$TGEN
TECOGEN INC.

2021 Q4 Form 10-Q Financial Statement

#000153743521000062 Filed on November 10, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $7.180M $5.016M $7.200M
YoY Change 26.92% -30.33% -16.96%
Cost Of Revenue $3.728M $2.674M $4.413M
YoY Change 12.48% -39.41% -24.43%
Gross Profit $3.452M $2.342M $2.787M
YoY Change 47.35% -15.96% -1.57%
Gross Profit Margin 48.08% 46.69% 38.71%
Selling, General & Admin $3.162M $3.252M $2.994M
YoY Change -2.31% 8.62% -11.15%
% of Gross Profit 91.59% 138.86% 107.43%
Research & Development $161.0K $122.0K $111.3K
YoY Change 23.86% 9.69% -69.59%
% of Gross Profit 4.66% 5.21% 3.99%
Depreciation & Amortization $112.2K $116.2K $100.3K
YoY Change -6.64% 15.82% 4.89%
% of Gross Profit 3.25% 4.96% 3.6%
Operating Expenses $3.323M $3.374M $3.105M
YoY Change -6.19% 8.66% -16.87%
Operating Profit $129.2K -$910.2K -$207.2K
YoY Change -110.77% 339.37% -61.51%
Interest Expense -$73.53K $3.855K $4.845K
YoY Change 283.57% -20.43% -73.83%
% of Operating Profit -56.93%
Other Income/Expense, Net
YoY Change
Pretax Income $66.12K $1.492M -$212.0K
YoY Change -101.59% -803.54% -61.9%
Income Tax $500.00 $3.000K $9.400K
% Of Pretax Income 0.76% 0.2%
Net Earnings $62.97K $1.467M -$231.9K
YoY Change -101.55% -732.42% -60.44%
Net Earnings / Revenue 0.88% 29.24% -3.22%
Basic Earnings Per Share $0.06 -$0.01
Diluted Earnings Per Share $2.534K $0.06 -$0.01
COMMON SHARES
Basic Shares Outstanding 24.85M shares 24.85M shares 24.85M shares
Diluted Shares Outstanding 25.15M shares 24.85M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.614M $3.351M $1.647M
YoY Change 142.55% 103.42% 111.01%
Cash & Equivalents $3.614M $3.351M $1.647M
Short-Term Investments
Other Short-Term Assets $578.8K $572.8K $517.9K
YoY Change -3.07% 10.59% -19.68%
Inventory $7.765M $7.922M $7.143M
Prepaid Expenses
Receivables $8.482M $7.729M $8.885M
Other Receivables $9.758M $1.276M $0.00
Total Short-Term Assets $24.97M $24.69M $23.56M
YoY Change 12.53% 4.79% -11.39%
LONG-TERM ASSETS
Property, Plant & Equipment $1.783M $1.917M $2.998M
YoY Change -21.93% -36.04% -16.81%
Goodwill $2.406M $2.406M $5.282M
YoY Change 0.0% -54.44% 0.0%
Intangibles $1.181M $1.234M $1.442M
YoY Change -13.18% -14.39% -8.31%
Long-Term Investments
YoY Change
Other Assets $148.1K $210.8K $198.5K
YoY Change -24.57% 6.2% -67.44%
Total Long-Term Assets $7.387M $7.788M $11.68M
YoY Change -6.24% -33.35% -12.56%
TOTAL ASSETS
Total Short-Term Assets $24.97M $24.69M $23.56M
Total Long-Term Assets $7.387M $7.788M $11.68M
Total Assets $32.36M $32.48M $35.25M
YoY Change 7.61% -7.85% -11.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.508M $3.547M $3.816M
YoY Change -16.13% -7.05% -41.18%
Accrued Expenses $2.344M $2.217M $2.651M
YoY Change 17.57% -16.38% 31.55%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $0.00 $0.00 $209.6K
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $8.781M $8.243M $8.524M
YoY Change -4.25% -3.3% -26.33%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $1.665M
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $1.315M $1.479M $1.345M
YoY Change 7.59% 10.03% -23.79%
Total Long-Term Liabilities $1.315M $1.479M $1.345M
YoY Change 7.59% 10.03% -23.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.781M $8.243M $8.524M
Total Long-Term Liabilities $1.315M $1.479M $1.345M
Total Liabilities $11.23M $11.45M $13.86M
YoY Change -12.28% -17.39% -14.08%
SHAREHOLDERS EQUITY
Retained Earnings -$35.83M -$35.90M -$35.47M
YoY Change -9.35% 1.21% 7.82%
Common Stock $24.85K $24.85K $24.85K
YoY Change 0.0% 0.0% 0.03%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $21.21M $21.09M $21.31M
YoY Change
Total Liabilities & Shareholders Equity $32.36M $32.48M $35.25M
YoY Change 7.61% -7.85% -11.78%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $62.97K $1.467M -$231.9K
YoY Change -101.55% -732.42% -60.44%
Depreciation, Depletion And Amortization $112.2K $116.2K $100.3K
YoY Change -6.64% 15.82% 4.89%
Cash From Operating Activities $293.0K $275.7K -$1.347M
YoY Change -4833.93% -120.46% 19.68%
INVESTING ACTIVITIES
Capital Expenditures -$14.04K -$87.32K -$6.270K
YoY Change 1292.66% -90.07%
Acquisitions
YoY Change
Other Investing Activities -$15.77K -$22.56K -$19.82K
YoY Change -272.73% 13.82% -50.94%
Cash From Investing Activities -$29.81K -$109.9K -$26.10K
YoY Change -426.51% 321.03% -74.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000 830.0
YoY Change -100.0% -99.91%
NET CHANGE
Cash From Operating Activities 293.0K 275.7K -1.347M
Cash From Investing Activities -29.81K -109.9K -26.10K
Cash From Financing Activities 0.000 0.000 830.0
Net Change In Cash 263.2K 165.8K -1.373M
YoY Change 8853.06% -112.08% 346.78%
FREE CASH FLOW
Cash From Operating Activities $293.0K $275.7K -$1.347M
Capital Expenditures -$14.04K -$87.32K -$6.270K
Free Cash Flow $307.1K $363.0K -$1.341M
YoY Change -5060.74% -127.06% 26.2%

Facts In Submission

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dei Current Fiscal Year End Date
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dei Document Quarterly Report
