“As of June 30, 2026, we had approximately $322,000 in cash and cash equivalents, working capital of approximately $1,818,000, total stockholders’ equity of $1,428,000, and an accumulated deficit of $59.2 million. These factors raise substantial doubt about our ability to continue as a going concern within one year after the date the financial statements are issued.” — 10-Q Note 26/30 现金约 32.2 万，累计亏损 5,920 万；这些情况令公司能否持续经营一年存在重大疑虑。
“Accordingly, management’s plan to address the Company’s going concern conditions does not rely on the completion of the Merger or the Financing Transaction.” — 10-Q Note 2管理层的自救计划并不依赖合并或那笔 1,000 万融资完成。
“As a cash conservation measure, certain members of executive management have not been paid their earned compensation in cash during the year.” — 10-Q Note 12为了省现金，部分高管当年应得的工资没有用现金发（已计提为负债）。
“TOMI Environmental Solutions, Inc. (NASDAQ: TOMZ), a global leader in disinfection and decontamination solutions, today reaffirmed its expectation to achieve revenue of at least $12 million in 2026.” — 8-K 2026-07-29 附件 99.1公司重申 2026 年收入至少 1,200 万美元。
“The Notes are convertible at the option of the holder into Common Stock at a conversion price of $0.54 per share (as subject to adjustment therein).” — 8-K 2017-03-21票据持有人可按每股 0.54 美元转股（2020 年 1:8 并股前口径）。
#2 PPP 贷款（新冠纾困）：原句与说明
“On April 21, 2020, TOMI Environmental Solutions, Inc. (the "Company") received $410,700 in loan funding from the Paycheck Protection Program” — 8-K公司于 2020-04-21 拿到 410,700 美元 PPP 贷款。
#3 高管权证（非股东批准计划）：原句与说明
“In November 2022, we modified the terms of Dr. Halden S. Shane's, TOMI's Chief Executive Officer and a director on TOMI's board of directors, outstanding warrants to purchase 593,750 shares of common stock. The terms of the warrants were increased by 10 years.” — 10-K FY20222022 年 11 月，公司把 CEO Shane 名下 593,750 份权证的期限延长 10 年（拆前口径）。
登记不等于已卖：登记只是把这些股放进可公开转售的通道，是否行权、是否卖出要看 Form 4。今天在外的高管权证是 332,501 份（今天口径），少于当年登记的 420,833 份，差额 88,332 份（今天口径）本页没有逐份追到去向——10-Q 的权证表只给期末余额，到期、行权、注销都可能，未见逐笔披露。
#4 注册直投 + 私募权证 + 配售代理权证：原句与说明
“The Warrants are exercisable at an exercise price of $1.68 per share, are exercisable immediately upon issuance and have a term of exercise equal to five years from the date of issuance.” — 8-K权证行权价 1.68 美元（今天口径 5.04），发行即可行权，期限五年。
“on or prior to 5:00 p.m. (New York City time) on September 29, 2026 (the “Termination Date”)” — 附件 4.1权证最后行权时间：2026-09-29 纽约时间下午 5 点。
“Notwithstanding anything herein to the contrary, on the Termination Date, this Warrant shall be automatically exercised via cashless exercise pursuant to this Section 2(c).” — 附件 4.1到期日自动按无现金方式行权——但行权价高于市价时，无现金公式算出来是零股。
转售登记：2021-10-26 的 S-3 登记 1,606,888 股权证股的转售，列出的持有人有 Armistice Capital Master Fund（889,329 股）、Lind Global Fund II（172,166）、Intracoastal Capital（143,472）、Cavalry 两只基金（各约 43,000）以及 H.C. Wainwright 相关个人（拆前口径），登记号 333-260510，2021-11-08 生效（EFFECT）。
这次发行还带了一份董事高管锁定协议：证券购买协议把「Lock-Up Agreement」定义为公司与附表 D 所列董事与高管签的协议（附件 C 的格式），4.17 条并禁止公司修改、豁免或终止它。但协议本身与附表 D、附件 C 都没有作为附件提交，所以签字人是谁、锁多久，一手件里都查不到；同日的 424B5 只写「任何锁定安排将在适用的招股补充书中列明」，而它并未列明。这是本页在 2023 年以前唯一见到的合同锁定痕迹，按常见做法早已到期，但期限无据可引。
