Acquisitions and Mergers - The Company acquired Irwin Naturals for a total consideration of $42.5 million, funded by a new term loan of $29.75 million and a $6.0 million revolving line of credit[15]. - MusclePharm products, acquired on October 10, 2023, are marketed to a large customer base of athletes and active individuals[22]. - The company completed acquisitions of Mimi's Rock Corp., MusclePharm, and Irwin, which may require significant management attention and resources for successful integration[107][108]. - Merger and acquisition related expenses increased to $2,075 million for the year ended December 31, 2025, compared to $255 million for the same period in 2024, primarily due to transaction costs related to the Irwin acquisition[173]. Product Development and Sales - FitLife Brands launched 36 new products in 2025, including 20 completely new products and 16 reformulations, compared to 23 new products in 2024[27]. - The Company distributes over 100 different NDS Products to approximately 600 GNC franchise locations in the U.S. and additional locations internationally[17]. - Irwin Products are sold primarily through wholesale channels, with major customers including CVS, Walmart, Walgreens, and Costco Canada[35]. - The nutrition industry is highly competitive, with the Company focusing on product quality and innovation to differentiate itself from competitors[38]. - Changes in consumer preferences and behaviors are critical for the company's success, necessitating ongoing product development to meet evolving demands[64][67]. Financial Performance - Revenue for the year ended December 31, 2025 increased 26% to $81,458 million compared to $64,469 million for the year ended December 31, 2024, primarily due to the acquisition of Irwin[166]. - Net income for the year ended December 31, 2025, was $6,326 million, a 30% decrease from $8,984 million in 2024, mainly due to increased acquisition-related expenses and lower gross profit from certain Legacy FitLife brands[174]. - Adjusted EBITDA for the year ended December 31, 2025, was $14,006 million, slightly down from $14,125 million in 2024[189]. - The company has been profitable in 2024 and 2025, but failure to sustain profitability could result in net losses and negatively affect financial condition[83]. Debt and Financing - As of December 31, 2025, the company had approximately $44.7 million in total debt, which may increase due to future acquisitions[89]. - The company's ability to meet debt service obligations will depend on future performance, influenced by various external factors, including consumer preferences and competition[90]. - The Company entered into a new credit agreement on August 8, 2025, providing a five-year term loan of $40,625 million and a three-year revolving line of credit of up to $10,000 million, with proceeds used for the Irwin acquisition[196]. - The Credit Agreement requires maintaining a Senior Funded Debt to EBITDA Ratio of not more than 2.75 to 1.00 starting December 31, 2025[199]. Market and Competition - The company faces significant competition in the nutritional supplement market, with competitors having greater financial resources and established brands, which could pressure sales and profitability[56]. - The company is focusing on increasing direct-to-consumer sales through e-commerce platforms, particularly Amazon, to enhance revenue streams[62]. - Approximately 49% of total sales for the year ended December 31, 2025, were generated through Amazon's U.S. marketplace, while e-commerce channels contributed about 2%[57]. - Sales to GNC accounted for approximately 14% of total sales in 2025, down from 23% in 2024, with expectations of further decline in 2026 due to the acquisition of Irwin[60]. Operational and Compliance Issues - The Company operates under FDA regulations, ensuring compliance with current Good Manufacturing Practices (cGMPs) for product quality and safety[40]. - The company has implemented vendor qualification programs to ensure quality control and assurance in its supply chain[26]. - Legal and regulatory compliance costs may increase due to extensive laws affecting product manufacturing and sales, potentially impacting revenue[100]. - The company relies on third-party manufacturers for product quality, and any errors could lead to recalls and significant legal exposure[101]. Employee and Corporate Structure - As of December 31, 2025, the company had 81 full-time employees, an increase from 39 in 2024, primarily due to the acquisition of Irwin[51]. - The company is dependent on key personnel for business performance, and loss of such personnel could harm financial condition and operations[79]. Stock and Shareholder Information - The company's common stock began trading on the Nasdaq on September 18, 2023, and must continue to meet listing requirements to avoid delisting risks[109]. - The market price of the company's Common Stock ranged from a high of $20.76 to a low of $10.40 during the year ending December 31, 2025[111]. - The company has authorized the issuance of up to 10 million shares of Preferred Stock, with specific classes including 1,000 shares of Series A Preferred and 2,000 shares of Series B Junior Participating Preferred[113]. - The company has never paid cash dividends on its Common Stock and does not anticipate doing so in the foreseeable future[114]. Risk Factors - Adverse publicity regarding product safety and quality could significantly diminish public perception and demand, impacting revenue[74]. - Future outbreaks of COVID-19 or other illnesses could adversely affect operations and supply chains, impacting revenue[78]. - Economic conditions, including high inflation and recessions, may lead to reduced consumer spending and impact sales[86]. - Trade policies and tariffs could materially affect costs and availability of raw ingredients, impacting the company's business[88].

