Company: OMQS
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001813
Chunk: 530

Company: OMNIQ Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7A
Chunk 530
---
, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of
December 31, 2024, and 2023, and the results of its operations and its cash flows for each of the years in the two-year period ended
December 31, 2024, in conformity with accounting principles generally accepted in the United States of America.

We
did not audit portions of the December 31, 2024, and 2023, consolidated financial statements for Dangot Computers, Ltd., a wholly owned
subsidiary. The portions not audited by us include assets of $17.4 million and $20.2 million as of December 31, 2024, and 2023, respectively,
and total revenues of $30.5 million and $44.8 million for the years ended December 31, 2024, and 2023, respectively. Those portions of
the December 31, 2024, and 2023, consolidated financial statements were audited by other auditors whose report has been furnished to
us, and our opinion, insofar as they relate to the amounts included for Dangot Computers, Ltd. is based solely on the reports of the
other auditors.

Consideration
of the Company’s Ability to Continue as a Going Concern

The
accompanying financial statements have been prepared assuming the Company will continue as a going concern. As discussed in Note 3 to
the financial statements, the Company has a deficit in stockholders’ equity and has sustained recurring losses from operations.
This raises substantial doubt about the Company’s ability to continue as a going concern. Management’s plans with regard
to these matters are also described in Note 3. The financial statements do not include any adjustments that might result from the outcome
of this uncertainty.

Basis
for Opinion

These
financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s
financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board
(United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities
laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We
conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain
reasonable assurance about