Highest-materiality recent filing
Twin Vee PowerCats notifies CEO Visconti of non-renewal; he continues as at-will CEO/CFO/President
Notice of non-renewal of employment agreement sent to Joseph Visconti on May 17, 2026.
Twin Vee PowerCats announces 1-for-37 reverse stock split to regain Nasdaq compliance
1-for-37 reverse stock split effective May 4, 2026; reduces outstanding shares from ~19.6M to ~0.5M.
Twin Vee PowerCats increases VP Preston Yarborough's base salary to $250,000
Compensation Committee approved salary increase for VP Preston Yarborough to $250,000/year effective April 21, 2026.
Twin Vee PowerCats reincorporates from Delaware to Nevada for cost savings and flexibility
Reincorporation to Nevada effective April 10, 2026, approved by stockholders at Nov 2025 annual meeting.
Twin Vee PowerCats receives Nasdaq delisting notice for bid price deficiency
Nasdaq notified on April 2, 2026 that stock failed $1.00 minimum bid price for 30 consecutive business days.
Twin Vee PowerCats prices $2.5M common stock offering at $0.384/share
Gross proceeds ~$2.5M from 6.49M shares at $0.384/share, offering closed March 24.
Twin Vee PowerCats raises $1.7M in offering of 4.47M shares at $0.38/share
Issued 4,473,000 shares at $0.38 each; gross proceeds ~$1.7M; offering closed March 17, 2026.
Twin Vee PowerCats enters 5-year related-party lease with CEO-owned entity for HQ facility
Lease with Visconti Holdings (owned by CEO Joseph Visconti) for 100,000 sq ft facility in Fort Pierce, FL.
Twin Vee PowerCats closes public offering of 6.38M shares at $0.47/share for ~$3M gross proceeds
Completed best-efforts public offering of 6,383,000 shares at $0.47/share; gross proceeds ~$3M.
Twin Vee PowerCats raises ~$3M in public offering of 6.38M shares at $0.47/share
Offering of 6,383,000 shares at $0.47 per share; gross proceeds ~$3.0M.
Bahama Boat Works entered partnership with Mercury Marine (Brunswick Corp division) to accelerate growth.
Twin Vee appoints CEO Joseph Visconti as interim CFO; prior interim CFO Searles terminated
Joseph Visconti appointed Interim CFO effective Jan 9, 2026, succeeding Scott Searles, whose employment terminated same day.
Twin Vee reports three consecutive quarters of YoY sales growth; cites expanding catamaran market
Three consecutive quarters of year-over-year sales growth: Q2, Q3, Q4 of fiscal 2025.
Twin Vee PowerCats elects Carol Craig and Larry Swets to board; reincorporation to Nevada approved
Carol Craig and Larry Swets elected as Class I directors, effective Dec 4, 2025; Marcia Kull and Neil Ross departed.
Twin Vee sells NC property for $4.25M; gains $241k on sale
Property sold Oct 31 for $4.25M; cash $500k at close plus $3.75M seller-financed note at 5%.
Twin Vee PowerCats will conduct investor presentations in the weeks following October 22, 2025.
Twin Vee PowerCats appoints Scott Searles as Interim CFO effective Sept 17, 2025
Scott Searles, 50, appointed Interim CFO; 90-day term with $60,000 base salary.
Twin Vee reports AI-driven growth at BoatsForSale.com: 67% organic click increase
Since February 2025 acquisition, organic clicks up 67%, search impressions up 158% to over 2M/month.
Twin Vee Q2 revenue up 9.9% to $4.8M; gross margin improves 910 bps to 13.8%
Revenue of $4.8M, up 9.9% YoY; gross margin of 13.8%, an improvement of 910 basis points.
Twin Vee amends IP license deal; assigns rights to Wizz Banger and guarantees obligations
First Amendment to Feb 2025 license/sale agreement for yachtsforsale.com and boatsforsale.com IP.
