Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current Assets    
Cash and cash equivalents $ 23,501,007 $ 6,975,302
Accounts receivable 14,167 5,137
Marketable securities 1,481,606 2,996,960
Inventories 4,008,332 1,799,769
Deferred offering costs 105,500
Due from affiliated companies 286,922
Prepaid expenses and other current assets 882,417 903,756
Total current assets 29,887,529 13,073,346
Marketable securities - non current 1,445,912 3,067,137
Property and equipment, net 5,535,902 2,883,171
Operating lease right of use asset 1,329,620 1,550,530
Security deposit 32,517 25,000
Total Assets 38,231,480 20,599,184
Current Liabilities:    
Accounts payable 2,065,680 1,200,861
Accrued liabilities 1,240,769 456,814
Contract liabilities 5,300 14,100
Due to affiliated companies 115,043
Operating lease right of use liability 479,314 368,602
Total current liabilities 3,791,063 2,155,420
Economic Injury Disaster Loan 499,900 499,900
Operating lease liability - noncurrent 919,628 1,244,164
Total Liabilities 5,210,591 3,899,484
Stockholders’ equity:    
Preferred stock: 10,000,000 authorized; $0.001 par value; no shares issued and outstanding
Common stock: 50,000,000 authorized; $0.001 par value; 9,520,000 and 7,000,000 shares issued and outstanding, respectively 9,520 7,000
Additional paid-in capital 35,581,022 18,710,256
Accumulated deficit (7,154,808) (2,017,556)
Equity attributed to stockholders of Twin Vee PowerCats Co, Inc. 28,435,734 16,699,700
Equity attributable to noncontrolling interests 4,585,155
Total stockholders’ equity 33,020,889 16,699,700
Total liabilities and stockholders’ equity $ 38,231,480 $ 20,599,184