Consolidated SEC Viewer Rendering

Document and Entity Information

v3.24.3
Document and Entity Information - USD ($)
 12 Months Ended
Dec. 31, 2024
Apr. 15, 2025
Jun. 30, 2024
Details      
Registrant CIK 0001404804    
Fiscal Year End --12-31    
Document Financial Statement Error Correction false    
Amendment Description This Amendment No. 1 on Form 10-K/A (the 'Amendment') of Omnitek Engineering Corp. (the 'Company') amends the Company's Annual Report on Form 10-K for the year ending December 31, 2024, originally filed with the Securities and Exchange Commission on April 15, 2025 (the 'Original Report'). This Amendment is being filed solely for the purpose of making corrections to the Date and Signature of Auditors Report. Except as described above, no changes have been made to the Original Filing and this Amendment does not modify, amend or update in any way any of the financial or other information contained in the Original Filing. This Amendment does not reflect events that may have occurred subsequent to the Original Filing Date.    
Document Type 10-K/A    
Document Annual Report true    
Document Period End Date Dec. 31, 2024    
Securities Act File Number 000-53955    
Entity Registrant Name OMNITEK ENGINEERING CORP.    
Entity Incorporation, State or Country Code CA    
Entity Tax Identification Number 33-0984450    
Entity Address, Address Line One 1345 Specialty Dr. #E    
Entity Address, City or Town Vista    
Entity Address, State or Province CA    
Entity Address, Postal Zip Code 92081    
City Area Code 760    
Local Phone Number 591-0089    
Entity Well-known Seasoned Issuer No    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business true    
Entity Emerging Growth Company false    
Entity Shell Company false    
Entity Public Float     $ 265,472
Entity Common Stock, Shares Outstanding   21,948,091  
Amendment Flag true    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus FY    
Document Transition Report false    
Auditor Firm ID 3223    
Auditor Name Mercurius & Associates LLP    
Auditor Location New Delhi    

Balance Sheets

v3.24.3
Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
CURRENT ASSETS    
Cash $ 104,445 $ 73,703
Accounts receivable, net 11,075 12,233
Accounts receivable - related parties 3,088 1,304
Inventory Net 267,616 370,838
Deposits 495,540 24,443
Total Current Assets 881,764 482,521
PROPERTY & EQUIPMENT, net 8,673 5,667
OTHER ASSETS    
Operating lease - right-of-use asset 212,504 345,459
Long-term deposit 13,514 13,514
Total Long-Term Assets 234,691 364,640
TOTAL ASSETS 1,116,455 847,161
CURRENT LIABILITIES    
Accounts payable and accrued expenses 334,223 323,236
Accrued management compensation 636,311 635,158
Accounts payable - related parties 139,834 131,285
Notes payable - related parties 44,940 37,940
Convertible notes payable - related party 10,000 10,000
Customer deposits 845,272 310,025
Operating lease liabilities - current 167,461 131,868
Total Current Liabilities 2,178,041 1,579,512
LONG-TERM LIABILITIES    
Loans payable - SBA 199,000 199,000
Operating lease liabilities - long-term 86,878 254,339
Total Long-term Liabilities 285,878 453,339
Total Liabilities 2,463,919 2,032,851
STOCKHOLDERS' DEFICIT    
Common stock, 125,000,000 shares authorized; no par value; 21,948,091 and 21,948,091 shares, respectively issued and outstanding 8,607,086 8,607,086
Additional paid-in capital 12,072,934 12,067,571
Accumulated deficit (22,027,484) (21,860,347)
Total Stockholders' Deficit (1,347,464) (1,185,690)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 1,116,455 $ 847,161

Balance Sheets - Parenthetical

v3.24.3
Balance Sheets - Parenthetical - $ / shares
Dec. 31, 2024
Dec. 31, 2023
Balance Sheets    
Common Stock, Shares Authorized 125,000,000 125,000,000
Common Stock, Par or Stated Value Per Share $ 0 $ 0
Common Stock, Shares, Issued 21,948,091 21,948,091
Common Stock, Shares, Outstanding 21,948,091 21,948,091

Statements of Operations

v3.24.3
Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Statements of Operations    
Revenues $ 1,019,726 $ 1,055,314
COST OF GOODS SOLD 561,853 644,660
GROSS MARGIN 457,873 410,654
OPERATING EXPENSES    
General and administrative 532,721 537,473
Research and development 70,323 67,576
Depreciation and amortization 3,329 1,745
Total Operating Expenses 606,373 606,794
LOSS FROM OPERATIONS (148,500) (196,140)
OTHER INCOME (EXPENSE)    
Allowance for obsolete inventory (85,171) 4,877
Other Income 87,891 0
Interest expense (20,557) (23,343)
Total Other Income (Expense) (17,837) (18,466)
LOSS BEFORE INCOME TAXES (166,337) (214,606)
INCOME TAX EXPENSE 800 800
NET LOSS $ (167,137) $ (215,406)
BASIC AND DILUTED LOSS PER SHARE $ (0.01) $ (0.01)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC AND DILUTED 21,948,091 21,948,091
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC AND DILUTED 21,948,091 21,948,091

Statements of Stockholders' Deficit

v3.24.3
Statements of Stockholders' Deficit - USD ($)
Common Stock
Additional Paid-in Capital
Retained Earnings
Total
Shares, Outstanding, Beginning Balance at Dec. 31, 2022 21,948,091      
Net income (loss) $ 0 $ 0 $ (215,406) $ (215,406)
Shares, Outstanding, Ending Balance at Dec. 31, 2023 21,948,091      
Equity, Attributable to Parent, Beginning Balance at Dec. 31, 2022 $ 8,607,086 12,051,795 (21,644,941) (986,060)
Options and warrants issued for services 0 15,776 0 15,776
Equity, Attributable to Parent, Ending Balance at Dec. 31, 2023 8,607,086 12,067,571 (21,860,347) (1,185,690)
Net income (loss) $ 0 0 (167,137) (167,137)
Shares, Outstanding, Ending Balance at Dec. 31, 2024 21,948,091      
Options and warrants issued for services $ 0 5,363 0 5,363
Equity, Attributable to Parent, Ending Balance at Dec. 31, 2024 $ 8,607,086 $ 12,072,934 $ (22,027,484) $ (1,347,464)

Statements of Cash Flows

v3.24.3
Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
OPERATING ACTIVITIES    
Net income (loss) $ (167,137) $ (215,406)
Adjustments to reconcile net loss to net cash used in operating activities    
Amortization and depreciation expense 3,329 1,745
Options and warrants issued for services 5,363 15,776
Write-off of contract asset 0 0
Amortization of ROU asset 132,955 126,883
Inventory reserve 85,171 (4,877)
Changes in operating assets and liabilities    
Accounts receivable 1,158 (2,053)
Operating lease liability (131,868) (118,756)
Accounts receivable-related parties (1,784) 948
Deposits (471,097) (16,786)
Inventory 18,051 177,392
Accounts payable and accrued expenses 10,987 (30,355)
Customer deposits 535,247 78,607
Accounts payable-related parties 8,549 4,093
Accrued management compensation 1,153 0
Net Cash Provided by (Used in) Operating Activities 30,077 17,211
INVESTING ACTIVITIES    
Purchase of fixed assets (6,335) 0
Net Cash Used in Investing Activities (6,335) 0
FINANCING ACTIVITIES    
Proceeds from related party payable 7,000 113
Net Cash Provided by Financing Activities 7,000 113
NET CHANGE IN CASH 30,742 17,324
CASH AT BEGINNING OF YEAR 73,703 56,379
CASH AT END OF YEAR 104,445 73,703
SUPPLEMENTAL DISCLOSURES OF CASH FLOWS    
Interest 21,587 27,537
Income taxes $ 800 $ 800

NOTE 1 - ORGANIZATION AND BUSINESS ACTIVITY

v3.24.3
NOTE 1 - ORGANIZATION AND BUSINESS ACTIVITY
 12 Months Ended
Dec. 31, 2024
Notes  
NOTE 1 - ORGANIZATION AND BUSINESS ACTIVITY

NOTE 1 – ORGANIZATION AND BUSINESS ACTIVITY

 

Omnitek Engineering, Corp. (“Omnitek” or “the Company”) was incorporated on October 9, 2001 under the laws of the State of California. Omnitek develops and sells proprietary technology to convert diesel engines to an alternative fuel, new alternative fuel engines, and complementary products. Omnitek products are available for stationary applications and the global transportation markets – including light commercial vehicles, buses, heavy-duty trucks, as well as rail and marine applications. The technology can be applied for compressed natural gas (“CNG”), liquefied natural gas (“LNG”), renewable natural gas (“Biogas” or “RNG”), or Hydrogen (“H2”), as well as liquid petroleum gas (“Propane” or LPG”). Omnitek began operations on October 10, 2001, and was a spin-off from Nology Engineering, Inc.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

v3.24.3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 12 Months Ended
Dec. 31, 2024
Notes  
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

a.       Accounting Methods

 

The Company's financial statements are prepared using the accrual method of accounting. The Company has elected a December 31, year-end.

 

b.       Use of Estimates in Preparing Financial Statements

 

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates. The Company also regularly evaluates estimates and assumptions related to deferred income tax asset valuation allowances, inventory valuation allowances, allowance for doubtful receivables and valuations of equity-based payments.

 

c.       Cash and Cash Equivalents

 

For purposes of the statements of cash flows, the Company considers all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents.

 

d.       Accounts Receivable

 

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. Allowance for doubtful accounts for the years ended December 31, 2024, and 2023, was $0 and $0, respectively. Additionally, bad debt expense for the years ended December 31, 2024, and 2023, was $0 and $0, respectively.

 

e.       Inventories

 

Inventories are stated at the lower of net realizable value, or average cost basis. 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.

 

f.       Long-Lived Assets

 

The Company assesses the recoverability of its long-lived assets annually and whenever circumstances indicate that there may be an impairment. The Company compares the estimated undiscounted future cash flows to the carrying

 

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

 

value of the long-lived assets to determine if impairment has occurred. In the event that impairment has occurred, the Company recognize the impairment immediately. No impairment expense was recognized as of December 31, 2024, or 2023.

 

g.       Property and Equipment

 

Property and equipment are recorded at cost. Depreciation and amortization are calculated on the straight-line method over the shorter of the lease term or the estimated useful lives of the assets ranging from three- to- five years.

 

h.        Revenue Recognition

 

In general, revenue is recognized when control of the promised goods is transferred to our customers, in an amount that reflects the consideration to which we expect to be entitled in exchange for the goods or services. In order to achieve that core principle, a five-step approach is applied: (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue allocated to each performance obligation when we satisfy the performance obligation. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account for revenue recognition.

 

Performance Obligations

 

A performance obligation is a promise in a contract to transfer a distinct good or service to a customer and is the unit of account in the new revenue standard. The contract transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The majority of Omnitek’s contracts have a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts and, therefore, not distinct.

