10-Q Filing

Ideal Power Inc. CIK: 1507957 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001507957-17-000035`
Period End Date	20170630
Filing Date	20170811
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	ipwr-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 48 Cash Flow Statement 50

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`	$9.55M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.02M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.34M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$205.65K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$378.66K	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.25M	USD	Point-in-time
Preferred Stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories, net	`InventoryNet`	$366.54K	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$312.59K	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$252.53K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$14.16M	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
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	1.52M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$751.14K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$936.49K	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
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.10M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	-	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
Total Assets	`Assets`	$17.01M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	14.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.56M	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`	$212.98K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$346.77K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.18M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.39M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$265.42K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$489.94K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.76M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.88M	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 June 30, 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 June 30, 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 June 30, 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 June 30, 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`	$66.47M	USD	Point-in-time
Treasury stock, at cost; 1,683 shares at June 30, 2017 and December 31, 2016	`TreasuryStockValue`	$5.92K	USD	Point-in-time
Treasury stock, at cost; 1,683 shares at June 30, 2017 and December 31, 2016	`TreasuryStockValue`	$5.92K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-45.07M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-51.35M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$15.13M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$7.24M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$17.01M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$9.00M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`Revenues`	$322.12K	USD	1 Quarter
Product revenue	`Revenues`	$529.04K	USD	2 Qtrs
Product revenue	`Revenues`	$818.76K	USD	2 Qtrs
Product revenue	`Revenues`	$253.37K	USD	1 Quarter
Cost of product revenue	`CostOfRevenue`	$764.61K	USD	1 Quarter
Cost of product revenue	`CostOfRevenue`	$1.48M	USD	2 Qtrs
Cost of product revenue	`CostOfRevenue`	$793.69K	USD	2 Qtrs
Cost of product revenue	`CostOfRevenue`	$298.94K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$25.07K	USD	2 Qtrs
Gross profit (loss)	`GrossProfit`	$-946.50K	USD	2 Qtrs
Gross profit (loss)	`GrossProfit`	$-511.24K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$23.18K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.68M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.11M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.20M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.30M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$881.66K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.80M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$2.08M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.17M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$968.87K	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$427.34K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$824.96K	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$412.43K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.50M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.31M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$5.34M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$2.71M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.29M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-6.29M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-3.22M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.47M	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$7.03K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$6.62K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$15.22K	USD	2 Qtrs
Interest income, net	`InterestIncomeExpenseNet`	$11.57K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.47M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.21M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.27M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-6.28M	USD	2 Qtrs
Net loss per share basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.26	USD	1 Quarter
Net loss per share basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.50	USD	2 Qtrs
Net loss per share basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.55	USD	2 Qtrs
Net loss per share basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.23	USD	1 Quarter
Weighted average number of shares outstanding basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.55M	shares	2 Qtrs
Weighted average number of shares outstanding basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	12.44M	shares	2 Qtrs
Weighted average number of shares outstanding basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.55M	shares	1 Quarter
Weighted average number of shares outstanding basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.99M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.47M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.21M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.27M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-6.28M	USD	2 Qtrs
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$273.73K	USD	2 Qtrs
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$15.47K	USD	2 Qtrs
Write-down of inventory	`InventoryWriteDown`	$712.08K	USD	2 Qtrs
Write-down of inventory	`InventoryWriteDown`	$12.59K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$184.28K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$224.93K	USD	2 Qtrs
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	$48.77K	USD	2 Qtrs
Write-off of capitalized patents	`ImpairmentOfIntangibleAssetsFinitelived`	$202.34K	USD	2 Qtrs
Write-off of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-1.22K	USD	2 Qtrs
Write-off of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-15.04K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$498.01K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$763.33K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-446.26K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$100.72K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$627.65K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-166.53K	USD	2 Qtrs
Prepayments and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-60.43K	USD	2 Qtrs
Prepayments and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-77.98K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-234.49K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-133.78K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-5.63K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-405.76K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.35M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.01M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$18.15K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$297.10K	USD	2 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$203.50K	USD	2 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$171.13K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-500.60K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-189.28K	USD	2 Qtrs
Net proceeds from issuance of stock	`ProceedsFromIssuanceOfCommonStock`	$13.66M	USD	2 Qtrs
Net proceeds from issuance of stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Exercise of options and warrants	`ProceedsFromPaymentsForExerciseOfOptionsAndWarrants`	$11.14K	USD	2 Qtrs
Exercise of options and warrants	`ProceedsFromPaymentsForExerciseOfOptionsAndWarrants`	$35.54K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$13.67M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$35.54K	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.47M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$9.13M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.20M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.55M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.02M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.34M	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`	$9.55M	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`	$13.34M	USD	Point-in-time

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