Company: OMQS
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001813
Chunk: 354

Company: OMNIQ Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 354
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    Total 
    $234 

Other
Notes Payable

On
July 29, 2021, the Company entered into a long-term loan from Leumi Bank totaling NIS 7
million, which at the time was approximately $2.16
million. The note accrues interest at the Israeli Prime Rate plus 4.5%
which currently equals 8.25%
per annum and is payable in 8
instalments of principal and interest over 4
years. The note is secured by shares of Dangot Computers, Ltd At December 31, 2024, the balance owed is $1,815,840.

On
August 11, 2021, the Company purchased vehicles using cash and financing of NIS 500 thousand, approximately $155 thousand, to be paid
off in monthly interest and principal payments over 5 years. The loan accrues interest at 7.5% per annum and is secured by the vehicles.

On
September 13, 2022, the Company entered into a long-term loan from Hapoalim Bank totaling NIS 3 million, approximately US $0.9 million.
The note accrues interest at 7.28% per annum (Israeli Prime Rate plus 1.28%) and is payable in 36 instalments of principal and interest
over 3 years.

During
the year ended December 31, 2023, the Company entered into a short-term loan Hapoalim Bank totaling NIS 5.5
million, approximately US $1.5
million. The note accrues interest at 7.3%
per annum. The loan is renewed every month at Israeli Prime Rate plus + 1.3%,
which at December 31, 2024 was 7.3%.
In February 2024, NIS 1.5
million of the loan was converted into a short-term loan to be repaid in 12
installments, bearing interest at Prime + 1.5%.
In July 2024, an additional 1.5
million was converted into a long-term loan to be repaid in 20
installments, bearing interest at a rate of Prime + 1.5%. At December 31, 2024, the Company owed Hapoalim Bank USD $1.39 million.

During
the year ended December 31, 2023, the Company entered into a short-term loan