Company: OMQS
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001813
Chunk: 478

Company: OMNIQ Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 478
---
 (1,444)
  
    Proceeds from the issuance
    of notes/loans payable 
     -  
     393 
  
    Proceeds
    from draw on line of credit 
     292  
     (1,628)
  
    Net cash (used in) provided
    by financing activities 
     (2,871) 
     (50)

    Net change in cash and cash equivalents 
     (535) 
     (211)

    Effect of foreign exchange rates on cash and
    cash equivalents 
     1,206  
     578 

    Cash
    and cash equivalents at beginning of period 
     1,678  
     1,311 

    Cash
    and cash equivalents at end of period 
    $2,349  
    $1,678 

    Non-cash activities: 

    Declared dividends payable 
    $23  
    $32 
  
    Net assets acquired in
    business combination 
    $1,143  
    $-  
  
    Right of use asset acquired
    in exchange for lease liability 
    $-  
    $1,110 
  
    Supplemental disclosure
    of cash flow information: 
        
    $  
  
    Cash paid for interest 
    $3,464  
    $3,318 
  
    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