UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549  FORM 10-Q  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934  For the quarterly period ended:  March 31, 2011  Commission file number: 000-53955  OMNITEK ENGINEERING CORP. (Exact name of Registrant as specified in Its Charter)  California33-0984450(State or Other Jurisdiction of Incorporation or Organization)(I.R.S. Employer Identification No.)  1945 S. Rancho Santa Fe Road, San Marcos, California, 92078 (Address of Principal Executive Offices)  760-591-0089 (Registrant's Telephone Number, including area code)  Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X. No .  Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.   See definitions of large accelerated filer, accelerated filer and smaller reporting company in Rule 12b-2 of the Exchange Act.  Large accelerated filer.Accelerated filer.Non-accelerated filer. (Do not check if a smaller reporting company)Smaller reporting companyX.  Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes . No X.  As of May 9, 2011, there were 15,704,042 shares of the issuer's Common Stock, no par value, issued and outstanding.      OMNITEK ENGINEERING CORP.  Quarterly Report on Form 10-Q  For the Quarterly Period Ended March 31, 2011   INDEX   PART I  FINANCIAL INFORMATIONItem 1.Financial Statements1Item 2.Management's Discussion and Analysis of Financial Condition and Results of Operations9Item 3.Quantitative and Qualitative Disclosure About Market Risk12Item 4T.Controls and Procedures12PART II  OTHER INFORMATIONItem 1.Legal Proceedings12Item 1A.Risk Factors12Item 2.Unregistered Sales of Equity Securities and Use of Proceeds12Item 3.Defaults Upon Senior Securities13Item 5.Other Information13Item 6.Exhibits13    ii     PART I - FINANCIAL INFORMATION   Item 1 - Financial Statements  The accompanying unaudited financial statements have been prepared in accordance with the instructions to Form 10-Q pursuant to the rules and regulations of the Securities and Exchange Commission and, therefore, do not include all information and footnotes necessary for a complete presentation of our financial position, results of operations, cash flows, and stockholders' deficit in conformity with generally accepted accounting principles in the United States of America.  In the opinion of management, all adjustments considered necessary for a fair presentation of the consolidated results of operations and financial position have been included and all such adjustments are of a normal recurring nature.  Our unaudited consolidated balance sheet as of March 31, 2011 and our unaudited consolidated statements of operations for the three month periods ended March 31, 2011 and 2010, and the unaudited consolidated statements of cash flows for the three month periods ended March 31, 2011 and 2010, are attached hereto and incorporated herein by this reference.   1      OMNITEK ENGINEERING CORP.Balance SheetsASSETSMarch 31,December 31,20112010(unaudited)(audited)CURRENT ASSETSCash$31,945$34,944Accounts receivable, net of allowance of $10,00020,34428,117Accounts receivable -related party30,295-Inventory, net959,2361,055,047Deposits112,28873,412Total Current Assets1,154,1081,191,520FIXED ASSETS, net10,530-OTHER ASSETSIntellectual property, net56,21776,518Total Current Assets56,21776,518TOTAL ASSETS$1,220,855$1,268,038LIABILITIES AND STOCKHOLDERS' EQUITYCURRENT LIABILITIESAccounts payable and accrued expenses$66,348$136,936Accrued expenses - related parties383,965395,888Accounts payable - related parties3,2904,068Customer deposits282,431333,887Total Current Liabilities736,033870,779Total Liabilities736,033870,779STOCKHOLDERS' EQUITYCommon stock, 25,000,000 shares authorized, no par value15,659,829 shares issued and outstanding2,374,7992,374,799Additional paid-in capital4,074,0594,004,607Accumulated deficit(5,964,036)(5,982,147)Total Stockholders' Equity484,822397,259TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$1,220,855$1,268,038  The accompanying notes are an integral part of these consolidated financial statements.  2      OMNITEK ENGINEERING CORP.Statements of Operations(unaudited)For the ThreeFor the ThreeMonths EndedMonths EndedMarch 31,March 31,20112010REVENUES$615,256$417,242COST OF GOODS SOLD282,630251,252GROSS MARGIN332,626165,990OPERATING EXPENSESGeneral and administrative265,857621,750Research and development expense27,46538,712Depreciation and amortization expense20,39323,731Total Operating Expenses313,715684,193INCOME (LOSS) FROM OPERATIONS18,911(518,203)OTHER INCOME (EXPENSE)Interest expense-(7,803)Interest income-1,670TOTAL OTHER INCOME (EXPENSE)-(6,133)NET INCOME (LOSS) BEFORE INCOME TAXES18,911(524,336)INCOME TAX EXPENSE (BENEFIT)800800NET INCOME (LOSS)$18,111$(525,136)BASIC AND DILUTED LOSS PER SHARE$0.00$(0.03)WEIGHTED AVERAGE NUMBEROF COMMON SHARES OUTSTANDING15,659,82916,146,564  The accompanying notes are an integral part of these consolidated financial statements.  3


