Company: OMTK
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001096906-25-001885
Chunk: 5

Company: Omnitek Engineering Corp
Filing Date: 2025-11-18
Form: 10-Q
Item: Item 1
Chunk 5
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ITEM 1. FINANCIAL STATEMENTS 

OMNITEK ENGINEERING CORP.

Condensed Balance Sheets

September 30,
 
December 31,

2025 (Unaudited)
 
2024

ASSETS

CURRENT ASSETS

Cash
 
$39,241  
 
$104,445  

Accounts receivable, net
 
4,874  
 
11,075  

Accounts receivable – related parties
 
18,167  
 
3,088  

Inventories, net
 
319,380  
 
267,616  

Deposits
 
337,830  
 
495,540  

Total Current Assets
 
719,492  
 
881,764  

Property & Equipment, net
 
   5,780 
 
8,673 

LONG-TERM ASSETS

Operating lease – right-of-use asset
 
107,961  
 
212,504  

Long-term deposit
 
13,514  
 
13,514  

Total Long-Term Assets
 
121,475  
 
226,018  

TOTAL ASSETS
 
$846,747  
 
$1,116,455  

LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES

Accounts payable and accrued expenses
 
$275,266  
 
$334,223  

Accrued management compensation
 
639,196  
 
636,311  

Accounts payable - related parties
 
38,502  
 
139,834  

Notes payable - related parties
 
116,940  
 
44,940  

Convertible notes payable – related party
 
10,000  
 
10,000  

Customer deposits
 
540,683  
 
845,272  

Operating lease liabilities - current
 
129,520  
 
167,461  

Total Current Liabilities
 
1,750,107  
 
2,178,041  

LONG-TERM LIABILITIES

Loans payable – SBA, net of current portion
 
199,000  
 
199,000  

Operating lease liabilities – long-term
 
-  
 
86,878  

Total Long-term Liabilities
 
199,000  
 
285,878  

Total Liabilities
 
1,949,107  
 
2,463,919  

ST