Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.8.0.1
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 2,077,047 $ 3,721,765
Accounts receivable, net 11,094,287 8,630,418
Unbilled revenue 3,063,089 2,269,645
Inventory, net 6,118,835 4,774,264
Due from related party 496,655 260,988
Prepaid and other current assets 742,701 401,876
Total current assets 23,592,614 20,058,956
Property, plant and equipment, net 15,502,974 517,143
Intangible assets, net 2,430,178 1,065,967
Excess of cost over fair value of net assets acquired 12,602,409 0
Goodwill 40,870 40,870
Other assets 2,462,870 2,058,425
TOTAL ASSETS 56,631,915 23,741,361
Current liabilities:    
Accounts payable 5,356,449 3,367,481
Accrued expenses 1,676,307 1,378,258
Deferred revenue 1,477,124 876,765
Loan due to related party 850,000 0
Interest payable, related party 39,403 0
Total current liabilities 9,399,283 5,622,504
Long-term liabilities:    
Deferred revenue, net of current portion 386,494 459,275
Senior convertible promissory note, related party 3,149,086 3,148,509
Unfavorable contract liability 10,358,283 0
Total liabilities 23,293,146 9,230,288
Commitments and contingencies
Tecogen Inc. shareholders’ equity:    
Common stock, $0.001 par value; 100,000,000 shares authorized; 24,724,392 and 19,981,912 issued and outstanding at September 30, 2017 and December 31, 2016, respectively 24,724 19,982
Additional paid-in capital 56,081,026 37,334,773
Accumulated other comprehensive loss-investment securities (184,998) 0
Accumulated deficit (23,065,226) (22,843,682)
Total Tecogen Inc. stockholders’ equity 32,855,526 14,511,073
Noncontrolling interest 483,243 0
Total stockholders’ equity 33,338,769 14,511,073
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 56,631,915 $ 23,741,361