Reported Earnings • May 11
First quarter 2026 earnings released: US$12.93 loss per share (vs US$40.06 loss in 1Q 2025) First quarter 2026 results: US$12.93 loss per share. Revenue: US$3.96m (up 9.8% from 1Q 2025). Net loss: US$2.09m (loss widened 30% from 1Q 2025). Tillkännagivande • Apr 04
Twin Vee PowerCats Co Receives Notice of Nasdaq Delisting Due to Failure to Meet Bid Price Requirement On April 2, 2026, Twin Vee PowerCats Co. (the Company) received written notice (the Notification Letter) from the staff of the Listing Qualifications Department (the Staff) of The Nasdaq Stock Market LLC (Nasdaq) notifying the Company that it no longer satisfies the $1.00 bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of thirty (30) consecutive business days (collectively, the Bid Price Rule). Based on the closing bid price of the Company's common stock, par value $0.001 per share (the Common Stock), for the thirty (30) consecutive business days from February 18, 2026 to March 31, 2026, the Company no longer satisfies the Bid Price Rule. While companies are typically afforded a 180-calendar day compliance period to comply with the Bid Price Rule, the Notification Letter stated that, pursuant to Nasdaq Listing Rule 5810(c)(3)(A)(iv), the Company was not eligible for any compliance period specified in Nasdaq Listing Rule 5810(c)(3)(A) due to the fact that the Company effected a reverse stock split over the prior one-year period. The Company effected a 1-for-10 reverse stock split on April 7, 2025. The Notification Letter stated that the Company's securities will be subject to delisting from Nasdaq unless the Company timely requests a hearing before the Nasdaq Hearings Panel (the Panel) by April 9, 2026. Accordingly, the Company intends to timely request a hearing before the Panel, and at which point, such timely request will automatically stay any further suspension or delisting action by Nasdaq pending the Panel's decision. During the appeal process with the Panel, the Common Stock will continue to be listed and trade on Nasdaq. There can be no assurance that the Panel will grant the Company's request for continued listing or that the Company will be able to regain compliance and thereafter maintain its listing on Nasdaq. The Company intends to actively monitor the bid price of its Common Stock and is considering available options to regain compliance with the Nasdaq listing requirements, including such actions as effecting a reverse stock split to maintain its Nasdaq listing. Tillkännagivande • Mar 25
Twin Vee Powercats Co. has completed a Follow-on Equity Offering in the amount of $2.49289 million. Twin Vee Powercats Co. has completed a Follow-on Equity Offering in the amount of $2.49289 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 6,491,900
Price\Range: $0.384
Discount Per Security: $0.02688 Tillkännagivande • Mar 23
Twin Vee Powercats Co. has filed a Follow-on Equity Offering in the amount of $2.49289 million. Twin Vee Powercats Co. has filed a Follow-on Equity Offering in the amount of $2.49289 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 6,491,900
Price\Range: $0.384
Discount Per Security: $0.02688 Tillkännagivande • Mar 17
Twin Vee Powercats Co. has filed a Follow-on Equity Offering in the amount of $1.69974 million. Twin Vee Powercats Co. has filed a Follow-on Equity Offering in the amount of $1.69974 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 4,473,000
Price\Range: $0.38
Discount Per Security: $0.0266 Tillkännagivande • Mar 11
Twin Vee Powercats Co. has withdrawn its Follow-on Equity Offering. Twin Vee Powercats Co. has withdrawn its Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock Tillkännagivande • Mar 10
Twin Vee Powercats Co. has filed a Follow-on Equity Offering. Twin Vee Powercats Co. has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock Reported Earnings • Mar 02
Full year 2025 earnings released: US$4.37 loss per share (vs US$11.01 loss in FY 2024) Full year 2025 results: US$4.37 loss per share (improved from US$11.01 loss in FY 2024). Revenue: US$14.8m (up 3.0% from FY 2024). Net loss: US$8.61m (loss narrowed 22% from FY 2024). Tillkännagivande • Jan 10
Twin Vee Powercats Co. has filed a Follow-on Equity Offering. Twin Vee Powercats Co. has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 8,883,249
Security Name: Pre-Funded Warrants
Security Type: Equity Warrant
Securities Offered: 8,883,249 Board Change • Dec 08
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Marcia Kull was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 09
Third quarter 2025 earnings released: US$1.23 loss per share (vs US$2.64 loss in 3Q 2024) Third quarter 2025 results: US$1.23 loss per share. Revenue: US$3.43m (up 18% from 3Q 2024). Net loss: US$2.76m (loss widened 9.7% from 3Q 2024). Tillkännagivande • Oct 30
