Company: TOMZ
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001654954-25-005288
Chunk: 47

Company: TOMI Environmental Solutions, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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 office space.

 36Table of Contents

Other Income and Expense

   For The Three Months Ended March 31,    Change    2025  2024  $ Other Income  $535,000  $-  $535,000 Interest Income   83,000   10,000   73,000 Interest Expense  (119,000)  (94,000)  (25,000)Other Income (Expense) $499,000  $(84,000) $583,000 

Other income was approximately $535,000 and $0 for the three months ended March 31, 2025 and 2024.  Other income consisted of employee retention tax credits received and accrued for in the current year period. 

Interest income was approximately $83,000 and $10,000 for the three months ended March 31, 2025 and 2024.  The increase was due to interest income in connection with the employee retention tax credits received and accrued for in the current year period.

Interest expense was $119,000 and $94,000 for the three months ended March 31, 2025 and 2024, respectively. The increase in interest expense was due to issuance of additional convertible notes in the current year period.  

Provision for Income Taxes

  For The Three Months Ended March 31,    Change    2025  2024  $ Provision for Income Tax Expense (Benefit)   $-  $-  $- 

Provision for income tax was $0 for the three months ended March 31, 2025 and 2024.

Liquidity and Capital Resources

As of March 31, 2025, we had cash and cash equivalents of approximately $674,000 and working capital of $3,767,000. 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