10-K Filing

Ideal Power Inc. CIK: 1507957 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0001104659-22-037832`
Period End Date	20211231
Filing Date	20220325
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	ipwr-20211231x10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 34 Cash Flow Statement 46 Stockholders Equity 25

Balance Sheet 62 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, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	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`	$3.16M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.17M	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
Accounts receivable, net	`AccountsReceivableNetCurrent`	$233.26K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$170.29K	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`	$118.88K	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$43.90K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.45M	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
Total current assets	`AssetsCurrent`	$23.45M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	3.27M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$56.16K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$37.12K	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	5.89M	shares	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.06M	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	5.89M	shares	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.57M	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	3.26M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1,321.00	shares	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$79.72K	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$307.17K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1,321.00	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$11.19K	USD	Point-in-time
Total assets	`Assets`	$25.88M	USD	Point-in-time
Total assets	`Assets`	$5.13M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$130.50K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$101.98K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$353.51K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$475.49K	USD	Point-in-time
Current portion of lease liability	`OperatingLeaseLiabilityCurrent`	$82.06K	USD	Point-in-time
Current portion of lease liability	`OperatingLeaseLiabilityCurrent`	$58.86K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$659.53K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$542.87K	USD	Point-in-time
Long-term debt	`LongTermLineOfCredit`	$91.41K	USD	Point-in-time
Long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	$267.58K	USD	Point-in-time
Other long-term liabilities	`OtherLongTermDebtNoncurrent`	$552.03K	USD	Point-in-time
Other long-term liabilities	`OtherLongTermDebtNoncurrent`	$917.10K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.73M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.30M	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 5,893,767 shares issued and 5,892,446 shares outstanding at December 31, 2021; 3,265,740 shares issued and 3,264,419 shares outstanding at December 31, 2020	`CommonStockValue`	$3.27K	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 5,893,767 shares issued and 5,892,446 shares outstanding at December 31, 2021; 3,265,740 shares issued and 3,264,419 shares outstanding at December 31, 2020	`CommonStockValue`	$5.89K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$78.97M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$104.06M	USD	Point-in-time
Treasury stock, at cost; 1,321 shares at December 31, 2021 and 2020, respectively	`TreasuryStockValue`	$13.21K	USD	Point-in-time
Treasury stock, at cost; 1,321 shares at December 31, 2021 and 2020, respectively	`TreasuryStockValue`	$13.21K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-79.91M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-75.14M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$24.15M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.89M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.83M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$25.88M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$5.13M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Grant revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$576.40K	USD	Annual
Grant revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$428.13K	USD	Annual
Cost of grant revenue	`CostOfRevenue`	$576.40K	USD	Annual
Cost of grant revenue	`CostOfRevenue`	$428.13K	USD	Annual
Gross profit	`GrossProfit`	-	USD	Annual
Gross profit	`GrossProfit`	-	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$1.72M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$1.93M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$2.41M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$2.31M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$512.81K	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$40.00K	USD	Annual
Total operating expenses	`OperatingExpenses`	$4.85M	USD	Annual
Total operating expenses	`OperatingExpenses`	$4.07M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-4.85M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-4.07M	USD	Annual
Gain on forgiveness of long-term debt	`GainOnForgivenessOfLongTermDebt`	-	USD	Annual
Gain on forgiveness of long-term debt	`GainOnForgivenessOfLongTermDebt`	$91.41K	USD	Annual
Interest expense, net	`InterestExpense`	$5.05K	USD	Annual
Interest expense, net	`InterestExpense`	$12.70K	USD	Annual
Warrant inducement expense	`WarrantInducementExpense`	-	USD	Annual
Warrant inducement expense	`WarrantInducementExpense`	$3.72M	USD	Annual
Total other income (expenses)	`OtherIncomeExpense`	$78.71K	USD	Annual
Total other income (expenses)	`OtherIncomeExpense`	$-3.73M	USD	Annual
Net loss	`NetIncomeLoss`	$-7.79M	USD	Annual
Net loss	`NetIncomeLoss`	$-4.77M	USD	Annual
Net loss per share - basic (in dollars per share)	`EarningsPerShareBasic`	$-2.20	USD	Annual
Net loss per share - basic (in dollars per share)	`EarningsPerShareBasic`	$-0.80	USD	Annual
Net loss per share - diluted (in dollars per share)	`EarningsPerShareDiluted`	$-2.20	USD	Annual
Net loss per share - diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.80	USD	Annual
Weighted average number of shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	5.94M	shares	Annual
Weighted average number of shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	3.54M	shares	Annual
Weighted average number of shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.94M	shares	Annual
Weighted average number of shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.54M	shares	Annual

