10-Q Filing

Ideal Power Inc. CIK: 1507957 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001144204-14-030509`
Period End Date	20140331
Filing Date	20140514
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	ipwr-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 36 Cash Flow Statement 50

Balance Sheet 50 line items

Line Item	Tag	Value	Unit	Period
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
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`	$1.97M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.22M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.44M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	7.01M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.14M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	6.93M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$340.38K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	7.01M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	6.93M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$252.41K	USD	Point-in-time
Inventories, net	`InventoryNet`	$519.66K	USD	Point-in-time
Inventories, net	`InventoryNet`	$507.60K	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$230.15K	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$231.50K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$13.52M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$15.14M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$85.72K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$117.03K	USD	Point-in-time
Patents, net	`FiniteLivedIntangibleAssetsNet`	$608.91K	USD	Point-in-time
Patents, net	`FiniteLivedIntangibleAssetsNet`	$743.59K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	-	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$35.84K	USD	Point-in-time
Total Assets	`Assets`	$14.42M	USD	Point-in-time
Total Assets	`Assets`	$15.84M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$322.19K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$539.14K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$460.21K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$461.19K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$782.40K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.00M	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; 7,010,959 and 6,931,968 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively	`CommonStockValue`	$6.93K	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 7,010,959 and 6,931,968 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively	`CommonStockValue`	$7.01K	USD	Point-in-time
Common stock to be issued	`CommonStockValueStockCompensationEarnedButNotIssued`	-	USD	Point-in-time
Common stock to be issued	`CommonStockValueStockCompensationEarnedButNotIssued`	$151.66K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$31.43M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$31.81M	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`	$-18.17M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-16.75M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$14.83M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$13.64M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$15.84M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$14.42M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Amortization of Debt Discount (Premium)	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Amortization of Debt Discount (Premium)	`AmortizationOfDebtDiscountPremium`	$1.04M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$108.50K	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$132.90K	USD	1 Quarter
Royalties	`RoyaltyRevenue`	-	USD	1 Quarter
Royalties	`RoyaltyRevenue`	$25.00K	USD	1 Quarter
Grants	`RevenueFromGrants`	$222.24K	USD	1 Quarter
Grants	`RevenueFromGrants`	$182.59K	USD	1 Quarter
Total revenue	`Revenues`	$380.13K	USD	1 Quarter
Total revenue	`Revenues`	$291.10K	USD	1 Quarter
Products	`CostOfGoodsAndServicesSold`	$197.41K	USD	1 Quarter
Products	`CostOfGoodsAndServicesSold`	$195.96K	USD	1 Quarter
Grant research and development costs	`ResearchAndDevelopmentExpenseGrants`	$202.88K	USD	1 Quarter
Grant research and development costs	`ResearchAndDevelopmentExpenseGrants`	$233.33K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$400.29K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$429.29K	USD	1 Quarter
Gross loss	`GrossProfit`	$-49.15K	USD	1 Quarter
Gross loss	`GrossProfit`	$-109.20K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$351.86K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$744.97K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$306.49K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$234.35K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$105.71K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$268.22K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.32M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$691.92K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-741.07K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.43M	USD	1 Quarter
Interest (income) expense, net (including amortization of debt discount of $1,037,386 for the three months ended March 31, 2013)	`InterestIncomeExpenseNet`	$-1.08M	USD	1 Quarter
Interest (income) expense, net (including amortization of debt discount of $1,037,386 for the three months ended March 31, 2013)	`InterestIncomeExpenseNet`	$8.14K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.82M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.42M	USD	1 Quarter
Net loss per share - basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.23	USD	1 Quarter
Net loss per share - basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.20	USD	1 Quarter
Weighted average number of shares outstanding - basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.48M	shares	1 Quarter
Weighted average number of shares outstanding - basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.00M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.82M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.42M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$9.08K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.58K	USD	1 Quarter
Write-down of inventory	`InventoryWriteDown`	-	USD	1 Quarter
Write-down of inventory	`InventoryWriteDown`	$5.20K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$11.49K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$188.57K	USD	1 Quarter
Common stock to be issued for services	`StockCompensationEarnedButNotIssued`	-	USD	1 Quarter
Common stock to be issued for services	`StockCompensationEarnedButNotIssued`	$43.33K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$1.04M	USD	1 Quarter
Fair value of warrants issued for consulting services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$33.96K	USD	1 Quarter
Fair value of warrants issued for consulting services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	1 Quarter
Accrued interest - promissory note	`InterestExpenseDebt`	-	USD	1 Quarter
Accrued interest - promissory note	`InterestExpenseDebt`	$20.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-181.78K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$87.97K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-12.06K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-2.73K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$34.50K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$11.18K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-216.96K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-280.20K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$36.26K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-985.00	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$75.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-697.13K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.52M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.30K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$37.26K	USD	1 Quarter
Acquisition of patents	`PaymentsToAcquireIntangibleAssets`	$137.81K	USD	1 Quarter
Acquisition of patents	`PaymentsToAcquireIntangibleAssets`	$54.88K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-175.07K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-59.18K	USD	1 Quarter
Exercise of options and warrants	`ProceedsFromExerciseOfOptionsAndWarrants`	-	USD	1 Quarter
Exercise of options and warrants	`ProceedsFromExerciseOfOptionsAndWarrants`	$-9.00	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-9.00	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	-	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.69M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-756.32K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.97M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.22M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.44M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.14M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.97M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.22M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.44M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.14M	USD	Point-in-time

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