TOMI ENVIRONMENTAL SOLUTIONS, INC.
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(Exact
name of registrant as specified in its charter)
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Florida
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59-1947988
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(State
or other jurisdiction of
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(I.R.S.
Employer Identification No.)
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incorporation
or organization)
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9454 Wilshire Blvd., Penthouse, Beverly Hills, CA
90212
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(Address
of principal executive offices) (Zip Code)
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(800) 525-1698
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(Registrant’s
telephone number, including area code)
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Not Applicable
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(Former
name, former address and former fiscal year, if changed since last
report)
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Title of each class
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Trading
Symbol(s)
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Name of each exchange on which registered
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Common
stock, par value $0.01 per share
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TOMZ
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OTC
Markets Group Inc.
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Large
accelerated filer ☐
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Accelerated
filer
☐
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Non-accelerated
filer ☐
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Smaller
reporting company ☒
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Emerging
growth company ☐
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QUARTERLY REPORT ON FORM 10-Q FOR THE QUARTER ENDED MARCH 31,
2020
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TABLE OF CONTENTS
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Page
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CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
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2
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FINANCIAL INFORMATION
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Financial
Statements.
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3
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Management’s
Discussion and Analysis of Financial Condition and Results of
Operations.
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24
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Quantitative
and Qualitative Disclosures About Market Risk.
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37
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Controls
and Procedures.
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37
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OTHER INFORMATION
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Legal
Proceedings.
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38
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Risk
Factors.
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38
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Unregistered
Sales of Equity Securities and Use of Proceeds.
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38
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Defaults
Upon Senior Securities.
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38
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Mine
Safety Disclosures.
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38
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Other
Information.
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38
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Exhibits.
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38
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39
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40
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ASSETS
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Current
Assets:
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March 31,
2020
(Unaudited)
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December
31,
2019
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Cash and Cash
Equivalents
|
$3,755,816
|
$897,223
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Accounts Receivable
- net
|
3,146,197
|
1,494,658
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Inventories (Note
3)
|
635,529
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2,315,214
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Vendor Deposits
(Note 4)
|
1,266,560
|
141,052
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Prepaid
Expenses
|
170,856
|
187,664
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Total
Current Assets
|
8,974,958
|
5,035,811
|
|
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Property and
Equipment – net (Note 5))
|
1,257,831
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1,367,864
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|
|
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Other
Assets:
|
|
|
Intangible Assets
– net (Note 6)
|
845,663
|
939,010
|
Operating Lease -
Right of Use Asset (Note - 7)
|
664,198
|
674,471
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Capitalized
Software Development Costs - net (Note 8)
|
83,803
|
94,278
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Other
Assets
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122,957
|
114,033
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Total
Other Assets
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1,716,621
|
1,821,792
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Total
Assets
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$11,949,410
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$8,225,467
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For The Three
Months Ended
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March
31,
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2020
|
2019
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|
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Sales,
net
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$7,053,418
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$1,252,658
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Cost
of Sales
|
2,565,410
|
493,310
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Gross
Profit
|
4,488,008
|
759,348
|
|
|
|
Operating
Expenses:
|
|
|
Professional
Fees
|
136,125
|
105,481
|
Depreciation
and Amortization
|
171,909
|
176,845
|
Selling
Expenses
|
378,645
|
441,671
|
Research
and Development
|
59,458
|
92,577
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Equity
Compensation Expense (Note 10)
|
182,772
|
80,917
|
Consulting
Fees
|
81,545
|
35,006
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General
and Administrative
|
818,145
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694,880
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Total Operating
Expenses
|
1,828,599
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1,627,377
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Income (loss) from
Operations
|
2,659,409
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(868,030)
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Other Income
(Expense):
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|
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Amortization
of Debt Discounts
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-
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(17,534)
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Interest
Income
|
542
|
1,030
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Interest
Expense
|
(40,689)
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(50,000)
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Total Other Income
(Expense)
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(40,147)
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(66,504)
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|
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Income (loss)
before income taxes
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2,619,261
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(934,532)
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Provision for Income
Taxes (Note 16)
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-
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-
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Net income
(loss)
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$2,619,261
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$(934,532)
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Net income (loss)
Per Common Share
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Basic
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$0.02
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$(0.01)
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Diluted
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$0.02
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$(0.01)
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|
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Basic Weighted
Average Common Shares Outstanding
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126,802,819
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124,659,307
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Diluted Weighted
Average Common Shares Outstanding
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144,941,677
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124,659,307
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TOMI ENVIRONMENTAL SOLUTIONS, INC.
