Company: TOMZ
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001654954-25-005288
Chunk: 78

Company: TOMI Environmental Solutions, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 78
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 31,    Change    2025  2024  $ Consulting Fees  $103,000  $114,000  $(11,000)

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Consulting fees were $103,000 and $114,000 for the three months ended March 31, 2025 and 2024, respectively.  The decrease in consulting fees is due to termination of select external consulting agreements, with remaining consultants agreeing to reduce their consultant fees, as part of our cost-reduction measures implemented June 2024.

General and Administrative Expense

   For The Three Months Ended March 31,  Change    2025  2024  $ General and Administrative  $1,025,000  $1,151,000  $(126,000)

General and administrative expenses include salaries and payroll taxes, rent, insurance expense, utilities, office expense, product registration costs, equity compensation and credit loss expense.

General and administrative expenses were $1,025,000 and $1,151,000 for the three months ended March 31, 2025 and 2024, respectively, a decrease of $126,000 or 11% in the current period.  The decrease is attributable to the reduction in executive salaries and reduced overhead related to the closing of a satellite office space.

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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