Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.20.4
Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 1,490,219 $ 877,676
Accounts receivable, net 8,671,163 14,569,397
Unbilled revenue 4,267,249 5,421,811
Inventory, net 7,168,596 6,405,229
Prepaid and other current assets 597,144 635,034
Total current assets 22,194,371 27,909,147
Property, plant and equipment, net 2,283,846 3,465,948
Right of use assets 1,632,574 2,173,951
Intangible assets, net 1,360,319 1,593,781
Goodwill 2,406,156 5,281,867
Other assets 196,387 691,941
TOTAL ASSETS 30,073,653 41,116,635
Current liabilities:    
Revolving line of credit, bank 0 2,402,384
Note payable, current portion 837,861 0
Accounts payable 4,183,105 5,271,756
Accrued expenses 1,993,471 2,599,366
Deferred revenue 1,294,157 2,635,619
Lease obligations, current 506,514 536,443
Total current liabilities 8,815,108 13,445,568
Long-term liabilities:    
Note payable, net of current portion 1,036,339 0
Deferred revenue, net of current portion 115,329 145,464
Lease obligations, long-term 1,222,492 1,637,508
Unfavorable contract liability, net 1,617,051 2,534,818
Total liabilities 12,806,319 17,763,358
Commitments and contingencies (Note 11)
Tecogen Inc. shareholders’ equity:    
Common stock, $0.001 par value; 100,000,000 shares authorized; 24,850,261 and 24,849,261 issued and outstanding at December 31, 2020 and 2019, respectively 24,850 24,849
Additional paid-in capital 56,814,428 56,622,285
Accumulated deficit (39,529,621) (33,379,114)
Total Tecogen Inc. stockholders’ equity 17,309,657 23,268,020
Noncontrolling interest (42,323) 85,257
Total stockholders’ equity 17,267,334 23,353,277
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 30,073,653 $ 41,116,635