Company: OMQS
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010783
Chunk: 6

Company: OMNIQ Corp.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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 year ended December 31, 2024 (the “2024 Form 10-K”).

We describe our significant accounting policies in
Note 2 of the notes to consolidated financial statements in the 2024 Form 10-K. During the three-month period ended March 31, 2025, there
were no significant changes to those accounting policies other than below.

Accounting Standards Updates

ASU 2023-09, “Income Taxes (Topic 740), Improvement
to Income Tax Disclosures.” The amendments in ASU 2023-09 require an entity to disclose specific categories in the rate reconciliation
and provide additional information for reconciling items that meet a quantitative threshold, which is greater than five percent of the
amount computed by multiplying pretax income by the entity’s applicable statutory rate, on an annual basis. Additionally, the amendments
in this ASU require an entity to disclose the amount of income taxes paid (net of refunds received) disaggregated by federal, state, and
foreign taxes and the amount of income taxes paid (net of refunds received) disaggregated by individual jurisdictions that are equal to
or greater than five percent of total income taxes paid (net of refunds received). Lastly, the amendments in this ASU require an entity
to disclose income (or loss) from continuing operations before income tax expense (or benefit) disaggregated between domestic and foreign
and income tax expense (or benefit) from continuing operations disaggregated by federal, state, and foreign. This ASU is effective for
annual periods beginning after December 15, 2024. Early adoption is permitted. The amendments should be applied on a prospective basis;
however, retrospective application is permitted. The adoption of ASU 2023-09 is not expected to have a material impact on the Company’s
financial statements.

Net Loss Per Common Share

Net loss per share is provided in accordance with
FASB ASC 260-10, “Earnings per Share”. Basic net loss per common share (“EPS”) is computed by dividing income
available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share
is computed by dividing net income by the weighted average shares outstanding, assuming all dilutive potential common shares were issued,
unless doing so is anti-dilutive. The weighted-average number of common shares outstanding for computing basic EPS for the three-months
ended March 31, 2025, and 2024 were 10,712,930 and