10-K Filing

Ideal Power Inc. CIK: 1507957 FY 2014

Filing Information

Form Type	10-K
Accession Number	`0001144204-15-018355`
Period End Date	20141231
Filing Date	20150325
Fiscal Year	2014
Fiscal Period	FY
XBRL Instance	ipwr-20141231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 36 Cash Flow Statement 56 Stockholders Equity 24

Balance Sheet 50 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`	$14.14M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	6.93M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.97M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	7.05M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.91M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$446.52K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	7.05M	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`	$251.34K	USD	Point-in-time
Inventories, net	`InventoryNet`	$519.66K	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$263.61K	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$231.50K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.87M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$15.14M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$374.38K	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`	$1.01M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$17.92K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	-	USD	Point-in-time
Total Assets	`Assets`	$15.84M	USD	Point-in-time
Total Assets	`Assets`	$10.28M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$539.14K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$441.64K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$461.19K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$773.12K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.21M	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; 7,048,235 and 6,931,968 shares issued and outstanding at December 31, 2014 and 2013, respectively	`CommonStockValue`	$7.05K	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 7,048,235 and 6,931,968 shares issued and outstanding at December 31, 2014 and 2013, respectively	`CommonStockValue`	$6.93K	USD	Point-in-time
Common stock to be issued	`CommonStockValueStockCompensationEarnedButNotIssued`	$151.66K	USD	Point-in-time
Common stock to be issued	`CommonStockValueStockCompensationEarnedButNotIssued`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$32.71M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$31.43M	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`	$-23.65M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$14.83M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$-101.39K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$9.06M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$15.84M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$10.28M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Amortization of Debt Discount (Premium)	`AmortizationOfDebtDiscountPremium`	-	USD	Annual
Amortization of Debt Discount (Premium)	`AmortizationOfDebtDiscountPremium`	$5.32M	USD	Annual
Products	`SalesRevenueGoodsNet`	$1.22M	USD	Annual
Products	`SalesRevenueGoodsNet`	$417.47K	USD	Annual
Royalties	`RoyaltyRevenue`	$100.00K	USD	Annual
Royalties	`RoyaltyRevenue`	-	USD	Annual
Grants	`RevenueFromGrants`	$579.08K	USD	Annual
Grants	`RevenueFromGrants`	$1.37M	USD	Annual
Total revenue	`Revenues`	$1.79M	USD	Annual
Total revenue	`Revenues`	$1.89M	USD	Annual
Products	`CostOfGoodsAndServicesSold`	$1.63M	USD	Annual
Products	`CostOfGoodsAndServicesSold`	$716.17K	USD	Annual
Grant research and development costs	`OtherResearchAndDevelopmentExpense`	$1.43M	USD	Annual
Grant research and development costs	`OtherResearchAndDevelopmentExpense`	$643.42K	USD	Annual
Total cost of revenue	`CostOfRevenue`	$2.15M	USD	Annual
Total cost of revenue	`CostOfRevenue`	$2.27M	USD	Annual
Gross loss	`GrossProfit`	$-476.76K	USD	Annual
Gross loss	`GrossProfit`	$-254.55K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$2.99M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$2.14M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$1.21M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$2.26M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$457.29K	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$1.20M	USD	Annual
Total operating expenses	`OperatingExpenses`	$3.81M	USD	Annual
Total operating expenses	`OperatingExpenses`	$6.45M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-4.06M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-6.93M	USD	Annual
Interest (income) expense, net (including amortization of debt discount of $5,318,257 for the year ended December 31, 2013)	`InterestIncomeExpenseNet`	$-5.49M	USD	Annual
Interest (income) expense, net (including amortization of debt discount of $5,318,257 for the year ended December 31, 2013)	`InterestIncomeExpenseNet`	$27.71K	USD	Annual
Net loss	`NetIncomeLoss`	$-9.55M	USD	Annual
Net loss	`NetIncomeLoss`	$-6.90M	USD	Annual
Net loss per share - basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.98	USD	Annual
Net loss per share - basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-4.90	USD	Annual
Weighted average number of shares outstanding - basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.02M	shares	Annual
Weighted average number of shares outstanding - basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.95M	shares	Annual