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CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS’
EQUITY
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FOR THE THREE MONTHS ENDED MARCH 31, 2020
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(UNAUDITED)
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Series A
Preferred
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Common
Stock
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Additional
Paid
in
|
Accumulated
|
Total
Shareholders'
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||
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Shares
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Amount
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Shares
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Amount
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Capital
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Deficit
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Equity
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Balance
at December 31, 2019
|
510,000
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$5,100
|
124,700,418
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$1,247,004
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$43,136,683
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$(43,499,243)
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$889,543
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Equity
Compensation
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209,961
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209,961
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Common
Stock Issued for Services Provided
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400,000
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4,000
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44,000
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48,000
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Conversion
of Notes Payable into Common Stock
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|
|
8,333,332
|
83,333
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4,416,667
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|
4,500,000
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Warrants
exercised
|
|
|
83,333
|
833
|
56,667
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|
57,500
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Net
Income for the three months ended March 31, 2020
|
|
|
|
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|
2,619,261
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2,619,261
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Balance
at March 31, 2020
|
510,000
|
$5,100
|
133,517,083
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$1,335,170
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$47,863,978
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$(40,879,982)
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$8,324,265
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For the
Three Months Ended
March
31,
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2020
|
2019
|
Cash
Flow From Operating Activities:
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|
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Net
Income (Loss)
|
$2,619,261
|
$(934,532)
|
Adjustments
to Reconcile Net Income (Loss) to
|
|
.
|
Net
Cash Provided by (Used in) Operating Activities:
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|
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Depreciation
and Amortization
|
171,909
|
176,845
|
Amortization
of Lease Liability
|
39,329
|
39,644
|
Amortization
of Debt Discount
|
-
|
17,534
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Amortization
of Software Costs
|
10,475
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-
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Equity
Compensation Expense
|
182,772
|
80,917
|
Value
of Equity Issued for Services
|
48,000
|
44,000
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Reserve
for Bad Debt
|
25,000
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(105,000)
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Inventory
Reserve
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(100,000)
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-
|
Changes
in Operating Assets and Liabilities:
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|
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Decrease
(Increase) in:
|
|
|
Accounts
Receivable
|
(1,676,539)
|
222,922
|
Inventory
|
1,815,942
|
288,827
|
Prepaid
Expenses
|
16,807
|
6,792
|
Vendor Deposits
|
(1,125,508)
|
(79,275)
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Other
Assets
|
(8,924)
|
(64,914)
|
Increase
(Decrease) in:
|
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|
Accounts
Payable
|
118,955
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(475,851)
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Accrued
Expenses
|
232,813
|
225,072
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Accrued
Interest
|
(66,667)
|
(50,000)
|
Accrued
Officer Compensation
|
30,383
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(40,208)
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Customer
Deposits
|
1,017,533
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(1,486)
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Lease
Liability
|
(35,865)
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-
|
|
|
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Net
Cash Provided By (Used in) Operating Activities
|
3,315,678
|
(648,714)
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|
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Cash
Flow From Investing Activities:
|
|
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Capitalized
Software Costs
|
-
|
(125,704)
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Purchase
of Property and Equipment
|
(14,585)
|
(34,582)
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Net
Cash (Used in) Investing Activities
|
(14,585)
|
(160,286)
|
|
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The
accompanying notes are an integral part of the condensed
consolidated financial statements.
