Company: OMTK
Filing Date: 2025-04-16
Form Type: 10-K/A
Source: 0001096906-25-000528
Chunk: 32

Company: Omnitek Engineering Corp
Filing Date: 2025-04-16
Form: 10-K/A
Chunk 32
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 if any. As of the date of this report, no shares of preferred stock were issued and outstanding. Payment of dividends on the Common Stock and Preferred Stock is within the discretion of the Board of Directors, is subject to state law, and will depend upon the Company's earnings, if any, its capital requirements, financial condition and other relevant factors. Transfer Agent and Registrar Our transfer agent is Colonial Stock Transfer Company, Inc., whose address is 7840 S. 700 E., Sandy, Utah 84070. Recent Sales of Unregistered Securities None. ITEM 6. RESERVED ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act relating to future events or our future performance. The following discussion should be read in conjunction with our consolidated financial statements and notes to our financial statements included elsewhere in this report. This discussion contains forward-looking statements that relate to futureevents or our future performance. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, we cannot assure that the underlying assumptions will, in fact, prove to be correct or that actual results will not be different from expectations expressed in this report. Results of Operations For the years ended December 31, 2024 and 2023 Revenues were $1,019,726 for 2024 compared with $1,055,314 in 2023, a decrease of $35,588, or 3.4%. The Company’s revenues remained steady between 2024 and 2023. Total cost of goods sold decreased to $561,853 in 2024 from $644,660 in 2023, for a decrease of $82,807. Gross margin was $457,873 in 2024 compared with $410,654 in 2023. Gross margin as a percentage of sales for 2024 was 45 percent compared with 39 percent in 2023. Our operating expenses for 2024 were $606,373 compared with $606,794 in 2023, a decrease of $421, or 0.06%. General and administrative expense for 2024 was $532,721 compared with $537,473 in 2023. Major components of general and administrative expenses in 2024 were insurance expense of $63,971, rent expense of $43,038and salary and wages of $