Company: OMTK
Filing Date: 2025-04-16
Form Type: 10-K/A
Source: 0001096906-25-000528
Chunk: 9

Company: Omnitek Engineering Corp
Filing Date: 2025-04-16
Form: 10-K/A
Chunk 9
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 into agreements with various companies in the USA and around the world. Need of governmental approvals of principal products or services Engine conversions in the United States are subject to regulations imposed by the U.S. Environmental Protection Agency (“EPA”), and in California, the California Air Resources Board (“CARB”). Engine conversions in Europe, and certain other regions, are subject to regulations imposed by the European Union (“EU”), or local authorities. Effect of existing or probable governmental regulations on the business Omnitek is subject to the requirements of Regulation 13A under the Exchange Act, which require us to file with the Securities and Exchange Commission (the “Commission”), annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K, and all other obligations of the Exchange Act applicable to issuers with stock registered pursuant to Section 12(g). We are also subject to Regulation 14A of the Securities Exchange Act of 1934, as amended (the “1934 Act”), which regulates proxy solicitations. Page 9 Management believes that these reporting obligations increase the Company’s annual legal and accounting costs by an estimated $55,000. Omnitek is not aware of any other governmental regulations now in existence or that may arise in the future that would have an effect on the Company’s business. Research and Development Research and development expenditures for 2024 and 2023, were $70,323 and $67,576 respectively, and were comprised of labor costs and charges for the purchase of equipment and parts for R&D. In some cases, Omnitek is contracted to develop a specific engine or component. In these cases, Omnitek requires an up-front payment from the customer. Costs and effects of compliance with environmental laws Except as discussed above regarding EPA, CARB and EU emissions certification, our business activities are not subject to any environmental laws, and we do not anticipate that our future business activities will subject the Company to any environmental compliance regulations. Number of total employees and number of full-time employees As of the date of this report, the Company had a total of six full-time employees. We believe we have a good working relationship with our employees, who are not represented by a collective bargaining organization, and there are no organized labor agreements or union agreements between Omnitek and any employees. On occasion we outsource certain services and intend to continue to utilize the services of independent consultants and contractors when needed. We believe that this use of third-party service providers will enhance our ability to contain general and administrative expenses