Company: TOGIW
Filing Date: 2025-04-23
Form Type: 10-K
Source: 0001214659-25-006296
Chunk: 22

Company: TurnOnGreen, Inc.
Filing Date: 2025-04-23
Form: 10-K
Item: Item 1A
Chunk 22
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 in developing new offerings and technologies or to adapt or
modify our existing offerings and technologies, including through internal product design and development, strategic acquisitions and
joint ventures or other arrangements. However, these efforts may be more costly than we anticipate and there can be no assurance that
they will be successful.

To the extent our customers adopt such new technology
in place of our products, the sales of our products may be adversely affected. Such competition may also increase pricing pressure for
our products and adversely affect the revenues from such products.

Our future success depends upon our ability
to develop, and market differentiated, leading-edge power conversion products for larger customers as well as off-grid power generation
and distribution technologies, potentially contributing to lengthy product development and sales cycles that may result in significant
expenditures before revenues are generated.

The power system industry and the industries in
which many of our customers operate are characterized by intense competition, rapid technological change, quickened product obsolescence,
and price erosion for mature products, each of which could have an adverse effect on our results of operations. The development of new,
innovative products is often a complex, time-consuming and costly process involving significant investment in research and development,
with no assurance of return on investment. Although we have introduced many products over recent years, there can be no assurance we will
be able to continue to develop and introduce new and improved products and power system concepts in a timely or efficient manner. Similarly,
there can be no assurance that recently introduced or to be developed products will achieve customer acceptance.

Our future success depends substantially upon
customer acceptance of our innovative products and services. As we have been in the early stages of market penetration for our EVSE infrastructure
and eMobility service, we have experienced lengthy periods during which we have focused our product development efforts on the specific
requirements of a limited number of large customers, followed by further periods of delay before meaningful purchase orders are received.
As a result, we may incur significant product development expenses, as well as significant sales and marketing expenses, before we generate
the related revenues for these products.

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We cannot offer any assurance that the markets
we currently serve will grow in the future, our power products, including EVSE infrastructure and services, will meet respective market
requirements, or we can maintain adequate gross margins or operating profits in these markets.

Our future results will depend on our ability
to maintain and expand our existing sales channels and to build out our marketing, business development and sales functions.

To grow our business