Company: TOGIW
Filing Date: 2025-05-16
Form Type: 10-Q
Source: 0001214659-25-007984
Chunk: 8

Company: TurnOnGreen, Inc.
Filing Date: 2025-05-16
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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  Selling and marketing                             246,000          361,000      (115,000      -32  
  Research and development                          125,000          111,000        14,000       13  
  Total operating expenses                        1,140,000        1,224,000       (84,000       -7  
  Operating loss                                   (410,000         (666,000       256,000       38  
  Other expense:                                                                                     
  Interest expense, related party                   124,000           69,000        55,000       80  
  Interest expense                                    7,000                -         7,000        -  
  Total other expense                               131,000           69,000        62,000       90  
  Net loss                                         (541,000         (736,000       195,000       26  
  Preferred dividends                                     -         (500,000       500,000      100  
  Net loss available to common shareholders       $(541,000      $(1,236,000                         

  12  

Revenue and Gross (Loss) Profit

During the
three-month period ended March 31, 2025, we had increased revenues of $367,000 and increased gross profits of $172,000 compared to the
three-month period ended March 31, 2024, primarily due to increased sales of approximately $408,000from two
of our higher margin defense industry customers, and sales of $190,000 from a new EV customer somewhat offset by a decrease in sales of
$228,000 from our medical customers during the three-month period ended March 31, 2025, compared to the three-month period ended March
31, 2024. The increase in gross profit during the three-month period ended March 31, 2025, was also impacted by a reduction in obsolete
inventory expenses of $37,000 compared to the three months ended March 31, 2024.

Net Loss and Operating Expenses

During the
three months ended March 31, 2025, our net loss decreased by $195,000 compared to the three-month period ended March 31, 2024, primarily
due to the increase in gross profit as described above and the $115,000 decrease in selling and marketing expenses somewhat offset by
an increase in interest expenses of $62,000 compared to the three-month period ended March 31