 

Performance Obligations Satisfied at a Point in Time

 

Revenue from product sales is recognized at a point in time. These sales predominantly contain a single delivery element and revenue is recognized at a single point in time when ownership, risk and rewards transfer Upon fulfilment of the performance obligation, the customer is provided an invoice demonstrating transfer of control to the customer. Revenue from goods and services transferred to customers at a point in time accounted for 100% and 100% of revenue for the years ended December 31, 2024, and 2023, respectively.

 

We recognize revenue on various products and services as follows:

 

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.

 

Assurance-type warranties are the only warranties provided by the Company and, as such, Omnitek does not recognize revenue on warranty-related work. Omnitek generally provides a one-year warranty for products that it sells. Warranty claims historically have been insignificant.

 

 

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

 

Disaggregation of Revenue

 

The following table presents Omnitek’s revenues disaggregated by region and product type:

 

 

 

 

December 31,

 

 

December 31,

 

 

 

 

2024

 

 

 

 

2023

 

 

 

 

Consumer

Long-term

 

 

 

Consumer

Long-term

 

Segments

 

 

Products

Contract

Total

 

 

Products

Contract

Total

Domestic

 

$

359,343

-

359,343

 

$

342,146

-

342,146

International

 

 

660,383

 

660,383

 

 

713,168

 

713,168

 

 

$

1,019,726

 

1,019,726

 

$

1,055,314

 

1,055,314

 

 

 

 

 

 

 

 

 

 

 

Filters

 

 

491,939

-

491,939

 

 

528,917

-

528,917

Components

 

 

527,787

-

527,787

 

 

526,397

-

526,397

Engineering Services

 

 

-

 

-

 

 

-

 

-

 

 

$

1,019,726

 

1,019,726

 

$

1,055,314

 

1,055,314

 

i.       Cost of Goods Sold

 

The Company includes product costs (i.e., material, direct labor and overhead costs), shipping and handling expense, production-related depreciation expense and product license agreement expense in cost of goods sold.

 

j.       Research and Development

 

The Company expenses the costs for research and development during the period incurred. During the years ended December 31, 2024, and 2023, the Company incurred research and development expenses of $70,323 and $67,576, respectively.

 

k.       Advertising

 

The Company follows the policy of charging the costs of advertising to expense as incurred. During the years ended December 31, 2024, and 2023, the Company expensed $-0- and $-0-, respectively.

 

l.       Provision for Income Taxes

 

The Company accounts for income taxes in accordance with Accounting Standards Codification Topic 740, Income Taxes ("Topic 740"), which requires the recognition of deferred tax liabilities and assets at currently enacted tax rates for the expected future tax consequences of events that have been included in the financial statements or tax returns. A valuation allowance is recognized to reduce the net deferred tax asset to an amount that is more likely than not to be realized. Topic 740 provides guidance on the accounting for uncertainty in income taxes recognized in a company's financial statements. Topic 740 requires a company to determine whether it is more likely than not that a tax position will be sustained upon examination based upon the technical merits of the position. If the more likely-than-not threshold is met, a company must measure the tax position to determine the amount to recognize in the financial statements.

 

The Company includes interest and penalties arising from the underpayment of income taxes in the statements of operations in the provision for income taxes. As of December 31, 2024, the Company had no accrued interest or penalties related to uncertain tax positions. The Company files an income tax return in the U.S. federal jurisdiction and the state of California. With few exceptions, the Company is no longer subject to U.S. federal, state, and local, or non-U.S. income tax examinations by tax authorities for years before 2012.

 

 

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

 

m.       Basic and Diluted Loss Per Share

 

The computation of basic earnings per share of common stock is based on the weighted average number of shares outstanding during the periods presented. The computation of fully diluted earnings per share includes common stock equivalents outstanding at the balance sheet date. The Company had 2,106,667 and 2,720,556 stock options and warrants that would have been included in the fully diluted earnings per share computation as of December 31, 2024 and 2023, respectively. However, in 2024, the common stock equivalents were not included in the loss per share computation because they are anti-dilutive.

 

n.       Fair Value Measurements

 

The fair value of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets are marked to bid prices and financial liabilities are marked to offer prices. Fair value measurements do not include transaction costs. A fair value hierarchy is used to prioritize the quality and reliability of the information used to determine fair values. Categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is defined into the following three categories:

 

Level 1 – Quoted prices in active markets for identical assets or liabilities;

 

Level 2 – Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; and

 

Level 3 – Unobservable inputs that are supported by little or no market activity, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing.

 

o.       Stock-based Compensation

 

The Company recognizes compensation expense for stock-based awards expected to vest on a straight-line basis over the requisite service period of the award based on their grant date fair value.  The Company estimates the fair value of stock options using a Black-Scholes option pricing model which requires management to make estimates for certain assumptions regarding risk-free interest rate, expected life of options, expected volatility of stock and expected dividend yield of stock.

 

p.       Concentration of Risks

 

Customers

 

During the year ended December 31, 2024, four customers accounted for approximately 72% of sales.

 

During the year ended December 31, 2023, eight customers accounted for approximately 91% of sales.

 

Suppliers

 

During the year ended December 31, 2024, two suppliers accounted for 83% of products purchased.

 

During the year ended December 31, 2023, four suppliers accounted for 78% of products purchased.

 

q.       Liquidity and Going Concern

 

Historically, the Company has incurred net losses and positive cash flows from operations. As of December 31, 2024, the Company had an accumulated deficit of $22,027,484 and total stockholders’ deficit of $1,347,464. At December 31, 2024, the Company had current assets of $881,764 including cash of $104,445, and current liabilities of $2,178,041, resulting in negative working capital of $1,296,277. For 2024, the Company reported a net loss of $167,137 and net cash provided by operating activities of $30,077. Management believes that based on its operating

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

 

plan, the projected sales for 2025, combined with funds available from its working capital, will be sufficient to fund operations for the next twelve months from the date these financial statements were issued. However, there can be no assurance that operations and operating cash flows will continue at the current levels or improve in the near future.  Whether, and when, the Company can attain profitability and positive cash flows from operations is uncertain. The Company is also uncertain whether it can raise additional capital. These uncertainties cast substantial doubt upon the Company’s ability to continue as a going concern for a period of one year from the issuance of these financial statements. Our financial statements have been prepared on a going concern basis, which assumes the realization of assets and liquidation of liabilities in the normal course of operations. The financial statements do not include any adjustments relating to the recoverability or classification of recorded asset amounts or the amounts or classification of liabilities should we be unable to continue as a going concern.    

 

r.       Recent Accounting Pronouncements

 

The Company has evaluated recent accounting pronouncements, and their adoption has not had or is not expected to have a material impact on the Company’s financial position, or statements.

 

In November 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures", which amends the disclosure to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses on an annual and interim basis for to enable investors to develop more decision-useful financial analyses. All public entities will be required to report segment information in accordance with the new guidance starting in annual periods beginning after December 15, 2023. The Company is currently assessing potential impacts of ASU 2023-06 and does not expect the adoption of this guidance will have a material impact on its financial statements and disclosures.

 

In December 2023, the FASB issued ASU 2023-09, " Income Taxes (Topic 740): Improvements to Income Tax Disclosures", which amends the disclosure to address investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information and includes certain other amendments to improve the effectiveness of income tax disclosures. For entities other than public business entities, the requirements will be effective for annual periods beginning after December 15, 2025. The guidance will be applied on a prospective basis with the option to apply the standard retrospectively. Early adoption is permitted. The Company is currently assessing potential impacts of ASU 2023-09 and does not expect the adoption of this guidance will have a material impact on its financial statements and disclosures and the Company is in a loss position and not incurring any tax expenses.

NOTE 3 - CUSTOMER DEPOSITS

v3.24.3
NOTE 3 - CUSTOMER DEPOSITS
 12 Months Ended
Dec. 31, 2024
Notes  
NOTE 3 - CUSTOMER DEPOSITS

NOTE 3 – CUSTOMER DEPOSITS

 

The customers deposit account relates to payments received from customers before product has been shipped. When the product is shipped the Company recognizes the associated revenue by reclassifying the customer deposit to the appropriate revenue account. For the periods ended December 31, 2024 and December 31, 2023, the balance due under customer deposits was $845,272 and $310,025, respectively.

NOTE 4 - CONTRACT ASSETS AND LIABILITIES

v3.24.3
NOTE 4 - CONTRACT ASSETS AND LIABILITIES
 12 Months Ended
Dec. 31, 2024
Notes  
NOTE 4 - CONTRACT ASSETS AND LIABILITIES

NOTE 4 – CONTRACT ASSETS AND LIABILITIES

 

Contract Balances

 

The timing of revenue recognition, billings and cash collections results in billed accounts receivable and costs and estimated earnings in excess of billings on uncompleted contracts (contract assets) on the balance sheet. For Omnitek’s long-term contracts, amounts are generally billed as work progresses in accordance with agreed-upon contractual terms. As of December 31, 2024, the company had no long-term contract liabilities.

NOTE 5 - OPERATING LEASES

v3.24.3
NOTE 5 - OPERATING LEASES
 12 Months Ended
Dec. 31, 2024
Notes  
NOTE 5 - OPERATING LEASES

NOTE 5 – OPERATING LEASE

 

The Company’s lease consists of an operating lease for general office space and warehouse facilities. The Company recognizes rent expense for this lease on a straight-line basis over the lease term. Because the lease does not provide an implicit interest rate, the Company uses its incremental borrowing rate based on the information available at the lease Commencement Date in determining the present value of future lease payments.

 

On June 3, 2021, the Company entered into a lease for the premises located at 1345 Specialty Drive #E, Vista, CA, containing approximately 11,751 square feet of rentable area. The lease commenced on July 1, 2021, and expires on June 30, 2026. The monthly base rent under the lease is $9,988 per month and monthly operating expenses during the term of the lease, subject to adjustment under the lease, are $1,175 per month. On Commencement Date, the Company recognized a ROU asset of $653,701 and a lease liability of $652,350.

 

During the year ended December 31, 2024, cash paid for amounts included in the measurement of operating lease liabilities was $131,868 and the Company recorded operating lease expenses included in operating expenses of $43,038 and cost of sales of $106,124, for a total of $149,162.

