8.LOANS PAYABLE 

Ameritek Ventures, Inc. has the following loans payable as of June 30, 2025, and December 31, 2024.

1 Bozki, Inc. had a note with Epazz, Inc., a related party. Epazz, Inc. owns the Company’s voting stock. Shaun Passley, PhD is majority owner of Epazz’s voting stock and the President of the Company. See ‘Assumption of $200,000 note from Bozki merger’ below and note 10.

2 Bozki, Inc. had a note with Epazz, Inc., a related party. Epazz, Inc. owns the Company’s voting stock. Shaun Passley, PhD is majority owner of Epazz’s voting stock and the President of the Company. See ‘Assumption of $1,000,000 note from Bozki merger’ below and note 10.

3 VW Win, Inc. had a note with Epazz, Inc., a related party. Epazz, Inc. owns the Company’s voting stock. Shaun Passley, PhD is majority owner of Epazz’s voting stock and the President of the Company. See ‘Assumption of $250,000 note from VW Win merger’ below and note 10.

Ameritek utilizes its available lines of credit with related parties (note 10) to justify the long-term classification of the current portion of third-party debt. As such the current portion of long-term debt of $45,426 is recorded as a long-term liability in the balance sheet as June 30, 2025.

The current portion of long-term debt of $48,567 is recorded as a long-term liability in the balance sheet as of December 31, 2024. During the year ended December 31, 2024 the Company converted $40,901 accrued interest to long-term debt and recorded an accrued interest expense of $555,447.

Assumption of $200,000 convertible note from Bozki merger

Ameritek merged with Bozki, Inc. on November 13, 2020. At the merger the Company assumed a 10-year, convertible note of $200,000 and accrued interest of $46,648 with Epazz, Inc., (“Epazz”), a Wyoming corporation and a related party, see note 10. The promissory note had an effective date of January 1, 2018, an interest rate of eight percent (8%) per year, which interest shall accrue from the effective date until January 1, 2028, unless prepaid prior to this date. The promissory note shall provide for one hundred twenty (120) equal monthly payments commencing one hundred twenty (120) days after April 1, 2018. Payee will have an option to defer 36 monthly payments. The payee will need to provide written notice of how many payments it wishes to defer. The deferred payment(s) will have an interest rate of 10%. On December 1, 2020 both parties agreed to defer payments until January 1, 2028.

The total amount due under the promissory note was $200,000 and accrued interest of $118,648 as of June 30, 2025. The total number of shares of common stock the noteholder could convert was 54,563,014, which is the total amount due of $318,648, divided by $0.0058, or $0.0073 share price at a 20% discount rate. The Ameritek Ventures, Inc. common stock share price was $0.0073 on June 30, 2025, as quoted on the https://www.otcmarkets.com/.

The total amount due under the promissory note was $200,000 and accrued interest of $113,315 as of December 31, 2024. The total number of shares of common stock the noteholder could convert was 2,237,964,286, which is the total amount due of $313,315, divided by $0.0001, or $0.0007 share price at a 20% discount rate. The Ameritek Ventures, Inc. common stock share price was $0.0007 on December 31, 2024, as quoted on the https://www.otcmarkets.com/.

Assumption of $1,000,000 convertible note from Bozki merger and conversion to $500,000 convertible note

Ameritek merged with Bozki, Inc. on November 13, 2020. At the merger the Company assumed a 10-year convertible note of $1,000,000 and accrued interest of $9,078 with Epazz, Inc., a related party, see note 10. On September 15, 2021 both parties agreed to convert $500,000 of this debt into Ameritek common stock and a nine-year note with principal of $572,410 and 8% annual interest. This note would convert into an amortizing note after 2025. On December 1, 2020 Ameritek and Epazz agreed to defer payments until January 1, 2028.

The total amount due under the promissory note was $572,411 and accrued interest of $246,046 as of June 30, 2025. The total number of shares of common stock the noteholder could convert was 140,146,747, which is the total amount due of $818,457, divided by $0.0058, or $0.0073 share price at a 20% discount rate. The Ameritek Ventures, Inc. common stock share price was $0.0073 on June 30, 2025, as quoted on the https://www.otcmarkets.com/.

The total amount due under the promissory note was $572,411 and accrued interest of $154,551 as of December 31, 2024. The total number of shares of common

stock the noteholder could convert was 7,231,458,461, which is the total amount due of $723,146, divided by $0.0001, or $0.0007 share price at a 20% discount rate. The Ameritek Ventures, Inc. common stock share price was $0.0007 on December 31, 2024, as quoted on the https://www.otcmarkets.com/.

Assumption of $250,000 note from VW Win Century, Inc. (Previously registered as, FlexFridge, Inc. an Illinois corporation) merger

The Company merged with VW Win Century, Inc. (previously registered as FlexFridge, Inc., an Illinois Corporation) on November 10, 2020. At the merger the assuming simple note of $250,000 and accrued interest of $183,566, with Epazz, Inc., a related party, see note 10. This note has a 15% interest rate and a maturity date of December 29, 2025. On December 1, 2020 both parties agreed to defer payments until January 1, 2028.

The total amount due under the promissory note was $250,000 principal and accrued interest of $172,183 as of June 30, 2025.

The total amount due under the promissory note was $250,000 principal and accrued interest of $153,433 as of December 31, 2024.

SBA – Reading Coop loan for interlinkOne

The Company assumed a loan from the Reading Coop for $27,957 with the acquisition of interlinkOne on May 15, 2021. The Reading Coop loan has an interest rate of 6.5% and the Company has been making payments each year to pay it off.

The balance of this loan as of June 30, 2025, was $Nil.

The balance of this loan as of December 31, 2024 was $Nil.

Ameritek paid off the remaining balance of $3,311 during 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 years with a 3.75% interest on October 31, 2021. The SBA loan is due September 25, 2051 and 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. note for $185,000 originated on May 13, 2021 with 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 $25,960 in 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 Company and Cloud Builder, Inc. agreed to convert $22,800 of this debt into 30,000,000 class A common stock on April 29, 2024, see note 9.

Ameritek sold this loan to ZenaTech as of October 1, 2024.

The balance of this loan as of June 30, 2025, was $Nil.

Ameritek had a balance of $Nil on the loan with Cloud Builder, Inc. as of December 31, 2024.