$VEEE
Twin Vee PowerCats, Co. Stock $veee

$veee Overview Financials Valuation SEC Filings Company Website

2024 Q3 Form 10-Q Financial Statement

#000173112224001254 Filed on August 14, 2024

Income Statement

Concept	2024 Q3	2024 Q2
Revenue	$2.901M	$4.327M
YoY Change	-64.08%	-46.74%
Cost Of Revenue	$3.047M	$4.124M
YoY Change	-45.01%	-29.67%
Gross Profit	-$145.7K	$202.3K
YoY Change	-105.75%	-91.05%
Gross Profit Margin	-5.02%	4.68%
Selling, General & Admin	$764.8K	$756.0K
YoY Change	-22.35%	-17.33%
% of Gross Profit		373.61%
Research & Development	$89.40K	$344.8K
YoY Change	39.98%	31.86%
% of Gross Profit		170.4%
Depreciation & Amortization	$440.5K	$435.0K
YoY Change	28.85%	52.85%
% of Gross Profit		214.96%
Operating Expenses	$2.844M	$4.861M
YoY Change	-46.5%	-8.36%
Operating Profit	-$2.989M	-$4.659M
YoY Change	7.55%	53.05%
Interest Expense	$101.4K	$145.9K
YoY Change	2.56%	-24.92%
% of Operating Profit
Other Income/Expense, Net	-$20.68K	$139.9K
YoY Change	-106.16%	-87.74%
Pretax Income	-$3.010M	-$4.519M
YoY Change	23.15%	137.39%
Income Tax	$0.00	$0.00
% Of Pretax Income
Net Earnings	-$2.512M	-$2.946M
YoY Change	2.79%	54.73%
Net Earnings / Revenue	-86.59%	-68.08%
Basic Earnings Per Share	-$0.26	-$0.31
Diluted Earnings Per Share	-$0.26	-$0.31
COMMON SHARES
Basic Shares Outstanding	9.520M shares	9.520M shares
Diluted Shares Outstanding	9.520M shares	9.520M shares

Balance Sheet

Concept	2024 Q3	2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$11.14M	$14.92M
YoY Change	-53.58%	-47.24%
Cash & Equivalents	$11.14M	$13.93M
Short-Term Investments	$0.00	$995.2K
Other Short-Term Assets	$761.0K	$396.1K
YoY Change	38.3%	-12.89%
Inventory	$3.343M	$4.148M
Prepaid Expenses
Receivables	$129.5K	$115.8K
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$15.38M	$19.58M
YoY Change	-53.0%	-42.3%
LONG-TERM ASSETS
Property, Plant & Equipment	$14.22M	$13.51M
YoY Change	41.42%	41.34%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$48.71K	$48.71K
YoY Change	-0.94%	2.5%
Total Long-Term Assets	$14.76M	$14.17M
YoY Change	27.77%	21.7%
TOTAL ASSETS
Total Short-Term Assets	$15.38M	$19.58M
Total Long-Term Assets	$14.76M	$14.17M
Total Assets	$30.14M	$33.75M
YoY Change	-31.93%	-25.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$1.958M	$2.780M
YoY Change	-46.12%	12.75%
Accrued Expenses	$1.196M	$1.108M
YoY Change	23.87%	-7.12%
Deferred Revenue	$38.18K	$6.175K
YoY Change	167.73%	-96.61%
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due	$220.1K	$218.4K
YoY Change	3.28%	22.19%
Total Short-Term Liabilities	$3.843M	$4.561M
YoY Change	-27.85%	1.08%
LONG-TERM LIABILITIES
Long-Term Debt	$2.980M	$3.035M
YoY Change	-6.84%	-5.54%
Other Long-Term Liabilities	$109.3K	$218.6K
YoY Change	-79.77%	-67.24%
Total Long-Term Liabilities	$3.089M	$3.253M
YoY Change	-17.39%	-16.15%
TOTAL LIABILITIES
Total Short-Term Liabilities	$3.843M	$4.561M
Total Long-Term Liabilities	$3.089M	$3.253M
Total Liabilities	$6.932M	$7.814M
YoY Change	-23.53%	-6.89%
SHAREHOLDERS EQUITY
Retained Earnings	-$21.49M	-$18.98M
YoY Change	86.59%	96.55%
Common Stock	$9.520K	$9.520K
YoY Change	0.0%	0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$17.39M	$19.62M
YoY Change
Total Liabilities & Shareholders Equity	$30.14M	$33.75M
YoY Change	-31.93%	-25.95%

