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OmniTek Engineering (OmniTek Engineering) Long-Term Capital Lease Obligation : $0.25 Mil (As of Dec. 2023)


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What is OmniTek Engineering Long-Term Capital Lease Obligation?

OmniTek Engineering's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was $0.25 Mil.

OmniTek Engineering's quarterly Long-Term Capital Lease Obligation declined from Jun. 2023 ($0.33 Mil) to Sep. 2023 ($0.29 Mil) and declined from Sep. 2023 ($0.29 Mil) to Dec. 2023 ($0.25 Mil).

OmniTek Engineering's annual Long-Term Capital Lease Obligation declined from Dec. 2021 ($0.51 Mil) to Dec. 2022 ($0.39 Mil) and declined from Dec. 2022 ($0.39 Mil) to Dec. 2023 ($0.25 Mil).


OmniTek Engineering Long-Term Capital Lease Obligation Historical Data

The historical data trend for OmniTek Engineering's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

OmniTek Engineering Long-Term Capital Lease Obligation Chart

OmniTek Engineering Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Long-Term Capital Lease Obligation
Get a 7-Day Free Trial Premium Member Only Premium Member Only - - 0.51 0.39 0.25

OmniTek Engineering Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Long-Term Capital Lease Obligation Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.39 0.36 0.33 0.29 0.25

OmniTek Engineering  (OTCPK:OMTK) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

OmniTek Engineering Long-Term Capital Lease Obligation Related Terms

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OmniTek Engineering (OmniTek Engineering) Business Description

Traded in Other Exchanges
N/A
Address
1345 Specialty Dr. No. E, Vista, CA, USA, 92081
OmniTek Engineering Corp is a developer or manufacturer of patented hotwires spark plug wires. It develops and sells proprietary diesel-to-natural gas engine conversion systems and complementary products, including new natural gas engines that utilize the Company's technology. Omnitek products are available for stationary applications in the transportation industry, which includes light commercial vehicles, minibuses, heavy-duty trucks, municipal buses, as well as rail and marine applications.
Executives
Gary S Maier director 815 MORAGA DRIVE, SUITE 306, LOS ANGELES CA 90049
John M Palumbo director
Werner Funk director, 10 percent owner, officer: President, CEO and Secretary 1345 SPECIALTY DR., #E, VISTA CA 92081
Richard L Miller officer: CFO 1333 KEYSTONE WAY, #101, VISTA CA 92081
Janice M Quigley director, officer: Vice President 15-2819 INA STREET, PAHOA HI 96778
Alicia A Rolfe officer: CFO 1333 KEYSTONE WAY, #101, VISTA CA 92081
George G Chachas director
John D Garber 10 percent owner 7506 N BROADWAY EXTN, STE 505, OKLAHOMA CITY OK 73116