Company: OMTK
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001096906-25-000515
Chunk: 45

Company: Omnitek Engineering Corp
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 45
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. They may also affect the ability of shareholders to resell their securities in the secondary market.

Dependence upon key personnel

Our success in developing marketable products and achieving a competitive position will depend, in part, on its ability to retain qualified engineers, management and marketing personnel and in particular, to retain the services of Mr. Werner Funk, upon whom we are reliant on for the development of products for the Company.

In the event of the death, incapacity or departure of Mr. Funk from Omnitek, it is unlikely that we would be able to continue conducting our business plan in a timely manner. Even if we are able to find additional personnel to replace Mr. Funk, it is uncertain whether we could find someone who could develop our business along the lines described in this report. 

Omnitek has an Employment Agreement in place with Mr. Funk that provides for continued service in his current capacities through May 3, 2027 and thereafter on a year-to-year basis. See “Narrative Disclosure to Summary Compensation Table” for details of Employment Agreements.