2018 Q4 Form 10-Q Financial Statement
#000155198618000049 Filed on November 13, 2018
Income Statement
Concept | 2018 Q4 | 2018 Q3 | 2017 Q3 |
---|
Balance Sheet
Concept | 2018 Q4 | 2018 Q3 | 2017 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $5.730M | $8.110M | $170.0K |
YoY Change | 1232.56% | 4670.59% | -94.28% |
Cash & Equivalents | $5.729M | $8.112M | $1.479M |
Short-Term Investments | |||
Other Short-Term Assets | $680.0K | $530.0K | $260.0K |
YoY Change | 1260.0% | 103.85% | -40.91% |
Inventory | $500.0K | ||
Prepaid Expenses | |||
Receivables | $130.0K | ||
Other Receivables | $0.00 | ||
Total Short-Term Assets | $6.414M | $8.637M | $1.060M |
YoY Change | 752.63% | 714.84% | -82.7% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $35.10K | $40.23K | |
YoY Change | -13.79% | ||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $5.580K | $5.580K | $10.00K |
YoY Change | 0.0% | -44.2% | 0.0% |
Total Long-Term Assets | $40.68K | $45.81K | $2.330M |
YoY Change | -12.12% | -98.03% | -5.44% |
TOTAL ASSETS | |||
Total Short-Term Assets | $6.414M | $8.637M | $1.060M |
Total Long-Term Assets | $40.68K | $45.81K | $2.330M |
Total Assets | $6.454M | $8.683M | $3.390M |
YoY Change | 708.3% | 156.14% | -60.54% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $3.619M | $2.883M | $620.0K |
YoY Change | 36.11% | 364.98% | 59.79% |
Accrued Expenses | $826.3K | $229.4K | $1.510M |
YoY Change | -29.99% | -84.81% | -53.89% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $5.200M | $5.190M | $1.380M |
YoY Change | 282.35% | 276.09% | 3350.0% |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $10.11M | $8.302M | $4.880M |
YoY Change | -22.04% | 70.13% | -11.93% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $10.11M | $8.302M | $4.880M |
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
Total Liabilities | $10.11M | $8.300M | $4.880M |
YoY Change | 281.63% | 70.08% | -11.91% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$43.52M | -$39.30M | |
YoY Change | 124.85% | ||
Common Stock | $2.609K | $2.598K | |
YoY Change | -78.05% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$3.659M | $380.8K | -$1.490M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $6.454M | $8.683M | $3.390M |
YoY Change | 708.3% | 156.14% | -60.54% |
Cashflow Statement
Concept | 2018 Q4 | 2018 Q3 | 2017 Q3 |
---|
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q3 | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2018 | ||
dei |
Document Period End Date
DocumentPeriodEndDate
|
2018-09-30 | ||
dei |
Document Type
DocumentType
|
10-Q | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
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0001551986 | ||
CY2018Q4 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
26071244 | shares |
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Entity Emerging Growth Company
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Entity Ex Transition Period
EntityExTransitionPeriod
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Entity Filer Category
EntityFilerCategory
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Non-accelerated Filer | ||
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Entity Small Business
EntitySmallBusiness
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Trading Symbol
TradingSymbol
|
INNT | ||
innt |
Accrued Interest On Note Payable
AccruedInterestOnNotePayable
|
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Accrued Interest On Note Payable
AccruedInterestOnNotePayable
|
150000 | USD | |
innt |
Adjustments To Additional Paid In Capital Warrant Issued To Placement Agents
AdjustmentsToAdditionalPaidInCapitalWarrantIssuedToPlacementAgents
|
913000 | USD | |
innt |
Adjustments To Additional Paid In Capital Warrant Issued To Placement Agents
AdjustmentsToAdditionalPaidInCapitalWarrantIssuedToPlacementAgents
|
913000 | USD | |
innt |
Proceeds From Shortterm Convertible Debt
ProceedsFromShorttermConvertibleDebt
|
4284999 | USD | |
innt |
Proceeds From Shortterm Convertible Debt
ProceedsFromShorttermConvertibleDebt
|
345000 | USD | |
innt |
Convertible Promissory Notesbeneficial Conversion Feature
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|
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CY2018Q3 | innt |
Capital Stock Authorized
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Convertible Promissory Notesbeneficial Conversion Feature
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innt |
Receivable For Warrants Exercised
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0 | USD | |
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Receivable For Warrants Exercised
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dei |
Entity Registrant Name
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|
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innt |
Repayments Of Shortterm Convertible Debt
RepaymentsOfShorttermConvertibleDebt
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Repayments Of Shortterm Convertible Debt
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Exchange Ratio In Connection With Merger
ExchangeRatioInConnectionWithMerger
|
0.37686604 | |
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Placement Agent Fees
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Proceeds From Rececived Of Payment Of Stock Subscription Receivable
ProceedsFromRececivedOfPaymentOfStockSubscriptionReceivable
|
25 | USD | |
innt |
Proceeds From Rececived Of Payment Of Stock Subscription Receivable
ProceedsFromRececivedOfPaymentOfStockSubscriptionReceivable
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0 | USD | |
CY2016 | innt |
Milestone Fee Free Sales Target Value
MilestoneFeeFreeSalesTargetValue
|
1500000000 | USD |
innt |
Net Proceeds From Issuance Of Common Stock After Deducting Stock Issuance Costs
NetProceedsFromIssuanceOfCommonStockAfterDeductingStockIssuanceCosts
|
16500000 | USD | |
innt |
Number Of Warrants Issued
NumberOfWarrantsIssued
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1400000 | shares | |
CY2017Q4 | innt |
Operating Lease Annual Rental Payments
OperatingLeaseAnnualRentalPayments
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60000 | USD |
CY2017Q4 | innt |
Operating Lease Monthly Rental Payments
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innt |
Payment Of Deferred Debt Issuance Cost
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Payment Of Deferred Debt Issuance Cost
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CY2017 | innt |
Payment Of Stock Subscription Receivable
PaymentOfStockSubscriptionReceivable
|
25 | USD |
CY2018Q1 | innt |
Payments To Executives
PaymentsToExecutives
|
1100000 | USD |
innt |
Payments To Executives
PaymentsToExecutives
|
145000 | USD | |
innt |
Royalties Payment Expiration Requirement
RoyaltiesPaymentExpirationRequirement
|
P10Y | ||
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Stock Issued During Period Value Stock Splits
