Last $2.80 USD
Change Today +0.03 / 1.08%
Volume 2.1K
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As of 8:10 PM 07/11/14 All times are local (Market data is delayed by at least 15 minutes).

omnitek engineering corp (OMTK) Snapshot

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01/17/14 - $3.00
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omnitek engineering corp (OMTK) Details

Omnitek Engineering Corp. develops and supplies natural gas engines and advanced engine management systems for gaseous fuels worldwide. It also manufactures a proprietary technology, which is used to convert old or new diesel engines to operate on natural gas, propane, or hydrogen. The company offers natural gas engines; conversion kits for converting rich-burn natural gas engines to lean-burn natural gas engines; and conversion kits for converting a diesel engine to operate on natural gas. Its products are used for stationary applications, such as generator sets; and transportation industry, including light commercial vehicles, minibuses, heavy-duty trucks, and municipal buses, as well as rail and marine applications. The company sells and delivers its products through its distributors, engine manufacturers, system integrators, fleet operators, and engine conversion companies, as well as directly to its end-users. Omnitek Engineering Corp. has a strategic alliance with Reviva. The company is headquartered in Vista, California.

19 Employees
Last Reported Date: 03/31/14

omnitek engineering corp (OMTK) Top Compensated Officers

Chairman, Chief Executive Officer, President,...
Total Annual Compensation: $153.8K
Chief Financial Officer
Total Annual Compensation: $29.4K
Vice President and Director
Total Annual Compensation: $50.5K
Compensation as of Fiscal Year 2013.

omnitek engineering corp (OMTK) Key Developments

Omnitek Engineering Receives Order from National Raisin Company for Biogas Powered Generator

Omnitek Engineering Corp. announced it has received an order for a 250 kilowatt diesel-to-biogas converted power generator from National Raisin Company Inc. that incorporates Omnitek's technology for stationary engine applications and provides a clean and economical solution to the agricultural industry in the San Joaquin Valley region of California. The converted engine/generator system will operate as a Combined Heat and Power (CHP) unit, also called cogeneration or distributed generation, and will simultaneously produce two types of energy -- heat and electricity -- from one fuel source (biogas). The biogas to power National Raisin Company's electric generator will be derived from an anaerobic digester process capable of producing an estimated 100,000 cubic feet of renewable natural gas per day from the farm's liquid waste, which is currently diverted to a municipal water treatment facility. It is estimated that current water treatment costs will be reduced by at least 80%, with expectations that water from the anaerobic digester will be recycled and utilized for irrigation of the vineyards -- completely eliminating the need for water treatment by the municipal plant, while reducing CO2 and other greenhouse gas emissions in the immediate surrounding area.

Omnitek Engineering Adopts Amended and Restated By-Laws

On May 28, 2014, the Board of Directors of Omnitek Engineering adopted the amendments to the Amended and Restated By-laws of the company. The Amended By-Laws were ratified on May 31, 2014 at the Annual Meeting of the Shareholders, and became effective on such date. The Amended By-laws amended the prior By-laws as follows: Article III, Section 3.3 was amended to increase the allowable number of Directors on the Board; prior to amendment the By-laws allowed not less than one or more than five, that number was increased to read, not less than three or more than seven persons; Article VII, Section 7.1 was amended to bring it in alignment with the amended Section 1501(b) of the California General Corporation Law and add language allowing the company to utilize the Securities and Exchange Commission's e-proxy rules.

Omnitek Engineering Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014

Omnitek Engineering Corporation announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company announced revenues of $320,374,000 compared to $349,329,000 for the same period a year ago. Loss from operations was $438,026,000 compared to $270,690,000 for the same period a year ago. Loss before income taxes was $417,005,000 compared to $249,620,000 for the same period a year ago. Net loss was $417,805,000 compared to $250,420,000 for the same period a year ago. Basic and diluted loss per share was $0.02 compared to $0.01 for the same period a year ago. The company reported an increased net loss primarily due to higher operating expenses and research and development outlays related to the development of engine conversion kits for additional engine models.


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