10-Q Filing

Ideal Power Inc. CIK: 1507957 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001144204-16-118763`
Period End Date	20160630
Filing Date	20160812
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	ipwr-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 53 Income Statement 48 Cash Flow Statement 54

Balance Sheet 53 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`	$9.55M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$19.97M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	9.55M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	9.56M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.02M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$411.14K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	9.55M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	9.56M	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`	$1.26M	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$296.36K	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$235.93K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.46M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.84M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.07M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$925.90K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.85M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.47M	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`	$14.40M	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`	$1.10M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$831.96K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.24M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.58M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.94M	USD	Point-in-time
Long-term liabilities	`LiabilitiesNoncurrent`	-	USD	Point-in-time
Long-term liabilities	`LiabilitiesNoncurrent`	$261.85K	USD	Point-in-time
Long-term liabilities	`LiabilitiesNoncurrent`	$259.48K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.58M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.20M	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; 9,557,747 and 9,549,544 shares issued and outstanding at June 30, 2016 and December 31, 2015, respectively	`CommonStockValue`	$9.55K	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 9,557,747 and 9,549,544 shares issued and outstanding at June 30, 2016 and December 31, 2015, respectively	`CommonStockValue`	$9.56K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$51.56M	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`	$-39.36M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-34.09M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$12.20M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$16.67M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$14.40M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$19.25M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`SalesRevenueGoodsNet`	$1.20M	USD	1 Quarter
Product revenue	`SalesRevenueGoodsNet`	$322.12K	USD	1 Quarter
Product revenue	`SalesRevenueGoodsNet`	$2.40M	USD	2 Qtrs
Product revenue	`SalesRevenueGoodsNet`	$818.76K	USD	2 Qtrs
Cost of product revenue	`CostOfRevenue`	$2.08M	USD	2 Qtrs
Cost of product revenue	`CostOfRevenue`	$1.06M	USD	1 Quarter
Cost of product revenue	`CostOfRevenue`	$298.94K	USD	1 Quarter
Cost of product revenue	`CostOfRevenue`	$793.69K	USD	2 Qtrs
Gross profit	`GrossProfit`	$142.90K	USD	1 Quarter
Gross profit	`GrossProfit`	$23.18K	USD	1 Quarter
Gross profit	`GrossProfit`	$25.07K	USD	2 Qtrs
Gross profit	`GrossProfit`	$321.39K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$2.09M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.20M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.68M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.10M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$881.66K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.88M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.80M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$968.36K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$412.43K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$824.96K	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$371.23K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$844.18K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$2.50M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.44M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.82M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$5.31M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.47M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.29M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-4.49M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.30M	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$6.62K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$15.22K	USD	2 Qtrs
Interest income, net	`InterestIncomeExpenseNet`	$4.65K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$9.12K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.47M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.49M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.29M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.27M	USD	2 Qtrs
Net loss per share - basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.55	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`	$-0.59	USD	2 Qtrs
Net loss per share - basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.26	USD	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`	9.55M	shares	1 Quarter
Weighted average number of shares outstanding - basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.55M	shares	2 Qtrs

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.47M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.49M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.29M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.27M	USD	2 Qtrs
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$54.79K	USD	2 Qtrs
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$15.47K	USD	2 Qtrs
Write-down of inventory	`InventoryWriteDown`	$12.59K	USD	2 Qtrs
Write-down of inventory	`InventoryWriteDown`	$-6.43K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$80.94K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$184.28K	USD	2 Qtrs
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	$103.29K	USD	2 Qtrs
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	$48.77K	USD	2 Qtrs
Write-off of capitalized software	`NoncashProjectAbandonmentCosts`	$45.64K	USD	2 Qtrs
Write-off of capitalized software	`NoncashProjectAbandonmentCosts`	-	USD	2 Qtrs
Write-off of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-1.22K	USD	2 Qtrs
Write-off of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$666.43K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$763.33K	USD	2 Qtrs
Fair value of warrants issued for services	`AdjustmentOfWarrantsGrantedForServices`	-	USD	2 Qtrs
Fair value of warrants issued for services	`AdjustmentOfWarrantsGrantedForServices`	$50.94K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-446.26K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$365.73K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$627.65K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$423.74K	USD	2 Qtrs
Prepayments and other current assets	`IncreaseDecreaseInPrepaidExpense`	$22.76K	USD	2 Qtrs
Prepayments and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-60.43K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$713.18K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-234.49K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$107.91K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-405.76K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-3.48M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-5.01M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$343.21K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$297.10K	USD	2 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$195.38K	USD	2 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$203.50K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-500.60K	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`	$35.54K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$35.54K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$16.07M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.47M	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`	$9.55M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$19.97M	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`	$15.02M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.55M	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`	$7.91M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.02M	USD	Point-in-time

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