CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2022 |
Sep. 30, 2021 |
Sep. 30, 2022 |
Sep. 30, 2021 |
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| Income Statement [Abstract] | ||||
| Net sales | $ 8,812,021 | $ 4,118,246 | $ 23,217,634 | $ 10,623,460 |
| Cost of products sold | 5,477,947 | 2,508,170 | 14,001,994 | 6,209,334 |
| Gross profit | 3,334,074 | 1,610,076 | 9,215,640 | 4,414,126 |
| Operating expenses: | ||||
| Selling, general and administrative | 707,322 | 512,982 | 2,027,387 | 1,090,583 |
| Salaries and wages | 2,891,863 | 1,222,062 | 7,938,954 | 3,197,476 |
| Professional fees | 135,311 | 105,384 | 573,592 | 217,592 |
| Depreciation and amortization | 172,602 | 31,091 | 372,511 | 132,089 |
| Research and design | 283,936 | 61,091 | 680,288 | 61,091 |
| Total operating expenses | 4,191,034 | 1,932,610 | 11,592,732 | 4,698,831 |
| Loss from operations | (856,960) | (322,534) | (2,377,092) | (284,705) |
| Other income (expense): | ||||
| Other income | 29,764 | 148 | 32,994 | 148 |
| Interest expense | (52,878) | (50,315) | (136,434) | (85,468) |
| Interest income | 30,958 | 63,883 | ||
| Loss on disposal of assets | (49,990) | (254,600) | ||
| Gain from insurance recovery | 434,724 | |||
| Net change in fair value of marketable securities | (37,993) | (10,576) | (150,569) | (10,576) |
| Total other (expenses) income | (30,149) | (60,743) | (240,116) | 84,228 |
| Net loss before income tax | (887,109) | (383,277) | (2,617,208) | (200,477) |
| Income taxes provision | ||||
| Net loss | (887,109) | (383,277) | (2,617,208) | (200,477) |
| Less: Net loss attributable to noncontrolling interests | (187,080) | (187,080) | ||
| Net loss attributed to stockholders of Twin Vee PowerCats Co, Inc. | $ (700,029) | $ (383,277) | $ (2,430,128) | $ (200,477) |
| Basic and dilutive loss per share of common stock | $ (0.10) | $ (0.06) | $ (0.35) | $ (0.04) |
| Weighted average number of shares of common stock outstanding | 7,013,478 | 6,282,700 | 7,004,542 | 4,769,200 |
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- Definition The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of gain (loss) on sale or disposal of property, plant and equipment assets, excluding oil and gas property and timber property. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The net amount (to the extent disclosed within this portion of the income statement) by which an insurance settlement exceeds incremental costs incurred from the event causing an interruption of business, plus the insurance award for earnings lost from the event, such as a natural catastrophe, explosion or fire. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of income (loss) from continuing operations, nonoperating income (expense) and income (loss) from equity method investments, before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of interest income (expense). No definition available.
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- References No definition available.
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of interest income and other income recognized during the period. Included in this element is interest derived from investments in debt securities, cash and cash equivalents, and other investments which reflect the time value of money or transactions in which the payments are for the use or forbearance of money and other income from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business). No definition available.
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of revenue and income classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expense for salary and wage arising from service rendered by nonofficer employee. Excludes allocated cost, labor-related nonsalary expense, and direct and overhead labor cost included in cost of good and service sold. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate net change in the difference between the fair value and the carrying value, or in the comparative fair values, of marketable securities categorized as trading held at each balance sheet date, that was included in earnings for the period, which may have arisen from (a) securities classified as trading, (b) the unrealized holding gain (loss) on held-to-maturity securities transferred to the trading security category, and (c) the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) on available-for-sale securities transferred to trading securities during the period and/or any unrealized gains or losses on investments that are separately or otherwise not categorized as trading or available-for-sale. No definition available.
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