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dei Entity File Number
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dei Entity Registrant Name
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TECOGEN INC.
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24850257 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25131165 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24850257 shares
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2021
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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19514094 USD
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AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
56889 USD
CY2021Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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32356 USD
CY2021Q3 us-gaap Profit Loss
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1488587 USD
CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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21027214 USD
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
17267334 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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150655 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
66168 USD
us-gaap Profit Loss
ProfitLoss
3675393 USD
CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
21027214 USD
CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
21573949 USD
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
1149 USD
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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50582 USD
CY2020Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
18670 USD
CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
21383303 USD
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
23353277 USD
CY2020Q3 us-gaap Profit Loss
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tgen Settlement Of Receivable From Shareholder
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1200 USD
us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
1951 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
132312 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
41740 USD
us-gaap Profit Loss
ProfitLoss
-2059795 USD
CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
21383303 USD
us-gaap Profit Loss
ProfitLoss
3675393 USD
us-gaap Profit Loss
ProfitLoss
-2059795 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
357636 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
293941 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
3773014 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
tgen Employee Retention Credit
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1276021 USD
tgen Employee Retention Credit
EmployeeRetentionCredit
0 USD
us-gaap Share Based Compensation
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150655 USD
us-gaap Share Based Compensation
ShareBasedCompensation
132312 USD
us-gaap Provision For Doubtful Accounts
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52000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 USD
us-gaap Gain Loss On Disposition Of Assets1
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9787 USD
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
0 USD
us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
6046 USD
us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
0 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
18749 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-98403 USD
us-gaap Noncash Project Abandonment Costs
NoncashProjectAbandonmentCosts
7400 USD
us-gaap Noncash Project Abandonment Costs
NoncashProjectAbandonmentCosts
179944 USD
tgen Noncash Interest Expense
NoncashInterestExpense
0 USD
tgen Noncash Interest Expense
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51190 USD
us-gaap Increase Decrease In Accounts Receivable
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-890374 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-5683941 USD
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
-424967 USD
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
-51389 USD
us-gaap Increase Decrease In Inventories
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753447 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
737570 USD
tgen Increase Decrease In Prepaid Expense And Other Current Assets
IncreaseDecreaseInPrepaidExpenseAndOtherCurrentAssets
-24361 USD
tgen Increase Decrease In Prepaid Expense And Other Current Assets
IncreaseDecreaseInPrepaidExpenseAndOtherCurrentAssets
-117109 USD
us-gaap Increase Decrease In Other Operating Assets
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387847 USD
us-gaap Increase Decrease In Other Operating Assets
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-532293 USD
us-gaap Increase Decrease In Accounts Payable
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-636156 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1455881 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
378970 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
