Twin Vee PowerCats, Co. — fact timeline

Twin Vee PowerCats, Co.: 1-for-37 reverse stock split via amendment to Articles of Incorporation (effective 2026-05-04).

“On April 30, 2026, Twin Vee PowerCats Co. (the “Company”) filed a Certificate of Change with the Nevada Secretary of State (the “Certificate of Change”) to amend its Articles of Incorporation to effect a 1-for-37 reverse stock split of the Company’s authorized shares of common stock, par value $0.001 per share (the “Common Stock”), accompanied by a corresponding decrease in the Company’s issued and outstanding shares of Common Stock (the “Reverse Stock Split”), effective as of 12:01 a.m. Eastern Time on May 4, 2026 (the “Effective Time”), pursuant to Nevada Revised Statutes (“NRS”) 78.207.”

Twin Vee PowerCats, Co. issued common stock.

“certain rights of the Company’s stockholders were changed as a result of the Reincorporation.”

Twin Vee PowerCats, Co.: Reincorporation from Delaware to Nevada.

“Twin Vee PowerCats Co. Announces Reincorporation to Nevada to Enhance Corporate Flexibility and Drive Long-Term Cost Savings”

Twin Vee PowerCats, Co. received a nasdaq delisting notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A), 5810(c)(3)(A)(iv)).

“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 re”

Twin Vee PowerCats, Co. entered into Placement Agency Agreement with ThinkEquity LLC valued at Issuance of 6,491,900 shares at $0.384 per share; gross proceeds approximately $2.5 million (effective 2026-03-23).

“On March 23, 2026, Twin Vee PowerCats Co., a Delaware corporation (the “Company”), entered into a placement agency agreement (the “Placement Agency Agreement”) with ThinkEquity LLC, as sole placement agent (the “Placement Agent”), pursuant to which the Company agreed to issue and sell directly to various investors in a best efforts public offering (the “Offering”) an aggregate of 6,491,900 shares (the “Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”), at a public offering price of $0.384 per share.”

Twin Vee PowerCats, Co. entered into Placement Agency Agreement with ThinkEquity LLC valued at aggregate gross proceeds of approximately $1.7 million (effective 2026-03-16).

“On March 16, 2026, Twin Vee PowerCats Co., a Delaware corporation (the “Company”), entered into a placement agency agreement (the “Placement Agency Agreement”) with ThinkEquity LLC, as sole placement agent (the “Placement Agent”), pursuant to which the Company agreed to issue and sell directly to various investors in a best efforts public offering (the “Offering”) an aggregate of 4,473,000 shares (the “Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”), at a public offering price of $0.38 per share.”

Twin Vee PowerCats, Co. entered into Placement Agency Agreement with ThinkEquity LLC valued at aggregate of 6,383,000 shares at a public offering price of $0.47 per share (effective 2026-02-19).

“On February 19, 2026, Twin Vee PowerCats Co., a Delaware corporation (the “Company”), entered into a placement agency agreement (the “Placement Agency Agreement”) with ThinkEquity LLC, as sole placement agent (the “Placement Agent”), pursuant to which the Company agreed to issue and sell directly to various investors in a best efforts public offering (the “Offering”) an aggregate of 6,383,000 shares (the “Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”), at a public offering price of $0.47 per share.”

Twin Vee PowerCats, Co. entered into Placement Agency Agreement with ThinkEquity LLC valued at aggregate gross proceeds of approximately $3.0 million (effective 2026-02-19).

“On February 19, 2026, Twin Vee PowerCats Co., a Delaware corporation (the “Company”), entered into a placement agency agreement (the “Placement Agency Agreement”) with ThinkEquity LLC, as sole placement agent (the “Placement Agent”), pursuant to which the Company agreed to issue and sell directly to various investors in a best efforts public offering (the “Offering”) an aggregate of 6,383,000 shares (the “Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”), at a public offering price of $0.47 per share.”

Twin Vee PowerCats, Co. completed a disposition involving Highland Myco Holdings, LLC for $4.25 million (closed 2025-10-31).

“by that certain amendment, dated October 13, 2025 (the “Amendment”), by and between the Company, Forza, and the Buyer. The Property was sold for an aggregate purchase price of $4.25 million. The terms of the sale included a cash closing payment of $500,000, with an additional $3,750,000 paid by the issuance of a secured promissory note payable in installments of”

Mike Dickerson resigned as Chief Financial Officer at Twin Vee PowerCats, Co..

