OMNIQ Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>OMNIQ Corp. has filed its 2023 10-K report, detailing financial performance and historical company information.</b>

AI Summary

OMNIQ Corp. (OMQS) filed a Annual Report (10-K) with the SEC on April 1, 2024. OMNIQ Corp. filed its annual report for the fiscal year ending December 31, 2023. The company was formerly known as Quest Solution, Inc., AMERIGO ENERGY, INC., and STRATEGIC GAMING INVESTMENTS, INC. The filing includes financial data for the fiscal years 2021, 2022, and 2023. Key financial statement components such as Common Stock, Additional Paid-In Capital, and Retained Earnings are detailed for these years. The report specifies the company's business address as 1865 WEST 2100 SOUTH, SALT LAKE CITY, UT 84119.

Why It Matters

For investors and stakeholders tracking OMNIQ Corp., this filing contains several important signals. This 10-K filing provides a comprehensive overview of OMNIQ Corp.'s financial health and operational status for the fiscal year 2023, crucial for investors assessing the company's performance and future prospects. The detailed financial data, including historical figures from 2021 and 2022, allows for trend analysis and comparison, aiding stakeholders in making informed investment decisions.

Risk Assessment

Risk Level: low — OMNIQ Corp. shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate, significant new risks or disclosures beyond routine financial reporting.

Analyst Insight

Review the detailed financial statements and footnotes within the 10-K to understand OMNIQ Corp.'s revenue, expenses, and balance sheet changes for fiscal year 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period of report)
• 2024-04-01 — Filing Date (As of date)
• 2023 — Fiscal Year (Reporting period)
• 2022 — Fiscal Year (Comparative period)
• 2021 — Fiscal Year (Comparative period)

Key Players & Entities

• OMNIQ Corp. (company) — Filer name
• Quest Solution, Inc. (company) — Former company name
• AMERIGO ENERGY, INC. (company) — Former company name
• STRATEGIC GAMING INVESTMENTS, INC. (company) — Former company name
• SALT LAKE CITY (location) — Business address city
• UT (location) — Business address state

FAQ

Industry Context

OMNIQ Corp. operates in the computer integrated systems design industry.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the consolidated financial statements for the fiscal years ended December 31, 2023, 2022, and 2021.
2. Review the Management's Discussion and Analysis of Financial Condition and Results of Operations section for insights into performance drivers.
3. Examine any disclosed risk factors or legal proceedings that may impact the company.

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year 2023, following previous filings which would include quarterly reports (10-Q) and potentially prior annual reports.

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value OMQS The Nasdaq Stock Mar
• $80 million — idated revenues have grown to more than $80 million with clients in more than 40 countries.
• $1.00 — iled to maintain a minimum bid price of $1.00 over the previous 32 consecutive busine
• $1 — g bid price of our security is at least $1 for a minimum of ten consecutive busine
• $35,000,000 — of listed securities below the minimum $35,000,000 required for continued listing for the
• $20,000 — anel on February 14, 2024, and paid the $20,000 fee for a hearing in accordance with Na

Filing Documents

• form10-k.htm (10-K) — 1849KB
• ex4-2.htm (EX-4.2) — 5KB
• ex21-1.htm (EX-21.1) — 11KB
• ex23-1.htm (EX-23.1) — 4KB
• ex31-1.htm (EX-31.1) — 12KB
• ex31-2.htm (EX-31.2) — 12KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 7KB
• 0001493152-24-012457.txt (&nbsp;) — 8888KB
• omqs-20231231.xsd (EX-101.SCH) — 65KB
• omqs-20231231_cal.xml (EX-101.CAL) — 94KB
• omqs-20231231_def.xml (EX-101.DEF) — 276KB
• omqs-20231231_lab.xml (EX-101.LAB) — 525KB
• omqs-20231231_pre.xml (EX-101.PRE) — 412KB
• form10-k_htm.xml (XML) — 1523KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31 , 2023 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-40768 OMNIQ CORP. (Exact name of Registrant as specified in its charter) Delaware 20-3454263 (State or other jurisdiction of (IRS Employer incorporation or organization) Identification No.) 1865 West 2100 South , Salt Lake City , UT 84119 (Address of principal executive offices) (zip code) (800) 242-7272 (Issuer's telephone number, including area code) Securities registered under Section 12(b) of the Exchange Act: None. Title of class Trading symbol Name of each exchange on which registered Common Stock, $0.001 par value OMQS The Nasdaq Stock Market LLC Securities registered under Section 12(g) of the Exchange Act: None. Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes No Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T ( 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act. Large accelerated filer Accelerated reporting company Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's executive officers during the relevant recovery period pursuant to 240.10D-1(b). Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes No The aggregate market value of the voting and non-voting common equity held by non-affiliates, computed by reference to the price at which the common equity was last sold or the average bid and asked price of such common equity, as of the last business day of the registrant's most recently completed second fiscal quarter, June 30, 2023, was $ 26,698,048 . Indicate the number of shares outstanding of each of the registrant's classes of common stock, as of the latest practicable date: 10,690,211 shares of common stock were outstanding as of March 14, 2024. TABLE OF CONTENTS PART I ITEM 1. BUSINESS 4 ITEM 1A. RISK FACTORS 9 ITEM 1B. UNRESOLVED STAFF COMMENTS 9 ITEM 1C. CYBERSECURITY 9 ITEM 2. PROPERTIES 9 ITEM 3. LEGAL PROCEEDINGS 9 ITEM 4. MINE SAFETY DISCLOSURES 9 PART II ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 10 ITEM 6. [RESERVED] 11 ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 12 ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 16 ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENETARY DATA 16 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 17 ITEM 9A. CONTROLS AND PROCEDURES 17 ITEM 9B. OTHER INFORMATION 18 PART III ITEM 10. DIRECTORS, E

View Full Filing

View this 10-K filing on SEC EDGAR