““Lock-Up Agreement” means the Lock-Up Agreement, dated as of the date hereof, by and among the Company and the directors and officers of the Company listed on Schedule D hereto, in the form of Exhibit C attached hereto.” — 证券购买协议「锁定协议」指公司与附表 D 所列董事与高管之间、按附件 C 格式签署的协议。
“The Notes are convertible at any time into shares of the Company’s common stock ... at the option of the holder at a conversion price of $1.25 per share, as adjusted, which shall not exceed $1.55 per share.” — 8-K票据可随时按 1.25 美元转股（今天口径 3.75）。
“This prospectus relates to the resale from time to time of up to 2,080,000 shares of our common stock” — S-3 333-276276转售登记覆盖最多 2,080,000 股转股股（今天口径 693,334）。
“Pursuant to the 2025 SPA and as of December 31, 2025, we sold and issued $535,000 in convertible promissory notes initially convertible into 428,000 shares of common stock at a conversion price of $1.25 per share.” — 10-K截至 2025 年底，2025 系列已发 53.5 万美元，可转 428,000 股（拆前）。
#7 顾问服务股：原句与说明
“In October 2025, we issued 150,000 shares of Common Stock valued at $147,000 in consideration for services provided by an external advisor which has been included in General & Administrative expenses.” — 10-K2025 年 10 月向一名「外部顾问」发 150,000 股（拆前）抵服务费。
#8 Agile Capital「未来应收款买卖」（商户预支）：原句与说明
“As consideration for the Purchased Amount, Agile paid us a purchase price of $315,000, less an origination fee of $15,000, for net proceeds of $300,000.” — 10-QAgile 付 31.5 万、扣 1.5 万手续费，公司实收 30 万；需还 44.73 万。
#9 Hudson Global 股权融资线（ELOC）：原句与说明
““Initial Purchase Price” shall mean 92% of the average of the three (3) lowest trading prices of the Company’s Common Stock on the Principal Market during the ten (10) Trading Days immediately preceding the respective Put Date.” — EPA初始价 = 卖出通知日前 10 个交易日里三个最低成交价平均值的 92%。
““Purchase Price” shall mean the lesser of the (i) Initial Purchase Price or (ii) Market Price on such date on which the Purchase Price is calculated” — EPA最终价 = 初始价与「估值期内最低收盘价的 92%」两者取低。
“in a minimum amount not less than $25,000.00 (calculated using the Initial Purchase Price) and (ii) in a maximum amount up to the lesser of (a) $2,000,000.00 (calculated using the Initial Purchase Price) or (b) 200% of the Average Daily Trading Value.” — EPA §2.1单次最少 2.5 万美元，最多 200 万美元或「近 3 日平均成交额」的 200%，取低。
“Pursuant to General Instruction I.B.6 of Form S-3, in no event will we sell securities in a public primary offering with a value exceeding more than one-third of our public float in any 12-month period so long as our public float remains below $75.0 million.” — 424B5 封面按 S-3 一般指引 I.B.6：公众流通值低于 7,500 万时，任何 12 个月里的公开发行不超过流通值的三分之一。
“We obtained the written consent in lieu of a meeting of 12,295,800 shares of Voting Stock, representing approximately 52.58% of the voting power of our shareholders” — DEF 14C以书面同意代替股东会，签字股份 12,295,800 股，占投票权约 52.58%。
“On August 12, 2026, the Company entered into an Omnibus Amendment to Convertible Promissory Notes (the “Amendment”) with the holders of the 2023 Notes. The Amendment amended the fixed conversion price of the 2023 Notes from $3.75 to $1.50 per share” — 10-Q8/12 与 2023 票据持有人签修订，转股价从 3.75 降到 1.50 美元。
“holders of convertible notes issued by TOMI Environmental Solutions, Inc. (the “Company”) with an aggregate principal amount of $2,475,000 have converted such notes into shares of common stock ... and the Company has issued a total of 1,649,989 shares of Common Stock upon such conversion.” — 8-K本金合计 247.5 万美元的票据已转股，共发 1,649,989 股。