Cashflow Statement

Concept	2024 Q3	2024 Q2
OPERATING ACTIVITIES
Net Income	-$2.512M	-$2.946M
YoY Change	2.79%	54.73%
Depreciation, Depletion And Amortization	$440.5K	$435.0K
YoY Change	28.85%	52.85%
Cash From Operating Activities	-$2.407M	-$482.1K
YoY Change	-31.23%	-59.74%
INVESTING ACTIVITIES
Capital Expenditures	$1.329M	$1.724M
YoY Change	67.62%	95.97%
Acquisitions
YoY Change
Other Investing Activities	$1.009M	$0.00
YoY Change	-110.49%	-100.0%
Cash From Investing Activities	-$320.0K	-$1.724M
YoY Change	-96.92%	317.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-53.54K	-53.29K
YoY Change	93.56%	-100.77%
NET CHANGE
Cash From Operating Activities	-2.407M	-482.1K
Cash From Investing Activities	-320.0K	-1.724M
Cash From Financing Activities	-53.54K	-53.29K
Net Change In Cash	-2.780M	-2.260M
YoY Change	-80.04%	-142.52%
FREE CASH FLOW
Cash From Operating Activities	-$2.407M	-$482.1K
Capital Expenditures	$1.329M	$1.724M
Free Cash Flow	-$3.736M	-$2.206M
YoY Change	-12.97%	6.21%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2024Q1	us-gaap	Profit Loss ProfitLoss	-2335194	usd
	VEEE	Employee Retention Credit EmployeeRetentionCredit	0	usd
CY2024Q2	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
CY2023Q2	us-gaap	Stock Repurchased During Period Value StockRepurchasedDuringPeriodValue		usd
CY2024Q2	VEEE	Employee Retention Credit Income EmployeeRetentionCreditIncome	0	usd
CY2023Q2	VEEE	Employee Retention Credit Income EmployeeRetentionCreditIncome	937482	usd
	VEEE	Employee Retention Credit Income EmployeeRetentionCreditIncome	0	usd
	VEEE	Employee Retention Credit Income EmployeeRetentionCreditIncome	1267055	usd
CY2024Q2	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	139880	usd
CY2023Q2	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	1140484	usd
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	347891	usd
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	1681542	usd
CY2024Q2	us-gaap	Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet	-4519196	usd
CY2023Q2	us-gaap	Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet	-1903743	usd
	us-gaap	Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet	-6854390	usd
	us-gaap	Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet	-3732208	usd
CY2024Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-0	usd
CY2023Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-0	usd
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-0	usd
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-0	usd
CY2024Q2	us-gaap	Profit Loss ProfitLoss	-4519196	usd
CY2023Q2	us-gaap	Profit Loss ProfitLoss	-1903743	usd
	us-gaap	Profit Loss ProfitLoss	-6854390	usd
	us-gaap	Profit Loss ProfitLoss	-3732208	usd
CY2024Q2	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	-1573495	usd
CY2023Q2	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	-569100	usd
	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	-2222462	usd
	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	-1230793	usd
CY2024Q2	us-gaap	Net Income Loss NetIncomeLoss	-2945701	usd
CY2023Q2	us-gaap	Net Income Loss NetIncomeLoss	-1334643	usd
	us-gaap	Net Income Loss NetIncomeLoss	-4631928	usd
	us-gaap	Net Income Loss NetIncomeLoss	-2501415	usd
CY2024Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.31
CY2024Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.31
CY2023Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.14
CY2023Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.14
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.49
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.49
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.26
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.26
CY2024Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	9520000	shares
CY2024Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	9520000	shares
CY2023Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	9520000	shares
CY2023Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	9520000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	9520000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	9520000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	9520000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	9520000	shares
CY2022Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	33020889	usd
CY2023Q1	us-gaap	Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition	482964	usd
CY2023Q1	us-gaap	Profit Loss ProfitLoss	-1828465	usd
CY2023Q1	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	31675388	usd
CY2023Q2	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	6929552	usd
CY2023Q2	us-gaap	Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition	489361	usd
CY2023Q2	us-gaap	Profit Loss ProfitLoss	-1903743	usd
CY2023Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	37190558	usd
CY2023Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	32049615	usd
CY2024Q1	us-gaap	Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition	426283	usd
CY2024Q1	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	30140704	usd
CY2024Q2	us-gaap	Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition	317744	usd
