10-Q Filing

Ideal Power Inc. CIK: 1507957 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0001144204-18-060043`
Period End Date	20180930
Filing Date	20181115
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	ipwr-20180930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 48 Cash Flow Statement 52

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
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`	$11.68M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.54M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$221.08K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$279.30K	USD	Point-in-time
Inventories, net	`InventoryNet`	$131.76K	USD	Point-in-time
Preferred Stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories, net	`InventoryNet`	$251.36K	USD	Point-in-time
Preferred Stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$83.38K	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$283.21K	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	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`	$10.78M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.03M	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	1.52M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$669.57K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	1.52M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$458.86K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.08M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.11M	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
Other assets	`OtherAssetsNoncurrent`	$55.42K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$37.50K	USD	Point-in-time
Total Assets	`Assets`	$13.57M	USD	Point-in-time
Total Assets	`Assets`	$8.66M	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
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`	4,709.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	2,344.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$737.08K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$449.48K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.08M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.07M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.53M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.81M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$456.23K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$465.18K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.99M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.27M	USD	Point-in-time
Commitments and contingencies (see Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (see Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 10,000,000 shares authorized; 1,518,430 shares issued and outstanding at September 30, 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 September 30, 2018 and December 31, 2017, respectively	`PreferredStockValue`	$1.52K	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 14,004,465 shares issued and 13,999,756 shares outstanding at September 30, 2018 and 13,998,465 shares issued and 13,996,121 shares outstanding at December 31, 2017, respectively	`CommonStockValue`	$14.00K	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 14,004,465 shares issued and 13,999,756 shares outstanding at September 30, 2018 and 13,998,465 shares issued and 13,996,121 shares outstanding at December 31, 2017, respectively	`CommonStockValue`	$14.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$67.92M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$67.08M	USD	Point-in-time
Treasury stock, at cost; 4,709 shares at September 30, 2018 and 2,344 shares at December 31, 2017	`TreasuryStockValue`	$10.11K	USD	Point-in-time
Treasury stock, at cost; 4,709 shares at September 30, 2018 and 2,344 shares at December 31, 2017	`TreasuryStockValue`	$7.49K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-55.51M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-61.54M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$6.39M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$11.58M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$8.66M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$13.57M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`Revenues`	$444.64K	USD	1 Quarter
Product revenue	`Revenues`	$342.66K	USD	1 Quarter
Product revenue	`Revenues`	$1.14M	USD	3 Qtrs
Product revenue	`Revenues`	$973.68K	USD	3 Qtrs
Cost of product revenue	`CostOfRevenue`	$552.13K	USD	1 Quarter
Cost of product revenue	`CostOfRevenue`	$1.47M	USD	3 Qtrs
Cost of product revenue	`CostOfRevenue`	$418.53K	USD	1 Quarter
Cost of product revenue	`CostOfRevenue`	$1.89M	USD	3 Qtrs
Gross profit (loss)	`GrossProfit`	$-920.39K	USD	3 Qtrs
Gross profit (loss)	`GrossProfit`	$26.11K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$-327.79K	USD	3 Qtrs
Gross profit (loss)	`GrossProfit`	$-209.47K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.52M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$3.37M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.08M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$854.36K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$899.88K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.63M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$2.98M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$921.28K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$271.84K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$588.94K	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$264.70K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$1.24M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$7.59M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$2.25M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.74M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$2.04M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.07M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-8.51M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.25M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.22M	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$3.87K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$36.82K	USD	3 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNet`	$-112.00	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$15.44K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-8.50M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.25M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.03M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.22M	USD	1 Quarter
Net loss per share basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.16	USD	1 Quarter
Net loss per share basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.16	USD	1 Quarter
Net loss per share basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.43	USD	3 Qtrs
Net loss per share basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.66	USD	3 Qtrs
Weighted average number of shares outstanding basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.99M	shares	3 Qtrs
Weighted average number of shares outstanding basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.99M	shares	1 Quarter
Weighted average number of shares outstanding basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	12.96M	shares	3 Qtrs
Weighted average number of shares outstanding basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	14.00M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-8.50M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.25M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.03M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.22M	USD	1 Quarter
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$226.56K	USD	3 Qtrs
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-98.68K	USD	3 Qtrs
Write-down of inventory	`InventoryWriteDown`	$703.22K	USD	3 Qtrs
Write-down of inventory	`InventoryWriteDown`	$67.52K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$297.01K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$339.49K	USD	3 Qtrs
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	$268.79K	USD	3 Qtrs
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	$15.48K	USD	3 Qtrs
Write-off of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-7.13K	USD	3 Qtrs
Write-off of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-53.45K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$837.81K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$833.64K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$234.98K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-40.46K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-52.08K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-214.47K	USD	3 Qtrs
Prepayments and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-159.37K	USD	3 Qtrs
Prepayments and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-181.91K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$287.61K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-59.65K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-3.79K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$67.72K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.92M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.34M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$44.82K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.61K	USD	3 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$220.87K	USD	3 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$117.25K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-136.87K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-265.68K	USD	3 Qtrs
Net proceeds from issuance of stock	`ProceedsFromIssuanceOfCommonStock`	$13.66M	USD	3 Qtrs
Net proceeds from issuance of stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Payment of taxes related to stock award vesting	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$2.62K	USD	3 Qtrs
Payment of taxes related to stock award vesting	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.57K	USD	3 Qtrs
Exercise of options and warrants	`ProceedsFromPaymentsForExerciseOfOptionsAndWarrants`	$11.14K	USD	3 Qtrs
Exercise of options and warrants	`ProceedsFromPaymentsForExerciseOfOptionsAndWarrants`	-	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.62K	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$13.67M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$7.48M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.48M	USD	3 Qtrs
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`	$11.68M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.54M	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`	$11.68M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.54M	USD	Point-in-time

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