Company: TOGIW
Filing Date: 2025-04-23
Form Type: 10-K
Source: 0001214659-25-006296
Chunk: 35

Company: TurnOnGreen, Inc.
Filing Date: 2025-04-23
Form: 10-K
Item: Item 1A
Chunk 35
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 Many of these competitors may have substantially
greater financial, marketing and development resources and other capabilities than us. In addition, there are very few barriers to entry
into the market for our services. There can be no assurance, therefore, that any of our current and future competitors, many of whom
may have far greater resources, will not independently develop services that are substantially equivalent or superior to our services.
Therefore, an investment in our company is very risky and speculative due to the competitive environment in which we may operate.

  19  

Our competitors may be able to provide customers
with different or greater capabilities or benefits than we can provide in areas such as technical qualifications, past contract performance,
geographic presence and driver price. Further, many of our competitors may be able to utilize substantially greater resources and economies
of scale to develop competing products and technologies, divert sales away from us by winning broader contracts or hire away our employees
by offering more lucrative compensation packages.

Our business is subject
to risks associated with construction, cost overruns and delays, and other contingencies that may arise in the course of completing installations,
and such risks may increase in the future as we expand the scope of such services with other parties.

We do not typically install
charging stations at customer sites. These installations are often performed by our partners or electrical contractors with an existing
relationship with the customer and/or knowledge of the site. The installation of charging stations at a particular site is generally subject
to oversight and regulation in accordance with state and local laws and ordinances relating to building codes, safety, environmental protection
and related matters, and frequently requires various local and other governmental approvals and permits that may vary by jurisdiction.
In addition, building codes, accessibility requirements or regulations may hinder EV charger installation because they end up costing
the developer or installer more in order to meet the code requirements. Meaningful delays or cost overruns may impact our recognition
of revenue in certain cases and/or impact customer relationships, either of which could impact our business and profitability.

Further, we may install
charging stations at customer sites or manage contractors, primarily as part of offering customers a turnkey solution. Working with contractors
may require us to obtain licenses or require us or our customers to comply with additional rules, working conditions and other union requirements,
which can add costs and complexity to an installation project. In addition, if these contractors are unable to provide timely, thorough
and quality installation-related services, customers could fall behind their construction schedules
leading to liability or cause customers to become dissatisfied with