Company: TOMZ
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001654954-25-005288
Chunk: 28

Company: TOMI Environmental Solutions, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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-X for the second, third and fourth quarters of 2020, and the first two quarters of 2021. As of March 31, 2025, we accrued for $394,581 and $60,429 in employee retention credits and related interest, respectively, which were received in April 2025. The total of $455,010 was recorded as Other Receivables on our condensed consolidated balance sheet (See Note 19).

NOTE 19. SUBSEQUENT EVENTS   In April 2025, pursuant to the SPA, we sold and issued convertible promissory notes to purchase an aggregate of 80,000 shares of common stock at an exercise price of $1.25 per share in exchange for aggregate gross proceeds of $100,000. (See Note 9 related to our convertible debt).  During April 2025, we received an additional $394,581 in employee retention credits (See Note 18), representing an aggregate of $534,912 year-to-date.

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2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

This Management’s Discussion and Analysis of Financial Condition and Results of Operations (this “MD&A”) and other parts of this Quarterly Report on Form 10-Q (“Form 10-Q”) contain forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that involve risks and uncertainties. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Forward-looking statements can also be identified by words such as “future,” “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “will,” “would,” “could,” “can,” “may,” and similar terms. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. Forward-looking statements are not guaranteeing future performance and the TOMI Environmental Solutions, Inc. (the “Company,” “TOMI,” “we,” and “our”) actual results may differ significantly from the results discussed in the forward-looking statements. Factors that might cause such differences include, but are not limited to, those discussed in Part I, Item 1A of the Company’s annual report on Form 10-K for the year ended December 31, 2024, filed with the U.S.