Company: TOMZ
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001654954-25-009631
Chunk: 21

Company: TOMI Environmental Solutions, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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 the related patents. Trademarks have an indefinite life. Amortization expenses were $7,216 and $14,014 for the three and six months ended June 30, 2025, respectively. Amortization expenses were $4,878 and $9,755 for the three and six months ended June 30, 2024, respectively. Definite life intangible assets consist of the following:   June 30, 2025   December 31,     (Unaudited)  2024 Intellectual Property and Patents $3,383,532  $3,350,031 Less: Accumulated Amortization  2,944,336   2,930,321 Patents, net $439,196  $419,710  Indefinite life intangible assets consist of the following: Trademarks  861,825   830,864          Total Intangible Assets, net $1,301,021  $1,250,574  Approximate future amortization is as follows (rounded to nearest thousand): Year Ended:   July 1 - December 31, 2025 $14,000 December 31, 2026  28,000 December 31, 2027  28,000 December 31, 2028  28,000 December 31, 2029  28,000 Thereafter   313,000 Total $439,000 

NOTE 7. LEASES In April 2018, we entered into a 10-year lease agreement for a new 9,000-square-foot facility that contains office, warehouse, lab and research and development space in Frederick, Maryland. The lease agreement commenced in December 2018 when the property was ready for occupancy. The agreement provided for annual rent of $143,460, an escalation clause that increases the rent 3% year over year, a landlord tenant improvement allowance of $405,000 and additional landlord work as discussed in the lease agreement. We took occupancy of the property on December 17, 2018, and the lease was amended in June 2019 to provide for a 4-month rent holiday and a commencement date of April 1, 2019. A 7% discount rate was determined using our incremental borrowing rate based on the information available at adoption date in