Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.23.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Jun. 30, 2022
Current assets:      
Cash and cash equivalents $ 1,871,063 $ 1,913,969  
Accounts receivable, net 5,614,291 6,714,122  
Unbilled revenue 1,748,336 1,805,330  
Employee retention credit receivable 46,148 713,269  
Inventories, net 12,027,525 10,482,729  
Prepaid and other current assets 467,390 401,189  
Total current assets 21,774,753 22,030,608  
Property, plant and equipment, net 1,352,318 1,407,720  
Right of use assets 920,690 1,245,549  
Intangible assets, net 2,421,379 997,594  
Goodwill 3,129,147 2,406,156  
Other assets 201,898 165,230  
TOTAL ASSETS 29,800,185 28,252,857 $ 30,333,724
Current liabilities:      
Accounts payable 4,212,914 3,261,952  
Accrued expenses 2,554,000 2,384,447  
Deferred revenue, current 2,086,174 1,115,627  
Lease obligations, current 513,811 687,589  
Acquisition liabilities, current 649,241 0  
Unfavorable contract liability, current 213,559   236,705
Total current liabilities 10,229,699 7,686,320  
Long-term liabilities:      
Deferred revenue, net of current portion 154,149 371,823  
Lease obligations, net of current portion 459,372 623,452  
Acquisition liabilities, net of current portion 1,643,567 0  
Unfavorable contract liability, net of current portion 490,802 583,512  
Total liabilities 12,977,589 9,265,107  
Commitments and contingencies (Note 12)  
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 June 30,2021 and December 31, 2020, respectively 24,850 24,850  
Additional paid-in capital 57,456,945 57,351,008  
Accumulated deficit (40,551,687) (38,281,548)  
Total Tecogen Inc. stockholders’ equity 16,930,108 19,094,310  
Non-controlling interest (107,512) (106,560)  
Total stockholders’ equity 16,822,596 18,987,750 $ 20,542,673
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 29,800,185 $ 28,252,857  
Common stock, shares outstanding 24,850,261 24,850,261  
Common stock, shares issued   24,850,261