10-K Filing

Ideal Power Inc. CIK: 1507957 FY 2017

Filing Information

Form Type	10-K
Accession Number	`0001144204-18-018361`
Period End Date	20171231
Filing Date	20180402
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	ipwr-20171231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 24 Cash Flow Statement 48 Stockholders Equity 16

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.02M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.02M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$378.66K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$221.08K	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories, net	`InventoryNet`	$251.36K	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.25M	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$312.59K	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$283.21K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.14M	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	1.52M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$10.78M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$669.57K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$936.49K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	1.52M	shares	Point-in-time
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
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.91M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.08M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$37.50K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$17.92K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	14.00M	shares	Point-in-time
Total assets	`Assets`	$9.00M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	9.56M	shares	Point-in-time
Total assets	`Assets`	$13.57M	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	9.56M	shares	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	14.00M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	2,344.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1,683.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$449.48K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$346.77K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.08M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.53M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.50M	USD	Point-in-time
Long-term liabilities	`LiabilitiesNoncurrent`	$456.23K	USD	Point-in-time
Long-term liabilities	`LiabilitiesNoncurrent`	$265.42K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.99M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.76M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 10,000,000 shares authorized; 1,518,430 shares issued and outstanding at December 31, 2017	`PreferredStockValue`	$1.52K	USD	Point-in-time
Preferred stock, $0.001 par value; 10,000,000 shares authorized; 1,518,430 shares issued and outstanding at December 31, 2017	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 13,998,465 shares issued and 13,996,121 shares outstanding at December 31, 2017 and 9,560,896 shares issued and 9,559,213 shares outstanding at December 31, 2016, respectively	`CommonStockValue`	$9.56K	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 13,998,465 shares issued and 13,996,121 shares outstanding at December 31, 2017 and 9,560,896 shares issued and 9,559,213 shares outstanding at December 31, 2016, respectively	`CommonStockValue`	$14.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$52.31M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$67.08M	USD	Point-in-time
Treasury stock, at cost; 2,344 shares at December 31, 2017 and 1,683 shares at December 31, 2016, respectively	`TreasuryStockValue`	$7.49K	USD	Point-in-time
Treasury stock, at cost; 2,344 shares at December 31, 2017 and 1,683 shares at December 31, 2016, respectively	`TreasuryStockValue`	$5.92K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-45.07M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-55.51M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$16.67M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$7.24M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$11.58M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$9.00M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$13.57M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`Revenues`	$1.63M	USD	Annual
Product revenue	`Revenues`	$1.21M	USD	Annual
Cost of product revenue	`CostOfRevenue`	$2.24M	USD	Annual
Cost of product revenue	`CostOfRevenue`	$1.94M	USD	Annual
Gross loss	`GrossProfit`	$-1.03M	USD	Annual
Gross loss	`GrossProfit`	$-310.97K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$4.18M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$5.22M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$3.74M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$3.79M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$1.45M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$1.74M	USD	Annual
Total operating expenses	`OperatingExpenses`	$9.42M	USD	Annual
Total operating expenses	`OperatingExpenses`	$10.71M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-10.45M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-11.02M	USD	Annual
Interest income	`InterestIncomeExpenseNet`	$36.05K	USD	Annual
Interest income	`InterestIncomeExpenseNet`	$17.59K	USD	Annual
Net loss	`NetIncomeLoss`	$-10.44M	USD	Annual
Net loss	`NetIncomeLoss`	$-10.98M	USD	Annual
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.79	USD	Annual
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-1.15	USD	Annual
Weighted average number of shares outstanding - basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.55M	shares	Annual
Weighted average number of shares outstanding - basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.22M	shares	Annual

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-10.44M	USD	Annual
Net loss	`NetIncomeLoss`	$-10.98M	USD	Annual
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$192.69K	USD	Annual
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$85.38K	USD	Annual
Write-down of inventory	`InventoryWriteDown`	$72.82K	USD	Annual
Write-down of inventory	`InventoryWriteDown`	$760.78K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$451.55K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$406.64K	USD	Annual
Write-off of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-47.56K	USD	Annual
Write-off of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-54.26K	USD	Annual
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	$116.97K	USD	Annual
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	$279.98K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.11M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.52M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$35.12K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-408.84K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-233.00K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$679.99K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-9.80K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$16.24K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$102.71K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-992.06K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-85.02K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-138.46K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.42M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.10M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$391.09K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$155.61K	USD	Annual
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$278.42K	USD	Annual
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$359.90K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-750.99K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-434.03K	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$13.66M	USD	Annual
Exercise of options and warrants	`ProceedsFromPaymentsForExerciseOfOptionsAndWarrants`	$11.14K	USD	Annual
Exercise of options and warrants	`ProceedsFromPaymentsForExerciseOfOptionsAndWarrants`	$35.53K	USD	Annual
Payment of taxes related to restricted stock vesting	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.57K	USD	Annual
Payment of taxes related to restricted stock vesting	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$3.26K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$13.67M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$32.27K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-10.82M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.82M	USD	Annual
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$4.20M	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`	$10.02M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$4.20M	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`	$10.02M	USD	Point-in-time

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$16.67M	USD	Point-in-time
Balance	`StockholdersEquity`	$7.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$11.58M	USD	Point-in-time
Shares issued in offering, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$13.66M	USD	Annual
Exercise of options and warrants	`StockIssuedDuringPeriodValueStockOptionsExercised`	$35.53K	USD	Annual
Exercise of options and warrants	`StockIssuedDuringPeriodValueStockOptionsExercised`	$11.14K	USD	Annual
Common stock to preferred stock exchange	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	Annual
Common stock tendered to pay taxes on restricted stock vesting	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.57K	USD	Annual
Common stock tendered to pay taxes on restricted stock vesting	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$3.26K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.52M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.11M	USD	Annual
Net loss for the year	`NetIncomeLoss`	$-10.44M	USD	Annual
Net loss for the year	`NetIncomeLoss`	$-10.98M	USD	Annual
Balance	`StockholdersEquity`	$16.67M	USD	Point-in-time
Balance	`StockholdersEquity`	$7.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$11.58M	USD	Point-in-time

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