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|------------------------------------- | ------------ |  | ------- | --------- | ----------- | ---------- | ------------- |  | ------ | ----------- | ----- | - | -----------
|OMNITEK ENGINEERING CORP.            
|Statements of Stockholders' Equity   
|                                      |              |  |         |           |             |            |               |  |        |             |       |   |            
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|                                      |              |  |         |           |             |            |               |  |        |             |       |   |            
|                                      |              |  |         |           |             | Additional |               |  |        |             | Total
|                                      | Common Stock |  | Paid-In |           | Accumulated |            | Stockholders'
|                                      | Shares       |  | Amount  |           | Capital     |            | Deficit       |  | Equity
|                                      |              |  |         |           |             |            |               |  |        |             |       |   |            
|Balance, December 31, 2009            | 16,127,675   |  | $       | 2,330,476 |             | $          | 3,366,794     |  | $      | (4,826,705) |       | $ | 870,565    
|                                      |              |  |         |           |             |            |               |  |        |             |       |   |            
|Common stock issued in                |              |  |         |           |             |            |               |  |        |             |       |   |            
|payment of debt                       | 94,654       |  |         | 18,698    |             |            | -             |  |        | -           |       |   | 18,698     
|                                      |              |  |         |           |             |            |               |  |        |             |       |   |            
|Common stock forfeited                | (600,000)    |  |         | -         |             |            | -             |  |        | -           |       |   | -          
|                                      |              |  |         |           |             |            |               |  |        |             |       |   |            
|Common stock cancelled as             |              |  |         |           |             |            |               |  |        |             |       |   |            
|collateral for note payable           | (100,000)    |  |         | -         |             |            | -             |  |        | -           |       |   | -          
|                                      |              |  |         |           |             |            |               |  |        |             |       |   |            
|Common stock issued for               |              |  |         |           |             |            |               |  |        |             |       |   |            
|services                              | 137,500      |  |         | 25,625    |             |            | -             |  |        | -           |       |   | 25,625     
|                                      |              |  |         |           |             |            |               |  |        |             |       |   |            
|Compensation expense recognized       |              |  |         |           |             |            |               |  |        |             |       |   |            
|on options and warrants               | -            |  |         | -         |             |            | 637,813       |  |        | -           |       |   | 637,813    
|                                      |              |  |         |           |             |            |               |  |        |             |       |   |            
|Net loss for the year ended           |              |  |         |           |             |            |               |  |        |             |       |   |            
|December 31, 2010                     | -            |  |         | -         |             |            | -             |  |        | (1,155,442) |       |   | (1,155,442)
|                                      |              |  |         |           |             |            |               |  |        |             |       |   |            
|Balance, December 31, 2010            | 15,659,829   |  |         | 2,374,799 |             |            | 4,004,607     |  |        | (5,982,147) |       |   | 397,259    
