OTC: OMTK
Omnitek Engineering CorpCIK 0001404804 · SIC 3714 · Motor Vehicle Parts & Accessories
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Latest financial statements
From 10-Q filed Aug 19, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Statements of Operations (Unaudited)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| REVENUES | 306,239 | 605,407 | 461,836 | 965,153 |
| COST OF GOODS SOLD | 173,139 | 383,656 | 248,123 | 602,434 |
| GROSS MARGIN | 133,100 | 221,751 | 213,713 | 362,719 |
| OPERATING EXPENSES | ||||
| General and administrative | 153,849 | 149,895 | 266,796 | 282,346 |
| Research and development | 18,881 | 16,996 | 35,667 | 35,305 |
| Depreciation and amortization | 964 | 964 | 1,928 | 1,928 |
| Total Operating Expenses | 173,694 | 167,855 | 304,391 | 319,579 |
| PROFIT/(LOSS) FROM OPERATIONS | (40,594) | 53,896 | (90,678) | 43,140 |
| OTHER INCOME (EXPENSE) | ||||
| Other income | 78,401 | 88,237 | 78,670 | 88,461 |
| Other Expense | (105,071) | (8,559) | (111,266) | (18,397) |
| Interest expense | (4,687) | (6,921) | (17,261) | (13,211) |
| Total Other Income/(Expense) | (31,357) | 72,757 | (49,857) | 56,853 |
| PROFIT/(LOSS) BEFORE INCOME TAXES | (71,951) | 126,653 | (140,535) | 99,993 |
| INCOME TAX EXPENSE | 800 | 800 | 800 | 800 |
| NET PROFIT/(LOSS) | (72,751) | 125,853 | (141,335) | 99,193 |
| BASIC AND DILUTED LOSS PER SHARE | 0.00 | 0.01 | (0.01) | (0.00) |
| WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING -BASIC AND DILUTED | 21,948,091 | 21,948,091 | 21,948,091 | 21,948,091 |
Condensed Balance Sheets
| Description | June 30, 2026 (Unaudited) | December 31, 2025 (Audited) |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS | ||
| Cash | 45,192 | 14,097 |
| Accounts receivable, net | 24,778 | 4,089 |
| Accounts receivable related parties | 16,698 | 20,393 |
| Inventories, net | 483,193 | 296,132 |
| Deposits | 219,262 | 329,250 |
| Total Current Assets | 789,123 | 663,961 |
| Property & Equipment, net | 2,887 | 4,816 |
| LONG-TERM ASSETS | ||
| Prepaid Expense | 1,500 | 0 |
| Operating lease right-of-use asset | 0 | 72,095 |
| Long-term deposit Activity | 11,721 | 0 |
| Long-term deposit Specialty | 13,514 | 13,514 |
| Total Long-Term Assets | 29,622 | 90,425 |
| TOTAL ASSETS | 818,745 | 754,386 |
| LIABILITIES AND STOCKHOLDERS' DEFICIT | ||
| CURRENT LIABILITIES | ||
| Accounts payable and accrued expenses | 272,416 | 269,086 |
| Accrued management compensation | 636,311 | 636,888 |
| Accounts payable related parties | 34,047 | 34,630 |
| Notes payable related parties | 232,940 | 198,940 |
| Convertible notes payable related party | 10,000 | 10,000 |
| Customer deposits | 644,009 | 388,301 |
| Operating lease liabilities current | 0 | 86,878 |
| Total Current Liabilities | 1,829,723 | 1,624,723 |
| LONG-TERM LIABILITIES | ||
| Loans payable SBA, net of current portion | 199,000 | 199,000 |
| Operating lease liabilities long-term | - | - |
| Total Long-term Liabilities | 199,000 | 199,000 |
| Total Liabilities | 2,028,722 | 1,823,723 |
| STOCKHOLDERS' DEFICIT | ||
| Common stock, 125,000,000 shares authorized; no par value; 21,948,091 and 21,948,091 shares, respectively issued and outstanding | 8,607,086 | 8,607,086 |
| Additional paid-in capital | 12,078,116 | 12,077,422 |
| Accumulated deficit | (21,895,180) | (21,753,845) |
| Total Stockholders' Deficit | (1,209,978) | (1,069,337) |
| TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | 818,745 | 754,386 |
Condensed Statements of Cash Flows (Unaudited)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net income (loss) | (141,335) | 99,193 |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Amortization and depreciation expense | 1,928 | 1,928 |
| Stock option expense | 694 | 3,782 |
| Amortization of ROU asset | 72,095 | 69,146 |
| Change in Inventory reserve | (50,136) | 18,068 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (20,689) | 7,421 |
| Accounts receivable–related parties | 3,695 | (10,001) |
| Other noncurrent assets | (11,721) | - |
| Deposits | 108,488 | 158,404 |
| Inventory | (136,924) | (76,313) |
| Accounts payable and accrued expenses | 3,330 | (70,900) |
| Customer deposits | 255,708 | (246,945) |
| Accrued management compensation | (577) | (577) |
| Operating lease liability | (86,878) | (82,698) |
| Accounts payable-related parties | (583) | 682 |
| Net cash provided by (used in) operating activities | (2,905) | (128,809) |
| INVESTING ACTIVITIES | ||
| Purchase of fixed assets | - | - |
| Net cash used in investing activities | - | - |
| FINANCING ACTIVITIES | ||
| Proceeds from (payments on) notes payable-related party | 34,000 | 57,000 |
| Net cash (used in) provided by financing activities | 34,000 | 57,000 |
| NET CHANGE IN CASH | 31,095 | (71,809) |
| CASH AT BEGINNING OF YEAR | 14,097 | 104,445 |
| CASH AT END OF PERIOD | 45,192 | 32,636 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOWS | ||
| CASH PAID FOR: | ||
| Interest | 17,261 | 15,312 |
| Income taxes | 800 | 800 |
Amounts as printed on the EDGAR/iXBRL face. Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