2024 Q4 Form 10-Q Financial Statement

#000173112224001808 Filed on November 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $2.901M $8.077M
YoY Change -64.08% -8.35%
Cost Of Revenue $3.047M $5.541M
YoY Change -45.01% 1.16%
Gross Profit -$145.7K $2.535M
YoY Change -105.75% -23.96%
Gross Profit Margin -5.02% 31.39%
Selling, General & Admin $764.8K $984.9K
YoY Change -22.35% 39.24%
% of Gross Profit 38.85%
Research & Development $89.40K $63.87K
YoY Change 39.98% -77.51%
% of Gross Profit 2.52%
Depreciation & Amortization $440.5K $341.8K
YoY Change 28.85% 98.05%
% of Gross Profit 13.48%
Operating Expenses $2.844M $5.315M
YoY Change -46.5% 26.81%
Operating Profit -$2.989M -$2.779M
YoY Change 7.55% 224.34%
Interest Expense $101.4K $98.90K
YoY Change 2.56% 87.03%
% of Operating Profit
Other Income/Expense, Net -$20.68K $335.4K
YoY Change -106.16% -1212.52%
Pretax Income -$3.010M -$2.444M
YoY Change 23.15% 175.5%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.512M -$2.444M
YoY Change 2.79% 175.5%
Net Earnings / Revenue -86.59% -30.26%
Basic Earnings Per Share -$0.26 -$0.20
Diluted Earnings Per Share -$0.26 -$0.20
COMMON SHARES
Basic Shares Outstanding 9.520M shares 9.520M shares 9.520M shares
Diluted Shares Outstanding 9.520M shares 9.520M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.14M $24.01M
YoY Change -53.58% 4.89%
Cash & Equivalents $11.14M $12.40M
Short-Term Investments $0.00 $11.60M
Other Short-Term Assets $761.0K $550.3K
YoY Change 38.3% -63.56%
Inventory $3.343M $8.135M
Prepaid Expenses
Receivables $129.5K $508.5K
Other Receivables $0.00 $0.00
Total Short-Term Assets $15.38M $32.72M
YoY Change -53.0% 24.67%
LONG-TERM ASSETS
Property, Plant & Equipment $14.22M $10.05M
YoY Change 41.42% 110.55%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $476.6K
YoY Change -83.63%
Other Assets $48.71K $49.17K
YoY Change -0.94% 96.68%
Total Long-Term Assets $14.76M $11.55M
YoY Change 27.77% 28.73%
TOTAL ASSETS
Total Short-Term Assets $15.38M $32.72M
Total Long-Term Assets $14.76M $11.55M
Total Assets $30.14M $44.28M
YoY Change -31.93% 25.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.958M $3.634M
YoY Change -46.12% 88.51%
Accrued Expenses $1.196M $965.5K
YoY Change 23.87% 79.36%
Deferred Revenue $38.18K $14.26K
YoY Change 167.73% -98.61%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $220.1K $213.1K
YoY Change 3.28%
Total Short-Term Liabilities $3.843M $5.327M
YoY Change -27.85% 33.31%
LONG-TERM LIABILITIES
Long-Term Debt $2.980M $3.199M
YoY Change -6.84% 539.84%
Other Long-Term Liabilities $109.3K $540.5K
YoY Change -79.77% -43.08%
Total Long-Term Liabilities $3.089M $3.739M
YoY Change -17.39% 157.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.843M $5.327M
Total Long-Term Liabilities $3.089M $3.739M
Total Liabilities $6.932M $9.066M
YoY Change -23.53% 66.5%
SHAREHOLDERS EQUITY
Retained Earnings -$21.49M -$11.52M
YoY Change 86.59% 158.97%
Common Stock $9.520K $9.520K
YoY Change 0.0% 35.61%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $17.39M $25.87M
YoY Change
Total Liabilities & Shareholders Equity $30.14M $44.28M
YoY Change -31.93% 25.7%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$2.512M -$2.444M
YoY Change 2.79% 175.5%
Depreciation, Depletion And Amortization $440.5K $341.8K
YoY Change 28.85% 98.05%
Cash From Operating Activities -$2.407M -$3.500M
YoY Change -31.23% 152.15%
INVESTING ACTIVITIES
Capital Expenditures $1.329M $793.1K
YoY Change 67.62% -235.65%
Acquisitions
YoY Change
Other Investing Activities $1.009M -$9.619M
YoY Change -110.49% -1061.86%
Cash From Investing Activities -$320.0K -$10.40M
YoY Change -96.92% -2604.55%
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 -27.66K
YoY Change 93.56% -100.18%
NET CHANGE
Cash From Operating Activities -2.407M -3.500M
Cash From Investing Activities -320.0K -10.40M
Cash From Financing Activities -53.54K -27.66K
Net Change In Cash -2.780M -13.93M
YoY Change -80.04% -199.04%
FREE CASH FLOW
Cash From Operating Activities -$2.407M -$3.500M
Capital Expenditures $1.329M $793.1K
Free Cash Flow -$3.736M -$4.293M
YoY Change -12.97% 434.35%

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WeightedAverageNumberOfDilutedSharesOutstanding
9520000 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9520000 shares
CY2023Q3 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
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CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition
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CY2023Q1 us-gaap Profit Loss
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-1828465 usd
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2023Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition
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CY2023Q2 us-gaap Profit Loss
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CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition
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CY2023Q3 us-gaap Profit Loss