Twin Vee Powercats Co. to Report Q3, 2025 Results on Nov 06, 2025 Twin Vee Powercats Co. announced that they will report Q3, 2025 results on Nov 06, 2025 Tillkännagivande • Sep 25
Twin Vee Powercats Co. Appoints Scott Searles as Interim Chief Financial Officer Twin Vee Powercats Co. announced the appointment of Scott Searles as Interim Chief Financial Officer (CFO). Searles brings 20 years of corporate finance experience, including senior roles at Walmart Inc. and his current position as vice-president at The Nuclear Company. Reported Earnings • Aug 10
Second quarter 2025 earnings released: US$0.87 loss per share (vs US$3.09 loss in 2Q 2024) Second quarter 2025 results: US$0.87 loss per share (improved from US$3.09 loss in 2Q 2024). Revenue: US$4.76m (up 9.9% from 2Q 2024). Net loss: US$1.65m (loss narrowed 44% from 2Q 2024). Tillkännagivande • Jul 31
Twin Vee Powercats Co. to Report Q2, 2025 Results on Aug 07, 2025 Twin Vee Powercats Co. announced that they will report Q2, 2025 results on Aug 07, 2025 Tillkännagivande • Jun 23
Mike Dickerson to Resign as CFO of Twin Vee Powercats Co. on September 14, 2025 On June 17, 2025, Mike Dickerson, the Chief Financial Officer of Twin Vee PowerCats Co. notified the Company of his decision to resign, effective September 14, 2025, from his position as the Company's Chief Financial Officer. Tillkännagivande • May 10
Twin Vee Powercats Co. has completed a Follow-on Equity Offering in the amount of $3 million. Twin Vee Powercats Co. has completed a Follow-on Equity Offering in the amount of $3 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 750,000
Price\Range: $4 Reported Earnings • May 10
First quarter 2025 earnings released: US$1.08 loss per share (vs US$1.77 loss in 1Q 2024) First quarter 2025 results: US$1.08 loss per share (improved from US$1.77 loss in 1Q 2024). Revenue: US$3.61m (down 32% from 1Q 2024). Net loss: US$1.61m (loss narrowed 4.5% from 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has fallen by 52% per year, which means it is performing significantly worse than earnings. Tillkännagivande • May 09
Twin Vee Powercats Co. has filed a Follow-on Equity Offering. Twin Vee Powercats Co. has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock Tillkännagivande • Apr 04
Twin Vee Announces 1-For-10 Reverse Stock Split to Regain Compliance Twin Vee PowerCats Co. announced that it will implement a 1-for-10 reverse stock split of the issued and outstanding shares of the Company's common stock (the "Reverse Stock Split"), effective 11:59 p.m. Eastern Time on April 7, 2025, and the Company's common stock will begin trading on the Nasdaq Capital Market on a split-adjusted basis at the opening of the market on April 8, 2025 under the existing ticker symbol "VEEE." The primary purpose of the 1-for-10 Reverse Stock Split is to raise the per-share trading price of the Company's
common stock to allow for its continued listing on the Nasdaq Capital Market, among other benefits. The Nasdaq Capital Market requires, among other things, that a listing a company's common stock maintain a minimum bid price of at least $1.00 per share. Reported Earnings • Mar 21
Full year 2024 earnings released: US$1.10 loss per share (vs US$0.76 loss in FY 2023) Full year 2024 results: US$1.10 loss per share (further deteriorated from US$0.76 loss in FY 2023). Revenue: US$14.4m (down 57% from FY 2023). Net loss: US$11.0m (loss widened 54% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has fallen by 54% per year, which means it is performing significantly worse than earnings. Tillkännagivande • Mar 13
Twin Vee Powercats Co. to Report Fiscal Year 2024 Results on Mar 20, 2025 Twin Vee Powercats Co. announced that they will report fiscal year 2024 results on Mar 20, 2025 Tillkännagivande • Feb 11
Twin Vee Powercats Co. (NasdaqCM:VEEE) entered into a sale agreement to acquire Certain Intellectual Property from Revver Digital, LLC for $5 million. Twin Vee Powercats Co. (NasdaqCM:VEEE) entered into a sale agreement to acquire Certain Intellectual Property from Revver Digital, LLC for $5 million on February 4, 2025. The Sale Agreement grants Twin Vee Powercats Co. a license to use and sublicense the OWN Intellectual Property to conduct the Business in consideration of: (a) the payment to OWM of a monthly revenue-sharing royalty of six percent (6%) of the Aggregate Subscription Revenue of the Business; and (b) a credit to OWM of $500 per OWM dealer who lists boats or yachts on the Domains during such period. Twin Vee Powercats Co. will assume certain liabilities of OWM related to the Business and pay to OWM $5,000,000 (the “Minimum Purchase Price”), less the aggregate amount of all Revenue-Sharing Royalties paid to OWM through such date and the aggregate amount of all Dealer Storefront Credits accrued for the benefit of OWM through such date (the “Remaining Purchase Price”).