 

Supplemental balance sheet information related to leases as of December 31, 2024 was as follows:

 

Operating leases:

 

 

 

 

 

Operating lease right-of-use-assets

 

 

 

 

212,504

Operating lease liabilities - current

 

 

 

 

167,461

Operating lease liabilities – long-term

 

 

 

 

86,878

Incremental borrowing rate:

 

 

 

 

 

Operating leases

 

 

 

 

4.94%

 

As of December 31, 2024, maturities of operating lease liabilities were as follows:

 

Years ending December 31,

 

 

 

 

 

 

 

 

 

2025

 

 

 

 

176,268

Thereafter

 

 

 

 

88,134

Total lease payments

 

 

 

 

264,402

Less: Imputed interest

 

 

 

 

(10,063)

Total lease liability

 

 

 

 

254,339

Less: current lease liability

 

 

 

 

(167,461)

Long-term lease liability

 

 

 

$

86,878

NOTE 6 - INVENTORIES

v3.24.3
NOTE 6 - INVENTORIES
 12 Months Ended
Dec. 31, 2024
Notes  
NOTE 6 - INVENTORIES

NOTE 6 – INVENTORIES

 

Inventories are located in Vista, California and at December 31, 2024, and 2023, consisted of the following:

 

 

December 31,

 

December 31,

 

2024

 

2023

Raw materials

$

841,054 

 

$

799,642 

Finished goods

 

434,611 

 

 

494,074 

Total

$

1,275,665 

 

$

1,293,716 

Allowance for obsolete inventory

 

 

 

 

 

Opening allowance

 

922,878 

 

 

927,755 

Allowance/(Reversal) for the Year

 

85,171 

 

 

(4,877)

Closing allowance

 

1,008,049 

 

 

922,878 

Total

$

267,616 

 

$

370,838 

 

The Company has established an allowance for obsolete inventory. The net change in obsolete inventory has an increase of $85,171 and decrease of $4,877, for the years ended December 31, 2024, and December 31, 2023, respectively.

NOTE 7 - PROPERTY AND EQUIPMENT

v3.24.3
NOTE 7 - PROPERTY AND EQUIPMENT
 12 Months Ended
Dec. 31, 2024
Notes  
NOTE 7 - PROPERTY AND EQUIPMENT

NOTE 7 – PROPERTY AND EQUIPMENT

 

Property and equipment at December, 2024, and 2023, consisted of the following:

 

 

December 31,

 

December 31,

2024

 

2023

Production/Office equipment

$

74,792  

 

$

68,456  

Leasehold Improvements

 

4,689  

 

 

4,689  

Less: accumulated depreciation

 

(70,808) 

 

 

(67,478) 

Total

$

8,673  

 

$

5,667  

 

Depreciation expense for the years ended December 31, 2024, and 2023, was $3,329 and $1,745, respectively.

NOTE 8 - NOTES PAYABLE - RELATED PARTIES

v3.24.3
NOTE 8 - NOTES PAYABLE - RELATED PARTIES
 12 Months Ended
Dec. 31, 2024
Notes  
NOTE 8 - NOTES PAYABLE - RELATED PARTIES

NOTE 8 – NOTES PAYABLE – RELATED PARTIES

 

Convertible Notes – Related Parties

 

On June 4, 2021, the Company issued an unsecured convertible promissory note for $30,000 to its CEO. Simple interest at the rate of 8% per annum accrues on the unpaid principal balance of the note. The note calls for monthly installment payments of $1,050 commencing on July 4, 2021. The unpaid principal and accrued interest was due and payable on or before June 4, 2023. On the maturity date, June 4, 2023, the lender elected to transfer the unpaid principal balance of $7,940 to the Working Capital Promissory Note.

 

On June 4, 2021, the Company issued a convertible promissory note for $20,000 to a board member. The note has an annual interest rate of 8% and is unsecured. The principal amount of the note and all accrued interest is due and payable on or before December 4, 2021. On December 14, 2021, the maturity date of convertible promissory note was extended for an additional period of 3 months until March 4, 2022. Subsequently the maturity date was extended for additional periods to June 4, 2022, September 4, 2022, December 4, 2022, June 4, 2023 and December 4, 2023. On December 4, 2023 the Company made a payment of $10,000 reducing the outstanding balance to $10,000 and also extended the note until December 4, 2024. On December 4, 2024 the note was extended until December 4, 2025. The note has a conversion feature, wherein, at the maturity date, the lender may convert the remaining principal balance and any unpaid accrued interest into shares of the Company’s common stock. The number of shares of common stock to be issued upon such conversion shall be equal to the quotient obtained by dividing (i) the remaining unpaid principal balance and any unpaid accrued interest of this note by (ii) 90% of the average closing price of the common stock of the Company, for the five (5) trading days (between days 15 and 10 days) before the maturity date. Due to this provision, the Company considered whether the embedded conversion option qualifies for derivative accounting under ASC 815-15 “Derivatives and Hedging.” As the note is not convertible until maturity, no derivative liability was recognized as of December 31, 2024.

 

As of December 31, 2024, and December 31, 2023, Convertible Notes – Related Party consisted of the following:

 

 

December 31,

2024

 

December 31,

2023

Convertible Notes payable, related parties

 

$

 10,000 

 

 

$

10,000

Less current portion

 

 

(10,000)

 

 

 

(10,000)

Total

 

$

 - 

 

 

 

-

 

Notes Payable – Related Party

 

On January 19, 2017, the Company issued a promissory note for $15,000 to a related party. The note has an annual interest rate of 5% and is unsecured. The principal amount of the note and all accrued interest is due and payable on or before January 19, 2018. The maturity date of the note was extended annually for additional one-year period, with a current due date of January 19, 2024. On September 15, 2023, the lender elected to transfer the unpaid principal balance of $15,000 to the Working Capital Promissory Note.

 

On March 23, 2023, the Company issued a Working Capital Promissory Note, in favor of its CEO, evidencing the additional loans to the Company by the CEO, with an Initial Principal Balance of $20,000, and to evidence any future additional loans by the CEO to the Company thereafter. Pursuant to the terms of the note, the unpaid principal and accrued simple interest at the rate of 8.0% per annum (“Applicable Rate”) shall be due and payable on or before March 22, 2024, (the “Maturity Date”). The principal amount of the note shall be increased by the amount of any additional advances of funds made by the CEO to the Company, from time-to-time, with interest thereon at the applicable Rate, from the date of such advance. On March 22, 2024 the Maturity Date of the Working Capital Promissory Note was extended to March 23, 2026.

 

 

NOTE 8 – NOTES PAYABLE – RELATED PARTIES (continued)

 

As of December 31, 2024, and December 31, 2023 Note Payable – Related Party consisted of the following:

 

 

December 31,

2024

 

December 31,

2023

Note payable, related party

 

$

44,940

 

 

$

37,940

Total

 

$

44,940

 

 

$

37,940

NOTE 9 - DEBT

v3.24.3
NOTE 9 - DEBT
 12 Months Ended
Dec. 31, 2024
Notes  
NOTE 9 - DEBT

NOTE 9 – DEBT

 

Loans payable – SBA Economic Injury Disaster Loan

 

On April 21, 2020, the Company obtained a loan (the “SBA EIDL Loan”) under the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) adminitstered by the U.S. Small Business Administration. The Company received total proceeds of $199,000 from the loan. The SBA EIDL Loan is evidenced by a Loan Authorization and Agreement, a Secured Promissory Note (the “Note” and Security Agreement. Interest on the unpaid principal balance of the Note shall accrue at the rate of three and 75/100 percent (3.75%) per annum. Pursuant to the terms of the Note, commencing May 21, 2022 (i.e., twenty-four (24) months from the Note date), the Company shall make principal and interest payments in the amount of $970 every month, with any unpaid principal and accrued interest due and payable on April 21, 2050. As of December 31, 2024, accrued interest was $9,436. Current monthly payments are applied to the accrued interest. The obligations under the Loan Authorization and Agreement, and the Note shall be secured pursuant to the Security Agreement and a first position lien and security interest in the Collateral (as defined in the Security Agreement). The collateral in which the security interest is granted includes all tangible and intangible personal property, including, but not limited to: (a) inventory, and (b) equipment.

 

As of December 31, 2024, and December 31, 2023, Debt consisted of the following:

 

 

December 31,

 

December 31,

2024

 

2023

Loan payable – SBA EIDL

$

199,000

 

$

199,000

Less current portion

 

-

 

 

-

Total

$

199,000

 

$

199,000

 

As of December 31, 2024 accrued interest was $9,436.

NOTE 10 - COMMITMENTS AND CONTINGENCIES

v3.24.3
NOTE 10 - COMMITMENTS AND CONTINGENCIES
 12 Months Ended
Dec. 31, 2024
Notes  
NOTE 10 - COMMITMENTS AND CONTINGENCIES

NOTE 10 – COMMITMENTS

 

As of December 31, 2024, and 2023, the Company had outstanding purchase commitments for inventory totaling $712,296 and $195,606, respectively. Of these amounts, the Company had prepayments of $494,140 as of December 31, 2024, and $23,113 as of December 31, 2023, and had commitments for future cash outlays for inventory totaling $218,156 and $172,493, respectively.

NOTE 11 - RELATED PARTY TRANSACTIONS

v3.24.3
NOTE 11 - RELATED PARTY TRANSACTIONS
 12 Months Ended
Dec. 31, 2024
Notes  
NOTE 11 - RELATED PARTY TRANSACTIONS

NOTE 11 – RELATED PARTY TRANSACTIONS

 

Accounts Payable – Related Parties

 

The Company regularly incurs expenses that are paid to related parties for purchases of goods and services from related parties. As of December 31, 2024, and December 31, 2023, the Company owed board members for such goods and services $139,834 and $131,285 respectively.

 

NOTE 11 – RELATED PARTY TRANSACTIONS (continued)

 

Accounts Receivable – Related Parties

 

As of December 31, 2024, and December 31, 2023, the Company was owed $3,088 and $1,304, respectively, by an entity controlled by the Company’s CEO for the purchase of products and services.

 

Accrued Management Expenses

 

During the periods ended December 31, 2024, and December 31, 2023, the Company’s president was due amounts for services performed for the Company. As of December 31, 2024, and December 31, 2023 the accrued management fees consisted of the following:

 

 

December 31, 2024

 

December 31, 2023

Amounts due to the president

$

636,311

 

$

635,158

Total

$

636,311

 

$

635,158

NOTE 12 - STOCKHOLDERS' EQUITY

v3.24.3
NOTE 12 - STOCKHOLDERS' EQUITY
 12 Months Ended
Dec. 31, 2024
Notes  
NOTE 12 - STOCKHOLDERS' EQUITY

NOTE 12 – STOCKHOLDERS’ EQUITY

 

Options and Warrants

 

The Company has no warrants outstanding.

 

On April 14, 2023, options to purchase 720,000 shares of common Stock expired.

 

On February 9, 2024, options to purchase 855,556 shares of common stock expired.

 

During the years ended December 31, 2024, and 2023, the Company granted 450,000 and 150,000 options for services, respectively. During the years ended December 31, 2024, and 2023, the Company recognized expenses of $5,363 and $15,776 related to options that vested during the years, pursuant to ASC Topic 718. The total remaining amount of compensation expense to be recognized in future periods is $3,268.

 

On September 11, 2015, the Board of Directors adopted the Omnitek Engineering Corp. 2015, Long Term Incentive Plan (the “2015 Plan”), under which 2,500,000 shares of the Company’s Common Stock were reserved for issuance of both Incentive Stock Options to employees only and Non-Qualified Stock Options to employees and consultants at its discretion. As of December 31, 2024, the Company has a total of 290,000 options issued under the 2015 plan.

 

On October 2017, the Company’s shareholders approved its 2017 Long-Term Incentive Plan (the “2017 Plan”). Under the 2017 plan, the Company may issue up to 5,000,000 shares of both Incentive Stock Options to employees only and Non-Qualified Stock Options to employees and consultants at its discretion. As of December 31, 2024, the Company had a total of 1,600,000 options issued under the plan.

