Globaltek Ventures, Inc. Liquidation Value

Globaltek Ventures, Inc. (ATVK, formerly Ameritek Ventures, Inc.) presents a deeply negative liquidation posture as of March 31, 2026. The company has undergone a near-complete business model transformation since October 2024, moving from software services to solid-state batteries (Galaxy Batteries, Inc., acquired from related party Epazz, Inc. in August 2025 for zero net consideration under common control), luxury corporate housing (Chicago Real Estate Partners, LLC), and aerospace services (AeroPass, Inc.). The prior software operations were divested to ZenaTech, Inc., also a related party, in exchange for ZenaTech equity securities now carried at fair value.

Liquidation value is substantially negative. Applying standard haircuts: cash of $26,883 recovers at 100%; accounts receivable of approximately $2,400 recovers at 90-95%; net real estate (PP&E) of $718,836 carried at cost less $11,760 accumulated depreciation represents Chicago luxury condominiums, recoverable at 50-70% of carrying value ($359K-$503K); franchise and development rights of $75,998 (Anytime Fitness area development rights, net of $6,502 accumulated amortization over a 10-year life) recover at 0% under liquidation; Galaxy Batteries intangibles recover at 0%. The dominant asset is the ZenaTech investment carried at $7,495,008 (a mix of Level 1 common shares valued at $3,625,833 and Level 2 preferred/super-voting shares at $3,869,175). This asset is a concentrated, illiquid position in a related-party Nasdaq-listed entity controlled by the same individual (Shaun Passley, PhD) who controls ATVK, raising marketability and block-discount concerns. A 20-40% liquidity discount applied to the ZenaTech position alone would reduce recoverable value by $1.5M-$3.0M. Against these assets, total liabilities at face value include: current liabilities of $2,599,544 (per going-concern note) comprising accounts payable, accrued interest, short-term debt of $133,883, and short-term advances from affiliates of $1,221,580; long-term debt of $926,788 (three Epazz notes at 8%-15% with maturities through 2028-2030); and a contingent creditor claim from Meridian Pacific Holdings of approximately $396,350 that management deems non-material but remains unresolved. Total face-value liabilities approximate $3.5M-$3.6M including accrued interest of $720,750 on related-party debt. Total liabilities exceed any realistically discounted asset recovery by a wide margin unless the ZenaTech position can be fully liquidated at or near carrying value, which is structurally constrained by related-party control overlap. MFFAIS CLV/LLV/OLV of negative $2.23M aligns with this assessment. The going-concern disclosure is explicit, cash at $26,883 is effectively nil, Q1 2026 operating revenue was $5,419, and the company is entirely dependent on related-party financing from Epazz. The common control adjustment account of ($37,000,000) in equity reflects the Galaxy Batteries transaction and obscures economic substance. Material internal control weaknesses (no functioning audit committee, inadequate segregation of duties) are disclosed. The prior period comparison is December 31, 2025 (annual 10-K). Between the 10-K and this 10-Q, the ZenaTech investment declined from approximately $10.47M to $7.5M (net $3.0M fair value loss in Q1 2026), real estate increased from $417K to $719K (one additional condo purchased for $307K), and affiliate payables increased from $892K to $1.22M. The filing discusses goodwill impairment of $1,771,676 recognized in fiscal 2025 and full impairment of the FlexFridge patent and product development costs during 2025, but these are prior-period events with no current-period XBRL balance. The TAG_CONTEXT list is empty, indicating the filer did not emit machine-readable XBRL tags in the submission provided; all financial data above is sourced from inline XBRL within the filing body.