10-Q Filing

Ideal Power Inc. CIK: 1507957 Q2 2022

Filing Information

Form Type	10-Q
Accession Number	`0001104659-22-091273`
Period End Date	20220630
Filing Date	20220815
Fiscal Year	2022
Fiscal Period	Q2
XBRL Instance	ipwr-20220630x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 65 Cash Flow Statement 49 Stockholders Equity 34

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, 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`	5.89M	shares	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	5.91M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.02M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.17M	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	5.90M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$233.26K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$147.16K	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	5.89M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1,321.00	shares	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$261.95K	USD	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`	$20.43M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$23.45M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$56.16K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$53.27K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.06M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.04M	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$307.17K	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$278.39K	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`	$22.81M	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`	$17.76K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$353.51K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$499.02K	USD	Point-in-time
Current portion of lease liability	`OperatingLeaseLiabilityCurrent`	$58.86K	USD	Point-in-time
Current portion of lease liability	`OperatingLeaseLiabilityCurrent`	$61.69K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$542.87K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$578.48K	USD	Point-in-time
Long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	$236.19K	USD	Point-in-time
Long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	$267.58K	USD	Point-in-time
Other long-term liabilities	`FiniteLivedLicenseAgreementsLiabilityForFuturePaymentsNoncurrent`	$877.78K	USD	Point-in-time
Other long-term liabilities	`FiniteLivedLicenseAgreementsLiabilityForFuturePaymentsNoncurrent`	$917.10K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.69M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.73M	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 6)	`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 June 30, 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 June 30, 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`	$104.63M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$104.06M	USD	Point-in-time
Treasury stock, at cost, 1,321 shares at June 30, 2022 and December 31, 2021	`TreasuryStockValue`	$13.21K	USD	Point-in-time
Treasury stock, at cost, 1,321 shares at June 30, 2022 and December 31, 2021	`TreasuryStockValue`	$13.21K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-79.91M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-83.50M	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`	$21.12M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$26.45M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$22.58M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$27.54M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$25.88M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$22.81M	USD	Point-in-time

Income Statement 65 line items

Line Item	Tag	Value	Unit	Period
Grant revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$50.98K	USD	1 Quarter
Grant revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$84.70K	USD	1 Quarter
Grant revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$175.99K	USD	2 Qtrs
Grant revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$326.77K	USD	2 Qtrs
Cost of grant revenue	`CostOfRevenue`	$50.98K	USD	1 Quarter
Cost of grant revenue	`CostOfRevenue`	$326.77K	USD	2 Qtrs
Cost of grant revenue	`CostOfRevenue`	$84.70K	USD	1 Quarter
Cost of grant revenue	`CostOfRevenue`	$175.99K	USD	2 Qtrs
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	2 Qtrs
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$560.69K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.56M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$728.38K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$821.57K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.20M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$603.52K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.59M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$734.64K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$174.61K	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$233.15K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$112.03K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$452.58K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$2.20M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.70M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.28M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.60M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-3.60M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.70M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.28M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.20M	USD	2 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNet`	$-1.86K	USD	2 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNet`	$-1.86K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$6.18K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$2.46K	USD	2 Qtrs
Gain on forgiveness of long-term debt	`GainOnForgivenessOfLongTermDebt`	$91.41K	USD	1 Quarter
Gain on forgiveness of long-term debt	`GainOnForgivenessOfLongTermDebt`	$91.41K	USD	2 Qtrs
Gain on forgiveness of long-term debt	`GainOnForgivenessOfLongTermDebt`	-	USD	2 Qtrs
Total other income	`OtherIncomeExpense`	$89.55K	USD	2 Qtrs
Total other income	`OtherIncomeExpense`	$6.18K	USD	1 Quarter
Total other income	`OtherIncomeExpense`	$2.46K	USD	2 Qtrs
Total other income	`OtherIncomeExpense`	$89.55K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.11M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-924.15K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.59M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.69M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.19M	USD	1 Quarter
Net loss per share - basic	`EarningsPerShareBasic`	$-0.37	USD	2 Qtrs
Net loss per share - basic	`EarningsPerShareBasic`	$-0.19	USD	1 Quarter
Net loss per share - basic	`EarningsPerShareBasic`	$-0.58	USD	2 Qtrs
Net loss per share - basic	`EarningsPerShareBasic`	$-0.27	USD	1 Quarter
Net loss per share - diluted	`EarningsPerShareDiluted`	$-0.19	USD	1 Quarter
Net loss per share - diluted	`EarningsPerShareDiluted`	$-0.58	USD	2 Qtrs
Net loss per share - diluted	`EarningsPerShareDiluted`	$-0.27	USD	1 Quarter
Net loss per share - diluted	`EarningsPerShareDiluted`	$-0.37	USD	2 Qtrs
Weighted average number of shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	6.16M	shares	1 Quarter
Weighted average number of shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	6.16M	shares	2 Qtrs
Weighted average number of shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	6.13M	shares	1 Quarter
Weighted average number of shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	5.74M	shares	2 Qtrs
Weighted average number of shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.16M	shares	2 Qtrs
Weighted average number of shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.13M	shares	1 Quarter
Weighted average number of shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.74M	shares	2 Qtrs
Weighted average number of shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.16M	shares	1 Quarter

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.11M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-924.15K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.59M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.69M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.19M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$70.34K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$89.05K	USD	2 Qtrs
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	-	USD	2 Qtrs
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	$528.00	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$462.24K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$153.64K	USD	2 Qtrs
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$68.68K	USD	2 Qtrs
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$100.10K	USD	2 Qtrs
Gain on forgiveness of long-term debt	`GainOnForgivenessOfLongTermDebt`	$91.41K	USD	1 Quarter
Gain on forgiveness of long-term debt	`GainOnForgivenessOfLongTermDebt`	$91.41K	USD	2 Qtrs
Gain on forgiveness of long-term debt	`GainOnForgivenessOfLongTermDebt`	-	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-37.92K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-86.10K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$189.26K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$57.66K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$57.12K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-112.74K	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$70.58K	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$77.63K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.08M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.80M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.25K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$32.92K	USD	2 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$112.10K	USD	2 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$55.67K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-145.02K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-67.92K	USD	2 Qtrs
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$21.20M	USD	2 Qtrs
Exercise of options and warrants	`ProceedsFromExerciseOfOptionsAndWarrants`	-	USD	2 Qtrs
Exercise of options and warrants	`ProceedsFromExerciseOfOptionsAndWarrants`	$3.30M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$24.51M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$22.56M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-3.15M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.17M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.02M	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`	$25.72M	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`	$20.02M	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`	$25.72M	USD	Point-in-time

Stockholders Equity 34 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`	$21.12M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$26.45M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$22.58M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$27.54M	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`	$68.68K	USD	1 Quarter
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$100.10K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$230.47K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$231.76K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$61.93K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$91.71K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.11M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-924.15K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.59M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.69M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.19M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$3.83M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$24.15M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$21.12M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$26.45M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$22.58M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$27.54M	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.