$OMQS

AMERIGO ENERGY, INC.

CIK:0000278165|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues	$ 7,375	$ 7,802	$ 15,055	$ 15,782
Cost of goods sold	5,855	5,821	11,280	11,618
Gross profit	1,520	1,981	3,775	4,164
Operating expenses
Research & Development	626	556	1,104	969
Selling, general and administrative	2,839	1,651	5,614	3,369
Depreciation	15	17	31	36
Amortization	257	237	513	468
Total operating expenses	3,737	2,461	7,262	4,842
Loss from operations	(2,217)	(480)	(3,487)	(678)
Other income (expenses):
Interest expense	(299)	(131)	(605)	(403)
Other (expenses) income	2,242	3,415	1,917	2,484
Gain (Loss) on debt settlement	3	325		325
Total other (income) expenses	1,946	3,609	1,312	2,406
Net Income (Loss) Before Income Taxes	(271)	3,129	(2,175)	1,728
Current	(257)	(72)	(257)	(37)
Total Provision for Income Taxes	(257)	(72)	(257)	(37)
Income (loss) from continuing operations	(528)	3,057	(2,432)	1,691
Loss from discontinued operations (net of tax)		(1,002)		(1,725)
Net Income (Loss)	(528)	2,055	(2,432)	(34)
Net Income (Loss)	(528)	2,055	(2,432)	(34)
Foreign currency translation adjustment	(283)	1,169	174	(1,838)
Comprehensive income (loss)	(811)	3,224	(2,258)	(1,872)
Reconciliation of net income (loss) to net income (loss) attributable to common shareholders
Net Income (Loss)	(528)	2,055	(2,432)	(34)
Less: Dividends attributable to non-common stockholders’ of OmniQ Corp	(8)	(8)	(15)	(14)
Net income (loss) attributable to common stockholders’ of OmniQ Corp	$ (536)	$ 2,047	$ (2,447)	$ (48)
Net income (loss) per share - basic attributable to common stockholders’ of OmniQ Corp	$ (0.03)	$ 0.19	$ (0.16)	$ (0.00)
Net income (loss) per share - diluted	(0.03)	0.15	(0.16)	(0.00)
Net loss per share from discontinued operations		$ (0.09)		$ (0.16)
Weighted average number of common shares outstanding - basic	15,140,705	10,712,930	15,140,705	10,712,930
Weighted average number of common shares outstanding – dilutive	15,140,705	13,616,997	15,140,705	10,712,930

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operations
Net loss	$ (2,432,000)	$ (34,000)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Stock-based compensation		66,000
Depreciation and amortization	582,000	569,000
Amortization of ROU asset	112,000	228,000
Loss from sale of other assets
Changes in operating assets and liabilities:
Accounts receivable	944,000	7,168,000
Prepaid expenses	(418,000)	331,000
Inventory	285,000	3,739,000
Other assets	71,000	70,000
Accrued payroll and sales taxes payable	(372,000)	726,000
Lease liability	(235,000)	(220,000)
Deferred tax assets, net	(5,000)	18,000
Other liabilities	2,585,000	(6,107,000)
Net cash provided by (used in) operating activities - continuing	877,000	6,072,000
Net cash provided by (used in) operating activities	877,000	6,072,000
Cash flows from investing activities
Purchase of property and equipment	(49,000)	(75,000)
Cash paid for divestiture	919,000	(2,388,000)
Net cash (used in) investing activities – continuing operations	870,000	(2,463,000)
Net cash (used in) investing activities	870,000	(2,463,000)
Cash flows from financing activities
Net proceeds on exercise of options	3,000
Payments on notes/loans payable	(2,669,000)	(2,686,000)
Proceeds from draw on line of credit	413,000	970,000
Net cash (used in) provided by financing activities – continuing operations	(2,253,000)	(1,716,000)
Net cash (used in) provided by financing activities	(2,253,000)	(1,716,000)
Net change in cash and cash equivalents	(506,000)	1,893,000
Effect of foreign exchange rates on cash and cash equivalents	910,000	(2,033,000)
Cash and cash equivalents at beginning of period	679,000	2,349,000
Cash and cash equivalents at end of period	1,083,000	2,209,000
Non-cash activities:
Declared dividends payable	7,000	7,000
Right of use asset acquired in exchange for lease liability
Cancelation of lease		471,000
Supplemental disclosure of cash flow information:
Cash paid for interest	362,000	450,000
Cash paid for income taxes
Nonrelated Party [Member]
Changes in operating assets and liabilities:
Accrued interest and accrued liabilities	(240,000)	(396,000)
Related Party [Member]
Changes in operating assets and liabilities:
Accrued interest and accrued liabilities		$ (86,000)

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 1,083	$ 679
Accounts receivable, net	8,200	9,536
Inventory	3,073	3,409
Prepaid expenses	1,206	786
Other current assets	37	52
Total current assets	13,599	14,462
Property and equipment, net of accumulated depreciation of $1,441 and $1,413 respectively	510	528
Goodwill	3,304	3,336
Trade name, net of accumulated amortization of $5,442 and $5,334, respectively	1,032	1,154
Customer relationships, net of accumulated amortization of $13,763 and $13,474, respectively	2,368	2,757
Other intangibles, net of accumulated amortization of $2,056 and $2,038, respectively	283	335
Right of use lease asset	2,369	1,656
Other assets	1,628	1,948
Total Assets	25,093	26,176
Current liabilities
Accounts payable and accrued liabilities	10,643	11,232
Line of credit	1,784	1,342
Accrued payroll and sales tax	1,491	1,649
Related party advances	7,301	3,767
Lease liability – current portion	659	373
Other current liabilities	1,706	2,933
Total current liabilities	28,814	27,701
Long-term liabilities
Lease liability	1,537	1,237
Other long term liabilities	462	715
Total liabilities	39,963	38,873
Stockholders’ equity (deficit)
Common stock; $0.001 par value; 35,000,000 shares authorized; 15,152,930 and 15,102,930 shares issued and outstanding, respectively	15	15
Additional paid-in capital	113,595	113,592
Accumulated (deficit)	(126,400)	(124,050)
Accumulated other comprehensive loss	(2,081)	(2,255)
Total OmniQ stockholders’ equity (deficit)	(14,870)	(12,697)
Total liabilities and equity (deficit)	25,093	26,176
Series A Preferred Stock [Member]
Stockholders’ equity (deficit)
Preferred stock, value
Series B Preferred Stock [Member]
Stockholders’ equity (deficit)
Preferred stock, value
Series C Preferred Stock [Member]
Stockholders’ equity (deficit)
Preferred stock, value	1	1
Related Party [Member]
Current liabilities
Notes payable	919	919
Long-term liabilities
Notes payable	8,267	8,690
Nonrelated Party [Member]
Current liabilities
Notes payable	4,311	5,486
Long-term liabilities
Notes payable	$ 883	$ 530