Company: TOMZ
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001654954-25-004233
Chunk: 716

Company: TOMI Environmental Solutions, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 2
Chunk 716
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21,000 

Professional fees are comprised mainly of legal, accounting, and financial consulting fees.

Professional fees were $597,000 and $576,000 for the years ended December 31, 2024 and 2023, respectively, representing an increase of approximately $21,000 in the current year period. The increase is attributable to higher accounting and legal fees in the current year period.

 35Table of Contents

Depreciation and Amortization

   For The Year Ended December 31,  Change    2024  2023  $  Depreciation and Amortization $297,000  $367,000  $(70,000)

Depreciation and amortization was approximately $297,000 and $367,000 for the years ended December 31, 2024 and 2023, respectively, representing a decrease of $70,000, or 19%.  The decrease in depreciation expense is due to a lower amount of fixed assets being depreciated in the current year period when compared to the same prior year periods.

Selling Expenses

   For The Year Ended December 31,  Change    2024  2023  $ Selling Expenses $1,128,000  $1,351,000  $(223,000)

Selling expenses for the year ended December 31, 2024 were approximately $1,128,000, as compared to $1,351,000 for the year ended December 31, 2023, representing a decrease of approximately $223,000, or 17%.  The decline in selling expenses is due to lower advertising costs and sales commission incurred in the current year period due to less sales generated by third party representatives.

Research and Development

   For The Year Ended December 31,  Change    2024  2023  $ Research and Development $291,000  $492,000  $(201,000)

Research and development expenses for the year ended December 31, 2024 were approximately $291,000, as compared to $492,000 for the year ended December 31, 2023, representing a decrease of approximately $201,000, or 41%.  The decline in research and development expenses is due to a planned reduction in the budget and cost-cutting measures.

Consulting Fees

   For The Year Ended December