CY2024Q2	us-gaap	Profit Loss ProfitLoss	-4519196	usd
CY2024Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	25939252	usd
	us-gaap	Profit Loss ProfitLoss	-6854390	usd
	us-gaap	Profit Loss ProfitLoss	-3732208	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	744027	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	972325	usd
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	860239	usd
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	502840	usd
	us-gaap	Asset Impairment Charges AssetImpairmentCharges	1674000	usd
	us-gaap	Asset Impairment Charges AssetImpairmentCharges	0	usd
	VEEE	Change Of Rightofuse Asset And Lease Liabilities ChangeOfRightofuseAssetAndLeaseLiabilities	239176	usd
	VEEE	Change Of Rightofuse Asset And Lease Liabilities ChangeOfRightofuseAssetAndLeaseLiabilities	236712	usd
	VEEE	Net Change In Fair Value Of Marketable Securities NetChangeInFairValueOfMarketableSecurities	-2944	usd
	VEEE	Net Change In Fair Value Of Marketable Securities NetChangeInFairValueOfMarketableSecurities	3077	usd
	VEEE	Change In Inventory Reserve ChangeInInventoryReserve	289072	usd
	VEEE	Change In Inventory Reserve ChangeInInventoryReserve	0	usd
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	35633	usd
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	555966	usd
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-448182	usd
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	1568148	usd
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-277959	usd
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-427666	usd
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	380789	usd
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	399720	usd
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	32099	usd
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	-48279	usd
	us-gaap	Increase Decrease In Operating Lease Liability IncreaseDecreaseInOperatingLeaseLiability	-252456	usd
	us-gaap	Increase Decrease In Operating Lease Liability IncreaseDecreaseInOperatingLeaseLiability	-238717	usd
	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	-38020	usd
	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	177035	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-2232013	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-3430097	usd
	VEEE	Payment To Security Deposit PaymentToSecurityDeposit	-2706	usd
	VEEE	Payment To Security Deposit PaymentToSecurityDeposit	15000	usd
	VEEE	Realized Gain On Sale Of Marketable Securities Available For Sale RealizedGainOnSaleOfMarketableSecuritiesAvailableForSale	35210	usd
	VEEE	Realized Gain On Sale Of Marketable Securities Available For Sale RealizedGainOnSaleOfMarketableSecuritiesAvailableForSale	-0	usd
	VEEE	Net Sales Of Investment In Trading Marketable Securities NetSalesOfInvestmentInTradingMarketableSecurities	-3500000	usd
	VEEE	Net Sales Of Investment In Trading Marketable Securities NetSalesOfInvestmentInTradingMarketableSecurities	-983198	usd
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	3715351	usd
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	1623867	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-247855	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-655669	usd
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	0	usd
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	6996015	usd
	us-gaap	Deferred Finance Costs Ownshare Lending Arrangement Issuance Costs Adjustment DeferredFinanceCostsOwnshareLendingArrangementIssuanceCostsAdjustment	-0	usd
	us-gaap	Deferred Finance Costs Ownshare Lending Arrangement Issuance Costs Adjustment DeferredFinanceCostsOwnshareLendingArrangementIssuanceCostsAdjustment	66463	usd
	VEEE	Finance Lease Payments FinanceLeasePayments	137029	usd
	VEEE	Finance Lease Payments FinanceLeasePayments	7666	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-137029	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	6921886	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect	-2616897	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect	2836120	usd
CY2023Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	16755233	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	23501007	usd
CY2024Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	14138336	usd
CY2023Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	26337127	usd
	us-gaap	Interest Paid Net InterestPaidNet	176190	usd
	us-gaap	Interest Paid Net InterestPaidNet	110395	usd
	VEEE	Increase In Rightofuse Asset And Lease Liability IncreaseInRightofuseAssetAndLeaseLiability	31572	usd
	VEEE	Increase In Rightofuse Asset And Lease Liability IncreaseInRightofuseAssetAndLeaseLiability	2899238	usd
CY2024Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	13927460	usd
CY2023Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	26079597	usd
CY2024Q2	us-gaap	Restricted Cash RestrictedCash	210876	usd
CY2023Q2	us-gaap	Restricted Cash RestrictedCash	257530	usd
CY2024Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	14138336	usd
CY2023Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	26337127	usd
