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TOMI Environmental Solutions Announces 2nd Quarter Results

Fri. August 07, 2009; Posted: 09:29 AM
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BEVERLY HILLS, Calif., Aug 07, 2009 (BUSINESS WIRE) -- OZOM | Quote | Chart | News | PowerRating -- The Ozone Man, Inc. (OTCBB: OZOM), dba TOMI Environmental Solutions, or TOMIES, announced today financial results for the quarter ending June 30, 2009.

The Company recorded revenue of $212,697 for the 2nd quarter ending June 30th and recorded a net loss of ($617,417) or (0.02 loss per share). Prior to this quarter, the company was considered a development stage company and had no meaningful revenue.

Dr. Halden Shane, TOMI Environmental Solutions CEO, commented, "Our team has put almost two years into research, development and planning to get us to where we are today. We are excited about executing our business plan and beginning our revenue generation. We hope that increased market awareness to both the problem of indoor air quality and the environmentally friendly solutions we can provide will help accelerate this process. This quarter was filled with many achievements such as the alliance with Rolyn Companies who is a leading provider of disaster relief services nationwide and our recent agreement with Advanced Disinfection Technologies, LLC (ADTec), which allows us to offer a robust product line of cost-effective infection control at the hospital level. The market need for air remediation runs the gamut from hospitals, office buildings, schools and homes. Our goal is to educate Commercial and Residential property owners on the benefits of ozone, both economically and environmentally, and its use to destroy all viruses without chemicals or lingering byproducts.

About The Ozone Man, Inc. (TOMIES)

The Ozone Man (OTCBB: OZOM | Quote | Chart | News | PowerRating) is a leading provider of unique environmental services that are revolutionizing the way people worldwide will achieve a safe and healthy indoor environment. The Company owns and operates state-of-the-art, proprietary Ultraviolet Ozone (UV) Generators that produce one of the most powerful oxidizers and disinfectants available: ozone. The Ozone Man inspects, tests (on a DNA level) and treats indoor air using highly trained, certified technicians who are qualified to assess the air quality of homes, offices, or vehicles and to clean up the pollution. Compared to other existing methods of air purification, The Ozone Man system produces byproduct-free ozone with a high degree of safety and industry expertise. Additionally, to help maintain the clean environment after its deep cleaning, The Company offers its non-ozone producing UV germicidal accessories, the "Terminator" and "Silver Germicidal," that can be portable or permanently installed to maintain clean inside air. For more information, visit www.theozoneman.com.

"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

Certain written and oral statements made by us may constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). Forward-looking statements are identified by such words and phrases as "we expect," "expected to," "estimates," "estimated," "current outlook," "we look forward to," "would equate to," "projects," "projections," "projected to be," "anticipates," "anticipated," "we believe," "could be," and other similar phrases. All statements addressing operating performance, events, or developments that we expect or anticipate will occur in the future, including statements relating to revenue growth, earnings, earnings-per-share growth, or similar projections, are forward-looking statements within the meaning of the Reform Act. Because they are forward-looking, they should be evaluated in light of important risk factors that could cause our actual results to differ materially from our anticipated results. The information provided in this document is based upon the facts and circumstances known at this time. We undertake no obligation to update these forward-looking statements after the date of this release.

