Company: TOMZ
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001654954-25-004233
Chunk: 519

Company: TOMI Environmental Solutions, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 1A
Chunk 519
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) before income tax $(4,476,762) $(3,402,592)US statutory corporate income tax rate  28%  28%Income tax expense computed at US statutory corporate income tax rate  (1,253,493)  (952,726)Reconciling items:        Change in valuation allowance on deferred tax assets  1,152,938   2,121,778 Provision to prior year tax return  68,437   (1,188,884)Meals and Entertainment  2,330   3,347 Other  29,788   16,485 Income tax expense (benefit) $-  $-  Components of our deferred income tax assets (liabilities) are as follows:   December 31,  December 31,   2024  2023 Deferred tax assets:             Reserve for Credit Loss $624,000  $418,000 Inventory Reserve  308,000   27,000 Accrued Vacation  78,000   53,000 Warranty Reserve  8,000   8,000 Intangible Assets  98,000   181,000 Allowance for Sales Returns  64,000   - Capitalized R&D  175,000   148,000 Stock-Based Compensation  1,278,000   1,246,000 Operating lease right-of-use liabilities  180,000   212,000 Net operating losses  6,100,000   5,568,000 Valuation Allowance  (8,678,000)  (7,539,000)Deferred Tax Assets  235,000   322,000          Deferred tax liabilities:        Operating lease right-of-use assets  (158,000)  (189,000)Property and Equipment  (77,000)  (133,000)   (235,000)  (322,000)         Net Deferred Tax Assets and Liabilities $-  $-  Deferred income tax assets and liabilities are determined based on differences between the financial statement reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws in effect when the differences are expected to reverse. The measurement of