StockIssuedDuringPeriodValueStockSplits
|
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innt |
Warrant Term
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P5Y | ||
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Warrants Issued To Placement Agents
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Warrants Issued To Placement Agents
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Accounts Payable Current
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Accrued Liabilities Current
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Accrued Liabilities Current
AccruedLiabilitiesCurrent
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229401 | USD |
CY2017Q4 | us-gaap |
Accrued Professional Fees Current
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Additional Paid In Capital
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Additional Paid In Capital
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Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
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us-gaap |
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us-gaap |
Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
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CY2017Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
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Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
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us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
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2060000 | USD | |
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
2100000 | USD | |
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Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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Assets
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CY2018Q3 | us-gaap |
Assets
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Assets Current
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Cash And Cash Equivalents At Carrying Value
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Common Stock Shares Outstanding
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Cash And Cash Equivalents Period Increase Decrease
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Common Stock Par Or Stated Value Per Share
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Common Stock Shares Issued
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Common Stock Shares Issued
CommonStockSharesIssued
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Common Stock Value
CommonStockValue
|
11888 | USD |
CY2018Q3 | us-gaap |
Common Stock Value
CommonStockValue
|
2598 | USD |
CY2017Q4 | us-gaap |
Convertible Notes Payable Current
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|
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Convertible Notes Payable Current
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|
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Deferred Offering Costs
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Depreciation
Depreciation
|
2522 | USD | |
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Depreciation
Depreciation
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|
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Due From Related Parties Current
DueFromRelatedPartiesCurrent
|
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CY2017Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.08 | |
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.29 | ||
CY2018Q3 | us-gaap |
Earnings Per Share Basic And Diluted
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|
-0.03 | |
us-gaap |
Earnings Per Share Basic And Diluted
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|
-0.87 | ||
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Employee Related Liabilities Current
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Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
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CY2017Q3 | us-gaap |
General And Administrative Expense
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|
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General And Administrative Expense
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General And Administrative Expense
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us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
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Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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Income Tax Expense Benefit
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us-gaap |
Income Tax Expense Benefit
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|
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Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD |
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Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
1067247 | USD | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
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us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
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us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
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40443 | USD | |
us-gaap |
Increase Decrease In Prepaid Expense
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Interest Expense
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us-gaap |
Interest Expense
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CY2018Q3 | us-gaap |
Interest Expense
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Interest Expense
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|
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Interest Expense Debt
InterestExpenseDebt
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252464 | USD | |
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Interest Expense Debt
InterestExpenseDebt
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Interest Paid Net
InterestPaidNet
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Interest Paid Net
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Interest Payable Current
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Interest Payable Current
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CY2017Q3 | us-gaap |
Investment Income Interest
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Investment Income Interest
InvestmentIncomeInterest
|
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Investment Income Interest
InvestmentIncomeInterest
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us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
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us-gaap |
Lease Expiration Date1
LeaseExpirationDate1
|
2020-09-30 | ||
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Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
