Every 10-Q that TRUTANKLESS INC (TKLS) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow TKLS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full TKLS filings page.
Trutankless, Inc. (TKLS) reported sharply higher sales but continued heavy losses for the quarter and six months ended June 30, 2026. Net sales were $538,673 for the quarter and $1,479,139 for six months, up from $94,454 and $524,541 a year earlier, driven by its Gen 3 smart electric tankless water heaters. Gross profit for the six months rose to $744,966.
The company remains highly leveraged and unprofitable. Six‑month net loss was $5,316,163 and operating cash use was $491,646. At June 30, 2026, cash was only $13,133, total liabilities were $14,893,325, and stockholders’ deficit was $10,858,961. Management states that these conditions, including an accumulated deficit of $87,168,842, raise substantial doubt about Trutankless’s ability to continue as a going concern.
The balance sheet includes numerous high‑interest and related‑party notes, many past stated maturity but without formal default notices, as well as $564,576 of royalty liabilities and new revenue‑sharing obligations tied to unit sales. Equity financing is heavily stock‑based: common shares outstanding rose to 148,647,209 at June 30, 2026 and 170,348,374 by August 19, 2026, including significant issuances for consulting services and note conversions.
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. (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.