 

The Company recognizes compensation expense for stock-based awards expected to vest on a straight-line basis over the requisite service period of the award based on their grant date fair value. The Company estimates the fair value of stock options using a Black-Scholes option pricing model which requires management to make estimates for certain assumptions regarding risk-free interest rate, expected life of options, expected volatility of stock and expected dividend yield of stock. When determining expected volatility, the Company considers the historical performance of the Company’s stock, as well as implied volatility. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant, based on the options’ expected term. The expected term of the options is based on the Company’s evaluation of option holders’ exercise patterns and represents the period of time that options are expected to remain unexercised. The Company uses historical data to estimate the timing and amount of forfeitures.

 

 

NOTE 12 – STOCKHOLDERS’ EQUITY (continued)

 

The following table presents the assumptions used to estimate the fair values of the stock options granted:

 

 

December 31,

2024

 

December 31,

2023

Expected volatility

210%

 

206%

Expected dividends

0%

 

0%

Expected term

7 Years

 

7 Years

Risk-free interest rate

4.66%

 

3.63%

 

A summary of the status of the options granted at December 31, 2024 and December 31, 2023 and changes during the years then ended is presented below:  

 

 

December 31,

2024

 

December 31,

2023

 

 

 

 

Weighted-Average

 

 

 

 

Weighted-Average

 

Shares

 

 

Exercise Price

 

Shares

 

 

Exercise Price

Outstanding at beginning of year

2,745,556

 

$

0.11

 

3,265,556

 

$

0.15

Granted

450,000

 

 

0.02

 

150,000

 

 

0.04

Exercised

-

 

 

-

 

-

 

 

-

Expired or cancelled

(855,556)

 

 

0.18

 

(670,000)

 

 

0.28

Outstanding at end of year

2,340,000

 

 

0.06

 

2,745,556

 

 

0.11

Exercisable

2,106,667

 

$

0.07

 

2,720,556

 

$

0.11

 

A summary of the status of the options outstanding at December 31, 2024 is presented below:

 

Range of Exercise Prices

 

Number Outstanding

 

Weighted-Average Remaining Contractual Life

 

Number Exercisable

 

Weighted-Average Exercise Price

$0.01-1.00

 

2,340,000

 

2.76 years

 

2,106,667

 

$0.07

 

A summary of the status of the options outstanding at December 31, 2023 is presented below:

 

Range of Exercise Prices

 

Number Outstanding

 

Weighted-Average Remaining Contractual Life

 

Number Exercisable

 

Weighted-Average Exercise Price

$0.01-1.00

 

2,745,556

 

2.04 years

 

2,720,556

 

$0.11

NOTE 13 - INCOME TAXES

v3.24.3
NOTE 13 - INCOME TAXES
 12 Months Ended
Dec. 31, 2024
Notes  
NOTE 13 - INCOME TAXES

NOTE 13 – INCOME TAXES

 

The provision for income taxes for the year ended December 31, 2024 and 2023 consists of the following:

 

 

 

December 31,

 

December 31,

 

2024

 

2023

Federal

 

 

 

 

Current

 

$

- 

 

$

- 

Deferred

 

 

- 

 

 

- 

State

 

 

 

 

 

 

Current

 

$

800 

 

$

800 

Deferred

 

 

- 

 

 

- 

  Income tax expense

 

$

800 

 

$

800 

 

Net deferred tax assets consist of the following components as of December 31, 2024, and 2023:

 

 

 

December 31,

 

December 31,

 

 

2024

 

2023

 

Deferred tax assets:

 

 

 

 

 

Net operating loss carryover

 

$

8,117,452   

 

$

8,035,407   

 

Research and development carry forward

 

 

131,088   

 

 

131,088   

 

Inventory reserve

 

 

241,937   

 

 

221,491   

 

Allowance for doubtful accounts

 

 

3,600   

 

 

3,600   

 

Warranty allowance

 

 

3,068   

 

 

3,068   

 

Accrued compensation

 

 

152,438   

 

 

152,438   

 

Deferred tax liabilities:

 

 

 

 

 

 

 

Depreciation

 

 

(35,281)  

 

 

(34,482)  

 

Valuation allowance

 

 

(8,614,302)  

 

 

(8,512,610)  

 

Net deferred tax asset

 

$

-   

 

$

-   

 

 

The income tax provision differs from the amount of income tax determined by applying the estimated U.S. federal and state income tax rate of 24% as of December 31, 2024 and December 31, 2023 to pretax income from continuing operations for the year ended December 31, 2024 and 2023 due to the following:  

 

  

 

December 31,

 

December 31,

 

 

2024

 

 

2023

Book income (loss)   

 

$

(39,604)  

 

$

(51,697)  

Meals and entertainment   

 

 

-   

 

 

-   

State tax deduction

 

 

-   

 

 

-   

Deferred rent

 

 

-   

 

 

-   

Stock/Options for services

 

 

1,287   

 

 

3,786   

Officer’s life ins premium

 

 

260   

 

 

260   

Depreciation

 

 

799   

 

 

416   

Accrued compensation

 

 

-   

 

 

-   

Inventory reserve

 

 

20,446   

 

 

(1,170)  

Valuation allowance

 

 

34,424   

 

 

97,611   

Net operating of carryover

 

 

(16,812)  

 

 

(48,406)  

Income Tax Expense

 

$

800   

 

$

800   

 

On December 21, 2017, the TCJA was enacted. Among other things, the TCJA reduces the U.S. federal corporate tax rate from 35 percent to 21 percent beginning January 1, 2018, requires companies to pay a one-time transition tax on certain previously unremitted earnings on non-U.S. subsidiaries, creates new taxes on certain foreign sourced earnings and imposes additional limitations on certain deductions, including interest expense and net operating losses arising after 2017. The Company has assessed the impact of the TCJA and is not subject to the one-time

 

NOTE 13 – INCOME TAXES (continued)

 

transition tax. The Company remeasured certain deferred tax assets and liabilities based on the rates that they are expected to reverse in the future, which is generally 21 percent under TCJA. The decrease in the Company’s net deferred tax assets was offset by a corresponding decrease in its valuation allowance.

 

At December 31, 2024, the Company had net operating loss carry forwards of approximately $8,117,452 through 2034.  No tax benefit has been reported in the December 31, 2024, financial statements since the potential tax benefit is offset by a valuation allowance of the same amount. Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur, net operating loss carry forwards may be limited as to use in future years.

NOTE 14 - CONTINGENT LIABILITY

v3.24.3
NOTE 14 - CONTINGENT LIABILITY
 12 Months Ended
Dec. 31, 2024
Notes  
NOTE 14 - CONTINGENT LIABILITY

NOTE 14 – CONTINGENT LIABILITY

 

On September 16, 2022 the Company received a Summons and was named as a cross-defendant in the matter of Olson-Ecologic Engine Testing Laboratories, LLC -v- Michael Naylor, Omnitek Engineering Corp., and Moto Concerto, Inc., filed in the Superior Court of the State of California, County of Orange, Central Justice Center, Case No. 30-2020-01171344. Olson-Ecologic Engine Testing Laboratories, LLC filed the cross-complaint in response to the original complaint filed by Michael Naylor against Olson-Ecologic Engine Testing Laboratories. Omnitek served as a subcontractor to Olson-Ecologic who received a grant in May 2017 from the California Energy Commission. In October 2017, very early in the project and before completion of the project, which was to run into 2020, Olson-Ecologic advised Omnitek that the California Energy Commission had terminated the project. In the cross-complaint Olson-Ecologic alleges that Omnitek participated with Mr. Naylor in overcharging Olson-Ecologic, however, Olson-Ecologic does not provide a specific statement of facts or actions of what Omnitek allegedly did. Olson-Ecologic’s cross-complaint and allegations against Omnitek are without merit and Omnitek will vigorously defend the cross-complaint. As of the time of this report there are no material developments. The trial date is set for December 8, 2025.

NOTE 15 - SUBSEQUENT EVENT

v3.24.3
NOTE 15 - SUBSEQUENT EVENT
 12 Months Ended
Dec. 31, 2024
Notes  
NOTE 15 - SUBSEQUENT EVENT

NOTE 15 – SUBSEQUENT EVENTS

 

None

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: a. Accounting Methods (Policies)

v3.24.3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: a. Accounting Methods (Policies)
 12 Months Ended
Dec. 31, 2024
Policies  
a. Accounting Methods

a.       Accounting Methods

 

The Company's financial statements are prepared using the accrual method of accounting. The Company has elected a December 31, year-end.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: b. Use of Estimates in Preparing Financial Statements (Policies)

v3.24.3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: b. Use of Estimates in Preparing Financial Statements (Policies)
 12 Months Ended
Dec. 31, 2024
Policies  
b. Use of Estimates in Preparing Financial Statements

b.       Use of Estimates in Preparing Financial Statements

 

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates. The Company also regularly evaluates estimates and assumptions related to deferred income tax asset valuation allowances, inventory valuation allowances, allowance for doubtful receivables and valuations of equity-based payments.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: c. Cash and Cash Equivalents (Policies)

v3.24.3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: c. Cash and Cash Equivalents (Policies)
 12 Months Ended
Dec. 31, 2024
Policies  
c. Cash and Cash Equivalents

c.       Cash and Cash Equivalents

 

For purposes of the statements of cash flows, the Company considers all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: d. Accounts Receivable (Policies)

v3.24.3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: d. Accounts Receivable (Policies)
 12 Months Ended
Dec. 31, 2024
Policies  
d. Accounts Receivable

d.       Accounts Receivable

 

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. Allowance for doubtful accounts for the years ended December 31, 2024, and 2023, was $0 and $0, respectively. Additionally, bad debt expense for the years ended December 31, 2024, and 2023, was $0 and $0, respectively.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: e. Inventories (Policies)

v3.24.3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: e. Inventories (Policies)
 12 Months Ended
Dec. 31, 2024
Policies  
e. Inventories

e.       Inventories

 

Inventories are stated at the lower of net realizable value, or average cost basis. 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.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: f. Long-Lived Assets (Policies)

v3.24.3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: f. Long-Lived Assets (Policies)
 12 Months Ended
Dec. 31, 2024
Policies  
f. Long-Lived Assets

f.       Long-Lived Assets

 

The Company assesses the recoverability of its long-lived assets annually and whenever circumstances indicate that there may be an impairment. The Company compares the estimated undiscounted future cash flows to the carrying

 

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

 

value of the long-lived assets to determine if impairment has occurred. In the event that impairment has occurred, the Company recognize the impairment immediately. No impairment expense was recognized as of December 31, 2024, or 2023.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: g. Property and Equipment (Policies)

v3.24.3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: g. Property and Equipment (Policies)
 12 Months Ended
Dec. 31, 2024
Policies  
g. Property and Equipment

g.       Property and Equipment

 

Property and equipment are recorded at cost. Depreciation and amortization are calculated on the straight-line method over the shorter of the lease term or the estimated useful lives of the assets ranging from three- to- five years.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: h. Revenue Recognition (Policies)

v3.24.3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: h. Revenue Recognition (Policies)
 12 Months Ended
Dec. 31, 2024
Policies  
h. Revenue Recognition

h.        Revenue Recognition

 

In general, revenue is recognized when control of the promised goods is transferred to our customers, in an amount that reflects the consideration to which we expect to be entitled in exchange for the goods or services. In order to achieve that core principle, a five-step approach is applied: (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue allocated to each performance obligation when we satisfy the performance obligation. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account for revenue recognition.

