Omnitek Engineering Corp

Previous wording

Operating expenses for the three months ended March 31, 2025, were $151,724 compared with $144,952 for the three months ended March 31, 2024, an increase of $6,772. General and administrative expense for the three months ended March 31, 2025, was $132,451 compared with $126,045 for the three months ended March 31, 2024. Major components of general and administrative expenses for the three months ended March 31, 2025, were professional fees of $18,918, rent expense of $10,430 and salary and wages of $55,861. This compares with professional fees of $13,975, rent expense of $10,825, and salary and wages of $57,030 for the three months ended March 31, 2024. For the three months ended March 31, 2025, research and development outlays were $18,309, compared with $18,471 for the three months ended March 31, 2024.

Current wording

Operating expenses for the three months period ended June 30, 2025 were $167,855 compared with $175,546 for the three months period ended June 30, 2024, a decrease of $7,691. General and administrative expense for the three months period ended June 30, 2025 was $149,895 compared with $156,953 for the three months period ended June 30, 2024. Major components of general and administrative expenses for the three months period ended June 30, 2025 were professional fees of $37,998, rent expense of $10,430, and salaries and wages of $51,979. This compares with professional fees of $39,922, rent expense of $10,825 and salaries and wages of $57,103 for the three months period ended June 30, 2024. For the three months period ended June 30, 2025 research and development outlays were $16,996 compared with $17,629 for the three months period ended June 30, 2024.

Previous wording

Our net loss for the three months ended March 31, 2025, was $26,660, or ($0.00) per share, compared with a net loss of $66,458, or ($0.00) per share, for the three months ended March 31, 2024. The decreased net loss was primarily due to an uptick in filter sales.

Current wording

Our net income for the three months period ended June 30, 2025 was $125,853, or $0.01 per share, compared with a net loss of $108,356, or ($0.00) per share, for the three months period ended June 30, 2024.

Previous wording

Results for the three months ended March 31, 2025, reflect the impact of non-cash expenses, including the value of options and warrants granted in the amount of $345, and depreciation and amortization of $964. For the three months period ended March 31, 2024, non-cash expenses included options and warrants granted in the amount of $1,963, and depreciation and amortization of $436.

Current wording

Results for the three months period ended June 30, 2025 reflect the impact of non-cash expenses, including the value of options granted in the amount of $3,437 and depreciation and amortization of $964. For the three month period ended June 30, 2024, non-cash expenses included options granted in the amount of $2,694, depreciation and amortization of $964.

Previous wording

At March 31, 2025, our current liabilities totaled $2,185,534 and our current assets totaled $855,053, resulting in negative working capital of $1,330,481.

Current wording

At June 30, 2025, our current liabilities totaled $1,921,481and our current assets totaled $712,376, resulting in negative working capital of $1,209,105.

Previous wording

We have historically incurred significant losses, which have resulted in a total accumulated deficit of $22,054,144 at March 31, 2025.

Current wording

We have historically incurred significant losses, which have resulted in a total accumulated deficit of $21,928,291 at June 30, 2025.

Previous wording

Included in the operating loss of $26,660 for the three months ended March 31, 2025, are non-cash expenses, which are not a drain on our capital resources. During the period, these non-cash expenses include the value of options and warrants granted in the amount of $345 and depreciation and amortization of $964. Additionally, the operating loss included general and administrative expenses of $132,451 and research and development expenses of $18,309.

Current wording

We realized a negative cash flow from operations of $128,809 for the six months period ended June 30, 2025 compared with a negative cash flow of $29,514 during the six months period ended June 30, 2024. Included in the operating income of $99,193 for the six months period ended June 30, 2025 are non-cash expenses, which are not a drain on our capital resources. During the period, these non-cash expenses include the value of options granted in the amount of $3,782 and depreciation and amortization of $1,928. Additionally, the operating income included general and administrative expenses of $282,346 and research and development expenses of $35,305.

Previous wording

We realized $50,500 cash flow from financing activities for the three months ended March 31, 2025, compared to $0.00 cash flow for the three months ended March 31, 2024.

Current wording

We realized $57,000 positive cash flow from financing activities for the six months period ended June 30, 2025, compared with $0.00 cash flow for the six month period ended June 30, 2024.

Previous wording

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. Trade receivables are written off when deemed uncollectible. Recoveries of trade receivables previously written off are recorded when received.

Current wording

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. Trade receivables are written off when deemed uncollectible. Recoveries of trade receivables previously written off are

Previous wording

Inventories are stated at the lower of Net realizable value or average cost basis, cost determined on an average cost basis. Market value for raw materials is based on replacement costs. The Company reviews inventories on hand at least annually and records provisions for estimated excess, slow moving and obsolete inventory, as well as inventory with a carrying value in excess of net realizable value. The regular and systematic inventory valuation reviews include a current assessment of future product demand, historical experience and product expiration. Accordingly, the Company has established an allowance for the cost of such obsolete inventory.

Current wording

Inventories are stated at the lower of Net realizable value or average cost basis. Market value for raw materials is based on replacement costs. The Company reviews inventories on hand at least annually and records provisions for estimated excess, slow moving and obsolete inventory, as well as inventory with a carrying value in excess of net realizable value. The regular and systematic inventory valuation reviews include a current assessment of future product demand, historical experience and product expiration. Accordingly, the Company has established an allowance for the cost of such obsolete inventory.