Private company

Forza X1, Inc.

Forza X1, Inc. is an American ship and boat building and repairing company based in Ft. Pierce.¹

Last updated Oct 20, 2026.

Overview

IndustryShip & Boat Building & Repairing¹
HeadquartersFt. Pierce, Florida¹
Incorporated inDE²
Business address3101 S. Us-1, Ft. Pierce, Fl 34982²
Filer category, Emerging growth company²

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Customers will be able to communicate directly with us to ensure their questions are answered and their needs are met.³ From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2023

-324.7%Gross margin⁴

-17763.4%Operating margin⁴

-15984.5%Net margin⁴

-37.0%Return on equity⁴

-$6.9MFree cash flow⁴

Where the money goes

Where each dollar of revenue went, fiscal 2023

Research and developmentSelling, general and admin

Cost of revenue4¢$123.9K
Research and development55¢$1.5M
Selling, general and admin40¢$1.1M
Interest0¢$3.7K

Out of $37.1K in revenue.⁴ The company lost money this year.

Financial statements

Gross profit⁴-$120.5K in 2023−48% since 2022

Operating income⁴-$6.6M in 2023+80% since 2022

Net income⁴-$5.9M in 2023+63% since 2022

Fiscal year	2022	2023
Revenue		$37.1K⁴
Cost of revenue	$232.7K⁴	$123.9K⁴
Gross profit	-$232.7K⁴	-$120.5K⁴
Research and development	$957.2K⁴	$1.5M⁴
Selling, general and admin	$473.9K⁴	$1.1M⁴
Operating expenses	$3.4M⁴	$6.5M⁴
Operating income	-$3.7M⁴	-$6.6M⁴
Interest	$3.3K⁴	$3.7K⁴
Net income	-$3.6M⁴	-$5.9M⁴
Earnings per share	-$0.44⁴	-$0.44⁴
Earnings per share (diluted)	-$0.44⁴	-$0.44⁴
Shares (weighted, basic)	8.3M shares⁴	13.4M shares⁴
Shares (weighted, diluted)	8.3M shares⁴	13.4M shares⁴

Total assets⁷⁴$16.9M in 2023+658% since 2021

Total liabilities⁷⁴$901.3K in 2023+31% since 2021

Shareholders’ equity⁴$16.0M in 2023+939% since 2021

Cash⁷⁴$9.8M in 2023+445% since 2021

Fiscal year	2021	2022	2023
Cash	$1.8M⁷	$12.8M⁴	$9.8M⁴
Inventory			$493.5K⁴
Current assets	$1.9M⁷	$13.3M⁴	$13.4M⁴
Property, plant and equipment	$235.6K⁷	$765.4K⁴	$3.5M⁴
Total assets	$2.2M⁷	$14.2M⁴	$16.9M⁴
Accounts payable	$13.3K⁷	$99.0K⁴	$86.8K⁴
Current liabilities	$690.4K⁷	$453.2K⁴	$842.6K⁴
Total liabilities	$690.4K⁷	$521.7K⁴	$901.3K⁴
Retained earnings	-$457.6K⁷	-$4.1M⁴	-$10.0M⁴
Shareholders’ equity	$1.5M⁴	$13.7M⁴	$16.0M⁴
Shares outstanding		10.4M shares⁴	15.8M shares⁴

Cash from operations⁴-$4.2M in 2023+23% since 2022

Capital spending⁴$2.8M in 2023+361% since 2022

Free cash flow⁴-$6.9M in 2023+74% since 2022

Fiscal year	2022	2023
Cash from operations	-$3.4M⁴	-$4.2M⁴
Depreciation and amortization	$60.0K⁴	$185.9K⁴
Stock-based compensation	$458.3K⁴	$1.3M⁴
Capital spending	$606.7K⁴	$2.8M⁴
Free cash flow	-$4.0M	-$6.9M
Cash from investing	-$606.7K⁴	-$5.7M⁴
Share buybacks		$21.4K⁴
Cash from financing	$14.9M⁴	$6.9M⁴

