$ISPC
iSpecimen Inc.

2021 Q3 Form 10-Q Financial Statement

#000110465921102514 Filed on August 10, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q2
Revenue $2.719M $2.904M $1.505M
YoY Change 20.82% 93.0%
Cost Of Revenue $913.8K $1.489M $474.0K
YoY Change 1.1% 214.19%
Gross Profit $1.805M $1.415M $1.031M
YoY Change 34.05% 37.27%
Gross Profit Margin 66.39% 48.72% 68.5%
Selling, General & Admin $2.149M $2.193M $711.2K
YoY Change 67.77% 208.41%
% of Gross Profit 119.1% 155.05% 69.01%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.13K $11.13K $14.34K
YoY Change 127.93% -22.38%
% of Gross Profit 0.62% 0.79% 1.39%
Operating Expenses $2.149M $2.193M $711.2K
YoY Change 67.77% 208.41%
Operating Profit -$1.459M -$1.529M -$305.0K
YoY Change 101.79% 401.15%
Interest Expense $75.92K $1.133M $459.0K
YoY Change -83.83% 146.94%
% of Operating Profit
Other Income/Expense, Net -$93.95K $133.6K $130.8K
YoY Change -82.05% 2.18%
Pretax Income -$1.553M -$1.395M -$174.2K
YoY Change 24.59% 700.58%
Income Tax $0.00 $0.00 -$145.00
% Of Pretax Income
Net Earnings -$1.553M -$1.395M -$174.1K
YoY Change 24.59% 701.25%
Net Earnings / Revenue -57.13% -48.04% -11.57%
Basic Earnings Per Share -$0.22 -$0.87
Diluted Earnings Per Share -$223.1K -$0.87 -$26.84K
COMMON SHARES
Basic Shares Outstanding 6.923M 1.612M
Diluted Shares Outstanding 6.960M 1.612M

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.791M $13.18M
YoY Change 919.87%
Cash & Equivalents $9.791M $13.18M $1.301M
Short-Term Investments
Other Short-Term Assets $459.3K $442.1K
YoY Change 317.56%
Inventory
Prepaid Expenses
Receivables $2.719M $1.987M
Other Receivables $179.4K $179.4K
Total Short-Term Assets $14.90M $16.92M
YoY Change 343.42%
LONG-TERM ASSETS
Property, Plant & Equipment $44.75K $55.88K
YoY Change -50.28%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $27.60K $27.60K
YoY Change -8.0%
Total Long-Term Assets $2.723M $2.686M
YoY Change 1.23%
TOTAL ASSETS
Total Short-Term Assets $14.90M $16.92M
Total Long-Term Assets $2.723M $2.686M
Total Assets $17.62M $19.61M
YoY Change 191.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $351.4K $3.233M
YoY Change -70.96%
Accrued Expenses $1.025M $1.880M
YoY Change -72.44%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $2.103M $5.926M
YoY Change -89.62%
LONG-TERM LIABILITIES
Long-Term Debt $3.428M $3.000M
YoY Change 1005.93%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $3.428M $3.000M
YoY Change 1005.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.103M $5.926M
Total Long-Term Liabilities $3.428M $3.000M
Total Liabilities $5.531M $8.926M
YoY Change -73.11%
SHAREHOLDERS EQUITY
Retained Earnings -$35.97M -$34.42M
YoY Change
Common Stock $697.00 $657.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $172.00 $172.00
YoY Change
Treasury Stock Shares $31.00K $31.00K
Shareholders Equity $12.09M $10.68M -$24.48M
YoY Change
Total Liabilities & Shareholders Equity $17.62M $19.61M
YoY Change 191.27%

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$1.553M -$1.395M -$174.1K
YoY Change 24.59% 701.25%
Depreciation, Depletion And Amortization $11.13K $11.13K $14.34K
YoY Change 127.93% -22.38%
Cash From Operating Activities -$6.080M -$3.142M
YoY Change -3762.53%
INVESTING ACTIVITIES
Capital Expenditures -$290.8K -$228.4K
YoY Change -52.31%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$290.8K -$228.4K
YoY Change -52.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.977M 16.20M
YoY Change 189.07%
NET CHANGE
Cash From Operating Activities -6.080M -3.142M
Cash From Investing Activities -290.8K -228.4K
Cash From Financing Activities 2.977M 16.20M
Net Change In Cash -3.394M 12.83M
YoY Change -678.9%
FREE CASH FLOW
Cash From Operating Activities -$6.080M -$3.142M
Capital Expenditures -$290.8K -$228.4K
Free Cash Flow -$5.789M -$2.914M
YoY Change -846.23%

Facts In Submission

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dei Entity Incorporation State Country Code
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dei Security12b Title
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ispc Change In Fair Value Of Derivative Liabilities
ChangeInFairValueOfDerivativeLiabilities
22000
ispc Loss On Extinguishment Of Bridge Notes And Bridge Notes Related Parties
LossOnExtinguishmentOfBridgeNotesAndBridgeNotesRelatedParties
2740425
ispc Loss On Extinguishment Of Covertible Notes
LossOnExtinguishmentOfCovertibleNotes
260185
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
788156
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
500338
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
183117
ispc Accounts Receivable Unbilled
