$IPWR
Ideal Power Inc.

2019 Q2 Form 10-Q Financial Statement

#000114420419026531 Filed on May 15, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2019 Q1 2018 Q4
Revenue $0.00 $0.00 -$340.0K
YoY Change -100.0% -241.67%
Cost Of Revenue $0.00 $0.00 -$550.0K
YoY Change -100.0% -257.14%
Gross Profit $0.00 $0.00 $210.0K
YoY Change -100.0% -290.91%
Gross Profit Margin
Selling, General & Admin $580.0K $470.0K $570.0K
YoY Change -34.66% -58.64% -44.12%
% of Gross Profit 271.43%
Research & Development $340.0K $218.2K -$400.0K
YoY Change -62.45% 130.81% -149.38%
% of Gross Profit -190.48%
Depreciation & Amortization $30.00K $27.60K $30.00K
YoY Change -25.0% -36.86% -72.73%
% of Gross Profit 14.29%
Operating Expenses $920.0K $686.6K $170.0K
YoY Change -48.7% -29.7% -90.71%
Operating Profit -$920.0K -$686.6K $40.00K
YoY Change -47.67% -29.7% -102.06%
Interest Expense $10.00K -$10.00K $0.00
YoY Change -75.0%
% of Operating Profit 0.0%
Other Income/Expense, Net
YoY Change
Pretax Income -$910.0K -$690.0K $40.00K
YoY Change -16.51% -29.59% -102.06%
Income Tax
% Of Pretax Income
Net Earnings -$1.250M -$1.041M -$1.880M
YoY Change -27.43% -49.38% -3.09%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$850.3K -$727.3K -$1.315M
COMMON SHARES
Basic Shares Outstanding 14.72M 14.72M 14.00M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q2 2019 Q1 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.440M $2.230M $3.260M
YoY Change -79.37% -72.64% -67.47%
Cash & Equivalents $1.440M $2.229M $3.258M
Short-Term Investments
Other Short-Term Assets $610.0K $1.060M $69.50K
YoY Change 22.0% 324.0% 44.34%
Inventory
Prepaid Expenses
Receivables $0.00
Other Receivables $0.00
Total Short-Term Assets $2.050M $3.289M $4.688M
YoY Change -74.03% -62.53% -56.5%
LONG-TERM ASSETS
Property, Plant & Equipment $400.0K $55.60K $63.21K
YoY Change -22.05% -90.25% -53.05%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $20.00K $17.92K $17.92K
YoY Change -63.91% -55.2% -52.21%
Total Long-Term Assets $2.070M $1.871M $1.478M
YoY Change -22.33% -30.69% -47.02%
TOTAL ASSETS
Total Short-Term Assets $2.050M $3.289M $4.688M
Total Long-Term Assets $2.070M $1.871M $1.478M
Total Assets $4.120M $5.161M $6.166M
YoY Change -60.98% -55.04% -54.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $100.0K $130.5K $94.20K
YoY Change -80.69% -56.51% -55.74%
Accrued Expenses $340.0K $177.8K $167.8K
YoY Change -70.43% -82.39% -62.57%
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 $910.0K $976.8K $1.140M
YoY Change -45.43% -25.43% -25.54%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $820.0K $650.0K $430.0K
YoY Change 77.41% 41.55% -5.75%
Total Long-Term Liabilities $820.0K $650.0K $428.2K
YoY Change 77.41% 41.55% -6.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $910.0K $976.8K $1.140M
Total Long-Term Liabilities $820.0K $650.0K $428.2K
Total Liabilities $1.740M $1.630M $1.568M
YoY Change -18.3% -7.78% -21.09%
SHAREHOLDERS EQUITY
Retained Earnings -$64.46M -$63.41M
YoY Change 11.97% 14.24%
Common Stock $14.74K $14.03K
YoY Change 5.27% 0.21%
Preferred Stock
YoY Change
Treasury Stock (at cost) $13.21K $13.21K
YoY Change 76.39% 76.39%
Treasury Stock Shares $13.18K $13.18K
Shareholders Equity $2.380M $3.531M $4.598M
YoY Change
Total Liabilities & Shareholders Equity $4.120M $5.161M $6.166M
YoY Change -60.98% -55.06% -54.55%

