TGEN on NYSE

TECOGEN INC.

TECOGEN INC. is an American air-cond and warm air heatg equip and comm and indl refrig equip company.2 It is headquartered in Wilmington, United States.2 Its shares trade on NYSE under the symbol TGEN.2

$2.28 down 0.02 (0.87%)Price as of Oct 15, 2026 at 17:33 UTC

Last updated Oct 20, 2026.

Overview

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  • TickerTGEN on NYSE2
  • IndustryAir-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip2
  • HeadquartersWilmington, United States2
  • Incorporated inDE4
  • Business address76 Treble Cove Road, Bldg. 1, North Billerica, Ma 018624
  • Filer categoryNon-accelerated filer, Smaller reporting company4
  • Legal formCorporation2
  • LEI549300GD898YRLK9SS612
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O CORPORATION SERVICE COMPANY, 19808 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 32890512

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Tecogen Inc., a Delaware corporation (together with its subsidiaries "we", "our", "us", "Tecogen," or "Company") produces commercial and industrial, natural-gas-fueled engine-driven, combined heat and power (CHP) products that reduce energy costs, decrease greenhouse gas emissions and alleviate congestion on the national power grid. Our products supply electric power or mechanical power for cooling, while heat from the engine is recovered and purposefully used at a customer facility. The majority of our customers are located in regions with the highest utility rates, typically California, the Midwest and the Northeast.5 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 2025

36.3%Gross margin6
-30.5%Operating margin6
-30.5%Net margin6
19.7%Revenue growth, 20256
-38.1%Return on equity6
-$10.3MFree cash flow6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Service brought in 61% of the revenue TECOGEN INC. broke down this way in fiscal 2025.

  1. Service$16.6M661%up 3% from 2024
  2. Product$9.1M634%up 106% from 2024
  3. Energy Service$1.3M65%down 37% from 2024
Products and services by year
Products and services20242025
Service$16.1M$16.6M
Product$4.4M$9.1M
Energy Service$2.1M$1.3M

Business segments

Services brought in 61% of the revenue TECOGEN INC. broke down this way in fiscal 2025.

  1. Services$16.6M661%up 3% from 2024
  2. Products$9.1M634%up 106% from 2024
  3. Energy Production$1.3M65%down 37% from 2024
Business segments by year
Business segments20242025
Services$16.1M$16.6M
Products$4.4M$9.1M
Energy Production$2.1M$1.3M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue64¢$17.2M
  • Research and development4¢$1.2M
  • Other costs32¢$8.6M
  • Income tax0¢$20.6K

Out of $27.1M in revenue.6 The company lost money this year.

Financial statements

Revenue78910116$27.1M in 2025−19% since 2019
0$10.0M$20.0M$30.0M$40.0M2019: $33.4M$33.4M20192020: $28.3M$28.3M2020−15%2021: $24.4M$24.4M2021−14%2022: $25.0M$25.0M2022+2%2023: $25.1M$25.1M2023+1%2024: $22.6M$22.6M2024−10%2025: $27.1M$27.1M2025+20%
Gross profit78910116$9.8M in 2025−21% since 2019
0$5.0M$10.0M$15.0M2019: $12.5M$12.5M20192020: $10.8M$10.8M2020−13%2021: $11.6M$11.6M2021+7%2022: $11.1M$11.1M2022−4%2023: $10.2M$10.2M2023−8%2024: $9.9M$9.9M2024−3%2025: $9.8M$9.8M2025−0%
Operating income78910116-$8.2M in 2025+77% since 2019
-$10.0M-$7.5M-$5.0M-$2.5M02019: -$4.7M-$4.7M20192020: -$6.0M-$6.0M2020+28%2021: -$1.2M-$1.2M2021−80%2022: -$2.3M-$2.3M2022+93%2023: -$4.4M-$4.4M2023+88%2024: -$4.5M-$4.5M2024+3%2025: -$8.2M-$8.2M2025+82%
Net income78910116-$8.2M in 2025+75% since 2019
-$10.0M-$5.0M0$5.0M2019: -$4.7M-$4.7M20192020: -$6.2M-$6.2M2020+31%2021: $3.7M$3.7M20212022: -$2.4M-$2.4M20222023: -$4.6M-$4.6M2023+88%2024: -$4.8M-$4.8M2024+4%2025: -$8.2M-$8.2M2025+73%