W. Lyle Gravatt of Michael Best & Friedrich LLP acted as legal advisor for Revver Digital, LLC. Tillkännagivande • Jan 24
Twin Vee Powercats Co. Announces Executive Changes On January 22, 2025, the Board of Directors of Twin Vee PowerCats Co. (the ‘Company”) appointed Joseph Visconti to serve as President of the Company, effective immediately. This appointment is in connection with the resignation of Karl Zimmer on November 30, 2024. Joseph Visconti, 60, has been the Company’s Chief Executive Officer and Chair of the Board since 2015. Prior to this appointment, he also served as President of the Company from 2015 until July 2024. With over 25 years of executive level operational and financial experience, Mr. Visconti was the founder, CEO and President of two previous companies, the first company was a regional Investment Bank that he built to over 400 employees and sold in 2000. The second company was ValueRich, a financial media company that was taken public on the American Stock Exchange in 2007. ValueRich transitioned from media related business to Twin Vee PowerCats Inc. in 2015. Mr. Visconti has experience building teams of professionals with a focus on product development and bringing those products to market. Mr. Visconti received his Associate’s degree from Lynn University in 1984. New Risk • Dec 31
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 22% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 63% per year over the past 5 years. Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Market cap is less than US$10m (US$5.33m market cap). Minor Risk Less than 1 year of cash runway based on current free cash flow (-US$12m). Tillkännagivande • Dec 10
Twin Vee Powercats Co. Appoints Shawn Erb as Director of Sales and Dealer Relations Twin Vee PowerCats Co. announced that Shawn Erb, a seasoned sales and business development professional in the marine and recreational vehicle industries, has joined Twin Vee as its Director of Sales and Dealer Relations. In this role, Mr. Erb will lead the Company's sales operations, cultivate strong relationships with new and existing dealers across the United States and globally, and manage the sales, distribution, and support for the Company's product lines. Mr. Erb's new position is effective immediately. Most recently, Mr. Erb was the National Sales Manager for Four Winn's Boats, where he directed and managed the sales and business development strategy for Four Winn's & Wellcraft Brands in the Americas. He also served as the VP of Sales and Business Development for SHERP of North America, developing and supporting its North American dealer network. From 2016 to 2023, Mr. Erb worked at BRP Inc. in several roles, including Business Development Manager U.S. Southeast for BRP Inc.'s Marine Group Division, Field Operations Manager of the U.S. Powersports Division for Motorcycles, and Rider Education Manager for the U.S. His other notable roles include Production Manager at York Vehicle Operations for the Harley Davidson Motor Company, Operations Director/Regional Sales Manager for Premier Property Service of York, LLC, and Executive Consultant and International Sales Director for International Business Service Group.Mr. Erb graduated with a Master of Business Administration in Human Resource Management in 2021 and a Bachelor of Business Administration in 2017 from Wrexham Glyndwr University. Board Change • Dec 04
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Kevin Schuyler was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Nov 29
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 63% per year over the past 5 years. Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Market cap is less than US$10m (US$6.21m market cap). Minor Risks Less than 1 year of cash runway based on current free cash flow (-US$12m). Share price has been volatile over the past 3 months (16% average weekly change). Tillkännagivande • Nov 27
Twin Vee Powercats Co. (NasdaqCM:VEEE) completed the acquisition of remaining 55.57% stake in Forza X1, Inc. (NasdaqCM:FRZA). Twin Vee Powercats Co. (NasdaqCM:VEEE) entered into a definitive merger agreement to acquire remaining 55.57% stake in Forza X1, Inc. (NasdaqCM:FRZA) for $2.6 million on August 12, 2024. Under the terms of the merger agreement, each holder of Forza Common Stock (other than Twin Vee) will receive 0.611666275 shares of Twin Vee Common Stock in exchange for each share of Forza Common Stock that they own on the effective date of the merger for a maximum of 5,355,000 shares of Twin Vee Common Stock (no fractional shares will be issued) and the 7,000,000 shares of Forza Common Stock held by Twin Vee will be cancelled. The pre-closing securityholders of each of Twin Vee and Forza would beneficially own approximately 64% and 36% respectively of the outstanding shares of Twin Vee Common Stock following the closing of the merger. Upon the closing of the transaction, the merged company will operate under the Twin Vee PowerCats Co. name, and the company’s common stock is expected to continue to trade on NASDAQ under the current ticker symbol “VEEE.”. Upon closing of the transaction, Marcia Kull (a current board member of Forza) will be appointed to the Board of Directors of Twin Vee.
The transaction is subject to customary closing conditions, including the receipt of regulatory approvals, the approval of the Twin Vee and Forza shareholders, which approval shall include a majority of the shares present in person or by proxy excluding shares held by Twin Vee, authorization for listing on the Nasdaq Capital Market of the shares of Twin Vee common stock to be issued in the Merger, subject to official notice of issuance, resignation of certain officers and directors of Forza and effectiveness of the registration statement on Form S-4 for the Twin Vee common stock to be issued in the Merger. Following the recommendation of each of their special committees, the board of directors of both Twin Vee and Forza unanimously approved the merger agreement. The transaction is expected to close by the end of 2024. As of November 11, 2024, Forza X1 and Twin Vee shareholders approved the transaction.
Leslie Marlow of Blank Rome LLP acted as legal advisor to Twin Vee. Interwest Transfer Company, Inc. acted as transfer agent to Twin Vee. Houlihan Capital, LLC acted as financial advisor to Twin Vee Powercats and provided fairness opinion to the Twin Vee Board of Directors. Intelek Business Valuations & Advisory acted as financial advisor to Forza X1 and provided fairness opinion to the Forza X1 Board of Directors. Houlihan Capital’s fees to Twin Vee for services in connection with issuing the Opinion were $75,000.
