Twin Vee PowerCats Co
For the period ended Dec 31, 2023. Filed Mar 27, 2024.
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FY2023 · Filed Mar 27, 2024
VEEE$7.44-5.3%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| CONSOLIDATED STATEMENTS OF CASH FLOWS | ||
|---|---|---|
| Years Ended | ||
| December 31, | ||
| 2023 | 2022 | |
| Cash Flows From Operating Activities | ||
| Net loss | $(9,782,196) | $(5,793,414) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock based compensation | 1,902,749 | 1,448,751 |
| Depreciation and amortization | 1,353,383 | 553,750 |
| Loss on disposal of asset | — | 60,088 |
| Change of right-of-use asset | 474,630 | 397,136 |
| Net change in fair value of marketable securities | (87,781) | 133,988 |
| Change in inventory reserve | 419,616 | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (65,993) | (9,030) |
| Inventories | (1,296,045) | (2,208,563) |
| Prepaid expenses and other current assets | 419,195 | 21,339 |
| Accounts payable | 333,346 | 864,819 |
| Accrued liabilities | (165,257) | 783,955 |
| Operating lease liabilities | (479,315) | (390,050) |
| Contract liabilities | 38,895 | (8,800) |
| Net cash used in operating activities | (6,934,773) | (4,146,031) |
| Cash Flows From Investing Activities | ||
| Security deposit | (18,900) | (7,517) |
| Realized gain on sale of marketable securities, available for sale | (103,941) | — |
| Net (purchases) sales of investment in trading marketable securities | (1,343,702) | 3,002,591 |
| Proceeds from sale of property and equipment | — | 175,000 |
| Purchase of property and equipment | (5,162,478) | (3,365,679) |
| Net cash used in investing activities | (6,629,021) | (195,605) |
| Cash Flows From Financing Activities | ||
| Proceeds from issuance of common stock | — | 6,001,836 |
| Proceeds from Forza Issuance of common stock | 6,996,015 | 14,934,989 |
| Deferred offering costs | (66,463) | — |
| Forza stock repurchase | (21,379) | — |
| Advances from related parties | — | (11,826) |
| Repayment to related parties | — | (57,659) |
| Finance lease payments | (90,153) | — |
| Net cash provided by financing activities | 6,818,020 | 20,867,340 |
| Net change in cash, cash equivalents and restricted cash | (6,745,774) | 16,525,705 |
| Cash and cash equivalents at beginning of the year | 23,501,007 | 6,975,302 |
| Cash, cash equivalents and restricted cash at end of the year | $16,755,233 | $23,501,007 |
| Supplemental Cash Flow Information | ||
| Cash paid for income taxes | $— | $— |
| Cash paid for interest | $235,519 | $150,399 |
| Non Cash Investing and Financing Activities | ||
| Increase in the right-of-use asset and lease liability | $— | $176,226 |
| Common stock issued for payment on behalf of parent | — | 52,400 |
| Right of use asset - finance leases | $2,948,991 | $— |
| Reconciliation to the Consolidated Balance Sheets | ||
|---|---|---|
| Cash and cash equivalents | $16,497,703 | $23,501,007 |
| Restricted cash | 257,530 | — |
| Total cash, cash equivalents and restricted cash | $16,755,233 | $23,501,007 |
TWIN VEE POWERCATS CO. AND SUBSIDIARIES
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.