Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2024
Dec. 31, 2023
Current Assets    
Cash and cash equivalents $ 16,137,920 $ 16,497,703
Restricted cash 260,107 257,530
Accounts receivable 90,871 80,160
Marketable securities 982,604 4,462,942
Inventories, net 3,889,982 4,884,761
Prepaid expenses and other current assets 417,268 463,222
Total current assets 21,778,752 26,646,318
Property and equipment, net 13,891,330 12,293,988
Operating lease right of use asset 735,562 854,990
Security deposit 48,708 51,417
Total Assets 36,454,352 39,846,713
Current Liabilities:    
Accounts payable 1,494,271 2,399,026
Accrued liabilities 697,797 1,075,512
Contract liabilities 21,448 44,195
Finance lease liability 217,583 214,715
Operating lease right of use liability 465,864 482,897
Total current liabilities 2,896,963 4,216,345
Economic Injury Disaster Loan 499,900 499,900
Finance lease liability - noncurrent 2,589,092 2,644,123
Operating lease liability - noncurrent 327,694 436,730
Total Liabilities 6,313,649 7,797,098
Commitments and contingencies (Note 11)
Stockholders' equity:    
Preferred stock: 10,000,000 authorized; $0.001 par value; no shares issued and outstanding 0 0
Common stock: 50,000,000 authorized; $0.001 par value; 9,520,000 shares issued and outstanding at March 31, 2024 and December 31, 2023 9,520 9,520
Additional paid-in capital 38,274,940 37,848,657
Accumulated deficit (16,033,211) (14,346,984)
Equity attributed to stockholders of Twin Vee PowerCats Co, Inc. 22,251,248 23,511,193
Equity attributable to noncontrolling interests 7,889,455 8,538,422
Total stockholders’ equity 30,140,703 32,049,615
Total Liabilities and Stockholders' Equity $ 36,454,352 $ 39,846,713