10-K Filing

Ideal Power Inc. CIK: 1507957 FY 2016

Filing Information

Form Type	10-K
Accession Number	`0001507957-17-000011`
Period End Date	20161231
Filing Date	20170329
Fiscal Year	2016
Fiscal Period	FY
XBRL Instance	ipwr-20161231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 24 Cash Flow Statement 50 Stockholders Equity 20

Balance Sheet 54 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`	9.55M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.02M	USD	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
Accounts receivable, net	`AccountsReceivableNetCurrent`	$872.87K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$378.66K	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	9.56M	shares	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	9.55M	shares	Point-in-time
Inventories, net	`InventoryNet`	$1.25M	USD	Point-in-time
Inventories, net	`InventoryNet`	$648.01K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1,683.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1,000.00	shares	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$312.59K	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$296.36K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.84M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.14M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$936.49K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$925.90K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.91M	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`	$9.00M	USD	Point-in-time
Total assets	`Assets`	$19.25M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$346.77K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.34M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.24M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.58M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.50M	USD	Point-in-time
Long-term liabilities	`LiabilitiesNoncurrent`	-	USD	Point-in-time
Long-term liabilities	`LiabilitiesNoncurrent`	$265.42K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.58M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.76M	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; 9,560,896 shares issued and 9,559,213 shares outstanding at December 31, 2016, and 9,550,544 shares issued and 9,549,544 shares outstanding at December 31, 2015	`CommonStockValue`	$9.56K	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 9,560,896 shares issued and 9,559,213 shares outstanding at December 31, 2016, and 9,550,544 shares issued and 9,549,544 shares outstanding at December 31, 2015	`CommonStockValue`	$9.55K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$50.76M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$52.31M	USD	Point-in-time
Treasury stock, at cost, 1,683 and 1,000 shares at December 31, 2016 and 2015, respectively	`TreasuryStockValue`	$2.66K	USD	Point-in-time
Treasury stock, at cost, 1,683 and 1,000 shares at December 31, 2016 and 2015, respectively	`TreasuryStockValue`	$5.92K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-34.09M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-45.07M	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`	$9.06M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$9.00M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$19.25M	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`	$4.26M	USD	Annual
Cost of product revenue	`CostOfRevenue`	$1.94M	USD	Annual
Cost of product revenue	`CostOfRevenue`	$3.87M	USD	Annual
Gross profit (loss)	`GrossProfit`	$387.24K	USD	Annual
Gross profit (loss)	`GrossProfit`	$-310.97K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$5.22M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$5.52M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$3.69M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$3.74M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$1.64M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$1.74M	USD	Annual
Total operating expenses	`OperatingExpenses`	$10.86M	USD	Annual
Total operating expenses	`OperatingExpenses`	$10.71M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-11.02M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-10.47M	USD	Annual
Interest income	`InterestIncomeExpenseNet`	$31.47K	USD	Annual
Interest income	`InterestIncomeExpenseNet`	$36.05K	USD	Annual
Net loss	`NetIncomeLoss`	$-10.44M	USD	Annual
Net loss	`NetIncomeLoss`	$-10.98M	USD	Annual
Net loss per share - basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.15	USD	Annual
Net loss per share - basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.23	USD	Annual
Weighted average number of shares outstanding - basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.55M	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`	$-10.44M	USD	Annual
Net loss	`NetIncomeLoss`	$-10.98M	USD	Annual
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$85.38K	USD	Annual
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$97.34K	USD	Annual
Write-down of inventory	`InventoryWriteDown`	$72.82K	USD	Annual
Write-down of inventory	`InventoryWriteDown`	-	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$232.85K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$406.64K	USD	Annual
Write-off of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-53.85K	USD	Annual
Write-off of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-47.56K	USD	Annual
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	$116.97K	USD	Annual
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	$145.69K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.52M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.38M	USD	Annual
Fair value of warrants issued for services	`AdjustmentOfWarrantsGrantedForServices`	$84.90K	USD	Annual
Fair value of warrants issued for services	`AdjustmentOfWarrantsGrantedForServices`	-	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$523.70K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-408.84K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$679.99K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$412.70K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$16.24K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$32.75K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-992.06K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$897.19K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$466.97K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-85.02K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-8.05M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.10M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$791.61K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$391.09K	USD	Annual
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$630.14K	USD	Annual
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$359.90K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.42M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-750.99K	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$15.92M	USD	Annual
Exercise of options and warrants	`ProceedsFromPaymentsForExerciseOfOptionsAndWarrants`	$35.53K	USD	Annual
Exercise of options and warrants	`ProceedsFromPaymentsForExerciseOfOptionsAndWarrants`	$653.83K	USD	Annual
Payment of taxes related to restricted stock vesting	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$3.26K	USD	Annual
Payment of taxes related to restricted stock vesting	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$16.58M	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`	$7.11M	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`	$7.91M	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`	$7.91M	USD	Point-in-time

Stockholders Equity 20 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`	$9.06M	USD	Point-in-time
Shares issued in offering, net of issuance costs (in shares)	`StockIssuedDuringPeriodSharesNewIssues`	2.23M	shares	Annual
Shares issued in offering, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$15.92M	USD	Annual
Exercise of options and warrants (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	10,352.00	shares	Annual
Exercise of options and warrants (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	265,484.00	shares	Annual
Exercise of options and warrants	`StockIssuedDuringPeriodValueStockOptionsExercised`	$35.53K	USD	Annual
Exercise of options and warrants	`StockIssuedDuringPeriodValueStockOptionsExercised`	$653.83K	USD	Annual
Warrants issued for consulting services	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$84.90K	USD	Annual
Issuance of restricted stock (in shares)	`StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures`	10,000.00	shares	Annual
Issuance of restricted stock	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	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`	$1.38M	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`	$9.06M	USD	Point-in-time

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