 

Performance Obligations

 

A performance obligation is a promise in a contract to transfer a distinct good or service to a customer and is the unit of account in the new revenue standard. The contract transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The majority of Omnitek’s contracts have a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts and, therefore, not distinct.

 

Performance Obligations Satisfied at a Point in Time

 

Revenue from product sales is recognized at a point in time. These sales predominantly contain a single delivery element and revenue is recognized at a single point in time when ownership, risk and rewards transfer Upon fulfilment of the performance obligation, the customer is provided an invoice demonstrating transfer of control to the customer. Revenue from goods and services transferred to customers at a point in time accounted for 100% and 100% of revenue for the years ended December 31, 2024, and 2023, respectively.

 

We recognize revenue on various products and services as follows:

 

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.

 

Assurance-type warranties are the only warranties provided by the Company and, as such, Omnitek does not recognize revenue on warranty-related work. Omnitek generally provides a one-year warranty for products that it sells. Warranty claims historically have been insignificant.

 

 

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

 

Disaggregation of Revenue

 

The following table presents Omnitek’s revenues disaggregated by region and product type:

 

 

 

 

December 31,

 

 

December 31,

 

 

 

 

2024

 

 

 

 

2023

 

 

 

 

Consumer

Long-term

 

 

 

Consumer

Long-term

 

Segments

 

 

Products

Contract

Total

 

 

Products

Contract

Total

Domestic

 

$

359,343

-

359,343

 

$

342,146

-

342,146

International

 

 

660,383

 

660,383

 

 

713,168

 

713,168

 

 

$

1,019,726

 

1,019,726

 

$

1,055,314

 

1,055,314

 

 

 

 

 

 

 

 

 

 

 

Filters

 

 

491,939

-

491,939

 

 

528,917

-

528,917

Components

 

 

527,787

-

527,787

 

 

526,397

-

526,397

Engineering Services

 

 

-

 

-

 

 

-

 

-

 

 

$

1,019,726

 

1,019,726

 

$

1,055,314

 

1,055,314

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: i. Cost of Goods Sold (Policies)

v3.24.3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: i. Cost of Goods Sold (Policies)
 12 Months Ended
Dec. 31, 2024
Policies  
i. Cost of Goods Sold

i.       Cost of Goods Sold

 

The Company includes product costs (i.e., material, direct labor and overhead costs), shipping and handling expense, production-related depreciation expense and product license agreement expense in cost of goods sold.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: j. Research and Development (Policies)

v3.24.3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: j. Research and Development (Policies)
 12 Months Ended
Dec. 31, 2024
Policies  
j. Research and Development

j.       Research and Development

 

The Company expenses the costs for research and development during the period incurred. During the years ended December 31, 2024, and 2023, the Company incurred research and development expenses of $70,323 and $67,576, respectively.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: k. Advertising (Policies)

v3.24.3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: k. Advertising (Policies)
 12 Months Ended
Dec. 31, 2024
Policies  
k. Advertising

k.       Advertising

 

The Company follows the policy of charging the costs of advertising to expense as incurred. During the years ended December 31, 2024, and 2023, the Company expensed $-0- and $-0-, respectively.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: l. Provision for Income Taxes (Policies)

v3.24.3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: l. Provision for Income Taxes (Policies)
 12 Months Ended
Dec. 31, 2024
Policies  
l. Provision for Income Taxes

l.       Provision for Income Taxes

 

The Company accounts for income taxes in accordance with Accounting Standards Codification Topic 740, Income Taxes ("Topic 740"), which requires the recognition of deferred tax liabilities and assets at currently enacted tax rates for the expected future tax consequences of events that have been included in the financial statements or tax returns. A valuation allowance is recognized to reduce the net deferred tax asset to an amount that is more likely than not to be realized. Topic 740 provides guidance on the accounting for uncertainty in income taxes recognized in a company's financial statements. Topic 740 requires a company to determine whether it is more likely than not that a tax position will be sustained upon examination based upon the technical merits of the position. If the more likely-than-not threshold is met, a company must measure the tax position to determine the amount to recognize in the financial statements.

 

The Company includes interest and penalties arising from the underpayment of income taxes in the statements of operations in the provision for income taxes. As of December 31, 2024, the Company had no accrued interest or penalties related to uncertain tax positions. The Company files an income tax return in the U.S. federal jurisdiction and the state of California. With few exceptions, the Company is no longer subject to U.S. federal, state, and local, or non-U.S. income tax examinations by tax authorities for years before 2012.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: m. Basic and Diluted Loss Per Share (Policies)

v3.24.3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: m. Basic and Diluted Loss Per Share (Policies)
 12 Months Ended
Dec. 31, 2024
Policies  
m. Basic and Diluted Loss Per Share

m.       Basic and Diluted Loss Per Share

 

The computation of basic earnings per share of common stock is based on the weighted average number of shares outstanding during the periods presented. The computation of fully diluted earnings per share includes common stock equivalents outstanding at the balance sheet date. The Company had 2,106,667 and 2,720,556 stock options and warrants that would have been included in the fully diluted earnings per share computation as of December 31, 2024 and 2023, respectively. However, in 2024, the common stock equivalents were not included in the loss per share computation because they are anti-dilutive.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: n. Fair Value Measurements (Policies)

v3.24.3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: n. Fair Value Measurements (Policies)
 12 Months Ended
Dec. 31, 2024
Policies  
n. Fair Value Measurements

n.       Fair Value Measurements

 

The fair value of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets are marked to bid prices and financial liabilities are marked to offer prices. Fair value measurements do not include transaction costs. A fair value hierarchy is used to prioritize the quality and reliability of the information used to determine fair values. Categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is defined into the following three categories:

 

Level 1 – Quoted prices in active markets for identical assets or liabilities;

 

Level 2 – Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; and

 

Level 3 – Unobservable inputs that are supported by little or no market activity, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: o. Stock-based Compensation (Policies)

v3.24.3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: o. Stock-based Compensation (Policies)
 12 Months Ended
Dec. 31, 2024
Policies  
o. Stock-based Compensation

o.       Stock-based Compensation

 

The Company recognizes compensation expense for stock-based awards expected to vest on a straight-line basis over the requisite service period of the award based on their grant date fair value.  The Company estimates the fair value of stock options using a Black-Scholes option pricing model which requires management to make estimates for certain assumptions regarding risk-free interest rate, expected life of options, expected volatility of stock and expected dividend yield of stock.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: p. Concentration of Risks (Policies)

v3.24.3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: p. Concentration of Risks (Policies)
 12 Months Ended
Dec. 31, 2024
Policies  
p. Concentration of Risks

p.       Concentration of Risks

 

Customers

 

During the year ended December 31, 2024, four customers accounted for approximately 72% of sales.

 

During the year ended December 31, 2023, eight customers accounted for approximately 91% of sales.

 

Suppliers

 

During the year ended December 31, 2024, two suppliers accounted for 83% of products purchased.

 

During the year ended December 31, 2023, four suppliers accounted for 78% of products purchased.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: q. Liquidity and Going Concern (Policies)

v3.24.3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: q. Liquidity and Going Concern (Policies)
 12 Months Ended
Dec. 31, 2024
Policies  
q. Liquidity and Going Concern

q.       Liquidity and Going Concern

 

Historically, the Company has incurred net losses and positive cash flows from operations. As of December 31, 2024, the Company had an accumulated deficit of $22,027,484 and total stockholders’ deficit of $1,347,464. At December 31, 2024, the Company had current assets of $881,764 including cash of $104,445, and current liabilities of $2,178,041, resulting in negative working capital of $1,296,277. For 2024, the Company reported a net loss of $167,137 and net cash provided by operating activities of $30,077. Management believes that based on its operating

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

 

plan, the projected sales for 2025, combined with funds available from its working capital, will be sufficient to fund operations for the next twelve months from the date these financial statements were issued. However, there can be no assurance that operations and operating cash flows will continue at the current levels or improve in the near future.  Whether, and when, the Company can attain profitability and positive cash flows from operations is uncertain. The Company is also uncertain whether it can raise additional capital. These uncertainties cast substantial doubt upon the Company’s ability to continue as a going concern for a period of one year from the issuance of these financial statements. Our financial statements have been prepared on a going concern basis, which assumes the realization of assets and liquidation of liabilities in the normal course of operations. The financial statements do not include any adjustments relating to the recoverability or classification of recorded asset amounts or the amounts or classification of liabilities should we be unable to continue as a going concern.    

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: r. Recent Accounting Pronouncements (Policies)

v3.24.3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: r. Recent Accounting Pronouncements (Policies)
 12 Months Ended
Dec. 31, 2024
Policies  
r. Recent Accounting Pronouncements

r.       Recent Accounting Pronouncements

 

The Company has evaluated recent accounting pronouncements, and their adoption has not had or is not expected to have a material impact on the Company’s financial position, or statements.

 

In November 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures", which amends the disclosure to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses on an annual and interim basis for to enable investors to develop more decision-useful financial analyses. All public entities will be required to report segment information in accordance with the new guidance starting in annual periods beginning after December 15, 2023. The Company is currently assessing potential impacts of ASU 2023-06 and does not expect the adoption of this guidance will have a material impact on its financial statements and disclosures.