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What it owns

What Forza X1, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

Item	Latest	A year before	Change
Property and equipment, before depreciation	$3.7M⁴ Dec 31, 2023	$813.9K⁴ Dec 31, 2022	+355.0%
Accumulated depreciation	$234.4K⁴ Dec 31, 2023	$48.5K⁴ Dec 31, 2022	+383.2%
Property and equipment, net	$3.5M⁴ Dec 31, 2023	$765.4K⁴ Dec 31, 2022	+353.2%
Operating-lease assets (leased space)	$75.1K⁴ Dec 31, 2023	$162.1K⁴ Dec 31, 2022	−53.6%

Investments

Item	Latest	A year before	Change
Cash and cash equivalents	$9.8M⁴ Dec 31, 2023	$12.8M⁴ Dec 31, 2022	−23.1%
Marketable securities, current	$3.0M⁴ Dec 31, 2023

Inventory

Item	Latest	A year before	Change
Inventory, total	$493.5K⁴ Dec 31, 2023

Leadership

Who has led Forza X1, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

Chair

Joseph C. Visconti2022–2024

President

Chief financial officer

2025

Chief executive officerJoseph C. Visconti Sep 17, 2024 to Nov 26, 2024⁸
Chief executive officerJames Howard Leffew Aug 11, 2022 to Oct 6, 2023⁹
ChairJoseph C. Visconti Aug 12, 2022 to Nov 26, 2024¹⁰
PresidentDaniel Norton Mar 13, 2024 to Mar 13, 2024¹¹
PresidentJames Howard Leffew Aug 11, 2022 to Oct 6, 2023⁹
Chief financial officerMichael Patrick Dickerson Apr 11, 2024 to Sep 24, 2024¹²
Chief financial officerCarrie L. Majeski Feb 8, 2023 to Oct 6, 2023¹³
Chief financial officerNicole Marie Camacho Aug 11, 2022 to Dec 16, 2022¹⁴

Board members and other officers (8)

Interim CFAOMichael Patrick Dickerson Nov 26, 2024 to Nov 26, 2024¹⁵
ICFO/IPAOCarrie L. Majeski Aug 18, 2023 to Aug 18, 2023¹⁶
EC and Chief of PDJoseph C. Visconti Aug 11, 2022 to Aug 11, 2022¹⁷
Board memberJames Howard Leffew Aug 11, 2022 to Oct 6, 2023⁹
Board memberJoseph C. Visconti Aug 11, 2022 to Sep 17, 2024¹⁷
Board memberKevin Schuyler Aug 11, 2022 to Nov 26, 2024¹⁸
Board memberMarcia Kull Aug 11, 2022 to Nov 26, 2024¹⁹
Board memberNeil Ross Aug 11, 2022 to Nov 26, 2024²⁰

Timeline

Nov 26, 20248-K Completed an acquisition or sale; Listing notice or transfer; Change to shareholders' rights²¹
Nov 12, 20248-K Shareholder vote; Other events²²
Nov 6, 20248-K Other events²³
Oct 4, 20248-K Listing notice or transfer²⁴
Sep 17, 2024New chief executive Joseph C. Visconti becomes CEO⁸
Sep 13, 20248-K Executive or director change²⁵
Aug 15, 20248-K Regulation FD disclosure²⁶
Aug 12, 20248-K Entered a material agreement; Regulation FD disclosure²⁷
Jul 12, 20248-K Exit or restructuring costs²⁸
May 15, 20248-K Results of operations²⁹
Apr 10, 20248-K Executive or director change³⁰
Apr 3, 20248-K Listing notice or transfer³¹
Apr 2, 20248-K Executive or director change³²
Aug 11, 2022New chief executive James Howard Leffew becomes CEO⁹

