S-1 Filing

Twin Vee PowerCats, Co. CIK: 1855509

Filing Information

Form Type	S-1
Accession Number	`0001731122-21-000553`
Period End Date	20201231
Filing Date	20210408
Fiscal Year	N/A
Fiscal Period	N/A
XBRL Instance	tvpc-20201231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 34 Cash Flow Statement 54 Stockholders Equity 10

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	10,000.00	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	10,000.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$215.57K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$891.82K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	100.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.75K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	100.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$704.16K	USD	Point-in-time
Inventories, net	`InventoryNet`	$936.68K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	100.00	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	100.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$31.45K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$12.20K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.86M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$931.93K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.33M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.37M	USD	Point-in-time
Operating right of use asset	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Operating right of use asset	`OperatingLeaseRightOfUseAsset`	$1.28M	USD	Point-in-time
Total assets	`Assets`	$4.50M	USD	Point-in-time
Total assets	`Assets`	$2.26M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$863.64K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$799.28K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$235.78K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$160.89K	USD	Point-in-time
Contract liability	`ContractWithCustomerLiabilityCurrent`	$6.78K	USD	Point-in-time
Contract liability	`ContractWithCustomerLiabilityCurrent`	$71.50K	USD	Point-in-time
Warranty reserve	`ProductWarrantyAccrualClassifiedCurrent`	$75.00K	USD	Point-in-time
Warranty reserve	`ProductWarrantyAccrualClassifiedCurrent`	$75.00K	USD	Point-in-time
Capital leases	`CapitalLeaseObligationsCurrent`	-	USD	Point-in-time
Capital leases	`CapitalLeaseObligationsCurrent`	$445.76K	USD	Point-in-time
Notes payable - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$27.85K	USD	Point-in-time
Notes payable - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	-	USD	Point-in-time
Liability right of use assets	`OperatingLeaseLiabilityCurrent`	$295.37K	USD	Point-in-time
Liability right of use assets	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.44M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.62M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$1.02M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Notes payable - EIDL loan	`NotesAndLoansPayable`	-	USD	Point-in-time
Notes payable - EIDL loan	`NotesAndLoansPayable`	$499.90K	USD	Point-in-time
Notes Payable - related party	`NotesPayableRelatedPartiesNoncurrent`	$525.50K	USD	Point-in-time
Notes Payable - related party	`NotesPayableRelatedPartiesNoncurrent`	-	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.14M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.96M	USD	Point-in-time
Common stock, $.01 par value, authorized shares 10,000; Issued and outstanding 100 and 100, respectively	`CommonStockValue`	$1.00	USD	Point-in-time
Common stock, $.01 par value, authorized shares 10,000; Issued and outstanding 100 and 100, respectively	`CommonStockValue`	$1.00	USD	Point-in-time
Additional Paid-in Capital	`AdditionalPaidInCapital`	$2.29M	USD	Point-in-time
Additional Paid-in Capital	`AdditionalPaidInCapital`	$2.56M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.18M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.01M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.55M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-812.19K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$115.61K	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$4.50M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$2.26M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$10.43M	USD	Annual
Net sales	`Revenues`	$11.06M	USD	Annual
Cost of products sold	`CostOfRevenue`	$6.35M	USD	Annual
Cost of products sold	`CostOfRevenue`	$6.29M	USD	Annual
Gross Profit	`GrossProfit`	$4.08M	USD	Annual
Gross Profit	`GrossProfit`	$4.77M	USD	Annual
Salaries and wages	`SalariesAndWages`	$2.86M	USD	Annual
Salaries and wages	`SalariesAndWages`	$3.24M	USD	Annual
Selling and administrative	`SellingGeneralAndAdministrativeExpense`	$872.67K	USD	Annual
Selling and administrative	`SellingGeneralAndAdministrativeExpense`	$786.55K	USD	Annual
Professional fees	`ProfessionalFees`	$167.30K	USD	Annual
Professional fees	`ProfessionalFees`	$95.19K	USD	Annual
Depreciation	`Depreciation`	$115.06K	USD	Annual
Depreciation	`Depreciation`	$155.73K	USD	Annual
Total operating costs	`OperatingExpenses`	$4.05M	USD	Annual
Total operating costs	`OperatingExpenses`	$4.24M	USD	Annual
Income / (Loss) from operations	`OperatingIncomeLoss`	$720.83K	USD	Annual
Income / (Loss) from operations	`OperatingIncomeLoss`	$-161.23K	USD	Annual
Gain on sale of assets	`GainsLossesOnSalesOfAssets`	-	USD	Annual
Gain on sale of assets	`GainsLossesOnSalesOfAssets`	$19.33K	USD	Annual
Forgiveness of PPP loan	`ForgivenessOfPppLoan`	$609.50K	USD	Annual
Forgiveness of PPP loan	`ForgivenessOfPppLoan`	-	USD	Annual
Interest expense	`InterestExpense`	$178.58K	USD	Annual
Interest expense	`InterestExpense`	$165.47K	USD	Annual
Total other income (expense), net	`NonoperatingIncomeExpense`	$450.24K	USD	Annual
Total other income (expense), net	`NonoperatingIncomeExpense`	$-165.47K	USD	Annual
Net income / (loss) before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-326.69K	USD	Annual
Net income / (loss) before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.17M	USD	Annual
Net income / (loss)	`NetIncomeLoss`	$-326.69K	USD	Annual
Net income / (loss)	`NetIncomeLoss`	$1.17M	USD	Annual
Basic and diluted income / (loss) per common share	`EarningsPerShareBasicAndDiluted`	$11.71K	USD	Annual
Basic and diluted income / (loss) per common share	`EarningsPerShareBasicAndDiluted`	$-3.27K	USD	Annual
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	100.00	shares	Annual
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	100.00	shares	Annual

