Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.22.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 3,614,463 $ 1,490,219
Accounts receivable, net 8,482,286 8,671,163
Unbilled revenue 3,258,189 4,267,249
Inventory, net 7,764,989 7,168,596
Employee Retention Credit 1,276,021 0
Prepaid and other current assets 578,801 597,144
Total current assets 24,974,749 22,194,371
Property, plant and equipment, net 1,782,944 2,283,846
Right of use assets 1,869,210 1,632,574
Intangible assets, net 1,181,023 1,360,319
Goodwill 2,406,156 2,406,156
Other assets 148,140 196,387
TOTAL ASSETS 32,362,222 30,073,653
Current liabilities:    
Note payable, current 0 837,861
Accounts payable 3,508,354 4,183,105
Accrued expenses 2,343,728 1,993,471
Deferred revenue 1,957,752 1,294,157
Lease obligations, current 641,002 506,514
Unfavorable contract liabilities, current 330,032 355,665
Total current liabilities 8,780,868 9,170,773
Long-term liabilities:    
Deferred revenue, net of current portion 208,456 115,329
Note payable, net of current portion 0 1,036,339
Lease obligations, long-term 1,315,275 1,222,492
Unfavorable contract liability, long-term 929,474 1,261,386
Total liabilities 11,234,073 12,806,319
Tecogen Inc. shareholders’ equity:    
Common stock, $0.001 par value; 100,000,000 shares authorized; 24,850,261 and 24,850,261 issued and outstanding at December 31, 2021 and 2020, respectively 24,850 24,850
Additional paid-in capital 57,016,859 56,814,428
Accumulated deficit (35,833,621) (39,529,621)
Total Tecogen Inc. stockholders’ equity 21,208,088 17,309,657
Commitments and contingencies (Note 11) (79,939) (42,323)
Total stockholders’ equity 21,128,149 17,267,334
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 32,362,222 $ 30,073,653