NOTE 4 - RELATED PARTY TRANSACTIONS

6 Months Ended

Jun. 30, 2019

Disclosure Text Block [Abstract]

NOTE 4 - RELATED PARTY TRANSACTIONS

NOTE 4 - RELATED PARTY TRANSACTIONS

Accounts Receivable – Related Parties

The Company holds a non-controlling interest in various distributors in exchange for use of the Company’s name and logo. As of June 30, 2019, the Company owned a 15% interest in Omnitek Engineering Thailand Co. Ltd. and a 20% interest in Omnitek Peru S.A.C.  As of June 30, 2019 and December 31, 2018, the Company was owed $15,858 and $6,666, respectively, by related parties for the purchase of products and services.

Accounts Payable – Related Parties

The Company regularly incurs expenses that are paid to related parties and purchases goods and services from related parties. As of June 30, 2019 and December 31, 2018, the Company owed related parties for such expenses, goods and services in the amounts of $136,310 and $145,171, respectively.

Accrued Management Expenses

For the periods ended June 30, 2019 and December 31, 2018, the Company’s president and chief financial officer were due amounts for services performed for the Company.  

As of June 30, 2019 and December 31, 2018 the accrued management fees consisted of the following:

	June 30,			December 31,
	2019			2018
Amounts due to the president		$	468,811		$	399,296
Amounts due to the chief financial officer			138,192			106,807
Total		$	607,003		$	506,103