Balance Sheet

v3.23.2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Current Assets
Cash, cash equivalents and restricted cash	$ 26,337,127	$ 23,501,007
Accounts receivable	570,133	14,167
Marketable securities	999,609	1,481,606
Inventories	5,576,480	4,008,332
Prepaid expenses and other current assets	454,751	882,417
Total current assets	33,938,100	29,887,529
Marketable securities - non current	947,788	1,445,912
Property and equipment, net	9,556,167	5,535,902
Operating lease right of use asset	1,092,908	1,329,620
Security deposit	47,517	32,517
Total Assets	45,582,480	38,231,480
Current Liabilities:
Accounts payable	2,465,400	2,065,680
Accrued liabilities	1,192,490	1,240,769
Contract liability	182,335	5,300
Finance leases liability	178,687
Operating lease right of use liability	493,056	479,314
Total current liabilities	4,511,968	3,791,063
Economic Injury Disaster Loan	499,900	499,900
Finance leases liability	2,712,885
Operating lease liability - noncurrent	667,169	919,628
Total Liabilities	8,391,922	5,210,591
Commitments and contingencies (Note 11)
Stockholders’ equity:
Preferred stock: 10,000,000 authorized; $0.001 par value; no shares issued and outstanding
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	36,918,233	35,581,022
Accumulated deficit	(9,656,223)	(7,154,808)
Equity attributed to stockholders of Twin Vee PowerCats Co.	27,271,530	28,435,734
Equity attributable to noncontrolling interests	9,919,028	4,585,155
Total stockholders’ equity	37,190,558	33,020,889
Total liabilities and stockholders’ equity	$ 45,582,480	$ 38,231,480

- 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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