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|
For
the Three Months Ended March 31,
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|
Cash
Flow From Financing Activities:
|
2020
|
2019
|
Proceeds
from Exercise of Warrants
|
57,500
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-
|
Repayment
of Principal Balance on Convertible Note
|
(500,000)
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-
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Net
Cash Used in Financing Activities
|
(442,500)
|
-
|
Increase
(Decrease) In Cash and Cash Equivalents
|
2,858,594
|
(809,000)
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Cash
and Cash Equivalents - Beginning
|
897,223
|
2,004,938
|
Cash
and Cash Equivalents – Ending
|
$3,755,816
|
$1,195,938
|
|
|
|
Supplemental
Cash Flow Information:
|
|
|
Cash
Paid for Interest
|
$107,356
|
$100,000
|
Cash
Paid for Income Taxes
|
$-
|
$800
|
Non-Cash
Investing and Financing Activities:
|
|
|
Accrued
Equity Compensation
|
$27,189
|
$59,845
|
Conversion
of Note Payable into Common Stock
|
$4,500,000
|
$-
|
Equipment,
net Transferred to Inventory
|
$36,256
|
$-
|
|
For the
Three Months
|
|
|
Ended
March 31
|
|
|
(Unaudited)
|
|
|
2020
|
2019
|
Numerator:
|
|
|
Net
Income (Loss)
|
$2,619,261
|
$(934,532)
|
Denominator:
|
||
Basic
weighted-average shares
|
126,802,819
|
124,659,307
|
Effect
of dilutive securities
|
|
|
Warrants
|
16,798,858
|
-
|
Convertible
Debt
|
-
|
-
|
Options
|
830,000
|
-
|
Preferred
Stock
|
510,000
|
-
|
Diluted
Weighted Average Shares
|
144,941,677
|
124,659,307
|
|
|
|
Net
Income (Loss) Per Common Share:
|
|
|
Basic
|
$0.02
|
$(0.01)
|
Diluted
|
$0.02
|
$(0.01)
|
|
|
|
Income (loss) from Operations Data:
|
|
|
|
|
|
Income
(Loss) from Operations
|
$2,659,409
|
$(868,030)
|
Basic
and Diluted Weighted
|
|
|
Average
Shares
|
|
|
Basic
|
126,802,819
|
124,659,307
|
Diluted
|
144,941,677
|
124,659,307
|
Basic
and Diluted Income (loss) Per Common Share
|
|
|
Basic
|
$0.02
|
$(0.01)
|
Diluted
|
$0.02
|
$(0.01)
|
|
For the
three months ended March 31,
(Unaudited)
|
|
|
2020
|
2019
|
SteraMist
Product
|
$6,638,000
|
$1,029,000
|
Service
and Training
|
415,000
|
224,000
|
Total
|
$7,053,000
|
$1,253,000
|
|
For the
three months ended March 31,
(Unaudited)
|
|
|
2020
|
2019
|
United
States
|
$3,569,000
|
$1,136,000
|
International
|
3,484,000
|
117,000
|
Total
|
$7,053,000
|
$1,253,000
|
|
March
31,
2020 (Unaudited)
|
December
31,
2019
|
Finished
goods
|
$613,060
|
$2,364,786
|
Raw
Materials
|
22,469
|
50,428
|
Inventory
Reserve
|
-
|
(100,000)
|
|
$635,529
|
$2,315,214
|
|
March
31,
2020
(Unaudited)
|
December
31,
2019
|
Furniture
and fixtures
|
$357,236
|
$357,236
|
Equipment
|
1,292,860
|
1,355,014
|
Vehicles
|
60,703
|
60,703
|
Computer
and software
|
181,182
|
166,598
|
Leasehold
improvements
|
362,898
|
362,898
|
Tenant
Improvement Allowance
|
405,000
|
405,000
|
|
2,659,880
|
2,707,449
|
Less:
Accumulated depreciation
|
1,402,049
|
1,339,585
|
|
$1,257,831
|
$1,367,864
|
|
March
31,
2020
(Unaudited)
|
December
31,
2019
|
Intellectual
Property and Patents
|
$2,906,507
|
$2,906,507
|
Less: Accumulated
Amortization
|
2,573,101
|
2,479,754
|
Intangible Assets,
net
|