|                                      |              |  |         |           |             |            |               |  |        |             |       |   |            
|Value of options and warrants         |              |  |         |           |             |            |               |  |        |             |       |   |            
|issued for services (unaudited)       | -            |  |         | -         |             |            | 69,452        |  |        | -           |       |   | 69,452     
|                                      |              |  |         |           |             |            |               |  |        |             |       |   |            
|Net income for the three months ended |              |  |         |           |             |            |               |  |        |             |       |  
|March 31, 2011 (unaudited)            | -            |  |         | -         |             |            | -             |  |        | 18,111      |       |   | 18,111     
|                                      |              |  |         |           |             |            |               |  |        |             |       |   |            
|Balance, March 31, 2011 (unaudited)   | 15,659,829   |  | $       | 2,374,799 |             | $          | 4,074,059     |  | $      | (5,964,036) |       | $ | 484,822    

The accompanying notes are an integral part of these consolidated financial statements.  4      OMNITEK ENGINEERING CORP.Statements of Cash Flows(unaudited)For the ThreeFor the ThreeMonths EndedMonths EndedMarch 31,March 31,20112010OPERATING ACTIVITIESNet income (loss)$18,111$(525,136)Adjustments to reconcile net income (loss) tonet cash provided (used) by operating activities:Amortization and depreciation expense20,39223,731Options and warrants granted69,452379,067Contributed interest-5,543Changes in operating assets and liabilities:(Increase) decrease in accounts receivable7,773(22,531)(Increase) decrease in accounts receivable-related parties(30,295)23,323(Increase) decrease in deposits(38,876)2,261(Increase) decrease in inventory95,811(59,276)Increase (decrease) in accounts payable and accrued expenses(71,366)94,178Increase (decrease) in customer deposits(51,456)51,942Increase (decrease) in accrued expenses-related parties(11,924)(10,305)Net Cash Provided (Used) by Operating Activities7,622(37,203)INVESTING ACTIVITIESPurchase of intellectual property-(750)Purchase of property and equipment(10,621)-Net Cash Used in Investing Activities(10,621)(750)FINANCING ACTIVITIESRepayment of note payable-(24,395)Net Cash Used in Financing Activities-(24,395)NET DECREASE IN CASH(2,999)(62,348)CASH AT BEGINNING OF PERIOD34,94478,991CASH AT END OF PERIOD$31,945$16,643SUPPLEMENTAL DISCLOSURES OFCASH FLOW INFORMATIONCASH PAID FOR:Interest$-$2,260Income taxes$800$800NON CASH FINANCING ACTIVITIES:Common stock issued for debt$-$7,500   The accompanying notes are an integral part of these consolidated financial statements.  5   OMNITEK ENGINEERING CORP. Condensed Notes to Financial Statements March 31, 2011   NOTE 1 - CONDENSED FINANCIAL STATEMENTS  The accompanying financial statements have been prepared by the Company without audit.  In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at March 31, 2011, and for all periods presented herein, have been made.  Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted.  It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company's December 31, 2010 audited financial statements.  The results of operations for the periods ended March 31, 2011 and 2010 are not necessarily indicative of the operating results for the full years.  NOTE 2  SIGNIFICANT ACCOUNTING POLICIES  Use of Estimates  The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.  Recent Accounting Pronouncements  The Company has evaluated recent accounting pronouncements and their adoption has not had or is not expected to have a material impact on the Companys financial position, or statements.  Inventory  Inventory is stated at the lower of cost or market.  The Companys inventory consists of finished goods and raw material and is located in San Marcos, California at March 31, 2011 and December 31, 2010 consisted of the following:  March 31,December 31,20112010Location:San Marcos, CARaw materials$891,315$1,021,762Finished goods676,996642,360Peru (finished goods)18,45418,454Allowance for obsolete inventory(627,529)(627,529)$959,236$1,055,047  The Company has established an allowance for obsolete inventory.  Expense for obsolete inventory was $-0- and $171,331 for the three months ended March 31, 2011 and the year ended December 31, 2010 respectively.  