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

Company: TOMI Environmental Solutions, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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167  $2.18 $4.00   28,750   5.07   28,750  $4.00 $6.95   375,000   5.51   375,000  $6.95      2,604,388   3.60   2,604,388  $2.32  There were no unvested warrants outstanding as of March 31, 2025.

NOTE 11. COMMITMENTS AND CONTINGENCIES Legal Contingencies We may become a party to litigation in the normal course of business. In the opinion of management, there are no legal matters involving us that would have a material adverse effect upon our financial condition, results of operations or cash flows. In addition, from time to time, we may have to file claims against parties that infringe on our intellectual property. Product Liability As of March 31, 2025 and December 31, 2024, there were no claims against us for product liability.

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NOTE 12. CONTRACTS AND AGREEMENTS Consulting Agreement On December 16, 2024, the Board of Directors of the Company appointed Nick Jennings, former Chief Financial Officer of the Company, as Interim Chief Financial Officer.  The Company has entered into an offer letter with Mr. Jennings, pursuant to which Mr. Jennings will serve as the Interim Chief Financial Officer for a five-month period and will receive a fee of $15,000 per month. Director Compensation The annual fee to non-employee members of our Board is $48,000, to be paid in cash on a quarterly basis, with the exception of the audit committee chairperson, whose annual fee is $54,600, also to be paid in cash on a quarterly basis. Non-employee Director compensation also includes the annual issuance of our Common Stock.

NOTE 13. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES  Accrued expenses and other current liabilities consisted of the following at:   March 31, 2025(Unaudited)  December 31, 2024 Commissions $240,116  $187,151 Payroll and related costs   350,973   125,773 Director fees      75,300   37,650 Sales Tax Payable     5,099