Calendar

When it reported results

May 15, 2024Reported quarterly or annual results²⁹
Mar 27, 2024Reported quarterly or annual results³³
Nov 6, 2023Reported quarterly or annual results³⁴
Aug 9, 2023Reported quarterly or annual results³⁵
May 10, 2023Reported quarterly or annual results³⁶
Mar 27, 2023Reported quarterly or annual results³⁷
Mar 27, 2023Reported quarterly or annual results³⁸
Nov 8, 2022Reported quarterly or annual results³⁹

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

150 filings to the SEC since October 2021: 2 annual reports, 9 quarterly reports, 31 major events, 41 insider forms, 67 other. The latest 20:

Dec 6, 202415-12G EDGAR
Nov 27, 2024EFFECT EDGAR
Nov 26, 20244 EDGAR
Nov 26, 20244 EDGAR
Nov 26, 20244 EDGAR
Nov 26, 20244 EDGAR
Nov 26, 20244 EDGAR
Nov 26, 2024S-8 POS EDGAR
Nov 26, 2024POS AM EDGAR
Nov 26, 202425 EDGAR
Nov 26, 20248-K EDGAR
Nov 14, 202410-Q EDGAR
Nov 12, 20248-K EDGAR
Nov 6, 2024DEFA14A EDGAR
Nov 6, 20248-K EDGAR
Oct 16, 2024DEFA14A EDGAR
Oct 15, 2024ARS EDGAR
Oct 15, 2024DEFA14A EDGAR
Oct 11, 2024DEF 14A EDGAR
Oct 4, 20248-K EDGAR

The 150 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

14 open-market trades by officers, directors and large owners since October 2021: 14 buys and 0 sales. Grants, option exercises and gifts are left out.

Date	Who	Trade	Shares	Price	Value	Filing
Sep 30, 2024	Ross NeilDirector	Buy	31,117	$0.31	$9.6K	Form 4
Sep 24, 2024	Dickerson Michael PatrickInterim CFAO	Buy	1,179	$0.29	$342	Form 4
Sep 23, 2024	Dickerson Michael PatrickInterim CFAO	Buy	184	$0.26	$48	Form 4
Sep 17, 2024	Dickerson Michael PatrickInterim CFAO	Buy	48,637	$0.26	$12.6K	Form 4
Sep 17, 2024	Schuyler KevinDirector	Buy	90,668	$0.30	$27.2K	Form 4
Sep 13, 2024	VISCONTI JOSEPH CCEO, Executive Chairman, CPO	Buy	28,442	$0.24	$6.8K	Form 4
Aug 17, 2023	VISCONTI JOSEPH CCEO, Executive Chairman, CPO	Buy	49,730	$1.00	$49.7K	Form 4
Aug 16, 2023	VISCONTI JOSEPH CCEO, Executive Chairman, CPO	Buy	270	$1.00	$270	Form 4
Dec 22, 2022	Schuyler KevinDirector	Buy	5,000	$1.14	$5.7K	Form 4
Dec 20, 2022	Schuyler KevinDirector	Buy	4,332	$1.20	$5.2K	Form 4
Dec 14, 2022	Kull MarciaDirector	Buy	4,605	$1.42	$6.5K	Form 4
Dec 13, 2022	Leffew James HowardPresident & CEO	Buy	3,000	$1.42	$4.3K	Form 4
Dec 9, 2022	Leffew James HowardPresident & CEO	Buy	200	$1.47	$294	Form 4
Dec 8, 2022	VISCONTI JOSEPH CCEO, Executive Chairman, CPO	Buy	20,000	$1.44	$28.7K	Form 4

From Forms 4 filed with the SEC.