145848 USD
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
691867 USD
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-1619696 USD
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
379440 USD
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
0 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
171996 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1413428 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
84160 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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11637 USD
us-gaap Payments To Acquire Property Plant And Equipment
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59952 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
0 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
56349 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
123252 USD
us-gaap Proceeds From Sale Of Other Productive Assets
ProceedsFromSaleOfOtherProductiveAssets
9787 USD
us-gaap Proceeds From Sale Of Other Productive Assets
ProceedsFromSaleOfOtherProductiveAssets
0 USD
tgen Paymentof Stock Issuance Costs Acquisition
PaymentofStockIssuanceCostsAcquisition
0 USD
tgen Paymentof Stock Issuance Costs Acquisition
PaymentofStockIssuanceCostsAcquisition
1951 USD
tgen Paymentsto Noncontrolling Interests Investing Activities
PaymentstoNoncontrollingInterestsInvestingActivities
66168 USD
tgen Paymentsto Noncontrolling Interests Investing Activities
PaymentstoNoncontrollingInterestsInvestingActivities
41740 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-185253 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-226895 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
1874269 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
1874200 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
2452329 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1200 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1874269 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-576929 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1861012 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
609604 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1490219 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
877676 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3351231 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1487280 USD
us-gaap Interest Paid Net
InterestPaidNet
0 USD
us-gaap Interest Paid Net
InterestPaidNet
62007 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
18991 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
27791 USD
us-gaap Nature Of Operations
NatureOfOperations
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Description of Business and Basis of Presentation</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Description of Business</span></div><div style="margin-bottom:6pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Tecogen Inc., or we, our or us, produces commercial and industrial engine-driven, combined heat and power (CHP) products that reduce energy costs, decrease greenhouse gas emissions and alleviate congestion on the national power grid. Our products supply electric power or mechanical power for cooling, while heat from the engine is recovered and purposefully used at a facility. We also install, own, operate and maintain complete energy systems and other complementary systems at customer sites and sell electricity, hot water, heat and cooling energy under long-term contracts at prices guaranteed to the customer to be below conventional utility rates. </span></div><div style="margin-bottom:6pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The majority of our customers are located in regions with the highest utility rates, typically California, the Midwest and the Northeast. </span></div><div style="margin-bottom:6pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our common stock is quoted on OTC Markets Group, Inc.'s OTCQX Best Market tier and trades under the symbol "TGEN."</span></div><div style="margin-bottom:6pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 18, 2017, the Company acquired 100% of the outstanding common stock of American DG Energy Inc., formerly a related entity, in a stock-for-stock merger.</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Basis of Presentation</span></div><div style="margin-bottom:6pt;margin-top:5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the nine months ended September 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. </span></div><div style="margin-bottom:6pt;margin-top:5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    The condensed consolidated balance sheet at December 31, 2020 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. </span></div><div style="margin-bottom:5pt;margin-top:5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    For further information, refer to the consolidated financial statements and footnotes thereto included in Tecogen's Annual Report on Form 10-K for the year ended December 31, 2020.