v3.19.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 2,610,235 $ 272,552
Accounts receivable, net 11,676,654 14,176,452
Unbilled revenue 5,190,392 4,893,259
Inventory, net 6,667,567 6,294,862
Due from related party 0 9,405
Prepaid and other current assets 618,917 722,042
Total current assets 26,763,765 26,368,572
Property, plant and equipment, net 3,924,951 11,273,115
Right of use assets 2,546,588 0
Intangible assets, net 1,573,399 2,893,990
Goodwill 5,281,867 8,975,065
Other assets 314,652 393,651
TOTAL ASSETS 40,405,222 49,904,393
Current liabilities:    
Revolving line of credit, bank 0 2,009,435
Accounts payable 5,914,089 7,153,330
Accrued expenses 2,222,527 1,528,014
Deferred revenue 1,874,794 2,507,541
Lease obligations, current 555,831 0
Total current liabilities 10,567,241 13,198,320
Long-term liabilities:    
Deferred revenue, net of current portion 295,510 2,375,700
Lease obligations, long-term 1,990,757 0
Unfavorable contract liability, net 2,870,339 6,292,599
Total liabilities 15,723,847 21,866,619
Commitments and contingencies (Note 11)
Tecogen Inc. shareholders’ equity:    
Common stock, $0.001 par value; 100,000,000 shares authorized; 24,834,746 and 24,824,746 issued and outstanding at March 31, 2019 and December 31, 2018, respectively 24,835 24,825
Additional paid-in capital 56,477,342 56,427,928
Accumulated deficit (31,950,172) (28,670,095)
Total Tecogen Inc. stockholders’ equity 24,552,005 27,782,658
Noncontrolling interest 129,370 255,116
Total stockholders’ equity 24,681,375 28,037,774
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 40,405,222 $ 49,904,393

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