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income / (loss)	`NetIncomeLoss`	$-326.69K	USD	Annual
Net income / (loss)	`NetIncomeLoss`	$1.17M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$155.73K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$115.06K	USD	Annual
Gain on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$19.33K	USD	Annual
Gain on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	Annual
Amortization of operating right of use asset	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$307.14K	USD	Annual
Amortization of operating right of use asset	`OperatingLeaseRightOfUseAssetAmortizationExpense`	-	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-74.45K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$232.52K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-163.06K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$19.25K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$12.20K	USD	Annual
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	Annual
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$-10.72K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-64.36K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-103.19K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$74.89K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-6.22K	USD	Annual
Contract Liability	`IncreaseDecreaseInContractWithCustomerLiability`	$-64.40K	USD	Annual
Contract Liability	`IncreaseDecreaseInContractWithCustomerLiability`	$-64.72K	USD	Annual
Due to related party	`IncreaseDecreaseInDueToRelatedParties`	-	USD	Annual
Due to related party	`IncreaseDecreaseInDueToRelatedParties`	$-119.98K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.31M	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-269.40K	USD	Annual
Proceeds from sale of equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$349.74K	USD	Annual
Proceeds from sale of equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$675.74K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$525.20K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-175.45K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-675.74K	USD	Annual
Capital contributions from Parent, net	`ProceedsFromContributionsFromParent`	$262.16K	USD	Annual
Capital contributions from Parent, net	`ProceedsFromContributionsFromParent`	$1.25M	USD	Annual
Proceeds from EIDL Loan	`ProceedsFromLoans`	$499.90K	USD	Annual
Proceeds from EIDL Loan	`ProceedsFromLoans`	-	USD	Annual
Repayment of note payable related party	`RepaymentsOfNotesPayable`	-	USD	Annual
Repayment of note payable related party	`RepaymentsOfNotesPayable`	$497.65K	USD	Annual
Operating lease liabilities	`OperatingLeaseLiabilities`	$-275.61K	USD	Annual
Operating lease liabilities	`OperatingLeaseLiabilities`	$-117.53K	USD	Annual
Payment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$445.76K	USD	Annual
Payment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	-	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.14M	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-456.96K	USD	Annual
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$191.82K	USD	Annual
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$676.24K	USD	Annual
Cash at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$215.57K	USD	Point-in-time
Cash at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$891.82K	USD	Point-in-time
Cash at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$23.75K	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$215.57K	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$891.82K	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$23.75K	USD	Point-in-time
Operating right of use assets obtained in exchange for operating lease liabilities	`OperatingRightOfUseAssetsObtainedInExchangeForOperatingLeaseLiabilities`	-	USD	Annual
Operating right of use assets obtained in exchange for operating lease liabilities	`OperatingRightOfUseAssetsObtainedInExchangeForOperatingLeaseLiabilities`	$1.59M	USD	Annual

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$1.55M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-812.19K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$115.61K	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-326.69K	USD	Annual
Net loss	`NetIncomeLoss`	$1.17M	USD	Annual
Capital contribution of advances from parent	`ProceedsFromContributionsFromParent`	$262.16K	USD	Annual
Capital contribution of advances from parent	`ProceedsFromContributionsFromParent`	$1.25M	USD	Annual
Ending balance, value	`StockholdersEquity`	$1.55M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-812.19K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$115.61K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.