Related Party Transactions |
6 Months Ended |
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Jun. 30, 2023 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions |
10. Related Party Transactions
As discussed in note 5, the Company has leased its Fort Pierce, Florida facilities from a company owned by its CEO.
During the six months ended June 30, 2023, and 2022, the Company recorded management fees of $0 and $27,000, respectively, paid to its shareholder parent company.
During the six months ended June 30, 2023 and 2022, Twin Vee received a monthly fee of $6,800 and $5,850, respectively, to provide management services and facility utilization to Forza. This income for Twin Vee, and expense for Forza, has been eliminated in the condensed consolidated financial statements.
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- References No definition available.
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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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