Company: TOMZ
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001654954-25-004233
Chunk: 411

Company: TOMI Environmental Solutions, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 15
Chunk 411
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 31,  December 31,   2024  2023        Income (Loss) before income tax $(4,476,762) $(3,402,592)US statutory corporate income tax rate  28%  28%Income tax expense computed at US statutory corporate income tax rate  (1,253,493)  (952,726)Reconciling items:        Change in valuation allowance on deferred tax assets  1,152,938   2,121,778 Provision to prior year tax return  68,437   (1,188,884)Meals and Entertainment  2,330   3,347 Other  29,788   16,485 Income tax expense (benefit) $-  $-  Components of our deferred income tax assets (liabilities) are as follows:   December 31,  December 31,   2024  2023 Deferred tax assets:             Reserve for Credit Loss $624,000  $418,000 Inventory Reserve  308,000   27,000 Accrued Vacation  78,000   53,000 Warranty Reserve  8,000   8,000 Intangible Assets  98,000   181,000 Allowance for Sales Returns  64,000   - Capitalized R&D  175,000   148,000 Stock-Based Compensation  1,278,000   1,246,000 Operating lease right-of-use liabilities  180,000   212,000 Net operating losses  6,100,000   5,568,000 Valuation Allowance  (8,678,000)  (7,539,000)Deferred Tax Assets  235,000   322,000          Deferred tax liabilities:        Operating lease right-of-use assets  (158,000)  (189,000)Property and Equipment  (77,000)  (133,000)   (235,000)  (322,000)         Net Deferred Tax Assets and Liabilities $-  $-  Deferred income tax assets and liabilities are determined based on differences between the financial statement reporting and tax bases of assets and liabilities and