v3.19.3
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 780,740 $ 272,552
Accounts receivable, net 13,049,383 14,176,452
Unbilled revenue 5,058,634 4,893,259
Inventory, net 7,058,466 6,294,862
Due from related party 0 9,405
Prepaid and other current assets 644,821 722,042
Total current assets 26,592,044 26,368,572
Property, plant and equipment, net 3,603,709 11,273,115
Right of use assets 2,294,951 0
Intangible assets, net 1,572,085 2,893,990
Goodwill 5,281,867 8,975,065
Other assets 609,666 393,651
TOTAL ASSETS 39,954,322 49,904,393
Current liabilities:    
Revolving line of credit, bank 940,576 2,009,435
Accounts payable 6,487,743 7,153,330
Accrued expenses 2,015,111 1,528,014
Deferred revenue 1,596,416 2,507,541
Lease obligations, current 530,481 0
Total current liabilities 11,570,327 13,198,320
Long-term liabilities:    
Deferred revenue, net of current portion 157,215 2,375,700
Lease obligations, long-term 1,764,470 0
Unfavorable contract liability, net 2,644,658 6,292,599
Total liabilities 16,136,670 21,866,619
Commitments and contingencies (Note 11)
Tecogen Inc. shareholders’ equity:    
Common stock, $0.001 par value; 100,000,000 shares authorized; 24,843,261 and 24,824,746 issued and outstanding at September 30, 2019 and December 31, 2018, respectively 24,843 24,825
Additional paid-in capital 56,573,920 56,427,928
Accumulated deficit (32,893,550) (28,670,095)
Total Tecogen Inc. stockholders’ equity 23,705,213 27,782,658
Noncontrolling interest 112,439 255,116
Total stockholders’ equity 23,817,652 28,037,774
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 39,954,322 $ 49,904,393

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