This amended MD&A does not change the Q1 2026 financial picture already disclosed on June 3, 2026. Traders should focus on the next quarterly filing for evidence of DaaS margin improvement and whether cash burn moderates. The related-party concentration and material weakness in internal controls remain overhangs.
Price Chart
Executive Summary
ZenaTech filed an amended MD&A for Q1 2026, providing additional clarity on loan disclosures without changing the financial statements. Revenue surged 640% to CAD $8.4M driven by the DaaS segment, but the net loss widened to CAD $26.5M (from CAD $4.6M) and operating cash burn was CAD $18.8M. The amendment is a routine clarification with no new material financial information.
Key Facts
- Revenue increased 640% to CAD $8,402,319 for Q1 2026 vs CAD $1,135,654 in Q1 2025, driven by the DaaS segment (CAD $7,812,462).
- Net loss widened to CAD $26,549,905 (CAD $0.50 per share) from CAD $4,612,436 (CAD $0.25 per share).
- Cash used in operations was CAD $18,848,583, partially offset by CAD $22,725,705 in financing activities (equity raise and credit draws).
- Total loans payable decreased 39% to CAD $10,514,750 due to CAD $20,860,400 in debt-to-equity conversions.
- Related party advances to Epazz, Inc. totaled CAD $28,230,118 (short-term + long-term).
- CEO Shaun Passley received CAD $8,791,750 in stock compensation during Q1 2026.
- Accumulated deficit reached CAD $80,292,091; working capital surplus was CAD $23,978,953.
Financial Impact
No new financial data; the amendment clarifies loan disclosures. Revenue run-rate from DaaS annualizes to ~CAD $31M, but net loss and cash burn remain substantial.
Risk Factors
- Continued operating cash burn may require further dilutive financing.
- Related-party concentration (Epazz advances of CAD $28.2M) and CEO-controlled credit lines create governance risk.
- Material weakness in internal controls (disclosed in 20-F) increases reporting and compliance risk.
- Debt conversion at a 20% discount to market price creates ongoing dilution for common shareholders.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001376474-26-000497 |
| Document: zt_6k.htm | 0001376474-26-000497 |
| Document: 0001376474-26-000497-index-headers.html | 0001376474-26-000497 |
| Document: 0001376474-26-000497-index.html | 0001376474-26-000497 |
| Document: 0001376474-26-000497.txt | 0001376474-26-000497 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 14, 2026 11d ago | 6-K | $1.12 | awaiting T+20 | — | $0.9544 (−14.79%) |
Oct 8, 2026 17d ago | 424B5 | $1.11 | awaiting T+20 | — | $0.9544 (+14.02%) |
Oct 8, 2026 18d ago | 6-K | $1.32 | awaiting T+20 | — | $0.9544 (−27.70%) |
Oct 6, 2026 19d ago | 6-K | $1.35 | awaiting T+20 | — | $0.9544 (−29.30%) |
Oct 2, 2026 23d ago | 6-K | $1.28 | awaiting T+20 | — | $0.9544 (−25.44%) |
Sep 29, 2026 27d ago | Press Release | $1.47 | awaiting T+20 | — | $0.9544 (+35.07%) |
Sep 15, 2026 5w ago | Press Release | $1.41 $1.07 | ▼ −24.11% | ▼ −27.09% | $0.9544 (−32.31%) |
Jul 20, 2026 13w ago | 6-K | $1.51 $2.04 | ▲ +35.10% | ▲ +32.54% | $0.9544 (−36.79%) |
Jul 16, 2026 14w ago | Press Release | $1.53 $2.13 | ▲ +39.22% | ▲ +35.60% | $0.9544 (−37.62%) |
Jun 30, 2026 16w ago | Press Release | $1.50 $1.37 | ▼ −8.67% | ▼ −7.64% | $0.9544 (−36.37%) |
US Market Status
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