OMQS OMNIQ Corporation (QB)

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): August 5, 2024

 

OMNIQ CORP.

(Exact name of registrant as specified in charter)

 

Delaware		001-40768		20-3454263
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

1865 West 2100 South, Salt Lake City, UT 84119

(Address of Principal Executive Offices) (Zip Code)

 

(714) 899-4800

(Registrant’s Telephone Number, Including Area Code)

 

Not Applicable

(Former Name or Former Address, If Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Ticker symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.001		OMQS		The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mart if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 7.01 Regulation FD

 

On August 5, 2024, Omniq Corp. (the “Company”) issued a press release. A copy of the press release is furnished hereto as Exhibit 99.1 and incorporated herein by reference.

 

Item 9.01 Financial Statements and Exhibits

 

(d) Exhibits

 

Exhibit Number		Description
99.1		Press Release Dated August 5, 2024
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: August 5, 2024

 

OMNIQ Corp.
By:	/s/ Shai S. Lustgarten
	Shai S. Lustgarten
	President and CEO

 

 

 

Exhibit 99.1

 

 

omniQ Deploys AI-Based Parking Control Solution at Major Ohio Medical Center

 

SALT LAKE CITY, Aug. 05, 2024 (GLOBE NEWSWIRE) — OMNIQ Corp. (OTCQB: OMQS) (“OMNIQ” or “the Company”), a leading provider of AI- based solutions and supply chain management, proudly announces the deployment of its advanced AI-based parking control solution, PERCS^™, integrated with WPS Parking Solutions and Citywide Solutions, Inc. (CSI), at a prominent medical center in Ohio.

 

This strategic implementation will create ongoing SaaS and revenue share streams of income for omniQ^® and underscores The Company’s commitment to enhancing operational efficiency and security in critical healthcare environments.

 

The newly deployed AI-Based access control solution provides the medical center with a comprehensive system for managing parking assignments. The system enables the medical center to allocate specific parking areas based on the type of parking pass issued, ensuring that access is restricted to authorized personnel only.

 

Key Features of the AI-Based Parking Control Solution:

 

	●	Customized Parking Assignments: The system allows the medical center to give specific parking assignments to registered parkers, granting access to designated areas while restricting access to unauthorized zones.
	●	Customer-Facing Portal: Users can register their vehicles, make changes, and receive warnings and notifications through an intuitive online portal, enhancing user experience and convenience.
	●	Cloud-Based Management: The solution is cloud-based, allowing for centralized management and updates across multiple locations nationwide.
	●	Enhanced Security Measures: PERCS includes standard features such as multiple hot lists and allow lists, ensuring robust security and efficient parking management.

 

Shai Lustgarten, CEO of OMNIQ, commented, “Our partnerships have enabled us to add significant functionality to our AI machine vision solution, creating even more value for our customers. This collaboration not only enhances the user experience but also expands the possible use cases for our product.”

 

About OMNIQ Corp:

 

OMNIQ Corp. (OMQS) provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver real time object identification, tracking, surveillance and monitoring for the Supply Chain Management, Public Safety, and Traffic Management applications. The technology and services provided by the Company helps clients move people, objects and manage big data safely and securely through airports, warehouses, schools, and national borders and in many other applications and environments.

 

OMNIQ’s customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, and oil, gas, and chemicals. Since 2014, annual revenues have more than doubled, reaching $81 million in 2023, from clients in more than 40 countries.

 

The Company currently addresses several billion-dollar markets with double-digit growth, including the Global Smart City & Public Safety markets.

 

For more information, visit www.omniq.com.

 

About WPS Parking Solutions

 

WPS Parking Solutions is a leading provider of innovative parking management systems that enhance the customer experience and optimize operational efficiency. WPS offers a range of solutions tailored to meet the unique needs of various sectors, including healthcare, commercial, and public parking facilities.

 

For more information, please visit: https://www.wpsparking.com/

 

About Citywide Solutions

 

Citywide Solutions, Inc. (CSI), offers consultation, engineering, installation, and training for security and low voltage systems. The company is committed to service, communication, and accountability, ensuring customer satisfaction by completing service requests promptly. Initially focused on Central Ohio, CSI has expanded into multiple markets due to growing customer demand, while maintaining its dedication to high- quality customer service and lasting relationships with vendors, contractors, and customers.

 

For more information, please visit: www.citywidesolutionsinc.com

 

 

Forward-Looking Statements

 

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

 

This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “anticipate”, “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements.

 

Examples of forward-looking statements include, among others, statements made in this press release regarding the closing of the private placement and the use of proceeds received in the private placement. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company’s products particularly during the current health crisis, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, and other information that may be detailed from time-to-time in OMNIQ Corp.’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting OMNIQ Corp., please refer to the Company’s recent Securities and Exchange Commission filings, which are available at https://www.sec.gov. OMNIQ Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law.

 

Contact Information: IR@omniq.com

 

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Cover	Aug. 05, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Aug. 05, 2024
Entity File Number	001-40768
Entity Registrant Name	OMNIQ CORP.
Entity Central Index Key	0000278165
Entity Tax Identification Number	20-3454263
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	1865 West 2100 South
Entity Address, City or Town	Salt Lake City
Entity Address, State or Province	UT
Entity Address, Postal Zip Code	84119
City Area Code	(714)
Local Phone Number	899-4800
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.001
Trading Symbol	OMQS
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false

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