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-7.79M	USD	Annual
Net loss	`NetIncomeLoss`	$-4.77M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$157.56K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$122.15K	USD	Annual
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	$20.66K	USD	Annual
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	$528.00	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$868.65K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$352.31K	USD	Annual
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$50.00K	USD	Annual
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$207.98K	USD	Annual
Warrant inducement expense	`WarrantInducementExpense`	-	USD	Annual
Warrant inducement expense	`WarrantInducementExpense`	$3.72M	USD	Annual
Gain on forgiveness of long-term debt	`GainOnForgivenessOfLongTermDebt`	-	USD	Annual
Gain on forgiveness of long-term debt	`GainOnForgivenessOfLongTermDebt`	$91.41K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$170.29K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$62.98K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-147.19K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-176.22K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-80.97K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$28.52K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$96.61K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-279.34K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.28M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.02M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.94K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$44.27K	USD	Annual
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$192.67K	USD	Annual
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$53.22K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-67.16K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-236.94K	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$21.20M	USD	Annual
Exercise of options and warrants	`ProceedsFromExerciseOfOptionsAndWarrants`	$3.33M	USD	Annual
Exercise of options and warrants	`ProceedsFromExerciseOfOptionsAndWarrants`	$3.09M	USD	Annual
Proceeds from loans	`ProceedsFromIssuanceOfDebt`	-	USD	Annual
Proceeds from loans	`ProceedsFromIssuanceOfDebt`	$91.41K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.19M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$24.53M	USD	Annual
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$20.01M	USD	Annual
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$99.57K	USD	Annual
Cash and cash equivalents at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.16M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.17M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.06M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.16M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.17M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.06M	USD	Point-in-time

Stockholders Equity 25 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$24.15M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$3.89M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$3.83M	USD	Point-in-time
Treasury Stock, Value, Beginning Balance	`TreasuryStockValue`	$13.21K	USD	Point-in-time
Treasury Stock, Value, Beginning Balance	`TreasuryStockValue`	$13.21K	USD	Point-in-time
Treasury Stock, Shares, Beginning Balance	`TreasuryStockShares`	1,321.00	shares	Point-in-time
Treasury Stock, Shares, Beginning Balance	`TreasuryStockShares`	1,321.00	shares	Point-in-time
Issuance of shares of common stock in public offering	`StockIssuedDuringPeriodValueNewIssues`	$21.20M	USD	Annual
Exercise of warrants	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	$546.77K	USD	Annual
Exercise of options and warrants	`StockIssuedDuringPeriodValueStockOptionsAndWarrantsExercised`	$3.33M	USD	Annual
Early warrant exercise transaction	`EarlyWarrantsIssuedValue`	$2.55M	USD	Annual
Warrant inducement expense	`AdjustmentToAdditionalPaidInCapitalWarrantInducementExpense`	$3.72M	USD	Annual
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$50.00K	USD	Annual
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$207.98K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$868.65K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$352.31K	USD	Annual
Net loss	`NetIncomeLoss`	$-7.79M	USD	Annual
Net loss	`NetIncomeLoss`	$-4.77M	USD	Annual
Ending balance	`StockholdersEquity`	$24.15M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$3.89M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$3.83M	USD	Point-in-time
Treasury Stock, Value, Ending Balance	`TreasuryStockValue`	$13.21K	USD	Point-in-time
Treasury Stock, Value, Ending Balance	`TreasuryStockValue`	$13.21K	USD	Point-in-time
Treasury Stock, Shares, Ending Balance	`TreasuryStockShares`	1,321.00	shares	Point-in-time
Treasury Stock, Shares, Ending Balance	`TreasuryStockShares`	1,321.00	shares	Point-in-time

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