$333,406
|
$426,753
|
Trademarks
|
$512,257
|
$512,257
|
|
|
|
Total Intangible
Assets, net
|
$845,663
|
$939,010
|
Year
Ended:
|
Amount
|
April 1 –
December 31, 2020
|
$279,000
|
December 31,
2021
|
3,000
|
December 31,
2022
|
3,000
|
December 31,
2023
|
3,000
|
December 31,
2024
|
3,000
|
Thereafter
|
42,000
|
|
$333,000
|
Operating leases:
|
March
31, 2020 (Unaudited)
|
December
31, 2019
|
Assets:
|
|
|
Operating
lease right-of-use asset
|
$664,198
|
$674,471
|
Liabilities:
|
|
|
Current
Portion of Long-Term Operating Lease
|
$73,851
|
$71,510
|
Long-Term
Operating Lease, Net of Current Portion
|
1,015,465
|
1,034,413
|
|
$1,089,316
|
$1,105,923
|
|
Three
Months Ended March 31, 2020
(Unaudited)
|
Three
Months Ended March 31, 2019
(Unaudited)
|
|
|
|
Operating
lease expense
|
$39,329
|
$39,644
|
|
|
|
|
March
31, 2020 (Unaudited)
|
December
31, 2019
|
Weighted-average
remaining lease term:
|
|
|
Operating
leases
|
9.00 years
|
9.25 years
|
|
|
|
Discount
rate:
|
|
|
Operating
leases
|
7.00%
|
7.00%
|
|
Three
Months Ended March 31, 2020
(Unaudited)
|
Three
Months Ended March 31, 2019
(Unaudited)
|
Cash
paid for amounts included in the measurement of lease
liabilities:
|
$35,865
|
$-
|
Year
Ended:
|
Operating
Lease
|
April 1 –
December 31, 2020
|
$110,823
|
December
31, 2021
|
151,088
|
December
31, 2022
|
155,621
|
December
31, 2023
|
160,290
|
December
31, 2024
|
165,098
|
Thereafter
|
745,183
|
Total
minimum lease payments
|
1,488,103
|
Less:
Interest
|
398,787
|
Present
value of lease obligations
|
1,089,316
|
Less:
Current portion
|
73,851
|
Long-term
portion of lease obligations
|
$1,015,465
|
|
March
31, 2020
|
|
|
(Unaudited)
|
December
31, 2019
|
Capitalized
Software Development Costs
|
$125,704
|
$125,704
|
Less:
Accumulated Amortization
|
(41,901)
|
(31,426)
|
|
$83,803
|
$94,278
|
|
March
31, 2020 (Unaudited)
|
December
31,
|
Convertible
notes
|
$-
|
$5,000,000
|
Initial
discount
|
-
|
(53,873)
|
Accumulated
amortization
|
-
|
53,873
|
Convertible
notes, net
|
$-
|
$5,000,000
|
|
March
31, 2020
(Unaudited)
|
December
31, 2019
|
||
|
Number
of Options
|
Weighted
Average Exercise Price
|
Number
of Options
|
Weighted
Average Exercise Price
|
Outstanding,
beginning of period
|
620,000
|
$0.32
|
320,000
|
$0.52
|
Granted
|
250,000
|
0.11
|
300,000
|
0.11
|
Exercised
|
-
|
-
|
-
|
-
|
Expired
|
(40,000)
|
2.10
|
—
|
—
|
Outstanding,
end of period
|
830,000
|
$0.17
|
620,000
|
$0.32
|
|
March
31, 2020
(Unaudited)
|
December
31, 2019
|
||
|
Number
of Warrants
|
Weighted
Average Exercise Price
|
Number
of Warrants
|
Weighted
Average Exercise Price
|
Outstanding,
beginning of period
|
17,240,523
|
$0.39
|
26,550,611
|
$0.34
|
Granted
|
1,441,667
|
0.12
|
1,300,000
|
0.11
|
Exercised
|
(83,333)
|
(0.69)
|
-
|
-
|
Expired
|
(1,799,999)
|
(0.47)
|
(10,610,088)
|
(0.23)
|
Outstanding,
end of period
|
16,798,858
|
$0.36
|
17,240,523
|
$0.39
|
Outstanding
Warrants
|
|
Exercisable
Warrants
|
||
Exercise
Price
|
Number
|
Average
Weighted
Remaining
Contractual
Life in
Years
|
Number
|
Weighted
Average
Exercise
Price
|
$0.08
|
250,000
|
3.65
|
250,000
|
$0.08
|
$0.10
|
1,265,000
|
3.51
|
1,265,000
|
$0.10
|
$0.12
|
3,791,667
|
2.69
|
3,791,667
|
$0.12
