Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.23.3
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2023
Dec. 31, 2022
Sep. 30, 2022
Current assets:      
Cash and cash equivalents $ 646,161 $ 1,913,969  
Accounts receivable, net 7,694,571 6,714,122  
Unbilled revenue 1,748,336 1,805,330  
Employee retention credit receivable 46,148 713,269  
Inventories, net 11,039,313 10,482,729  
Prepaid and other current assets 420,317 401,189  
Total current assets 21,594,846 22,030,608  
Property, plant and equipment, net 1,254,656 1,407,720  
Right of use assets 754,957 1,245,549  
Intangible assets, net 2,307,902 997,594  
Goodwill 3,129,147 2,406,156  
Other assets 145,237 165,230  
TOTAL ASSETS 29,186,745 28,252,857 $ 30,071,323
Current liabilities:      
Accounts payable 4,493,758 3,261,952  
Accrued expenses 2,632,607 2,384,447  
Deferred revenue, current 1,655,737 1,115,627  
Lease obligations, current 367,938 687,589  
Acquisition liabilities, current 775,991 0  
Unfavorable contract liability, current 201,090   236,705
Total current liabilities 10,127,121 7,686,320  
Long-term liabilities:      
Deferred revenue, net of current portion 290,226 371,823  
Lease obligations, net of current portion 429,737 623,452  
Acquisition liabilities, net of current portion 1,485,677 0  
Unfavorable contract liability, net of current portion 448,695 583,512  
Total liabilities 12,781,456 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 57,525,719 57,351,008  
Accumulated deficit (41,033,259) (38,281,548)  
Total Tecogen Inc. stockholders’ equity 16,517,310 19,094,310  
Non-controlling interest (112,021) (106,560)  
Total stockholders’ equity 16,405,289 18,987,750 $ 20,358,139
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 29,186,745 $ 28,252,857  
Common stock, shares outstanding 24,850,261 24,850,261  
Common stock, shares issued   24,850,261