10-Q Filing

Ideal Power Inc. CIK: 1507957 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001144204-18-028867`
Period End Date	20180331
Filing Date	20180515
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	ipwr-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 24 Cash Flow Statement 48

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.35M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.02M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.15M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$221.08K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$152.72K	USD	Point-in-time
Inventories, net	`InventoryNet`	$251.36K	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories, net	`InventoryNet`	$227.00K	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
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$251.15K	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$10.78M	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	1.52M	shares	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	1.52M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$8.78M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$669.57K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$573.03K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	1.52M	shares	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	1.52M	shares	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.08M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.09M	USD	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
Other assets	`OtherAssetsNoncurrent`	$37.50K	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
Other assets	`OtherAssetsNoncurrent`	$37.50K	USD	Point-in-time
Total assets	`Assets`	$13.57M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	14.00M	shares	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	14.00M	shares	Point-in-time
Total assets	`Assets`	$11.48M	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	14.00M	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`	2,344.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$449.48K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$299.73K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.08M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.01M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.31M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.53M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$456.23K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$459.22K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.77M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.99M	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 March 31, 2018 and December 31, 2017, respectively	`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 March 31, 2018 and December 31, 2017, respectively	`PreferredStockValue`	$1.52K	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 March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$14.00K	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 March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$14.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$67.08M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$67.27M	USD	Point-in-time
Treasury stock, at cost, 2,344 shares at March 31, 2018 and December 31, 2017, respectively	`TreasuryStockValue`	$7.49K	USD	Point-in-time
Treasury stock, at cost, 2,344 shares at March 31, 2018 and December 31, 2017, respectively	`TreasuryStockValue`	$7.49K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-57.57M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-55.51M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$11.58M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$9.72M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$13.57M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$11.48M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`Revenues`	$275.67K	USD	1 Quarter
Product revenue	`Revenues`	$181.50K	USD	1 Quarter
Cost of product revenue	`CostOfRevenue`	$334.96K	USD	1 Quarter
Cost of product revenue	`CostOfRevenue`	$710.93K	USD	1 Quarter
Gross loss	`GrossProfit`	$-153.46K	USD	1 Quarter
Gross loss	`GrossProfit`	$-435.26K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.19M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$757.78K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$905.96K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$891.99K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$254.24K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$541.53K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.64M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.90M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.06M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.07M	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$4.54K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$1.31K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.06M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.07M	USD	1 Quarter
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.28	USD	1 Quarter
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.15	USD	1 Quarter
Weighted average number of shares outstanding - basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.88M	shares	1 Quarter
Weighted average number of shares outstanding - basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.99M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.06M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.07M	USD	1 Quarter
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$60.70K	USD	1 Quarter
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$18.23K	USD	1 Quarter
Write-down of inventory	`InventoryWriteDown`	$-883.00	USD	1 Quarter
Write-down of inventory	`InventoryWriteDown`	$348.79K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$113.81K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$113.07K	USD	1 Quarter
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	$559.00	USD	1 Quarter
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	$10.87K	USD	1 Quarter
Write-off of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-7.06K	USD	1 Quarter
Write-off of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-10.53K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$384.33K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$192.03K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-50.13K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$247.51K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-25.24K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-44.49K	USD	1 Quarter
Prepayments and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-32.06K	USD	1 Quarter
Prepayments and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-7.78K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$16.57K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-149.75K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-116.65K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-70.02K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.45M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.83M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.38K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$72.38K	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$41.61K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-41.61K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-76.75K	USD	1 Quarter
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$13.66M	USD	1 Quarter
Exercise of options and warrants	`ProceedsFromPaymentsForExerciseOfOptionsAndWarrants`	-	USD	1 Quarter
Exercise of options and warrants	`ProceedsFromPaymentsForExerciseOfOptionsAndWarrants`	$11.14K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$13.67M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.87M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$11.15M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.35M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.02M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.20M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.15M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.35M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.02M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.15M	USD	Point-in-time

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