“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.”

Twin Vee PowerCats, Co. completed an acquisition involving Bahama Boat Works, LLC for $100,000 and agreed to pay up to $3,000,000 in additional contingent consideration (closed 2025-06-05).

“In consideration of the transferred Assets the Company paid Bahama Boat Works $100,000 and agreed to pay up to $3,000,000 in additional contingent consideration”

Twin Vee PowerCats, Co.: Amended Certificate of Incorporation to effect a 1-for-10 reverse stock split (effective 2025-04-07).

“Accordingly, on April 4, 2025, the Company filed an amendment (the “Amendment”) to its Certificate of Incorporation with the Secretary of State of the State of Delaware to effect a reverse stock split, with an effective time (the “Effective Time”) of 11:59 p.m. Eastern Time on April 7, 2025 (the “Reverse Stock Split”).”

Karl Zimmer resigned as President at Twin Vee PowerCats, Co..

“This appointment is in connection with the resignation of Karl Zimmer on November 30, 2024.”

Joseph Visconti was appointed as President at Twin Vee PowerCats, Co..

“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.”

Twin Vee PowerCats, Co. completed an acquisition involving Forza X1, Inc. (closed 2024-11-26).

“On November 26, 2024 (the "Closing Date"), pursuant to the terms of the Agreement and Plan of Merger, dated as of August 12, 2024 (the "Merger Agreement"), by and between Twin Vee PowerCats Co., a Delaware corporation (the "Company" or "Twin Vee"), Twin Vee Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of Twin Vee ("Merger Sub"), and Forza X1, Inc., a Delaware corporation ("Forza"), Merger Sub was merged with and into Forza (the "Merger"), with Forza surviving the Merger as a wholly-owned subsidiary of Twin Vee.”

James Melvin resigned as Director at Twin Vee PowerCats, Co..

“Bard Rockenbach and James Melvin resigned as directors of Twin Vee and any committees thereof.”

Bard Rockenbach resigned as Director at Twin Vee PowerCats, Co..

“Bard Rockenbach and James Melvin resigned as directors of Twin Vee and any committees thereof.”

Marcia Kull was appointed as Director at Twin Vee PowerCats, Co..

“Marcia Kull was appointed as a director of Twin Vee.”

Karl J. Zimmer was appointed as President at Twin Vee PowerCats, Co..

“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.”

Twin Vee PowerCats, Co. reported three months ended March 31, 2024 results: revenue $5,276,343, net income net loss of $2,335,194.

“Twin Vee reported a 41% decline in consolidated revenue for the three months ended March 31, 2024, to $5,276,343 as compared to $8,877,215 in the same period in 2023. For the three months ended March 31, 2024, Twin Vee had a consolidated net loss of $2,335,194, as compared to a net loss of $1,828,465 in the prior year.”

Michael P. Dickerson was appointed as Chief Financial & Administrative Officer at Twin Vee PowerCats, Co..

“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.”

Twin Vee PowerCats, Co. reported the fiscal year ended December 31, 2023 results: revenue $33,426,000, net income net loss of $2,348,000.

“highlights and financial results for fiscal year ended December 31, 2023. Highlights for fiscal year 2023 : · Revenue for the year ended December 31, 2023 increased 4% to $33,426,000 as compared to $31,988,000 in 2022. · Twin Vee had a net loss of $2,348,000 for the year ended December 31, 2023, as compared to a net loss of $2,144,000 in 2022. · Aquasport had”

Jim Leffew resigned as Chief Executive Officer at Twin Vee PowerCats, Co..

“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.”

Carrie Gunnerson resigned as Chief Financial Officer at Twin Vee PowerCats, Co..

“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”

Twin Vee PowerCats, Co. reported nine months ended September 30, 2023 results: net income Forza X1 had a net loss of $ 4,535,100.

“The Company is pleased to report an 8% increase in consolidated net revenue for the nine months ended September 30, 2023, to $24,980,902 as compared to $23,217,634 in the same period in 2022.”

Twin Vee PowerCats, Co. reported financial results for the quarter ended September 30, 2023.

“On November 6, 2023, Twin Vee PowerCats Co.’s subsidiary, Forza X1, Inc., issued a press release announcing its financial results for the quarter ended September 30, 2023.”