|
P2Y | |
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Lessee Operating Lease Term Of Contract
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|
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Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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Liabilities Assumed1
LiabilitiesAssumed1
|
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Liabilities Assumed1
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CY2017Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
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CY2018Q3 | us-gaap |
Liabilities Current
LiabilitiesCurrent
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us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
4285024 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
20455760 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1600 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
61057 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
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us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
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CY2017Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2451315 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
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CY2017 | us-gaap |
Net Income Loss
NetIncomeLoss
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CY2018Q3 | us-gaap |
Net Income Loss
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Net Income Loss
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Nonoperating Income Expense
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Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2018Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2017Q4 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
0 | USD |
CY2018Q3 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
5190000 | USD |
CY2017Q4 | us-gaap |
Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
|
244816 | USD |
CY2018Q3 | us-gaap |
Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
|
0 | USD |
CY2017Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
2340807 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
8947875 | USD | |
CY2018Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
-219653 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
15681035 | USD | |
CY2017Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
2340807 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
8947875 | USD | |
CY2018Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-219653 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
15681035 | USD | |
CY2017Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
115000 | USD |
CY2018Q3 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
91401 | USD |
CY2017Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
5580 | USD |
CY2018Q3 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
5580 | USD |
CY2018Q3 | us-gaap |
Payment For Management Fee
PaymentForManagementFee
|
1100000 | USD |
us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
0 | USD | |
us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
20000 | USD | |
us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
0 | USD | |
us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
1495284 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1600 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
13943 | USD | |
CY2018Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2017Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
161844 | USD |
CY2018Q3 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
525582 | USD |
us-gaap |
Proceeds From Collection Of Longterm Loans To Related Parties
ProceedsFromCollectionOfLongtermLoansToRelatedParties
|
0 | USD | |
us-gaap |
Proceeds From Collection Of Longterm Loans To Related Parties
ProceedsFromCollectionOfLongtermLoansToRelatedParties
|
75000 | USD | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
0 | USD | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
18100000 | USD | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
18132661 | USD | |
us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
0 | USD | |
us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
3000000 | USD | |
us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
0 | USD | |
us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
928178 | USD | |
CY2017Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
40707 | USD |
CY2018Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
40233 | USD |
CY2017Q3 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
367551 | USD |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
2832787 | USD | |
CY2018Q3 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
-1785645 | USD |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
5815580 | USD | |
CY2017Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-19353691 | USD |
CY2018Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-40500917 | USD |
CY2017Q4 | us-gaap |
Security Deposit
SecurityDeposit
|
5000 | USD |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
4749834 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
5055000 | USD | |
CY2018Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
|
3100000 | USD |
us-gaap |
Stock Issued1
StockIssued1
|
0 | USD | |
us-gaap |
Stock Issued1
StockIssued1
|
9229819 | USD | |
us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments
|
9229819 | USD | |
us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
16137661 | USD | |
us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
841026 | USD | |
CY2016Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-6587554 | USD |
CY2017Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-12174614 | USD |
CY2018Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
380800 | USD |
CY2018Q1 | us-gaap |
Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
|
0.10 | |
CY2018Q1 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
one new share for every ten shares | |
CY2017Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
31545000 | shares |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
31545000 | shares | |
CY2018Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
25818495 | shares |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
24269266 | shares | |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and disclosures made in the accompanying notes to the financial statements. Areas of the financial statements where estimates may have the most significant effect include accrued expenses, share-based compensation, deferred compensation, valuation allowance for income tax assets and management’s assessment of the Company’s ability to continue as a going concern. Changes in the facts or circumstances underlying these estimates could result in material changes and actual results could differ from these estimates.</font></div></div> |