	us-gaap	Asset Impairment Charges AssetImpairmentCharges	1674000	usd
	VEEE	Increase In Cost Of Sales IncreaseInCostOfSales	2937019	usd
CY2023Q2	VEEE	Increase In Cost Of Sales IncreaseInCostOfSales	1324747	usd
CY2024Q2	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	6175	usd
CY2023Q4	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	44195	usd
	us-gaap	Use Of Estimates UseOfEstimates	<p id="xdx_841_eus-gaap--UseOfEstimates_ztMfOfhu4Ncl" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_866_z34QcYwIzoDl">Use of Estimates</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of condensed consolidated financial statements in conformity with GAAP 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 expenses during the reporting period. Some of these judgments can be subjective and complex, and, consequently, actual results may differ from these estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<p id="xdx_84F_eus-gaap--ConcentrationRiskCreditRisk_zIhGgfTSOMK7" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_864_zOPRVfazD9vc">Concentrations of Credit and Business Risk</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Financial instruments that potentially subject the Company to concentrations of credit risk primarily consist of trade receivables. Credit risk on trade receivables is mitigated as a result of the Company’s use of trade letters of credit, dealer floor plan financing arrangements, and the geographically diversified nature of the Company’s customer base. The Company minimizes the concentration of credit risk associated with its cash by maintaining its cash with high quality federally insured financial institutions. However, cash balances in excess of the Federal Deposit Insurance Corporation (“FDIC”) insured limit of $<span id="xdx_907_eus-gaap--CashFDICInsuredAmount_pp0p0_c20240630_z7SkGV5x1cN4" title="FDIC insured limit">250,000</span> are at risk. As of June 30, 2024 and December 31, 2023, the Company had $<span id="xdx_90F_eus-gaap--CashUninsuredAmount_pp0p0_c20240630_zRViFm8xYgki" title="FDIC uninsured amount">12,837,154</span> and $<span id="xdx_900_eus-gaap--CashUninsuredAmount_pp0p0_c20231231_zvgJiOXj0253" title="FDIC uninsured amount">15,868,574</span>, respectively, in excess of FDIC insured limits.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
CY2024Q2	us-gaap	Cash Fdic Insured Amount CashFDICInsuredAmount	250000	usd
CY2024Q2	us-gaap	Cash Uninsured Amount CashUninsuredAmount	12837154	usd
CY2023Q4	us-gaap	Cash Uninsured Amount CashUninsuredAmount	15868574	usd
CY2024Q2	VEEE	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalent CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalent	14138337	usd
CY2023Q4	VEEE	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalent CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalent	16755233	usd
CY2024Q2	us-gaap	Restricted Cash RestrictedCash	210876	usd
CY2023Q4	us-gaap	Restricted Cash RestrictedCash	257530	usd
	us-gaap	Inventory Write Down InventoryWriteDown	708688	usd
CY2023	us-gaap	Inventory Write Down InventoryWriteDown	419616	usd
CY2024Q2	us-gaap	Asset Impairment Charges AssetImpairmentCharges	1674000	usd
	us-gaap	Advertising Expense AdvertisingExpense	127580	usd
	us-gaap	Advertising Expense AdvertisingExpense	241702	usd
	us-gaap	Other Research And Development Expense OtherResearchAndDevelopmentExpense	494475	usd
	us-gaap	Other Research And Development Expense OtherResearchAndDevelopmentExpense	964121	usd
	VEEE	Shipping And Handling Costs ShippingAndHandlingCosts	204778	usd
	VEEE	Shipping And Handling Costs ShippingAndHandlingCosts	395767	usd
	VEEE	Accounts Payable Related Party AccountsPayableRelatedParty	3289093	usd
	VEEE	Accounts Payable Related Party AccountsPayableRelatedParty	3562550	usd
CY2024Q2	VEEE	Employee Retention Credit EmployeeRetentionCredit	0	usd
CY2023Q2	VEEE	Employee Retention Credit EmployeeRetentionCredit	937482	usd
	VEEE	Employee Retention Credit EmployeeRetentionCredit	1267055	usd
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	us-gaap	Other Depreciation And Amortization OtherDepreciationAndAmortization	502838	usd
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CY2023Q4	us-gaap	Contractual Obligation ContractualObligation	10510252	usd
CY2024Q2	us-gaap	Restricted Cash RestrictedCash	210876	usd
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	VEEE	Net Loss NetLoss	-3732208	usd
	us-gaap	Asset Impairment Charges AssetImpairmentCharges	1674000	usd
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Files In Submission

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0001731122-24-001254-index.html	Edgar Link	pending
0001731122-24-001254.txt	Edgar Link	pending
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$VEEE
Twin Vee PowerCats, Co. Stock $veee

2024 Q3 Form 10-Q Financial Statement

#000173112224001254 Filed on August 14, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$VEEE Twin Vee PowerCats, Co. Stock $veee

2024 Q3 Form 10-Q Financial Statement

#000173112224001254 Filed on August 14, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$VEEE
Twin Vee PowerCats, Co. Stock $veee