CFO Mike Dickerson resigns; effective Sept 14, 2025
Mike Dickerson notified the company of his resignation as CFO on June 17, 2025.
Twin Vee PowerCats adopts Wizz Banger stock plan; grants options to executives
Adopted Wizz Banger 2025 Subsidiary Stock Incentive Plan, reserving 2,800,000 shares of Wizz Banger common stock.
Twin Vee acquires Bahama Boat Works brand assets for $100K upfront plus up to $3M contingent
Acquired Bahama Boat Works brand assets via Asset Purchase Agreement on June 5, 2025. Consideration: $100K upfront plus up to $3M contingent on revenue from new 31'-41' boat models.
Twin Vee PowerCats prices public offering of 750,000 shares at $4.00; gross proceeds $3M
750,000 shares at $4.00; gross proceeds $3M; estimated net proceeds ~$2.54M.
Twin Vee Q1 revenues $3.6M (+92% seq); gross margin 14.9% up 961 bps YoY
Revenues of $3.6M, 91.7% sequential increase from Q4 2024, beating 50% guidance.
Twin Vee regains Nasdaq minimum bid price compliance; delisting risk removed
Received notice from Nasdaq on April 28, 2025 that it regained compliance with Listing Rule 5550(a)(2).
Twin Vee implements 1-for-10 reverse stock split to meet Nasdaq bid price rule
Reverse stock split effective 11:59 pm ET April 7, 2025; shares reduce from ~14.9M to ~1.5M.
Twin Vee enters agreement to acquire BoatsForSale.com and YachtsForSale.com from OneWater Marine
Minimum purchase price of $5M for OWM's IP; 6% revenue-sharing royalty on subscription revenue until closing.
Joseph Visconti appointed President effective Jan. 22, 2025; already serves as CEO and Board Chair.
Twin Vee PowerCats President Karl Zimmer resigns; cost reduction amid declining demand
President Karl Zimmer resigned effective Nov 30, 2024 to reduce operational cash burn amid declining recreational marine demand.
Twin Vee completes merger with Forza X1; exchange ratio 0.6117; new director appointed
Effective Nov 26, 2024, Forza merged into Twin Vee Merger Sub, becoming wholly-owned subsidiary.
Stockholders approved issuance of common stock for Forza merger: 4,891,774 for, 118,484 against.
Twin Vee gets Nasdaq extension to May 5, 2025 for bid price compliance
Nasdaq granted 180-day extension after company missed initial Nov 6 deadline.
Twin Vee supplements merger proxy with Forza X1 valuation details to preempt lawsuit
Purported stockholder claimed proxy omitted material info on Houlihan Capital's fairness analysis.
Twin Vee holds Q2 2024 call; discusses proposed merger with Forza X1 (Aug 12 agreement)
Investor call on Aug 14, 2024 covered Q2 2024 financial and operating results.
Twin Vee Q2 revenue down 47% to $4.3M; net loss widens to $4.5M
Consolidated revenue $4,327K vs $8,125K YoY; net loss $4,519K vs $1,904K.
Twin Vee to merge with Forza X1 in all-stock deal; Forza holders get 0.6117 VEEE shares each
Forza stockholders (excluding Twin Vee) receive 0.61166627 VEEE shares per FRZA share, up to 5,355,000 VEEE shares.
Twin Vee PowerCats appoints Karl Zimmer as President with three-year employment deal
Karl Zimmer appointed President effective July 12, 2024; CEO Visconti to focus on business development and M&A.
Forza X1 subsidiary to discontinue electric boat business, wind down operations
Forza X1 board on July 11, 2024 decided to discontinue and wind down electric boat development and sales.
Twin Vee PowerCats raises VP salary, grants 650K stock options to three executives
VP Preston Yarborough base salary increased to $200,000 per year effective June 27, 2024.