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CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition
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426283 usd
CY2024Q1 us-gaap Profit Loss
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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
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CY2024Q2 us-gaap Profit Loss
ProfitLoss
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CY2024Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
25939252 usd
CY2024Q3 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition
278867 usd
CY2024Q3 us-gaap Profit Loss
ProfitLoss
-3009907 usd
CY2024Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
23208211 usd
us-gaap Profit Loss
ProfitLoss
-9864298 usd
us-gaap Profit Loss
ProfitLoss
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us-gaap Share Based Compensation
ShareBasedCompensation
1022894 usd
us-gaap Share Based Compensation
ShareBasedCompensation
1436885 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
1300697 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
844665 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
359246 usd
VEEE Change Of Rightofuse Asset And Lease Liabilities
ChangeOfRightofuseAssetAndLeaseLiabilities
355519 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
50097 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-0 usd
VEEE Gain Loss On Sale Of Property Plant Equipments
GainLossOnSaleOfPropertyPlantEquipments
-172564 usd
VEEE Gain Loss On Sale Of Property Plant Equipments
GainLossOnSaleOfPropertyPlantEquipments
-0 usd
VEEE Net Change In Fair Value Of Marketable Securities
NetChangeInFairValueOfMarketableSecurities
5204 usd
VEEE Net Change In Fair Value Of Marketable Securities
NetChangeInFairValueOfMarketableSecurities
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VEEE Change In Inventory Reserve
ChangeInInventoryReserve
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VEEE Change In Inventory Reserve
ChangeInInventoryReserve
0 usd
us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
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us-gaap Increase Decrease In Operating Lease Liability
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us-gaap Increase Decrease In Operating Lease Liability
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us-gaap Increase Decrease In Contract With Customer Liability
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us-gaap Increase Decrease In Contract With Customer Liability
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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-6930130 usd
VEEE Payment To Security Deposit
PaymentToSecurityDeposit
-2707 usd
VEEE Payment To Security Deposit
PaymentToSecurityDeposit
16650 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
23747 usd
VEEE Net Sales Purchases Of Investment In Marketable Securities
NetSalesPurchasesOfInvestmentInMarketableSecurities
-4503356 usd
VEEE Net Sales Purchases Of Investment In Marketable Securities
NetSalesPurchasesOfInvestmentInMarketableSecurities
8608148 usd
us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
6000 usd
us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
0 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5044742 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2413119 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-567889 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-11061664 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
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
190565 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
37214 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-190565 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-5397341 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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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
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11357892 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12401551 usd
us-gaap Interest Paid Net
InterestPaidNet
327879 usd
us-gaap Interest Paid Net
InterestPaidNet
113523 usd
VEEE Increase In Rightofuse Asset And Lease Liability
IncreaseInRightofuseAssetAndLeaseLiability
31572 usd
VEEE Increase In Rightofuse Asset And Lease Liability
IncreaseInRightofuseAssetAndLeaseLiability
2948991 usd
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
11144929 usd
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
12146619 usd
CY2024Q3 us-gaap Restricted Cash
RestrictedCash
212963 usd
CY2023Q3 us-gaap Restricted Cash
RestrictedCash
254932 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11357892 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12401551 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
1674000 usd
CY2023Q3 VEEE Increase In Cost Of Sales
IncreaseInCostOfSales
1929720 usd
VEEE Increase In Cost Of Sales
IncreaseInCostOfSales
4866739 usd
