Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Income Statement [Abstract]    
Net sales $ 5,276,343 $ 8,877,215
Cost of products sold 4,999,030 7,267,657
Gross profit 277,314 1,609,558
Operating expenses:    
Selling, general and administrative 693,954 1,022,690
Salaries and wages 1,296,269 1,737,750
Professional fees 255,325 297,717
Depreciation and amortization 425,281 218,276
Research and development 149,691 702,648
Total operating expenses 2,820,520 3,979,081
Loss from operations (2,543,206) (2,369,523)
Other income (expense):    
Dividend income 213,732 234,510
Other income (expense) 38,991 (1,551)
Interest expense (66,950) (51,938)
Interest income 2,577 22,430
Unrealized (loss) gain on marketable securities (15,548) 8,034
Realized gain on marketable securities 35,210 0
Employee Retention Credit income 0 329,573
Total other income 208,012 541,058
Loss before income tax (2,335,194) (1,828,465)
Income taxes provision 0 0
Net loss (2,335,194) (1,828,465)
Less: Net loss attributable to noncontrolling interests (648,967) (661,693)
Net loss attributed to stockholders of Twin Vee PowerCats Co, Inc. $ (1,686,227) $ (1,166,772)
Basic loss per share of common stock $ (0.18) $ (0.12)
Dilutive loss per share of common stock $ (0.18) $ (0.12)
Weighted average number of shares of common stock outstanding basic 9,520,000 9,520,000
Weighted average number of shares of common stock outstanding dilutive 9,520,000 9,520,000