Every line of the income statement as filed: the last 2 fiscal years, latest first.6

Period ending2025-12-312024-12-31
Total revenues$27.1M$22.6M
Total cost of sales$17.2M$12.7M
Gross profit$9.8M$9.9M
General and administrative$13.5M$11.4M
Selling$2.3M$1.9M
Research and development$1.2M$961.8K
Loss (gain) on sale of assets$183-$12.2K
Long-lived asset impairment$15.0K$0
Goodwill impairment$1.1M$217.3K
Operating Expenses$18.1M$14.4M
Loss from operations-$8.2M-$4.5M
Interest and other income (expense)$151.7K-$26.8K
Interest expense-$150.3K-$90.3K
Gain on the sale of marketable securities$3.7K$0
Unrealized gain on marketable securities$11.0K$0
Total other expense, net$16.1K-$117.1K
Loss before income taxes-$8.2M-$4.7M
State income tax provision$20.6K$22.6K
Consolidated net loss-$8.2M-$4.7M
Loss (income) attributable to the noncontrolling interest$588-$86.5K
Net loss attributable to Tecogen Inc.-$8.2M-$4.8M
Net income (loss) per share - basic (in USD per share)-$0.30-$0.19
Weighted average shares outstanding - basic (in shares)27.2M shares24.9M shares
Net income (loss) per share - diluted (in USD per share)-$0.30-$0.19
Weighted average shares outstanding - diluted (in shares)27.2M shares24.9M shares

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Corporate structure

TECOGEN INC. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of TECOGEN INC.

  • Portolan Capital Management, LLC Filed SCHEDULE 13G on TECOGEN INC., latest Jun 10, 2026
  • Tryfon Natsis Filed SCHEDULE 13G/A on TECOGEN INC., latest Aug 14, 2025
  • Ann Marie Brown Pacheco Filed SC 13G on TECOGEN INC., latest May 10, 2022
  • TECOGEN INC. Wilmington, Delaware, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What TECOGEN 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

ItemLatestA year beforeChange
Property and equipment, before depreciation$5.8M6 Dec 31, 2025$5.7M6 Dec 31, 2024+0.3%
Accumulated depreciation$4.1M6 Dec 31, 2025$4.0M6 Dec 31, 2024+3.7%
Property and equipment, net$1.6M6 Dec 31, 2025$1.7M6 Dec 31, 2024−7.4%
Finance-lease assets$1.4M6 Dec 31, 2025$452.4K6 Dec 31, 2024+217.0%
Operating-lease assets (leased space)$1.5M6 Dec 31, 2025$1.7M6 Dec 31, 2024−13.9%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$12.4M6 Dec 31, 2025$5.4M6 Dec 31, 2024+130.0%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$1.2M6 Dec 31, 2025$2.3M6 Dec 31, 2024−46.8%
Intangible assets, net (excluding goodwill)$2.1M6 Dec 31, 2025$2.5M6 Dec 31, 2024−14.6%
Accumulated amortization$2.7M6 Dec 31, 2025$2.3M6 Dec 31, 2024+16.0%
Finite-lived intangibles, net$2.1M6 Dec 31, 2025$2.5M6 Dec 31, 2024−14.6%

Inventory

ItemLatestA year beforeChange
Inventory, total$10.9M6 Dec 31, 2025$9.6M6 Dec 31, 2024+13.7%
Raw materials$9.4M6 Dec 31, 2025$8.5M6 Dec 31, 2024+9.8%
Work in process$1.4M6 Dec 31, 2025$930.8K6 Dec 31, 2024+51.6%
Finished goods$177.4K6 Dec 31, 2025$177.4K6 Dec 31, 20240%

Properties, in its own words

Our headquarters are located in North Billerica, Massachusetts, consisting of approximately 26,412 square feet of manufacturing, storage and office space, of which approximately 21,000 square feet is dedicated to manufacturing and warehousing.

