Company: OMQS
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024877
Chunk: 41

Company: OMNIQ Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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, 2024, was $73 thousand and $73, respectively.
Accrued interest was payable at maturity. This accrued interest balance was $0 as of June 30, 2025.

Note
Payable – Summit

On
June 30, 2025, concurrent with the sale of the business unit, the Company entered into a promissory note for $10
million at 5%
annual interest rate (the “Summit Note”), the note is amortized over 10
years, but a balloon payment in 3
years for the then balance. The Company is required to make 13
payments every year, with annual payments totaling $1,378,852.
Accrued interest as of June 30, 2025 was $0
and the balance as of June 30, 2025 was $10,000,000. At June 30, 2025, the company had put up a $200,000 prepaid expense towards transaction costs with Summit Junction
and this amount appears on the Balance Sheet as a prepaid expenses, related party.

    F-7

NOTE
8 – OTHER NOTES PAYABLE

 SCHEDULE OF OTHER NOTES PAYABLE

    (In
    thousands) 
    June 30, 2025  
    December
    31, 2024 
  
    Note
    payable other 
     7,342  
     8,746 
  
    Less
    current portion 
     (6,932) 
     (8,512)
  
    Long-term
    notes payable 
    $410  
    $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 June 30, 2025, the balance owed is $1,886,466NIS (approx. $528,211 USD).

On
August 11, 2021, the Company purchased vehicles using cash and