Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.19.2
Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Total revenues $ 7,867,396 $ 8,453,165 $ 16,044,027 $ 18,628,592
Total cost of sales 4,441,481 5,293,571 9,659,353 11,631,195
Gross profit 3,425,915 3,159,594 6,384,674 6,997,397
Operating expenses        
General and administrative 2,683,252 2,750,705 5,338,663 5,540,255
Selling 704,700 635,396 1,397,954 1,310,514
Research and development 372,545 409,779 717,627 712,009
(Gain) loss on sale of assets     (1,081,049) 0
Goodwill impairment     3,693,198 0
Total operating expenses 3,760,497 3,795,880 10,066,393 7,562,778
Loss from operations (334,582) (636,286) (3,681,719) (565,381)
Other income (expense)        
Interest income 66 4,830 598 3,758
Interest expense (17,005) (9,802) (45,031) (22,815)
Unrealized gain (loss) on investment securities 19,681 (59,042) (19,680) (78,723)
Total other income (expense), net 2,742 (64,014) (64,113) (97,780)
Loss before provision for state income taxes (331,840) (700,300) (3,745,832) (663,161)
Provision for state income taxes 15,955 38,864 7,786 38,864
Income attributable to the noncontrolling interest (9,334) (15,186) 116,412 (31,567)
Consolidated net loss (347,795) (739,164) (3,753,618) (702,025)
Net loss attributable to Tecogen Inc. $ (357,129) $ (754,350) $ (3,637,206) $ (733,592)
Net loss per share - basic and diluted (in USD per share) $ (0.01) $ (0.03) $ (0.15) $ (0.03)
Weighted average shares outstanding (shares) - basic and diluted 24,826,311 24,818,459 24,822,555 24,811,034
Products        
Total revenues $ 2,445,448 $ 2,483,657 $ 5,469,974 $ 6,157,163
Total cost of sales 1,546,752 1,491,810 3,490,214 3,900,925
Services        
Total revenues 4,843,649 4,461,283 8,754,945 9,180,669
Total cost of sales 2,530,175 2,962,040 5,004,708 5,744,894
Energy production        
Total revenues 578,299 1,508,225 1,819,108 3,290,760
Total cost of sales $ 364,554 $ 839,721 $ 1,164,431 $ 1,985,376