Financial Performance - For the year ended December 31, 2025, Fluent, Inc. recorded revenue of $208.8 million, a decrease from $254.6 million in 2024, with a net loss of $27.2 million compared to a net loss of $29.3 million in the previous year[214]. - Revenue decreased by 18% to $208.8 million in 2025, down from $254.6 million in 2024[242]. - Net loss for 2025 was $27.2 million, or $1.05 per share, compared to a net loss of $29.3 million, or $1.80 per share in 2024[242]. - Gross profit (exclusive of depreciation and amortization) decreased by 16% to $51.2 million, representing 25% of revenue in 2025, compared to $60.8 million, or 24% of revenue in 2024[242]. - Media margin decreased by 21% to $57.6 million, representing 27.6% of revenue in 2025, down from $72.5 million, or 28.5% of revenue in 2024[242]. - Adjusted EBITDA was negative $9.0 million in 2025, compared to negative $5.6 million in 2024[242]. - Adjusted net loss was $21.8 million, or $0.84 per share, compared to $18.5 million, or $1.14 per share in 2024[242]. Revenue Segments - Commerce Media Solutions represented approximately 39% of consolidated revenue in 2025, up from 16% in 2024, indicating significant growth in this segment[217]. - In 2025, Fluent served ads to over 200 million consumers, focusing on post-action and post-transaction moments, which resulted in higher return on advertising spend (ROAS) for clients[216]. - Revenue from owned and operated marketplaces decreased to $94.5 million in 2025 from $168.4 million in 2024, primarily due to reduced media supply[244]. - Commerce Media Solutions revenue increased to $82.3 million in 2025 from $41.3 million in 2024, driven by long-term contracts with new media partners[244]. - The company expects continued year-over-year declines in owned and operated marketplaces, but anticipates growth in Commerce Media Solutions to offset these declines[244]. Strategic Focus - Fluent's strategic focus is shifting towards scaling Commerce Media Solutions, reallocating resources to support this growth opportunity[222]. - The company anticipates that Commerce Media Solutions will represent a majority of consolidated revenue in 2026 as it continues to onboard additional media partners[217]. - The company shifted its strategic focus toward scaling its Commerce Media Solutions business, which operates under a different economic model that reduces exposure to media sourcing risks[269]. Cost Management - Cost of revenue (exclusive of depreciation and amortization) for 2025 was $193.8 million, a decrease of 19% from $157.5 million in 2024, with overall cost as a percentage of revenue decreasing to 75.5% from 76.1%[245][247]. - Sales and marketing expenses for 2025 were $14.5 million, down 16% from $17.3 million in 2024, primarily due to lower employee-related costs and a decline in headcount[249]. - Product development expenses decreased by 31% to $11.8 million in 2025 from $17.3 million in 2024, driven by lower salaries and reduced IT-related vendor spending[250]. - General and administrative expenses decreased by 8% to $34.7 million in 2025 from $37.7 million in 2024, mainly due to reduced salaries and benefits from lower headcount[251]. Cash Flow and Financing - Cash flows used in operating activities improved to $1.5 million in 2025 from $14.1 million in 2024, with adjustments remaining consistent at $18.1 million[264]. - Interest expense, net, decreased by 35% to $3.1 million in 2025 from $4.7 million in 2024, due to lower average outstanding balances and interest rates[256]. - Loss on early extinguishment of debt increased by 273% to $3.8 million in 2025 compared to $1.0 million in 2024, related to the SLR Credit Facility[258]. - The company expects a significant decrease in cost of revenue related to other business streams in 2026 as the Call Solutions business was sold[248]. - Net cash used in investing activities increased slightly to $6.4 million in 2025 from $6.2 million in 2024, primarily due to increased investment in capitalized software[265]. - Net cash provided by financing activities decreased by $4.4 million to $10.8 million in 2025, attributed to a net reduction of short and long-term debt of $6.4 million compared to a $2.8 million reduction in the prior year[266]. Operational Challenges - The company has faced challenges in maintaining traffic volume to its owned and operated (O&O) sites, primarily due to regulatory impacts and competition, leading to lower revenue and gross profit in this segment[220]. - The company experienced a decline in user registrations on its O&O Sites, which adversely affected revenue and profitability, and does not expect registration volume to return to prior levels[268]. - Current