“The Convertible Series A Preferred Stock is convertible at the rate of one share of common stock for one share of Convertible Series A Preferred Stock.” — 10-QA 系列优先股 1:1 转普通股。
“The Reverse Stock Split did not change the Company’s total number of authorized shares of Common Stock or Preferred Stock.” — 8-K 2026-07-20并股没有改变普通股或优先股的授权总数。
“The Company is authorized to issue 250,000,000 shares of Common Stock (the “Common Stock”). The par value of the Common Stock remains $0.01 per share. The Company is authorized to issue 1,000,000 shares of cumulative, convertible $0.01 Preferred A Stock” — 附件 3.1公司获授权发行 2.5 亿股普通股、100 万股 A 系列优先股（章程修正原文）。
“the number of outstanding shares of Common Stock will be reduced to 1-for-3 (1:3) to 1-for-6 (1:6) of the current number of outstanding shares of Common Stock, subject to the treatment of fractional shares, while the number of authorized shares of Common Stock will remain at 250,000,000” — DEF 14C在外股数按 1:3–1:6 缩小，授权普通股仍为 2.5 亿。
“The Company’s pre-split shares outstanding as of June 30, 2026, was 24,427,465.” — 8-K6/30 拆前在外 24,427,465 股。
“Immediately following the Effective Time, the number of issued and outstanding shares of the Common Stock decreased from 133,968,117 shares to approximately 16,746,015 shares, and the number of issued and outstanding shares of the Series A Preferred Stock decreased from 510,000 shares to approximately 63,750 shares. The number of authorized shares of the Common Stock and the Series A Preferred Stock under the Articles of Incorporation of the Company, as amended, were not affected by the Reverse” — 8-K 2020-09-142020-09-10 生效的 1:8：普通股 133,968,117 → 约 16,746,015；A 系列 510,000 → 63,750；授权股数不受影响。
“if a company’s security fails to meet the Bid Price Requirement and the company has effected a reverse stock split over the prior one-year period, then the company shall not be eligible for any compliance period specified in Nasdaq Rule 5810(c)(3)(A) and the Listing Qualifications Department shall issue a Delisting Determination” — SEC Release 34-102245（2025-01-17）若公司过去一年内并过股，之后买价再跌破 1 美元，就没有任何宽限期，纳斯达克直接作出退市决定。
2026-09-18 逐句核对三份批准令原件（联邦公报刊本，本地副本在 USstock/_rules/nasdaq-bid-price-reverse-split/）：
① 2025-01621.pdf = Release No. 34–102245 / File No. SR–NASDAQ–2024–045，批准日 2025-01-17、刊出 2025-01-23——上面那段引文与原文逐字一致；该令还写明，即使公司在上一次并股时买价是合规的，这条也照样适用。
② 「两年累计 ≥250 倍」不出自这一份，出自 2020-08814.pdf——该令方括号抬头逐字为 [Release No. 34–88716; File No. SR–NASDAQ–2020–001]，标题即规则本身（「…With a Cumulative Ratio of 250 Shares or More to One Over the Prior Two-Year Period」），批准日 2020-04-21，原文为「cumulative ratio of 250 shares or more to one over the prior two-year period」；同一份令的另一条腿是「收盘买价 ≤$0.10 连续十个交易日」直接作出退市决定。
③ 2024-23535.pdf = Release No. 34–101271 / SR–NASDAQ–2024–029，批准日 2024-10-07：并股虽把买价抬回 $1 以上，但如果因此触发另一条上市条件（如公众持股数）不合规，在新缺陷补好、且买价再满足十个营业日之前，不算恢复合规。
④ 口径更正：规则原文的触发门槛是「30 个营业日（30 consecutive business days）」；本页此前写「30 个交易日」，是口语化说法，按原文应为营业日。
⑤ 检索写法：联邦公报刊头用的是短破折号（34–102245、SR–NASDAQ–2024–045），且 PDF 转文本后件号还会跨行断开，按连字符字面搜会得 0。在 2020 年那份令上实测四种搜法：字面（连字符 / 短破折号）0 / 0；把连续空白折成单空格之后仍是 0 / 0（断点落在 SR– 与 NASDAQ 之间，折完还剩一个空格）；删掉全部空白后 0 / 2；只搜数字位（2020001）两种写法都命中。所以件号一律只搜数字位，本次三份令的核对都是这么做的。
