TurnOnGreen, Inc. is a Nevada-based company specializing in premium power electronic solutions and electric vehicle charging infrastructure, focused on innovation and market expansion.

# Summary of TurnOnGreen, Inc.

### Overview
TurnOnGreen, Inc. is a Nevada-based emerging company specializing in premium power electronic solutions and electric vehicle (EV) charging infrastructure. Through its wholly owned subsidiaries, Digital Power Corporation and TOG Technologies Inc., the company designs, develops, manufactures, and sells high-grade power conversion systems and power solutions for various applications, particularly in demanding environments. 

### Key Markets
TurnOnGreen serves several market sectors, including:
- **Defense and Aerospace**
- **Medical and Healthcare**
- **Industrial Applications**
- **Telecommunications**
- **e-Mobility (Electric Vehicles)**
- **OEM (Original Equipment Manufacturer) Solutions**

### Products and Services
- **Power System Solutions**: Highly engineered power conversion systems that cater to mission-critical applications.
- **EV Charging Solutions**: Networked EV charging products including Level 2 AC chargers and DC fast chargers, along with subscription-based charging network management services for various environments such as residential, fleet, commercial, hospitality, and municipal.

### Financial Performance
- **Revenue**: For the fiscal year ending December 31, 2024, TurnOnGreen reported revenues of **$4.9 million**, which is a 17% increase from **$4.2 million** in the previous year.
- **Gross Profit**: The company achieved a gross profit of **$2.1 million** for the year 2024, significantly improved from **$895,000** in 2023.
- **Net Loss**: The net loss for 2024 was **$3.97 million**, improved compared to a loss of **$4.83 million** in 2023.

### Customers and Operations
- **Customer Base**: TurnOnGreen has approximately **98 customers**, predominantly focused in North America, which accounts for about **98.5%** of its revenues.
- **Employee Count**: As of December 31, 2024, the company employed approximately **17 full-time** employees and **1 part-time** employee, with diverse roles in engineering, production, customer support, sales and marketing, and general administration.

### Business Strategy
TurnOnGreen's growth strategy includes:
- Continuous innovation to expand its EV product line.
- Development of a strategic partnership network to enhance market reach.
- Expansion within existing customers to foster loyalty and increased usage of products.
- Investments in marketing efforts and selective acquisitions to broaden its technology base.

### Challenges and Risks
The company faces challenges including:
- Dependence on a limited number of major customers for revenue.
- Supply chain disruptions and challenges in procuring necessary electronic components.
- A history of operating losses prompting ongoing concerns about cash flow and operational viability.

### Conclusion
TurnOnGreen, Inc. focuses on delivering innovative power solutions and EV charging infrastructure amidst an evolving market. Its commitment to quality and responsive customer service, coupled with a strategy aimed at leveraging technological advancements, positions the company for growth, despite the inherent risks associated with its operational environment.

TurnOnGreen, Inc. is a Nevada-based corporation specializing in advanced power conversion solutions and electric vehicle charging products.

# Summary of TurnOnGreen, Inc.

## Company Overview
**TurnOnGreen, Inc.** (TOG) is a Nevada-based corporation specializing in the design, development, manufacture, and sale of advanced power conversion and power system solutions. The Company has two wholly owned subsidiaries: **Digital Power Corporation** and **TOG Technologies Inc. (TOGT)**.

### Key Business Segments
1. **Power Systems Solutions**:
   - TOG provides integrated power systems tailored for critical applications in various sectors, including defense, aerospace, telecommunications, and medical.
   - The power system solutions encompass custom-designed systems that meet high-performance, efficient standards, with digital power management and software configurations.

2. **Electric Vehicle (EV) Charging Solutions**:
   - TOGT focuses on developing and supplying EV charging equipment and cloud-based services for charging stations.
   - The Company offers a line of EV supply equipment (EVSE), including Level 2 AC charging and DC fast charging solutions, designed for residential, commercial, and fleet use.
   - TOG's charging solutions can fully recharge an EV with a 250-mile range battery in approximately 30 to 35 minutes, utilizing cutting-edge technologies and innovative features.

### Financial Information
- **Revenue**:
  - For the year ended December 31, 2023, TOG generated approximately **$3.9 million** in revenue, down from **$5.2 million** in 2022, primarily attributable to power electronics products.
  - **8% of revenues** in 2023 came from EV charging products, with a notable focus on expanding this segment.

- **Income**:
  - The company reported losses available to common shareholders of **$6.9 million** and **$4.9 million** for the years ended December 31, 2023, and 2022, respectively.
  
- **Backlog**:
  - As of December 31, 2023, the backlog stood at approximately **$4.2 million** compared to **$4.4 million** in 2022.

### Customer Base
- The Company serves **approximately 98 commercial customers**, primarily located in North America, where around **89.8%** of revenues were generated in recent years. Notably, the European market contributed only **1.0%** of revenues.

### Employment
- As of February 20, 2024, TurnOnGreen has around **18 full-time employees** and **1 part-time employee**.

### Product Offerings
- **Power Systems**:
  - Products include a range of integrated power switchers, custom power solutions for harsh environments, and high-performance systems tailored for various industries.
  
- **EV Charging Products**:
  - Level 2 chargers (EV700) for residential use capable of adding up to 200 miles of range in under 8 hours.
  - Commercial charging solutions (EVP700, EVP1100, EVP1900) supporting multiple users, capable of setting rates and remote operations.
  - DC fast chargers designed for high traffic areas capable of charging up to 80% in under 35 minutes.

### Strategic Goals
- **Expand EV Charging Segment**: TOG aims to enhance its EV charging infrastructure in the rapidly growing electric vehicle market, leveraging its experience in power technology.
- **Innovation in Power Technology**: Continuous investment in research and development to advance their product offerings and adapt to changing market dynamics.

### Regulatory and Compliance
- TurnOnGreen adheres to various regulatory standards, ensuring that their products meet industry-specific safety and operational requirements. The company has also established a cybersecurity framework to protect its data and systems.

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TurnOnGreen, Inc. is positioned strategically in the power systems and EV charging solutions markets, showcasing strong potential for growth as the demand for electric vehicle infrastructure continues to escalate.

TurnOnGreen, Inc.

10-K / April 23, 2025

10-K / April 11, 2024

10-K / April 23, 2025

Summary of TurnOnGreen, Inc.

Overview

Key Markets

Products and Services

Financial Performance

Customers and Operations

Business Strategy

Challenges and Risks

Conclusion