Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Balance Sheets

v3.25.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 5,405,233 $ 1,351,270
Accounts receivable, net 6,026,545 6,735,336
Employee retention credit receivable 0 46,148
Unbilled revenue 398,898 1,258,532
Inventory, net 9,634,005 10,553,419
Prepaid and other current assets 680,565 360,639
Total current assets 22,145,246 20,305,344
Property, plant and equipment, net 1,738,036 1,162,577
Right of use assets - operating leases 1,730,358 743,096
Right of use assets - finance leases 452,390 200,187
Intangible assets, net 2,513,189 2,436,230
Goodwill 2,346,566 2,743,424
Other assets 166,474 201,771
TOTAL ASSETS 31,092,259 27,792,629
Current liabilities:    
Related party notes payable 1,548,872 505,505
Accounts payable 4,142,678 4,514,415
Accrued expenses 2,890,886 2,504,629
Deferred revenue 6,701,131 1,647,206
Operating lease liability, current 430,382 248,933
Finance lease obligations, current 85,646 40,540
Acquisition liabilities, current 902,552 845,363
Unfavorable contract liabilities, current 113,449 176,207
Total current liabilities 16,815,596 10,482,798
Long-term liabilities:    
Deferred revenue, net of current portion 1,165,951 369,611
Operating lease liability, long-term 1,341,789 523,660
Finance lease obligations, net of current portion 325,235 159,647
Acquisition liabilities, net of current portion 1,008,760 1,181,779
Unfavorable contract liability, net of current portion 309,390 422,839
Total liabilities 20,966,721 13,140,334
Commitments and contingencies
Tecogen Inc. shareholders’ equity:    
Stockholders’ equity: 24,950 24,850
Additional paid-in capital 57,845,289 57,601,402
Accumulated deficit (47,639,894) (42,879,656)
Equity, Attributable to Parent, Total 10,230,345 14,746,596
Noncontrolling interest (104,807) (94,301)
Equity, Including Portion Attributable to Noncontrolling Interest, Total 10,125,538 14,652,295
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 31,092,259 $ 27,792,629