</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    The accompanying unaudited condensed consolidated financial statements include our accounts and the accounts of entities in which we have a controlling financial interest. Those entities include our wholly-owned subsidiaries American DG Energy Inc., Tecogen CHP Solutions, Inc., and a joint venture, American DG New York, LLC, in which American DG Energy Inc. holds a 51% interest. Investments in partnerships and companies in which we do not have a controlling financial interest but where we have significant influence are accounted for under the equity method. Any intercompany transactions have been eliminated in consolidation. </span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    Our operations are comprised of two business segments. Our Products and Services segment designs, manufactures and sells industrial and commercial cogeneration systems as described above. Our Energy Production segment sells energy in the form of electricity, heat, hot water and cooling to our customers under long-term sales agreements. </span></div><div style="margin-bottom:5pt;margin-top:5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Reclassification </span></div><div style="margin-bottom:5pt;margin-top:5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    Certain prior period amounts have been reclassified to conform with current year presentation.</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:6pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Income Taxes</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">    </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The provisions for income taxes in the accompanying unaudited consolidated statements of operations differ from that which would be expected by applying the federal statutory tax rate primarily due to losses for which no benefit is recognized.</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Employee Retention Credit</span></div><div style="margin-bottom:6pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was signed into law providing numerous tax provisions and other stimulus measures, including an employee retention credit (“ERC”), which is a refundable tax credit against certain employment taxes. The Taxpayer Certainty and Disaster Tax Relief Act of 2020 and the American Rescue Plan Act of 2021 extended and expanded the availability of the ERC. </span></div><div style="margin-bottom:6pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Section 2301(c)(2)(B) of the CARES Act permits an employer to use an alternative quarter to calculate gross receipts and the employer may determine if the decline in gross receipt tests is met for a calendar quarter in 2021 by comparing its gross receipts for the immediately preceding calendar quarter with those for the corresponding calendar quarter in 2019. Accordingly, for the first quarter of 2021, we elected to use our gross receipts for the fourth calendar quarter of 2020 compared to our gross receipts for the fourth calendar quarter of 2019. As a result of our election to use an alternative quarter, we qualified for the ERC in the first, second and third quarters of 2021 because our gross receipts decreased by more than 20% from the first, second and third quarters of 2019. As a result of averaging 100 or fewer full-time employees in 2019, all wages paid to employees in the first, second and third quarters of 2021 were eligible for the ERC. </span></div><div style="margin-bottom:3pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accounting Standards Codification 105, "Generally Accepted Accounting Principles," describes the decision-making framework when no guidance exists in US GAAP for a particular transaction. Specifically, ASC 105-10-05-2 instructs companies to look for guidance for a similar transaction within US GAAP and apply that guidance by analogy. As such, forms of government assistance, such as the ERC, provided to business entities would not be within the scope of ASC 958, but it may be applied by analogy under ASC 105-10-05-2. We accounted for the Employee Retention Credit as a government grant in accordance with Accounting Standards Update 2013-06, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Not-for-Profit Entities (Topic 958) ("ASU 2013-06") </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">by analogy under ASC 105-10-05-2.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Under this standard, government grants are recognized when the conditions or conditions on which they depend are substantially met. The conditions for recognition of the ERC include, but are not limited to:</span></div><div style="padding-left:36pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">An entity has been adversely affected by the COVID-19 pandemic</span></div><div style="padding-left:36pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">We have not used qualifying payroll for both the Paycheck Protection Program and the ERC</span></div><div style="padding-left:36pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">We incurred payroll costs to retain employees</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">The process for filing for the credit is an administrative task and not a barrier to receiving the credits</span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the three and nine months ended September 30, 2021, we recorded ERC benefits of $562,253 and $1,276,021, respectively in other income (expense), net in our condensed consolidated statements of operations. A current receivable in the amount of $1,276,021 is included in our condensed consolidated balance sheet as of September 30, 2021.</span></div>
