Company: TOGIW
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001214659-25-015980
Chunk: 6

Company: TurnOnGreen, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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,000  
  General and administrative                                                                                                                                                                   
  Payroll and benefits                                                                299,000                  267,000                                               976,000          810,000  
  Professional fees and outside services                                               32,000                  149,000                                               237,000          373,000  
  Occupancy costs                                                                     170,000                  164,000                                               516,000          497,000  
  Other general and administrative                                                    217,000                  232,000                                               588,000          728,000  
  Total general and administrative                                                    718,000                  812,000                                             2,317,000        2,408,000  
  Total operating expenses                                                          1,066,000                1,235,000                                             3,391,000        3,737,000  
  Operating loss                              $                                     ( 349,000      $         ( 560,000      $                                    ( 1,263,000      ( 1,936,000  

13. SUBSEQUENT EVENTS

Securities Purchase Agreement

On October 29, 2025, the Company entered into
a Securities Purchase Agreement (“ Agreement”) with SJC Lending LLC ("SJC"), pursuant to which the Company agreed
to sell to SJC convertible promissory notes in the aggregate principal amount of up to $1,650,000(the "Convertible Notes")
for a total purchase price of up to $1.5million (the "Loan").

The Agreement provides that the Loan shall be
conducted through seven (7) separate tranche closings, provided, that SJC has the ability, exercisable in its sole discretion, to purchase
any principal face amount of Convertible Notes prior to the dates of the tranche closings provided for in the Agreement.

Pursuant to the Agreement, the initial tranche
closing, which occurred on October 29,2025, consisted of the issuance of a Convertible Note to SJC in the principal face amount of $440,000for a purchase price of $400,000. The Convertible Note accrues interest at10per annum and will matureOctober 29, 2026. The Convertible
Note is convertible into shares of the Company’s common stock at any time at a conversion price equal to the greater of (i) $0.035
per share, which shall not be adjusted for stock dividends, stock splits, stock combinations and other similar transactions and