economic conditions, including inflation and reduced consumer confidence, have led to cautious spending by clients, impacting overall business performance[228]. - The performance of Fluent's business is subject to seasonality, particularly influenced by fourth-quarter consumer spending patterns[223]. Future Outlook - The commerce media market is projected to grow at a CAGR of 21% from 2023 to 2027, reaching a total market value of $100 billion by 2027, presenting a favorable environment for Fluent's strategic initiatives[215]. - A one-time non-media revenue adjustment of $4.3 million positively affected net loss in 2025 due to an early termination settlement agreement with a media partner[242]. - The company completed the sale of its Call Solutions business on January 31, 2026, which is expected to improve cash flow by ceasing ongoing losses and receiving monthly seller note payments of $0.1 million for 36 months[272]. - The company has entered into an At-the-Market Issuance Sales Agreement for up to $11.2 million to offer and sell shares of its common stock, subject to market conditions[273]. - The company has substantial doubt about its ability to continue as a going concern, as indicated by its independent registered public accounting firm[274]. - Future cash requirements will depend on various factors, including employee-related expenditures, product development costs, and potential acquisitions, which may require additional financing[278]. Accounting and Compliance - The company accounts for income taxes in accordance with ASC 740, using the asset and liability method, with deferred tax assets and liabilities recorded for estimated future tax consequences[294]. - Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized, with changes reflected in the period of judgment change[295]. - The company accrues a loss contingency if it is probable that a liability has been incurred and the amount can be reasonably estimated, which may impact future consolidated financial statements[296]. - The company is subject to loss contingencies covering a range of matters in the ordinary course of business[296]. - Recent accounting standards adopted during 2025 may be applicable to future operations, as detailed in the notes to consolidated financial statements[297]. - The company is classified as a "smaller reporting company" and is not required to provide certain market risk disclosures[298].

Financial Performance - Total assets increased to $2,367,027 in 2025 from $1,473,980 in 2024, representing a 60.5% growth[228]. - Net sales surged to $1,912,811 in 2025, a significant increase from $50,318 in 2024, marking a 3,694.5% rise[230]. - Gross profit for 2025 was $1,094,760, compared to $43,961 in 2024, indicating a substantial increase[230]. - Operating expenses rose to $8,202,333 in 2025, up from $5,042,459 in 2024, reflecting a 62.5% increase[230]. - The net loss for 2025 was $6,905,282, an improvement from a net loss of $10,368,261 in 2024[230]. - Cash and cash equivalents at the end of 2025 were $706,740, up from $157,139 at the end of 2024, showing a 348.5% increase[234]. - Total current liabilities increased to $7,916,259 in 2025 from $5,876,705 in 2024, a rise of 34.6%[228]. - The company reported a loss from operations of $7,107,573 in 2025, compared to a loss of $4,998,498 in 2024[230]. - Research and development expenses decreased to $788,888 in 2025 from $1,054,310 in 2024, a decline of 25.2%[230]. - The Company reported a net loss of $6,905,282 for the year ended December 31, 2025, with negative net cash flow from operations of $3,329,266[291]. - The Company had negative net working capital of $5,966,168 as of December 31, 2025, raising concerns about its ability to continue as a going concern[291]. Product Development and Launches - The Elevai Exosomes™ product line includes Elevai Empower™ and Elevai Enfinity™, designed to enhance skin appearance post-aesthetic treatments[19]. - In February 2026, the company launched two new products, Elevai HOCL Allantoin Active Cleanser™ and Elevai Hyper-Hydrating Booster™, aimed at attracting new customers with a lower price point[21]. - The Elevai Renew™ Scalp Serum, launched in Q1 2025, promotes healthy hair growth and improves hair appearance, utilizing proprietary compounds from Yuva BioSciences, Inc.