$IPWR
Ideal Power Inc.

2021 Q4 Form 10-Q Financial Statement

#000110465921137527 Filed on November 12, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $128.6K $121.0K $147.8K
YoY Change -52.37% -18.11%
Cost Of Revenue $128.6K $121.0K $147.8K
YoY Change -52.37% -18.11%
Gross Profit $0.00 $0.00 $0.00
YoY Change
Gross Profit Margin 0.0% 0.0% 0.0%
Selling, General & Admin $913.2K $629.2K $678.0K
YoY Change 60.22% -7.19% 44.25%
% of Gross Profit
Research & Development $501.7K $604.5K $494.5K
YoY Change -10.41% 22.23% 97.82%
% of Gross Profit
Depreciation & Amortization $43.95K $43.27K $30.00K
YoY Change 46.5% 44.23% 50.0%
% of Gross Profit
Operating Expenses $1.415M $1.234M $1.173M
YoY Change 24.12% 5.22% 62.85%
Operating Profit -$1.415M -$1.234M -$1.173M
YoY Change 24.12% 5.22% 62.85%
Interest Expense -$5.830K $5.012K $1.358K
YoY Change 269.07%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00 -$3.720M
YoY Change -100.0%
Pretax Income -$1.421M -$1.239M -$4.890M
YoY Change 24.63% -74.67% 579.17%
Income Tax
% Of Pretax Income
Net Earnings -$1.421M -$1.239M -$4.895M
YoY Change 24.63% -74.69% 504.29%
Net Earnings / Revenue -1104.7% -1023.46% -3312.02%
Basic Earnings Per Share -$0.20 -$1.28
Diluted Earnings Per Share -$231.2K -$0.20 -$1.28
COMMON SHARES
Basic Shares Outstanding 5.892M 6.126M 3.822M
Diluted Shares Outstanding 6.126M 3.822M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $23.17M $24.49M $3.770M
YoY Change 633.23% 549.54% 389.61%
Cash & Equivalents $23.17M $24.49M $3.769M
Short-Term Investments
Other Short-Term Assets $43.90K $100.4K $140.0K
YoY Change -63.42% -28.31% 7.69%
Inventory
Prepaid Expenses
Receivables $233.3K $262.5K $30.00K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $23.45M $24.85M $3.940M
YoY Change 580.34% 530.72% 337.78%
LONG-TERM ASSETS
Property, Plant & Equipment $56.16K $62.72K $170.0K
YoY Change 51.27% -63.11% -52.78%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $11.19K $11.19K $0.00
YoY Change -100.0%
Total Long-Term Assets $2.430M $2.434M $1.750M
YoY Change 44.16% 39.09% -13.37%
TOTAL ASSETS
Total Short-Term Assets $23.45M $24.85M $3.940M
Total Long-Term Assets $2.430M $2.434M $1.750M
Total Assets $25.88M $27.28M $5.690M
YoY Change 404.22% 379.52% 94.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $130.5K $57.36K $70.00K
YoY Change 27.96% -18.06% -65.0%
Accrued Expenses $353.5K $625.7K $510.0K
YoY Change -25.65% 22.68% 41.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $542.9K $740.5K $580.0K
YoY Change -17.69% 27.68% 5.45%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $90.00K
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $1.185M $1.242M $610.0K
YoY Change 115.4% 103.65% -21.79%
Total Long-Term Liabilities $1.185M $1.242M $700.0K
YoY Change 85.11% 77.47% -10.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $542.9K $740.5K $580.0K
Total Long-Term Liabilities $1.185M $1.242M $700.0K
Total Liabilities $1.728M $1.983M $1.280M
YoY Change 32.59% 54.91% -3.76%
SHAREHOLDERS EQUITY
Retained Earnings -$79.91M -$78.49M
YoY Change 6.35%
Common Stock $5.894K $5.873K
YoY Change 80.47%
Preferred Stock
YoY Change
Treasury Stock (at cost) $13.21K $13.21K
YoY Change 0.0%
Treasury Stock Shares $1.321K $1.321K
Shareholders Equity $24.15M $25.30M $4.408M
YoY Change
Total Liabilities & Shareholders Equity $25.88M $27.28M $5.690M
YoY Change 404.22% 379.52% 94.86%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$1.421M -$1.239M -$4.895M
YoY Change 24.63% -74.69% 504.29%
Depreciation, Depletion And Amortization $43.95K $43.27K $30.00K
YoY Change 46.5% 44.23% 50.0%
Cash From Operating Activities -$1.288M -$1.192M -$800.0K
YoY Change 78.91% 48.96% 23.08%
INVESTING ACTIVITIES
Capital Expenditures -$54.14K -$37.78K -$20.00K
YoY Change 170.7% 88.9% 0.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$54.14K -$37.78K -$20.00K
YoY Change 170.7% 88.9% 0.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 24.85K 0.000 2.790M
YoY Change -80.88% -100.0%
NET CHANGE
Cash From Operating Activities -1.288M -1.192M -800.0K
Cash From Investing Activities -54.14K -37.78K -20.00K
Cash From Financing Activities 24.85K 0.000 2.790M
Net Change In Cash -1.317M -1.229M 1.970M
YoY Change 115.97% -162.41% -394.03%
FREE CASH FLOW
Cash From Operating Activities -$1.288M -$1.192M -$800.0K
Capital Expenditures -$54.14K -$37.78K -$20.00K
Free Cash Flow -$1.234M -$1.154M -$780.0K
YoY Change 76.28% 47.93% 23.81%

