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Trutankless, Inc. is furnishing an Information Statement to notify holders of actions approved by majority written consent. The Board and majority shareholders approved an Authorized Share Increase to raise authorized common stock from 150,000,000 to 300,000,000. The Written Consent was executed by holders controlling 73,086,022 shares, approximately 51.76% of the issued and outstanding common stock. The company reports 141,214,441 shares of Common Stock issued and outstanding as of June 15, 2026. The Authorized Share Increase becomes effective no sooner than 20 calendar days after this Information Statement is mailed and upon filing with the Nevada Secretary of State. The statement notes no definitive plans to issue the additional shares and that any future issuances could dilute existing holders.
Trutankless, Inc. reported sharply higher sales but remains in severe financial distress for the three months ended March 31, 2026. Net sales rose to $940,466 from $430,087, lifting gross profit to $444,751 from $104,289. Operating loss narrowed slightly to $1,122,675, but a $493,893 loss on extinguishment of debt and heavy interest expense drove net loss to $1,877,955, or $(0.01) per share.
Despite revenue growth, the balance sheet is highly strained. At March 31, 2026, assets were $5,859,719 against total liabilities of $13,011,475, leaving a stockholders’ deficit of $7,151,756 and a working capital deficit of $5,331,067. Cash was only $16,097, and the company disclosed substantial doubt about its ability to continue as a going concern.
Trutankless relies heavily on high-interest and related-party debt, including multiple notes and convertible notes, several of which are past maturity, though lenders have not issued default notices. The company is also issuing significant common stock for services and debt conversions, and has royalty and revenue-sharing obligations tied to units sold, adding future cash outflow commitments.
Trutankless, Inc., a Nevada-based maker of smart electric tankless water heaters, reported 2025 revenue of $1,082,887, up sharply from $242,350 a year earlier as it advanced its Gen3 product line. Despite the rebound in sales, the company recorded a net loss of $4,750,710 and continues to operate at a significant deficit.
Operating expenses were $3,612,548, driven largely by consulting, general and administrative costs, while other expense totaled $1,180,184. Cash fell to $21,619 at year-end 2025, with a working capital deficiency of $10,612,370 and an accumulated deficit of $81,852,679. Management states there is substantial doubt about the company’s ability to continue as a going concern without new capital.
Trutankless remains focused on U.S. residential and light commercial markets, leveraging wholesale distribution and smart-home integration. Its common stock trades on the OTC Expert Market, limiting liquidity, and the company has relied heavily on issuing shares for cash and services, offset slightly by a small share repurchase.
Trutankless, Inc. (TKLS) reported third-quarter and nine‑month 2025 results showing higher sales but continued heavy losses and a strained balance sheet. Net sales were $223,950 for Q3 2025 versus $179,701 a year earlier, and $748,491 for the nine months versus $191,285, driven by increased sales of new Gen 3 residential products.
Despite this growth, the company remained unprofitable. Q3 2025 net loss was $918,110 compared with $3,420,112, and the nine‑month net loss was $3,758,712 versus $4,908,865. Operating expenses for the nine months were $3,212,834, including $2,312,850 in professional fees and $709,056 in general and administrative costs.
Liquidity is tight: cash was $32,622 at September 30, 2025, with net cash used in operating activities of $2,396,845. Total liabilities were $12,668,576 against total assets of $3,343,211, resulting in a stockholders’ deficit of $9,325,365. Management discloses substantial doubt about the company’s ability to continue as a going concern and plans to rely on additional capital and increased sales. Common shares outstanding were 132,108,178 as of September 30, 2025.