What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2023-04-13 compared with 2022-04-14 · 39 added, 37 removed, 184 unchanged (29% of the section changed)

25 unchanged sentences

from New Jersey to Nevada.

On December 14, 2017, we entered into a Share

Exchange Agreement (the “ HereLab SEA ”) with HereLab, Inc., a Delaware corporation (“ HereLab ”), and

HereLab’s two shareholders pursuant to which we would acquire all the issued and outstanding shares of HereLab in exchange for the

issuance of 1,650,000 shares of our Common Stock, on a pro rata basis, to HereLab’s two shareholders.

The closing of the transaction

occurred on January 11, 2018 and HereLab became our wholly-owned subsidiary.

At the present time, we have two, wholly-owned

subsidiaries which are OXYS Corporation and HereLab, Inc., through which our operations are conducted.

subsidiaries which are OXYS Corporation and HereLab, Inc.

(an entity immaterial to our operations), through which our operations are conducted.

General Overview

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Both companies were, and presently are, early stage technology startups that are largely pre-revenue in their development

HereLab is also an early-stage technology development company.

The Company received its first revenues in the last

quarter of 2017, has continued to realize revenues in 2021, and expects to realize revenue growth in 2022 due to its business development

The Company received its first revenues in the last quarter of 2017, has continued to realize revenues in 2022, and expects

to realize revenue growth in 2023 due to its business development pipeline.

We develop hardware, software and algorithms that

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Our location in Cambridge, Massachusetts is ideal

since market-leading Biotech, Medtech, and Pharma multinational firms have offices or R&D centers in Cambridge or the Greater Boston

area, which gives us easier access to potential sales which, in turn, lowers our cost of sales.

Additionally, we continue to add value

to structural health monitoring and smart manufacturing customers as well.

We, therefore, have a range of opportunities as we continue

to expand our customer base.

Our goal is to help Biotech, Pharma, and Medical

Device companies realize the next wave of performance, productivity, and quality gains for their organizations, and become Industry 4.0

since market-leading Biotech, Medtech, and Pharma multinational firms have offices, manufacturing plants and/ or R&D centers in Cambridge

or the Greater Boston area, which gives us easier access to potential sales which, in turn, lowers our cost of sales.

Additionally, we

continue to gain traction in the structural health monitoring, indoor air quality, and smart manufacturing industries.

We, therefore,

have a range of opportunities as we continue to expand our customer base.

Our goals are to augment visual bridge inspection

with instrumentation and predictive algorithms for structural health monitoring;

improve indoor air quality with our partner’s proprietary

sensors and our predictive analytics;

and help Biotech, Pharma, and Medical Device companies realize the next wave of performance, productivity,

and quality gains for their organizations, through our Smart Manufacturing/Industry 4.0technology and Artificial Intelligence (AI) and

Machine Learning algorithms.

We have a unique value proposition in a fast-growing

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WHAT MARKETS WE SERVE

SMART MANUFACTURING

SMART MANUFACTURING – MEDICAL DEVICES,

BIOTECH, AND PHARMACEUTICAL SUPPLY CHAIN

We help our customers maintain machine uptime

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they happen, and improve part and process quality.

BIOTECH, PHARMACEUTICAL, AND MEDICAL DEVICES

We are on the operations side, not the patient-facing

In this market vertical, our customers must provide high-quality products that must also pass rigorous review by governing bodies

such as the FDA.

Here again, we focus on machine uptime, operational efficiency, and predictive maintenance to avoid unplanned downtime.

We are on the operations side, not the patient-facing side.

In this market vertical,

our customers must provide high-quality products that must also pass rigorous review by governing bodies such as the FDA.

we focus on machine uptime, operational efficiency, and predictive maintenance to avoid unplanned downtime.

SMART INFRASTRUCTURE

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which need to be made first.

SMART BUILDINGS

Our Indoor Air Quality partner provides sensor

technology that is augmented by our AI and Machine Learning algorithms.

These systems allow commercial landlords to ensure safe healthy

air quality for their properties and tenants.

OUR UNIQUE VALUE PROPOSITION

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product development, and research and development.

We are an emerging growth, early-stage, technology company and, as such, most of our

expenditures are aimed at innovation and product development.

The efforts in research and development have already

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As of December 6, 2018, the agreement

was terminated, fees are no longer accruing, interest is accruing and $76,283.88 in fees owed to MIT are still owing as of the date of

this Annual Report.

was terminated, fees are no longer accruing, interest is accruing and $76,284 in fees owed to MIT are still owing as of the date of this

Annual Report.

Despite the termination of the Agreement, we remain active with MIT as a member of the MIT Startup Exchange (STEX).

The purpose of STEX is to promote collaboration and partnerships between MIT-connected startups and members of MIT’s Industrial

Liaison Program.

purpose of STEX is to promote collaboration and partnerships between MIT-connected startups and members of MIT’s Industrial Liaison

We remain open to future mutually acceptable agreements with MIT.

We continue to develop our proprietary algorithms

and plan to protect them through a combination of trade secret, copyright, and patents.

Our common stock is quoted on the OTC Pink under

the symbol “ITOX.” The table below sets forth for the periods indicated the quarterly high and low bid prices as reported

by OTC Markets.

Limited trading volume has occurred during these periods.

These quotations reflect inter-dealer prices, without retail

mark-up, mark-down, or commission and may not necessarily represent actual transactions.

Due to our status of a start-up, at the moment,

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This should change as we implement plans for future growth.

As of April 8, 2022, we have two employees, each

on W2’s, not including the CEO and COO.

Although the consulting agreements of our CEO and COO terminated in 2021, we expect to have

new agreements in place during the second quarter of 2022.

Besides our CEO and COO, one employee is full time and the remaining is part

As of April 13, 2023, we have two full-time W-2

employees, including the CEO (and Interim CTO) and Interim CFO (and COO).

At the present time, except for the funding received

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business