Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.24.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 1,351,270 $ 1,913,969
Accounts receivable, net 6,735,336 6,714,122
Employee retention credit receivable 46,148 713,269
Unbilled revenue 1,258,532 1,805,330
Inventory, net 10,553,419 10,482,729
Prepaid and other current assets 360,639 401,189
Total current assets 20,305,344 22,030,608
Property, plant and equipment, net 1,162,577 1,407,720
Right of use assets 943,283 1,245,549
Intangible assets, net 2,436,230 997,594
Goodwill 2,743,424 2,406,156
Other assets 201,771 165,230
TOTAL ASSETS 27,792,629 28,252,857
Current liabilities:    
Related party notes 505,505 0
Accounts payable 4,514,415 3,261,952
Accrued expenses 2,504,629 2,384,447
Deferred revenue 1,647,206 1,115,627
Lease obligations, current 289,473 687,589
Acquisition liabilities, current 845,363 0
Unfavorable contract liabilities, current 176,207 236,705
Total current liabilities 10,482,798 7,686,320
Long-term liabilities:    
Deferred revenue, net of current portion 369,611 371,823
Lease obligations, net of current portion 683,307 623,452
Acquisition liabilities, net of current portion 1,181,779 0
Unfavorable contract liability, net of current portion 422,839 583,512
Total liabilities 13,140,334 9,265,107
Commitments and contingencies
Tecogen Inc. shareholders’ equity:    
Stockholders’ equity: 24,850 24,850
Additional paid-in capital 57,601,402 57,351,008
Accumulated deficit (42,879,656) (38,281,548)
Total Tecogen Inc. stockholders’ equity 14,746,596 19,094,310
Noncontrolling interest (94,301) (106,560)
Total stockholders’ equity 14,652,295 18,987,750
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 27,792,629 $ 28,252,857