6   OMNITEK ENGINEERING CORP. Condensed Notes to Financial Statements March 31, 2011   NOTE 2  SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)  Income Taxes  The Company accounts for income taxes in accordance with Accounting Standards Codification Topic 740, Income Taxes ("Topic 740"), which requires the recognition of deferred tax liabilities and assets at currently enacted tax rates for the expected future tax consequences of events that have been included in the financial statements or tax returns. A valuation allowance is recognized to reduce the net deferred tax asset to an amount that is more likely than not to be realized.  Topic 740 provides guidance on the accounting for uncertainty in income taxes recognized in a company's financial statements. Topic 740 requires a company to determine whether it is more likely than not that a tax position will be sustained upon examination based upon the technical merits of the position. If the more likely-than-not threshold is met, a company must measure the tax position to determine the amount to recognize in the financial statements.  At the adoption date of November 1, 2007, the Company had no unrecognized tax benefit which would affect the effective tax rate if recognized. The Company includes interest and penalties arising from the underpayment of income taxes in the statements of operations in the provision for income taxes. As of March 31, 2011 and December 31, 2010 the Company had no accrued interest or penalties related to uncertain tax positions. The Company files an income tax return in the U.S. federal jurisdiction and the state of California. With few exceptions, the Company is no longer subject to U.S. federal, state, and local, or non-U.S. income tax examinations by tax authorities for years before 2006.  NOTE 4 - RELATED PARTY TRANSACTIONS  Accounts Receivable  Related Parties  During the years ended December 31, 2007 through 2009, the Company acquired a minority interest in various distributors in exchange for use of the Companys name and Logo. As of March 31, 2011, the Company owned a 15% interest in Omnitek Engineering Thailand Co. Ltd., a 20% interest in Omnitek Peru S.A.C.  As of March 31, 2011 and December 31, 2010, the Company was owed $30,295 and $-0-, respectively, by related parties for the purchase of products.  Accounts Payable  Related Parties  The Company regularly incurs expenses that are paid for by related parties and purchases goods and services from related parties. As of March 31, 2011 and December 31, 2010, the Company owed related parties for such expenses, goods and services in the amounts of $3,290 and $4,068, respectively.  Accrued Expenses  Related Parties  As of March 31, 2011 and December 31, 2010, related parties were owed $383,965 and $395,888, respectively, for services performed for the Company.  7   OMNITEK ENGINEERING CORP. Condensed Notes to Financial Statements March 31, 2011   NOTE 5 -  STOCK OPTIONS  During the three months ended March 31, 2011 and 2010, the Company recognized expense of $69,452 and $379,067, respectively, for options that vested during the periods pursuant to ASC Topic 718.  In April 2007, the Companys shareholders approved its 2006 Long-Term Incentive Plan (the Plan). Under the plan, the Company may issue up to 10,000,000 shares of both Incentive Stock Options to employees only and Non-Qualified Stock Options to employees and consultants at its discretion.  As of March 31, 2011 the Company has a total of 3,320,000 options issued under the plan.  No options were issued under the plan during the periods ended March 31, 2011 and December 31, 2010.  A summary of the status of the options and warrants granted at March 31, 2011 and December 31, 2010 and changes during the periods then ended is presented below:  20112010SharesWeighted
Average
Exercise
PriceSharesWeighted
Average
Exercise
PriceOutstanding at beginning of period5,870,000$0.525,170,000$0.57Granted--700,0000.13Expired or cancelled(1,200,000)0.87--Outstanding at end of period4,670,0000.545,870,0000.52Exercisable3,550,000$0.504,750,000$0.48  A summary of the status of the options and warrants outstanding at March 31, 2011 is presented below: Range of
Exercise
PricesWeighted
Average
Remaining
Contractual
LifeWeighted-
Average
Exercise
PriceNumber
OutstandingNumber
