Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.22.0.1
Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Total revenues $ 24,398,073 $ 28,254,579
Total cost of sales 12,810,420 17,427,065
Gross profit 11,587,653 10,827,514
Operating expenses    
General and administrative 9,795,823 10,311,086
Selling 2,471,929 2,593,168
Research and development 542,079 767,323
Gain on sale of assets (10,486) (11,367)
Impairment of long-lived assets 7,400 251,906
Goodwill, Impairment Loss 0 2,875,711
Operating Expenses 12,806,745 16,787,827
Loss from operations (1,219,092) (5,960,313)
Other income (expense)    
Interest and other income (23,746) (2,479)
Interest expense (14,238) (125,824)
Gain on extinguishment of debt 3,773,014 0
Employee Retention Credit 1,276,021 0
Gain on the sale of investments 6,046 0
Unrealized loss on investment securities (37,497) (98,404)
Total other income (expense), net 4,979,600 (226,707)
Income (loss) before income taxes   (6,187,020)
State income tax provision 19,491 30,171
Consolidated net income (loss) 3,741,017 (6,217,191)
(Income) loss attributable to the noncontrolling interest (45,017) 66,684
Net income (loss) attributable to Tecogen Inc. $ 3,696,000 $ (6,150,507)
Net income (loss) per share - basic (in USD per share) $ 0.15 $ (0.25)
Weighted average shares outstanding - basic (in shares) 24,850,261 24,850,258
Net income (loss) per share - diluted (in USD per share) $ 0.15 $ (0.25)
Weighted average shares outstanding - diluted (in shares) 25,115,518 24,850,258
Income Tax Provision    
Other income (expense)    
Income (loss) before income taxes $ 3,760,508 $ (6,187,020)
State income tax provision 19,491 30,171
Products    
Total revenues 10,133,329 11,466,716
Total cost of sales 5,601,046 6,899,942
Services    
Total revenues 12,525,594 14,950,682
Total cost of sales 6,134,953 9,357,478
Energy production    
Total revenues 1,739,150 1,837,181
Total cost of sales $ 1,074,421 $ 1,169,645