$TOGI

TurnOnGreen, Inc.

CIK:0001349706|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 1,754,000	$ 1,692,000	$ 3,490,000	$ 3,284,000
Cost of revenue	933,000	1,011,000	1,856,000	1,873,000
Gross profit	821,000	681,000	1,634,000	1,411,000
Operating expenses:
General and administration	734,000	936,000	1,860,000	1,831,000
Selling and marketing	241,000	249,000	549,000	494,000
Total operating expenses	975,000	1,185,000	2,409,000	2,325,000
Operating loss	(154,000)	(504,000)	(775,000)	(914,000)
Other (income) expense:
Interest expense, related party	171,000	138,000	341,000	262,000
Interest expense	80,000	7,000	130,000	14,000
Change in fair value of embedded derivative liabilities	(59,000)		(127,000)
Total other expense	192,000	145,000	344,000	276,000
Loss before income taxes	(346,000)	(649,000)	(1,119,000)	(1,190,000)
Income tax provision	2,000	2,000	2,000	2,000
Net loss	$ (348,000)	$ (651,000)	$ (1,121,000)	$ (1,192,000)
Net loss per common share basic	$ (0.00)	$ (0.00)	$ (0.01)	$ (0.01)
Net loss per common share diluted	$ (0.00)	$ (0.00)	$ (0.01)	$ (0.01)
Weighted average common shares, basic	183,983,122	183,983,122	183,983,122	183,981,838
Weighted average common shares, diluted	183,983,122	183,983,122	183,983,122	183,981,838

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net (loss)	$ (1,121,000)	$ (1,192,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	17,000	39,000
Amortization of right-of-use assets	127,000	256,000
Amortization of debt discount	50,000
Inventory adjustment		41,000
Change in fair value of embedded derivative liabilities	(127,000)
Changes in operating assets and liabilities
Accounts receivable	(238,000)	234,000
Prepaid expenses and other assets	(1,283,000)	27,000
Inventory	(114,000)	(254,000)
Accounts payable	15,000	(566,000)
Customer advances	(112,000)	501,000
Accrued expenses, other current liabilities, and lawsuit liability	(80,000)	91,000
Operating lease liabilities and other liabilities	1,494,000	(292,000)
Net cash used in operating activities	(1,372,000)	(1,115,000)
Cash flows from investing activities:
Government grant related to equipment	49,000
Cash provided by investing activities	49,000
Cash flows from financing activities:
Proceeds from related party advances	545,000	1,292,000
Payments for related party advances	(226,000)
Proceeds from notes payable	1,000,000
Proceeds from exercise of warrants		3,000
Net cash provided by financing activities	1,319,000	1,295,000
Net decrease in cash and cash equivalents	(4,000)	180,000
Cash at beginning of period	65,000	27,000
Cash at end of period	61,000	207,000
Supplemental disclosures of cash flow information:
Cash paid during the period for interest	11,000
Cash paid during the period for income taxes	2,000
Non-cash investing and financing activities:
Recognition of new operating lease right-of-use assets and lease liabilities	$ 1,593,000

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Jun. 30, 2026	Dec. 31, 2025
CURRENT ASSETS
Cash and cash equivalents	$ 61,000	$ 65,000
Accounts receivable	1,672,000	1,434,000
Inventories	1,098,000	984,000
Prepaid expenses	75,000	90,000
TOTAL CURRENT ASSETS	2,906,000	2,573,000
Property and equipment, net	93,000	159,000
Right-of-use assets	1,466,000	45,000
Other noncurrent assets	200,000	450,000
TOTAL ASSETS	4,665,000	3,227,000
CURRENT LIABILITIES
Accounts payable, accrued expenses and other current liabilities	1,126,000	1,312,000
Convertible notes payable	1,480,000	557,000
Lawsuit liability	1,166,000	1,157,000
Operating lease liability, current	258,000	51,000
Related party notes and advances payable	8,173,000	7,854,000
TOTAL CURRENT LIABILITIES	12,203,000	10,931,000
LONG TERM LIABILITIES
Operating lease liability, non-current	1,247,000
Other long term liabilities	178,000	138,000
TOTAL LIABILITIES	13,628,000	11,069,000
REDEEMABLE CONVERTIBLE PREFERRED STOCK
Preferred stock series A subject to possible redemption, 50,000,000 shares authorized: 25,000 issued and outstanding at stated redemption value of $1,000 per share as of June 30, 2026, and December 31, 2025, respectively	25,000,000	25,000,000
SHAREHOLDERS’ DEFICIT:
Common Stock, par value $0.001 a share; 2,000,000,000 shares authorized as of June 30, 2026, and December 31, 2025: 183,983,122 shares issued and outstanding on June 30, 2026, and December 31, 2025	184,000	184,000
Additional paid-in capital	16,174,000	16,174,000
Accumulated deficit	(50,321,000)	(49,200,000)
TOTAL SHAREHOLDERS’ DEFICIT	(33,963,000)	(32,842,000)
TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND SHAREHOLDERS’ DEFICIT	$ 4,665,000	$ 3,227,000