[20]. - The Carmell Secretome™ product line utilizes a novel microemulsion formulation, avoiding 14 potentially harmful excipients commonly used in cosmetics[24]. - The company has paused further research and development on innovative regenerative bone and tissue healing products in its pipeline[11]. - The company has deprioritized further research and development of its Bone Healing Accelerant (BHA) and Tissue Healing Accelerant (THA) products to focus on the commercialization of its cosmetic skincare and haircare product lines[45]. - The company has conducted multiple preclinical studies supporting the belief that BHA can heal wounds and accelerate bone healing, measured by density, vascularity, and woven bone presence[45]. Sales and Marketing Strategy - The company sells its products through three channels: business-to-business, direct-to-consumer, and distributor sales, optimizing sales reach and strategy[32]. - The company’s direct sales force targets physician-dispensed markets, focusing on individualized skincare regimens and enhancing the benefits of in-office procedures[36]. - The company has an established customer base for its recently acquired Elevai skin and hair care products, refocusing sales and marketing efforts on these products[39]. - Selling and marketing expenses increased significantly to $1,423,045 in 2025 from $189,323 in 2024, reflecting a growth of approximately 651%[267]. Regulatory and Compliance - The company is subject to extensive regulation by the FDA and other governmental authorities regarding the testing, manufacturing, and marketing of its products[46]. - The company believes its intellectual property, including twenty-one patents related to BHA and THA products, has substantial value and will contribute significantly to its success[47]. - The company is classified as an "emerging growth company," allowing it to take advantage of certain reporting exemptions[245]. Capital and Financing - The company closed a private placement on March 16, 2026, raising approximately $200,000 from the sale of 689,656 shares at an offering price of $0.29 per share[12]. - The company expects to raise additional capital through equity or debt issuances to alleviate liquidity concerns, although there are no guarantees[292]. - The Company raised gross proceeds of $1,959,140 from the sale of 479,621 shares of Common Stock under an at-the-market equity offering in May 2025[337]. - The Company raised approximately $1,851,849 from the 2025 Private Placement, issuing 268,840 shares of Common Stock at $6.90 per share[339]. - The Company raised gross proceeds of $3,000,950 from the sale of 44,382 shares of Common Stock in the 2024 Private Placement, incurring $313,725 in costs[342]. Assets and Liabilities - The company recorded an inventory write-down of $60,963 related to expired finished goods during 2025[256]. - Total inventory as of December 31, 2025, was $963,028, significantly up from $108,705 in 2024[303]. - Accrued expenses and other liabilities increased to $1,843,464 in 2025 from $313,713 in 2024, indicating a substantial rise in financial obligations[310]. - The Company had an outstanding SBA Loan with a principal of $2,000,000, adjusted to fair value at $1,498,000, with monthly payments of $9,953 starting December 2023[316]. - The Company had no reserves for uncollectible receivables as of December 31, 2025 and 2024[255]. Employee and Operational Insights - The company has ten full-time employees as of March 27, 2026, and aims to attract and retain qualified employees through competitive compensation packages and a positive work environment[61]. - The company has experienced no disruptions in its supply chain and actively works to anticipate and respond to potential disruptions, enhancing forecasting and planning capabilities[58]. - The company’s operations are based in Pittsburgh, Pennsylvania, and it operates as a single segment focused on bio-aesthetic products[240]. Acquisitions and Mergers - The company completed the Elevai Acquisition on January 16, 2025, with a fair value of shares issued amounting to $660,805[242]. - The total estimated value of the consideration transferred in the Elevai Acquisition was $1,180,180, which included 38,308 shares of Common Stock valued at $660,805 and earnout liabilities of $301,633[296]. - The fair value step-up of acquired inventories was approximately $410,145, recognized in cost of sales as the related products sold[300]. - The company terminated the THPlasma Merger Agreement on December 8, 2025, as the merger was not consummated by the deadline[327].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-40228 LONGEVITY HEALTH HOLDINGS, INC. (Exact Name of Registrant as Specified in its Charter) ( State or other jurisdiction of incorporation or organization) (I.R.S. Emp ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C., 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________________ to ___________________ Commission File Number: 001-39126 CNS Pharmaceuticals, Inc. (Exact Name of Registrant as Specified in its Charter) (St ...

