10-Q Filing

Ideal Power Inc. CIK: 1507957 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001144204-15-048720`
Period End Date	20150630
Filing Date	20150813
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	ipwr-20150630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 64 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`	$19.97M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.15M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.91M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	9.35M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.14M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	7.05M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$757.46K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	9.35M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	7.05M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$446.52K	USD	Point-in-time
Inventories, net	`InventoryNet`	$251.34K	USD	Point-in-time
Inventories, net	`InventoryNet`	$665.48K	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$286.37K	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$263.61K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$21.68M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.87M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$616.99K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$374.38K	USD	Point-in-time
Patents, net	`FiniteLivedIntangibleAssetsNet`	$1.10M	USD	Point-in-time
Patents, net	`FiniteLivedIntangibleAssetsNet`	$1.01M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$17.92K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$17.92K	USD	Point-in-time
Total assets	`Assets`	$10.28M	USD	Point-in-time
Total assets	`Assets`	$23.41M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.15M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$441.64K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$881.03K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$773.12K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.04M	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; 9,345,263 and 7,048,235 shares issued and outstanding at June 30, 2015 and December 31, 2014, respectively	`CommonStockValue`	$9.35K	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 9,345,263 and 7,048,235 shares issued and outstanding at June 30, 2015 and December 31, 2014, respectively	`CommonStockValue`	$7.05K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$32.71M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$49.50M	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`	$-23.65M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-28.14M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$9.06M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$21.37M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$10.28M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$23.41M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$2.40M	USD	2 Qtrs
Products	`SalesRevenueGoodsNet`	$552.60K	USD	2 Qtrs
Products	`SalesRevenueGoodsNet`	$444.10K	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$1.20M	USD	1 Quarter
Grants	`RevenueFromGrants`	$299.02K	USD	2 Qtrs
Grants	`RevenueFromGrants`	-	USD	1 Quarter
Grants	`RevenueFromGrants`	$116.43K	USD	1 Quarter
Grants	`RevenueFromGrants`	-	USD	2 Qtrs
Total revenue	`Revenues`	$2.40M	USD	2 Qtrs
Total revenue	`Revenues`	$851.62K	USD	2 Qtrs
Total revenue	`Revenues`	$1.20M	USD	1 Quarter
Total revenue	`Revenues`	$560.53K	USD	1 Quarter
Products	`CostOfGoodsAndServicesSold`	$440.97K	USD	1 Quarter
Products	`CostOfGoodsAndServicesSold`	$2.08M	USD	2 Qtrs
Products	`CostOfGoodsAndServicesSold`	$1.06M	USD	1 Quarter
Products	`CostOfGoodsAndServicesSold`	$635.31K	USD	2 Qtrs
Grant research and development costs	`OtherResearchAndDevelopmentExpense`	-	USD	1 Quarter
Grant research and development costs	`OtherResearchAndDevelopmentExpense`	-	USD	2 Qtrs
Grant research and development costs	`OtherResearchAndDevelopmentExpense`	$129.36K	USD	1 Quarter
Grant research and development costs	`OtherResearchAndDevelopmentExpense`	$332.25K	USD	2 Qtrs
Total cost of revenue	`CostOfRevenue`	$570.33K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$967.56K	USD	2 Qtrs
Total cost of revenue	`CostOfRevenue`	$2.08M	USD	2 Qtrs
Total cost of revenue	`CostOfRevenue`	$1.06M	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$321.39K	USD	2 Qtrs
Gross profit (loss)	`GrossProfit`	$-9.81K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$142.90K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$-115.94K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.10M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$954.90K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$645.34K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.09M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$718.29K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.88M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.46M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$968.36K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$844.18K	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$371.23K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$261.53K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$529.75K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.63M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.82M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$2.44M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.95M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.63M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.06M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.30M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.49M	USD	2 Qtrs
Interest income	`InterestIncomeExpenseNet`	$4.65K	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$7.39K	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$15.53K	USD	2 Qtrs
Interest income	`InterestIncomeExpenseNet`	$9.12K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.29M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.49M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.63M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.05M	USD	2 Qtrs
Net loss per share - basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.59	USD	2 Qtrs
Net loss per share - basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.28	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`	$-0.44	USD	2 Qtrs
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`	7.58M	shares	2 Qtrs
Weighted average number of shares outstanding - basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	8.10M	shares	1 Quarter
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`	$-2.29M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.49M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.63M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.05M	USD	2 Qtrs
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	-	USD	2 Qtrs
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$54.79K	USD	2 Qtrs
Write-down of inventory	`InventoryWriteDown`	$-6.43K	USD	2 Qtrs
Write-down of inventory	`InventoryWriteDown`	$14.08K	USD	Annual
Write-down of inventory	`InventoryWriteDown`	-	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$19.71K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$80.94K	USD	2 Qtrs
Write-off of capitalized software	`NoncashProjectAbandonmentCosts`	-	USD	2 Qtrs
Write-off of capitalized software	`NoncashProjectAbandonmentCosts`	$45.64K	USD	2 Qtrs
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	$103.29K	USD	2 Qtrs
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	-	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$666.43K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$379.28K	USD	2 Qtrs
Fair value of warrants issued for services	`AdjustmentOfWarrantsGrantedForServices`	$50.94K	USD	2 Qtrs
Fair value of warrants issued for services	`AdjustmentOfWarrantsGrantedForServices`	$67.92K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$152.60K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$365.73K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$423.74K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-272.72K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-22.73K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$22.76K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-195.65K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$713.18K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$130.20K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$107.91K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.50M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-3.48M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$233.97K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$343.21K	USD	2 Qtrs
Acquisition of patents	`PaymentsToAcquireIntangibleAssets`	$195.38K	USD	2 Qtrs
Acquisition of patents	`PaymentsToAcquireIntangibleAssets`	$254.81K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-488.78K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-538.59K	USD	2 Qtrs
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$15.92M	USD	2 Qtrs
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Exercise of options and warrants	`ProceedsFromPaymentsForExerciseOfOptionsAndWarrants`	$148.89K	USD	2 Qtrs
Exercise of options and warrants	`ProceedsFromPaymentsForExerciseOfOptionsAndWarrants`	$4.99K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$4.99K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$16.07M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.99M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$12.05M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$19.97M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.15M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.91M	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`	$19.97M	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`	$7.91M	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.