GlobalTek 10-Q Restates Equity to a $1.04M Deficit, Flags Going Concern and Material Weaknesses
ATVK has more than doubled off its 52-week low of $0.84 on light trading volume (0.1× avg).
Summary
GlobalTek's delayed 10-Q restates 2025 equity from a $7.8 million surplus to a $1.04 million deficit after the court voided related-party deals, and discloses going-concern doubt with just $29,328 of cash against $2.19 million of current liabilities.
Key Events · Legal and Risk Events · ATVK
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Restatement Wipes Out Reported Equity
December 31, 2025 stockholders' equity goes from $7,800,321 as previously reported to a deficit of $1,044,672, mainly from derecognizing $10,471,466 of ZenaTech shares received in the voided Ecker Capital sale.
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Going Concern With Minimal Cash
At June 30, 2026 the company had $29,328 of cash, $2,192,354 of current liabilities and a $2,161,539 working-capital deficit, with a $732,925 net loss and $101,217 of operating cash burn for the six months.
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Material Weaknesses Disclosed
Management reported disclosure controls were not effective, citing no functioning board or audit committee, no controls over related-party transactions or equity issuances, and the omitted Meridian note.
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Share Count Still Unsettled
Common shares are restated to 477,508,748 on a pre-split basis after court-ordered cancellations and rescission of the 1-for-1,200 reverse split, but the transfer agent's register still showed 9,222,729 post-split shares as of October 16, 2026.
Analysis · ATVK · Manufacturing
Here are the first hard numbers behind the Nevada court's August 11 order, and they are far worse than what was previously reported. Equity at December 31, 2025 flips from $7.8 million positive to a $1.04 million deficit because $10.47 million of ZenaTech shares were never really the company's. Cash stands at $29,328 against $2.19 million of current liabilities, and the only funding lined up is a court-approved $250,000 convertible note that covers reporting costs, not operations. With the auditor's going-concern warning and five material weaknesses, the reported figures themselves carry execution risk, and the share register still has not been conformed to the court order.
How filings like this one have moved
In the 30 days to Oct 28, 2026, 47.8% of the 247 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -1.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, ATVK was trading at $3.82 on OTC in the Manufacturing sector, with a market capitalization of approximately $35.2M. The 52-week trading range was $0.84 to $27.60. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.