Omnitek Engineering Corp

Previous wording

For the three months ended March 31, 2026, total cost of goods sold was $74,984, for a gross margin of $80,613, compared with $218,778 and a gross margin of $140,968 for the three months ended March 31, 2025.

Current wording

Total cost of goods sold was $173,139 for the three months period ended June 30, 2026 compared with $383,656 for the three months period ended June 30, 2025, a decrease of $210,517. Gross margin as a percentage of sales was 43% for the three months period ended June 30, 2026, compared with 37% for the three months period ended June 30, 2025.

Previous wording

Operating expenses for the three months ended March 31, 2026, were $130,697 compared with $151,724 for the three months ended March 31, 2025, a decrease of $21,027. General and administrative expense for the three months ended March 31, 2026, was $112,947 compared with $132,451 for the three months ended March 31, 2025. Major components of general and administrative expenses for the three months ended March 31, 2026, were professional fees of $5,738, rent expense of $10,430 and salary and wages of $51,738. This compares with professional fees of $18,918, rent expense of $10,430, and salary and wages of $55,861 for the three months ended March 31, 2025. For the three months ended March 31, 2026, research and development outlays were $16,786 compared with $18,309 for the three months ended March 31, 2025.

Current wording

Operating expenses for the three months period ended June 30, 2026 were $173,694 compared with $167,855 for the three months period ended June 30, 2025, an increase of $5,839. General and administrative expense for the three months period ended June 30, 2026 was $153,849 compared with $149,895 for the three months period ended June 30, 2025. Major components of general and administrative expenses for the three months period ended June 30, 2026 were professional fees of $36,253, rent expense of $9,922, and salaries and wages of $60,913. This compares with professional fees of $37,998, rent expense of $10,430 and salaries and wages of $51,979 for the three months period ended June 30, 2025. For the three months period ended June 30, 2026 research and development outlays were $18,881 compared with $16,996 for the three months period ended June 30, 2025.

Previous wording

Our net loss for the three months ended March 31, 2026, was $68,584, or ($0.00) per share, compared with a net loss of $26,660, or ($0.00) per share, for the three months ended March 31, 2025.

Current wording

Our net loss for the three months period ended June 30, 2026 was $72,751, or $0.00 per share, compared with a net income of $125,853, or ($0.01) per share, for the three months period ended June 30, 2025.

Previous wording

Results for the three months ended March 31, 2026, 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, 2025, non-cash expenses included options and warrants granted in the amount of $345, and depreciation and amortization of $964.

Current wording

Results for the three months period ended June 30, 2026 reflect the impact of non-cash expenses, including the value of options granted in the amount of $349 and depreciation and amortization of $964. For the three month period ended June 30, 2025, non-cash expenses included options granted in the amount of $3,437, depreciation and amortization of $964.

Previous wording

At March 31, 2026, our current liabilities totaled $1,827,897 and our current assets totaled $849,769, resulting in negative working capital of $978,128.

Current wording

At June 30, 2026, our current liabilities totaled $1,829,723 and our current assets totaled $789,123, resulting in negative working capital of $1,040,600.

Previous wording

We have historically incurred significant losses, which have resulted in a total accumulated deficit of $21,822,429 at March 31, 2026.

Current wording

We have historically incurred significant losses, which have resulted in a total accumulated deficit of $21,895,180 at June 30, 2026.

Previous wording

Included in the operating loss of $68,584 for the three months ended March 31, 2026, 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 $112,947 and research and development expenses of $16,786.

Current wording

We realized a negative cash flow from operations of $2,905 for the six months period ended June 30, 2026 compared with a negative cash flow of $128,809 during the six months period ended June 30, 2025. Included in the operating loss of $(90,678) for the six months period ended June 30, 2026 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 $694 and depreciation and amortization of $1928. Additionally, the operating income included general and administrative expenses of $266,796 and research and development expenses of $35,667.

Previous wording

We realized $0 cash flow from financing activities for the three months ended March 31, 2026, compared to $0.00 cash flow for the three months ended March 31, 2025.

Current wording

We realized $34,000 positive cash flow from financing activities for the six months period ended June 30, 2026, compared with $0 cash flow for the six month period ended June 30, 2025.

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

Products - The Company recognizes revenue from the sale of products as performance obligations are satisfied. Those sales predominantly contain a single delivery element and revenue is recognized at a single point in time when ownership and risks transfer (i.e. the performance obligation has been satisfied). In general, ownership and risk passes FOB shipping point, or as negotiated.

Current wording

Products - The Company recognizes revenue from the sale of products as performance obligations are satisfied. Those sales predominantly contain a single delivery element and revenue is recognized at a single point in time when ownership risk transfer (i.e. the performance obligation has been satisfied). In general, ownership and risk passes FOB shipping point, or as negotiated.