Twin Vee Powercats Co. (NasdaqCM:VEEE) completed the acquisition of remaining 55.57% stake in Forza X1, Inc. (NasdaqCM:FRZA) on November 26, 2024. As a result of the Merger, a change in control of the Company occurred and the Company became a wholly-owned subsidiary of Twin Vee. Effective as of October 10, 2024, shares of Forza Common Stock were suspended from trading on the Nasdaq Capital Market (“Nasdaq”). In accordance with the terms of the Merger Agreement, at the Effective Time, Marcia Kull, Neill Ross and Kevin Schuyler resigned as directors of Forza. These resignations were not a result of any disagreement between Forza and the directors on any matter relating to Forza’s operations, policies or practices. Reported Earnings • Nov 17
Third quarter 2024 earnings released: US$0.26 loss per share (vs US$0.20 loss in 3Q 2023) Third quarter 2024 results: US$0.26 loss per share (further deteriorated from US$0.20 loss in 3Q 2023). Revenue: US$2.90m (down 64% from 3Q 2023). Net loss: US$2.51m (loss widened 35% from 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 53% per year whereas the company’s share price has fallen by 52% per year. Tillkännagivande • Nov 10
Twin Vee Powercats Receives Written Notification from Nasdaq Granting the Company's Request for 180-Day Extension to Regain Compliance with Nasdaq Listing Rule 5550(a)(2) As previously reported, on May 10, 2024, Twin Vee PowerCats Co. (the Company") received written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC (Nasdaq") notifying the Company that for the preceding 30 consecutive business days (March 28, 2024 through May 9, 2024), the Company's common stock did not maintain a minimum closing bid price of $1.00 (Minimum Bid Price Requirement") per share as required by Nasdaq Listing Rule 5550(a)(2). The Company was provided 180 calendar days, or until November 6, 2024, to regain compliance. The Company did not regain compliance with the Minimum Bid Price Requirement by November 6, 2024; however, on November 7, 2024, the Company received written notification from Nasdaq granting the Company's request for a 180-day extension to regain compliance with Nasdaq Listing Rule 5550(a)(2). Compliance may be achieved automatically and without further action if the closing bid price of the Company's common stock is at or above $1.00 for a minimum of ten consecutive business days at any time prior to May 5, 2025, Nasdaq will notify the Company that it has regained compliance with the Minimum Bid Price Requirement and the matter will be closed. If the Company does not regain compliance with the Minimum Bid Price Requirement by May 5, 2025, Nasdaq will provide written notification to the Company that its common stock will be delisted. At that time, the Company may appeal the relevant delisting determination to a hearings panel pursuant to the procedures set in the applicable Nasdaq Listing Rules. However, there can be no assurance that, if the Company does appeal the delisting determination by Nasdaq to the hearings panel, that such appeal would be successful. The Company intends to actively monitor the bid price of its common stock and is considering available options to regain compliance with the Nasdaq listing requirements, including such actions as effecting a reverse stock split to maintain its Nasdaq listing. Nasdaq's extension notice has no immediate effect on the listing or trading of the Company's common stock, which will continue to trade on The Nasdaq Capital Market under the symbol VEEE". Tillkännagivande • Nov 07
Twin Vee Powercats Co. to Report Q3, 2024 Results on Nov 14, 2024 Twin Vee Powercats Co. announced that they will report Q3, 2024 results on Nov 14, 2024 Tillkännagivande • Oct 09
Twin Vee Powercats Co., Annual General Meeting, Nov 13, 2024 Twin Vee Powercats Co., Annual General Meeting, Nov 13, 2024. Location: 3101 s. u.s. highway 1, fort pierce, florida 34982, United States Tillkännagivande • Sep 24
Twin Vee Powercats Co. Announces Appointment of Carol Hindsman as Chief Technology Officer Twin Vee PowerCats Co. announced the appointment of Carol Hindsman as its new Chief Technology Officer (CTO). Hindsman, an accomplished engineer and technology executive, will play a pivotal role in overseeing the development of Twin Vee's Pro-Direct Platform, an automotive-inspired online marketplace being designed to revolutionize the boat-buying process, improve customer satisfaction, and help expand its reach to more markets nationwide. Hindsman brings a wealth of experience to the Company. With a diverse career that includes startups, mid-size firms, and Fortune 500 companies, Hindsman has been a part of driving innovation at businesses such as G.E., WorldCom, and Ryder System Inc. Originally from Venezuela, she moved to the U.S. as a teenager and obtained a Bachelor's degree in Electrical Engineering from Florida International University, a Master's in Computer Engineering, and an MBA. As CTO, Hindsman will manage the development of the Pro-Direct Platform, which aims to elevate the boat buying experience with a suite of comprehensive and easy-to-use web-based tools. Reported Earnings • Aug 16
Second quarter 2024 earnings released: US$0.47 loss per share (vs US$0.14 loss in 2Q 2023) Second quarter 2024 results: US$0.47 loss per share (further deteriorated from US$0.14 loss in 2Q 2023). Revenue: US$4.33m (down 47% from 2Q 2023). Net loss: US$4.52m (loss widened 239% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 14 percentage points per year, which is a significant difference in performance. Tillkännagivande • Aug 13
Twin Vee Powercats Co. (NasdaqCM:VEEE) entered into a definitive merger agreement to acquire remaining 55.57% stake in Forza X1, Inc. (NasdaqCM:FRZA) for $2.6 million. Twin Vee Powercats Co. (NasdaqCM:VEEE) entered into a definitive merger agreement to acquire remaining 55.57% stake in Forza X1, Inc. (NasdaqCM:FRZA) for $2.6 million on August 12, 2024. Under the terms of the merger agreement, each holder of Forza Common Stock (other than Twin Vee) will receive 0.61166627 shares of Twin Vee Common Stock in exchange for each share of Forza Common Stock that they own on the effective date of the merger for a maximum of 5,355,000 shares of Twin Vee Common Stock (no fractional shares will be issued) and the 7,000,000 shares of Forza Common Stock held by Twin Vee will be cancelled. The pre-closing securityholders of each of Twin Vee and Forza would beneficially own approximately 64% and 36% respectively of the outstanding shares of Twin Vee Common Stock following the closing of the merger. Upon the closing of the transaction, the merged company will operate under the Twin Vee PowerCats Co. name, and the company’s common stock is expected to continue to trade on NASDAQ under the current ticker symbol “VEEE.”. Upon closing of the transaction, Marcia Kull (a current board member of Forza) will be appointed to the Board of Directors of Twin Vee.
