10-K Filing

Ideal Power Inc. CIK: 1507957 FY 2013

Filing Information

Form Type	10-K
Accession Number	`0001144204-14-018885`
Period End Date	20131231
Filing Date	20140328
Fiscal Year	2013
Fiscal Period	FY
XBRL Instance	ipwr-20131231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 36 Cash Flow Statement 62 Stockholders Equity 26

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Unamortized Debt Discount, Current (in dollars)	`UnamortizedDebtDiscountCurrent`	$3.83M	USD	Point-in-time
Unamortized Debt Discount, Current (in dollars)	`UnamortizedDebtDiscountCurrent`	-	USD	Point-in-time
Common Stock, Par or Stated Value Per Share (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Par or Stated Value Per Share (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.97M	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`	$14.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$100.67K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	6.93M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$485.67K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$252.41K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	1.48M	shares	Point-in-time
Inventories, net	`InventoryNet`	$217.87K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	1.48M	shares	Point-in-time
Inventories, net	`InventoryNet`	$519.66K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	6.93M	shares	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$28.47K	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$231.50K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.70M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$15.14M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$27.90K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$85.72K	USD	Point-in-time
Patents, net	`FiniteLivedIntangibleAssetsNet`	$608.91K	USD	Point-in-time
Patents, net	`FiniteLivedIntangibleAssetsNet`	$474.79K	USD	Point-in-time
Total Assets	`Assets`	$15.84M	USD	Point-in-time
Total Assets	`Assets`	$3.21M	USD	Point-in-time
Current portion of long-term debt, net of debt discount of $0 and $3,828,711 at December 31, 2013 and 2012, respectively	`LongTermDebtCurrent`	$1.31M	USD	Point-in-time
Current portion of long-term debt, net of debt discount of $0 and $3,828,711 at December 31, 2013 and 2012, respectively	`LongTermDebtCurrent`	-	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$539.14K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$684.56K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$178.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$461.19K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.18M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	-	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.13M	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 6,931,968 and 1,480,262 shares issued and outstanding at December 31, 2013 and 2012, respectively	`CommonStockValue`	$6.93K	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 6,931,968 and 1,480,262 shares issued and outstanding at December 31, 2013 and 2012, respectively	`CommonStockValue`	$1.48K	USD	Point-in-time
Common stock to be issued	`CommonStockSharesSubscriptions`	$151.66K	USD	Point-in-time
Common stock to be issued	`CommonStockSharesSubscriptions`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$31.43M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$7.10M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$2.66K	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$2.66K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-16.75M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.20M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-1.17M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$14.83M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-101.39K	USD	Point-in-time
Total Liabilities and Stockholders Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$3.21M	USD	Point-in-time
Total Liabilities and Stockholders Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$15.84M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Amortization of Debt Discount (Premium)	`AmortizationOfDebtDiscountPremium`	$5.32M	USD	Annual
Amortization of Debt Discount (Premium)	`AmortizationOfDebtDiscountPremium`	$1.47M	USD	Annual
Products and services	`SalesRevenueGoodsNet`	$417.47K	USD	Annual
Products and services	`SalesRevenueGoodsNet`	$319.55K	USD	Annual
Royalties	`RoyaltyRevenue`	$100.00K	USD	Annual
Royalties	`RoyaltyRevenue`	$100.00K	USD	Annual
Grants	`RevenueFromGrants`	$707.36K	USD	Annual
Grants	`RevenueFromGrants`	$1.37M	USD	Annual
Total revenue	`Revenues`	$1.13M	USD	Annual
Total revenue	`Revenues`	$1.89M	USD	Annual
Products and services	`CostOfGoodsAndServicesSold`	$716.17K	USD	Annual
Products and services	`CostOfGoodsAndServicesSold`	$413.91K	USD	Annual
Grant research and development costs	`ResearchAndDevelopmentExpenseGrants`	$1.43M	USD	Annual
Grant research and development costs	`ResearchAndDevelopmentExpenseGrants`	$709.95K	USD	Annual
Total cost of revenue	`CostOfRevenue`	$2.15M	USD	Annual
Total cost of revenue	`CostOfRevenue`	$1.12M	USD	Annual
Gross profit (loss)	`GrossProfit`	$-254.55K	USD	Annual
Gross profit (loss)	`GrossProfit`	$3.04K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$2.14M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.77M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$1.21M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$1.05M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$221.34K	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$457.29K	USD	Annual
Total operating expenses	`OperatingExpenses`	$3.04M	USD	Annual
Total operating expenses	`OperatingExpenses`	$3.81M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-4.06M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-3.04M	USD	Annual
Interest expense, net (including amortization of debt discount of$5,318,257 and $1,472,904 for the years ended December 31, 2013 and2012, respectively)	`InterestExpense`	$1.61M	USD	Annual
Interest expense, net (including amortization of debt discount of$5,318,257 and $1,472,904 for the years ended December 31, 2013 and2012, respectively)	`InterestExpense`	$5.49M	USD	Annual
Net loss	`NetIncomeLoss`	$-4.65M	USD	Annual
Net loss	`NetIncomeLoss`	$-9.55M	USD	Annual
Net loss per share - basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-4.90	USD	Annual
Net loss per share - basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-3.17	USD	Annual
Weighted average number of shares outstanding - basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.47M	shares	Annual
Weighted average number of shares outstanding - basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.95M	shares	Annual