On March 31, 2023, we entered into two lease agreements for two adjacent buildings located in North Billerica, Massachusetts, to serve as our headquarters and manufacturing facilities. The lease agreements provide for initial lease terms of five (5) years with two successive options to renew for additional terms of five (5) years. Both lease agreements commenced on January 1, 2024, and require payment of the base rent, real estate taxes, common maintenance expenses, and aggregate security deposits in the amount of $38,200. Our costs for initial improvements required to the leased premises is estimated to range between $1,150,000 and $1,200,000. The estimated straight-line monthly rent expense for the initial term of the lease is approximately $26,412 per month. In accordance with ASC 842-20-30-1, we recognized and recorded the lease liability and right-of-use asset using the discount rate for the lease upon the lease commencement date, January 1, 2024. We believe that our facilities are appropriate and adequate for our current needs.

The rest of Item 2

Service Centers

Our eleven leased service centers can be categorized into two different sizes. The larger leased spaces have office space to accommodate administrative, sales and engineering personnel, and warehouse space to stock parts in support of our service contracts. As of December 31, 2025, the service centers that fit this larger category are based in Piscataway, New Jersey and Valley Stream and Buchanan, New York to service the Metro New York City and the Mid-Atlantic region. The San Francisco Bay area and Northern California are served by such a center in Hayward, California. A portion of the corporate headquarters in North Billerica, Massachusetts are used in this manner to service all of our satellite service centers. The smaller service centers are parts depots or warehouses for the stocking of parts in support of our service contracts. These centers are located in Easton, Massachusetts, Los Angeles, California, Sterling Heights, Michigan, Newark, New York, East Windsor, Connecticut, East Syracuse, New York, Toronto, Ontario and Wellesley Chapel, Florida.

Item 2 of the 10-K filed Mar 19, 2026.5

Leadership

Who has led TECOGEN INC., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. John Hatsopoulos2013–2017
  2. Locke M. Benjamin2014–2022
  3. Abinand Rangesh2023–now

President

  1. Robert A. Panora2013–now

Chief financial officer

  1. Bonnie Jean Brown2013–2014
  2. David A. Garrison2014–2016
  3. Abinand Rangesh2022
  4. Roger P. Deschenes2026–now

Chief operating officer

  1. Robert A. Panora2013–now
201520202025
Board members and other officers (15)

Former names

  • TECOGEN INCDec 22, 2011 to Mar 27, 20134

Timeline

  1. Oct 14, 20268-K Other events35
  2. Aug 31, 20268-K Other events36
  3. Aug 12, 20268-K Results of operations; Regulation FD disclosure37
  4. Jul 1, 20268-K Executive or director change38
  5. Jun 5, 20268-K Shareholder vote39
  6. May 12, 20268-K Results of operations; Regulation FD disclosure40
  7. Apr 8, 20268-K Other events41
  8. Mar 18, 20268-K Results of operations; Regulation FD disclosure42
  9. Jan 7, 20268-K Regulation FD disclosure43
  10. Nov 12, 20258-K Results of operations; Regulation FD disclosure44
  11. Sep 17, 20258-K Regulation FD disclosure45
  12. Sep 4, 20258-K Other events46
  13. Mar 27, 2023New chief executive Abinand Rangesh becomes CEO14
  14. Nov 19, 2014New chief executive Locke M. Benjamin becomes CEO15
  15. Oct 1, 2013New chief executive John Hatsopoulos becomes CEO16
  16. Sep 15, 2000Founded TECOGEN INC. is founded2

Calendar

Coming up

  1. Nov 11, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.07) a share, on Nov 12, 2025.47

When it reported results

  1. Aug 12, 2026Reported quarterly or annual results37
  2. May 12, 2026Reported quarterly or annual results40
  3. Mar 18, 2026Reported quarterly or annual results42
  4. Nov 12, 2025Reported quarterly or annual results44
  5. Aug 12, 2025Reported quarterly or annual results48
  6. May 12, 2025Reported quarterly or annual results49
  7. Mar 17, 2025Reported quarterly or annual results50
  8. Nov 14, 2024Reported quarterly or annual results51

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

Filings

283 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 62 major events, 167 insider forms, 3 large holders, 31 other. The latest 20:

