The company has effectively exited its legacy business for minimal cash consideration and pivoted to ready-mix concrete. Monitor the next 10-Q for initial revenue and profitability from the new ready-mix operations, and watch for any further dilution from the Series A Preferred Stock issuance used to acquire Hard Rock.
Price Chart
Executive Summary
Omnitek Engineering Corp. (OMTK) sold substantially all of its legacy diesel-conversion technology assets to a newly formed entity, Omnitek Corp., for a de minimis purchase price of $107,217 (offset against a promissory note) and assumption of liabilities. Simultaneously, the company completed its previously announced acquisition of Hard Rock Ready Mix, LLC, transitioning its business to ready-mix concrete operations in North Carolina. Werner Funk terminated his employment and forgave $632,273 in back salary and all other debts owed by the company.
Key Financial Metrics
Key Facts
- OMTK sold substantially all assets of its legacy diesel-conversion technology business to Omnitek Corp. for $107,217 (offset against a promissory note from Werner Funk).
- The total allocated purchase price for the sold assets was $852,230, including $654,026 in inventory and $149,362 in prepaid expenses/receivables.
- Werner Funk terminated his employment agreement and forgave $632,273 in back salary and all other debts owed by the company.
- OMTK completed its acquisition of Hard Rock Ready Mix, LLC, transitioning its primary business to ready-mix concrete operations in North Carolina.
- The company's new management team is led by President/CEO Kevin Jay Hayes Jr., who joined less than one week prior to the filing.
- The prior 8-K (filed Oct 2, 2026) detailed the Hard Rock acquisition via issuance of Series A Preferred Stock and an executive departure.
Financial Impact
Asset sale for $107,217 (offset against debt) with total allocated value of $852,230; debt forgiveness of $632,273 by former CEO; business transition to ready-mix concrete operations.
Risk Factors
- The legacy technology business was sold for a nominal amount, suggesting limited value or distressed circumstances.
- New management team has been in place for less than one week, creating execution risk in a completely new industry (ready-mix concrete).
- The business transition represents a fundamental change in operations with no track record in the new sector.
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001096906-26-001505 |
| Document: omtk-20261002_8k.htm | 0001096906-26-001505 |
| Document: 0001096906-26-001505-index-headers.html | 0001096906-26-001505 |
| Document: 0001096906-26-001505-index.html | 0001096906-26-001505 |
| Document: 0001096906-26-001505.txt | 0001096906-26-001505 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 10d ago | 8-K | $0.0300 $0.0200 | ▲ +33.33% | ▲ +33.67% | $0.0300 (+0.00%) |
Oct 9, 2026 17d ago | SC 13D | $0.0300 $0.0300 | · 0.00% | ▼ −0.06% | $0.0300 (+0.00%) |
Oct 8, 2026 18d ago | 3 | $0.0300 $0.0300 | · 0.00% | ▲ +0.60% | $0.0300 (+0.00%) |
Oct 8, 2026 18d ago | 3 | $0.0300 $0.0300 | · 0.00% | ▼ −0.60% | $0.0300 (−0.00%) |
Oct 8, 2026 18d ago | 3 | $0.0300 $0.0300 | · 0.00% | ▼ −0.60% | $0.0300 (−0.00%) |
Oct 5, 2026 21d ago | 8-K | $0.0400 $0.0300 | ▼ −25.00% | ▼ −25.55% | $0.0300 (−25.00%) |
Oct 1, 2026 25d ago | 8-K | $0.0300 $0.0400 | ▼ −33.33% | ▼ −32.66% | $0.0300 (+0.00%) |
Sep 30, 2026 26d ago | 8-K | $0.0300 $0.0200 | ▲ +33.33% | ▲ +33.51% | $0.0300 (+0.00%) |
US Market Status
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