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.65M	USD	Annual
Net loss	`NetIncomeLoss`	$-9.55M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$29.71K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$52.14K	USD	Annual
Write-down of inventory	`InventoryWriteDown`	-	USD	Annual
Write-down of inventory	`InventoryWriteDown`	$23.65K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$64.60K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$458.98K	USD	Annual
Common stock issued and to be issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$78.99K	USD	Annual
Common stock issued and to be issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$151.66K	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$5.32M	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$1.47M	USD	Annual
Issuance of note payable in connection with services	`IssuanceOfNotePayableInConnectionWithServices`	$213.29K	USD	Annual
Issuance of note payable in connection with services	`IssuanceOfNotePayableInConnectionWithServices`	$86.71K	USD	Annual
Fair value of warrants issued for consulting services	`AdjustmentOfWarrantsGrantedForServices`	$670.95K	USD	Annual
Fair value of warrants issued for consulting services	`AdjustmentOfWarrantsGrantedForServices`	$37.15K	USD	Annual
Stock Issued During Period, Value, Conversion of Convertible Securities, Net of Adjustments, Total	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	$6.27M	USD	Annual
Accrued interest - promissory note	`InterestExpenseDebt`	$80.00K	USD	Annual
Accrued interest - promissory note	`InterestExpenseDebt`	$72.41K	USD	Annual
Adjustments To Additional Paid In Capital Warrant Issued In Connection With Public Offering	`AdjustmentsToAdditionalPaidInCapitalWarrantIssuedInConnectionWithPublicOffering`	$1.68M	USD	Annual
Adjustments to Additional Paid in Capital, Convertible Debt, Beneficial Conversion Feature	`AdjustmentsToAdditionalPaidInCapitalConvertibleDebtBeneficialConversionFeature`	$674.07K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$382.31K	USD	Annual
Adjustments to Additional Paid in Capital, Convertible Debt, Beneficial Conversion Feature	`AdjustmentsToAdditionalPaidInCapitalConvertibleDebtBeneficialConversionFeature`	$1.76M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-233.27K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$87.85K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$325.44K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$203.03K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$27.47K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-145.41K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$435.89K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$446.41K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$31.18K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.17M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-3.24M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$78.94K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.96K	USD	Annual
Acquisition of patents	`PaymentsToAcquireIntangibleAssets`	$142.71K	USD	Annual
Acquisition of patents	`PaymentsToAcquireIntangibleAssets`	$323.07K	USD	Annual
Certificate of deposit	`ProceedsFromSaleAndMaturityOfOtherInvestments`	-	USD	Annual
Certificate of deposit	`ProceedsFromSaleAndMaturityOfOtherInvestments`	$20.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-309.04K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-221.65K	USD	Annual
Repayment of line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-20.00K	USD	Annual
Repayment of line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	-	USD	Annual
Borrowings on notes payable, net of debt raising costs	`ProceedsFromNotesPayable`	$4.32M	USD	Annual
Borrowings on notes payable, net of debt raising costs	`ProceedsFromNotesPayable`	$611.26K	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$52.00K	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$15.02M	USD	Annual
Exercise of warrants	`PaymentsForExerciseOfWarrants`	$4.00	USD	Annual
Exercise of warrants	`PaymentsForExerciseOfWarrants`	-	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$15.63M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$4.35M	USD	Annual
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.87M	USD	Annual
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$12.16M	USD	Annual
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.97M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$14.14M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$100.67K	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.97M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$14.14M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$100.67K	USD	Point-in-time
Interest	`InterestPaid`	$212.00	USD	Annual
Interest	`InterestPaid`	-	USD	Annual