Cashflow Statement

Concept 2019 Q2 2019 Q1 2018 Q4
OPERATING ACTIVITIES
Net Income -$1.250M -$1.041M -$1.880M
YoY Change -27.43% -49.38% -3.09%
Depreciation, Depletion And Amortization $30.00K $27.60K $30.00K
YoY Change -25.0% -36.86% -72.73%
Cash From Operating Activities -$760.0K -$1.000M -$2.160M
YoY Change -33.33% -45.28% 44.0%
INVESTING ACTIVITIES
Capital Expenditures -$30.00K $1.194K -$40.00K
YoY Change 0.0% -75.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 -$80.00K
YoY Change
Cash From Investing Activities -$30.00K -$30.00K -$120.0K
YoY Change 0.0% -27.9% -25.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -10.00K
YoY Change
NET CHANGE
Cash From Operating Activities -760.0K -1.000M -2.160M
Cash From Investing Activities -30.00K -30.00K -120.0K
Cash From Financing Activities 0.000 -10.00K
Net Change In Cash -790.0K -1.030M -2.290M
YoY Change -32.48% -44.89% 37.95%
FREE CASH FLOW
Cash From Operating Activities -$760.0K -$1.000M -$2.160M
Capital Expenditures -$30.00K $1.194K -$40.00K
Free Cash Flow -$730.0K -$1.001M -$2.120M
YoY Change -34.23% -45.21% 58.21%

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CY2019Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
66057
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
386624
CY2018Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
0
CY2019Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
167090
CY2018Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
0
CY2019Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
221828
CY2018Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
0
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
11580123
CY2018Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
192033
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
-2056162
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
9715994
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
4597944
CY2019Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
0
CY2019Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
-25814
CY2019Q1 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
140000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
142893
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
196477
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
83149
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
422519
CY2018Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
33601
CY2018Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
388918
CY2019Q1 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.08
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
46194
CY2019Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
48488
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P26M
CY2019Q1 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
708430
CY2019Q1 us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
708430
CY2019Q1 us-gaap Description Of Other Regulatory Limitations
DescriptionOfOtherRegulatoryLimitations
On March 7, 2019, and following an initial notice of non-compliance from Nasdaq on September 7, 2018, the Company received a notice letter from Nasdaq indicating that it had not regained compliance with the minimum bid price requirement of $1 per share, as set forth in Nasdaq Listing Rule 5550(a)(2). However, Nasdaq determined that the Company was eligible for an additional 180-day period, or until September 3, 2019, to regain compliance based on the fact that it met the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the minimum bid price requirement, and it had provided written notice to Nasdaq of its intent to cure the deficiency during this second compliance period, by effecting a reverse stock split, if necessary. If the Company is unable to regain compliance with the Nasdaq’s minimum bid price requirement or with the continued listing requirements of The NASDAQ Stock Market, its common stock may be delisted in the future which could adversely affect its ability to raise additional capital.
CY2019Q1 ipwr Working Capital
WorkingCapital
2300000
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0
CY2019Q1 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
0
CY2019Q1 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2019Q1 us-gaap Revenues
Revenues
0
CY2018Q1 us-gaap Revenues
Revenues
0
CY2019Q1 us-gaap Cost Of Revenue
CostOfRevenue
0
CY2018Q1 us-gaap Cost Of Revenue
CostOfRevenue
0
CY2019Q1 us-gaap Gross Profit
GrossProfit
0
CY2018Q1 us-gaap Gross Profit
GrossProfit
0
CY2019Q1 ipwr Net Cash Provided Used For Operating Activities
NetCashProvidedUsedForOperatingActivities
-1000000
CY2019Q1 dei Document Type
DocumentType
10-Q
CY2019Q1 dei Amendment Flag
AmendmentFlag
false
CY2019Q1 dei Document Period End Date
DocumentPeriodEndDate
2019-03-31
CY2019Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2019
CY2019Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2019Q1 dei Entity Registrant Name
EntityRegistrantName
Ideal Power Inc.
CY2019Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001507957
CY2019Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2019Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2019Q1 dei Trading Symbol
TradingSymbol
IPWR
CY2019Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
14722840
CY2019Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2019Q1 dei Entity Small Business
EntitySmallBusiness
true

Files In Submission

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0001144204-19-026531-index.html Edgar Link pending
0001144204-19-026531.txt Edgar Link pending
0001144204-19-026531-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
ipwr-20190331.xml Edgar Link completed
ipwr-20190331.xsd Edgar Link pending
ipwr-20190331_cal.xml Edgar Link unprocessable
ipwr-20190331_def.xml Edgar Link unprocessable
ipwr-20190331_lab.xml Edgar Link unprocessable
ipwr-20190331_pre.xml Edgar Link unprocessable
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