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As ZenaTech (symbol: ZENA) does not appear to be a widely recognized public company with this exact name and symbol, the following major products/services are presented hypothetically for a technology company with such a designation:

• Enterprise Software Solutions: Provides cloud-based platforms designed to streamline business operations, customer relationship management, and data analytics for corporate clients.
• AI-Powered Analytics Platforms: Offers advanced tools and services that utilize artificial intelligence and machine learning to extract actionable insights from complex datasets across various industries.
• Cybersecurity Services: Delivers comprehensive managed security services and proprietary software to safeguard organizations against evolving cyber threats and ensure robust data protection.
• IoT Integration & Management: Develops and deploys integrated hardware and software solutions for connecting, monitoring, and managing Internet-of-Things (IoT) devices in industrial, smart city, and consumer applications.

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As ZenaTech (ZENA) is widely recognized as a *fictional company* often used in case studies and examples, there is no real-world financial data or customer information available to identify its actual major customers.

However, to fulfill the request as if ZenaTech were a real public company, let's assume a plausible business model:

Hypothetical Business Model for ZenaTech (ZENA):

ZenaTech is a leading enterprise software company specializing in advanced AI-driven data analytics, cloud infrastructure solutions, and predictive modeling platforms for large corporations across various industries. This positions ZenaTech as primarily selling to other companies (B2B).

Based on this hypothetical model, ZenaTech's major customers would likely include large enterprises with significant data processing and analytical needs. Here are three examples of hypothetical major customer companies, along with their invented symbols:

• GlobalConnect Solutions (Symbol: GCS)
  • Description: A multinational telecommunications and IT services conglomerate that utilizes ZenaTech's AI platforms for network optimization, customer experience analytics, and predictive maintenance across its vast global operations.
• OmniMart Retail Group (Symbol: OMR)
  • Description: A diversified global retail giant operating multiple chains and e-commerce platforms, employing ZenaTech's solutions for supply chain efficiency, inventory management, and personalized customer insights to drive sales and reduce waste.
• ProMedica Health Systems (Symbol: PMH)
  • Description: A major integrated healthcare provider network that leverages ZenaTech's platforms for patient data analysis, operational workflow optimization in hospitals and clinics, and supporting clinical research and development initiatives.

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Shaun Passley Chairman and CEO

Dr. Shaun Passley has over 25 years of expertise in the software industry and more than 10 years leading public companies. He serves as CEO and Chairman of the Board of ZenaTech, which he founded on August 31, 2017. Dr. Passley holds a PhD in Business Management and an MBA from Benedictine University, along with three other Master's Degrees: a Master of Law from Northwestern University, a Master of Science in Information Technology from DePaul University, and a Master of Science in Product Design from Northwestern University. He also serves as President, Chief Financial Officer, and Secretary, as well as Chief Operating Officer, at Ameritek Ventures, Inc. since 2020.

James Sherman CPA, CFO

James Sherman brings 30 years of experience as a Certified Public Accountant (CPA) and is an honors graduate from Northern Illinois University. He began his career at a Fortune 500 telecommunications firm. Mr. Sherman served as Acting Treasurer for a $3.5 billion division of Sprint Corporation, where he led a $50 million cost-saving initiative. He was also the CFO for a $90 million national transportation and distribution company, successfully leading its turnaround from potential bankruptcy to a sale-ready state. Additionally, he served as CFO for Carry Corporation, a $250 million division of Mitsubishi Corporation.

Sajjad Asif Chief Technology Officer

Sajjad Asif was promoted to Chief Technology Officer in October 2024 and possesses 18 years of professional experience in software and drone technologies. Prior to this role, he was ZenaTech's Vice President of Technology and held various leadership positions within the ZenaTech group of companies. Mr. Asif holds a Master of Science in Software Engineering from Blekinge Tekniska Högskola (BTH) in Sweden, an MBA from AIOU in Pakistan, and a BS in Computer Science from PUCIT in Pakistan. He has also held CTO and other leadership and technical roles for multiple European technology firms.

Craig Passley Company Secretary & Director

Craig Passley was appointed Company Secretary in October 2024. He is a construction management executive at M/I Homes. Mr. Passley previously served as Corporate Secretary for the publicly traded company Epazz from 2005 to 2016, and also for FlexFridge. He holds a bachelor's degree in engineering from Bradley University, a master's degree in project management from the Keller Graduate School of Management, and an MBA from Lake Forest School of Management.

Linda Montgomery Vice President of Corporate Development

Linda Montgomery joined ZenaTech in October 2024 to lead corporate development. She brings over 20 years of professional experience in leading investor relations, business development, and marketing for international technology companies. Ms. Montgomery has successfully led investor relations for five IPOs. She holds two degrees in business and marketing from the University of Manitoba and the University of Winnipeg, and an investor relations professional accreditation (CPIR) from the Ivey School of Business at Western University.

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The primary risks to ZenaTech's business include its ongoing struggle to achieve sustainable profitability, its aggressive acquisition-dependent growth strategy, and significant supply chain vulnerabilities.

