CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2023 |
Sep. 30, 2022 |
Sep. 30, 2023 |
Sep. 30, 2022 |
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| Income Statement [Abstract] | ||||
| Net Sales | $ 8,076,545 | $ 8,812,021 | $ 24,980,902 | $ 23,217,634 |
| Cost of Sales | 5,541,314 | 5,477,947 | 17,061,354 | 14,001,994 |
| Gross Profit | 2,535,231 | 3,334,074 | 7,919,548 | 9,215,640 |
| Operating Expenses: | ||||
| Selling, General, & Administrative | 984,881 | 707,322 | 2,921,516 | 2,027,387 |
| Salaries & Wages | 3,661,654 | 2,891,863 | 10,438,595 | 7,938,954 |
| Professional Fees | 262,426 | 135,311 | 977,448 | 573,592 |
| Research & Development | 63,867 | 283,936 | 930,497 | 680,288 |
| Depreciation & Amortization | 341,826 | 172,602 | 844,665 | 372,511 |
| Total Operating Expenses | 5,314,654 | 4,191,034 | 16,112,721 | 11,592,732 |
| Operating Loss | (2,779,423) | (856,960) | (8,193,173) | (2,377,092) |
| Other Income (Expense): | ||||
| Interest Income | 32,648 | 30,958 | 63,078 | 63,883 |
| Dividend Income | 242,718 | 29,764 | 730,117 | 32,994 |
| Employee Retention Credit Income | 1,267,055 | |||
| Other (Expense) Income | (6,206) | 897 | ||
| Unrealized Gain (Loss) | 42,507 | (37,993) | 45,585 | (150,569) |
| Realized Gain | 23,747 | 23,747 | ||
| Interest Expense | (52,878) | (113,523) | (136,434) | |
| Loss on Disposal of Asset | (49,990) | |||
| Total Other Income (Expense) | 335,414 | (30,149) | 2,016,956 | (240,116) |
| Net Loss | (2,444,009) | (887,109) | (6,176,217) | (2,617,208) |
| Less: Net Loss Attributable to Non- Controlling Interests | (582,274) | (187,080) | (1,813,067) | (187,080) |
| Net Loss Attributed to Stockholders of Twin Vee PowerCats Co. | $ (1,861,735) | $ (700,029) | $ (4,363,150) | $ (2,430,128) |
| Loss Per Share: | ||||
| Basic | $ (0.20) | $ (0.10) | $ (0.46) | $ (0.35) |
| Weighted Average Shares Outstanding: | ||||
| Basic | 9,520,000 | 7,013,478 | 9,520,000 | 7,004,542 |
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- Definition The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of operating dividend income on securities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of gain (loss) on sale or disposal of property, plant and equipment assets, excluding oil and gas property and timber property. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of interest income and other income recognized during the period. Included in this element is interest derived from investments in debt securities, cash and cash equivalents, and other investments which reflect the time value of money or transactions in which the payments are for the use or forbearance of money and other income from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business). No definition available.
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- Definition The net amount of operating interest income (expense). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue and income classified as other. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expense for salary and wage arising from service rendered by nonofficer employee. Excludes allocated cost, labor-related nonsalary expense, and direct and overhead labor cost included in cost of good and service sold. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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