Trutankless, Inc. (TKLS) Form 10-Q — Jun 9, 2026
Trutankless, Inc. reported a net loss of $1.88 million for the first quarter of 2026, driven by operating expenses of $1.57 million that outpaced revenue of $940,466. While revenue increased 119% year-over-year due to sales of its Gen 3 residential water heaters, the company remains deeply unprofitable with an accumulated deficit of $83.7 million. The filing includes a critical going-concern warning, stating that substantial doubt exists about the company’s ability to continue as a going concern.
Key figures
- Revenue
- 940466
- Revenue Yoy
- 118.7%
- Cash Position
- 16097
- Defaulted notes
- 2
- Related party debt
- 6453734
- Shares outstanding
- 162922209
- Accumulated deficit
- 83730634
- Working capital deficiency
- 5331067
- Convertible related party debt
- 750000
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