Twin Vee PowerCats, Co. shareholders approved Ratification of the appointment of Grassi & Co. CPAs, P.C. as the Company’s independent registered public accounting firm for the year ending December 31, 2023 at the 2023-10-12 meeting.

“Proposal 2 — Ratification of the appointment of Grassi & Co. CPAs, P.C. as the Company’s independent registered public accounting firm for the year ending December 31, 2023. The stockholders ratified and approved the appointment of Grassi & Co. CPAs, P.C. as the Company’s independent registered public accounting firm for the year ending December 31, 2023 based on the votes listed below: Votes For Votes Against Abstentions Broker Non-Votes 6,259,553 550 0 0”

Twin Vee PowerCats, Co. shareholders approved Election of Class II directors at the 2023-10-12 meeting.

“On October 12, 2023, Twin Vee PowerCats Co. (the “Company”) held the 2023 Annual Meeting where the Company’s stockholders voted on the following two (2) proposals and cast their votes as described below.”

Twin Vee PowerCats, Co. reported the six months ended June 30, 2023 results: revenue $17,002,000.

“and financial results for the three and six months ended June 30, 2023. We are pleased to report an 18% increase in net revenue for the six months ended June 30, 2023, to $17,000,000 compared to $14,400,000 in the same period in 2022. We had a net loss of $234,000 for our gas powered boats segment for the six months ended June 30, 2023 compared to net loss of”

Twin Vee PowerCats, Co. reported financial results for the quarter ended June 30, 2023.

“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.”

Twin Vee PowerCats, Co. reported the three months ended March 31, 2023 results: revenue $8.9 million, net income total net loss of $1.8 million.

“We are pleased to report a 51% increase in net revenue for the three months ended March 31, 2023 to $8.9 million compared to $5.9 million in the same period in 2022, and net income of $181 thousand for our gas powered boats reportable segment for the three months ended March 31, 2023, compared to a net loss of $626 thousand for the same period in 2022. The total net loss of $1.8 million for the three months ended March 31, 2023 is a direct reflection of Twin Vee’s majority ownership in Forza X1, Inc. (Nasdaq: FRZA), the electric boat company in which we own a majority stake and Twin Vee’s requirement to file consolidated financial statements in accordance to GAAP accounting policy.”

Twin Vee PowerCats, Co. entered into Agreement with Ebbtide Corporation valued at $3,100,000 (effective 2023-05-05).

“Item 1.01. Entry into a Material Definitive Agreement. On May 5, 2023, Twin Vee PowerCats Co. (the “Company”), the Company’s newly formed subsidiary, AquaSport Co., a Florida corporation (“AquaSport Co.”), entered into an agreement with Ebbtide Corporation, a Tennessee corporation (“Ebbtide”), dated May XX, 2023 (the “Agreement”), providing the Company with the right to acquire the AQUASPORTTM boat brand and manufacturing facility. The acquisition includes Aquasport’s trademarks, 150,000-square-foot manufacturing facility situated on 18.5 acres in White Bluff Tennessee, and related tooling, molds, and equipment to build five Aquasport models ranging in size from 21 to 25-foot boats (the “AquaSport Assets”). Under the Agreement, the Company has the right to purchase the AquaSport Assets from Ebbtide for $3,100,000 during the five year term of the Agreement (or extension period), less credit for a $300,000.00 security deposit paid by the Company and $16,000 a month for any rent paid unde”

Twin Vee PowerCats, Co. reported the year ended December 31, 2022 results: revenue approximately $31,988,000, net income Net loss from operations of our core business, gas-powered boats, was approximately $2,144,000.

“facility upgrades and capital equipment in the past 12 months.” Year End 2022 Financial Highlights : ● Revenue for the year ended December 31, 2022 was approximately $31,988,000, representing a 103% increase compared to approximately $15,774,000 for the year ended December 31, 2021. ● Gross profit for the year ended December 31, 2022 was approximately”

Twin Vee PowerCats, Co. completed an acquisition involving Twin Vee Powercats, Inc. (closed 2022-12-05).

“On December 5, 2022 (the “Closing Date”), pursuant to the terms of the Agreement and Plan of Merger, dated as of September 8, 2022 (the “Merger Agreement”), by and between Twin Vee PowerCats Co. (the “Company” or “Twin Vee Co.”) and Twin Vee Powercats, Inc., a Florida corporation (“Twin Vee Inc.”), Twin Vee Inc. was merged with and into the Company (the “Merger”).”

