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Close of 30 Oct 2026, in USD
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About Trutankless
From its filings with the US Securities and Exchange Commission
Trutankless is based in Scottsdale, Arizona and is incorporated in Nevada. Its shares trade on OTC under the ticker TKLS. The SEC classifies its business as household appliances. In the fiscal year to 31 December 2025, it reported revenue of $1.1m and a net loss of $4.8m. At that date it held total assets of $3.1m and shareholders' equity of −$10.0m.
Trutankless, Inc. was incorporated in the state of Nevada on March 7, 2008. The Company is headquartered in Scottsdale, Arizona and currently operates through its wholly owned subsidiaries, Bollente, Inc., a Nevada corporation incorporated on December 3, 2009 and Tankless365, Inc., a Nevada corporation incorporated on October 20, 2021.
Trutankless is involved in research and development, sales, marketing, of a high quality, whole-house, smart electric tankless water heater that is more energy efficient than conventional products. Management anticipates the Company’s second generation of Trutankless water heaters, with Bluetooth, and Zigbee capability. Trutankless’ proprietary app is expected to launch into the iOS and Android store and will augment other products in the home automation space.
Management intends to focus on the United States residential market initially. For decades Americans have used only tank type water heaters, however the market is increasingly towards alternatives like tankless water heaters. Many brands are powered by natural gas, while several others use electricity. Almost half of American homes do not have natural gas available and there has been a trend in many markets towards renewable and cleaner energy alternatives to provide the energy to operate water heaters for the residential and commercial markets in North America.
Quoted from its 10-K, filed 22 May 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Industrials
- Industry
- Building Products
- Listed since
- 26 Mar 2009
- Employees
- 6
- Website
- trutanklessinc.com ↗
- Head office
- 15900 NORTH 78TH STREET, SCOTTSDALE, AZ, 85260
- Incorporated in
- NV
- Classification
- Household Appliances
- Filer status
- Non-accelerated filer<br>Smaller reporting company
Leadership
Pay as last reported
- Mr. Guy NewmanPresident, Chief Executive Officer, Director, since 2024$1.6m
- Mr. Rodney SperryChief Financial Officer
- Mr. Robertson OrrTreasurer, Secretary, Director, since 2010$199,500
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 0
- Environment
- 0
- Social
- 0
- Governance
- 0
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Trutankless water heaters utilize Velix technology for on-demand hot water supply.
- TruCirc offers a high-tech interface for customizable water delivery modes.
- MYtankless provides a customizable online control panel for the trutankless line.
Weaknesses
- The company employs only 6 full-time employees, limiting operational capacity.
- Trutankless Inc. has a small workforce, which may hinder rapid expansion.
- Scottsdale, Arizona headquarters may restrict access to broader markets.
Opportunities
- The US market offers growth potential for smart electric tankless water heaters.
- Vero line of electric tankless water heaters can expand into new segments.
- TruCirc's technology can be integrated with other home systems for wider adoption.
Threats
- The Industrials sector faces competition from established manufacturers.
- The Building industry may experience slowdowns affecting product demand.
- The US market could see increased regulatory challenges for new products.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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