IPO and Financial Proceeds - FG Merger II Corp. completed its IPO on January 30, 2025, raising gross proceeds of $80,000,000 from the sale of 8,000,000 units at $10.00 per unit[91][92]. - The Company has placed $80,800,000 from the IPO proceeds into a Trust Account, which will be invested in a money market fund until a Business Combination is completed or funds are distributed to stockholders[97]. - The company completed its IPO on January 30, 2025, raising gross proceeds of $80,000,000 from the sale of 8,000,000 Units at $10.00 per Unit[120]. - The company has withdrawn $1,200,000 from the Trust Account for working capital purposes as of December 31, 2025[122]. Business Combination and Merger Agreement - The aggregate merger consideration for BOXABL stockholders is $3,500,000,000, with each share valued at $10[107]. - The Merger Agreement includes a two-step merger process, with BOXABL becoming a wholly-owned subsidiary of FG Merger II Corp. before merging into the Company[106]. - The Company has until March 31, 2026, to complete the Business Combination, following an amendment to extend the original deadline[111]. - Stockholders will have the opportunity to redeem their Public Shares for a pro rata portion of the Trust Account upon completion of the Business Combination[100]. - The Company is focused on businesses in the financial services industry for potential Business Combinations[89]. - There is no assurance that the Company will successfully complete a Business Combination[96]. Financial Performance and Expenses - For the year ended December 31, 2025, the company reported a net income of $1,426,980, consisting of $3,036,888 in investment income and $972,161 in general and administrative expenses[115]. - As of December 31, 2025, the company held a cash balance of $486,900 and had no outstanding balance under the promissory note issued on January 28, 2025[118][136]. - The company incurred deferred offering costs amounting to $1,481,031, which includes $750,000 in underwriting fees and $250,000 in advisor fees[146]. - The company has agreed to a monthly fee of $15,000 for administrative services provided by the Sponsor, totaling $180,000 paid as of December 31, 2025[137]. - As of December 31, 2025, the Company has estimated an income tax expense of $637,747 on income earned in the Trust Account, having paid $500,000 towards taxes during 2025[152]. Assets and Liabilities - As of December 31, 2025, the company had no obligations, assets, or liabilities considered off-balance sheet arrangements[124]. - The company issued a promissory note to the Sponsor for $417,000, bearing interest at 12% per year, which was fully paid off by December 31, 2025[119][136]. - The fair value of the Company's financial assets and liabilities approximates their carrying amounts due to their short-term nature[154]. - The fair value of marketable securities held in the Trust Account is determined using Level 1 inputs, which are quoted prices in active markets for identical assets[158]. - The Company has identified only one reporting segment, with total assets including cash of $486,900 and cash held in the Trust Account amounting to $82,136,888 as of December 31, 2025[161]. Shareholder Information - The company has a total of 2,000,000 Founder Shares outstanding as of December 31, 2025, after the termination of the underwriters' over-allotment option[133]. - The net loss for the period from January 1, 2025, to the IPO was fully allocated to non-redeemable common shares, while net income from the IPO until December 31, 2025, was allocated to both redeemable and non-redeemable common shares[153]. Accounting and Reporting - The Company adopted ASU 2023-07 for the full year 2025, resulting in disclosure changes only, with enhanced disclosures about significant segment expenses[162].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the year ended December 31, 2025 Table of Contents ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-42493 FG MERGER II CORP. | (Exact name of registrant as specified in its charter) | | | | --- | --- | --- | | Nevada | | 86-2579 ...

Financial Performance - Total revenue for fiscal year 2025 was $125,284, derived entirely from the Drug Discovery Services segment, with no revenue from the GPU compute segment as it launched in September 2025[3]. - The net loss from continuing operations for fiscal 2025 was $232.9 million, which included $152.5 million in unrealized losses on digital assets[10][12]. - The company reported cash and cash equivalents of $10.8 million as of December 31, 2025, compared to $0.6 million at the end of 2024[10][11]. Capital and Equity - The company raised $343.5 million in capital through PIPE transactions in October 2025, significantly improving its balance sheet from negative equity to $47.7 million in stockholders' equity[2][10]. Asset Management - As of December 31, 2025, the company held approximately 6.348 billion ATH tokens, with a fair market value of $24.4 million for 2.837 billion unlocked tokens[4][10]. Strategic Initiatives - Management's operational priorities for 2026 include generating initial compute services revenue and pursuing ATH staking activities to yield returns on treasury holdings[7]. - The company is exploring strategic alternatives for its Helomics Drug Discovery Services business, including potential sale or partnership options[4][7]. Market Outlook - Global AI spending is projected to reach $2.52 trillion in 2026, representing a 44% year-over-year increase, indicating a strong market opportunity for GPU compute infrastructure[5]. - The company does not provide formal financial guidance but outlines operational priorities subject to market conditions and risks associated with ATH price volatility[6][14]. Infrastructure Development - The company established access to a distributed GPU network of over 435,000 GPUs across more than 200 locations, aimed at supporting enterprise-scale AI workloads[4][15].

