Company: TOGIW
Filing Date: 2025-05-16
Form Type: 10-Q
Source: 0001214659-25-007984
Chunk: 2

Company: TurnOnGreen, Inc.
Filing Date: 2025-05-16
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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, or if available, on terms acceptable to the Company. The condensed consolidated financial
statements of the Company do not include any adjustments relating to the recoverability and classification of recorded assets, or the
amounts and classifications of liabilities that might be necessary should the Company be unable to continue as a going concern.

3. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited condensed consolidated
financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“ GAAP”), the instructions to Form 10-Q and Regulation S-X and do not include all the information and disclosures
required by GAAP. The Company has made estimates and judgments affecting the amounts reported in the Company’s condensed
consolidated financial statements and the accompanying notes. The actual results experienced by
the Company may differ materially from the Company’s estimates. The condensed consolidated financial information is unaudited
and reflects all normal adjustments that are, in the opinion of management, necessary to provide a fair statement of results for interim
periods presented. These condensed consolidated financial statements should be read in conjunction
with the Company’s Annual Report on Form 10-Kfiled with the SEC on April 23, 2025.

Significant Accounting Policies

There have been no material
changes to the Company’s significant accounting policies previously disclosed in the Company’s
Annual Report on Form 10-Kfiled with the SEC on April 23, 2025.

The Company does not expect that any recently
issued accounting guidance will have a significant effect on its condensed consolidated financial statements.

4. REVENUE DISAGGREGATION

The Company’s disaggregated revenues consisted
of the following:

  Schedule of disaggregated revenues                                                                                      
                                            For the Three Months Ended March 31,                                          
                                            2025                                                     2024                 
  Primary Geographical Markets                                                                                            
  North America                             $                                         1,528,000      $         1,157,000  
  Other                                                                                  64,000                   68,000  
  Total Revenue                             $                                         1,592,000      $         1,225,000  
  Major Goods                                                                                                             
  Power supply units                        $                                         1,273,000      $         1,141,000  
  EV chargers                                                                           319,000                   84,000  
  Total Revenue                             $                                         1,592,000      $         1,225,000