v3.22.2.2
Condensed Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Successor [Member]    
Cash Flows From Operating Activities    
Net loss $ (2,209,238)  
Adjustments to reconcile net loss:    
Depreciation expense of property and equipment 37,816  
Stock based compensation 158,705  
 Loss on disposal of assets 31,582  
Prepaid expenses and other current assets (358,208)  
Accounts payable 26,151  
Contract liabilities – customer deposits 4,900  
Accrued liabilities (23,438)  
Net cash (used in) provided by operating activities (2,331,730)  
Cash Flows From Investing Activities    
 Insurance proceeds  
Purchase of property and equipment (465,086)  
Net cash used in investing activities (465,086)  
Cash Flows From Financing Activities    
 Net proceeds from issuance of common stock 15,231,350  
 Deferred offering costs (296,361)  
Capital contributions from Twin Vee 500,000  
Repayments of advances from Twin Vee parent (890,198)  
Advances from Twin Vee 389,446  
Net cash provided by financing activities 14,934,237  
Net change in cash and cash equivalents 12,137,421  
Cash and cash equivalents at beginning of period 1,803,285  
Cash and cash equivalents at end of period 13,940,706  
Supplemental Cash Flow Information    
Cash paid for income taxes  
Cash paid for interest $ 1,970  
Predecessor [Member]    
Cash Flows From Operating Activities    
Net loss   $ (186,070)
Adjustments to reconcile net loss:    
Depreciation expense of property and equipment   133
Stock based compensation  
 Loss on disposal of assets   190,252
Prepaid expenses and other current assets  
Accounts payable  
Contract liabilities – customer deposits  
Accrued liabilities   9,560
Net cash (used in) provided by operating activities   13,875
Cash Flows From Investing Activities    
 Insurance proceeds   130,000
Purchase of property and equipment   (492,947)
Net cash used in investing activities   (362,947)
Cash Flows From Financing Activities    
 Net proceeds from issuance of common stock  
 Deferred offering costs  
Capital contributions from Twin Vee   349,072
Repayments of advances from Twin Vee parent   0
Advances from Twin Vee  
Net cash provided by financing activities   349,072
Net change in cash and cash equivalents  
Cash and cash equivalents at beginning of period  
Cash and cash equivalents at end of period  
Supplemental Cash Flow Information    
Cash paid for income taxes  
Cash paid for interest   $ 8,488

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