“On May 19, 2026, the Company received a letter from the Staff notifying the Company that, because it failed to regain compliance with each of the Bid Price Requirement and Minimum Equity Requirement, the Common Stock will be delisted from Nasdaq. The Company appealed the Staff’s delisting determination to a Nasdaq Hearings Panel ... On June 30, 2026, a hearing was held before the Nasdaq Hearings Panel and the Company is currently awaiting the Nasdaq Hearings Panel’s decision.” — 10-Q Item 1A5/19 收到退市决定，公司上诉；6/30 开了听证会，正在等小组决定。
“Carbonium may terminate the Merger Agreement if our Common Stock is delisted from The Nasdaq Capital Market prior to the Closing” — 10-Q Item 1A如果交割前被纳斯达克摘牌，Carbonium 可以终止合并协议。
“However, there can be no assurances that the Nasdaq Hearings Panel will deem the Company has regained compliance.” — 8-K 2026-09-02不能保证听证小组认定公司已恢复合规。
“in an aggregate amount such that, upon effectiveness of the conversion of such shares of Series C Preferred Stock into Common Stock, the stockholders of Carbonium immediately prior to the Effective Time (as defined in the Merger Agreement) shall hold no less than 90% of the shares of TOMZ Capital Stock (as defined in the Merger Agreement) on a fully converted basis.” — 8-K 1.01C 系列转换生效后，Carbonium 原股东合计持有 TOMZ 全面摊薄股本不少于 90%。
“The Company and TOMZ shall jointly work together in good faith to arrange and complete a financing transaction in favor or TOMZ in an amount of no less than $10,000,000 (the “Financing Transaction”) prior to Closing ... TOMZ shall be entitled to use eighty percent (80%) of the net proceeds from the Financing Transaction, solely for purposes of funding the continuing operation of the TOMZ Legacy Business.” — 协议 6.17交割前双方合作完成 ≥1,000 万美元融资；TOMZ 可用净额的 80% 维持老业务。
“Following the completion of Merger, TOMZ shall use its reasonable best efforts to spin off or dispose of TOMZ Legacy Business no later than 180 days following the Effective Time” — 协议 6.18合并完成后 180 天内，TOMZ 尽最大努力分拆或处置老业务。
“by either TOMZ or the Company if the Merger shall not have been consummated by September 11, 2026 (subject to possible extension as provided in this Section 10.1(b), the “End Date”)” — 协议 10.1(b)若 2026-09-11 前未完成合并，任一方可终止（「可按本条延期」）。
“The authorized capital stock of TOMZ consists of (i) 250,000,000 shares of TOMZ Common Stock and 1,004,000 shares of TOMZ Preferred Stock.” — 协议 4.6(a)TOMZ 授权股本：2.5 亿普通股、100.4 万股优先股（= 100 万 A 系列 + 4,000 B 系列）。
“provided, that the number of shares of TOMZ Common Stock issuable upon conversion of the Series C Preferred Stock shall be determined based on an agreed equity valuation of the Company of $120,000,000 and a deemed price per share of TOMZ Common Stock of $1.00, resulting in an aggregate of 120,000,000 shares of TOMZ Common Stock issuable to the stockholders of the Company, inclusive of the TOMZ Common Stock issued pursuant to clause (i), subject to appropriate adjustment for any stock split, stock dividend, reverse stock split, recapitalization or similar transaction.” — 协议 1.1「Company Merger Shares」但书：C 系列可转股数按 Carbonium 估值 1.2 亿美元、TOMZ 每股 1.00 美元确定，合计 1.2 亿股（含交割时的普通股），随并股等调整。