AccountsReceivableUnbilled
473028
ispc Accounts Receivable Unbilled
AccountsReceivableUnbilled
280555
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
24160
CY2021Q2 ispc Debt Conversion Original Debt Accrued Interest Amount
DebtConversionOriginalDebtAccruedInterestAmount
1300000
CY2021Q2 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
1206614
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-70394
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
359171
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
146202
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3493
ispc Increase Or Decrease In Tax Credit Receivable
IncreaseOrDecreaseInTaxCreditReceivable
104479
CY2021Q2 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
5.60
CY2021Q2 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
0
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1068902
ispc Debt Conversion Original Debt Principal Amount
DebtConversionOriginalDebtPrincipalAmount
4000000
CY2021Q2 us-gaap Long Term Debt
LongTermDebt
3000000.0
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
157086
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-1707225
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
906476
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
18000000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2339816
CY2021Q2 us-gaap Long Term Debt
LongTermDebt
3000000.0
CY2021Q2 ispc Working Capital Deficit
WorkingCapitalDeficit
10992909
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
16199817
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1783008
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
12488401
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
1246665
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
695909
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
53893
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13184310
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1300558
ispc Debt Conversion Original Debt Accrued Interest Amount
DebtConversionOriginalDebtAccruedInterestAmount
700000
us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
842429
CY2021Q2 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
5.60
us-gaap Interest Paid Net
InterestPaidNet
2824032
ispc Conversion Of Redeemable Convertible Preferred Stock Into Common Stock
ConversionOfRedeemableConvertiblePreferredStockIntoCommonStock
11173076
ispc Conversion Of Convertible Notes And Accrued Interest Into Common Stock
ConversionOfConvertibleNotesAndAccruedInterestIntoCommonStock
6748729
ispc Conversion Of Bridge Notes And Accrued Interest Into Common Stock
ConversionOfBridgeNotesAndAccruedInterestIntoCommonStock
4717646
ispc Issuance Of Common Stock Warrants As Offering Costs In Connection With Public Offering Of Common Stock
IssuanceOfCommonStockWarrantsAsOfferingCostsInConnectionWithPublicOfferingOfCommonStock
374400
CY2021Q2 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
0
CY2021Q2 ispc Debt Conversion Original Debt Principal Amount
DebtConversionOriginalDebtPrincipalAmount
5500000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3268535
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
55681
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2550
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1007
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
440331
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
591017
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-442881
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-592024
us-gaap Proceeds From Unsecured Notes Payable
ProceedsFromUnsecuredNotesPayable
500000
us-gaap Proceeds From Unsecured Notes Payable
ProceedsFromUnsecuredNotesPayable
1000000
us-gaap Proceeds From Secured Notes Payable
ProceedsFromSecuredNotesPayable
783008
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
39633
CY2021Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-34415992
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
13184310
CY2021Q2 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
5113043
