TOMI Environmental Solutions, Inc. Files 2023 Annual Report

TL;DR

<b>TOMI Environmental Solutions, Inc. filed its 2023 10-K report, detailing financial performance and corporate structure.</b>

AI Summary

TOMI Environmental Solutions, Inc. (TOMZ) filed a Annual Report (10-K) with the SEC on April 1, 2024. TOMI Environmental Solutions, Inc. reported its 2023 fiscal year-end results. The company's filing indicates a fiscal year ending on December 31, 2023. The filing is a Form 10-K, a comprehensive annual report required by the SEC. The company was formerly known as Ozone Man, Inc. and RPS GROUP INC. The filing details various stock option grants and warrants as of December 31, 2023.

Why It Matters

For investors and stakeholders tracking TOMI Environmental Solutions, Inc., this filing contains several important signals. This 10-K filing provides a detailed overview of TOMI Environmental Solutions' financial health, operational activities, and strategic positioning for the fiscal year 2023. Investors and stakeholders can use this report to assess the company's performance, identify potential risks, and make informed investment decisions based on the disclosed financial data and business operations.

Risk Assessment

Risk Level: medium — TOMI Environmental Solutions, Inc. shows moderate risk based on this filing. The filing is a standard 10-K, which provides a comprehensive overview but does not contain immediate red flags or significant positive news, indicating a need for deeper analysis of the detailed financial statements and business segments.

Analyst Insight

Review the detailed financial statements within the 10-K to understand revenue trends, profitability, and debt levels for TOMI Environmental Solutions, Inc.

Key Numbers

• 2023-12-31 — Fiscal Year End (TOMI Environmental Solutions, Inc.)
• 2024-04-01 — Filing Date (TOMI Environmental Solutions, Inc.)
• 10-K — Form Type (TOMI Environmental Solutions, Inc.)
• 001-39574 — SEC File Number (TOMI Environmental Solutions, Inc.)

Key Players & Entities

• TOMI Environmental Solutions, Inc. (company) — Filer name
• Ozone Man, Inc. (company) — Former company name
• RPS GROUP INC (company) — Former company name
• DAUPHIN INC (company) — Former company name
• Elissa J Shane (person) — Executive mentioned in agreements

FAQ

Industry Context

TOMI Environmental Solutions, Inc. operates in the industrial organic chemicals sector, focusing on environmental solutions.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, requiring annual filings like the 10-K.

What Investors Should Do

1. Analyze the revenue and profitability figures for fiscal year 2023.
2. Investigate any disclosed executive agreements or compensation details.
3. Examine the details of stock options and warrants mentioned in the filing.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-04-01: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial analysis of the 2023 10-K filing; a comparison to the previous year's filing would require access to that document.

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share TOMZ The Nasdaq Capital M

Filing Documents

• tomz_10k.htm (10-K) — 1535KB
• tomz_ex211.htm (EX-21.1) — 1KB
• tomz_ex311.htm (EX-31.1) — 6KB
• tomz_ex312.htm (EX-31.2) — 8KB
• tomz_ex321.htm (EX-32.1) — 4KB
• 0001654954-24-004045.txt (&nbsp;) — 6741KB
• tomz-20231231.xsd (EX-101.SCH) — 58KB
• tomz-20231231_lab.xml (EX-101.LAB) — 377KB
• tomz-20231231_cal.xml (EX-101.CAL) — 56KB
• tomz-20231231_pre.xml (EX-101.PRE) — 309KB
• tomz-20231231_def.xml (EX-101.DEF) — 144KB
• tomz_10k_htm.xml (XML) — 1070KB

Risk Factors

Risk Factors 17 1B. Unresolved Staff Comments 27 1C. Cybersecurity 27 2.

Legal Proceedings

Legal Proceedings 28 4. Mine Safety Disclosures 28 PART II 5. Market for Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities 29 6.

Selected Financial Data

Selected Financial Data 29 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 29 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 45 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 45 9A.

Controls and Procedures

Controls and Procedures 45 9B. Other Information 46 PART III 10. Directors, Executive Officers and Corporate Governance 47 11.

Executive Compensation

Executive Compensation 49 12.

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters 53 13. Certain Relationships and Related Transactions, and Director Independence 55 14. Principal Accounting Fees and Services 55 PART IV 15. Exhibits, Financial Statement Schedules 55

Signatures

Signatures 58 Exhibit Index 57

Financial Statements

Financial Statements F-1 2 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and we intend that such forward-looking statements be subject to the safe harbors created thereby. For this purpose, any statements contained in this Annual Report on Form 10-K, except for historical information, may be deemed to be forward-looking statements. You can generally identify forward-looking statements as statements containing the words "will," "would," "believe," "expect," "estimate," "anticipate," "intend," "assume," "can," "could," "plan," "predict," "should" or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to projections of our future financial performance, trends in our businesses, or other characterizations of future events or circumstances are forward-looking statements. The forward-looking statements included herein are based on current expectations of our management based on available information and involve a number of risks and uncertainties, all of which are difficult or impossible to predict accurately and many of which are beyond our control. As such, our actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors. Important factors that could affect our performance and cause results to differ materially from management's expectations are described in the section entitled "Risk Factors," Item 1A of this Annual Report on Form 10-K. These factors include: our history of losses that may prevent us from achieving profitability in the future; our lack of long-term customer contracts and our inability to rely on our sales history or backlog as an indicator of our future

BUSINESS

Item 1. BUSINESS Overview TOMI Environmental Solutions, Inc. ("TOMI," "we," "our," or the "Company") is a global leader in bacteria decontamination and infectious disease control, offering environmentally friendly solutions for indoor air and surface disinfection and decontamination. Our flagship product, SteraMist, uses our patented and registered Binary Ionization Technology ("BIT") to deliver a low-percentage (7.8%) hydrogen peroxide-based fog or mist to affect all indoor environments and surface areas. Developed under a grant from the United States Defense Advanced Research Projects Agency ("DARPA"), SteraMist generates ionized Hydrogen Peroxide ("iHP") using cold plasma science. BIT transforms a sole active ingredient hydrogen peroxide solution into iHP through a high voltage atmospheric cold plasma arc, producing submicron to 3-micron hydroxyl radical particles that effectively treat surfaces and environments with the same velocity and characteristics of a gas. Our innovative and novel process ensures eradication of pathogens with a 6-log (99.9999%) and greater kill rate, effectively leaving no harmful by-products lingering in the treated area. SteraMist's innovative methodology, inspired from atmospheric chemistry, not only guarantees effectiveness but also maintains a commitment to environmental sustainability by ensuring the only by-product from the process is oxygen and humidity, a complete package of benefits unmatched in its industry. We owe our success to the collaborative efforts of Titan Defense and DARPA who uncovered a superior technology that mimics nature's cleansing mechanism, bringing this natural phenomenon indoors providing a competitive edge that exceeds the capabilities of our competition in the healthcare disinfection, life sciences decontamination, and food safety sanitization markets. 4 Table of Contents The Science Behind the Technology Introducing a revolutionary approach to disinfection and decontamination, our technolog

View Full Filing

View this 10-K filing on SEC EDGAR