The transaction is subject to customary closing conditions, including the receipt of regulatory approvals, the approval of the Twin Vee and Forza shareholders, which approval shall include a majority of the shares present in person or by proxy excluding shares held by Twin Vee, authorization for listing on the Nasdaq Capital Market of the shares of Twin Vee common stock to be issued in the Merger, subject to official notice of issuance, resignation of certain officers and directors of Forza and effectiveness of the registration statement on Form S-4 for the Twin Vee common stock to be issued in the Merger. Following the recommendation of each of their special committees, the board of directors of both Twin Vee and Forza unanimously approved the merger agreement. The transaction is expected to close by the end of 2024. Leslie Marlow of Blank Rome LLP acted as legal advisor to Twin Vee. Tillkännagivande • Aug 07
Twin Vee Powercats Co. to Report Q2, 2024 Results on Aug 14, 2024 Twin Vee Powercats Co. announced that they will report Q2, 2024 results on Aug 14, 2024 Tillkännagivande • Jul 15
Twin Vee Powercats Co. Announces Appointment of Karl Zimmer as President Twin Vee Powercats Co. announced the appointment of Karl Zimmer as President of the Company effective July 12, 2024. This strategic leadership change will enable Joseph Visconti, the current CEO who until the appointment also served as President, to dedicate his efforts towards expanding the Company's business, developing potential mergers and acquisitions, enhancing sales and marketing strategies, expanding investor relations, and steering the long-term vision of Twin Vee. Karl Zimmer's career spans nearly three decades, marked by significant accomplishments in various leadership roles. Most recently, he served as President of Florida Beef Inc., an operator of multiple protein plants, where he successfully increased daily production rates and achieved notable improvements in food safety and compliance. Before his tenure at Florida Beef, Mr. Zimmer was the founding President and CEO of a start-up, where he launched the business and led and accelerated its growth into one of the largest U.S. companies in its business segment and industry. Mr. Zimmer's operational expertise led to a large return for owners and a significant increase in company value within six years. Mr. Zimmer's experience also includes a number of executive leadership roles at General Cable, one of the world's largest wire and cable manufacturers at the time, where he managed global supply chain strategies and operations across multiple countries. His work there contributed to significant cost reductions and operational improvements, enhancing General Cable's profitability and efficiency. In his new role, Zimmer will oversee Twin Vee's day-to-day operations, ensuring the Company continues to deliver high-quality products and exceptional customer service. His leadership will support Twin Vee's ongoing commitment to operational excellence and he is expected to play a crucial role in executing the Company's growth strategies. According to Visconti, Twin Vee is committed to delivering unparalleled boating experiences to its customers. With the leadership and strategic focus of both Karl Zimmer and Joseph Visconti, the Company believes it is well-positioned to achieve its ambitious growth objectives and continue to set the standard in the power catamaran industry. Mr. Zimmer received a Bachelor of Science in Industrial Engineering degree from the University of Cincinnati in Ohio. Additionally, he is an Eagle Scout and has served in numerous volunteer/board roles for the Boy Scouts of America in Ohio and Georgia. Mr. Zimmer sits on the Dean's Advisory Council, College of Engineering and Applied Science, at the University of Cincinnati; and previously the College Advisory Council, College of Agricultural and Environmental Sciences, at the University of Georgia. Tillkännagivande • May 23
Twin Vee Powercats Co. Goes All-Digital, Tech-Forward with New GFX2 Models Twin Vee PowerCats Co. announced that its 2025 model lineup will include an all-digital platform for the first time in the Company's history. This latest addition to its all-new second generation GFX model line replaces the traditional mechanical switches and circuit breakers that have been utilized in Twin Vee's boats in the past and will work seamlessly with optional tech packages the Company plans to offer. The shift to an all-digital platform with a digital switching system represents significant upgrades in the design and functionality of the Company's boat models. According to Joseph Visconti, CEO and President of Twin Vee PowerCats Co., the all-new digital switching system enhances the reliability of the boat's power distribution system, ensuring a more dependable and efficient performance on the water. Reported Earnings • May 17
First quarter 2024 earnings released: US$0.18 loss per share (vs US$0.12 loss in 1Q 2023) First quarter 2024 results: US$0.18 loss per share (further deteriorated from US$0.12 loss in 1Q 2023). Revenue: US$5.28m (down 41% from 1Q 2023). Net loss: US$1.69m (loss widened 45% from 1Q 2023). Tillkännagivande • May 10
Twin Vee Powercats Co. to Report Q1, 2024 Results on May 15, 2024 Twin Vee Powercats Co. announced that they will report Q1, 2024 results Pre-Market on May 15, 2024 Tillkännagivande • Apr 25
Twin Vee Powercats Co. Details the Standards to Be Included in Its All-New Second Generation Gfx Model Line Twin Vee PowerCats Co. announced more details about its second-generation GFX model line (or GFX-2 for short). According to the Company, the heart of the GFX's transformation is the all-digital switching system, which replaces the traditional mechanical switches and circuit breakers used in years past. This upgrade increases the reliability of the boat's power distribution system and is more convenient and flexible for boat owners. Complementing this upgrade is the Command Center Console, which has been redesigned to improve the helm experience. Twin Vee also unveiled several updated features to enhance the fishing experience onboard. The Company also emphasized luxury amenities during the GFX-2's reimagining. According to Visconti, the GFX-2 will feature premium marine upholstery with luxury sport stitch patterns. Moreover, the bow seating will see the addition of forward-facing backrests so passengers can sit comfortably while underway. Carbon fiber fish box hatch-lids will also add to the refined look of the GFX-2. Tillkännagivande • Apr 24