Exercisable$0.01-0.501,950,0002.0 years1,350,000$0.230.51-0.751,580,0001.6 years1,580,0000.630.76-1.001,140,0001.5 years620,0000.94$0.01-1.004,670,0001.8 years3,550,000$0.54   NOTE 6 - SUBSEQUENT EVENTS  On April 4, 2011, the Company issued 44,213 shares of its common stock upon the exercise of warrants by the Companys attorney.  In accordance with ASC 855-10, Company management reviewed all material events through the date of this report.  There are no material subsequent events to report.    8     Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations  The following discussion of our financial condition and results of operations should be read in conjunction with the financial statements and related notes to the financial statements included elsewhere in this periodic report.  Some of the statements under Managements Discussion and Analysis, Description of Business and elsewhere herein may include forward-looking statements which reflect our current views with respect to future events and financial performance. These statements include forward-looking statements both with respect to us specifically and the alternative fuels engines industry in general. Statements which include the words expect, intend, plan, believe, project, anticipate, will, and similar statements of a future or forward-looking nature identify forward-looking statements for purposes of the federal securities laws or otherwise. The safe harbor provisions of the federal securities laws do not apply to any forward-looking statements contained in this registration statement.  All forward-looking statements address such matters that involve risks and uncertainties. Accordingly, there are or will be important factors that could cause our actual results to differ materially from those indicated in these statements. We undertake no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise.  If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may vary materially from what we projected. Any forward-looking statements you read herein reflect our current views with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to our written and oral forward-looking statements attributable to us or individuals acting on our behalf and such statements are expressly qualified in their entirety by this paragraph.  A. Results of Operations  For the three months ended March 31, 2011 and 2010  Our sales increased to $615,256 in 2011 from $417,242 in 2010, an increase of $198,014 or 47%.  Our cost of sales rose to $282,630 in 2011 from $251,252 in 2010, an increase of $31,378 or 12%. Our gross margin was 54% in 2011 compared to 40% in 2010. We expect that our gross margin will continue in these ranges until our operations grow sufficiently to allow us to negotiate better pricing for our components.  Our operating expenses for 2011 were $313,715 compared to $684,193 in 2010, a decrease of $370,478 or 54%.  General and administrative expense for 2011 was $265,857 or 85% of operating expenses as compared to $621,750 or 91% in 2010. The decrease is due primarily to the decrease in expense related to stock options issued for services of $379,067 in 2010 as compared to $69,452 in 2011.  Major components of general and administrative expenses during 2011 were professional fees of $27,560, 10% of total G&A, rent expense of $30,998, 12%, and salary and wages of $78,682, 30%. This compares to professional fees of $52,738, rent expense of $31,598 and salaries and wages of $82,023 during 2010.   In 2010 professional fees were higher by approximately $25,000 due to legal and accounting expenses incurred in connection with the filing of our registration statement. We decreased research and development outlays to $27,465 in 2011 from $38,712 in 2010.  Our net income for the three months ended March 31, 2011 was $18,111, compared to a net loss of $524,436 in 2010. We turned from loss to income because of decreased professional fees, decreased option expense and cost cutting efforts.  B. Managements Discussion and Analysis of Financial Condition and Results of Operations.  Cash Requirements  We believe that we will have sufficient cash from operations to meet our operating requirements for the proximate 12 months.  9     Liquidity and Capital Resources  Overview  For the Three Months Ended March 31, 2011 and 2010  We have historically incurred significant losses which have resulted in a total accumulated deficit of $5,964,036 at March 31, 2011.  At March 31, 2011, our current liabilities totaled $736,033 and our current assets totaled $1,154,108, resulting in positive working capital of $418,075 and a current ratio of 1.57.  We believe that through the collection of accounts receivable and the sale of inventory, in the normal course of business, we will meet our obligations on a timely basis. We believe that our liquidity is sufficient for at least the next twelve months.  