C 系列从哪来：章程里的优先股授权只有 A、B 两个系列，合计 1,004,000 股。协议 7.4 要求交割前向佛州递交指定证书。C 系列的股数、每股可转多少普通股、是否有表决权，目前没有公开的指定证书；协议给了上面两个互相冲突的算法。
Carbonium 自己的投资人简报（5/7 8-K 附件 99.1，11 页全为图片）与 Carbonium CEO 在另一家上市公司的新职务
“On the date of the written consent, which is the Record Date and the date we received a copy of the consent of the holders of a majority of the voting power of capital stock, there were issued and outstanding 23,320,465 shares of Common Stock and 63,750 shares of Series A Preferred Stock” — DEF 14C书面同意当日在外 23,320,465 股普通股（拆前）、63,750 股 A 系列。
“Concurrently with the execution and delivery of this Agreement, the Company, TOMZ, and Affiliates of TOMZ are entering into a Support Agreement ... providing that, among other things, such Affiliates will vote their shares of TOMZ Capital Stock in favor of this Agreement and the Contemplated Transactions (including the Merger).” — 合并协议 Recitals F签合并协议的同时，TOMZ 的关联方签了支持协议，承诺投票赞成。
“For the year ended December 31, 2025, there were no transactions, arrangements or relationships in which we were a participant, the amount involved exceeded $120,000, and in which any director, executive officer ... had a direct or indirect material interest” — 10-K Item 132025 年没有超过 12 万美元的关联交易。
John F. Nelson：13G 在 2024-05-08（1,026,575 股）、2024-10-11（1,259,362 股，6.29%）、2025-07-23（1,469,664 股，7.34%，截至 2025-06-30）三次申报（13G 2024-05 · 13G 2024-10 · 13G 2025-07）。2025 年那份 XML 的「申报人姓名」栏写的是 Stephen L. Morgan、签名也是 Stephen L. Morgan，而正文申报人是 John F. Nelson；「持股 5% 或以下」一栏勾了 Y，比例却填 7.34%。这些是申报本身的错漏。
Lau Sok Huy：年报与 DEF 14C 写「依据 2017-08-01 提交的 13D 及其修订」，给出 2,170,139 股（拆前）。这份 13D 在 EDGAR 上：2017-08-11 由 Lau 独资的 Environmental Solutions Holding（新加坡）提交，持 17,361,111 股（2020 年 1:8 并股前口径，占 14.28%），来源是 Arise Asset Management 以股抵偿 800 万美元借款（SC 13D 2017）。2018-01-22 这批股转到 Lau 个人名下，她以 10% 股东身份交了 Form 3（Form 3 · Form 4）。在 TOMZ 名下全部 419 份申报里，此后再没有她的任何修订或 Form 4。全部 Form 3/4/5 共 102 份，申报人已逐份解析，她的最后一份是 2018-01-24（基底）。2,170,139 正好是 17,361,111 ÷ 8，也就是说公司九年来一直沿用 2017 年的数。今天口径 723,380 股，约占 7.4%。
“The Company remains actively engaged with Carbonium Core following the signing of the definitive merger agreement, as we continue to work toward closing of the transaction in the second half of 2026.” — 新闻稿 7/29公司继续与 Carbonium 推进，力争下半年交割。
“Using current market pricing assumptions discussed during the interview, management believes this represents a long-term annual revenue opportunity approaching $1.5 billion, although actual results will depend on successful execution, financing, customer demand, pricing, regulatory approvals and other factors.” — 新闻稿 7/7Carbonium 管理层在直播访谈里称长期年收入机会接近 15 亿美元（附带大量前提）。
“TOMI Environmental Solutions, Inc. (NASDAQ: TOMZ), a global leader in disinfection and decontamination solutions and Carbonium Core, Inc. a U.S.-based advanced materials company that specializes in producing nuclear-grade graphite for 4th-generation nuclear reactors, including Small Modular Reactors (SMRs), today announced results from the multi-element assay of an initial sample, which returned elevated concentrations of rare earth elements (REEs)” — 新闻稿 8/4两家公司公布一份「初始样品」的多元素化验结果，称稀土元素浓度较高。
两个数不能互相扣减：EDGAR 的文档清单里不把渲染件当申报文档，而提交件内部把它们当文档计数；A 里还多出 zip、xlsx、js/css 一类派生件。所以 A − B 的差额没有「缺件」含义。完整性的依据是「整份提交件按 EDGAR 定义即包含该次申报的全部文档」，加上 419 份逐份取回并核过表头，不是靠两个口径相减。