Balance Sheet

v3.24.1

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Current Assets
Cash and cash equivalents	$ 16,497,703	$ 23,501,007
Restricted cash	257,530
Accounts receivable	80,160	14,167
Marketable securities	4,462,942	1,481,606
Inventories, net	4,884,761	4,008,332
Prepaid expenses and other current assets	463,222	882,417
Total current assets	26,646,318	29,887,529
Marketable securities - non current		1,445,912
Property and equipment, net	12,293,988	5,535,902
Operating lease right of use asset	854,990	1,329,620
Security deposit	51,417	32,517
Total Assets	39,846,713	38,231,480
Current Liabilities:
Accounts payable	2,399,026	2,065,680
Accrued liabilities	1,075,512	1,240,769
Contract liabilities	44,195	5,300
Finance lease liability	214,715
Operating lease right of use liability	482,897	479,314
Total current liabilities	4,216,345	3,791,063
Economic Injury Disaster Loan	499,900	499,900
Finance lease liability - noncurrent	2,644,123
Operating lease liability - noncurrent	436,730	919,628
Total Liabilities	7,797,098	5,210,591
Commitments and contingencies (Note 13)
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	37,848,657	35,581,022
Accumulated deficit	(14,346,984)	(7,154,808)
Equity attributed to stockholders of Twin Vee PowerCats Co, Inc.	23,511,193	28,435,734
Equity attributable to noncontrolling interests	8,538,422	4,585,155
Total stockholders’ equity	32,049,615	33,020,889
Total Liabilities and Stockholders' Equity	$ 39,846,713	$ 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).

Source