  1. Oct 14, 20268-K EDGAR
  2. Sep 8, 20264/A EDGAR
  3. Sep 8, 20264/A EDGAR
  4. Sep 8, 20264/A EDGAR
  5. Sep 8, 20264/A EDGAR
  6. Sep 8, 20264/A EDGAR
  7. Sep 4, 2026424B3 EDGAR
  8. Sep 3, 2026EFFECT EDGAR
  9. Sep 1, 2026EFFECT EDGAR
  10. Sep 1, 2026POS AM EDGAR
  11. Aug 31, 2026S-3 EDGAR
  12. Aug 31, 20268-K EDGAR
  13. Aug 31, 2026S-1/A EDGAR
  14. Aug 13, 202610-Q EDGAR
  15. Aug 12, 20268-K EDGAR
  16. Jul 1, 20268-K EDGAR
  17. Jun 30, 20264 EDGAR
  18. Jun 30, 20264 EDGAR
  19. Jun 30, 20264 EDGAR
  20. Jun 30, 20264 EDGAR

The 283 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

131 open-market trades by officers, directors and large owners since October 2021: 122 buys and 9 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Apr 24, 2026Ghoniem AhmedDirectorBuy12,723$0.79$10.1KForm 4
Apr 13, 2026Hirsch Susan BDirectorBuy5,000$3.73$18.6KForm 4
Mar 27, 2026Hirsch Susan BDirectorBuy10,000$2.54$25.4KForm 4
Mar 27, 2026Lewis EarlDirectorBuy5,000$2.52$12.6KForm 4
Mar 26, 2026Lewis EarlDirectorBuy5,000$2.88$14.4KForm 4
Mar 23, 2026Whiting John Kimball IVGeneral Counsel & SecretaryBuy10,000$2.38$23.8KForm 4
Mar 20, 2026Deschenes Roger P.Chief Financial OfficerBuy10,000$2.23$22.3KForm 4
Mar 20, 2026Rangesh AbinandChief Executive OfficerBuy3,000$2.30$6.9KForm 4
Jun 24, 2025PANORA ROBERT ACOO and PresidentSale900$6.86$6.2KForm 4
Jun 23, 2025PANORA ROBERT ACOO and PresidentSale31,800$6.36$202.2KForm 4
Jun 23, 2025Lafaille StephenVP of Business DevelopmentSale10,000$7.25$72.5KForm 4
Jun 18, 2025PANORA ROBERT ACOO and PresidentSale13,000$5.03$65.4KForm 4
Jun 6, 2025Lafaille StephenVP of Business DevelopmentSale25,000$5.98$149.5KForm 4
Jun 4, 2025PANORA ROBERT ACOO and PresidentSale31,000$5.00$155.0KForm 4
Jun 4, 2025Lafaille StephenVP of Business DevelopmentSale15,000$5.00$75.0KForm 4
Jun 3, 2025PANORA ROBERT ACOO and PresidentSale26,000$4.69$121.9KForm 4
Jun 3, 2025Lafaille StephenVP of Business DevelopmentSale10,000$4.88$48.8KForm 4
Mar 3, 2025Lafaille StephenVP of Business DevelopmentBuy400$2.50$1.0KForm 4
Nov 22, 2024LEWIS EARL RDirectorBuy100,000$0.71$71.0KForm 4
Sep 27, 2024HATSOPOULOS JOHNDirectorBuy10,000$0.84$8.4KForm 4

All 131 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Abinand Rangesh$210.0K$812.5K55
2025Stephen Lafaille$210.3K$412.5K55
2025John K. WhitingIV$176.2K$378.6K55
2025Roger P. Deschenes$164.4K$365.8K55
2025Robert A. Panora$192.1K$194.3K55
2024Chief Executive Officer (Principal Executive Officer)$201.0K$203.5K55
2024Vice President of Business Development$173.6K$175.9K55
2024General Counsel and Secretary$171.7K$174.0K55
2024Chief Operating Officer and President$164.8K$167.3K55
2024Chief Financial and Accounting Officer (Principal Financial and Accounting Officer) and Treasurer$151.9K$153.2K55

