Quarterly Report for Quarter Ending March 31, 2026 (Form 10-Q)

Management's Discussion and Analysis of Financial Condition and Results of Operations.

Results of Operations

For the three months ended March 31, 2026, and 2025

GlobalTek had no revenue during three months ended March 31, 2026, or 2025, respectively. The Company had one major events during this quarter, it purchased one real estate properties to use them as rentals and it purchased Galaxy Batteries, Inc. from Epazz, Inc., a related party. Epazz, Inc. is owned by Shaun Passley, PhD, the CEO of Ameritek.

GlobalTek had some general and administrative expenses and they relate to rent expense and maintenance.

The Company incurred an unrealized gain on investment in ZenaTech, Inc, a related party, of about $3 million during the first quarter of 2026 as compared to $9 million recorded during the first quarter of 2026, due to currency valuations. The voting stock of ZenaTech, Inc. is controlled by Shaun Passley, PhD, the President and CEO of GlobalTek.

Liquidity and Capital Resources

Cash Flow

The Company currently funds its operations, including working capital and capital expenditure, and acquisitions through cash, cash equivalents and short-term investments and financing activities as necessary. We expect that cash, cash equivalents and short-term investments, and other sources of liquidity, such as issuing equity or debt securities, subject to market conditions, will be available and sufficient to meet all foreseeable cash requirements. The following is a summary of the changes in the Company's cash flows followed by a brief discussion of these changes:

Operating activities

The cash outflows do not compare directly since GlobalTek had two different businesses during the first three months of 2026, when it is branching into the real estate industry, and the similar 2025 period, when it operated in the software industry. The Company purchased one real estate property to use them as rentals and during the first three quarters of 2026. GlobalTek's operations were affected by the unrealized gain on the ZenaTech investment of almost $2 million.

Investing Activities

GlobalTek invested by purchasing a condominium for $288,930 during the three months ending March 31, 2026, as compared to the purchase of two condominiums during 2025.

Financing Activities

GlobalTek paid $8,316 as repayment of long-term debt during the three months ended March 31, 2026. There were two cash outflows during the first three months of 2025, one for franchise fees of $82,500 and one for $423,242 for the purchase of real estate.

Cash and Cash Equivalents

The Company had $26,883 in cash as of March 31, 2026, as compared with $2,543 as of December 31, 2025, an increase of $24,340.

Off Balance Sheet Arrangements

We do not have any significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our consolidated financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.

Recent Accounting Pronouncements

Management did not contemplate any accounting standards and interpretations issued which are expected to have a material impact on the Company's financial position, operations or cash flows during the three months ended March 31, 2025, or for the year ended December 31, 2024.