Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.8.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 1,673,072 $ 3,721,765
Accounts receivable, net 9,536,673 8,630,418
Unbilled revenue 3,963,133 2,269,645
Inventory, net 5,130,805 4,774,264
Due from related party 585,492 260,988
Prepaid and other current assets 771,526 401,876
Total current assets 21,660,701 20,058,956
Property, plant and equipment, net 12,265,711 517,143
Intangible assets, net 2,896,458 1,065,967
Goodwill 13,365,655 40,870
Other assets 482,551 2,058,425
TOTAL ASSETS 50,671,076 23,741,361
Current liabilities:    
Accounts payable 5,095,285 3,367,481
Accrued expenses 1,416,976 1,378,258
Deferred revenue 1,293,638 876,765
Notes Payable, Related Parties, Current 850,000 0
Due to Related Parties, Current 52,265 0
Total current liabilities 8,708,164 5,622,504
Long-term liabilities:    
Deferred revenue, net of current portion 538,100 459,275
Senior convertible promissory note, related party 0 3,148,509
Unfavorable contract liability, net 7,729,667 0
Total liabilities 16,975,931 9,230,288
Commitments and contingencies (Note 8)
Tecogen Inc. shareholders’ equity:    
Common stock, $0.001 par value; 100,000,000 shares authorized; 24,766,892 and 19,981,912 issued and outstanding at December 31, 2017 and 2016, respectively 24,767 19,982
Additional paid-in capital 56,176,330 37,334,773
Accumulated other comprehensive loss-investment securities (165,317) 0
Accumulated deficit (22,796,246) (22,843,682)
Total Tecogen Inc. stockholders’ equity 33,239,534 14,511,073
Noncontrolling interest in American DG New York, LLC 455,611 0
Total stockholders’ equity 33,695,145 14,511,073
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 50,671,076 $ 23,741,361