Company: OMQS
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001813
Chunk: 661

Company: OMNIQ Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9
Chunk 661
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    Cash paid for income taxes 
    $-  
    $- 

The
accompanying notes are integral to these consolidated financial statements.

F-7

OMNIQ
CORP.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

For
the Years Ended December 31, 2024 and 2023

NOTE
1 – NATURE OF OPERATIONS

OMNIQ
Corp., a Delaware corporation, formerly Quest Solution, Inc., together with its wholly owned and majority owned subsidiaries, referred
to herein as “we”, “us”, “our,” “OMNIQ,” or the “Company,” was incorporated
in 1973. Since its incorporation, the Company has been involved in various lines of business.

From
2008 to 2013, we were in the business of developing oil and gas reserves. In January 2014, we determined it was in the best interest
of our stockholders to focus on operating companies with a track record of positive cash flows and larger existing revenue bases. Our
strategy developed into leveraging management’s relationships in the business world for investments for us.

Since
2014, we have made the following acquisitions resulting in us becoming a leading provider of computerized and machine-vision image-processing
solutions:

    ●
    Quest
    Solutions, Inc. (January 2014)

    ●
    Bar
    Code Specialties, Inc. (November 2014)

    ●
    HTS
    Image Processing, Inc. (October 2018)

    ●
    EyepaxIT
    Consulting LLC. (February 2020)

    ●
    Dangot
    Computers Ltd. (July 2021)

    ●
    CodeBlocks
    Ltd. (January 2024)

We
use patented and proprietary artificial intelligence (AI) technology to deliver data collection, real-time surveillance and monitoring
for supply chain management, homeland security, public safety, traffic & parking management, and access control applications. The
technology and services we provide helps our clients move people, assets, and data safely and securely through airports, warehouses,
schools, national borders, and many other applications and environments.

Our
principal solutions include hardware, software, communications, and automated management services. We are an established distributor
of barcode labels, tags, and ribbons, as well as RFID labels and tags. We provide printing solutions, credit card terminals, automatic
kiosks and point-of-care