10-K Filing

Ideal Power Inc. CIK: 1507957 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0001104659-21-041953`
Period End Date	20201231
Filing Date	20210326
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	ipwr-20201231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 36 Cash Flow Statement 50 Stockholders Equity 15

Balance Sheet 64 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.26M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.16M	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	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
Accounts receivable, net	`AccountsReceivableNetCurrent`	$170.29K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$118.88K	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
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$248.15K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.45M	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`	$37.12K	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	2.10M	shares	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	3.27M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$47.30K	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	3.26M	shares	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.63M	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	2.10M	shares	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.57M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1,321.00	shares	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$260.31K	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$79.72K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1,321.00	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$17.92K	USD	Point-in-time
Total assets	`Assets`	$5.27M	USD	Point-in-time
Total assets	`Assets`	$5.13M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$101.98K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$182.96K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$475.49K	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`	$82.06K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$685.21K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$659.53K	USD	Point-in-time
Long-term debt	`LongTermLineOfCredit`	$91.41K	USD	Point-in-time
Long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	$82.06K	USD	Point-in-time
Other long-term liabilities	`OtherLongTermDebtNoncurrent`	$552.03K	USD	Point-in-time
Other long-term liabilities	`OtherLongTermDebtNoncurrent`	$609.24K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.38M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.30M	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; 3,265,740 shares issued and 3,264,419 shares outstanding at December 31, 2020; 2,101,272 shares issued and 2,099,951 shares outstanding at December 31, 2019	`CommonStockValue`	$2.10K	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 3,265,740 shares issued and 3,264,419 shares outstanding at December 31, 2020; 2,101,272 shares issued and 2,099,951 shares outstanding at December 31, 2019	`CommonStockValue`	$3.27K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$78.97M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$71.24M	USD	Point-in-time
Treasury stock, at cost; 1,321 shares at December 31, 2020 and 2019, respectively	`TreasuryStockValue`	$13.21K	USD	Point-in-time
Treasury stock, at cost; 1,321 shares at December 31, 2020 and 2019, respectively	`TreasuryStockValue`	$13.21K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-67.34M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-75.14M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.83M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.60M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.89M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$5.13M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$5.27M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Grant revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$428.13K	USD	Annual
Grant revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	Annual
Cost of grant revenue	`CostOfRevenue`	$428.13K	USD	Annual
Cost of grant 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`	$1.72M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$2.07M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$2.35M	USD	Annual
Total operating expenses	`OperatingExpenses`	$3.12M	USD	Annual
Total operating expenses	`OperatingExpenses`	$4.07M	USD	Annual
Loss from continuing operations before interest	`OperatingIncomeLoss`	$-3.12M	USD	Annual
Loss from continuing operations before interest	`OperatingIncomeLoss`	$-4.07M	USD	Annual
Interest expense, net	`InterestExpense`	$5.05K	USD	Annual
Interest expense, net	`InterestExpense`	$4.27K	USD	Annual
Warrant inducement expense	`WarrantInducementExpense`	$3.72M	USD	Annual
Warrant inducement expense	`WarrantInducementExpense`	-	USD	Annual
Total other expenses	`OtherIncomeExpense`	$-3.73M	USD	Annual
Total other expenses	`OtherIncomeExpense`	$-4.27K	USD	Annual
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-7.79M	USD	Annual
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-3.12M	USD	Annual
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	-	USD	Annual
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-799.02K	USD	Annual
Loss on sale of discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$-9.11K	USD	Annual
Loss on sale of discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	-	USD	Annual
Net loss	`NetIncomeLoss`	$-3.93M	USD	Annual
Net loss	`NetIncomeLoss`	$-7.79M	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`	$-2.20	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`	-	USD	Annual
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-2.38	USD	Annual
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-2.20	USD	Annual
Weighted average number of shares outstanding - basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.65M	shares	Annual
Weighted average number of shares outstanding - basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.54M	shares	Annual

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-7.79M	USD	Annual
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-3.12M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$122.15K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$110.46K	USD	Annual
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	$14.71K	USD	Annual
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	$20.66K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$184.34K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$868.65K	USD	Annual
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	Annual
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$50.00K	USD	Annual
Warrant inducement expense	`WarrantInducementExpense`	$3.72M	USD	Annual
Warrant inducement expense	`WarrantInducementExpense`	-	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$170.29K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-147.19K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-85.73K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$88.75K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-80.97K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$104.96K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$96.61K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.53M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.02M	USD	Annual
Net cash used in operating activities - discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	-	USD	Annual
Net cash used in operating activities - discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-688.07K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.94K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.25K	USD	Annual
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$99.84K	USD	Annual
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$53.22K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-104.10K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-67.16K	USD	Annual
Net cash provided by investing activities - discontinued operations	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	-	USD	Annual
Net cash provided by investing activities - discontinued operations	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	$23.59K	USD	Annual
Proceeds from loans	`ProceedsFromIssuanceOfDebt`	-	USD	Annual
Proceeds from loans	`ProceedsFromIssuanceOfDebt`	$91.41K	USD	Annual
Net proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	-	USD	Annual
Net proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$3.09M	USD	Annual
Net proceeds from issuance of common stock and pre-funded warrants	`ProceedsFromIssuanceOfCommonStock`	$3.10M	USD	Annual
Net proceeds from issuance of common stock and pre-funded warrants	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.19M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.10M	USD	Annual
Net increase in cash and cash equivalents - continuing operations	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$464.09K	USD	Annual
Net increase in cash and cash equivalents - continuing operations	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$99.57K	USD	Annual
Net decrease in cash and cash equivalents - discontinued operations	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffectDiscontinuingOperations`	-	USD	Annual
Net decrease in cash and cash equivalents - discontinued operations	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffectDiscontinuingOperations`	$-664.49K	USD	Annual
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$3.26M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$3.16M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$3.06M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$3.26M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$3.16M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$3.06M	USD	Point-in-time

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$3.83M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$4.60M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$3.89M	USD	Point-in-time
Shares and pre-funded warrants issued in offering, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$3.10M	USD	Annual
Exercise of warrants	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	$546.77K	USD	Annual
Early warrant exercise transaction	`EarlyWarrantsIssuedValue`	$2.55M	USD	Annual
Warrant inducement expense	`AdjustmentToAdditionalPaidInCapitalWarrantInducementExpense`	$3.72M	USD	Annual
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$50.00K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$120.18K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$868.65K	USD	Annual
Net loss for the year	`NetIncomeLoss`	$-3.93M	USD	Annual
Net loss for the year	`NetIncomeLoss`	$-7.79M	USD	Annual
Ending balance	`StockholdersEquity`	$3.83M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$4.60M	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.