Twin Vee PowerCats Q1 revenue down 41% to $5.28M; net loss widens to $2.34M
Revenue $5.276M, down 41% YoY from $8.877M.
Twin Vee PowerCats appoints Michael P. Dickerson as CFO and Administrative Officer
Michael P. Dickerson appointed CFO & Administrative Officer effective April 4, 2024, succeeding former CFO Carrie Gunnerson.
Twin Vee PowerCats FY2023 revenue up 4% to $33.4M, net loss widens to $7.2M consolidated
Revenue $33.4M (+4% YoY); Twin Vee standalone net loss $2.35M vs $2.14M prior year.
Twin Vee CFO resigns; Forza X1 CEO resigns effective immediately
CFO Carrie Gunnerson resigns effective May 31, 2024, to pursue another opportunity.
Twin Vee partners with Avikus to develop autonomous recreational boats; first models summer 2024
Partnership with Avikus (HD Hyundai subsidiary) to integrate AI autonomous navigation into Twin Vee, Forza X1 & AquaSport boats.
Twin Vee Q3 nine-month revenue up 8% to $24.98M but net loss more than doubles to $4.36M
Consolidated net loss attributed to stockholders widened to $4.36M vs $2.43M in prior-year period.
Forza X1 (FRZA) reports Q3 2023 cash of $15.3M; progressing electric boat orders
Cash, cash equivalents, and marketable securities of approximately $15.3M as of Sept 30, 2023.
Twin Vee PowerCats Stockholders Elect Directors and Ratify Auditor at 2023 Annual Meeting
Stockholders elected James Melvin and Preston Yarborough as Class II directors with 4,146,149 and 4,293,664 votes for, respectively.
Twin Vee approves $7k/mo interim plant manager compensation for Preston Yarborough
Board approved $7,000/month additional compensation for Preston Yarborough as Interim Plant Manager.
Twin Vee sets Oct 12, 2023 as annual meeting date; record date Aug 18, 2023
Record date for 2023 annual meeting set as August 18, 2023; meeting date October 12, 2023.
On June 17, 2025, Mike Dickerson, the Chief Financial Officer of Twin Vee PowerCats Co. (the “Company”), notified the Company of his decision to resign, effective September 14, 2025, from his position as the Company’s Chief Financial Officer.
This appointment is in connection with the resignation of Karl Zimmer on November 30, 2024.
On January 22, 2025, the Board of Directors (the “Board”) of Twin Vee PowerCats Co. (the ‘Company”) appointed Joseph Visconti to serve as President of the Company, effective immediately.
Bard Rockenbach and James Melvin resigned as directors of Twin Vee and any committees thereof.
Marcia Kull was appointed as a director of Twin Vee.
Bard Rockenbach and James Melvin resigned as directors of Twin Vee and any committees thereof.
On July 8, 2024, the Board of Directors (the “Board”) of Twin Vee PowerCats Co. (the ‘Company”) appointed Karl J. Zimmer to serve as President of the Company, effective July 12, 2024.
On April 4, 2024, the Board of Directors (the “Board”) of Twin Vee PowerCats Co. (the ‘Company”) appointed Michael P. Dickerson to serve as Chief Financial & Administrative Officer of the Company.
On March 6, 2024, Jim Leffew, the Chief Executive Officer of Forza, notified Forza of his decision to resign, effective immediately, from his position as Forza’s Chief Executive Officer.
On March 4, 2024, Carrie Gunnerson, the Chief Financial Officer of Twin Vee PowerCats Co. (the “Company”), notified the Company of her decision to resign, effective May 31, 2024, from her position as the Company’s Chief Financial Officer
Mr. Visconti will serve as Forza X1’s Executive Chairman and Chief of Product Development.
Carrie Gunnerson resigned as Forza X1’s Chief Financial Officer and Nicole Camacho was appointed as Forza X1’s new Chief Financial Officer.
Max materiality 0.80 · Median 0.60 · Most common event other_material