Company: TOMZ
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001654954-25-004233
Chunk: 56

Company: TOMI Environmental Solutions, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 1
Chunk 56
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 31, 2024 and 2023, respectively. 

Interest expense was $389,000 and $65,000 for the years ended December 31, 2024 and 2023, respectively.  The increase in interest expense is primarily attributable to the convertible notes which were outstanding for a full year in 2024 compared to the last fiscal quarter for 2023.

Provision for Income Taxes

    For The Years Ended December 31,  Change    2024  2023  $ Provision for Income Tax Expense (Benefit)   $-  $-  $- 

Provision for income tax was $0 for the years ended December 31, 2024 and 2023.

Liquidity and Capital Resources

As of December 31, 2024, we had cash and cash equivalents of approximately $665,000 and working capital of $3,772,000. Our principal capital requirements are to fund operations, invest in research and development and capital equipment, and the continued costs of compliance with public company reporting requirements. We have historically funded our operations through funds generated through operations and debt and equity financings. The sale of additional equity securities could result in dilution to our stockholders. The incurrence of indebtedness would result in increased debt service obligations and may include operating and financial covenants that would restrict our operations. We cannot be certain that any financing will be available in the amounts we need or on terms acceptable to us, if at all.

For the year ended December 31, 2024 and 2023, we incurred losses from operations of ($4,105,000) and ($3,349,000), respectively. Cash used in operations for the year ended December 31, 2024 and 2023, was ($1,440,000) and ($3,599,000), respectively.

A breakdown of our statement of cash flows for the year ended December 31, 2024 and 2023 is provided below:

   For the Year Ended December 31,   2024  2023  Net Cash (Used) in Operating Activities $(1,440,000) $(3,599,000) Net Cash (Used) in Investing Activities $(262,000) $(217,000) Net Cash Provided By Financing Activities: $27,500  $2,288,000 

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