---
schema_version: "secwatch.filing_event.v1"
accession: "0001731122-23-001422"
form_type: "8-K"
ticker: "VEEE"
cik: "0001855509"
company_name: "Twin Vee PowerCats, Co."
filed_at: "2023-08-09T23:59:59+00:00"
generated_at: "2026-06-11T23:26:57.610248+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Forza X1 (FRZA) subsidiary of Twin Vee (VEEE) reports Q2 cash $16.5M, $12M purchase order

## Summary
- Cash and cash equivalents of $16.5M as of June 30, 2023; working capital $16.8M.
- Received initial purchase order from OneWater Marine for 100 units of 22-foot electric monohull, representing ~$12M revenue.
- Completed public offering of 5.34M shares at $1.50/share for gross proceeds of $8M, to fund NC manufacturing facility.
- Expect revenues from electric boat sales to commence in late 2023/early 2024; continues prototype development.
- North Carolina factory land clearing and rough grading complete; final grading and site construction expected before end of Q3 2023.

## SEC filing metadata
- accession: 0001731122-23-001422
- form_type: 8-K
- ticker: VEEE
- cik: 0001855509
- company_name: Twin Vee PowerCats, Co.
- filed_at: 2023-08-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1855509/000173112223001422/0001731122-23-001422-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1855509/000173112223001422/e4909_8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001731122-23-001422
- JSON: https://secwatch.observer/filing/0001731122-23-001422.json
- Plain text: https://secwatch.observer/filing/0001731122-23-001422.txt

## Key facts
- Earnings Releases
  Twin Vee PowerCats, Co. reported financial results for the quarter ended June 30, 2023.
  - Period: the quarter ended June 30, 2023
  - Result: reported results
  source text: On August 7, 2023, Twin Vee PowerCats Co.’s subsidiary, Forza X1, Inc., issued a press release announcing its financial results for the quarter ended June 30, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855509/000173112223001422/0001731122-23-001422-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.