Company: OMQS
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010783
Chunk: 27

Company: OMNIQ Corp.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 27
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 balance as of March 31, 2025, was $0.

NOTE 7 – RELATED PARTY NOTES PAYABLE

Note Payable – Marin

In December 2017, we entered
into a $660 thousand note payable at 1.89% annual interest rate (the “Marin Note”) with two individuals from whom
we previously acquired their company (in 2014). The Marin Note was payable in 60 monthly principal payments of
$20 thousand beginning in October 2018. Accrued interest payable as of March 31, 2025 and December 31, 2024, was
$73 thousand and $73, respectively. Accrued interest was payable at maturity. This accrued interest was outstanding as of March
31, 2025.

    F-7

NOTE 8 – OTHER NOTES PAYABLE

 SCHEDULE OF OTHER NOTES PAYABLE

    (In thousands) 
    March 31, 2025  
    December 31, 2024 
  
    Note payable other 
     8,501  
     8,746 
  
    Less current portion 
     (7,857) 
     (8,512)
  
    Long-term notes payable 
    $644  
    $234 

Notes Payable Other

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 and at March 31, 2025, the balance owed is $1,886,466NIS (approx. $528,211 USD).

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