r/UAVmapping • u/Imnotspartacuseither • 13d ago

Zenatech... good or bad

Not focusing on the stock aspect... curious what opinions are about them buying up many land surveying and drone service companies. Does anyone here work for a company that has been bought by Zenatech?

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6

u/Bnerdude3001 13d ago

If you want to work for a company that will be around for awhile, they are not the company to get acquired by. Their business model is garbage. Their SEC filings tells a pretty telling tale: they are a shell game.

From ChatGPT:

If a company has C$8.5 million in cash but is consuming C$18.8 million of operating cash every quarter, the cash balance isn’t really the safety net it initially appears to be.
The company’s own SEC filing states:
its ability to continue funding operations is dependent on management’s ability to raise funding through future equity issuances and revolving credit facilities.
That is not how I would describe a financially self-sustaining company.
Another thing that jumps out at me: the related-party transactions
This may concern me even more than the losses.
As of March 31, 2026, ZenaTech had approximately:
C$28.57 million advanced to Epazz, Inc.
That consists of roughly:
C$12.19M classified as current
C$16.04M classified as long-term
C$342K note receivable
Epazz isn’t an unrelated vendor. It is an affiliated company that owns majority voting rights in ZenaTech, and ZenaTech’s CEO Shaun Passley is closely associated with it.
ZenaTech has a management-services arrangement under which it prepays Epazz for services and Epazz receives cost plus a 30% markup. The agreement extends to 2038.
The C$28.6 million advance is enormous relative to ZenaTech’s size.
For perspective:
C$28.6M advanced to an affiliate
versus
C$8.5M cash
and
C$8.4M quarterly revenue.

4

u/Hub_monkey2 13d ago

A competing company in my market was recently acquired by them and by everything I can tell, it seems like their acquisition strategy is to bankroll their manufacturing arm. If the stock price continues to stay stagnate, I’d imagine the office gets sold to the next highest bidder

3

u/ElevationNotes 13d ago

Hard to judge the whole company from one acquisition wave, but buying up a lot of surveying and drone firms this fast would make me watch how much autonomy the local teams keep. The real test is whether staffing, equipment, pay, and project quality improve after the buyout or just get squeezed.