Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

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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