Balance Sheet

v3.24.1.1.u2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Current Assets
Cash and cash equivalents	$ 16,137,920	$ 16,497,703
Restricted cash	260,107	257,530
Accounts receivable	90,871	80,160
Marketable securities	982,604	4,462,942
Inventories, net	3,889,982	4,884,761
Prepaid expenses and other current assets	417,268	463,222
Total current assets	21,778,752	26,646,318
Property and equipment, net	13,891,330	12,293,988
Operating lease right of use asset	735,562	854,990
Security deposit	48,708	51,417
Total Assets	36,454,352	39,846,713
Current Liabilities:
Accounts payable	1,494,271	2,399,026
Accrued liabilities	697,797	1,075,512
Contract liabilities	21,448	44,195
Finance lease liability	217,583	214,715
Operating lease right of use liability	465,864	482,897
Total current liabilities	2,896,963	4,216,345
Economic Injury Disaster Loan	499,900	499,900
Finance lease liability - noncurrent	2,589,092	2,644,123
Operating lease liability - noncurrent	327,694	436,730
Total Liabilities	6,313,649	7,797,098
Commitments and contingencies (Note 11)
Stockholders' equity:
Preferred stock: 10,000,000 authorized; $0.001 par value; no shares issued and outstanding	0	0
Common stock: 50,000,000 authorized; $0.001 par value; 9,520,000 shares issued and outstanding at March 31, 2024 and December 31, 2023	9,520	9,520
Additional paid-in capital	38,274,940	37,848,657
Accumulated deficit	(16,033,211)	(14,346,984)
Equity attributed to stockholders of Twin Vee PowerCats Co, Inc.	22,251,248	23,511,193
Equity attributable to noncontrolling interests	7,889,455	8,538,422
Total stockholders’ equity	30,140,703	32,049,615
Total Liabilities and Stockholders' Equity	$ 36,454,352	$ 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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