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AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
208614
CY2020Q3 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
248616
CY2020Q3 ipwr Early Warrants Issued Value
EarlyWarrantsIssuedValue
2547586
CY2020Q3 ipwr Adjustment To Additional Paid In Capital Warrant Inducement Expense
AdjustmentToAdditionalPaidInCapitalWarrantInducementExpense
3720866
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-4894739
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
4408401
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
3829209
CY2021Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
21204609
CY2021Q1 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
3301226
CY2021Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
68680
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
61933
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-924150
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
27541507
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
91711
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-1186693
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
26446525
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
93868
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-1238678
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
25301715
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
337340
CY2021Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2038911
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1568903
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
36642
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1906243
CY2021Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
432857
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><span style="text-decoration:underline;">Reclassifications</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Certain items in prior financial statements have been reclassified to conform to current year presentation. These changes did not impact total revenue, loss from operations or net loss.</p>
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1242357
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1242357
CY2021Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2471768
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
82587
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
56132
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
393094
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
52763
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
340331
CY2021Q2 ipwr Sublease Percentage Subleased
SubleasePercentageSubleased
0.75
us-gaap Sublease Income
SubleaseIncome
88822
CY2021Q3 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P59M
CY2021Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
0
CY2020Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
49889
us-gaap Operating Lease Payments
OperatingLeasePayments
89423
us-gaap Operating Lease Payments
OperatingLeasePayments
146588
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
19017
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
48488
us-gaap Operating Lease Cost
OperatingLeaseCost
106169
us-gaap Operating Lease Cost
OperatingLeaseCost
145463
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
95517
CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
23110
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
68456
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
36812
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
147249
CY2021Q3 ipwr Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
1160015
CY2021Q3 ipwr Finite Lived Intangible Assets Patents Capitalized But Not Yet Awarded
FiniteLivedIntangibleAssetsPatentsCapitalizedButNotYetAwarded
253088
CY2020Q4 ipwr Finite Lived Intangible Assets Patents Capitalized But Not Yet Awarded
FiniteLivedIntangibleAssetsPatentsCapitalizedButNotYetAwarded
270000
CY2021Q2 ipwr Gain On Forgiveness Of Long Term Debt
GainOnForgivenessOfLongTermDebt
91407
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
18824
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
76482
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
78517
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
80552
CY2021Q1 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
4000
CY2021Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
68680
CY2021Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1040248
CY2021Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
3.92
CY2020Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
2273369
CY2021Q1 ipwr Class Of Warrant Or Right Exercised
ClassOfWarrantOrRightExercised
1233121
ipwr Class Of Warrant Or Right Exercised
ClassOfWarrantOrRightExercised
0
ipwr Convertible Preferred Stock Maximum Beneficial Ownership Percentage
ConvertiblePreferredStockMaximumBeneficialOwnershipPercentage
0.0499
CY2020Q3 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
2500000
CY2021Q3 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Fair Value Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares
3700000

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