10-Q Filing

Ideal Power Inc. CIK: 1507957 Q3 2014

Filing Information

Form Type	10-Q
Accession Number	`0001144204-14-067379`
Period End Date	20140930
Filing Date	20141113
Fiscal Year	2014
Fiscal Period	Q3
XBRL Instance	ipwr-20140930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 71 Cash Flow Statement 57

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`	$9.73M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	7.02M	shares	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
Common Stock, Shares, Issued	`CommonStockSharesIssued`	6.93M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$278.78K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	7.02M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$252.41K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	6.93M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$399.77K	USD	Point-in-time
Inventories, net	`InventoryNet`	$519.66K	USD	Point-in-time
Inventories, net	`InventoryNet`	$343.91K	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$106.70K	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$231.50K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$15.14M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$10.58M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$331.22K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$85.72K	USD	Point-in-time
Patents, net	`FiniteLivedIntangibleAssetsNet`	$912.25K	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`	$11.86M	USD	Point-in-time
Total Assets	`Assets`	$15.84M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$429.43K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$539.14K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$461.19K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$741.80K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.17M	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 7,021,721 and 6,931,968 shares issued and outstanding at September 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; 7,021,721 and 6,931,968 shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively	`CommonStockValue`	$7.02K	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`	$32.34M	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`	$-21.65M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$10.69M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$14.83M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$11.86M	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`	$3.35M	USD	3 Qtrs
Amortization of Debt Discount (Premium)	`AmortizationOfDebtDiscountPremium`	-	USD	3 Qtrs
Amortization of Debt Discount (Premium)	`AmortizationOfDebtDiscountPremium`	$1.27M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$289.00K	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$841.60K	USD	3 Qtrs
Products	`SalesRevenueGoodsNet`	$212.50K	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$396.46K	USD	3 Qtrs
Royalties	`RoyaltyRevenue`	$25.00K	USD	1 Quarter
Royalties	`RoyaltyRevenue`	-	USD	1 Quarter
Royalties	`RoyaltyRevenue`	$75.00K	USD	3 Qtrs
Royalties	`RoyaltyRevenue`	-	USD	3 Qtrs
Grants	`RevenueFromGrants`	$1.17M	USD	3 Qtrs
Grants	`RevenueFromGrants`	$149.03K	USD	1 Quarter
Grants	`RevenueFromGrants`	$448.05K	USD	3 Qtrs
Grants	`RevenueFromGrants`	$370.67K	USD	1 Quarter
Total revenue	`Revenues`	$1.64M	USD	3 Qtrs
Total revenue	`Revenues`	$438.03K	USD	1 Quarter
Total revenue	`Revenues`	$608.17K	USD	1 Quarter
Total revenue	`Revenues`	$1.29M	USD	3 Qtrs
Products	`CostOfGoodsAndServicesSold`	$236.50K	USD	1 Quarter
Products	`CostOfGoodsAndServicesSold`	$539.34K	USD	3 Qtrs
Products	`CostOfGoodsAndServicesSold`	$393.67K	USD	1 Quarter
Products	`CostOfGoodsAndServicesSold`	$1.08M	USD	3 Qtrs
Grant research and development costs	`OtherResearchAndDevelopmentExpense`	$1.20M	USD	3 Qtrs
Grant research and development costs	`OtherResearchAndDevelopmentExpense`	$497.83K	USD	3 Qtrs
Grant research and development costs	`OtherResearchAndDevelopmentExpense`	$383.35K	USD	1 Quarter
Grant research and development costs	`OtherResearchAndDevelopmentExpense`	$165.59K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$619.85K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$559.25K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$1.74M	USD	3 Qtrs
Total cost of revenue	`CostOfRevenue`	$1.58M	USD	3 Qtrs
Gross loss	`GrossProfit`	$-287.03K	USD	3 Qtrs
Gross loss	`GrossProfit`	$-101.04K	USD	3 Qtrs
Gross loss	`GrossProfit`	$-11.69K	USD	1 Quarter
Gross loss	`GrossProfit`	$-121.22K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$762.74K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.25M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$475.35K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.23M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$663.68K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.57M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$825.61K	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$261.05K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$95.73K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$310.82K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$308.08K	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$840.57K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$832.14K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.74M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.64M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$2.39M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-843.83K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.92M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.49M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.86M	USD	1 Quarter
Interest (income) expense, net (including amortization of debt discount of $1,273,512 and $3,348,284, respectively, for the three and nine months ended September 30, 2013)	`InterestIncomeExpenseNet`	$-1.32M	USD	1 Quarter
Interest (income) expense, net (including amortization of debt discount of $1,273,512 and $3,348,284, respectively, for the three and nine months ended September 30, 2013)	`InterestIncomeExpenseNet`	$22.15K	USD	3 Qtrs
Interest (income) expense, net (including amortization of debt discount of $1,273,512 and $3,348,284, respectively, for the three and nine months ended September 30, 2013)	`InterestIncomeExpenseNet`	$6.62K	USD	1 Quarter
Interest (income) expense, net (including amortization of debt discount of $1,273,512 and $3,348,284, respectively, for the three and nine months ended September 30, 2013)	`InterestIncomeExpenseNet`	$-3.49M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.90M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.16M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.85M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.98M	USD	3 Qtrs
Net loss per share - basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.26	USD	1 Quarter
Net loss per share - basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.46	USD	1 Quarter
Net loss per share - basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-4.04	USD	3 Qtrs
Net loss per share - basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.70	USD	3 Qtrs
Weighted average number of shares outstanding - basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.01M	shares	3 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`	7.02M	shares	1 Quarter
Weighted average number of shares outstanding - basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.48M	shares	3 Qtrs

