10-Q Filing

Ideal Power Inc. CIK: 1507957 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001144204-14-049353`
Period End Date	20140630
Filing Date	20140813
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	ipwr-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 71 Cash Flow Statement 53

Balance Sheet 48 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`	$11.15M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.97M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$372.54K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	7.01M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	6.93M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	7.01M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$405.01K	USD	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`	$246.93K	USD	Point-in-time
Inventories, net	`InventoryNet`	$519.66K	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$231.50K	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$172.92K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$15.14M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.97M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$85.72K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$306.75K	USD	Point-in-time
Patents, net	`FiniteLivedIntangibleAssetsNet`	$856.95K	USD	Point-in-time
Patents, net	`FiniteLivedIntangibleAssetsNet`	$608.91K	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`	$15.84M	USD	Point-in-time
Total Assets	`Assets`	$13.17M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$539.14K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$343.50K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$591.39K	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`	$934.89K	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 7,012,397 and 6,931,968 shares issued and outstanding at June 30, 2014 and December 31, 2013, respectively	`CommonStockValue`	$6.93K	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 7,012,397 and 6,931,968 shares issued and outstanding at June 30, 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`	$32.03M	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`	$-19.80M	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`	$12.24M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$13.17M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$15.84M	USD	Point-in-time

Income Statement 71 line items

Line Item	Tag	Value	Unit	Period
Amortization of Debt Discount (Premium)	`AmortizationOfDebtDiscountPremium`	$1.04M	USD	1 Quarter
Amortization of Debt Discount (Premium)	`AmortizationOfDebtDiscountPremium`	-	USD	2 Qtrs
Amortization of Debt Discount (Premium)	`AmortizationOfDebtDiscountPremium`	$2.07M	USD	2 Qtrs
Products	`SalesRevenueGoodsNet`	$51.07K	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$552.60K	USD	2 Qtrs
Products	`SalesRevenueGoodsNet`	$444.10K	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$183.97K	USD	2 Qtrs
Royalties	`RoyaltyRevenue`	$50.00K	USD	2 Qtrs
Royalties	`RoyaltyRevenue`	-	USD	1 Quarter
Royalties	`RoyaltyRevenue`	-	USD	2 Qtrs
Royalties	`RoyaltyRevenue`	$25.00K	USD	1 Quarter
Grants	`RevenueFromGrants`	$574.21K	USD	1 Quarter
Grants	`RevenueFromGrants`	$116.43K	USD	1 Quarter
Grants	`RevenueFromGrants`	$796.45K	USD	2 Qtrs
Grants	`RevenueFromGrants`	$299.02K	USD	2 Qtrs
Total revenue	`Revenues`	$650.28K	USD	1 Quarter
Total revenue	`Revenues`	$560.53K	USD	1 Quarter
Total revenue	`Revenues`	$1.03M	USD	2 Qtrs
Total revenue	`Revenues`	$851.62K	USD	2 Qtrs
Products	`CostOfGoodsAndServicesSold`	$302.84K	USD	2 Qtrs
Products	`CostOfGoodsAndServicesSold`	$685.18K	USD	2 Qtrs
Products	`CostOfGoodsAndServicesSold`	$487.77K	USD	1 Quarter
Products	`CostOfGoodsAndServicesSold`	$106.88K	USD	1 Quarter
Grant research and development costs	`OtherResearchAndDevelopmentExpense`	$332.25K	USD	2 Qtrs
Grant research and development costs	`OtherResearchAndDevelopmentExpense`	$129.36K	USD	1 Quarter
Grant research and development costs	`OtherResearchAndDevelopmentExpense`	$816.94K	USD	2 Qtrs
Grant research and development costs	`OtherResearchAndDevelopmentExpense`	$583.61K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$617.13K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$1.12M	USD	2 Qtrs
Total cost of revenue	`CostOfRevenue`	$1.02M	USD	2 Qtrs
Total cost of revenue	`CostOfRevenue`	$690.49K	USD	1 Quarter
Gross loss	`GrossProfit`	$-89.36K	USD	2 Qtrs
Gross loss	`GrossProfit`	$-165.80K	USD	2 Qtrs
Gross loss	`GrossProfit`	$-56.60K	USD	1 Quarter
Gross loss	`GrossProfit`	$-40.21K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$778.84K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.46M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$718.29K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$426.98K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$330.21K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$564.56K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$598.54K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$905.03K	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$529.75K	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$106.64K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$261.53K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$212.35K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$863.82K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.90M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.58M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.56M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-904.03K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.06M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.65M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.63M	USD	1 Quarter
Interest (income) expense, net (including amortization of debt discount of $1,037,386 and $2,074,772, respectively, for the three and six months ended June 30, 2013)	`InterestIncomeExpenseNet`	$15.53K	USD	2 Qtrs
Interest (income) expense, net (including amortization of debt discount of $1,037,386 and $2,074,772, respectively, for the three and six months ended June 30, 2013)	`InterestIncomeExpenseNet`	$-2.17M	USD	2 Qtrs
Interest (income) expense, net (including amortization of debt discount of $1,037,386 and $2,074,772, respectively, for the three and six months ended June 30, 2013)	`InterestIncomeExpenseNet`	$-1.08M	USD	1 Quarter
Interest (income) expense, net (including amortization of debt discount of $1,037,386 and $2,074,772, respectively, for the three and six months ended June 30, 2013)	`InterestIncomeExpenseNet`	$7.39K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.81M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.99M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.05M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.63M	USD	1 Quarter
Net loss per share - basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.23	USD	1 Quarter
Net loss per share - basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.34	USD	1 Quarter
Net loss per share - basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.44	USD	2 Qtrs
Net loss per share - basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-2.58	USD	2 Qtrs
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`	7.01M	shares	1 Quarter
Weighted average number of shares outstanding - basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.48M	shares	2 Qtrs
Weighted average number of shares outstanding - basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.01M	shares	2 Qtrs

