Omnitek Engineering Corp

For the period ended Dec 31, 2023. Filed Apr 16, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Apr 16, 2024

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Contents

Balance Sheets as of December 31, 2023 and

Balance Sheets

December 31, · December 31,
2023 · 2022
ASSETS
CURRENT ASSETS
	Cash		$73,703			$56,379
	Accounts receivable, net		12,233			10,180
	Accounts receivable - related parties		1,304			2,252
	Inventories, net		370,838			543,353
	Deposits		24,443			7,657
		Total Current Assets		482,521			619,821
PROPERTY & EQUIPMENT, net		5,667			7,412
OTHER ASSETS
	Operating lease – right-of-use asset		345,459			472,342
	Long-term deposit		13,514			13,514
		Total Long-Term Assets		364,640			493,268
		TOTAL ASSETS		$847,161			$1,113,089
LIABILITIES AND STOCKHOLDERS' DEFICIT
CURRENT LIABILITIES
	Accounts payable and accrued expenses		$323,236			$353,591
	Accrued management compensation		635,158			635,158
	Accounts payable - related parties		131,285			127,192
	Notes payable - related parties		37,940			15,000
	Convertible notes payable – related party		10,000			32,827
	Customer deposits		310,025			231,418
	Operating lease liabilities - current		131,868			118,756
		Total Current Liabilities		1,579,512			1,513,942
LONG-TERM LIABILITIES
	Loans payable – SBA		199,000			199,000
	Operating lease liabilities – long-term		254,339			386,207
		Total Long-term Liabilities		453,339			585,207
		Total Liabilities		2,032,851			2,099,149
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		12,067,571			12,051,795
	Accumulated deficit		(21,860,347)			(21,644,941)
		Total Stockholders' Deficit		(1,185,690)			(986,060)
		TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT		$847,161			$1,113,089
The accompanying notes are an integral part of these financial statements.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.