OMNITEK ENGINEERING CORP (OTCMKTS:OMTK) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02 – Unregistered Sales of Equity Securities
On January 7, 2020, the Company issued 500,000 restricted shares of Common Stock to Jack Ferraro upon the conversion of $25,000 of the unpaid principal owing under that certain Senior Secured Promissory Note dated June 11, 2018 (the “Note”). The shares were issued at a price of $0.05 per the terms of the Note. No underwriters were used. The shares were issued to an exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933. Mr. Ferraro is an “Accredited Investor” as defined under Rule 501 of Regulation D of the Act and has such knowledge and experience and possessed such information as it deemed necessary to make an informed investment decision.
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
On January 7, 2020, Richard Miller notified the Company of his resignation as a director and the Chief Financial Officer Company, effective February 7, 2020, in order to pursue other opportunities.
About OMNITEK ENGINEERING CORP (OTCMKTS:OMTK)
Omnitek Engineering Corp. (Omnitek) develops and sells 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 (generator sets), the global transportation industry, which includes light commercial vehicles, minibuses, heavy-duty trucks, municipal buses, as well as rail and marine applications. The technology can be used for compressed natural gas, liquefied natural gas or Biogas. Omnitek has developed a system that can be used to convert diesel engines to be able to operate using natural gas. Omnitek offers approximately four primary product lines, which include a conversion kit for converting rich-burn natural gas engines to lean-burn; a conversion kit for converting diesel engines to run on natural gas; new complete natural gas engines, and natural gas components. It operates over 25,000 square feet of industrial space.