Twin Vee PowerCats, Co. shareholders approved Approval of amendment to certificate of incorporation to increase authorized shares of common stock from 50,000,000 to 75,000,000 at the 2022-11-29 meeting.

“Proposal 5 — Approval of the Amendment to the Certificate of Incorporation of Twin Vee to increase the authorized shares of common stock from 50,000,000 to 75,000,000 if the Board of Directors deems it advisable Votes For Votes Against Abstentions Broker Non-Votes 6,219,087 397,953 11,788 —”

Twin Vee PowerCats, Co. shareholders approved Ratification of the selection of Grassi & Co. CPAs, P.C. as independent registered public accounting firm for fiscal year ending December 31, 2022 at the 2022-11-29 meeting.

“Proposal 4 — Ratification of the Selection of the Independent Registered Public Accounting Firm Votes For Votes Against Abstentions Broker Non-Votes 6,615,540 1,561 11,727 —”

Twin Vee PowerCats, Co. shareholders approved Election of Neil Ross and Bard Rockenbach as Class I directors for a three-year term at the 2022-11-29 meeting.

“Proposal 3 — Election of Neil Ross and Bard Rockenbach to serve on the Twin Vee board of directors as Class I directors for a three-year term For Withheld Broker Non-Votes Neil Ross 5,356,318 455,621 816,889 Bard Rockenbach 5,436,218 375,721 816,889”

Twin Vee PowerCats, Co. shareholders approved Approval of the Agreement and Plan of Merger at the 2022-11-29 meeting.

“Proposal 1 — Approval of the Merger Agreement Votes For Votes Against Abstentions Broker Non-Votes 5,752,258 57,631 2,050 816,889”

Twin Vee PowerCats, Co. reported the three months ended September 30, 2022 results: revenue approximately $8,812,000.

“financials on a consolidated basis. Financial Highlights for the Quarter Ended September 30, 2022 : ● Net sales for the three months ended September 30, 2022 was approximately $8,812,000, representing a 114% increase compared to approximately $4,118,000 for the three months ended September 30, 2021. ● Gross profit for the three months ended September 30, 2022”

Visconti was appointed as Executive Chairman and Chief of Product Development at Twin Vee PowerCats, Co..

“Mr. Visconti will serve as Forza X1’s Executive Chairman and Chief of Product Development.”

Nicole Camacho was appointed as Chief Financial Officer at Twin Vee PowerCats, Co..

“Carrie Gunnerson resigned as Forza X1’s Chief Financial Officer and Nicole Camacho was appointed as Forza X1’s new Chief Financial Officer.”

Carrie Gunnerson resigned as Chief Financial Officer at Twin Vee PowerCats, Co..

“Carrie Gunnerson resigned as Forza X1’s Chief Financial Officer and Nicole Camacho was appointed as Forza X1’s new Chief Financial Officer.”

Kevin Schuyler was appointed as Class III Director at Twin Vee PowerCats, Co..

“On July 6, 2022, the Board appointed Kevin Schuyler to serve as a Class III director of the Company.”

Steven A. Shallcross resigned as Director at Twin Vee PowerCats, Co..

“On June 30, 2022, Steven A. Shallcross, a member of the Board of Directors (the “Board”) of Twin Vee PowerCats Co. (the “Company”), notified the Company of his decision to resign, effective immediately, from his position as a member of the Board and related Committees.”

Bard D. Rockenbach was appointed as Director at Twin Vee PowerCats, Co..

“Effective November 7, 2021, Twin Vee Powercats, Co. (the “Company”) increased the size of its board of directors (the “Board”) from five directors to six directors and Bard D. Rockenbach was appointed as a member of the Board, to hold office in accordance with the certificate of incorporation and bylaws of the Company until his successor is duly elected and qualified or his earlier death, resignation or removal.”

Donna Barnett resigned as Principal Accounting Officer at Twin Vee PowerCats, Co..

“In addition, upon the appointment of Ms. Gunnerson, Donna Barnett submitted her resignation as the Company’s Principal Accounting Officer, effective upon Ms. Gunnerson assuming her position.”

Carrie Gunnerson was appointed as Chief Financial Officer at Twin Vee PowerCats, Co..

“On October 1 2021, Twin Vee Powercats Co., a Delaware corporation (the “Company”) appointed Carrie Gunnerson as the Company’s Chief Financial Officer and Principal Accounting Officer.”