CY2024Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
38175 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
44195 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_840_eus-gaap--UseOfEstimates_zqZPV1zqZ3Ef" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_86A_z1IMFFuj3nq7">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_84E_eus-gaap--ConcentrationRiskCreditRisk_zSTlVPb6emcl" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_869_zhjHFGosVlOg">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_900_eus-gaap--CashFDICInsuredAmount_pp0p0_c20240930_zQJuW6eSyqh5" title="FDIC insured limit">250,000</span> are at risk. As of September 30, 2024 and December 31, 2023, the Company had $<span id="xdx_909_eus-gaap--CashUninsuredAmount_pp0p0_c20240930_zchD5gTXwc6i" title="FDIC uninsured amount">10,414,162</span> and $<span id="xdx_900_eus-gaap--CashUninsuredAmount_pp0p0_c20231231_zaRku59rnUO3" 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>
CY2024Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2024Q3 us-gaap Cash Uninsured Amount
CashUninsuredAmount
10414162 usd
CY2023Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
15868574 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11357892 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
16755233 usd
CY2024Q3 us-gaap Restricted Cash
RestrictedCash
212963 usd
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
257530 usd
us-gaap Inventory Write Down
InventoryWriteDown
126557 usd
CY2023 us-gaap Inventory Write Down
InventoryWriteDown
419616 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
1674000 usd
CY2024Q3 us-gaap Advertising Expense
AdvertisingExpense
24196 usd
CY2023Q3 us-gaap Advertising Expense
AdvertisingExpense
129592 usd
us-gaap Advertising Expense
AdvertisingExpense
151776 usd
us-gaap Advertising Expense
AdvertisingExpense
374059 usd
CY2024Q3 us-gaap Other Research And Development Expense
OtherResearchAndDevelopmentExpense
89403 usd
CY2023Q3 us-gaap Other Research And Development Expense
OtherResearchAndDevelopmentExpense
63867 usd
us-gaap Other Research And Development Expense
OtherResearchAndDevelopmentExpense
583878 usd
us-gaap Other Research And Development Expense
OtherResearchAndDevelopmentExpense
930497 usd
CY2024Q3 VEEE Shipping And Handling Costs
ShippingAndHandlingCosts
57149 usd
CY2023Q3 VEEE Shipping And Handling Costs
ShippingAndHandlingCosts
144388 usd
VEEE Shipping And Handling Costs
ShippingAndHandlingCosts
261927 usd
VEEE Shipping And Handling Costs
ShippingAndHandlingCosts
540155 usd
VEEE Accounts Payable Related Party
AccountsPayableRelatedParty
4414169 usd
VEEE Accounts Payable Related Party
AccountsPayableRelatedParty
5654582 usd
VEEE Employee Retention Credit
EmployeeRetentionCredit
0 usd
VEEE Employee Retention Credit
EmployeeRetentionCredit
1267055 usd
CY2023Q4 VEEE Marketable Securities Amortized Cost
MarketableSecuritiesAmortizedCost
4473033 usd
CY2023Q4 VEEE Marketable Securities Gross Unrealized Gains
MarketableSecuritiesGrossUnrealizedGains
50878 usd
CY2023Q4 VEEE Marketable Securities Gross Unrealized Losses
MarketableSecuritiesGrossUnrealizedLosses
-60969 usd
CY2023Q4 us-gaap Investments Fair Value Disclosure
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4462942 usd
CY2023Q4 us-gaap Marketable Securities
MarketableSecurities
4462942 usd
CY2024Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
3206838 usd
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
5001512 usd
CY2024Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
119339 usd
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
96721 usd
CY2024Q3 us-gaap Inventory Finished Goods
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143848 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
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CY2024Q3 us-gaap Inventory Gross
InventoryGross
3470025 usd
CY2023Q4 us-gaap Inventory Gross
InventoryGross
5304377 usd
CY2024Q3 VEEE Reserve For Excess And Obsolete
ReserveForExcessAndObsolete
126557 usd
CY2023Q4 VEEE Reserve For Excess And Obsolete
ReserveForExcessAndObsolete
419616 usd
CY2024Q3 us-gaap Inventory Net
InventoryNet
3343468 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
4884761 usd
CY2024Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
17841637 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
14676820 usd
CY2024Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3624596 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2382832 usd
CY2024Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14217041 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12293988 usd
CY2024Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
440458 usd
CY2023Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
341826 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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CY2024Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
220103 usd
CY2023Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
214715 usd