 

In December 2023, the FASB issued ASU 2023-09, " Income Taxes (Topic 740): Improvements to Income Tax Disclosures", which amends the disclosure to address investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information and includes certain other amendments to improve the effectiveness of income tax disclosures. For entities other than public business entities, the requirements will be effective for annual periods beginning after December 15, 2025. The guidance will be applied on a prospective basis with the option to apply the standard retrospectively. Early adoption is permitted. The Company is currently assessing potential impacts of ASU 2023-09 and does not expect the adoption of this guidance will have a material impact on its financial statements and disclosures and the Company is in a loss position and not incurring any tax expenses.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: h. Revenue Recognition: Schedule of Disaggregation of Revenue (Tables)

v3.24.3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: h. Revenue Recognition: Schedule of Disaggregation of Revenue (Tables)
 12 Months Ended
Dec. 31, 2024
Tables/Schedules  
Schedule of Disaggregation of Revenue

 

 

 

 

December 31,

 

 

December 31,

 

 

 

 

2024

 

 

 

 

2023

 

 

 

 

Consumer

Long-term

 

 

 

Consumer

Long-term

 

Segments

 

 

Products

Contract

Total

 

 

Products

Contract

Total

Domestic

 

$

359,343

-

359,343

 

$

342,146

-

342,146

International

 

 

660,383

 

660,383

 

 

713,168

 

713,168

 

 

$

1,019,726

 

1,019,726

 

$

1,055,314

 

1,055,314

 

 

 

 

 

 

 

 

 

 

 

Filters

 

 

491,939

-

491,939

 

 

528,917

-

528,917

Components

 

 

527,787

-

527,787

 

 

526,397

-

526,397

Engineering Services

 

 

-

 

-

 

 

-

 

-

 

 

$

1,019,726

 

1,019,726

 

$

1,055,314

 

1,055,314

NOTE 5 - OPERATING LEASES: Schedule of Supplemental Balance Sheet Information Related to Leases (Tables)

v3.24.3
NOTE 5 - OPERATING LEASES: Schedule of Supplemental Balance Sheet Information Related to Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Tables/Schedules  
Schedule of Supplemental Balance Sheet Information Related to Leases

 

Operating leases:

 

 

 

 

 

Operating lease right-of-use-assets

 

 

 

 

212,504

Operating lease liabilities - current

 

 

 

 

167,461

Operating lease liabilities – long-term

 

 

 

 

86,878

Incremental borrowing rate:

 

 

 

 

 

Operating leases

 

 

 

 

4.94%

NOTE 5 - OPERATING LEASES: Schedule of Maturities of Operating Lease Liabilities (Tables)

v3.24.3
NOTE 5 - OPERATING LEASES: Schedule of Maturities of Operating Lease Liabilities (Tables)
 12 Months Ended
Dec. 31, 2024
Tables/Schedules  
Schedule of Maturities of Operating Lease Liabilities

 

Years ending December 31,

 

 

 

 

 

 

 

 

 

2025

 

 

 

 

176,268

Thereafter

 

 

 

 

88,134

Total lease payments

 

 

 

 

264,402

Less: Imputed interest

 

 

 

 

(10,063)

Total lease liability

 

 

 

 

254,339

Less: current lease liability

 

 

 

 

(167,461)

Long-term lease liability

 

 

 

$

86,878

NOTE 6 - INVENTORIES: Schedule of Inventories (Tables)

v3.24.3
NOTE 6 - INVENTORIES: Schedule of Inventories (Tables)
 12 Months Ended
Dec. 31, 2024
Tables/Schedules  
Schedule of Inventories

 

 

December 31,

 

December 31,

 

2024

 

2023

Raw materials

$

841,054 

 

$

799,642 

Finished goods

 

434,611 

 

 

494,074 

Total

$

1,275,665 

 

$

1,293,716 

Allowance for obsolete inventory

 

 

 

 

 

Opening allowance

 

922,878 

 

 

927,755 

Allowance/(Reversal) for the Year

 

85,171 

 

 

(4,877)

Closing allowance

 

1,008,049 

 

 

922,878 

Total

$

267,616 

 

$

370,838 

NOTE 7 - PROPERTY AND EQUIPMENT: Schedule of Property and Equipment (Tables)

v3.24.3
NOTE 7 - PROPERTY AND EQUIPMENT: Schedule of Property and Equipment (Tables)
 12 Months Ended
Dec. 31, 2024
Tables/Schedules  
Schedule of Property and Equipment

 

 

December 31,

 

December 31,

2024

 

2023

Production/Office equipment

$

74,792  

 

$

68,456  

Leasehold Improvements

 

4,689  

 

 

4,689  

Less: accumulated depreciation

 

(70,808) 

 

 

(67,478) 

Total

$

8,673  

 

$

5,667  

NOTE 8 - NOTES PAYABLE - RELATED PARTIES: Schedule of Convertible Notes - Related Parties (Tables)

v3.24.3
NOTE 8 - NOTES PAYABLE - RELATED PARTIES: Schedule of Convertible Notes - Related Parties (Tables)
 12 Months Ended
Dec. 31, 2024
Tables/Schedules  
Schedule of Convertible Notes - Related Parties

 

 

December 31,

2024

 

December 31,

2023

Convertible Notes payable, related parties

 

$

 10,000 

 

 

$

10,000

Less current portion

 

 

(10,000)

 

 

 

(10,000)

Total

 

$

 - 

 

 

 

-

NOTE 8 - NOTES PAYABLE - RELATED PARTIES: Schedule Of Notes Payable Related Party table (Tables)

v3.24.3
NOTE 8 - NOTES PAYABLE - RELATED PARTIES: Schedule Of Notes Payable Related Party table (Tables)
 12 Months Ended
Dec. 31, 2024
Tables/Schedules  
Schedule Of Notes Payable Related Party table

 

 

December 31,

2024

 

December 31,

2023

Note payable, related party

 

$

44,940

 

 

$

37,940

Total

 

$

44,940

 

 

$

37,940

NOTE 9 - DEBT: Schedule of Debt (Tables)

v3.24.3
NOTE 9 - DEBT: Schedule of Debt (Tables)
 12 Months Ended
Dec. 31, 2024
Tables/Schedules  
Schedule of Debt

 

 

December 31,

 

December 31,

2024

 

2023

Loan payable – SBA EIDL

$

199,000

 

$

199,000

Less current portion

 

-

 

 

-

Total

$

199,000

 

$

199,000

NOTE 11 - RELATED PARTY TRANSACTIONS: Schedule Of Related Party Transactions Table (Tables)

v3.24.3
NOTE 11 - RELATED PARTY TRANSACTIONS: Schedule Of Related Party Transactions Table (Tables)
 12 Months Ended
Dec. 31, 2024
Tables/Schedules  
Schedule Of Related Party Transactions Table

 

 

December 31, 2024

 

December 31, 2023

Amounts due to the president

$

636,311

 

$

635,158

Total

$

636,311

 

$

635,158

NOTE 12 - STOCKHOLDERS' EQUITY: Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions (Tables)

v3.24.3
NOTE 12 - STOCKHOLDERS' EQUITY: Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions (Tables)
 12 Months Ended
Dec. 31, 2024
Tables/Schedules  
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions

 

 

December 31,

2024

 

December 31,

2023

Expected volatility

210%

 

206%

Expected dividends

0%

 

0%

Expected term

7 Years

 

7 Years

Risk-free interest rate

4.66%

 

3.63%

NOTE 12 - STOCKHOLDERS' EQUITY: Share-Based Payment Arrangement, Option, Activity (Tables)

v3.24.3
NOTE 12 - STOCKHOLDERS' EQUITY: Share-Based Payment Arrangement, Option, Activity (Tables)
 12 Months Ended
Dec. 31, 2024
Tables/Schedules  
Share-Based Payment Arrangement, Option, Activity

 

 

December 31,

2024

 

December 31,

2023

 

 

 

 

Weighted-Average

 

 

 

 

Weighted-Average

 

Shares

 

 

Exercise Price

 

Shares

 

 

Exercise Price

Outstanding at beginning of year

2,745,556

 

$

0.11

 

3,265,556

 

$

0.15

Granted

450,000

 

 

0.02

 

150,000

 

 

0.04

Exercised

-

 

 

-

 

-

 

 

-

Expired or cancelled

(855,556)

 

 

0.18

 

(670,000)

 

 

0.28

Outstanding at end of year

2,340,000

 

 

0.06

 

2,745,556

 

 

0.11

Exercisable

2,106,667

 

$

0.07

 

2,720,556

 

$

0.11

NOTE 12 - STOCKHOLDERS' EQUITY: Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable (Tables)

v3.24.3
NOTE 12 - STOCKHOLDERS' EQUITY: Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable (Tables)
 12 Months Ended
Dec. 31, 2024
Tables/Schedules  
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable

 

Range of Exercise Prices

 

Number Outstanding

 

Weighted-Average Remaining Contractual Life

 

Number Exercisable

 

Weighted-Average Exercise Price

$0.01-1.00

 

2,340,000

 

2.76 years

 

2,106,667

 

$0.07

 

A summary of the status of the options outstanding at December 31, 2023 is presented below:

 

Range of Exercise Prices

 

Number Outstanding

 

Weighted-Average Remaining Contractual Life

 

Number Exercisable

 

Weighted-Average Exercise Price

$0.01-1.00

 

2,745,556

 

2.04 years

 

2,720,556

 

$0.11

NOTE 13 - INCOME TAXES: Schedule of Components of Income Tax Expense (Benefit) (Tables)

v3.24.3
NOTE 13 - INCOME TAXES: Schedule of Components of Income Tax Expense (Benefit) (Tables)
 12 Months Ended
Dec. 31, 2024
Tables/Schedules  
Schedule of Components of Income Tax Expense (Benefit)

 

 

 

December 31,

 

December 31,

 

2024

 

2023

Federal

 

 

 

 

Current

 

$

- 

 

$

- 

Deferred

 

 

- 

 

 

- 

State

 

 

 

 

 

 

Current

 

$

800 

 

$

800 

Deferred

 

 

- 

 

 

- 

  Income tax expense

 

$

800 

 

$

800 

NOTE 13 - INCOME TAXES: Schedule of Deferred Tax Assets and Liabilities (Tables)

v3.24.3
NOTE 13 - INCOME TAXES: Schedule of Deferred Tax Assets and Liabilities (Tables)
 12 Months Ended
Dec. 31, 2024
Tables/Schedules  
Schedule of Deferred Tax Assets and Liabilities

Net deferred tax assets consist of the following components as of December 31, 2024, and 2023:

 

 

 

December 31,

 

December 31,

 

 

2024

 

2023

 

Deferred tax assets:

 

 

 

 

 

Net operating loss carryover

 

$

8,117,452   

 

$

8,035,407   

 

Research and development carry forward

 

 

131,088   

 

 

131,088   

 

Inventory reserve

 

 

241,937   

 

 

221,491   

 

Allowance for doubtful accounts

 

 

3,600   

 

 

3,600   

 

Warranty allowance

 

 

3,068   

 

 

3,068   

 

Accrued compensation

 

 

152,438   

 

 

152,438   

 

Deferred tax liabilities:

 

 

 

 

 

 

 

Depreciation

 

 

(35,281)  

 

 

(34,482)  

 

Valuation allowance

 

 

(8,614,302)  

 

 

(8,512,610)  

 

Net deferred tax asset

 

$

-   

 

$

-   

 

NOTE 13 - INCOME TAXES: Schedule of Effective Income Tax Rate Reconciliation (Tables)

v3.24.3
NOTE 13 - INCOME TAXES: Schedule of Effective Income Tax Rate Reconciliation (Tables)
 12 Months Ended
Dec. 31, 2024
Tables/Schedules  
Schedule of Effective Income Tax Rate Reconciliation

 

  

 

December 31,

 

December 31,

 

 

2024

 

 

2023

Book income (loss)   

 

$

(39,604)  

 

$

(51,697)  

Meals and entertainment   

 

 

-   

 

 

-   

State tax deduction

 

 

-   

 

 

-   

Deferred rent

 

 

-   

 

 

-   

Stock/Options for services

 

 

1,287   

 

 

3,786   

Officer’s life ins premium

 

 

260   

 

 

260   

Depreciation

 

 

799   

 

 

416   

Accrued compensation

 

 

