Company: TOMZ
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001654954-25-004233
Chunk: 361

Company: TOMI Environmental Solutions, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 14
Chunk 361
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 a landlord tenant improvement allowance of $405,000 and additional landlord work as discussed in the lease agreement. We took occupancy of the property on December 17, 2018 and the lease was amended in March 2019 to provide for a 4-month rent holiday and a commencement date of April 1, 2019. A 7% discount rate was determined using our incremental borrowing rate based on the information available at adoption date in determining the present value of lease payments. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term. The balances for our operating lease where we are the lessee are presented as follows within our consolidated balance sheet: Operating leases: December 31,2024  December 31,2023  Assets:      Operating lease right-of-use asset $399,254  $467,935 Liabilities:        Current Portion of Long-Term Operating Lease $129,132  $115,658 Long-Term Operating Lease, Net of Current Portion  513,395   642,527 Total $642,527  $758,185  The components of lease expense are as follows within our consolidated statement of operations:   For the Year Ended December 31, 2024  For the Year Ended December 31, 2023        Operating lease expense $157,315  $157,315  Other information related to leases where we are the lessee is as follows:   December 31,2024  December 31,2023  Weighted-average remaining lease term:      Operating leases 4.00 years  5.00 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 Year Ended December 31, 2024  For the Year Ended December 31, 2023 Cash paid for amounts included in the measurement of lease liabilities: $165,098  $160,290  As of December 31, 2024, the maturities of our operating lease liability are as follows: Year Ended: Operating Lease December 31, 2025 $170,051 December 31, 2026  175,153 December