We have no firm commitments or obligations for capital expenditures. However, substantial discretionary expenditures will be required to enable us to conduct existing and planned product research, design, development, manufacturing, marketing and distribution of our products and Intellectual Property. We may need to raise additional capital to facilitate growth and support our long-term product development, manufacturing, and marketing programs. The Company has no established bank-financing arrangements and until we have sufficient assets, capital, and inventory or accounts receivable, it is not anticipated that we will secure any bank financing in the near future. Therefore, it is likely that we may need to seek additional financing through subsequent future public or private sales of our securities, including equity securities. We may also seek funding for the development, manufacturing, and marketing of its products through strategic partnerships and other arrangements with corporate partners. There can be no assurance, however, that such collaborative arrangements or additional funds will be available when needed, or on terms acceptable to us, if at all. If adequate funds are not available, we may be required to curtail one or more of our research and development programs.  Operating Activities  We have realized a positive cash flow from operations of $7,622 for the three months ended March 31, 2011 compared to a negative cash flow of $37,203 during the three months ended March 31, 2010. Included in the net income are non cash expenses which are not a drain on our capital resources. During 2011, these expenses include the value of options and warrants granted in the amount of $69,452 and depreciation and amortization of $20,392. Excluding these non cash amounts our net income for the three months ended March 31, 2011 would have increased by $89,844 to $107,955.  Off-Balance Sheet Arrangements  None.  Critical Accounting Policies and Estimates  The Company's financial statements are prepared using the accrual method of accounting. The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Areas where significant estimates are required include the following:  Trade receivables are carried at original invoice amount less an estimate made for doubtful receivables based on a review of all outstanding amounts on a monthly basis. Management determines the allowance for doubtful accounts by identifying troubled accounts and by using historical experience applied to an aging of accounts.  10     Inventory is stated at the lower of cost or market. The Companys inventory consists of finished goods and raw material. The Company identifies items in its inventory that have not been sold in a timely manner. Accordingly, the Company has established an allowance for the cost of such obsolete inventory.  The Company assesses the recoverability of its long lived assets annually and whenever circumstances would indicate that there may be an impairment. The Company compares the estimated undiscounted future cash flows to the carrying value of the long lived assets to determine if an impairment has occurred. In the event that an impairment has occurred, the Company recognizes the impairment immediately.  The Company accounts for income taxes in accordance with Accounting Standards Codification Topic 740, which requires the recognition of deferred tax liabilities and assets at currently enacted tax rates for the expected future tax consequences of events that have been included in the financial statements or tax returns. A valuation allowance is recognized to reduce the net deferred tax asset to an amount that is more likely than not to be realized. The Company uses historical experience to determine the likely-hood of realization of deferred tax liabilities and assets.  Revenue Recognition  The Company recognizes revenue from the sale of new engines for use with compressed natural gas and engine components to convert existing engines to compressed natural gas use. Revenue is recognized upon shipment of the products, and when collection is reasonably assured.  Accounting for Income Taxes  The Company accounts for income taxes in accordance with Accounting Standards Codification Topic 740, Income Taxes ("Topic 740"), which requires the recognition of deferred tax liabilities and assets at currently enacted tax rates for the expected future tax consequences of events that have been included in the financial statements or tax returns. A valuation allowance is recognized to reduce the net deferred tax asset to an amount that is more likely than not to be realized.  Topic 740 provides guidance on the accounting for uncertainty in income taxes recognized in a company's financial statements. Topic 740 requires a company to determine whether it is more likely than not that a tax position will be sustained upon examination based upon the technical merits of the position. If the more likely-than-not threshold is met, a company must measure the tax position to determine the amount to recognize in the financial statements.  At the adoption date of November 1, 2007, the Company had no unrecognized tax benefit which would affect the effective tax rate if recognized.  