Twin Vee PowerCats, Co. Appoints Tom Morford as Director of National Sales Twin Vee PowerCats Co. announced that it hired industry veteran Thomas Morford as its Director of National Sales to support its continued growth and enhance its presence in key national markets and other territories. Mr. Morford's new position is effective immediately. Thomas Morford joins Twin Vee with 22 years of experience in the marine industry. Mr. Morford was the regional sales manager for Iconic Marine Group where he actively recruited and worked with Fountain, Donzi, and Baja boat dealers across the country. He also worked as the regional sales manager for the Marquis Larson Boat Group, the Monterrey Boat Company, and Wellcraft Marine. In addition to sales, Mr. Morford founded Northern Maine Electronics in 2008. In 2019, he was director of e-commerce and special projects at The Samarian Group LLC Venture Capital and was responsible for overseeing and managing the e-commerce portions of all Samarian Group companies. Mr. Morford is also the owner and operator of Sport Fish Yacht Services, LLC for the past 16 years. Tillkännagivande • Apr 05
Twin Vee Powercats Co. Announces Executive Changes Twin Vee PowerCats Co. announced the appointment of Michael P. Dickerson as its chief financial & administrative officer, effective April 4, 2024. Mr. Dickerson succeeds former CFO Carrie Gunnerson, who was appointed in October 2021. Mr. Dickerson comes to Twin Vee with 35 years of corporate experience in multi-billion dollar publicly traded and private companies, including Dorman Products Inc., Aaron's Inc., Gannett Co. Inc., The Babcock & Wilcox Company, General Cable Corporation, and Belden Inc. He has spent most of his career in senior and executive level finance and operational roles including finance & accounting, treasury, investor relations & corporate communications, risk management, and other related roles. He most recently served in a consulting capacity at Savannah River Logistics as their Executive Vice President, Chief Financial & Administrative Officer, and Treasurer. Mr. Dickerson holds a Bachelor of Science in Business Administration in Accounting from the University of Dayton in Dayton, Ohio. Additionally, he is a member of the American Institute of Certified Public Accounts (AICPA), a member of the Ohio Society of Certified Public Accountants (OSCPA), and a Senior Roundtable Member of the National Investor Relations Institute (NIRI). Tillkännagivande • Apr 04
Twin Vee PowerCats Co. Launches Next Generation of its Successful GFX Model Line Twin Vee PowerCats Co. announced the launch of the all-new second generation of its GFX model line that features a multitude of design, styling, and technological innovations that is expected elevate the Twin Vee brand above its competitors as well as the impressive legacy of the first-generation of GFX boats. The second generation of the GFX model line, or GFX-2 for short, will feature five lengths ranging in size from 24 feet to 40 feet in length. Moreover, the GFX-2 now features an all-digital switching backbone and an updated electronics system, allowing customers to control their boat via a touch screen on a 24-inch multifunction display. The GFX-2 center console boats also benefit from a complete redesign, with improved upholstery, all-new ergonomics, increased fuel capacity, updated color options, and streamlined console framing. While all those upgrades now come standard on every new GFX-2 boat, Twin Vee also offers new options that integrate the latest innovations in navigation, fishing, and water sports. The Company's GFX model line was originally introduced in 2019 and earned several accolades in its five-year history from renowned publications such as Boat Trader and Motor Boat & Yachting. Taking what they've learned throughout the GFX's lifetime, Twin Vee's engineers, designers, and boat builders sought to improve its most popular model line to deliver an even better boating experience for its customers. The 26-foot 260 GFX-2 will be entering production next month, with the 280 and 340 GFX-2 to follow in June. The all-new 240 GFX-2 will then enter production in July. They will join the 400 GFX-2, which was upgraded earlier this year. Twin Vee plans to showcase the first 260 GFX-2 during its annual dealer meeting on May 20th in West Palm Beach. Reported Earnings • Mar 27
Full year 2023 earnings released: US$0.76 loss per share (vs US$0.67 loss in FY 2022) Full year 2023 results: US$0.76 loss per share (further deteriorated from US$0.67 loss in FY 2022). Revenue: US$33.4m (up 4.5% from FY 2022). Net loss: US$7.19m (loss widened 40% from FY 2022). Tillkännagivande • Mar 20
Twin Vee Powercats Co. to Report Fiscal Year 2023 Results on Mar 26, 2024 Twin Vee Powercats Co. announced that they will report fiscal year 2023 results at 10:00 AM, US Eastern Standard Time on Mar 26, 2024 New Risk • Feb 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 83% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (US$11.5m market cap). Tillkännagivande • Nov 10
Twin Vee Powercats Co. Announces Move to Bring Aquasport Boat Production to Its Factory in Fort Pierce, Florida Twin Vee PowerCats Co. announced a strategic consolidation of its operations by moving the manufacturing of Aquasport products from Tennessee to its Fort Pierce, Florida facility. According to the Company, the decision is driven by the desire to increase efficiency and implement cost-saving initiatives throughout its brands. Twin Vee's Fort Pierce factory is currently in the process of expanding its floor space by approximately 30,000 square feet, increasing the total area of its boat-building facility to nearly 100,000 square feet of production space. The Company plans to add another manufacturing line to increase its production output once the expansion is completed. Tillkännagivande • Nov 07