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;line-height:1.19;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt 0pt 12pt 0pt;">The preparation of the Company’s unaudited interim condensed financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company utilizes certain estimates in the determination of the fair value of its warrants, deferred tax valuation allowances, revenue recognition, share-based compensation, derivative liabilities for embedded conversion features, and accrued expenses amongst others. The Company bases its estimates on historical experience and other market-specific or other relevant assumptions that it believes to be reasonable under the circumstances. Actual results could differ from such estimates.</p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;line-height:1.19;margin:0pt 0pt 12pt 0pt;">Off-Balance Sheet Risk and Concentrations of Credit Risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt 0pt 12pt 0pt;">The Company has no significant off-balance sheet risks, such as foreign exchange contracts, option contracts, or other foreign hedging arrangements. Cash accounts are maintained at financial institutions that potentially subject the Company to concentrations of credit risk. At June 30, 2021 and December 31, 2020, substantially all of the Company’s cash was deposited in accounts at one financial institution. The Company maintains its cash deposits, which at times may exceed the federally insured limits, with a reputable financial institution and, accordingly, the Company believes such funds are subject to minimal credit risk.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;line-height:1.19;margin:0pt 0pt 12pt 0pt;"><span style="font-style:normal;font-weight:normal;">Concentration of credit risk with respect to accounts receivable is typically related to customers who account for a significant portion of revenue. During the three months ended June 30, 2021, </span><span style="font-style:normal;font-weight:normal;">two</span><span style="font-style:normal;font-weight:normal;"> customers represented approximately </span><span style="font-style:normal;font-weight:normal;">14%</span><span style="font-style:normal;font-weight:normal;"> and </span><span style="font-style:normal;font-weight:normal;">10%</span><span style="font-style:normal;font-weight:normal;"> of the Company’s revenues and comprised </span><span style="font-style:normal;font-weight:normal;">15%</span><span style="font-style:normal;font-weight:normal;"> and </span><span style="font-style:normal;font-weight:normal;">4%</span><span style="font-style:normal;font-weight:normal;"> of accounts receivable and </span><span style="font-style:normal;font-weight:normal;">0%</span><span style="font-style:normal;font-weight:normal;"> and </span><span style="font-style:normal;font-weight:normal;">0%</span><span style="font-style:normal;font-weight:normal;"> of accounts receivable-unbilled at June 30, 2021. During the three months ended June 30, 2020, </span><span style="font-style:normal;font-weight:normal;">one</span><span style="font-style:normal;font-weight:normal;"> customer represented approximately </span><span style="font-style:normal;font-weight:normal;">31%</span><span style="font-style:normal;font-weight:normal;"> of the Company’s revenues and comprised </span><span style="font-style:normal;font-weight:normal;">1%</span><span style="font-style:normal;font-weight:normal;"> of accounts receivable, and </span><span style="font-style:normal;font-weight:normal;">0%</span><span style="font-style:normal;font-weight:normal;"> of accounts receivable-unbilled at June 30, 2020.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;line-height:1.19;margin:0pt 0pt 12pt 0pt;"><span style="font-style:normal;font-weight:normal;">During the six months ended June 30, 2021, </span><span style="font-style:normal;font-weight:normal;">two</span><span style="font-style:normal;font-weight:normal;"> customers represented approximately </span><span style="font-style:normal;font-weight:normal;">14%</span><span style="font-style:normal;font-weight:normal;"> and </span><span style="font-style:normal;font-weight:normal;">11%</span><span style="font-style:normal;font-weight:normal;"> of the Company’s revenues and comprised </span><span style="font-style:normal;font-weight:normal;">4%</span><span style="font-style:normal;font-weight:normal;"> and </span><span style="font-style:normal;font-weight:normal;">2%</span><span style="font-style:normal;font-weight:normal;"> of accounts receivable and </span><span style="font-style:normal;font-weight:normal;">0%</span><span style="font-style:normal;font-weight:normal;"> and </span><span style="font-style:normal;font-weight:normal;">0%</span><span style="font-style:normal;font-weight:normal;"> of accounts receivable-unbilled at June 30, 2021. During the six months ended June 30, 2020, </span><span style="font-style:normal;font-weight:normal;">two</span><span style="font-style:normal;font-weight:normal;"> customers represented approximately </span><span style="font-style:normal;font-weight:normal;">30%</span><span