10-Q Filing

Ideal Power Inc. CIK: 1507957 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001507957-17-000045`
Period End Date	20170930
Filing Date	20171109
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	ipwr-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 48 Cash Flow Statement 52

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.81M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.02M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.20M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	1.52M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.68M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$387.08K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$378.66K	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	1.52M	shares	Point-in-time
Inventories, net	`InventoryNet`	$327.46K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.25M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$171.15K	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$312.59K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.14M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	9.56M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	14.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$12.57M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	14.00M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	9.56M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$647.66K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$936.49K	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	2,344.00	shares	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.91M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.06M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	1,683.00	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	-	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`	$15.27M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$346.77K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$287.11K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.25M	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`	$1.54M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$493.09K	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`	$2.03M	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, 2017	`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, 2017	`PreferredStockValue`	-	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 September 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 13,996,121 shares outstanding at September 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`	$66.81M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$52.31M	USD	Point-in-time
Treasury stock, at cost; 2,344 shares at September 30, 2017 and 1,683 shares at December 31, 2016, respectively	`TreasuryStockValue`	$7.49K	USD	Point-in-time
Treasury stock, at cost; 2,344 shares at September 30, 2017 and 1,683 shares at December 31, 2016, respectively	`TreasuryStockValue`	$5.92K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-45.07M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-53.57M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$13.24M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$7.24M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$15.27M	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`	$439.27K	USD	1 Quarter
Product revenue	`Revenues`	$973.68K	USD	3 Qtrs
Product revenue	`Revenues`	$1.26M	USD	3 Qtrs
Product revenue	`Revenues`	$444.64K	USD	1 Quarter
Cost of product revenue	`CostOfRevenue`	$1.53M	USD	3 Qtrs
Cost of product revenue	`CostOfRevenue`	$1.89M	USD	3 Qtrs
Cost of product revenue	`CostOfRevenue`	$737.94K	USD	1 Quarter
Cost of product revenue	`CostOfRevenue`	$418.53K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$-920.39K	USD	3 Qtrs
Gross profit (loss)	`GrossProfit`	$26.11K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$-273.60K	USD	3 Qtrs
Gross profit (loss)	`GrossProfit`	$-298.67K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.23M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.37M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$3.91M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.08M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$907.34K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.71M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$899.88K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.98M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$1.24M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$1.32M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$496.79K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$271.84K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.25M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$7.95M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$7.59M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$2.64M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.22M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.93M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-8.51M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-8.22M	USD	3 Qtrs
Interest income, net	`InterestIncomeExpenseNet`	$15.44K	USD	3 Qtrs
Interest income, net	`InterestIncomeExpenseNet`	$26.78K	USD	3 Qtrs
Interest income, net	`InterestIncomeExpenseNet`	$11.55K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$3.87K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.19M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.92M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.22M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.50M	USD	3 Qtrs
Net loss per share basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.16	USD	1 Quarter
Net loss per share basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.86	USD	3 Qtrs
Net loss per share basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.66	USD	3 Qtrs
Net loss per share basic and fully diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.31	USD	1 Quarter
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`	9.55M	shares	3 Qtrs
Weighted average number of shares outstanding basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	12.96M	shares	3 Qtrs
Weighted average number of shares outstanding basic and fully diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.99M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-8.19M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.92M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.22M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.50M	USD	3 Qtrs
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$226.56K	USD	3 Qtrs
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$85.38K	USD	3 Qtrs
Write-down of inventory	`InventoryWriteDown`	$703.22K	USD	3 Qtrs
Write-down of inventory	`InventoryWriteDown`	$73.52K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$290.47K	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`	$71.11K	USD	3 Qtrs
Write-off of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-53.45K	USD	3 Qtrs
Write-off of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-6.21K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.14M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$833.64K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$234.98K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-337.48K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-214.47K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$689.85K	USD	3 Qtrs
Prepayments and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-147.06K	USD	3 Qtrs
Prepayments and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-159.37K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-729.43K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-59.65K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$67.72K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-151.18K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.92M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.62M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$44.82K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$328.93K	USD	3 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$299.14K	USD	3 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$220.87K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-628.07K	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
Exercise of options and warrants	`ProceedsFromPaymentsForExerciseOfOptionsAndWarrants`	$35.54K	USD	3 Qtrs
Exercise of options and warrants	`ProceedsFromPaymentsForExerciseOfOptionsAndWarrants`	$11.14K	USD	3 Qtrs
Payment of taxes related to restricted stock vesting	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.57K	USD	3 Qtrs
Payment of taxes related to restricted stock vesting	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$35.54K	USD	3 Qtrs
Net cash provided by 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`	$-8.21M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.81M	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`	$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 end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.81M	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`	$4.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.68M	USD	Point-in-time

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