10-Q Filing

Ideal Power Inc. CIK: 1507957 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001104659-20-061589`
Period End Date	20200331
Filing Date	20200514
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	ipwr-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 30 Cash Flow Statement 36 Stockholders Equity 13

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
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
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	2.10M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.23M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.22M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.26M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	2.10M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.06M	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	14.72M	shares	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	2.10M	shares	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$253.90K	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$248.15K	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	2.10M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$2.47M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.31M	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
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$52.16K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$47.30K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.61M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.63M	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$216.52K	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$260.31K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$17.92K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$17.92K	USD	Point-in-time
Total assets	`Assets`	$4.37M	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`	$138.92K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$319.13K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$319.34K	USD	Point-in-time
Current portion of lease liability	`OperatingLeaseLiabilityCurrent`	$188.68K	USD	Point-in-time
Current portion of lease liability	`OperatingLeaseLiabilityCurrent`	$183.12K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$685.21K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$646.94K	USD	Point-in-time
Long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	$82.06K	USD	Point-in-time
Long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	$33.15K	USD	Point-in-time
Other long-term liabilities	`OtherLongTermDebtNoncurrent`	$613.30K	USD	Point-in-time
Other long-term liabilities	`OtherLongTermDebtNoncurrent`	$609.24K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.29M	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
Common stock, $0.001 par value; 50,000,000 shares authorized; 2,101,272 shares issued and 2,099,951 shares outstanding at March 31, 2020 and December 31, 2019	`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 March 31, 2020 and December 31, 2019	`CommonStockValue`	$2.10K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$71.36M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$71.24M	USD	Point-in-time
Treasury stock, at cost, 1,321 shares at March 31, 2020 and December 31, 2019	`TreasuryStockValue`	$13.21K	USD	Point-in-time
Treasury stock, at cost, 1,321 shares at March 31, 2020 and December 31, 2019	`TreasuryStockValue`	$13.21K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-67.34M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-68.27M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.60M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.08M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.53M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.89M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$4.37M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$5.27M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	1 Quarter
Product revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	1 Quarter
Cost of product revenue	`CostOfRevenue`	-	USD	1 Quarter
Cost of product revenue	`CostOfRevenue`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$218.22K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$350.66K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$468.39K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$579.77K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$686.61K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$930.43K	USD	1 Quarter
Loss from continuing operations before interest	`OperatingIncomeLoss`	$-686.61K	USD	1 Quarter
Loss from continuing operations before interest	`OperatingIncomeLoss`	$-930.43K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-67.00	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-7.12K	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-693.72K	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-930.50K	USD	1 Quarter
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	-	USD	1 Quarter
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-347.18K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.04M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-930.50K	USD	1 Quarter
Loss from continuing operations per share - basic and fully diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.49	USD	1 Quarter
Loss from continuing operations per share - basic and fully diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.31	USD	1 Quarter
Loss from discontinued operations per share - basic and fully diluted (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
Loss from discontinued operations per share - basic and fully diluted (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$-0.24	USD	1 Quarter
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.73	USD	1 Quarter
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.31	USD	1 Quarter
Weighted average number of shares outstanding - basic and fully diluted (in dollars)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.97M	shares	1 Quarter
Weighted average number of shares outstanding - basic and fully diluted (in dollars)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.43M	shares	1 Quarter

Cash Flow Statement 36 line items

Line Item	Tag	Value	Unit	Period
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-693.72K	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-930.50K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$27.59K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$28.11K	USD	1 Quarter
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	-	USD	1 Quarter
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	$17.34K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$116.50K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$26.62K	USD	1 Quarter
Prepayments and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$5.75K	USD	1 Quarter
Prepayments and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.04K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-44.04K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$36.25K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$4.71K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$15.18K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-587.03K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-813.63K	USD	1 Quarter
Net cash used in operating activities - discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-409.87K	USD	1 Quarter
Net cash used in operating activities - discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	-	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.68K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.19K	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$31.32K	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$13.38K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-24.06K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-32.52K	USD	1 Quarter
Net decrease in cash and cash equivalents - continuing operations	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-837.69K	USD	1 Quarter
Net decrease in cash and cash equivalents - continuing operations	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-619.55K	USD	1 Quarter
Net decrease in cash and cash equivalents - discontinued operations	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffectDiscontinuingOperations`	$-409.87K	USD	1 Quarter
Net decrease in cash and cash equivalents - discontinued operations	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffectDiscontinuingOperations`	-	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.23M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.22M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.26M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.06M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.23M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.22M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.26M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.06M	USD	Point-in-time

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$4.60M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$3.08M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$3.53M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$3.89M	USD	Point-in-time
Conversion of preferred stock to common stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$116.50K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$-25.81K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-1.04M	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-930.50K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$4.60M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$3.08M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$3.53M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$3.89M	USD	Point-in-time

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