Company: OMQS
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001813
Chunk: 33

Company: OMNIQ Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 33
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 perform the audits to obtain
reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company
is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits,
we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion
on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our
audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error
or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding
the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide
a reasonable basis for our opinion.

Critical
Audit Matters 

Critical
audit matters are matters arising from the current period audit of the financial statements that were communicated or required to be
communicated to the board of directors and that: (1) relate to accounts or disclosures that are material to the financial statements
and (2) involved our especially challenging, subjective, or complex judgements. We determined that there are no critical audit matters.

We
have served as the Company’s auditor since 2020.

BARZILY
AND CO., CPA’s

Jerusalem,
Israel

March
31, 2025

F-3

OMNIQ
CORP.

CONSOLIDATED
BALANCE SHEETS

As
of December 31,

    (In
    thousands, except share and per share data) 
    2024  
    2023 

    ASSETS 

    Current assets 

    Cash and cash
    equivalents 
    $2,349  
    $1,678 
  
    Accounts receivable, net 
     20,945  
     18,654 
  
    Inventory 
     7,405  
     6,028 
  
    Prepaid expenses 
     1,085  
     969 
  
    Other
    current assets 
     96  
     25 
  
    Total
    current assets 
     31,880  
     27,354 

    Property and equipment,
    net of accumulated