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-1.17M	USD	Point-in-time
Balance	`StockholdersEquity`	$14.83M	USD	Point-in-time
Balance	`StockholdersEquity`	$-101.39K	USD	Point-in-time
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$52.00K	USD	Annual
Issuance of common stock for services	`StockIssuedDuringPeriodValueIssuedForServices`	$78.99K	USD	Annual
Common stock issuable for services	`CommonStockIssuableForServicesValue`	$151.66K	USD	Annual
Shares issued in initial public offering	`StockIssuedDuringPeriodValueNewIssues1`	$17.25M	USD	Annual
Fair value of warrants issued in connection with initial public offering	`AdjustmentsToAdditionalPaidInCapitalWarrantIssuedInConnectionWithPublicOffering`	$1.68M	USD	Annual
Conversion of promissory notes	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	$6.27M	USD	Annual
Contribution on cancellation of promissory note	`AdjustmentsToAdditionalPaidInCapitalContributionOnCancellationOfPromissoryNote`	$1.21M	USD	Annual
Fair value of warrants issued in connection with promissory notes	`AdjustmentsToAdditionalPaidInCapitalWarrantIssuedInConnectionWithPromissoryNotes`	$655.80K	USD	Annual
Fair value of warrants issued in connection with promissory notes	`AdjustmentsToAdditionalPaidInCapitalWarrantIssuedInConnectionWithPromissoryNotes`	$3.09M	USD	Annual
Beneficial conversion feature - convertible promissory notes	`AdjustmentsToAdditionalPaidInCapitalConvertibleDebtBeneficialConversionFeature`	$674.07K	USD	Annual
Beneficial conversion feature - convertible promissory notes	`AdjustmentsToAdditionalPaidInCapitalConvertibleDebtBeneficialConversionFeature`	$1.76M	USD	Annual
Fair value of warrants issued in connection with consulting services	`AdjustmentsToAdditionalPaidInCapitalWarrantIssuedInConnectionWithConsultingServices`	$37.15K	USD	Annual
Fair value of warrants issued in connection with consulting services	`AdjustmentsToAdditionalPaidInCapitalWarrantIssuedInConnectionWithConsultingServices`	$670.95K	USD	Annual
Issuance costs of initial public offering	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$3.92M	USD	Annual
Modification of warrants issued in connection with promissory notes	`AdjustmentsToAdditionalPaidInCapitalModificationOfWarrantIssued`	$20.93K	USD	Annual
Cashless exercise of warrants	`StockIssuedDuringPeriodValueCashlessWarrantsExercised`	$-4.00	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$458.98K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$64.60K	USD	Annual
Net loss	`NetIncomeLoss`	$-4.65M	USD	Annual
Net loss	`NetIncomeLoss`	$-9.55M	USD	Annual
Balance	`StockholdersEquity`	$-1.17M	USD	Point-in-time
Balance	`StockholdersEquity`	$14.83M	USD	Point-in-time
Balance	`StockholdersEquity`	$-101.39K	USD	Point-in-time

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