OMNIQ Corp. Files 10-Q for Period Ending March 31, 2024
Ticker: OMQS · Form: 10-Q · Filed: May 15, 2024 · CIK: 278165
Sentiment: neutral
Topics: OMNIQ Corp., 10-Q, Quarterly Report, Financials, SEC Filing
TL;DR
<b>OMNIQ Corp. has submitted its quarterly report (10-Q) for the period ending March 31, 2024, detailing financial data and corporate history.</b>
AI Summary
OMNIQ Corp. (OMQS) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. OMNIQ Corp. filed its 10-Q report for the quarterly period ended March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. The company's previous name was Quest Solution, Inc., with a name change date of August 13, 2014. OMNIQ Corp. is incorporated in Delaware and its fiscal year ends on December 31. The filing includes data related to Series A, B, and C Preferred Stock, Common Stock, Additional Paid-In Capital, Retained Earnings, and Accumulated Other Comprehensive Income for various periods.
Why It Matters
For investors and stakeholders tracking OMNIQ Corp., this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and position of OMNIQ Corp. for the first quarter of 2024. Understanding the historical company names and incorporation details is crucial for tracing the corporate lineage and potential liabilities or assets.
Risk Assessment
Risk Level: low — OMNIQ Corp. shows low risk based on this filing. The filing is a standard 10-Q report, which typically contains routine financial disclosures and does not indicate any unusual or significant events requiring immediate attention.
Analyst Insight
Review the detailed financial statements within the 10-Q to assess OMNIQ Corp.'s performance and financial health for Q1 2024.
Key Numbers
- 2024-03-31 — Period of Report End Date (Quarterly period ended)
- 2024-05-15 — Filing Date (Date the report was filed)
- 1231 — Fiscal Year End (Company's fiscal year end)
- 0000278165 — Central Index Key (Company's SEC identifier)
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
- DE (jurisdiction) — State of incorporation
- 1231 (date) — Fiscal year end
- 2024-03-31 (date) — Period of report
- 2024-05-15 (date) — Filing date
FAQ
When did OMNIQ Corp. file this 10-Q?
OMNIQ Corp. filed this Quarterly Report (10-Q) with the SEC on May 15, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by OMNIQ Corp. (OMQS).
Where can I read the original 10-Q filing from OMNIQ Corp.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by OMNIQ Corp..
What are the key takeaways from OMNIQ Corp.'s 10-Q?
OMNIQ Corp. filed this 10-Q on May 15, 2024. Key takeaways: OMNIQ Corp. filed its 10-Q report for the quarterly period ended March 31, 2024.. The filing covers the period from January 1, 2024, to March 31, 2024.. The company's previous name was Quest Solution, Inc., with a name change date of August 13, 2014..
Is OMNIQ Corp. a risky investment based on this filing?
Based on this 10-Q, OMNIQ Corp. presents a relatively low-risk profile. The filing is a standard 10-Q report, which typically contains routine financial disclosures and does not indicate any unusual or significant events requiring immediate attention.
What should investors do after reading OMNIQ Corp.'s 10-Q?
Review the detailed financial statements within the 10-Q to assess OMNIQ Corp.'s performance and financial health for Q1 2024. The overall sentiment from this filing is neutral.
Key Dates
- 2024-03-31: Quarterly Period End — End date for the financial reporting period covered by the 10-Q.
- 2024-05-15: Filing Date — Date the 10-Q report was officially submitted to the SEC.
Glossary
- 10-Q
- A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides investors with a comprehensive overview of a company's financial performance during a specific quarter.)
