UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported):
(Exact name of registrant as specified in charter)
(State or other jurisdiction | (Commission | (IRS Employer | ||
of incorporation) | File Number) | Identification No.) |
(Address of Principal Executive Offices) (Zip Code)
(Registrant’s Telephone Number, Including Area Code)
(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 | ||
The |
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 Disclosure
On January 4, 2023, OmniQ Corp. (the “Company”) issued a press release. A copy of the press release is attached hereto and incorporated herein by reference in its entirety as Exhibit 99.1.
Item 9.01 Financial statements and Exhibits
(d) Exhibits.
Exhibit Number | Description | |
99.1 | Press Release | |
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: January 4, 2023
OMNIQ Corp. | ||
By: | /s/ Shai S. Lustgarten | |
Shai S. Lustgarten | ||
President and CEO |
Exhibit 99.1
OMNIQ’S Q SHIELD™ AI-BASED SAFE CITY SYSTEM, TO BE DEPLOYED IN TWO ADDITIONAL CITIES IN IOWA BRINGING THE TOTAL NUMBER OF CITIES TO 16
SALT LAKE CITY, January 4, 2023, (GLOBE NEWSWIRE) — OMNIQ Corp. (NASDAQ: OMQS) (“OMNIQ” or “the Company”), a provider of Artificial Intelligence (AI)-based solutions, today announced that the Company has been selected by the Cities of Mitchellville, Iowa and Jewell, Iowa to deploy its Q Shield Safe City System, based on vehicle recognition systems (VRS) technology and its cloud based citation management platform. Q Shield™ identifies any vehicle driving through the city which is on a National Crime Information Center (NCIC) data base or the cities local Bureau of Investigations Database and cites violators who drive through the city with outstanding traffic violations, and provide notifications for law enforcement and local authorities, that allow proactive actions preventing risks from becoming events. Q Shield™ is used by law enforcement as a force multiplier and a strong investigation tool. The system will also identify additional alerts such as for unregistered vehicles.
Shai Lustgarten, CEO commented “With continued momentum in our Safe City product, Q Shield™, we are excited to expand our footprint in the state of Iowa. With the addition of Mitchellville and Jewell, we now have 16 cities under contract nationwide. Our pipeline continues to grow both in Iowa and in several other states across the country. This is significant for not only our company but also for the people and communities who have trusted our technology to improve everyday lives with an unbiased approach. In addition to added protection, each city benefits financially with the use of our Vehicle Recognition Technology adding to the overall impact of partnering with OMNIQ. We look forward to continuing the momentum and achieving significant recurring revenue for many years to come”
Q Shield, OMNIQ’s AI-based machine vision VRS solution uses patented Neural Network algorithms that imitate human brains for pattern recognition and decision-making. More than 17,000 OMNIQ AI based machine vision sensors are installed worldwide, including approximately 7,000 in the U.S. Based on superior accuracy and patented features like identification of make and color, combined with superior accuracy based on the sophisticated algorithm and machine learning that largely depends on accumulated data provided by thousands of sensors already deployed.
About OMNIQ Corp:
OMNIQ Corp. provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver data collection, real-time surveillance and monitoring for supply chain management, homeland security, public safety, traffic & parking management, and access control applications. The technology and services provided by the Company help clients move people, assets, and data safely and securely through airports, warehouses, schools, national borders, and 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, oil, gas, and chemicals.
The Company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to $29 billion by 2022, and the Ticketless Safe Parking market, forecast to grow to $5.2 billion by 2023 and the fast casual restaurant sector expected to reach $209 billion by 2027.
For more information please visit www.omniq.com.
Information about 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:
IR Contact
Koko Kimball
385-758-9241
kkimball@omniq.com
Cover |
Jan. 04, 2023 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Jan. 04, 2023 |
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 |
Entity Information, Former Legal or Registered Name | Not Applicable |
-8?20$3;8T.P6BP^0"X99K>]9!:G
*G\V :
MQWF]3@ M$\ON4>MG8'_.EVFX\SH.RR- O+A[7JL[IO:7MW2E+&RD?AT^L>&'SS8TCQS%A
M1@"A_GNT-9_^S8T+N?+(D/\;!8,K6%D'E>0^$ATU17 $,1_$LOXNAO>V!KDR
MZ)<,HMUM;H@=/]AQF.TP*K:3M.T!:A/3[B/J;P<2PD2Y^"GJ4%,X2NHB*HY[
MZ2!-;B.7]CR38XO8GFL.D0L&X7:&LF70P&X##=).PAU&$RO3'O0#FH.M85C8
ML4V +AJ*]3HJ DG^X2H&.'5G*OLH)!1DCV_L(8)WRGJ(DWM8W>^CLMM,U"WDXFO
MYPW90XFCY'KU0G')#[7.J'HN_XI2T"B@I'U0T4WW,S3.;+>WZO;V['C*>7
M.;""LD9)^7RB&F;[63XHXG;IC5;I6'+_]I!*0RAAE 0O(*UAR"4_JO'NF4#!
MHF1VE7*0^H3K93PC8DK]JQ>J+:& 43*]D#BTOG<*ZGNGS^Q[43(^GR@DML7:
M<'M%W8XYFQ+_3K)@ ? ^&TSB :E-[]_+M_RX_=LJS?T8V _5V#VF4. X6R1#
M\II&G27,T*1P:< $$;%-J;;[VCS9>7TI: !P]E "1:,,[W^CG'\4"*L\UX#&%(D><._3(PUE[62QJ
MWMY[BA=UA(C[2D#!(TXBAL4BK4\SU/G,GNA[8LC:PQ!_7PDH?\0)Q;!8M/7S
MJF]O/%,9GC/?,X321EP*6RD-!?(H)9Q?99H)JH-]RYXA%#+BFM=*:2B0KU.J
MIK93^Z#DPLS6>SM#L#T%H- 15[8&I>+ 7_[<1U[L?PN2K[ &OYT $;M7)-9K
M-^+8+:0H[N0B([S4^[,T.9MH44/]:6@44!)
M5Z&B<>ZM.SOY@[?6DAV4-V)B6B4,9\]4-N8L'G!)@L_E)3,H7\0LM$(6"MXK
M(AY5-C?QZD[)F%(W?:*W5QL@(0)6 T)8G[Z+!0XPP4R3=UF(AD_CF96M+[-
M3/[>4NM?<- @6 X:&LQ-G #A2$]!^N=&+YI