-   

 

 

-   

Inventory reserve

 

 

20,446   

 

 

(1,170)  

Valuation allowance

 

 

34,424   

 

 

97,611   

Net operating of carryover

 

 

(16,812)  

 

 

(48,406)  

Income Tax Expense

 

$

800   

 

$

800   

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: d. Accounts Receivable (Details)

v3.24.3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: d. Accounts Receivable (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Details    
Accounts Receivable, Allowance for Credit Loss $ 0 $ 0
Bad Debt Expense $ 0 $ 0

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: h. Revenue Recognition: Schedule of Disaggregation of Revenue (Details)

v3.24.3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: h. Revenue Recognition: Schedule of Disaggregation of Revenue (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Geographic Distribution, Domestic    
Products $ 359,343 $ 342,146
Contract 0 0
Revenues 359,343 342,146
Geographic Distribution, Foreign    
Products 660,383 713,168
Revenues 660,383 713,168
Filters    
Products 491,939 528,917
Contract 0 0
Revenues 491,939 528,917
Components    
Products 527,787 526,397
Contract 0 0
Revenues 527,787 526,397
Engineering Services    
Products 0 0
Revenues 0 0
Products 1,019,726 1,055,314
Revenues $ 1,019,726 $ 1,055,314

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: j. Research and Development (Details)

v3.24.3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: j. Research and Development (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Details    
Research and development $ 70,323 $ 67,576

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: k. Advertising (Details)

v3.24.3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: k. Advertising (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Details    
Advertising Expense $ 0 $ 0

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: m. Basic and Diluted Loss Per Share (Details)

v3.24.3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: m. Basic and Diluted Loss Per Share (Details) - shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Details    
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount 2,106,667 2,720,556

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: p. Concentration of Risks (Details)

v3.24.3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: p. Concentration of Risks (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Details    
Concentration Risk, Customer four customers accounted for approximately 72% of sales eight customers accounted for approximately 91% of sales
Concentration Risk, Supplier two suppliers accounted for 83% of products purchased four suppliers accounted for 78% of products purchased

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: q. Liquidity and Going Concern (Details)

v3.24.3
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: q. Liquidity and Going Concern (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Details      
Accumulated deficit $ 22,027,484 $ 21,860,347  
Total Stockholders' Deficit 1,347,464 1,185,690 $ 986,060
Total Current Assets 881,764 482,521  
Cash 104,445 73,703  
Total Current Liabilities 2,178,041 1,579,512  
Working Capital 1,296,277    
Net income (loss) 167,137 215,406  
Net Cash Provided by (Used in) Operating Activities $ 30,077 $ 17,211  

NOTE 3 - CUSTOMER DEPOSITS (Details)

v3.24.3
NOTE 3 - CUSTOMER DEPOSITS (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Details    
Customer deposits $ 845,272 $ 310,025

NOTE 5 - OPERATING LEASES (Details)

v3.24.3
NOTE 5 - OPERATING LEASES (Details)
 12 Months Ended
Dec. 31, 2024
USD ($)
Details  
Monthly base rent $ 9,988
Monthly Operating Lease Expense 1,175
Adoption of ASC 842 - ROU Asset 653,701
Adoption of ASC 842 - ROU Liability 652,350
Cash Paid for Operating Lease Liabilities 131,868
Operating Lease, Expense 43,038
Cost of Sales $ 106,124

NOTE 5 - OPERATING LEASES: Schedule of Supplemental Balance Sheet Information Related to Leases (Details)

v3.24.3
NOTE 5 - OPERATING LEASES: Schedule of Supplemental Balance Sheet Information Related to Leases (Details)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Details    
Operating lease - right-of-use asset $ 212,504 $ 345,459
Operating lease liabilities - current 167,461 131,868
Operating lease liabilities - long-term $ 86,878 $ 254,339
Operating leases Incremental Borrowing Rate 0.0494  

NOTE 5 - OPERATING LEASES: Schedule of Maturities of Operating Lease Liabilities (Details)

v3.24.3
NOTE 5 - OPERATING LEASES: Schedule of Maturities of Operating Lease Liabilities (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Details    
Lessee, Operating Lease, Liability, to be Paid, Year Three $ 176,268  
Lessee, Operating Lease, Liability, to be Paid, Thereafter 88,134  
Lessee, Operating Lease, Liability, to be Paid 264,402  
Operating Lease, Imputed interest (10,063)  
Operating Lease, Liability 254,339  
Operating lease liabilities - current (167,461) $ (131,868)
Operating lease liabilities - long-term $ 86,878 $ 254,339

NOTE 6 - INVENTORIES: Schedule of Inventories (Details)

v3.24.3
NOTE 6 - INVENTORIES: Schedule of Inventories (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Details    
Raw materials $ 841,054 $ 799,642
Finished goods 434,611 494,074
Inventory, Gross 1,275,665 1,293,716
Opening Allowance 922,878 927,755
Allowance/(Reversal) for the Year 85,171 (4,877)
Closing Allowance 1,008,049 922,878
Inventory Net $ 267,616 $ 370,838

NOTE 6 - INVENTORIES (Details)

v3.24.3
NOTE 6 - INVENTORIES (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Details    
Inventory Write-down $ 85,171 $ 4,877

NOTE 7 - PROPERTY AND EQUIPMENT: Schedule of Property and Equipment (Details)

v3.24.3
NOTE 7 - PROPERTY AND EQUIPMENT: Schedule of Property and Equipment (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
PROPERTY & EQUIPMENT, net $ 8,673 $ 5,667
Less: accumulated depreciation (70,808) (67,478)
Production Equipment    
PROPERTY & EQUIPMENT, net 74,792 68,456
Leasehold Improvements    
PROPERTY & EQUIPMENT, net $ 4,689 $ 4,689

NOTE 7 - PROPERTY AND EQUIPMENT (Details)

v3.24.3
NOTE 7 - PROPERTY AND EQUIPMENT (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Details    
Depreciation and amortization $ 3,329 $ 1,745

NOTE 8 - NOTES PAYABLE - RELATED PARTIES (Details)

v3.24.3
NOTE 8 - NOTES PAYABLE - RELATED PARTIES (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Convertible Notes payable, related parties $ 10,000 $ 10,000 $ 10,000
Debt Instrument, Interest Rate During Period   5.00%  
Debt Conversion, Original Debt, Amount   $ 15,000  
Chief Executive Officer      
Convertible Notes payable, related parties $ 30,000 30,000  
Debt Instrument, Interest Rate During Period 8.00%    
Board Member      
Convertible Notes payable, related parties $ 20,000 $ 20,000  
Debt Instrument, Interest Rate During Period 8.00%    

NOTE 8 - NOTES PAYABLE - RELATED PARTIES: Schedule of Convertible Notes - Related Parties (Details)

v3.24.3
NOTE 8 - NOTES PAYABLE - RELATED PARTIES: Schedule of Convertible Notes - Related Parties (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Details    
Convertible Notes payable, related parties $ 10,000 $ 10,000
Convertible notes payable - related party (10,000) (10,000)
Convertible Notes Payable, Noncurrent $ 0 $ 0

NOTE 8 - NOTES PAYABLE - RELATED PARTIES: Schedule Of Notes Payable Related Party table (Details)

v3.24.3
NOTE 8 - NOTES PAYABLE - RELATED PARTIES: Schedule Of Notes Payable Related Party table (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Details    
Notes payable - related parties $ 44,940 $ 37,940
Notes Payable, Related Parties $ 44,940 $ 37,940

NOTE 9 - DEBT (Details)

v3.24.3
NOTE 9 - DEBT (Details) - SBA EIDL Loan
 56 Months Ended
Dec. 31, 2024
USD ($)
Proceeds from Loans $ 199,000
Debt Instrument, Interest Rate, Effective Percentage 3.75%
Interest Expense, Debt $ 970
Debt Instrument, Maturity Date Apr. 21, 2050

NOTE 9 - DEBT: Schedule of Debt (Details)

v3.24.3
NOTE 9 - DEBT: Schedule of Debt (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
SBA EIDL Loan    
Loans Payable $ 199,000 $ 199,000
Loans Payable, Current 0 0
Loans Payable, Noncurrent $ 199,000 $ 199,000

NOTE 10 - COMMITMENTS AND CONTINGENCIES (Details)

v3.24.3
NOTE 10 - COMMITMENTS AND CONTINGENCIES (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Details    
Purchase Commitment, Remaining Minimum Amount Committed $ 712,296 $ 195,606
Prepayment of Purchase Commitments for Inventory 494,140 23,113
Commitments for Future Cash Outlays for Inventory $ 218,156 $ 172,493

NOTE 11 - RELATED PARTY TRANSACTIONS (Details)

v3.24.3
NOTE 11 - RELATED PARTY TRANSACTIONS (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Accounts payable - related parties $ 139,834 $ 131,285
Accounts receivable - related parties 3,088 1,304
Two Board Members for Services    
Accounts payable - related parties $ 139,834 $ 131,285

NOTE 11 - RELATED PARTY TRANSACTIONS: Schedule Of Related Party Transactions Table (Details)

v3.24.3
NOTE 11 - RELATED PARTY TRANSACTIONS: Schedule Of Related Party Transactions Table (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
President    
Accrued management compensation $ 636,311 $ 635,158
Accrued management compensation $ 636,311 $ 635,158

NOTE 12 - STOCKHOLDERS' EQUITY (Details)

v3.24.3
NOTE 12 - STOCKHOLDERS' EQUITY (Details) - USD ($)
 12 Months Ended
Apr. 14, 2023
Dec. 31, 2024
Dec. 31, 2023
Oct. 01, 2017
Sep. 15, 2015
Options to purchase Common Stock at an exercise price of $0.286 per share expired 720,000        
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Net of Forfeitures   450,000 150,000    
Stock or Unit Option Plan Expense   $ 5,363 $ 15,776    
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount   $ 3,268      
Common Stock, Shares, Issued   21,948,091 21,948,091    
2017 Long Term Incentive Plan          
Common Stock, Shares, Issued   1,600,000      
Employee Stock Option          
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Net of Forfeitures   450,000 150,000    
Employee Stock Option | 2015 Long Term Incentive Plan          
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized         2,500,000
Employee Stock Option | 2017 Long Term Incentive Plan          
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized       5,000,000  

NOTE 12 - STOCKHOLDERS' EQUITY: Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions (Details)

v3.24.3
NOTE 12 - STOCKHOLDERS' EQUITY: Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Details    
Expected volatility 210.00% 206.00%
Expected dividends 0.00% 0.00%
Expected term 7 years 7 years
Risk-free interest rate 4.66% 3.63%

