v3.20.2
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 1,647,471 $ 877,676
Accounts receivable, net 8,885,455 14,569,397
Unbilled revenue 5,370,422 5,421,811
Inventory, net 7,142,799 6,405,229
Prepaid and other current assets 517,924 635,034
Total current assets 23,564,071 27,909,147
Property, plant and equipment, net 2,998,014 3,465,948
Right of use assets 1,763,795 2,173,951
Intangible assets, net 1,441,518 1,593,781
Goodwill 5,281,867 5,281,867
Other assets 198,500 691,941
TOTAL ASSETS 35,247,765 41,116,635
Current liabilities:    
Revolving line of credit, bank 0 2,402,384
Note payable, current portion 209,618  
Accounts payable 3,815,875 5,271,756
Accrued expenses 2,650,873 2,599,366
Deferred revenue 1,328,657 2,635,619
Lease obligations, current 519,318 536,443
Total current liabilities 8,524,341 13,445,568
Long-term liabilities:    
Deferred revenue, net of current portion 125,556 145,464
Note payable, net of current portion 1,664,582  
Lease obligations, long-term 1,344,682 1,637,508
Unfavorable contract liability, net 2,205,301 2,534,818
Total liabilities 13,864,462 17,763,358
Commitments and contingencies (Note 11)
Tecogen Inc. shareholders’ equity:    
Common stock, $0.001 par value; 100,000,000 shares authorized; 24,850,261 and 24,849,261 issued and outstanding at September 30, 2020 and December 31, 2019, respectively 24,850 24,849
Additional paid-in capital 56,753,845 56,622,285
Accumulated deficit (35,467,309) (33,379,114)
Total Tecogen Inc. stockholders’ equity 21,311,386 23,268,020
Noncontrolling interest 71,917 85,257
Total stockholders’ equity 21,383,303 23,353,277
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 35,247,765 $ 41,116,635

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