Twin Vee Powercats Co. to Report Q3, 2023 Results on Nov 13, 2023 Twin Vee Powercats Co. announced that they will report Q3, 2023 results on Nov 13, 2023 Tillkännagivande • Aug 18
Twin Vee Powercats Co., Annual General Meeting, Oct 12, 2023 Twin Vee Powercats Co., Annual General Meeting, Oct 12, 2023. Reported Earnings • Aug 15
Second quarter 2023 earnings released: US$0.20 loss per share (vs US$0.077 loss in 2Q 2022) Second quarter 2023 results: US$0.20 loss per share (further deteriorated from US$0.077 loss in 2Q 2022). Revenue: US$8.12m (down 4.6% from 2Q 2022). Net loss: US$1.90m (loss widened 253% from 2Q 2022). Revenue is forecast to grow 36% p.a. on average during the next 2 years, compared to a 4.1% growth forecast for the Leisure industry in the US. New Risk • Aug 12
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 112% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (112% increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$936k net loss next year). Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (US$30.6m market cap). Tillkännagivande • Aug 08
Twin Vee Powercats Co. to Report Q2, 2023 Results on Aug 14, 2023 Twin Vee Powercats Co. announced that they will report Q2, 2023 results on Aug 14, 2023 Reported Earnings • May 17
First quarter 2023 earnings released: US$0.12 loss per share (vs US$0.17 loss in 1Q 2022) First quarter 2023 results: US$0.12 loss per share (improved from US$0.17 loss in 1Q 2022). Revenue: US$8.88m (up 51% from 1Q 2022). Net loss: US$1.17m (loss narrowed 2.1% from 1Q 2022). Tillkännagivande • May 09
Twin Vee Powercats Co. to Report Q1, 2023 Results on May 15, 2023 Twin Vee Powercats Co. announced that they will report Q1, 2023 results at 9:30 AM, US Eastern Standard Time on May 15, 2023 Reported Earnings • Mar 31
Full year 2022 earnings released: US$0.76 loss per share (vs US$0.19 loss in FY 2021) Full year 2022 results: US$0.76 loss per share (further deteriorated from US$0.19 loss in FY 2021). Revenue: US$32.0m (up 103% from FY 2021). Net loss: US$5.79m (loss widened 473% from FY 2021). Tillkännagivande • Feb 16
Twin Vee PowerCats Co. Launches All-New Boat Brand "LFG Marine" Twin Vee PowerCats Co. announced the launch of LFG Marine, an all-new monohull boat brand that will feature unique, new, and versatile boat models initially geared toward the freshwater market but can also be enjoyed in saltwater environments. "LFG Marine is a bold new custom boat brand set to re-energize the world of watercraft. The Company is currently developing the following models for LFG Marine: 22' Center Console monohull; 25' Dual Console, single-engine day boat; 22' Dual Console monohull; 25' Deck Boat, single-engine. Additional plans for larger monohull boats ranging from 24 - 30 or more feet in length. The first boat released under the LFG Marine name will be the all-new twenty-two-foot center console monohull. The 220 LFG Center Console boasts a ninety-gallon fuel tank, a 26-gallon livewell, a 36-quart console cooler, and bow and floor storage boxes. Powered by a single outboard motor (150 HP standard or 200 HP optional), the 220 LFG offers a variety of options so customers can personalize their boats. For example, boat hulls can be customized with almost any Pantone color. Moreover, many options, including LED lighting packages and sound systems, will also be available based on customer preference. LFG Marine's boat model lineup will eventually include a 22-foot dual console center console, a 25-foot dual console, and a 25-foot deck boat. LFG's boats will be manufactured and shipped from the Company's Fort Pierce, Florida factory. The Company's newest boat brand seeks to benefit from some of the most recent trends in the recreational marine industry. According to a recent report from the National Marine Manufacturers' Association, segments driving growth in 2022 included entry-level boats such as personal watercraft, freshwater aluminum, and fiberglass fishing boats, as well as pontoon boats less than 26 feet. The NMMA's early indications point to continued healthy demand, with new retail boat sales expected to remain on par with 2022. Tillkännagivande • Jan 20
Twin Vee PowerCats, Co. Announces All-New Branded Apparel Twin Vee PowerCats Co. announced that it plans to launch its own line of Twin Vee branded apparel and accessories in the coming weeks. The inaugural collection includes trendy and expertly crafted clothing that is stylish, functional, and body-inclusive. Twin Vee Apparel will include a wide assortment of short-sleeved and long-sleeved t-shirts with various logos and graphics, hoodies, shorts, hats, visors, bags, water-resistant outwear, and several smaller branded accessories. The 2023 Twin Vee collection, which features a mix of men's, women's, and gender-neutral styles and accessories, will be available on the Company's website later this month. Tillkännagivande • Jan 18
Twin Vee Powercats Co. (NasdaqCM:VEEE) announces an Equity Buyback for $1 million worth of its shares. Twin Vee Powercats Co. (NasdaqCM:VEEE) announces a share repurchase program. Under the program, the company will repurchase up to $1 million worth of its shares. As of November 9, 2022, the company had 9,520,000 shares outstanding. Reported Earnings • Nov 11
Third quarter 2022 earnings released: US$0.10 loss per share (vs US$0.061 loss in 3Q 2021) Third quarter 2022 results: US$0.10 loss per share (further deteriorated from US$0.061 loss in 3Q 2021). Revenue: US$8.81m (up 114% from 3Q 2021). Net loss: US$700.0k (loss widened 83% from 3Q 2021). Tillkännagivande • Oct 26
