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

Company: TurnOnGreen, Inc.
Filing Date: 2025-04-23
Form: 10-K
Item: Item 1A
Chunk 23
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, we must add new customers
for our products in addition to retaining and increasing sales to our current customers. Currently, we have a limited sales force focused
on establishing relationships with customers that we expect to expand over time. We have historically relied on key executives to drive
growth through return business with existing customers. Building out marketing, business development and sales functions in all operating
subsidiaries is critical to drive significant growth in line with our strategic plans. We plan to contract for marketing services to improve
our websites, manage public relations and optimize our social media presence. Failure to recruit and retain the business development and
sales personnel to execute on outreach and capture of new business, or the failure of those new hires or marketing services to perform
as expected, will limit our ability to achieve our growth targets.

The sale of our products is dependent upon
our ability to satisfy the proprietary requirements of our customers.

We depend upon a relatively narrow range of products
for the majority of our revenue. Our success in marketing our products is dependent upon their continued acceptance by our customers.
In some cases, our customers require that our products meet their own proprietary requirements. If we are unable to satisfy such requirements,
or forecast and adapt to changes in such requirements, our business could be materially harmed.

We depend upon a few major customers for a
majority of our revenues, and the loss of any of these customers, or the substantial reduction in the quantity of products that they purchase
from us, would significantly reduce our revenues.

We currently depend upon a few major OEMs and
other customers for a significant portion of our revenues. Given the nascent stage of the industry, a limited number of contractual commercial
customers and OEM partners currently account for a substantial portion of our income. Our operating projections are currently contingent
on our performance under our commercial contracts with, medical and healthcare, defense and aerospace, and industrial and telecommunications
customers. We expect that a majority of our sales outside of our new eMobility market may continue to come from a concentrated number
of commercial customers and OEM partners. We expect a substantial portion of our revenues in the near future to be from our eMobility
market and as a result, to be subject to any risks specific to those entities and the jurisdictions and markets in which they operate,
including their ability to develop a portfolio of EV charging infrastructure models and attract customers for those models. We may be
unable to accomplish our business plan to diversify and expand our customer and OEM partner base by attracting a broad array of customers