Twin Vee Powercats Inc (VEEE)

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TVPC~~~5) Issuer’s Business, Products and Services
The purpose of this section is to provide a clear description of the issuer’s current operations. In answering this item,
please include the following:
A. Summarize the issuer’s business operations (If the issuer does not have current operations, state “no
operations”)
Twin Vee PowerCats, Inc. markets and sells its power catamaran boats in the United States and abroad.
Twin Vee boats are used for deep water, bay and lake fishing, water sports, as well as general recreational
and pleasure boating. It is one of the most recognized brand names in the power catamaran category and
its portfolio of PowerCats is manufactured to the highest specifications in quality, performance, and styling.
Twin Vee has cultivated our brand through industry-leading innovation, which has led to numerous industry
achievements, awards, and accolades.
Formally known as Value Rich, Inc. between 2006 and 2015, we were in the business of real estate
development and publishing. However, on September 9, 2015, we acquired Twin Vee Catamarans, Inc.
Twin Vee Catamarans was founded in 1994 and since that time has designed, manufactured, and sold
power boats, primarily under the "Twin Vee" brand name. Since we acquired Twin Vee Catamarans we
have concentrated on perfecting the high-speed, twin displacement hull design also known as a "catamaran
powerboat" or which we call “PowerCats”.
We then changed our name to Twin Vee PowerCats, Inc. in 2016. The Twin Vee business mission
continues to be based upon the principle of producing a safe, reliable, quality twin hull powerboat at an
affordable price. Our Twin Vee boats are priced (without motors) from $7,500, for the 17- foot Bay Cat, to
$135,000 for the 36-foot Ocean Cat.
All Twin Vee PowerCats, from hull to upholstery, are handcrafted by our skilled workforce at our corporate
headquarters in Ft. Pierce, Florida. We use only the highest quality materials from industry-preferred
suppliers and our boats are extensively tested prior to sale. We have made significant investments in new
technology. Over the past two years, Twin Vee has added two five-axis overhead gantry computer
numerical control (“CNC”) routers responsible for milling Twin Vee’s new line of PowerCats that saw
production time cut significantly. Since then, Twin Vee has begun working on plans to build an entirely new
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building on the property to help increase its production capacity even further. Moreover, Twin Vee is
seeking to increase its workforce to 100 employees to help meet the demand of power catamarans has
seen in the marine industry. We believe our new product development capabilities will enable us to
consistently create new and unique hull shapes and product features with shorter lead times and at lower
development costs than our competitors. We are able to design, develop and produce a new model in 50-
70% less the time and money required by competing boat companies. Most boat manufactures outsource
their design and mold building to an outside source or vendor. Twin Vee, however, has made the investment
to bring all these time-consuming and expensive processes in-house.
Recent investments in infrastructure, value-added processes, and engineering have resulted in lower
material waste, reduced labor hours per boat, reduced re- work, and increased production efficiencies. We
are able to narrow pricing gaps while increasing margins by controlling costs through disciplined
engineering and manufacturing processes.
We primarily market and sell our boats through a network of 16 independent dealers in 22 locations in North
America. However, we are always striving to recruit and establish new dealers and distributors domestically
and abroad to help spread brand awareness and allow us to reach consumers in underrepresented areas


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