Twin Vee PowerCats, Co.
For the period ended Dec 31, 2024. Filed Mar 20, 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 20, 2025
VEEE$7.44-5.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Years Ended | ||
|---|---|---|
| December 31, | ||
| 2024 | 2023 | |
| Cash Flows From Operating Activities | ||
| Net loss | $(14,009,906) | $(9,782,196) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock based compensation | 1,177,140 | 1,902,749 |
| Depreciation and amortization | 1,745,217 | 1,353,383 |
| Impairment of property & equipment | 1,674,000 | — |
| Gain of sale of R&D equipment | (50,097) | — |
| Loss on disposal of property & equipment | 172,684 | — |
| Change of right-of-use asset | 464,304 | 474,630 |
| Net change in fair value of marketable securities | — | (87,781) |
| Change in inventory reserve | (285,584) | 419,616 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 80,160 | (65,993) |
| Inventories | 2,703,682 | (1,296,045) |
| Prepaid expenses and other current assets | 267,081 | 419,195 |
| Accounts payable | (183,947) | 333,346 |
| Accrued liabilities | (281,259) | (165,257) |
| Operating lease liabilities | (482,897) | (479,315) |
| Contract liabilities | 35,805 | 38,895 |
| Net cash used in operating activities | (6,973,617) | (6,934,773) |
| Cash Flows From Investing Activities | ||
| Security deposit | 11,137 | (18,900) |
| Realized gain on sale of marketable securities, available for sale | (40,414) | (103,941) |
| Net sales (purchases) of investment in marketable securities | 4,503,356 | (1,343,702) |
| Proceeds from sale of property and equipment | 6,000 | — |
| Purchase of property and equipment | (6,341,711) | (5,162,478) |
| Net cash used in investing activities | (1,861,632) | (6,629,021) |
| Cash Flows From Financing Activities | ||
| Proceeds from Forza Issuance of common stock | — | 6,996,015 |
| Deferred offering costs | — | (66,463) |
| Forza stock repurchase | — | (21,379) |
| Finance lease payments | (213,744) | (90,153) |
| Net (used in) cash provided by financing activities | (213,744) | 6,818,020 |
| Net change in cash, cash equivalents and restricted cash | (9,048,993) | (6,745,774) |
| Cash at beginning of the year | 16,755,233 | 23,501,007 |
| Cash, cash equivalents and restricted cash at end of the year | $7,706,240 | $16,755,233 |
| Supplemental Cash Flow Information | ||
| Cash paid for income taxes | $— | $— |
| Cash paid for interest | $435,161 | $235,519 |
| Reconciliation to the Consolidated Balance Sheet | ||
| Cash and cash equivalents | $7,491,123 | $16,497,703 |
| Restricted cash | 215,117 | 257,530 |
| Total cash, cash equivalents and restricted cash | $7,706,240 | $16,755,233 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.