Omnitek Engineering Corp
For the period ended Jun 30, 2024. Filed Aug 14, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 14, 2024
OMTKStored price and day change unavailable
Contents
Condensed Balance Sheets as of June 30, 2024 (unaudited) and December 31, 2023
Condensed Balance Sheets
| June 30, | December 31, | |
|---|---|---|
| 2023 | 2023 | |
| (Unaudited) | ||
| ASSETS | ||
| CURRENT ASSETS | ||
| Cash | $37,853 | $73,703 |
| Accounts receivable, net | 17,342 | 12,233 |
| Accounts receivable – related parties | 1,279 | 1,304 |
| Inventories, net | 271,858 | 370,838 |
| Deposits | 153,501 | 24,443 |
| Total Current Assets | 481,833 | 482,521 |
| LONG-TERM ASSETS | ||
| Property & Equipment, net | 10,602 | 5,667 |
| Operating lease – right-of-use asset | 279,787 | 345,459 |
| Long-term deposit | 13,514 | 13,514 |
| Total Long-Term Assets | 303,903 | 364,640 |
| TOTAL ASSETS | $785,736 | $847,161 |
| LIABILITIES AND STOCKHOLDERS' DEFICIT | ||
| CURRENT LIABILITIES | ||
| Accounts payable and accrued expenses | $323,120 | $323,236 |
| Accrued management compensation | 635,158 | 635,158 |
| Accounts payable - related parties | 132,359 | 131,285 |
| Notes payable - related parties | 37,940 | 37,940 |
| Convertible notes payable – related party | 10,000 | 10,000 |
| Customer deposits | 479,408 | 310,025 |
| Operating lease liabilities - current | 152,957 | 131,868 |
| Total Current Liabilities | 1,770,942 | 1,579,512 |
| LONG-TERM LIABILITIES | ||
| Loans payable – SBA, net of current portion | 199,000 | 199,000 |
| Operating lease liabilities – long-term | 171,641 | 254,339 |
| Total Long-term Liabilities | 370,641 | 453,339 |
| Total Liabilities | 2,141,583 | 2,032,851 |
| 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 | 12,072,228 | 12,067,571 |
| Accumulated deficit | (22,035,161) | (21,860,347) |
| Total Stockholders' Deficit | (1,355,847) | (1,185,690) |
| TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $785,736 | $847,161 |
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Condensed Statements of Operations
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