TOMI Environmental Solutions, Inc.
CONDENSED CONSOLIDATED BALANCE SHEET
                                                                    June 30, 2009         December 31, 2008
                                                                    (Unaudited)
ASSETS
Current Assets:
Cash and Cash Equivalents                                           $    1,583,282        $     367,697
Investments - Restricted, at cost                                        3,250,000              -
Accounts Receivable                                                      49,328                 4,590
Prepaids & Other Current Assets                                          13,674                 18,710
Total Current Assets                                                     4,896,284              390,997
Property and Equipment - net                                             342,528                372,990
Other Assets:
Intangible Assets, net                                                   108,323                111,100
Security Deposits                                                        6,630                  6,620
Total Other Assets                                                       114,953                117,720
TOTAL ASSETS                                                        $    5,353,765        $     881,707
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY)
Current Liabilities:
Accounts Payable and Accrued Expenses                               $    113,484          $     175,327
Accrued Officers Compensation                                            750,877                546,536
Notes Payable - Current Portion                                          46,277                 43,976
Obligations to be settled through issuance of common stock               250,000                -
Dividends Payable on Preferred Convertible Stock                         82,808                 90,667
Total Current Liabilities                                                1,243,446              856,506
Long-term Liabilities:
Non-Current Portion of Notes Payable - Other                             42,625                 66,365
Total Liabilities                                                        1,286,071              922,871
COMMITMENTS AND CONTINGENCIES
Stockholders' Equity (Deficiency):
Cumulative Convertible Series A Preferred Stock, $0.01 par value,        5,100                  5,100
1,000,000 shares authorized, 510,000 shares issued and outstanding
at June 30, 2009 and December 31, 2008.
Cumulative Convertible Series B Preferred Stock, $1,000 stated           3,250,000              -
value, 7.5% cumulative dividend, 4,000 shares authorized, 3,250
shares issued and outstanding at June 30, 2009 and none at
December 31, 2008.
Common Stock, $.01 par value, 75,000,000 shares authorized;              348,939                344,744
34,893,980 and 34,474,515 shares issued and outstanding at June
30, 2009 and December 31, 2008, respectively.
Additional Paid-in Capital                                               8,339,182              22,758,193
Accumulated Deficit                                                      (6,167,620 )           (23,149,201 )
Deferred compensation                                                    (1,707,907 )           -
Total Stockholders' Equity (Deficiency)                                  4,067,694              (41,164     )
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY)             $    5,353,765        $     881,707
TOMI Environmental Solutions, Inc.
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited)
                                                      For the               For the               For the              For the
                                                      Quarter Ended         Quarter Ended         Six Months Ended     Six Months Ended
                                                      June 30, 2009         June 30, 2008         June 30, 2009        June 30, 2008
Net Revenues                                          $    212,697          $    -                $     218,587        $     -
Cost of Sales                                              40,696                -                      40,696               -
Gross Profit                                               172,001               -                      177,891              -
Costs and Expenses:
Professional Fees                                          57,532                129,744                536,207              160,576
Other General and Administrative Expenses                  384,929               239,771                684,276              288,810
Management and Consulting Fees                             284,651               -                      (18,027,907 )        -
Total Costs and Expenses                                   727,112               369,515                (16,807,424 )        449,386
Income (Loss) from Operations                              (555,111   )          (369,515   )           16,985,315           (449,386   )
Other Income (Expenses):
Financing Costs                                            -                     (1,944     )           -                    (14,444    )
Interest income                                            980                   -                      1,516                -
Interest expense                                           (2,516     )          -                      (5,251      )        -
Total Other Income (Expenses)                              (1,536     )          (1,944     )           (3,735      )        (14,444    )
Net Income (Loss)                                     $    (556,647   )     $    (371,459   )     $     16,981,580     $     (463,830   )
Income (Loss) attributable to common stockholders
Net Income (Loss)                                     $    (556,647   )     $    (371,459   )     $     16,981,580     $     (463,830   )
Preferred stock dividend                                   60,770                -                      82,808               -
Income (Loss) attributable to common stockholders     $    (617,417   )     $    (371,459   )     $     16,898,772     $     (463,830   )
Net Income (Loss) per Common Share - Basic            $    (0.02      )     $    (0.01      )     $     0.49           $     (0.01      )
Net Income (Loss) per Common Share - Diluted          $    (0.02      )     $    (0.01      )     $     0.47           $     (0.01      )
Weighted Average Common Shares Outstanding - Basic         34,870,268            36,906,973             34,699,667           36,387,739
Weighted Average Common Shares Outstanding - Diluted       34,870,268            36,906,973             35,859,667           36,387,739

SOURCE: The Ozone Man, Inc.

The Ozone Man, Inc. 
Dr. Halden Shane, 310-275-2255
For full details for OZOM click here.

    


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