NOTE 12 - STOCKHOLDERS' EQUITY: Share-Based Payment Arrangement, Option, Activity (Details)

v3.24.3
NOTE 12 - STOCKHOLDERS' EQUITY: Share-Based Payment Arrangement, Option, Activity (Details) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2020
Details      
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number 2,340,000 2,745,556 3,265,556
Outstanding, Weighted Average Exercise Price $ 0.06 $ 0.11 $ 0.15
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Net of Forfeitures 450,000 150,000  
Granted, Weighted Average Exercise Price $ 0.02 $ 0.04  
Exercised 0 0  
Exercised, Weighted Average Exercise Price $ 0 $ 0  
Expired or cancelled (855,556) (670,000)  
Expired or cancelled, Weighted Average Exercise Price $ 0.18 $ 0.28  
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance 2,340,000 2,745,556  
Exercisable 2,106,667 2,720,556  
Exercisable, Weighted Average Exercise Price $ 0.07 $ 0.11  

NOTE 12 - STOCKHOLDERS' EQUITY: Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable (Details)

v3.24.3
NOTE 12 - STOCKHOLDERS' EQUITY: Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable (Details) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number 2,340,000 2,745,556
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term 2 years 9 months 4 days 2 years 14 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number 2,106,667 2,720,556
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price $ 0.07 $ 0.11
Minimum    
Share-Based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit 0.01 0.01
Maximum    
Share-Based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit $ 1.00 $ 1.00

NOTE 13 - INCOME TAXES: Schedule of Components of Income Tax Expense (Benefit) (Details)

v3.24.3
NOTE 13 - INCOME TAXES: Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Federal    
Current $ 0 $ 0
Deferred 0 0
State    
Current 800 800
Deferred 0 0
INCOME TAX EXPENSE $ 800 $ 800

NOTE 13 - INCOME TAXES: Schedule of Deferred Tax Assets and Liabilities (Details)

v3.24.3
NOTE 13 - INCOME TAXES: Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Deferred tax assets    
Net operating loss carryover $ 8,117,452 $ 8,035,407
Research and development carry forward 131,088 131,088
Inventory reserve 241,937 221,491
Allowance for doubtful accounts 3,600 3,600
Warranty allowance 3,068 3,068
Accrued compensation 152,438 152,438
Deferred tax liabilities    
Depreciation (35,281) (34,482)
Valuation allowance (8,614,302) (8,512,610)
Net deferred tax asset $ 0 $ 0

NOTE 13 - INCOME TAXES (Details)

v3.24.3
NOTE 13 - INCOME TAXES (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Details    
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent 24.00% 24.00%
Operating Loss Carryforwards $ 8,117,452  

NOTE 13 - INCOME TAXES: Schedule of Effective Income Tax Rate Reconciliation (Details)

v3.24.3
NOTE 13 - INCOME TAXES: Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Details    
Book income (loss) $ (39,604) $ (51,697)
Meals and entertainment 0 0
State tax deduction 0 0
Deferred rent 0 0
Stock/Options for services 1,287 3,786
Officer's life ins premium 260 260
Depreciation 799 416
Accrued compensation 0 0
Inventory reserve 20,446 (1,170)
Valuation allowance 34,424 97,611
Net operating of carryover (16,812) (48,406)
Income Tax Expense $ 800 $ 800

Element Counts

Number of Extension Elements: 251
Number of Contexts: 58
Number of Segments: 20
Number of Units: 4

Content Summary

Documents

000010 - Document - Document and Entity Information

Statements

000020 - Statement - Balance Sheets

000030 - Statement - Balance Sheets - Parenthetical

000040 - Statement - Statements of Operations

000050 - Statement - Statements of Stockholders' Deficit

000060 - Statement - Statements of Cash Flows

Notes to Financials (level 1)

000070 - Disclosure - NOTE 1 - ORGANIZATION AND BUSINESS ACTIVITY

000080 - Disclosure - NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

000090 - Disclosure - NOTE 3 - CUSTOMER DEPOSITS

000100 - Disclosure - NOTE 4 - CONTRACT ASSETS AND LIABILITIES

000110 - Disclosure - NOTE 5 - OPERATING LEASES

000120 - Disclosure - NOTE 6 - INVENTORIES

000130 - Disclosure - NOTE 7 - PROPERTY AND EQUIPMENT

000140 - Disclosure - NOTE 8 - NOTES PAYABLE - RELATED PARTIES

000150 - Disclosure - NOTE 9 - DEBT

000160 - Disclosure - NOTE 10 - COMMITMENTS AND CONTINGENCIES

000170 - Disclosure - NOTE 11 - RELATED PARTY TRANSACTIONS

000180 - Disclosure - NOTE 12 - STOCKHOLDERS' EQUITY

000190 - Disclosure - NOTE 13 - INCOME TAXES

000200 - Disclosure - NOTE 14 - CONTINGENT LIABILITY

000210 - Disclosure - NOTE 15 - SUBSEQUENT EVENT

Policies (level 2)

000220 - Disclosure - NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: a. Accounting Methods (Policies)

000230 - Disclosure - NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: b. Use of Estimates in Preparing Financial Statements (Policies)

000240 - Disclosure - NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: c. Cash and Cash Equivalents (Policies)

000250 - Disclosure - NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: d. Accounts Receivable (Policies)

000260 - Disclosure - NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: e. Inventories (Policies)

000270 - Disclosure - NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: f. Long-Lived Assets (Policies)

000280 - Disclosure - NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: g. Property and Equipment (Policies)

000290 - Disclosure - NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: h. Revenue Recognition (Policies)

000300 - Disclosure - NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: i. Cost of Goods Sold (Policies)

000310 - Disclosure - NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: j. Research and Development (Policies)

000320 - Disclosure - NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: k. Advertising (Policies)

000330 - Disclosure - NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: l. Provision for Income Taxes (Policies)

000340 - Disclosure - NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: m. Basic and Diluted Loss Per Share (Policies)

000350 - Disclosure - NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: n. Fair Value Measurements (Policies)

000360 - Disclosure - NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: o. Stock-based Compensation (Policies)

000370 - Disclosure - NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: p. Concentration of Risks (Policies)

000380 - Disclosure - NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: q. Liquidity and Going Concern (Policies)

000390 - Disclosure - NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: r. Recent Accounting Pronouncements (Policies)

Tables/Schedules (level 3)

000400 - Disclosure - NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: h. Revenue Recognition: Schedule of Disaggregation of Revenue (Tables)

000410 - Disclosure - NOTE 5 - OPERATING LEASES: Schedule of Supplemental Balance Sheet Information Related to Leases (Tables)

000420 - Disclosure - NOTE 5 - OPERATING LEASES: Schedule of Maturities of Operating Lease Liabilities (Tables)

000430 - Disclosure - NOTE 6 - INVENTORIES: Schedule of Inventories (Tables)

000440 - Disclosure - NOTE 7 - PROPERTY AND EQUIPMENT: Schedule of Property and Equipment (Tables)

000450 - Disclosure - NOTE 8 - NOTES PAYABLE - RELATED PARTIES: Schedule of Convertible Notes - Related Parties (Tables)

000460 - Disclosure - NOTE 8 - NOTES PAYABLE - RELATED PARTIES: Schedule Of Notes Payable Related Party table (Tables)

000470 - Disclosure - NOTE 9 - DEBT: Schedule of Debt (Tables)

000480 - Disclosure - NOTE 11 - RELATED PARTY TRANSACTIONS: Schedule Of Related Party Transactions Table (Tables)

000490 - Disclosure - NOTE 12 - STOCKHOLDERS' EQUITY: Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions (Tables)

000500 - Disclosure - NOTE 12 - STOCKHOLDERS' EQUITY: Share-Based Payment Arrangement, Option, Activity (Tables)

000510 - Disclosure - NOTE 12 - STOCKHOLDERS' EQUITY: Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable (Tables)

000520 - Disclosure - NOTE 13 - INCOME TAXES: Schedule of Components of Income Tax Expense (Benefit) (Tables)

000530 - Disclosure - NOTE 13 - INCOME TAXES: Schedule of Deferred Tax Assets and Liabilities (Tables)

000540 - Disclosure - NOTE 13 - INCOME TAXES: Schedule of Effective Income Tax Rate Reconciliation (Tables)

Details (level 4)

000550 - Disclosure - NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: d. Accounts Receivable (Details)

000560 - Disclosure - NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: h. Revenue Recognition: Schedule of Disaggregation of Revenue (Details)

000570 - Disclosure - NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: j. Research and Development (Details)

000580 - Disclosure - NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: k. Advertising (Details)

000590 - Disclosure - NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: m. Basic and Diluted Loss Per Share (Details)

000600 - Disclosure - NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: p. Concentration of Risks (Details)

000610 - Disclosure - NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: q. Liquidity and Going Concern (Details)

000620 - Disclosure - NOTE 3 - CUSTOMER DEPOSITS (Details)

000630 - Disclosure - NOTE 5 - OPERATING LEASES (Details)

000640 - Disclosure - NOTE 5 - OPERATING LEASES: Schedule of Supplemental Balance Sheet Information Related to Leases (Details)

000650 - Disclosure - NOTE 5 - OPERATING LEASES: Schedule of Maturities of Operating Lease Liabilities (Details)

000660 - Disclosure - NOTE 6 - INVENTORIES: Schedule of Inventories (Details)

000670 - Disclosure - NOTE 6 - INVENTORIES (Details)

000680 - Disclosure - NOTE 7 - PROPERTY AND EQUIPMENT: Schedule of Property and Equipment (Details)

000690 - Disclosure - NOTE 7 - PROPERTY AND EQUIPMENT (Details)

000700 - Disclosure - NOTE 8 - NOTES PAYABLE - RELATED PARTIES (Details)

000710 - Disclosure - NOTE 8 - NOTES PAYABLE - RELATED PARTIES: Schedule of Convertible Notes - Related Parties (Details)

000720 - Disclosure - NOTE 8 - NOTES PAYABLE - RELATED PARTIES: Schedule Of Notes Payable Related Party table (Details)

000730 - Disclosure - NOTE 9 - DEBT (Details)

000740 - Disclosure - NOTE 9 - DEBT: Schedule of Debt (Details)

000750 - Disclosure - NOTE 10 - COMMITMENTS AND CONTINGENCIES (Details)

000760 - Disclosure - NOTE 11 - RELATED PARTY TRANSACTIONS (Details)

000770 - Disclosure - NOTE 11 - RELATED PARTY TRANSACTIONS: Schedule Of Related Party Transactions Table (Details)

000780 - Disclosure - NOTE 12 - STOCKHOLDERS' EQUITY (Details)

000790 - Disclosure - NOTE 12 - STOCKHOLDERS' EQUITY: Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions (Details)

000800 - Disclosure - NOTE 12 - STOCKHOLDERS' EQUITY: Share-Based Payment Arrangement, Option, Activity (Details)

000810 - Disclosure - NOTE 12 - STOCKHOLDERS' EQUITY: Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable (Details)

000820 - Disclosure - NOTE 13 - INCOME TAXES: Schedule of Components of Income Tax Expense (Benefit) (Details)

000830 - Disclosure - NOTE 13 - INCOME TAXES: Schedule of Deferred Tax Assets and Liabilities (Details)

000840 - Disclosure - NOTE 13 - INCOME TAXES (Details)

000850 - Disclosure - NOTE 13 - INCOME TAXES: Schedule of Effective Income Tax Rate Reconciliation (Details)

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