CY2021Q3 tgen Percentage Of Owned Joint Venture
PercentageOfOwnedJointVenture
0.51
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
us-gaap Use Of Estimates
UseOfEstimates
Use of EstimatesThe preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates
CY2019Q3 tgen Decrease In Gross Receipts
DecreaseInGrossReceipts
0.20
CY2019Q4 dei Entity Number Of Employees
EntityNumberOfEmployees
100 employee
CY2021Q3 tgen Employee Retention Credit
EmployeeRetentionCredit
562253 USD
tgen Employee Retention Credit
EmployeeRetentionCredit
1276021 USD
tgen Employee Retention Credit
EmployeeRetentionCredit
1276021 USD
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5015868 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
17218131 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7199707 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
22597465 USD
tgen Payment Termon Product Sales
PaymentTermonProductSales
P30D
tgen Payment Termon Contractually Determined Milestones
PaymentTermonContractuallyDeterminedMilestones
P30D
tgen Payment Termon Energy Production Contract Invoices
PaymentTermonEnergyProductionContractInvoices
P30D
tgen Unbilled Revenue Revenue Recognized
UnbilledRevenueRevenueRecognized
1000000 USD
us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
700000 USD
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
1200000 USD
CY2021Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
2100000 USD
CY2021Q3 tgen Performance Obligation Recognizedover Next Two Years Percent
PerformanceObligationRecognizedoverNextTwoYearsPercent
0.924
CY2021Q3 tgen Performance Obligation Recognizedover Next Twelve Months Percent
PerformanceObligationRecognizedoverNextTwelveMonthsPercent
0.881
CY2021Q3 tgen Performance Obligation Recognizedin Year Two Percent
PerformanceObligationRecognizedinYearTwoPercent
0.043
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
1466697 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-231920 USD
us-gaap Net Income Loss
NetIncomeLoss
3633035 USD
us-gaap Net Income Loss
NetIncomeLoss
-2088195 USD
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24850261 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24850261 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24850261 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24850257 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25154905 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24850261 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25131165 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24850257 shares
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.06
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.15
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.08
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.06
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.14
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.08
CY2021Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
6587524 USD
CY2020Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
6227591 USD
CY2021Q3 tgen Inventory Raw Materials Reserves
InventoryRawMaterialsReserves
381000 USD
CY2020Q4 tgen Inventory Raw Materials Reserves
InventoryRawMaterialsReserves
381000 USD
CY2021Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
6206524 USD
CY2020Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
5846591 USD
CY2021Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
716026 USD
CY2020Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
329702 USD
CY2021Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
999494 USD
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
992303 USD
CY2021Q3 us-gaap Inventory Net
InventoryNet
7922044 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
7168596 USD
CY2020Q4 tgen Property Plant And Equipment Net Before Public Utilities Contruction Work In Progress
PropertyPlantAndEquipmentNetBeforePublicUtilitiesContructionWorkInProgress
2283846 USD
CY2021Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5878632 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5811893 USD
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3961149 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3528047 USD
CY2021Q3 tgen Property Plant And Equipment Net Before Public Utilities Contruction Work In Progress
PropertyPlantAndEquipmentNetBeforePublicUtilitiesContructionWorkInProgress
1917483 USD
CY2021Q3 tgen Depreciation Depletionand Amortization Property Plantand Equipment
DepreciationDepletionandAmortizationPropertyPlantandEquipment
