and administrative expenses from $40,752 to $8,287. The company also reported a decrease in interest expenses, which were $26,992 for the first quarter of 2025, down from $42,639 in the same period of 2024, reflecting the absence of certain loans that previously incurred interest.
Operationally, Ameritek's total assets decreased to $7,182,640 as of March 31, 2025, down from $16,207,378 at the end of 2024. This decline is largely due to the divestiture of Ecker Capital, LLC, which included the sale of its subsidiaries, Interactive Systems, Inc. and interlinkONE, Inc. The company currently has no fixed assets, as all were sold in the transaction. The total liabilities increased slightly to $2,512,222 from $2,477,586, with current liabilities rising to $1,489,811 from $1,455,175.
Looking ahead, Ameritek Ventures plans to raise equity capital to support its operations and product development. The company aims to utilize the funds for marketing, securing additional property and equipment, and other working capital needs. Despite the challenges faced in the first quarter of 2025, management remains focused on strategic growth and product innovation, particularly in the medical technology and software sectors. The outlook remains cautious as the company navigates the impacts of its recent divestitures and seeks to stabilize its financial position.
About Ameritek Ventures, Inc.
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