Twin Vee Powercats, Co. Appoints Zachary Crane as Its Director of National Sales Twin Vee PowerCats Co. announced that it has hired industry veteran Zachary Crane as its Director of National Sales to support its continued growth and enhance its presence in key national markets and other territories. Mr. Crane's new position is effective immediately. Mr. Crane shares Visconti's excitement and looks forward to collaborating with the Twin Vee team with the intention to open new markets and expand distribution. "Great things in business are never done by one person. They are done by a team of people," states Crane. Zachary Crane joins Twin Vee with over 13 years of experience in the marine industry. Most recently, Mr. Crane worked for Malibu Boats in Northeast Regional Sales, where he focused on dealer development and distribution for new and current dealer on behalf of Cobia, Maverick, Pathfinder, Hewes and Pursuit Boat brands. He also spent five years as an independent sales representative servicing over 40 dealers for Maverick Boat Group and Bentley Pontoon Boats as well as 38 dealers for Crownline Boats and Crest Pontoon Boats. From 2011 to 2016, Mr. Crane was a yacht consultant and received several elite and top sales awards at C-JAM Yacht Sales in Somers Point, New Jersey. Additionally, he worked in brokerage sales and boat sales at Jersey Marine in Somers Point, New Jersey from 2009 to 2011. Mr. Crane graduated with a Bachelor of Science from Jacksonville University in June 2010. Tillkännagivande • Sep 29
Twin Vee Powercats Co. has completed a Follow-on Equity Offering in the amount of $6.875 million. Twin Vee Powercats Co. has completed a Follow-on Equity Offering in the amount of $6.875 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 2,500,000
Price\Range: $2.75 Reported Earnings • Aug 13
Second quarter 2022 earnings released: US$0.077 loss per share (vs US$0.013 profit in 2Q 2021) Second quarter 2022 results: US$0.077 loss per share (down from US$0.013 profit in 2Q 2021). Revenue: US$8.52m (up 158% from 2Q 2021). Net loss: US$538.8k (down US$589.6k from profit in 2Q 2021). Over the next year, revenue is forecast to grow 24%, compared to a 5.3% growth forecast for the industry in the US. Tillkännagivande • Jul 07
Twin Vee Powercats Co. Announces Board and Committee Changes On June 30, 2022, Steven A. Shallcross, a member of the Board of Directors of Twin Vee PowerCats Co. notified the Company of his decision to resign, effective immediately, from his position as a member of the Board and related Committees. Mr. Shallcross did not advise the Company of any disagreement with the Company on any matter relating to its operations, policies or practices. Mr. Shallcross was a Class III director of the Company and also served as the Chairman of the Audit Committee of the Board, the Chairman of the Compensation Committee of the Board and as a member of the Corporate Governance and Nominating Committee of the Board. On July 6, 2022, the Board appointed Kevin Schuyler to serve as a Class III director of the Company. Mr. Schuyler was also appointed to serve as the Chairman of the Audit Committee of the Board, the Chairman of the Compensation Committee of the Board and as a member of the Corporate Governance and Nominating Committee of the Board. Mr. Schuyler, age 53, currently serves as a senior managing director at CornerStone Partners, a full-service institutional CIO and investment office located in Charlottesville, VA, with approximately $10 billion under management. Prior to joining CornerStone Partners in 2006, he held various positions with McKinsey & Company, Louis Dreyfus Corporation and The Nature Conservancy. Mr. Schuyler is the Vice Chairman of the board of directors and Lead Independent Director of Adial Pharmaceuticals Inc., a clinical-stage biopharmaceutical company focused on developing therapies for the treatment and prevention of addiction and related disorders, where he has served as a director since April 2016. Mr. Schuyler also serves and committees of Sentara Martha Jefferson Hospital, the US Endowment for Forestry and Communities, and Stone Barns Center. He is a member of the investment committee of the Margaret A. Cargill Philanthropies. Mr. Schuyler graduated with honors from Harvard College and received his MBA from The Darden Graduate School of Business at the University of Virginia. He is a member of the Chartered Financial Analyst Society of Washington, DC. The Company selected Mr. Schuyler to serve on its board of directors because he brings extensive knowledge of the financial markets. Mr. Schuyler’s business background provides him with a broad understanding of the financial markets and the financing opportunities available to Company. Reported Earnings • May 13
First quarter 2022 earnings released: US$0.17 loss per share (vs US$0.033 profit in 1Q 2021) First quarter 2022 results: US$0.17 loss per share (down from US$0.033 profit in 1Q 2021). Revenue: US$5.89m (up 84% from 1Q 2021). Net loss: US$1.19m (down US$1.32m from profit in 1Q 2021). Over the next year, revenue is forecast to grow 48%, compared to a 8.5% growth forecast for the industry in the US. Reported Earnings • Apr 02
Full year 2021 earnings released: US$0.19 loss per share (vs US$0.29 profit in FY 2020) Full year 2021 results: US$0.19 loss per share (down from US$0.29 profit in FY 2020). Revenue: US$15.8m (up 43% from FY 2020). Net loss: US$1.01m (down 186% from profit in FY 2020). Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 20% share price gain to US$3.90, the stock trades at a trailing P/E ratio of 24.5x. Average trailing P/E is 13x in the Leisure industry in the US. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment deteriorated over the past week After last week's 17% share price decline to US$3.21, the stock trades at a trailing P/E ratio of 20.1x. Average trailing P/E is 12x in the Leisure industry in the US. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment improved over the past week After last week's 29% share price gain to US$4.14, the stock trades at a trailing P/E ratio of 26x. Average trailing P/E is 14x in the Leisure industry in the US. Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment deteriorated over the past week After last week's 16% share price decline to US$3.10, the stock trades at a trailing P/E ratio of 19.4x. Average trailing P/E is 15x in the Leisure industry in the US. Reported Earnings • Nov 20
Third quarter 2021 earnings released: US$0.061 loss per share The company reported a soft third quarter result with weaker control over costs, although losses were stable and revenues were flat. Third quarter 2021 results: Revenue: US$4.12m (flat on 3Q 2020). Net loss: US$383.3k (flat on 3Q 2020). Valuation Update With 7 Day Price Move • Sep 17
Investor sentiment deteriorated over the past week After last week's 18% share price decline to US$3.58, the stock trades at a trailing P/E ratio of 19.3x. Average trailing P/E is 15x in the Leisure industry in the US. 
