Company: TOMZ
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001654954-25-005288
Chunk: 17

Company: TOMI Environmental Solutions, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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 including purchases of inventory, employee compensation, depreciation, and amortization, within relevant income statement captions. This ASU also requires disclosure of the total amount of selling expenses along with the definition of selling expenses. The ASU is effective for annual periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Adoption of this ASU can either be applied prospectively to consolidated financial statements issued for reporting periods after the effective date of this ASU or retrospectively to any or all prior periods presented in the consolidated financial statements. Early adoption is also permitted. This ASU will likely result in the required additional disclosures being included in our consolidated financial statements, once adopted. We are currently evaluating the provisions of this ASU.

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NOTE 3. INVENTORIES Inventories consist of the following at (rounded to the nearest thousandth):   March 31, 2025(Unaudited)  December 31, 2024 Finished Goods $3,614,000  $3,800,000 Raw Materials  892,000   878,000 Inventory Reserve  (1,100,000)  (1,100,000)Total $3,406,000  $3,578,000 

NOTE 4. VENDOR DEPOSITS At March 31, 2025 and December 31, 2024, we maintained vendor deposits of $32,915 and $35,895, respectively, for open purchase orders for inventory. 

NOTE 5. PROPERTY AND EQUIPMENT Property and equipment consist of the following at:   March 31, 2025(Unaudited)  December 31, 2024 Furniture and fixtures $458,652  $458,652 Equipment  2,316,200   2,301,803 Vehicles  66,170   66,170 Computer and software  316,334   316,334 Leasehold improvements  393,381   393,381 Tenant Improvement Allowance    405,000   405,000 Total cost of property and equipment  3,955,737   3,941,340 Less: Accumulated depreciation  3,137,433   3,065,891 Property and Equipment, net $818,