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 68. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Portolan Capital Management, LLC1,551,113$8.1M0.3%+1,107,558
Vanguard Capital Management LLC788,670$4.1M0.0%+18,706
Bard Associates Inc682,221$3.6M0.8%−6,088
Clear Harbor Asset Management, LLC650,000$3.4M0.2%No change
HERALD INVESTMENT MANAGEMENT Ltd420,000$2.2M0.3%No change
Gratia Capital, LLC388,660$2.0M2.3%New
UBS Group AG363,049$1.9M0.0%+43,213
Meros Investment Management, LP353,487$1.8M0.6%+61,782
Palisades Investment Partners, LLC323,090$1.7M0.5%−10,817
Susquehanna International Group, Llp315,831$1.6M0.0%+206,374
Morgan Stanley301,695$1.6M0.0%+224,959
Raymond James Financial Inc290,260$1.5M0.0%+104,466
BlackRock, Inc.251,464$1.3M0.0%+66,685
Citadel Advisors LLC242,276$1.3M0.0%+94,804
Huntleigh Advisors, Inc.220,074$1.1M0.2%New
Heartland Advisors Inc182,100$950.6K0.0%New
Geode Capital Management, LLC180,870$944.8K0.0%−11,132
Thompson Davis & Co., Inc.144,840$755.9K0.5%+45,840
New York State Common Retirement Fund137,200$716.2K0.0%No change
Arosa Capital Management LP125,000$652.5K0.6%−225,000
Integrated Wealth Concepts LLC112,080$585.1K0.0%−106,300
Apis Capital Advisors, LLC112,000$584.6K0.1%+35,000
Vanguard Fiduciary Trust Co105,956$553.1K0.0%+9,514
Goldman Sachs Group Inc69,530$362.9K0.0%+44,424
State Street Corp69,226$361.4K0.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

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

  • Name on EDGARTECOGEN INC.1
  • CIK0001537435
  • Employer ID (EIN)04-35361315
  • Filer statusNon–accelerated filer not an emerging growth company; a smaller reporting company; not a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsDecember 311
  • Industry code (SIC)3585 Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip1
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance1
  • Business address76 Treble Cove Road, Bldg. 1, North Billerica, MA 018621
  • Phone781-466-64001
  • Shares outstanding30,187,822 as of Aug 13, 202613
  • Public float$84.2M as of Jun 30, 20255
  • AuditorWOLF & COMPANY, P.C., Boston, Massachusetts PCAOB ID 392; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceDec 22, 20111
  • Filings688 in all: 8-K (186), 4 (172), 10-Q (41), 3 (41), CORRESP (26), UPLOAD (21), S-1/A (20), EFFECT (16)1
    All 47 form types

    10-K (14), 4/A (14), DEF 14A (11), SC 13G (10), SC 13G/A (10), 424B3 (9), 425 (9), DEFA14A (7), POS AM (7), 3/A (6), S-3/A (6), D (5), S-1 (5), S-3 (5), 8-K/A (4), DEF 14C (4), S-8 (4), 5 (3), 8-A12B (3), S-4/A (3), 424B4 (2), CERTNAS (2), CT ORDER (2), PRE 14C (2), RW (2), SC 13D (2), SC 13D/A (2), 10-K/A (1), 25 (1), 8-A12G (1), AW (1), CERT (1), DRS (1), PRE 14A (1), S-1MEF (1), S-4 (1), S-8 POS (1), SCHEDULE 13G (1), SCHEDULE 13G/A (1)

  • Latest filingsAnnual report (10-K) Mar 19, 2026
    Quarterly report (10-Q) Aug 13, 2026
    Proxy statement (DEF 14A) Apr 21, 2026
    Latest 8-K (8-K) Oct 14, 2026

Risk factors and legal proceedings

The risks TECOGEN INC. names in Item 1A of its 10-K filed Mar 19, 2026: 39 risks under these headings, as written.5

