10-Q Filing

Ideal Power Inc. CIK: 1507957 Q2 2020

Filing Information

Form Type	10-Q
Accession Number	`0001104659-20-094683`
Period End Date	20200630
Filing Date	20200813
Fiscal Year	2020
Fiscal Period	Q2
XBRL Instance	ipwr-20200630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 51 Cash Flow Statement 46 Stockholders Equity 26

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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.44M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	2.10M	shares	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	2.35M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.26M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.79M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.06M	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	2.10M	shares	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	2.35M	shares	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$248.15K	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$223.84K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1,321.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.31M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.02M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1,321.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$47.30K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$46.08K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.59M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.63M	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$260.31K	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$171.85K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$17.92K	USD	Point-in-time
Total assets	`Assets`	$5.27M	USD	Point-in-time
Total assets	`Assets`	$3.83M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$47.33K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$182.96K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$327.33K	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`	$176.99K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$685.21K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$551.65K	USD	Point-in-time
Long-term debt	`LongTermLineOfCredit`	$96.41K	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`	$603.92K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.25M	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; 2,353,306 shares issued and 2,351,985 shares outstanding at June 30, 2020, and 2,101,272 shares issued and 2,099,951 shares outstanding at December 31, 2019, respectively	`CommonStockValue`	$2.10K	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 2,353,306 shares issued and 2,351,985 shares outstanding at June 30, 2020, and 2,101,272 shares issued and 2,099,951 shares outstanding at December 31, 2019, respectively	`CommonStockValue`	$2.35K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$71.24M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$71.69M	USD	Point-in-time
Treasury stock, at cost, 1,321 shares at June 30, 2020 and December 31, 2019	`TreasuryStockValue`	$13.21K	USD	Point-in-time
Treasury stock, at cost, 1,321 shares at June 30, 2020 and December 31, 2019	`TreasuryStockValue`	$13.21K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-67.34M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-69.11M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.58M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.89M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.60M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.53M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.38M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.08M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$3.83M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$5.27M	USD	Point-in-time

Income Statement 51 line items

Line Item	Tag	Value	Unit	Period
Grant revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$6.51K	USD	2 Qtrs
Grant revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$6.51K	USD	1 Quarter
Grant revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	2 Qtrs
Cost of grant revenue	`CostOfRevenue`	$6.51K	USD	2 Qtrs
Cost of grant revenue	`CostOfRevenue`	$6.51K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$553.97K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$335.75K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$666.99K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$316.32K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$580.66K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$515.88K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.10M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.05M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$916.41K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$832.20K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.60M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.76M	USD	2 Qtrs
Loss from continuing operations before interest	`OperatingIncomeLoss`	$-1.60M	USD	2 Qtrs
Loss from continuing operations before interest	`OperatingIncomeLoss`	$-916.41K	USD	1 Quarter
Loss from continuing operations before interest	`OperatingIncomeLoss`	$-1.76M	USD	2 Qtrs
Loss from continuing operations before interest	`OperatingIncomeLoss`	$-832.20K	USD	1 Quarter
Interest (income) expense, net	`InterestIncomeExpenseNet`	$-1.05K	USD	1 Quarter
Interest (income) expense, net	`InterestIncomeExpenseNet`	$-309.00	USD	2 Qtrs
Interest (income) expense, net	`InterestIncomeExpenseNet`	$6.81K	USD	1 Quarter
Interest (income) expense, net	`InterestIncomeExpenseNet`	$-1.12K	USD	2 Qtrs
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-909.61K	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-833.26K	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-1.60M	USD	2 Qtrs
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-1.76M	USD	2 Qtrs
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-342.08K	USD	1 Quarter
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-689.25K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-833.26K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.76M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.25M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-930.50K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.04M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.29M	USD	2 Qtrs
Loss from continuing operations per share - basic and fully diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.28	USD	1 Quarter
Loss from continuing operations per share - basic and fully diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-1.10	USD	2 Qtrs
Loss from continuing operations per share - basic and fully diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.59	USD	2 Qtrs
Loss from continuing operations per share - basic and fully diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.62	USD	1 Quarter
Loss from discontinued operations per share - basic and fully diluted (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$-0.48	USD	2 Qtrs
Loss from discontinued operations per share - basic and fully diluted (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$-0.23	USD	1 Quarter
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.28	USD	1 Quarter
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-1.58	USD	2 Qtrs
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.85	USD	1 Quarter
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.59	USD	2 Qtrs
Weighted average number of shares outstanding - basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.98M	shares	2 Qtrs
Weighted average number of shares outstanding - basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.47M	shares	1 Quarter
Weighted average number of shares outstanding - basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.45M	shares	2 Qtrs
Weighted average number of shares outstanding - basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.00M	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-909.61K	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-833.26K	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-1.60M	USD	2 Qtrs
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-1.76M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$56.50K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$57.25K	USD	2 Qtrs
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	-	USD	2 Qtrs
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	$18.23K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$226.17K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$140.19K	USD	2 Qtrs
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	2 Qtrs
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$50.00K	USD	2 Qtrs
Prepayments and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-112.35K	USD	2 Qtrs
Prepayments and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-42.23K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.84K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-135.62K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-7.59K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$3.14K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.50M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.30M	USD	2 Qtrs
Net cash used in operating activities - discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	-	USD	2 Qtrs
Net cash used in operating activities - discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-465.33K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.19K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.68K	USD	2 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$23.29K	USD	2 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$54.71K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-55.90K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-33.97K	USD	2 Qtrs
Proceeds from loans	`ProceedsFromIssuanceOfDebt`	-	USD	2 Qtrs
Proceeds from loans	`ProceedsFromIssuanceOfDebt`	$96.41K	USD	2 Qtrs
Proceeds from the exercise of warrants	`ProceedsFromWarrantExercises`	$175.82K	USD	2 Qtrs
Proceeds from the exercise of warrants	`ProceedsFromWarrantExercises`	-	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$272.22K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	2 Qtrs
Net decrease in cash and cash equivalents - continuing operations	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-1.35M	USD	2 Qtrs
Net decrease in cash and cash equivalents - continuing operations	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-1.26M	USD	2 Qtrs
Net decrease in cash and cash equivalents - discontinued operations	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffectDiscontinuingOperations`	$-465.33K	USD	2 Qtrs
Net decrease in cash and cash equivalents - discontinued operations	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffectDiscontinuingOperations`	-	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.44M	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`	$1.79M	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`	$1.44M	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`	$1.79M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.06M	USD	Point-in-time

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$2.58M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$3.89M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$4.60M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$3.53M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$2.38M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$3.08M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$116.50K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$109.67K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$101.84K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$-25.81K	USD	1 Quarter
Shares issued for services, value	`StockIssuedDuringPeriodValueIssuedForServices`	$50.00K	USD	1 Quarter
Shares issued for services, value	`StockIssuedDuringPeriodValueIssuedForServices`	$50.00K	USD	Point-in-time
Shares issued for services (in shares)	`StockIssuedDuringPeriodSharesIssuedForServices`	26,316.00	shares	Point-in-time
Exercise of warrants	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	$175.82K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-833.26K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-1.76M	USD	2 Qtrs
Net loss for the period	`NetIncomeLoss`	$-1.25M	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-930.50K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-1.04M	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-2.29M	USD	2 Qtrs
Ending balance	`StockholdersEquity`	$2.58M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$3.89M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$4.60M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$3.53M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$2.38M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$3.08M	USD	Point-in-time

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