The Company includes interest and penalties arising from the underpayment of income taxes in the statements of operations in the provision for income taxes. As of December 31, 2009, the Company had no accrued interest or penalties related to uncertain tax positions.  The Company files an income tax return in the U.S. federal jurisdiction and the state of California. With few exceptions, the Company is no longer subject to U.S. federal, state, and local, or non-U.S. income tax examinations by tax authorities for years before 2006.  At December 31, 2010, the Company had net operating loss carry forwards of approximately $685,000 through 2030. No tax benefit has been reported in the December 31, 2010 financial statements since the potential tax benefit is offset by a valuation allowance of the same amount.  Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur, net operating loss carry forwards may be limited as to use in future years.  11     Recently Issued Accounting Pronouncements  The Company has evaluated recent accounting pronouncements and their adoption has not had or is not expected to have a material impact on the Companys financial position, or statements.  Item 3 - Quantitative and Qualitative Disclosures about Market Risk  We are a smaller reporting company as defined by § 229.10(f)(1) and are not required to provide the information under this item.  Item 4T - Controls and Procedures  Evaluation of Disclosure Controls and Procedures  We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed by us in the reports that we file or submit to the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the time periods specified by the Securities and Exchange Commissions rules and forms, and that information is accumulated and communicated to our management, including our principal executive and principal financial officer (whom we refer to in this periodic report as our Certifying Officer), as appropriate to allow timely decisions regarding required disclosure.  Our management evaluated, with the participation of our Certifying Officer, the effectiveness of our disclosure controls and procedures as of March 31, 2011, pursuant to Rule 13a-15(b) under the Securities Exchange Act. Based upon that evaluation, our Certifying Officer concluded that, as of March 31, 2011, our disclosure controls and procedures were effective.  Changes in Internal Controls  There have not been any changes in the Companys internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the quarter ended March 31, 2011 that have materially affected, or are reasonably likely to materially affect, the Companys internal control over financial reporting.  PART II - OTHER INFORMATION  Item 1 - Legal Proceedings  The Company is not aware of pending claims or assessments, other than as described above, which may have a material adverse impact on the Companys financial position or results of operations.   Item 1a - Risk Factors  We are a smaller reporting company as defined by § 229.10(f)(1) and are not required to provide the information under this item.   Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds  There were no issuances of unregistered equity securities during the period covered by this report.  12     Subsequent to the period covered by this report  On April 4, 2011, the Company issued 44,213 shares of its common stock upon the exercise of warrants by the Companys attorney.  No underwriters were used.  The securities were issued pursuant to an exemption from registration provided by Section 4(2) of the Securities Act of 1933.  The consultant receiving the common stock was intimately acquainted with the Companys business plan and proposed activities at the time of issuance, and possessed information on the Company necessary to make an informed investment decision.   Item 3 - Defaults upon Senior Securities  None.   Item 5 - Other Information  None.  Item 6  Exhibits  ExhibitNumberDescription of Exhibit31.01Certification of Principal Executive Officer Pursuant to Rule 13a-1431.02Certification of Principal Financial Officer Pursuant to Rule 13a-1432.01CEO and CFO Certification Pursuant to Section 906 of the Sarbanes-Oxley Act   All exhibits are numbered with the number preceding the decimal indicating the applicable SEC reference number in Item 601 and the number following the decimal indicating the sequence of the particular document.    13     SIGNATURES  Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.  Omnitek Engineering Corp.    Dated: May 11, 2011 /s/ Werner Funk By:  Werner Funk Its:  President and Secretary     Dated: May 11, 2011 /s/ Janice M. Quigley By: Janice M. Quigley Its:  Chief Financial Officer and Principal Accounting Officer   Pursuant to the requirement of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated:  Dated: May 11, 2011 /s/ Werner Funk By:  Werner Funk, Director   Dated: May 11, 2011 /s/ Janice M. Quigley Janice M. Quigley, Director   14