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-9.55M	USD	Annual
Net loss	`NetIncomeLoss`	$-6.90M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$29.71K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$67.79K	USD	Annual
Write-down of inventory	`InventoryWriteDown`	$62.85K	USD	Annual
Write-down of inventory	`InventoryWriteDown`	$23.65K	USD	Annual
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	-	USD	Annual
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$24.77K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$944.10K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$458.98K	USD	Annual
Common stock issued and to be issued for services	`StockCompensationEarnedButNotIssued`	$151.66K	USD	Annual
Common stock issued and to be issued for services	`StockCompensationEarnedButNotIssued`	$50.00K	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$5.32M	USD	Annual
Issuance of note payable in connection with services	`IssuanceOfNotePayableInConnectionWithServices`	-	USD	Annual
Issuance of note payable in connection with services	`IssuanceOfNotePayableInConnectionWithServices`	$213.29K	USD	Annual
Fair value of warrants issued for consulting services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$37.15K	USD	Annual
Fair value of warrants issued for consulting services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$130.18K	USD	Annual
Stock Issued During Period, Value, Conversion of Convertible Securities, Net of Adjustments	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	$6.27M	USD	Annual
Accrued interest - promissory note	`InterestExpenseDebt`	-	USD	Annual
Adjustments To Additional Paid In Capital Warrant Issued In Connection With Public Offering	`AdjustmentsToAdditionalPaidInCapitalWarrantIssuedInConnectionWithPublicOffering`	$1.68M	USD	Annual
Accrued interest - promissory note	`InterestExpenseDebt`	$72.41K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-233.27K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$218.89K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-205.47K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$325.44K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$203.03K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$50.03K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-145.41K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-97.51K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$311.93K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$446.41K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-5.47M	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`	$342.25K	USD	Annual
Acquisition of patents	`PaymentsToAcquireIntangibleAssets`	$142.71K	USD	Annual
Acquisition of patents	`PaymentsToAcquireIntangibleAssets`	$418.25K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-760.50K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-221.65K	USD	Annual
Borrowings on notes payable, net of debt raising costs	`ProceedsFromNotesPayable`	-	USD	Annual
Borrowings on notes payable, net of debt raising costs	`ProceedsFromNotesPayable`	$611.26K	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$15.02M	USD	Annual
Exercise of options and warrants	`ProceedsFromPaymentsForExerciseOfOptionsAndWarrants`	$4.97K	USD	Annual
Exercise of options and warrants	`ProceedsFromPaymentsForExerciseOfOptionsAndWarrants`	$-4.00	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$15.63M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$4.97K	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$12.16M	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.23M	USD	Annual
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$14.14M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.97M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$7.91M	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`	$1.97M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$7.91M	USD	Point-in-time

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$14.83M	USD	Point-in-time
Balance	`StockholdersEquity`	$-101.39K	USD	Point-in-time
Balance	`StockholdersEquity`	$9.06M	USD	Point-in-time
Shares issued in initial public offering	`StockIssuedDuringPeriodValueNewIssues1`	$17.25M	USD	Annual
Issuance costs of initial public offering	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$3.92M	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
Beneficial conversion feature - convertible promissory notes	`AdjustmentsToAdditionalPaidInCapitalConvertibleDebtBeneficialConversionFeature`	$674.07K	USD	Annual
Common stock issued for services	`CommonStockIssuableForServicesValue`	$50.00K	USD	Annual
Common stock issued for services	`CommonStockIssuableForServicesValue`	$151.66K	USD	Annual
Warrants issued for consulting services	`AdjustmentsToAdditionalPaidInCapitalWarrantIssuedInConnectionWithConsultingServices`	$37.15K	USD	Annual
Warrants issued for consulting services	`AdjustmentsToAdditionalPaidInCapitalWarrantIssuedInConnectionWithConsultingServices`	$130.18K	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
Exercise of options and warrants	`StockIssuedDuringPeriodValueStockOptionsExercised`	$4.97K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$458.98K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$944.10K	USD	Annual
Net loss for the year	`NetIncomeLoss`	$-9.55M	USD	Annual
Net loss for the year	`NetIncomeLoss`	$-6.90M	USD	Annual
Balance	`StockholdersEquity`	$14.83M	USD	Point-in-time
Balance	`StockholdersEquity`	$-101.39K	USD	Point-in-time
Balance	`StockholdersEquity`	$9.06M	USD	Point-in-time

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