10-Q Filing

Ideal Power Inc. CIK: 1507957 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001104659-22-061311`
Period End Date	20220331
Filing Date	20220516
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	ipwr-20220331x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 28 Cash Flow Statement 40 Stockholders Equity 24

Balance Sheet 58 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, 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`	$21.73M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	5.91M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.17M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	5.89M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$262.14K	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	5.90M	shares	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	5.89M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$233.26K	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$120.91K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1,321.00	shares	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$43.90K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1,321.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$22.11M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$23.45M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$59.81K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$56.16K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.04M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.06M	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$307.17K	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$292.89K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$11.19K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$11.19K	USD	Point-in-time
Total assets	`Assets`	$24.51M	USD	Point-in-time
Total assets	`Assets`	$25.88M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$130.50K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$380.03K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$353.51K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$315.79K	USD	Point-in-time
Current portion of lease liability	`OperatingLeaseLiabilityCurrent`	$58.86K	USD	Point-in-time
Current portion of lease liability	`OperatingLeaseLiabilityCurrent`	$60.27K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$756.08K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$542.87K	USD	Point-in-time
Long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	$252.09K	USD	Point-in-time
Long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	$267.58K	USD	Point-in-time
Other long-term liabilities	`FiniteLivedLicenseAgreementsLiabilityForFuturePaymentsNoncurrent`	$922.44K	USD	Point-in-time
Other long-term liabilities	`FiniteLivedLicenseAgreementsLiabilityForFuturePaymentsNoncurrent`	$917.10K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.73M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.93M	USD	Point-in-time
Commitments and contingencies (Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 5,905,118 shares issued and 5,903,797 shares outstanding at March 31, 2022 and 5,893,767 shares issued and 5,892,446 shares outstanding at December 31, 2021	`CommonStockValue`	$5.91K	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 5,905,118 shares issued and 5,903,797 shares outstanding at March 31, 2022 and 5,893,767 shares issued and 5,892,446 shares outstanding at December 31, 2021	`CommonStockValue`	$5.89K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$104.06M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$104.40M	USD	Point-in-time
Treasury stock, at cost, 1,321 shares at March 31, 2022 and December 31, 2021	`TreasuryStockValue`	$13.21K	USD	Point-in-time
Treasury stock, at cost, 1,321 shares at March 31, 2022 and December 31, 2021	`TreasuryStockValue`	$13.21K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-81.81M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-79.91M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.83M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$24.15M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$27.54M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$22.58M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$25.88M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$24.51M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Grant revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$125.01K	USD	1 Quarter
Grant revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$242.06K	USD	1 Quarter
Cost of grant revenue	`CostOfRevenue`	$125.01K	USD	1 Quarter
Cost of grant revenue	`CostOfRevenue`	$242.06K	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$828.55K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$260.88K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$852.95K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$600.69K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$62.58K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$219.43K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.90M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$924.14K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.90M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-924.14K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$6.00	USD	1 Quarter
Interest expense, net	`InterestExpense`	$3.72K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-924.15K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.90M	USD	1 Quarter
Net loss per share - basic	`EarningsPerShareBasic`	$-0.31	USD	1 Quarter
Net loss per share - basic	`EarningsPerShareBasic`	$-0.17	USD	1 Quarter
Net loss per share - diluted	`EarningsPerShareDiluted`	$-0.17	USD	1 Quarter
Net loss per share - diluted	`EarningsPerShareDiluted`	$-0.31	USD	1 Quarter
Weighted average number of shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	6.16M	shares	1 Quarter
Weighted average number of shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	5.34M	shares	1 Quarter
Weighted average number of shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.16M	shares	1 Quarter
Weighted average number of shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.34M	shares	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-924.15K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.90M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$29.52K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$44.19K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$61.93K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$231.76K	USD	1 Quarter
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$100.10K	USD	1 Quarter
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$68.68K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$28.88K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-44.40K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$17.71K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$62.72K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$249.53K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$5.31K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-111.31K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-46.47K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-843.34K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.42M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.46K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.03K	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$29.27K	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$16.59K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-27.62K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-30.74K	USD	1 Quarter
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$21.20M	USD	1 Quarter
Exercise of options and warrants	`ProceedsFromExerciseOfOptionsAndWarrants`	$3.30M	USD	1 Quarter
Exercise of options and warrants	`ProceedsFromExerciseOfOptionsAndWarrants`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$24.51M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$23.63M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-1.44M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$26.79M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.17M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.16M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$21.73M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$26.79M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.17M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.16M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$21.73M	USD	Point-in-time

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$3.83M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$24.15M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$27.54M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$22.58M	USD	Point-in-time
Treasury Stock, beginning balance	`TreasuryStockValue`	$13.21K	USD	Point-in-time
Treasury Stock, beginning balance	`TreasuryStockValue`	$13.21K	USD	Point-in-time
Treasury Stock, beginning balance (in shares)	`TreasuryStockShares`	1,321.00	shares	Point-in-time
Treasury Stock, beginning balance (in shares)	`TreasuryStockShares`	1,321.00	shares	Point-in-time
Issuance of shares of common stock in public offering	`StockIssuedDuringPeriodValueNewIssues`	$21.20M	USD	1 Quarter
Exercise of options and warrants	`StockIssuedDuringPeriodValueStockOptionsAndWarrantsExercised`	$3.30M	USD	1 Quarter
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$100.10K	USD	1 Quarter
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$68.68K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$61.93K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$231.76K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-924.15K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.90M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$3.83M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$24.15M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$27.54M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$22.58M	USD	Point-in-time
Treasury Stock, ending balance	`TreasuryStockValue`	$13.21K	USD	Point-in-time
Treasury Stock, ending balance	`TreasuryStockValue`	$13.21K	USD	Point-in-time
Treasury Stock, ending balance (in shares)	`TreasuryStockShares`	1,321.00	shares	Point-in-time
Treasury Stock, ending balance (in shares)	`TreasuryStockShares`	1,321.00	shares	Point-in-time

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