Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.23.1
Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Total revenues $ 25,002,614 $ 24,398,073
Total cost of sales 13,935,803 12,810,420
Gross profit 11,066,811 11,587,653
Operating expenses    
General and administrative 10,909,251 9,795,823
Selling 1,811,085 2,471,929
Research and development 732,873 542,079
Gain on sale of assets (41,931) (10,486)
Impairment of long-lived assets 4,674 7,400
Goodwill, Impairment Loss 0 0
Operating Expenses 13,415,952 12,806,745
Loss from operations (2,349,141) (1,219,092)
Other income (expense)    
Interest and other income (expense) (34,713) (23,746)
Interest expense (16,255) (14,238)
Gain on extinguishment of debt 0 3,773,014
Employee Retention Credit 0 1,276,021
Gain on the sale of investments 0 6,046
Unrealized gain (loss) on investment securities 18,749 (37,497)
Total other income (expense), net (32,219) 4,979,600
Income (loss) before income taxes   3,760,508
State income tax provision 16,352 19,491
Consolidated net income (loss) (2,397,712) 3,741,017
Income attributable to the noncontrolling interest (50,215) (45,017)
Net income (loss) attributable to Tecogen Inc. $ (2,447,927) $ 3,696,000
Net income (loss) per share - basic (in USD per share) $ (0.10) $ 0.15
Weighted average shares outstanding - basic (in shares) 24,850,261 24,850,261
Net income (loss) per share - diluted (in USD per share) $ (0.10) $ 0.15
Weighted average shares outstanding - diluted (in shares) 24,850,261 25,115,518
Income Tax Provision    
Other income (expense)    
Income (loss) before income taxes $ (2,381,360) $ 3,760,508
State income tax provision 16,352 19,491
Products    
Total revenues 11,156,099 10,133,329
Total cost of sales 7,413,320 5,601,046
Services    
Total revenues 12,060,661 12,525,594
Total cost of sales 5,525,493 6,134,953
Energy production    
Total revenues 1,785,854 1,739,150
Total cost of sales $ 996,990 $ 1,074,421