Twin Vee Powercats Co SEC Filings

Twin Vee PowerCats Co. reported the results of its 2025 annual stockholder meeting, where a quorum of 1,189,517 shares of common stock was present out of 2,237,299 shares outstanding as of October 15, 2025.

Stockholders elected Carol Craig and Larry Swets, Jr. as Class I directors to serve until the 2028 annual meeting, ratified Grassi & Co. CPAs, P.C. as independent auditor for the year ending December 31, 2025, approved the reincorporation of Twin Vee from Delaware to Nevada by conversion, and approved a proposal to allow adjournments to solicit additional proxies in favor of the Nevada reincorporation if needed. The company later issued a press release announcing the director elections.

Twin Vee PowerCats Co. (VEEE), through its subsidiary Forza X1, closed the sale of its Marion, North Carolina property for $4.25 million. The consideration included $500,000 at closing and a $3,750,000 secured promissory note bearing 5% interest, payable in installments of $500,000 plus interest on October 31, 2026, $500,000 plus interest on April 30, 2027, and $2,750,000 plus interest on October 31, 2027. The note is secured by a deed of trust on the property.

After seller-paid closing costs of $44,500 and county taxes of $7,765.96, Forza received net cash of $447,684.04 at closing. Pro forma adjustments as of September 30, 2025 include removal of $3,956,623 of assets held for sale, recognition of the $3,750,000 note receivable and $447,684 cash, and an unaudited gain on sale of $241,061. No pro forma statement of operations was provided because the disposition is not expected to have a material continuing impact.

Twin Vee PowerCats (VEEE) filed its Q3 2025 10‑Q, reporting net sales of $3,428,977 and a net loss of $2,755,513 for the quarter. Gross margin was slightly negative, with a gross loss of $45,229 as cost of products sold exceeded sales. Operating loss narrowed year over year to $2,776,695 as operating expenses declined. For the first nine months of 2025, revenue was $11,796,886 and net loss was $6,019,824.

Cash and cash equivalents were $2,704,571 at September 30, 2025, down from $7,491,123 at year‑end, reflecting $5,129,964 of cash used in operating activities. Total assets fell to $18,894,710 from $25,887,905, and stockholders’ equity was $15,931,620. The company disclosed “substantial doubt” about its ability to continue as a going concern.

Management highlighted a 1‑for‑10 reverse stock split effective April 7, 2025 and a May underwritten offering of 750,000 shares at $4.00 per share, yielding $2,555,101 in net proceeds. Subsequent to quarter‑end, Twin Vee closed the sale of its Marion, NC property for $4,250,000, receiving $500,000 at closing and the balance via installments at 5% interest. Dealer concentration remained high, with four dealers accounting for 83% of Q3 sales. Shares outstanding were 2,237,299 as of November 4, 2025.

Twin Vee PowerCats Co. (VEEE) set its 2025 Annual Meeting for December 4, 2025 at 10:00 a.m. ET in Fort Pierce, FL. Stockholders of record as of October 15, 2025 may vote in person or by proxy.

The Board seeks approval of three proposals: elect two Class I directors—Larry Swets, Jr. and Carol Craig—for terms expiring at the 2028 meeting; ratify Grassi & Co., CPAs, P.C. as independent auditor for fiscal 2025; and approve a reincorporation by conversion from Delaware to Nevada.

Directors are elected by plurality of votes cast. Auditor ratification requires a majority of voting power present and entitled to vote. For the reincorporation, the Board details that each existing share would convert 1-for-1 into Nevada common stock, the Nasdaq symbol VEEE would be unchanged, and business operations, management and headquarters would continue as before; the Board may abandon the conversion after approval. The filing outlines key differences under Nevada law, including director removal thresholds and statute-focused governance.

Twin Vee PowerCats Co. filed an 8-K under Regulation FD stating it will make several investor presentations over the following weeks. In connection with these meetings, the company furnished an investor presentation as Exhibit 99.1, dated October 22, 2025.

The materials are furnished, not filed, so they are not subject to Section 18 of the Exchange Act and are not incorporated by reference into other SEC filings. The presentation also includes safe harbor language for forward-looking statements.

Twin Vee PowerCats, Inc. (VEEE) filed a Form 8-K disclosing the execution of an Employment Agreement dated September 17, 2025 between the company and Scott Searles. The filing is presented as an itemized 8-K cover page with the employment agreement listed as Exhibit 10.1. No financial terms, duties, compensation, or effective dates beyond the agreement date are included in the provided text.

Twin Vee PowerCats Co. furnished a Form 8-K stating it issued a press release announcing results for the quarter ended June 30, 2025. The press release is attached as Exhibit 99.1 and the company specifies the release is being furnished, not filed, so it is not subject to Section 18 liabilities and will not be incorporated by reference into other SEC filings. The filing lists Nasdaq ticker VEEE, identifies the company as an emerging growth company, and is signed by CEO Joseph Visconti.

Twin Vee PowerCats Co. Amendment No. 1 to Schedule 13G reports that the three Reporting Persons—3i, LP; 3i Management LLC; and Maier Joshua Tarlow—have each ceased to be beneficial owners of more than five percent of the company’s common stock and now beneficially own 0 shares (0% of the class). The amendment serves as an exit filing and updates Item 4 to show zero sole and shared voting and dispositive power for each Reporting Person. The filers reference a Joint Filing Agreement filed as Exhibit 1 and certify the information as true and complete.