Financial Performance - In Q4 2025, cash used in operations increased to $1.6 million, compared to $1.5 million in Q4 2024[6] - Operating expenses in Q4 2025 decreased to $1.6 million, down from $4.3 million in the same period last year[6] - The net loss for Q4 2025 was $3.2 million, an improvement from a net loss of $4.2 million in Q4 2024[6] - For the full year 2025, operating expenses decreased to $5.8 million from $10.8 million in 2024, reflecting a strategic shift[8] - The net loss for 2025 was $7.0 million, compared to a net loss of $11.5 million in 2024, primarily due to lower operating expenses[8] - As of December 31, 2025, ENDRA had approximately $762,000 in cash and cash equivalents and $2.0 million in its Digital Asset Treasury[9] TAEUS Technology - TAEUS Liver demonstrated a Pearson correlation coefficient of r=0.89 for quantifying liver fat fraction across all stages of steatotic disease[5] - TAEUS achieved an Intraclass Correlation Coefficient of 0.89 with a standard error of measurement of 3.3% for intra-user repeatability and inter-user reproducibility[5] - Approximately 30% of adults worldwide are affected by steatotic liver disease, highlighting the market potential for TAEUS technology[5] Strategic Initiatives - The company initiated a process to evaluate strategic alternatives to maximize shareholder value on March 25, 2026[5]

Financial Performance and Growth - In 2025, TOMI Environmental Solutions experienced revenue headwinds but achieved significant commercial momentum and new market entries [18]. - The company entered into an equity line of credit allowing the option to sell up to $20 million of common stock over a 24-month period [29]. - In 2025, the company experienced significant growth in the Food Safety industry, particularly with the FDA's new rule allowing hydrogen peroxide as a direct food additive [42]. Contracts and Orders - The company announced a contract valued at approximately $450,000 for a SteraMist iHP Custom Engineered System installation at a leading university in Rhode Island [21]. - TOMI secured a signed purchase order valued at approximately $500,000 from a global biopharmaceutical leader for SteraMist iHP integration into sterile manufacturing [31]. - A custom integration pipeline valued at approximately $3 million was announced, with ten active projects across TOMI's SIS and CES platforms [30]. - Approximately $1.6 million of the $3 million integration pipeline has been awarded, with $800,000 recognized since the announcement [34]. Product Efficacy and Applications - The FDA broadened the permitted use of hydrogen peroxide as a direct food additive, significantly expanding SteraMist iHP's potential applications in the food safety market [26]. - SteraMist demonstrated efficacy in combating Honeybee Colony Collapse, enhancing TOMI's position in supporting global food security [23]. - SteraMist iHP achieves a 6-log (99.9999%) or greater kill rate, significantly outperforming most household and industrial disinfectants [67]. - The SteraMist product line includes mobile and permanently integrated solutions, achieving full room disinfection of spaces up to 103.8 m³ (3,663 ft³) in approximately 45 minutes [51]. Operational and Management Developments - The company appointed Mr. David Vanston as Chief Financial Officer to support operations and internal control improvement initiatives [22]. - The company employs 20 full-time executive, operational, and administrative personnel, operating with a lean, cross-functional team [74]. Market Demand and Trends - Healthcare-associated infections (HAIs) affect 7–10% of hospitalized patients globally each year, driving demand for advanced disinfection solutions [41]. - TOMI's BIT Solution sales remained stable, with increased demand from food safety clients following the FDA's late 2025 announcement [33]. - The BIT Solution's 7.8% hydrogen peroxide concentration allows for DOT transport advantages, as it falls below the threshold prohibiting air shipment of higher concentrations [73]. Intellectual Property and Brand Development - The company maintains over 200 trademarks registered or pending globally, covering chemical formulations, sterilization equipment, services, and training [71]. - The company has established relationships with large franchise networks, including T.A.C.T. (18 U.S. locations) and Steri-Clean (approximately 60 franchises) [43]. Research and Development - Research and development expenses for the years ended December 31, 2025 and 2024 were approximately $290,000 and $291,000, respectively [46]. - SteraMist was honored with the 2025 "Disinfection and Decontamination Products Company of the Year" award from Medtech Outlook [22].