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

Company: OMNIQ Corp.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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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, the Company entered into a
long-term loan from Hapoalim Bank totaling NIS 3 million, approximately US $0.9 million. The note accrues interest at 7.28%
per annum (Israeli Prime Rate plus 1.28%) and is payable in 36 installments of principal and interest over 3 years.
The balance at March 31, 2025 was approximately $0.14 million.

During the year ended December 31, 2023, the Company
entered into a short-term loan Hapoalim Bank totaling NIS 2.5 million, approximately US $0.67 million. The note accrues
interest at 7.3% per annum. The loan is renewed every month at Israeli Prime Rate plus + 1.3%, which at December 31, 2024 was 7.3%.
In February 2024, NIS 1.5 million of the loan