|
$0.14
|
50,000
|
4.05
|
50,000
|
$0.14
|
$0.15
|
1,400,000
|
4.63
|
1,400,000
|
$0.15
|
$0.17
|
10,000
|
2.57
|
10,000
|
$0.17
|
$0.27
|
250,000
|
1.75
|
250,000
|
$0.27
|
$0.29
|
4,615,525
|
1.91
|
4,615,525
|
$0.29
|
$0.30
|
1,200,000
|
0.89
|
1,200,000
|
$0.30
|
$0.32
|
250,000
|
1.50
|
250,000
|
$0.32
|
$0.42
|
250,000
|
1.25
|
250,000
|
$0.42
|
$0.50
|
250,000
|
1.00
|
250,000
|
$0.50
|
$0.55
|
100,000
|
0.83
|
100,000
|
$0.55
|
$0.69
|
116,666
|
0.10
|
116,666
|
$0.69
|
$1.00
|
3,000,000
|
0.09
|
3,000,000
|
$1.00
|
|
16,798,858
|
2.01
|
16,798,858
|
$0.36
|
|
|
|
|
March
31, 2020
(Unaudited)
|
December
31, 2019
|
Commissions
|
$237,466
|
$112,102
|
Payroll
and related costs
|
224,752
|
167,689
|
Director
fees
|
41,250
|
41,250
|
Sales
Tax Payable
|
27,810
|
21,814
|
Accrued
warranty (Note 14)
|
60,000
|
30,000
|
Other
accrued expenses
|
64,458
|
77,257
|
Total
|
$655,736
|
$450,112
|
|
March
31, 2020
(Unaudited)
|
December
31, 2019
|
Beginning
accrued warranty costs
|
$30,000
|
$30,000
|
Provision for
warranty expense
|
31,864
|
2,609
|
Settlement of
warranty claims
|
(1,864)
|
(2,609)
|
Ending
accrued warranty costs
|
$60,000
|
$30,000
|
|
March 31, 2020
(Unaudited)
|
December 31,
2019
|
Total
shareholders’ equity
|
$8,324,000
|
$890,000
|
Cash and cash
equivalents
|
$3,756,000
|
$897,000
|
Accounts
receivable, net
|
$3,146,000
|
$1,495,000
|
Inventories,
net
|
$636,000
|
$2,315,000
|
Prepaid
expenses
|
$171,000
|
$188,000
|
Vendor
Deposits
|
$1,267,000
|
$141,000
|
Current liabilities
(excluding convertible notes)
|
$2,610,000
|
$1,302,000
|
Convertible notes
payable, net
|
$-
|
$5,000,000
|
Long-term
liabilities
|
$1,015,000
|
$1,034,000
|
Working Capital
(excluding convertible notes)
|
$6,365,000
|
$3,734,000
|
Working Capital
(including convertible notes)
|
$6,365,000
|
$(1,266,000)
|
|
Three Months
Ended
|
Three Months
Ended
|
|
March
31,
2020
(Unaudited)
|
March
31,
2019
(Unaudited)
|
|
|
|
Revenue,
Net
|
$7,053,000
|
$1,253,000
|
Gross
Profit
|
$4,488,000
|
$759,000
|
Total Operating
Expenses (1)
|
$1,829,000
|
$1,627,000
|
Income (Loss) from
Operations
|
$2,659,000
|
$(868,000)
|
Total Other Income
(Expense)
|
$(40,000)
|
$(67,000)
|
Net Income
(Loss)
|
$2,619,000
|
$(935,000)
|
Basic Net Income
(Loss) per share
|
$0.02
|
$(0.01)
|
Diluted Net Income
(Loss) per share
|
$0.02
|
$(0.01)
|
|
For the
three months ended March 31,
(Unaudited)
|
|
|
2020
|
2019
|
SteraMist
Product
|
$6,638,000
|
$1,029,000
|
Service
and Training
|
415,000
|
224,000
|
Total
|
$7,053,000
|
$1,253,000
|
|
For the
three months ended March 31,
(Unaudited)
|
|
|
2020
|
2019
|
United
States
|
$3,569,000
|
$1,136,000
|
International
|
3,484,000
|
117,000
|
Total
|
$7,053,000
|
$1,253,000
|
|
For the
three months ended March 31,
(Unaudited)
|
|
|
2020
|
2019
|
SteraMist
Product
|
$6,638,000
|
$1,029,000
|
Service
and Training
|
415,000
|
224,000
|
Total
|
$7,053,000
|
$1,253,000
|
|
For the
three months ended March 31,
(Unaudited)
|
|
|
2020
|
2019
|
United
States
|
$3,569,000
|
$1,136,000
|
International
|
3,484,000
|
117,000
|
Total
|
$7,053,000
|
$1,253,000
|
|
TOMI ENVIRONMENTAL SOLUTIONS, INC. |
|
|
|
|
|
|
Date: May 14,
2020
|
By:
|
/s/ Halden S.
