Omnitek Engineering Corp (OMTK) Form 10-Q — Aug 19, 2026
Omnitek Engineering's second-quarter 2026 revenue fell 49% year over year to $306,239 and the company swung to a net loss of $72,751 from a $125,853 profit a year earlier; first-half revenue dropped 52% to $461,836, which management attributed to shipment timing and disruption from relocating to a new facility. The 10-Q carries an explicit going-concern warning: with cash of just $45,192, negative working capital of $1,040,600, and a stockholders' deficit of $1,209,978 against a $21.9 million accumulated deficit, management stated the uncertainties cast substantial doubt on the company's ability to continue as a going concern.
Key figures
- Revenue
- 461836
- Revenue Yoy
- -52% for six months; -49% for Q2
- Total Assets
- 818745
- Cash Position
- 45192
- Shares Outstanding
- 21948091
- Sba eidl loan
- 199000
- Q2 2025 revenue
- 605407
- Q2 2026 revenue
- 306239
- Customer deposits
- 644009
- Sba loan maturity
- April 21, 2050
- Q2 2025 net income
- 125853
- Accumulated deficit
- 21895180
- Gross margin q2 2025
- 37%
- Gross margin q2 2026
- 43%
- New lease monthly rent
- 10111
- Sba loan interest rate
- 3.75%
- Negative working capital
- 1040600
- New lease total payments
- 682752
- Gross margin six months 2026
- 46%
- Convertible note related party
- 10000
- Notes payable related party ceo
- 232940
- Related party note interest rate
- 8%
- Accrued compensation due president
- 636311
AI analysis
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