Company: OMTK
Filing Date: 2025-04-16
Form Type: 10-K/A
Source: 0001096906-25-000528
Chunk: 68

Company: Omnitek Engineering Corp
Filing Date: 2025-04-16
Form: 10-K/A
Chunk 68
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, the Company had prepayments of $ 494,140as of December 31, 2024, and $ 23,113as of December 31, 2023, and had commitments for future cash outlays for inventory totaling $ 218,156and $ 172,493, respectively. NOTE 11 – RELATED PARTY TRANSACTIONS Accounts Payable – Related Parties The Company regularly incurs expenses that are paid to related parties for purchases of goods and services from related parties. As of December 31, 2024, and December 31, 2023, the Company owed board members for such goods and services $ 139,834and $ 131,285respectively. Page F-15 OMNITEK ENGINEERING CORP. Notes to Financial Statements December 31, 2024, and 2023

NOTE 11 – RELATED PARTY TRANSACTIONS (continued)

Accounts Receivable – Related Parties

As of December 31, 2024, and December 31, 2023, the Company was owed $ and $, respectively, by an entity controlled by the Company’s CEO for the purchase of products and services.

Accrued Management Expenses

During the periods ended December 31, 2024, and December 31, 2023, the Company’s president was due amounts for services performed for the Company. As of December 31, 2024, and December 31, 2023 the accrued management fees consisted of the following:

|                              |   | December 31, 2024 |     |   | December 31, 2023 |
|:-----------------------------|:--|------------------:|:----|:--|------------------:|
| Amounts due to the president | $ |           636,311 |     | $ |           635,158 |
| Total                        | $ |           636,311 |     | $ |           635,158 |

NOTE 12 – STOCKHOLDERS’ EQUITY Options and Warrants The Company has no warrants outstanding. On April 14, 2023, options to purchase 720,000shares of common Stock expired. On February 9, 2024, options to purchase 855,556 shares of common stock expired. During the years ended December 31, 2024, and 2023, the Company granted 450,000and 150,000options for services, respectively. During the years ended December 31,