  • Risks Relating to Our Business and Financial Condition
  • Our operating history is characterized by net losses. There can be no assurance we will be able to increase our revenues and become profitable in the future.
  • We are dependent on a limited number of third-party suppliers for the supply of key components for our products.
  • We depend on a small number of customers for a substantial portion of our product revenues. The loss of one or more of these customers, or our inability to collect outstanding receivables from such customers could have a material adverse effect on our financial results.
  • The amount of our backlog is subject to fluctuation due to our customers’ experiencing unexpected delays in financing, permitting, or modifications in specifications of the equipment.
  • We experience significant fluctuations in revenues and product mix from quarter to quarter on our product sales which may make period to period comparisons difficult.
  • We expect significant competition for our products and services.
  • We may not achieve production cost reductions necessary to competitively price our products, which would adversely affect our sales.
  • Our products involve a lengthy sales cycle and we may not anticipate sales levels appropriately, which could impair our results of operations.
  • The economic viability of our projects depends on the price spread between natural gas and other fuel and electricity, and the variability of these prices creates a risk that our projects will not be economically viable and that potential customers will avoid such energy price risks.
  • We may make acquisitions or take other corporate strategic actions that could harm our financial performance.
  • Expiring customer contracts may lead to decreases in revenue and increases in expenses.
The other 28 risks
  • Our revenue from energy billing may be adversely impacted by increases in the price of natural gas, reductions in utility rates for electrical power, weather conditions, or by an increase in remote work and study environments, all of which could reduce our revenue.
  • We may be affected by global climate change or by legal, regulatory, or market responses to such change.
  • Our financial condition and results of operations could suffer if there is an impairment of goodwill or intangible assets.
  • Increased costs of labor and employee health and welfare benefits may impact our results of operations.
  • We are dependent on the continued contributions of our senior management and other key employees, and the loss of any of whom could adversely affect our business, operating results, and financial condition.
  • Risks Related to Our Technologies
  • If we are unable to maintain our technological expertise in design and manufacturing processes, we will not be able to successfully compete.
  • Legal, Regulatory and Compliance Risks
  • Changes in regulations applicable to our businesses may impair the profitability of our businesses, and our failure to comply with applicable laws and regulations may increase our costs, reduce our earnings or limit our growth.
  • Agreements with our customers may include potential liquidated damages relating to construction delays or performance guaranties.
  • Utilities or governmental entities could hinder our entry into and growth in the marketplace, and we may not be able to effectively sell our products.
  • The reduction, elimination or expiration of government and economic incentives for applications of our equipment could reduce demand for our equipment and harm our business.
  • We may be exposed to substantial liability claims if we fail to fulfill our obligations to our customers or our on-site equipment malfunctions.
  • Losses or unauthorized access to or releases of confidential information, including personal information, could subject us to significant reputational, financial, legal and operational consequences.
  • Credit and Liquidity Risks
  • We are exposed to credit risks with respect to some of our customers.
  • Risks Relating to Ownership of our Common Stock
  • Investment in our Common Stock is subject to price fluctuations and market volatility.
  • If securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business, our share price and trading volume could decline.
  • Because our directors and executive officers are among our largest stockholders, they can exert influence over our business and affairs and have actual or potential interests that may differ from other stockholders or investors.
  • Current stock holdings may be diluted if we make future equity issuances or if outstanding options are exercised for shares of our common stock.
  • Future sales of our shares by our existing stockholders may cause our stock price to fall.
  • Because we have not and do not intend to pay cash dividends, our stockholders receive no current income from holding our stock.
  • We incur substantial costs to operate as a public reporting company.
  • We are a “smaller reporting company” within the meaning of the Securities Act and Securities Exchange Act and we intend to take advantage of certain exemptions from disclosure requirements available to smaller reporting companies which could make our securities less attractive to investors and may make it more difficult to compare our performance with that of other public companies.
  • Delaware law and our certificate of incorporation and bylaws contain certain provisions, including anti-takeover provisions that limit the ability of stockholders to take certain actions and could delay or discourage takeover attempts that stockholders may consider favorable.
  • General Business Risks
  • Our intellectual property may not be adequately protected.
  • Others may assert that our technology infringes their intellectual property rights.
  • Our business and financial performance may be adversely affected by information systems interruptions, cybersecurity attacks or other disruptions which could have a material adverse effect on our business and results from operations.
  • Our success is dependent upon attracting and retaining highly qualified personnel and the loss of key personnel could significantly hurt our business.
  • Our business may be impacted by political events, war, terrorism, public health issues, natural disasters and other circumstances that are not within our control.
  • We may be subject to litigation, including securities class action litigation, which may harm our business and operating results.

Legal proceedings

We and our properties are not parties to any material pending legal proceedings, other than ordinary routine litigation incidental to our business.

The opening of Item 3, Legal Proceedings.5

Sources

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    Yahoo FinanceTGEN quote
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    SEC EDGAROther events
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