Filing Stats: 4,707 words · 19 min read · ~16 pages · Grade level 13.9 · Accepted 2024-05-15 16:16:03
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value OMQS The Nasdaq Stock Mar
- $1.00 — quidation value and conversion price of $1.00 per share ($20.00 per 20 shares of pref
- $20.00 — nd conversion price of $1.00 per share ($20.00 per 20 shares of preferred stock which
- $30 — y's common stock has a closing price of $30 per share for 20 consecutive trading da
Filing Documents
- form10-q.htm (10-Q) — 514KB
- ex31-1.htm (EX-31.1) — 18KB
- ex31-2.htm (EX-31.2) — 18KB
- ex32-1.htm (EX-32.1) — 7KB
- 0001493152-24-019872.txt ( ) — 3092KB
- omqs-20240331.xsd (EX-101.SCH) — 26KB
- omqs-20240331_cal.xml (EX-101.CAL) — 49KB
- omqs-20240331_def.xml (EX-101.DEF) — 112KB
- omqs-20240331_lab.xml (EX-101.LAB) — 238KB
- omqs-20240331_pre.xml (EX-101.PRE) — 185KB
- form10-q_htm.xml (XML) — 282KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION F-1
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS F-1 CONDENSED CONSOLIDATED BALANCE SHEETS AT MARCH 31, 2024 AND DECEMBER 31, 2023 F-1 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE MONTHS ENDED MARCH 31, 2024, AND 2023 F-2 CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) FOR THE THREE MONTHS ENDED MARCH 31, 2024 AND 2023 F-3 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2024, AND 2023 F-4 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS F-5
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 3
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 6
CONTROLS AND PROCEDURES
ITEM 4. CONTROLS AND PROCEDURES 6
- OTHER INFORMATION
PART II - OTHER INFORMATION 7
LEGAL PROCEEDINGS
ITEM 1. LEGAL PROCEEDINGS. 7
RISK FACTORS
ITEM 1A. RISK FACTORS. 7
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS. 7
DEFAULTS UPON SENIOR SECURITIES
ITEM 3. DEFAULTS UPON SENIOR SECURITIES. 7
MINE SAFETY DISCLOSURES
ITEM 4. MINE SAFETY DISCLOSURES. 7
OTHER INFORMATION
ITEM 5. OTHER INFORMATION. 7
EXHIBITS
ITEM 6. EXHIBITS. 8
SIGNATURES
SIGNATURES 9 2 PART I - FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS OMNIQ CORP. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share data) March 31, 2024 December 31, 2023 As of (In thousands, except share and per share data) March 31, 2024 December 31, 2023 ( UNAUDITED ) ASSETS Current assets Cash and cash equivalents $ 881 $ 1,678 Accounts receivable, net 18,429 18,654 Inventory 5,676 6,028 Prepaid expenses 806 969 Other current assets 319 25 Total current assets 26,111 27,354 Property and equipment, net of accumulated depreciation of $ 1,782 and $ 1,030 respectively 981 1,066 Goodwill 2,891 1,788 Trade name, net of accumulated amortization of $ 4,888 and $ 4,564 , respectively 1,312 1,377 Customer relationships, net of accumulated amortization of $ 11,950 and $ 11,001 , respectively 3,575 3,777 Other intangibles, net of accumulated amortization of $ 1,675 and $ 2,216 , respectively 478 504 Right of use lease asset 1,548 1,862 Other assets 1,965 1,758 Total Assets $ 38,861 $ 39,486 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable and accrued liabilities $ 57,145 $ 56,741 Line of credit 391 240 Accrued payroll and sales tax 2,311 1,537 Notes payable – current portion 9,451 10,196 Lease liability – current portion 758 885 Other current liabilities 2,430 3,106 Total current liabilities 72,486 72,705 Long term liabilities Accrued interest and accrued liabilities, related party 73 73 Notes payable, less current portion 1,392 265 Lease liability, less current portion 820 1,011 Other long-term liabilities 619 452 Total liabilities 75,390 74,506 Stockholders' equity (deficit) Series A Preferred stock; $ 0.001 par value; 2,000,000 shares designated, 0 shares issued and outstanding - - Series B Preferred stock; $ 0.001 par value; 1 share designated, 0 shares issued and outs