10-K Filing

Ideal Power Inc. CIK: 1507957 FY 2015

Filing Information

Form Type	10-K
Accession Number	`0001144204-16-091533`
Period End Date	20151231
Filing Date	20160330
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	ipwr-20151231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 32 Cash Flow Statement 50 Stockholders Equity 18

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
Common Stock, Shares, Issued	`CommonStockSharesIssued`	7.05M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.91M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	9.55M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.02M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.14M	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`	9.55M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$872.87K	USD	Point-in-time
Inventories, net	`InventoryNet`	$648.01K	USD	Point-in-time
Inventories, net	`InventoryNet`	$251.34K	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$263.61K	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$296.36K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.87M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.84M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$374.38K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$925.90K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.47M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.01M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$17.92K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$17.92K	USD	Point-in-time
Total assets	`Assets`	$10.28M	USD	Point-in-time
Total assets	`Assets`	$19.25M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.34M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$441.64K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.24M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$773.12K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.58M	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; 9,549,544 and 7,048,235 shares issued and outstanding at December 31, 2015 and 2014, respectively	`CommonStockValue`	$9.55K	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 9,549,544 and 7,048,235 shares issued and outstanding at December 31, 2015 and 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`	$50.76M	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`	$-34.09M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-23.65M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$16.67M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$9.06M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$14.83M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$10.28M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$19.25M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$1.22M	USD	Annual
Products	`SalesRevenueGoodsNet`	$4.26M	USD	Annual
Grants	`RevenueFromGrants`	$579.08K	USD	Annual
Grants	`RevenueFromGrants`	-	USD	Annual
Total revenue	`Revenues`	$1.79M	USD	Annual
Total revenue	`Revenues`	$4.26M	USD	Annual
Products	`CostOfGoodsAndServicesSold`	$3.87M	USD	Annual
Products	`CostOfGoodsAndServicesSold`	$1.55M	USD	Annual
Grant research and development costs	`OtherResearchAndDevelopmentExpense`	-	USD	Annual
Grant research and development costs	`OtherResearchAndDevelopmentExpense`	$643.42K	USD	Annual
Total cost of revenue	`CostOfRevenue`	$2.19M	USD	Annual
Total cost of revenue	`CostOfRevenue`	$3.87M	USD	Annual
Gross profit (loss)	`GrossProfit`	$387.24K	USD	Annual
Gross profit (loss)	`GrossProfit`	$-395.00K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$5.52M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$2.34M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$3.69M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$2.99M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$1.20M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$1.64M	USD	Annual
Total operating expenses	`OperatingExpenses`	$6.53M	USD	Annual
Total operating expenses	`OperatingExpenses`	$10.86M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-10.47M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-6.93M	USD	Annual
Interest income	`InterestIncomeExpenseNet`	$31.47K	USD	Annual
Interest income	`InterestIncomeExpenseNet`	$27.71K	USD	Annual
Net loss	`NetIncomeLoss`	$-6.90M	USD	Annual
Net loss	`NetIncomeLoss`	$-10.44M	USD	Annual
Net loss per share - basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.23	USD	Annual
Net loss per share - basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.98	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`	8.50M	shares	Annual

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-6.90M	USD	Annual
Net loss	`NetIncomeLoss`	$-10.44M	USD	Annual
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$24.77K	USD	Annual
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$97.34K	USD	Annual
Write-down of inventory	`InventoryWriteDown`	-	USD	Annual
Write-down of inventory	`InventoryWriteDown`	$62.85K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$67.79K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$232.85K	USD	Annual
Write-off of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	Annual
Write-off of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-53.85K	USD	Annual
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	-	USD	Annual
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	$145.69K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$944.10K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.38M	USD	Annual
Fair value of warrants issued for services	`AdjustmentOfWarrantsGrantedForServices`	$130.18K	USD	Annual
Fair value of warrants issued for services	`AdjustmentOfWarrantsGrantedForServices`	$84.90K	USD	Annual
Common stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$50.00K	USD	Annual
Common stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$218.89K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$523.70K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-205.47K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$412.70K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$32.75K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$50.03K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-97.51K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$897.19K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$466.97K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$311.93K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-5.47M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-8.05M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$791.61K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$342.25K	USD	Annual
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$418.25K	USD	Annual
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$630.14K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.42M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-760.50K	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$15.92M	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Exercise of options and warrants	`ProceedsFromPaymentsForExerciseOfOptionsAndWarrants`	$4.97K	USD	Annual
Exercise of options and warrants	`ProceedsFromPaymentsForExerciseOfOptionsAndWarrants`	$653.83K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$4.97K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$16.58M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$7.11M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.23M	USD	Annual
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$7.91M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$15.02M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$14.14M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$7.91M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$15.02M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$14.14M	USD	Point-in-time

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$16.67M	USD	Point-in-time
Balance	`StockholdersEquity`	$9.06M	USD	Point-in-time
Balance	`StockholdersEquity`	$14.83M	USD	Point-in-time
Shares issued in offering, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$15.92M	USD	Annual
Shares issued in offering, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$58.00M	USD	Point-in-time
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$50.00K	USD	Annual
Warrants issued for consulting services	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$84.90K	USD	Annual
Warrants issued for consulting services	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$130.18K	USD	Annual
Exercise of options and warrants	`StockIssuedDuringPeriodValueStockOptionsExercised`	$4.97K	USD	Annual
Exercise of options and warrants	`StockIssuedDuringPeriodValueStockOptionsExercised`	$653.83K	USD	Annual
Issuance of restricted stock	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.38M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$944.10K	USD	Annual
Net loss for the year	`NetIncomeLoss`	$-6.90M	USD	Annual
Net loss for the year	`NetIncomeLoss`	$-10.44M	USD	Annual
Balance	`StockholdersEquity`	$16.67M	USD	Point-in-time
Balance	`StockholdersEquity`	$9.06M	USD	Point-in-time
Balance	`StockholdersEquity`	$14.83M	USD	Point-in-time

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