Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.19.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 272,552 $ 1,673,072
Accounts receivable, net 14,176,452 9,536,673
Unbilled revenue 4,893,259 3,963,133
Inventory, net 6,294,862 5,130,805
Due from related party 9,405 585,492
Prepaid and other current assets 722,042 771,526
Total current assets 26,368,572 21,660,701
Property, plant and equipment, net 11,273,115 12,265,711
Intangible assets, net 2,893,990 2,896,458
Goodwill 8,975,065 13,365,655
Other assets 393,651 482,551
TOTAL ASSETS 49,904,393 50,671,076
Current liabilities:    
Revolving line of credit, bank 2,009,435 0
Accounts payable 7,153,330 5,095,285
Accrued expenses 1,528,014 1,416,976
Deferred revenue 2,507,541 1,293,638
Notes Payable, Related Parties, Current 0 850,000
Due to Related Parties, Current 0 52,265
Total current liabilities 13,198,320 8,708,164
Long-term liabilities:    
Deferred revenue, net of current portion 2,375,700 538,100
Unfavorable contract liability, net 6,292,599 7,729,667
Total liabilities 21,866,619 16,975,931
Commitments and contingencies (Note 8)
Tecogen Inc. shareholders’ equity:    
Common stock, $0.001 par value; 100,000,000 shares authorized; 24,824,746 and 24,766,892 issued and outstanding at December 31, 2018 and 2017, respectively 24,825 24,767
Additional paid-in capital 56,427,928 56,176,330
Accumulated other comprehensive loss-investment securities 0 (165,317)
Accumulated deficit (28,670,095) (22,796,246)
Total Tecogen Inc. stockholders’ equity 27,782,658 33,239,534
Noncontrolling interest in American DG New York, LLC 255,116 455,611
Total stockholders’ equity 28,037,774 33,695,145
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 49,904,393 $ 50,671,076