10-K Filing

Ideal Power Inc. CIK: 1507957 FY 2019

Filing Information

Form Type	10-K
Accession Number	`0001104659-20-040667`
Period End Date	20191231
Filing Date	20200331
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	ipwr-20191231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 34 Cash Flow Statement 42 Stockholders Equity 14

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.06M	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	1.52M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.02M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.26M	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$248.15K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	1.52M	shares	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$333.88K	USD	Point-in-time
Current assets of discontinued operations held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$1.10M	USD	Point-in-time
Current assets of discontinued operations held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	-	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$4.69M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.31M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$63.21K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$47.30K	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	2.10M	shares	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	1.40M	shares	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	2.10M	shares	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	14.72M	shares	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.63M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.40M	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	1.40M	shares	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$260.31K	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1,321.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1,321.00	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$17.92K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$17.92K	USD	Point-in-time
Total assets	`Assets`	$6.17M	USD	Point-in-time
Total assets	`Assets`	$5.27M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$182.96K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$94.20K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$167.75K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$319.13K	USD	Point-in-time
Current portion of lease liability	`OperatingLeaseLiabilityCurrent`	$183.12K	USD	Point-in-time
Current portion of lease liability	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Current liabilities of discontinued operations held for sale	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	-	USD	Point-in-time
Current liabilities of discontinued operations held for sale	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$877.75K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$685.21K	USD	Point-in-time
Long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	$82.06K	USD	Point-in-time
Other long-term liabilities	`OtherLongTermDebtNoncurrent`	$609.24K	USD	Point-in-time
Other long-term liabilities	`OtherLongTermDebtNoncurrent`	$428.16K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.57M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.38M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 10,000,000 shares authorized; 0 shares issued and outstanding at December 31, 2019; 1,518,430 shares issued and outstanding at December 31, 2018	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 10,000,000 shares authorized; 0 shares issued and outstanding at December 31, 2019; 1,518,430 shares issued and outstanding at December 31, 2018	`PreferredStockValue`	$1.52K	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 2,101,272 shares issued and 2,099,951 shares outstanding at December 31, 2019; 1,404,479 shares issued and 1,403,158 shares outstanding at December 31, 2018	`CommonStockValue`	$2.10K	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 2,101,272 shares issued and 2,099,951 shares outstanding at December 31, 2019; 1,404,479 shares issued and 1,403,158 shares outstanding at December 31, 2018	`CommonStockValue`	$1.40K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$71.24M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$68.02M	USD	Point-in-time
Treasury stock, at cost; 1,321 shares at December 31, 2019 and 2018, respectively	`TreasuryStockValue`	$13.21K	USD	Point-in-time
Treasury stock, at cost; 1,321 shares at December 31, 2019 and 2018, respectively	`TreasuryStockValue`	$13.21K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-67.34M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-63.41M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.89M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$11.58M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.60M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$6.17M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$5.27M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	Annual
Product revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	Annual
Cost of product revenue	`CostOfRevenue`	-	USD	Annual
Cost of product revenue	`CostOfRevenue`	-	USD	Annual
Gross profit	`GrossProfit`	-	USD	Annual
Gross profit	`GrossProfit`	-	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$1.05M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$871.74K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$3.44M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$2.07M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	-	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	-	USD	Annual
Total operating expenses	`OperatingExpenses`	$4.31M	USD	Annual
Total operating expenses	`OperatingExpenses`	$3.12M	USD	Annual
Loss from continuing operations before interest	`OperatingIncomeLoss`	$-4.31M	USD	Annual
Loss from continuing operations before interest	`OperatingIncomeLoss`	$-3.12M	USD	Annual
Interest income (expense), net	`InterestIncomeExpenseNet`	$40.02K	USD	Annual
Interest income (expense), net	`InterestIncomeExpenseNet`	$-4.27K	USD	Annual
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-4.27M	USD	Annual
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-3.12M	USD	Annual
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-799.02K	USD	Annual
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-3.63M	USD	Annual
Loss on sale of discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	-	USD	Annual
Loss on sale of discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$-9.11K	USD	Annual
Net loss	`NetIncomeLoss`	$-3.93M	USD	Annual
Net loss	`NetIncomeLoss`	$-7.90M	USD	Annual
Loss from continuing operations per share - basic and fully diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-1.89	USD	Annual
Loss from continuing operations per share - basic and fully diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-3.05	USD	Annual
Loss from discontinued operations per share - basic and fully diluted (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$-0.49	USD	Annual
Loss from discontinued operations per share - basic and fully diluted (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$-2.59	USD	Annual
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-5.64	USD	Annual
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-2.38	USD	Annual
Weighted average number of shares outstanding - basic and fully diluted (in dollars)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.65M	shares	Annual
Weighted average number of shares outstanding - basic and fully diluted (in dollars)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.40M	shares	Annual

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-4.27M	USD	Annual
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-3.12M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$110.46K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$137.51K	USD	Annual
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	$14.71K	USD	Annual
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	$56.50K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$730.80K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$184.34K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-85.73K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$58.35K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$88.75K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-118.62K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$104.96K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-308.50K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-3.83M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.53M	USD	Annual
Net cash used in operating activities - discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-688.07K	USD	Annual
Net cash used in operating activities - discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-2.71M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.09K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.25K	USD	Annual
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$133.06K	USD	Annual
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$99.84K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-104.10K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-134.15K	USD	Annual
Net cash provided by (used in) investing activities - discontinued operations	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	$-78.08K	USD	Annual
Net cash provided by (used in) investing activities - discontinued operations	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	$23.59K	USD	Annual
Net proceeds from issuance of common stock and pre-funded warrants	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Net proceeds from issuance of common stock and pre-funded warrants	`ProceedsFromIssuanceOfCommonStock`	$3.10M	USD	Annual
Payment of taxes related to restricted stock vesting	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$5.72K	USD	Annual
Payment of taxes related to restricted stock vesting	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.10M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.72K	USD	Annual
Net increase (decrease) in cash and cash equivalents - continuing operations	`NetCashProvidedByUsedInContinuingOperations`	$-3.97M	USD	Annual
Net increase (decrease) in cash and cash equivalents - continuing operations	`NetCashProvidedByUsedInContinuingOperations`	$464.09K	USD	Annual
Net decrease in cash and cash equivalents - discontinued operations	`NetCashProvidedByUsedInDiscontinuedOperations`	$-664.49K	USD	Annual
Net decrease in cash and cash equivalents - discontinued operations	`NetCashProvidedByUsedInDiscontinuedOperations`	$-2.79M	USD	Annual
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$3.06M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$10.02M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$3.26M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$3.06M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$10.02M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$3.26M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$3.89M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$11.58M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$4.60M	USD	Point-in-time
Shares and pre-funded warrants issued in offering, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$3.10M	USD	Annual
Common stock tendered to pay taxes on restricted stock vesting	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$428.00	USD	Annual
Vesting of performance stock	`StockIssuedDuringPeriodValueVestingOfPerformanceStock`	$-2.19K	USD	Annual
Vesting of restricted stock	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	$-3.10K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$928.53K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$120.18K	USD	Annual
Net loss for the period	`NetIncomeLoss`	$-3.93M	USD	Annual
Net loss for the period	`NetIncomeLoss`	$-7.90M	USD	Annual
Ending balance	`StockholdersEquity`	$3.89M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$11.58M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$4.60M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.