Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Jun. 30, 2024
Dec. 31, 2023
Current Assets    
Cash and cash equivalents $ 13,927,460 $ 16,497,703
Restricted cash 210,876 257,530
Accounts receivable 115,793 80,160
Marketable securities - available for sale 995,208 4,462,942
Inventories, net 4,147,507 4,884,761
Prepaid expenses and other current assets 185,263 463,222
Total current assets 19,582,107 26,646,318
Property and equipment, net 13,506,672 12,293,988
Operating lease right of use asset 615,815 854,990
Security deposit 48,709 51,417
Total Assets 33,753,304 39,846,713
Current Liabilities:    
Accounts payable 2,779,814 2,399,026
Accrued liabilities 1,107,611 1,075,512
Contract liabilities - customer deposits 6,175 44,195
Finance lease liability - current portion 218,348 214,715
Operating lease right of use liability 448,611 482,897
Total current liabilities 4,560,560 4,216,345
Economic Injury Disaster Loan 499,900 499,900
Finance lease liability - noncurrent 2,535,033 2,644,123
Operating lease liability - noncurrent 218,560 436,730
Total Liabilities 7,814,052 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 at June 30, 2024 and December 31, 2023 9,520 9,520
Additional paid-in capital 38,592,684 37,848,657
Accumulated deficit (18,978,912) (14,346,984)
Equity attributed to stockholders of Twin Vee PowerCats Co, Inc. 19,623,292 23,511,193
Equity attributable to noncontrolling interests 6,315,960 8,538,422
Total stockholders’ equity 25,939,252 32,049,615
Total Liabilities and Stockholders' Equity $ 33,753,304 $ 39,846,713