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.81M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.99M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.05M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.63M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$19.71K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$12.62K	USD	2 Qtrs
Write-down of inventory	`InventoryWriteDown`	-	USD	2 Qtrs
Write-down of inventory	`InventoryWriteDown`	$5.20K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$22.98K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$379.28K	USD	2 Qtrs
Common stock to be issued for services	`StockCompensationEarnedButNotIssued`	-	USD	2 Qtrs
Common stock to be issued for services	`StockCompensationEarnedButNotIssued`	$87.50K	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$1.04M	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$2.07M	USD	2 Qtrs
Fair value of warrants issued for consulting services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$67.92K	USD	2 Qtrs
Fair value of warrants issued for consulting services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	2 Qtrs
Accrued interest - promissory note	`InterestExpenseDebt`	$40.00K	USD	2 Qtrs
Accrued interest - promissory note	`InterestExpenseDebt`	-	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$148.16K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$152.60K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-272.72K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$20.42K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-22.73K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$114.52K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$251.45K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-195.65K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$130.20K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$79.06K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$50.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.47M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.50M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$233.97K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.55K	USD	2 Qtrs
Acquisition of patents	`PaymentsToAcquireIntangibleAssets`	$254.81K	USD	2 Qtrs
Acquisition of patents	`PaymentsToAcquireIntangibleAssets`	$116.72K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-488.78K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-128.27K	USD	2 Qtrs
Exercise of options and warrants	`ProceedsFromExerciseOfOptionsAndWarrants`	$4.99K	USD	2 Qtrs
Exercise of options and warrants	`ProceedsFromExerciseOfOptionsAndWarrants`	-	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$4.99K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	-	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.99M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.60M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.15M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.97M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.14M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$372.54K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.15M	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`	$14.14M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$372.54K	USD	Point-in-time

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