144181 USD
tgen Depreciation Depletionand Amortization Property Plantand Equipment
DepreciationDepletionandAmortizationPropertyPlantandEquipment
450195 USD
CY2020Q3 tgen Depreciation Depletionand Amortization Property Plantand Equipment
DepreciationDepletionandAmortizationPropertyPlantandEquipment
175869 USD
tgen Depreciation Depletionand Amortization Property Plantand Equipment
DepreciationDepletionandAmortizationPropertyPlantandEquipment
527886 USD
CY2021Q3 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
2545420 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1311373 USD
CY2021Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1234047 USD
CY2020Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
2496470 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1136151 USD
CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1360319 USD
CY2021Q3 tgen Intangible Liability Gross
IntangibleLiabilityGross
2534818 USD
CY2021Q3 tgen Finite Lived Intangible Liabilities Accumulated Amortization
FiniteLivedIntangibleLiabilitiesAccumulatedAmortization
1185926 USD
CY2021Q3 tgen Intangible Liabilities Net
IntangibleLiabilitiesNet
1348892 USD
CY2020Q4 tgen Intangible Liability Gross
IntangibleLiabilityGross
2534818 USD
CY2020Q4 tgen Finite Lived Intangible Liabilities Accumulated Amortization
FiniteLivedIntangibleLiabilitiesAccumulatedAmortization
917767 USD
CY2020Q4 tgen Intangible Liabilities Net
IntangibleLiabilitiesNet
1617051 USD
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
51229 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
145306 USD
CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
21564 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
64692 USD
CY2021Q3 tgen Amortizationof Contract Related Intangible Assetsand Liabilities Net
AmortizationofContractRelatedIntangibleAssetsandLiabilitiesNet
79570 USD
tgen Amortizationof Contract Related Intangible Assetsand Liabilities Net
AmortizationofContractRelatedIntangibleAssetsandLiabilitiesNet
238192 USD
CY2019Q2 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
7000000 USD
CY2021Q3 us-gaap Lease Cost
LeaseCost
197651 USD
us-gaap Lease Cost
LeaseCost
591867 USD
CY2020Q3 tgen Amortizationof Contract Related Intangible Assetsand Liabilities Net
AmortizationofContractRelatedIntangibleAssetsandLiabilitiesNet
98053 USD
tgen Amortizationof Contract Related Intangible Assetsand Liabilities Net
AmortizationofContractRelatedIntangibleAssetsandLiabilitiesNet
301414 USD
us-gaap Noncash Project Abandonment Costs
NoncashProjectAbandonmentCosts
7400 USD
us-gaap Noncash Project Abandonment Costs
NoncashProjectAbandonmentCosts
179944 USD
CY2019Q2 tgen Numberof Salesof Energy Producing Assets
NumberofSalesofEnergyProducingAssets
2 sale
CY2019Q2 tgen Numberof Energy Producing Sites Sold
NumberofEnergyProducingSitesSold
8 site
CY2020Q3 us-gaap Lease Cost
LeaseCost
179042 USD
us-gaap Lease Cost
LeaseCost
565180 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
534073 USD
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y1M6D
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.06
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
181566 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
733693 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
744981 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
298980 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
108762 USD
CY2021Q3 tgen Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
331128 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2399110 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
290665 USD
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2108445 USD
CY2021Q3 us-gaap Share Based Compensation
ShareBasedCompensation
56889 USD
us-gaap Share Based Compensation
ShareBasedCompensation
150655 USD
CY2020Q3 us-gaap Share Based Compensation
ShareBasedCompensation
50582 USD
us-gaap Share Based Compensation
ShareBasedCompensation
132312 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
11637 USD
us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
6046 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5015868 USD
CY2021Q3 us-gaap Gross Profit
GrossProfit
2341935 USD
CY2021Q3 us-gaap Assets
Assets
32480750 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7199707 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7199707 USD
CY2020Q3 us-gaap Gross Profit
GrossProfit
2786744 USD
CY2020Q3 us-gaap Gross Profit
GrossProfit
2786744 USD
CY2020Q3 us-gaap Assets
Assets
35247765 USD
CY2020Q3 us-gaap Assets
Assets
35247765 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
17218131 USD
us-gaap Gross Profit
GrossProfit
8135782 USD
CY2021Q3 us-gaap Assets
Assets
32480750 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
22597465 USD
us-gaap Gross Profit
GrossProfit
8484902 USD
CY2020Q3 us-gaap Assets
Assets
35247765 USD
CY2021Q3 tgen Employee Retention Credit
EmployeeRetentionCredit
562253 USD
tgen Employee Retention Credit
EmployeeRetentionCredit
1276021 USD

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