Polar Power, Inc.
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 31, 2025
POLA$0.30-15.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Balance Sheets as at December 31, 2024 and 2023
BALANCE SHEETS
(in thousands, except share and per share data)
| December 31, 2024 | December 31, 2023 | |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $498 | $549 |
| Accounts receivable | 2,153 | 1,676 |
| Inventories | 12,893 | 16,522 |
| Prepaid expenses | 53 | 455 |
| Employee retention credit receivable | — | 2,000 |
| Income taxes receivable | — | 787 |
| Total current assets | 15,597 | 21,989 |
| Other assets: | ||
| Operating lease right-of-use assets, net | 1,645 | 2,818 |
| Property and equipment, net | 196 | 344 |
| Deposits | 108 | 108 |
| Total assets | $17,546 | $25,259 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities | ||
| Accounts payable | $408 | $1,762 |
| Customer deposits | 607 | 1,618 |
| Accrued liabilities and other current liabilities | 1,100 | 1,151 |
| Line of credit | 4,797 | 4,238 |
| Notes payable-related party | 266 | 257 |
| Notes payable | — | 64 |
| Current portion of operating lease liabilities | 1,382 | 1,124 |
| Total current liabilities | 8,560 | 10,214 |
| Operating lease liabilities, net of current portion | 474 | 1,856 |
| Total liabilities | 9,034 | 12,070 |
| Commitments and Contingencies | - | - |
| Stockholders’ Equity | ||
| Preferred stock, $0.0001 par value, 5,000,000 shares authorized, no shares issued and outstanding | — | — |
| Common stock, $0.0001 par value, 50,000,000 shares authorized, 2,511,350 shares issued and 2,508,853 shares outstanding on December 31, 2024 and 2023 | 2 | 2 |
| Additional paid-in capital | 38,886 | 38,886 |
| Accumulated deficit | (30,336) | (25,659) |
| Treasury Stock, at cost (2,497 shares) | (40) | (40) |
| Total stockholders’ equity | 8,512 | 13,189 |
| Total liabilities and stockholders’ equity | $17,546 | $25,259 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.