1. Lack of Sustainable Profitability and Financial Fragility: ZenaTech has demonstrated explosive revenue growth, but this has not translated into sustainable profitability. The company consistently reports net losses and substantial operating loss margins, with a reported net loss of $10.88 million over 12 months in Q2 2025 and an operating loss margin of -225.04%. This raises critical questions about the long-term viability of its "growth at all costs" strategy, as the company's cash reserves may be masking deeper structural issues, and its negative operating cash flow makes its ability to service debt precarious. Shareholder dilution has also been a concern.
2. High Reliance on Acquisitions and Integration Challenges: ZenaTech's rapid expansion, particularly in its Drone as a Service (DaaS) segment, is heavily predicated on numerous acquisitions, with plans for 25 DaaS acquisitions by mid-2026. This aggressive strategy has led to significant integration challenges and substantially increased general and administrative expenses, straining profit margins. Concerns have been raised that most of ZenaTech's patents and revenue sources are acquired rather than internally developed, questioning the sustainability of its organic growth and the effectiveness of its unproven strategy to scale acquired technology. The company's limited cash could also hinder future acquisition capabilities.
3. Supply Chain and Geopolitical Risks: ZenaTech's supply chain is significantly exposed to geopolitical and quality control risks due to its reliance on Taiwan-based Spider Vision Sensors. Any disruption in Taiwan's manufacturing operations could severely delay critical defense contracts, particularly those requiring Green UAS certification, which is essential for accessing U.S. defense markets.

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Drone as a Service (DaaS) and AI Drone Solutions

Enterprise SaaS (Software-as-a-Service) Solutions

Quantum Computing Solutions

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ZenaTech (NASDAQ: ZENA) is poised for significant revenue growth over the next 2-3 years, driven by several key strategic initiatives:

1. Expansion of Drone as a Service (DaaS) Operations: The DaaS segment is a primary driver of ZenaTech's revenue growth, with the company actively expanding its footprint through strategic acquisitions and organic growth. ZenaTech completed four acquisitions of land survey engineering companies in Q3 2025, strengthening its national presence to ten locations across the US, and aims to acquire a total of 25 DaaS-related companies by mid-2026. This expansion also includes international markets such as Europe, Asia, and the Middle East.
2. Growth in Enterprise SaaS Software Segment: ZenaTech's Enterprise SaaS Software segment has demonstrated strong growth, with a 137% increase in revenue year-over-year in Q3 2025. The company expects continued expansion of its SaaS offerings to existing and new enterprise customers.
3. New Applications and Market Diversification for Drone Technology: ZenaTech is expanding the application of its drone technology beyond traditional surveying and inspections. Future growth is anticipated from new uses such as precision agriculture, maintenance inspections, and power washing. The company is also making significant progress in advancing its US defense industry business, including pursuing Blue UAS certification to enable inclusion on procurement lists and developing AI-driven drone solutions for military applications.
4. Introduction of AI-enabled Flight Analytics and Predictive Maintenance Software: ZenaTech plans to enhance its drone services by introducing advanced AI-enabled flight analytics and predictive maintenance software. This innovation aims to provide added value to customers and further differentiate its offerings in the market.
5. Strategic Acquisitions: A core component of ZenaTech's growth strategy is the continued acquisition of DaaS-related companies. The company has a stated goal to have acquired a total of 25 such companies by mid-2026, focusing on those with strong profitability and integration potential to expand its service offerings and geographical reach.

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Share Issuance

• ZenaTech effected a 1-for-6 reverse stock split of its common shares on July 1, 2024.
• In connection with its direct listing on the Nasdaq Capital Market (October 2024), ZenaTech registered for resale up to 17,663,879 shares of common stock, including shares issuable upon exercise of outstanding warrants. The company did not receive proceeds from the sale of these shares by existing stockholders.
• The company's common shares were cross-listed for trading on the Frankfurt Stock Exchange (FSE) under the symbol "49Q" effective October 31, 2024, and the BMV: Bolsa Mexicana de Valores (Mexican Stock Exchange) effective January 23, 2025, to increase exposure, liquidity, and attract foreign investors.

Outbound Investments

• In 2024, ZenaTech significantly expanded its assets by over 110% to $34.6 million, up from $16.4 million in 2023, primarily through the acquisition of three patents and a total of four software companies.
• Notable software acquisitions in 2024 included Ecker Capital LLC (holding company for InterlinkONE Inc. and Interactive Systems Inc.) for warehouse management software, ZooOffice Inc. (holding company for Jadian and DeskFlex) for compliance, inspection, scheduling, and mapping software, and Othership, a UK workplace management software company.
• In the first half of 2025, ZenaTech launched and expanded its Drone as a Service (DaaS) segment by completing eight acquisitions, including land survey drone servicing companies like Oregon-based Weddle Surveying and Florida-based KJM Land Surveying, with plans to acquire a total of 25 DaaS-related companies by mid-2026.

Capital Expenditures

• In Q1 2025, ZenaTech made investments in its ZenaDrone subsidiary's UAE manufacturing capabilities, including hiring 35 new engineers and technicians.
• During Q1 2025, the company opened a drone testing facility in Turkey for beyond-the-line-of-sight drone testing.
• Investments in Q1 2025 also focused on finalizing the third-generation design and "production model" of the ZenaDrone 1000 drone for scaled production and moving the IQ Square drone from prototype to manufacturing stage.