$VEEE

Twin Vee PowerCats, Co.

CIK:0001855509|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 3,128,374	$ 4,755,618	$ 7,093,080	$ 8,367,909
Cost of products sold (excluding depreciation & amortization)	3,311,042	4,101,565	7,079,411	7,176,742
Gross (loss) profit	(182,668)	654,053	13,669	1,191,167
Operating expenses:
Selling, general and administrative	600,106	605,273	1,460,657	1,203,825
Salaries and wages	822,978	1,055,103	1,708,483	2,022,065
Professional fees	256,989	190,507	376,043	336,518
Impairment of property & equipment	699,711		699,711
Loss on lease termination		53,425		53,425
Loss on sale of property & equipment				63,011
Depreciation and amortization	459,085	425,551	926,246	867,223
Total operating expenses	2,838,869	2,329,859	5,171,140	4,546,067
Loss from operations	(3,021,537)	(1,675,806)	(5,157,471)	(3,354,900)
Other income (expense):
Other income		1,609		51,033
Interest expense	(8,935)	(19,556)	(19,875)	(55,759)
Interest income	132,460	39,682	185,056	95,315
Total other income	123,525	21,735	165,181	90,589
Loss before income tax	(2,898,012)	(1,654,071)	(4,992,290)	(3,264,311)
Income tax provision
Net loss	$ (2,898,012)	$ (1,654,071)	$ (4,992,290)	$ (3,264,311)
Basic loss per share of common stock	$ (5.07)	$ (32.22)	$ (12.85)	$ (71.27)
Dilutive loss per share of common stock	$ (5.07)	$ (32.22)	$ (12.85)	$ (71.27)
Weighted average number of shares of common stock outstanding basic	571,161	51,339	388,473	45,801
Weighted average number of shares of common stock outstanding dilutive	571,161	51,339	388,473	45,801

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows From Operating Activities
Net loss	$ (4,992,290)	$ (3,264,311)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock based compensation	130,010	115,597
Depreciation and amortization	926,246	867,223
Amortization of discount on notes receivable	(81,412)
Impairment of property & equipment	699,711
Loss on lease termination		53,425
Loss on sale of property & equipment		63,011
Amortization of right-of-use asset	255,876	195,146
Change in inventory reserve	172,463	28,697
Changes in operating assets and liabilities:
Accounts receivable	(243,147)
Inventories	(848,489)	(192,937)
Prepaid expenses and other current assets	(5,299)	(4,499)
Accounts payable	110,597	(189,923)
Accrued liabilities	697,558	132,352
Operating lease liabilities	(222,814)	(218,170)
Contract liabilities	129,868	(67,500)
Net cash used in operating activities	(3,271,122)	(2,481,889)
Cash Flows From Investing Activities
Security deposit		14,087
Proceeds from sale of property & equipment		25,000
Purchase of property and equipment	(235,477)	(1,536,522)
Net cash used in investing activities	(235,477)	(1,497,435)
Cash Flows From Financing Activities
Proceeds from issuance of common stock, net of fees of $1,392,615 and $444,899, respectively	5,800,025	2,555,100
Finance lease payments	(10,694)	(105,108)
Net cash provided by financing activities	5,789,331	2,449,992
Net change in cash, cash equivalents and restricted cash	2,282,732	(1,529,332)
Cash, cash equivalents and restricted cash at beginning of the period	1,646,695	7,706,240
Cash, cash equivalents and restricted cash at end of the period	3,929,427	6,176,908
Supplemental Cash Flow Information
Cash paid for interest	192,883	156,815
Non-Cash Investing and Financing Activities
Right of use asset - operating leases	2,775,160
Reconciliation to the Condensed Consolidated Balance Sheets
Cash and cash equivalents	3,721,284	5,961,668
Restricted cash	208,143	215,117
Total cash, cash equivalents and restricted cash	$ 3,929,427	$ 6,176,785

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash and cash equivalents	$ 3,721,284	$ 1,431,578
Restricted cash	208,143	215,117
Accounts receivable	243,147
Inventories, net	3,168,767	2,492,741
Prepaid expenses and other current assets	263,080	227,781
Deferred offering expenses		30,000
Note receivable, current portion	971,725	500,000
Total current assets	8,576,146	4,897,217
Property and equipment, net	6,952,481	8,342,961
Operating lease right of use asset, net	2,519,284
Note receivable less current portion, net of discount	2,577,684	2,967,998
Security deposit	26,193	26,193
Total Assets	20,651,788	16,234,369
Current Liabilities:
Accounts payable	1,225,431	1,114,835
Accrued liabilities	1,411,806	714,248
Contract liabilities	525,800	395,932
Finance lease liabilities	17,445	19,498
Operating lease liabilities	453,498
Total current liabilities	3,633,980	2,244,513
Economic Injury Disaster Loan	499,900	499,900
Finance lease liabilities - noncurrent	13,504	22,145
Operating lease liabilities - noncurrent	2,098,848
Total Liabilities	6,246,232	2,766,558
Stockholders’ equity:
Preferred stock: 10,000,000 authorized; $0.001 par value; no shares issued and outstanding
Common stock:13,513,514 authorized; $0.001 par value; 571,161 and 60,647 issued and outstanding at June 30, 2026 December 31, 2025, respectively	571	60
Additional paid-in capital	53,397,503	47,467,979
Accumulated deficit	(38,992,518)	(34,000,228)
Total stockholders’ equity	14,405,556	13,467,811
Total Liabilities and Stockholders’ Equity	$ 20,651,788	$ 16,234,369