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.90M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.16M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.85M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.98M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$21.16K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$43.25K	USD	3 Qtrs
Write-down of inventory	`InventoryWriteDown`	$5.20K	USD	3 Qtrs
Write-down of inventory	`InventoryWriteDown`	-	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$150.34K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$597.05K	USD	3 Qtrs
Common stock issued or to be issued for services	`StockCompensationEarnedButNotIssued`	$50.00K	USD	3 Qtrs
Common stock issued or to be issued for services	`StockCompensationEarnedButNotIssued`	$124.39K	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$3.35M	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$1.27M	USD	1 Quarter
Fair value of warrants issued for consulting services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$101.88K	USD	3 Qtrs
Fair value of warrants issued for consulting services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	3 Qtrs
Accrued interest - promissory note	`InterestExpenseDebt`	$60.00K	USD	3 Qtrs
Accrued interest - promissory note	`InterestExpenseDebt`	-	USD	3 Qtrs
Issuance of note payable in connection with services	`IssuanceOfNotePayableInConnectionWithServices`	$213.29K	USD	3 Qtrs
Issuance of note payable in connection with services	`IssuanceOfNotePayableInConnectionWithServices`	-	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$147.36K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$483.60K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-175.75K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$168.08K	USD	3 Qtrs
Prepaid expenses and offering costs	`IncreaseDecreaseInPrepaidExpense`	$-88.96K	USD	3 Qtrs
Prepaid expenses and offering costs	`IncreaseDecreaseInPrepaidExpense`	$440.26K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-109.72K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$754.75K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$280.61K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$233.14K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$25.00K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.13M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-3.82M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$32.04K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$278.32K	USD	3 Qtrs
Acquisition of patents	`PaymentsToAcquireIntangibleAssets`	$139.63K	USD	3 Qtrs
Acquisition of patents	`PaymentsToAcquireIntangibleAssets`	$313.77K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-592.08K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-171.67K	USD	3 Qtrs
Borrowings on notes payable, net of debt raising costs	`ProceedsFromNotesPayable`	$611.26K	USD	3 Qtrs
Borrowings on notes payable, net of debt raising costs	`ProceedsFromNotesPayable`	-	USD	3 Qtrs
Exercise of options and warrants	`ProceedsFromExerciseOfOptionsAndWarrants`	-	USD	3 Qtrs
Exercise of options and warrants	`ProceedsFromExerciseOfOptionsAndWarrants`	$4.99K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$4.99K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$611.26K	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.69M	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.41M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.73M	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`	$278.78K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.73M	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`	$278.78K	USD	Point-in-time

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