SEC filer profile

How Forza X1, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

Name on EDGARForza X1, Inc.¹
CIK0001901305
Employer ID (EIN)87-3159685¹
Filer status<br>emerging growth company¹
Incorporated inDelaware¹
Fiscal year endsDecember 31¹
Industry code (SIC)3730 Ship & Boat Building & Repairing¹
SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance¹
Business address3101 S. Us-1, Ft. Pierce, FL 34982¹
Phone772-202-8039¹
Shares outstanding15,754,774 as of Nov 14, 2024⁶
Public float$23.2M as of Jun 30, 2023⁴
On EDGAR sinceDec 23, 2021¹
Filings154 in all: 8-K (30), 4 (28), CORRESP (15), 3 (10), S-1/A (9), 10-Q (8), UPLOAD (8), DEFA14A (5)¹
All 35 form types
EFFECT (4), S-8 (3), 10-K (2), 4/A (2), 424B4 (2), 425 (2), ARS (2), DEF 14A (2), FWP (2), S-1 (2), SC 13G (2), 10-Q/A (1), 144 (1), 15-12G (1), 25 (1), 25-NSE (1), 3/A (1), 424B5 (1), 8-A12B (1), 8-K/A (1), CERT (1), DRS (1), POS AM (1), S-3 (1), S-3/A (1), S-8 POS (1), SC 13G/A (1)
Latest filingsAnnual report (10-K) Mar 27, 2024
Quarterly report (10-Q) Nov 14, 2024
Proxy statement (DEF 14A) Oct 11, 2024
Latest 8-K (8-K) Nov 26, 2024

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARForza X1, Inc. filings on SEC EDGAR
2
SEC EDGARForza X1, Inc. filings on SEC EDGAR
3
SEC EDGARForza X1, Inc. annual report, Item 1 (Business)
4
SEC EDGARForza X1, Inc. 10-K for fiscal 2023
5
SEC EDGARForza X1, Inc. 10-Q for fiscal 2024
6
SEC EDGARForza X1, Inc. 10-Q for fiscal 2024
7
SEC EDGARForza X1, Inc. 10-K for fiscal 2021
8
SEC EDGARJoseph C. Visconti, Chief executive officer
9
SEC EDGARJames Howard Leffew, Chief executive officer
10
SEC EDGARJoseph C. Visconti, Chair
11
SEC EDGARDaniel Norton, President
12
SEC EDGARMichael Patrick Dickerson, Chief financial officer
13
SEC EDGARCarrie L. Majeski, Chief financial officer
14
SEC EDGARNicole Marie Camacho, Chief financial officer
15
SEC EDGARMichael Patrick Dickerson, Interim CFAO
16
SEC EDGARCarrie L. Majeski, ICFO/IPAO
17
SEC EDGARJoseph C. Visconti, EC and Chief of PD
18
SEC EDGARKevin Schuyler, Board member
19
SEC EDGARMarcia Kull, Board member
20
SEC EDGARNeil Ross, Board member
21
SEC EDGARCompleted an acquisition or sale; Listing notice or transfer; Change to shareholders' rights
22
SEC EDGARShareholder vote; Other events
23
SEC EDGAROther events
24
SEC EDGARListing notice or transfer
25
SEC EDGARExecutive or director change
26
SEC EDGARRegulation FD disclosure
27
SEC EDGAREntered a material agreement; Regulation FD disclosure
28
SEC EDGARExit or restructuring costs
29
SEC EDGARResults of operations
30
SEC EDGARExecutive or director change
31
SEC EDGARListing notice or transfer
32
SEC EDGARExecutive or director change
33
SEC EDGARForza X1, Inc. 8-K, Item 2.02 (results of operations)
34
SEC EDGARForza X1, Inc. 8-K, Item 2.02 (results of operations)
35
SEC EDGARForza X1, Inc. 8-K, Item 2.02 (results of operations)
36
SEC EDGARForza X1, Inc. 8-K, Item 2.02 (results of operations)
37
SEC EDGARForza X1, Inc. 8-K, Item 2.02 (results of operations)
38
SEC EDGARForza X1, Inc. 8-K, Item 2.02 (results of operations)
39
SEC EDGARForza X1, Inc. 8-K, Item 2.02 (results of operations)