Company: OMTK
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001096906-25-001378
Chunk: 0

Company: Omnitek Engineering Corp
Filing Date: 2025-08-19
Form: 10-Q
Item: Item 1
Chunk 0
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ITEM 1. FINANCIAL STATEMENTS 

OMNITEK ENGINEERING CORP.

Condensed Balance Sheets

June 30,
2025
 
December 31,
2024

(Unaudited)
 
(Audited)

ASSETS

CURRENT ASSETS

Cash
 
$32,636  
 
$104,445  

Accounts receivable, net
 
3,654  
 
11,075  

Accounts receivable – related parties
 
13,089  
 
3,088  

Inventories, net
 
325,861  
 
267,616  

Deposits
 
337,136  
 
495,540  

Total Current Assets
 
712,376  
 
881,764  

Property & Equipment, net
 
6,744  
 
8,673  

LONG-TERM ASSETS

Operating lease – right-of-use asset
 
143,358  
 
212,504  

Long-term deposit
 
13,514  
 
13,514  

Total Long-Term Assets
 
156,872  
 
226,018  

TOTAL ASSETS
 
$875,992  
 
$1,116,455  

LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES

Accounts payable and accrued expenses
 
$263,323  
 
$334,223  

Accrued management compensation
 
635,734  
 
636,311  

Accounts payable - related parties
 
140,516  
 
139,834  

Notes payable - related parties
 
101,940  
 
44,940  

Convertible notes payable – related party
 
10,000  
 
10,000  

Customer deposits
 
598,327  
 
845,272  

Operating lease liabilities - current
 
171,641  
 
167,461  

Total Current Liabilities
 
1,921,481  
 
2,178,041  

LONG-TERM LIABILITIES

Loans payable – SBA, net of current portion
 
199,000  
 
199,000  

Operating lease liabilities – long-term
 
-  
 
86,878  

Total Long-term Liabilities
 
199,000  
 
285,878  

Total Liabilities
 
2,120,481  
 
2,463,919