Company: TOMZ
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001654954-25-013088
Chunk: 23

Company: TOMI Environmental Solutions, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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audited)  2024 Weighted-average remaining lease term:    Operating leases 3.25 years  4.00 years Discount rate:      Operating leases  7.00%  7.00% Supplemental cash flow information related to leases where we are the lessee is as follows:   For the three months ended  For the nine months ended   September 30, (Unaudited)  September 30, (Unaudited)   2025  2024  2025  2024 Cash Paid for amounts included in            the measurement of lease liabilities $42,825  $41,577  $126,395  $123,521 

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As of September 30, 2025, the maturities of our operating lease liability are as follows:   Operating Year Ended: Lease October 1 - December 31, 2025 $42,825 December 31, 2026  175,153 December 31, 2027  180,408 December 31, 2028  185,820 December 31, 2029  34,840 Total Minimum Lease Payments  619,046 Less: Interest  71,348 Imputed value of lease obligations  547,698 Less: Current portion  139,917 Long-term portion of lease obligations $407,781 

NOTE 8. CLOUD COMPUTING SERVICE CONTRACT In May 2020, we entered into a cloud computing service contract with a vendor which provided for annual payments in the amount of $30,409 and expired in May 2025. The annual contract payments were capitalized as a prepaid expense and amortized over a twelve-month period. We incurred implementation costs of $66,857 in connection with the cloud computing service contract which were capitalized in prepaid expenses and other assets as of December 31, 2024. In accordance with ASU No. 2018-15, such implementation costs were amortized over the remaining contract terms beginning January 1, 2021, which was when the cloud-based service contract was placed in service. Amortization expense for the three and nine months ended September 30, 2025, were $0 and $7,436, respectively. Amortization expense for