10-Q Filing

Ideal Power Inc. CIK: 1507957 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001507957-17-000026`
Period End Date	20170331
Filing Date	20170512
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	ipwr-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 24 Cash Flow Statement 48

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.02M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.28M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.35M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.20M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$378.66K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$565.47K	USD	Point-in-time
Preferred Stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.25M	USD	Point-in-time
Inventories, net	`InventoryNet`	$851.86K	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$312.59K	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$304.81K	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$17.07M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.14M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	1.52M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$936.49K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$835.14K	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
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.91M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.96M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$17.92K	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 authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.56M	shares	Point-in-time
Total Assets	`Assets`	$19.89M	USD	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 outstanding	`CommonStockSharesOutstanding`	14.00M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.56M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1,683.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1,683.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$346.77K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$363.33K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.15M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.03M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.39M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.50M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$266.94K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$265.42K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.76M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.66M	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments	`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, 2017	`PreferredStockValue`	-	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, 2017	`PreferredStockValue`	$1.52K	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 13,998,465 shares issued and 13,996,782 shares outstanding at March 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 13,996,782 shares outstanding at March 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`	$66.36M	USD	Point-in-time
Treasury stock, at cost, 1,683 shares at March 31, 2017 and December 31, 2016, respectively	`TreasuryStockValue`	$5.92K	USD	Point-in-time
Treasury stock, at cost, 1,683 shares at March 31, 2017 and December 31, 2016, respectively	`TreasuryStockValue`	$5.92K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-45.07M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-48.14M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$7.24M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$18.22M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$9.00M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$19.89M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`Revenues`	$496.64K	USD	1 Quarter
Product revenue	`Revenues`	$275.67K	USD	1 Quarter
Cost of product revenue	`CostOfRevenue`	$710.93K	USD	1 Quarter
Cost of product revenue	`CostOfRevenue`	$494.75K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$1.89K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$-435.26K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.19M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.48M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$905.96K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$920.33K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$412.53K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$541.53K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.81M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.64M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.81M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.07M	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$8.61K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$4.54K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.80M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.07M	USD	1 Quarter
Net loss per share - basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.29	USD	1 Quarter
Net loss per share - basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.28	USD	1 Quarter
Weighted average number of shares outstanding - basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.88M	shares	1 Quarter
Weighted average number of shares outstanding - basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.55M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.80M	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`	-	USD	1 Quarter
Write-down of inventory	`InventoryWriteDown`	$348.79K	USD	1 Quarter
Write-down of inventory	`InventoryWriteDown`	$4.24K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$87.00K	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`	$24.75K	USD	1 Quarter
Write-off of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-992.00	USD	1 Quarter
Write-off of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-10.53K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$383.52K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$384.33K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-425.10K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$247.51K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-44.49K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$76.80K	USD	1 Quarter
Prepayments and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-5.59K	USD	1 Quarter
Prepayments and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-7.78K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$16.57K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-574.77K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-53.14K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-116.65K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.58M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.45M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.38K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$100.38K	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$72.38K	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$103.11K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-203.49K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-76.75K	USD	1 Quarter
Net proceeds from issuance of stock	`ProceedsFromIssuanceOfCommonStock`	$13.66M	USD	1 Quarter
Net proceeds from issuance of stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Exercise of options and warrants	`ProceedsFromPaymentsForExerciseOfOptionsAndWarrants`	$35.54K	USD	1 Quarter
Exercise of options and warrants	`ProceedsFromPaymentsForExerciseOfOptionsAndWarrants`	$11.14K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$35.54K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$13.67M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.74M	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`	$15.02M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.28M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.35M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.02M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.28M	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`	$4.20M	USD	Point-in-time

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