Quarterly ResultMay 13, 2026, 01:56 PM
Globaltek Ventures Q1 Revenue $5,419; Net Loss $(3.01M); Going Concern
AI Summary
Globaltek Ventures (formerly Ameritek Ventures) reported Q1 2026 revenue of $5,419 and a net loss of $(3.01) million, or $(0.33) per basic share. The company disclosed a substantial doubt about its ability to continue as a going concern due to a significant working capital deficit and reliance on related-party financing. A major factor in the net loss was a $(2.98) million loss on fair-value changes in investments. The company has shifted its strategic focus to solid-state batteries, adaptive manufacturing, aerospace services, and corporate housing.
Key Highlights
- Company changed its name from Ameritek Ventures, Inc. to Globaltek Ventures, Inc.
- Reported Q1 2026 revenue of $5,419, up from $0 in Q1 2025.
- Net loss for Q1 2026 was $(3,009,928), an improvement from $(9,059,374) in Q1 2025.
- Basic net loss per common share was $(0.33) for Q1 2026, compared to $(18.64) in Q1 2025.
- Experienced a $(2,976,458) loss on fair-value changes in investments in Q1 2026.
- As of March 31, 2026, cash was $26,883, with a working capital deficit of $(2,570,261).
- Total assets decreased to $8,319,125 from $10,969,697 as of December 31, 2025.
- Total liabilities increased to $3,528,733 from $3,169,376 as of December 31, 2025.