Shane
|
|
|
|
Halden S.
Shane
|
|
|
|
Chief
Executive Officer
(Principal
Executive Officer)
|
|
|
|
|
|
Date:
May 14,
2020
|
By:
|
/s/
Nick
Jennings
|
|
|
|
Nick
Jennings
|
|
|
|
Chief
Financial Officer (Principal
Financial Officer and Principal Accounting Officer)
|
|
|
|
|
|
Incorporated by Reference
|
|
Filed
Herewith
|
||||||
Exhibit Number
|
|
Exhibit Description
|
|
Form
|
|
File No.
|
|
Exhibit
|
|
Filing
Date
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PPP
Note
|
|
|
|
|
|
|
|
|
|
X
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Certification
of Halden S. Shane, Chief Executive Officer, pursuant to Rule
13a-14(a)/15d-14(a), as adopted pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002.
|
|
|
|
|
|
|
|
|
|
X
|
|
|
|
|
|
|
|
|
||||||
|
Certification
of Nick Jennings, Chief Financial Officer, pursuant to
Rule 13a-14(a)/15d-14(a), as adopted pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
|
|
|
|
|
|
X
|
|
|
|
|
|
|
|
|
||||||
32.1#
|
|
Certification
of Halden S. Shane, Chief Executive Officer, pursuant to 18 U.S.C.
Section 1350, as adopted pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002.
|
|
|
|
|
|
|
|
|
|
X
|
|
|
|
|
|
|
|
||||||
32.2#
|
|
Certification
of Nick Jennings, Chief Financial Officer, pursuant to 18 U.S.C.
Section 1350, as adopted pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002.
|
|
|
|
|
|
|
|
|
|
X
|
|
|
|
|
|
|
|
||||||
101.INS
|
|
XBRL
Instance Document.
|
|
|
|
|
|
|
|
|
|
X
|
|
|
|
|
|
|
|
||||||
101.SCH
|
|
XBRL
Taxonomy Extension Schema Document.
|
|
|
|
|
|
|
|
|
|
X
|
|
|
|
|
|
|
|
||||||
101.CAL
|
|
XBRL
Taxonomy Extension Calculation Linkbase Document.
|
|
|
|
|
|
|
|
|
|
X
|
|
|
|
|
|
|
|
||||||
101.DEF
|
|
XBRL
Taxonomy Extension Definition Linkbase Document.
|
|
|
|
|
|
|
|
|
|
X
|
|
|
|
|
|
|
|
||||||
101.LAB
|
|
XBRL
Taxonomy Extension Labels Linkbase Document.
|
|
|
|
|
|
|
|
|
|
X
|
|
|
|
|
|
|
|
||||||
101.PRE
|
|
XBRL
Taxonomy Extension Presentation Linkbase Document.
|
|
|
|
|
|
|
|
|
|
X
|
SBA
Loan #
|
62271270-08
|
SBA
Loan Name
|
TOMI
ENVIRONMENTAL SOLUTIONS, INC.
|
Date
|
April
21, 2020
|
Loan
Amount
|
Four
Hundred Ten Thousand Seven Hundred Dollars ($410,700 )
|
Interest
Rate
|
1.00%
per annum
|
Borrower
|
TOMI
Environmental Solutions, Inc., a Florida Corporation
|
Operating
Company
|
N/A
|
Lender
|
City
National Bank
|
/s/
HALDEN S.
SHANE
|
Halden
S. Shane
Chief
Executive Officer
(Principal
Executive Officer)
|
/s/ NICK
JENNINGS
|
Nick
Jennings,
Chief
Financial Officer
(Principal
Financial Officer and Principal Accounting Officer)
|
/s/ HALDEN
S.
SHANE
|
Halden
S. Shane
Chief
Executive Officer
(Principal
Executive Officer)
|
/s/ NICK
JENNINGS
|
Nick
Jennings
Chief
Financial Officer
(Principal
Financial Officer and Principal Accounting Officer)
|