CY2024Q3 us-gaap Finance Lease Liability Noncurrent
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2479742 usd
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
2644123 usd
CY2024Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
2699845 usd
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
2858838 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
75670 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
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CY2024Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
296030 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
292928 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
2023534 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
2986410 usd
CY2024Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
286565 usd
CY2024Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
2699845 usd
CY2024Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0302 pure
CY2024Q3 us-gaap Lessee Finance Lease Remaining Lease Term
LesseeFinanceLeaseRemainingLeaseTerm
P3Y7M17D
CY2024Q3 us-gaap Accrued Salaries Current
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86987 usd
CY2023Q4 us-gaap Accrued Salaries Current
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343511 usd
CY2024Q3 us-gaap Interest Payable Current
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93923 usd
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
33245 usd
CY2024Q3 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
329468 usd
CY2023Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
0 usd
CY2024Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
29130 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
0 usd
CY2024Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
470320 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
115037 usd
CY2024Q3 VEEE Accrued Consturction Expense
AccruedConsturctionExpense
0 usd
CY2023Q4 VEEE Accrued Consturction Expense
AccruedConsturctionExpense
390825 usd
CY2024Q3 us-gaap Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
186154 usd
CY2023Q4 us-gaap Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
192894 usd
CY2024Q3 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
1195982 usd
CY2023Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
1075512 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
0 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
6611 usd
CY2024Q3 VEEE Long Term Debt Maturities Repayments Of Principal After Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearThree
493289 usd
CY2024Q3 us-gaap Long Term Debt
LongTermDebt
499900 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
7500 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
12500 usd
CY2024Q3 us-gaap Contractual Obligation
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12404194 usd
CY2023Q4 us-gaap Contractual Obligation
ContractualObligation
10510252 usd
CY2024Q3 us-gaap Restricted Cash
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212963 usd
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
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CY2024Q3 us-gaap Revenues
Revenues
2901318 usd
CY2024Q3 us-gaap Cost Of Revenue
CostOfRevenue
3046975 usd
CY2024Q3 VEEE Operating Expense
OperatingExpense
2843573 usd
CY2024Q3 VEEE Income Loss From Operations
IncomeLossFromOperations
-2989230 usd
CY2024Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-20677 usd
CY2024Q3 VEEE Net Loss
NetLoss
-3009907 usd
CY2023Q3 us-gaap Revenues
Revenues
8076545 usd
CY2023Q3 us-gaap Cost Of Revenue
CostOfRevenue
7471034 usd
CY2023Q3 VEEE Operating Expense
OperatingExpense
3384934 usd
CY2023Q3 VEEE Income Loss From Operations
IncomeLossFromOperations
-2779423 usd
CY2023Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
335414 usd
CY2023Q3 VEEE Net Loss
NetLoss
-2444009 usd
us-gaap Revenues
Revenues
12504482 usd
us-gaap Cost Of Revenue
CostOfRevenue
12170486 usd
VEEE Operating Expense
OperatingExpense
10525509 usd
VEEE Income Loss From Operations
IncomeLossFromOperations
-10191513 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
327215 usd
VEEE Net Loss
NetLoss
-9864298 usd
us-gaap Revenues
Revenues
24980902 usd
us-gaap Cost Of Revenue
CostOfRevenue
21928093 usd
VEEE Operating Expense
OperatingExpense
11245982 usd
VEEE Income Loss From Operations
IncomeLossFromOperations
-8193173 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2016956 usd
VEEE Net Loss
NetLoss
-6176217 usd
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0001731122-24-001808.txt Edgar Link pending
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e6124_10-q.htm Edgar Link pending
e6124_ex31-1.htm Edgar Link pending
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report.css Edgar Link pending
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veee-20240930.xsd Edgar Link pending
veee-20240930_cal.xml Edgar Link unprocessable
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e6124_10-q_htm.xml Edgar Link completed