Balance Sheet

v3.24.3

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Current Assets
Cash and cash equivalents	$ 11,144,929	$ 16,497,703
Restricted cash	212,963	257,530
Accounts receivable	129,544	80,160
Marketable securities - available for sale	0	4,462,942
Inventories, net	3,343,468	4,884,761
Prepaid expenses and other current assets	548,077	463,222
Total current assets	15,378,981	26,646,318
Property and equipment, net	14,217,041	12,293,988
Operating lease right of use asset	495,744	854,990
Security deposit	48,710	51,417
Total Assets	30,140,476	39,846,713
Current Liabilities:
Accounts payable	1,957,902	2,399,026
Accrued liabilities	1,195,982	1,075,512
Contract liabilities - customer deposits	38,175	44,195
Finance lease liability - current portion	220,103	214,715
Operating lease right of use liability - current portion	431,132	482,897
Total current liabilities	3,843,294	4,216,345
Economic Injury Disaster Loan	499,900	499,900
Finance lease liability - noncurrent	2,479,742	2,644,123
Operating lease liability - noncurrent	109,329	436,730
Total Liabilities	6,932,265	7,797,098
Commitments and contingencies (Note 12)
Stockholders' equity:
Common stock: 50,000,000 authorized; $0.001 par value; 9,520,000 shares issued and outstanding	9,520	9,520
Additional paid-in capital	38,871,551	37,848,657
Accumulated deficit	(21,491,078)	(14,346,984)
Equity attributed to stockholders of Twin Vee PowerCats Co, Inc.	17,389,993	23,511,193
Equity attributable to noncontrolling interests	5,818,218	8,538,422
Total stockholders’ equity	23,208,211	32,049,615
Total Liabilities and Stockholders' Equity	$ 30,140,476	$ 39,846,713

- Definition

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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