style="font-style:normal;font-weight:normal;"> and </span><span style="font-style:normal;font-weight:normal;">18%</span><span style="font-style:normal;font-weight:normal;"> of the Company’s revenues and comprised </span><span style="font-style:normal;font-weight:normal;">1%</span><span style="font-style:normal;font-weight:normal;"> and </span><span style="font-style:normal;font-weight:normal;">0%</span><span style="font-style:normal;font-weight:normal;"> of accounts receivable, and </span><span style="font-style:normal;font-weight:normal;">0%</span><span style="font-style:normal;font-weight:normal;"> and </span><span style="font-style:normal;font-weight:normal;">53%</span><span style="font-style:normal;font-weight:normal;"> of accounts receivable-unbilled at June 30, 2020.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt 0pt 12pt 0pt;">During the three months ended June 30, 2021 and 2020, revenue attributable to customers located in foreign countries represented approximately 11% and 4% of revenue, respectively. During the three months ended June 30, 2021 and 2020, accounts receivable attributable to customers located in foreign countries represented approximately 8% and 6% of accounts receivable, respectively. During the three months ended June 30, 2021 and 2020, accounts receivable-unbilled attributable to customers located in foreign countries represented approximately 6% and 1% of accounts receivable-unbilled, respectively.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt 0pt 12pt 0pt;">During the six months ended June 30, 2021 and 2020, revenue attributable to customers located in foreign countries represented approximately 8% and 7% of revenue, respectively. During the six months ended June 30, 2021 and 2020, accounts receivable attributable to customers located in foreign countries represented approximately 8% and 6% of accounts receivable, respectively. During the six months ended June 30, 2021 and 2020, accounts receivable-unbilled attributable to customers located in foreign countries represented approximately 6% and 1% of accounts receivable-unbilled, respectively.</p>
CY2021Q2 ispc Number Of Customers
NumberOfCustomers
2
CY2020Q2 ispc Number Of Customers
NumberOfCustomers
1
ispc Number Of Customers
NumberOfCustomers
2
ispc Number Of Customers
NumberOfCustomers
2
CY2021Q2 us-gaap Deferred Offering Costs
DeferredOfferingCosts
600000
CY2021Q2 ispc Deferred Initial Public Offering Costs
DeferredInitialPublicOfferingCosts
2300000
CY2021Q2 us-gaap Deferred Offering Costs
DeferredOfferingCosts
0
CY2020Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
265000
CY2021Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
165254
CY2021Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
284204
us-gaap Derivatives Embedded Derivatives
DerivativesEmbeddedDerivatives
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;line-height:1.19;margin:0pt 0pt 12pt 0pt;">Derivative Liability for Embedded Conversion Features</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt 0pt 12pt 0pt;">The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt 0pt 12pt 0pt;">The Company evaluates its convertible instruments to determine if those contracts or embedded components of those contracts qualify as derivatives to be accounted for separately. In circumstances where the embedded conversion option in a convertible instrument is required to be bifurcated and there are also other bifurcated embedded derivative instruments in the convertible instrument, the bifurcated derivative instruments are accounted for as a single, compound derivative instrument. The result of this accounting treatment is that the fair value of the embedded derivative is recorded as a liability and marked-to-market each balance sheet date, with the change in fair value recorded in the statements of operations as other income or expense. Upon conversion or exercise of a derivative instrument, the instrument is marked to fair value at the conversion date and then that fair value is reclassified to equity.</p>
ispc Number Of Days From Receipt Of Specimens To Inspect Specimens To Ensure Compliance
NumberOfDaysFromReceiptOfSpecimensToInspectSpecimensToEnsureCompliance
P14D
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2903876
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1504569
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5867683
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3216228
CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
147714
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
108096
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
261944
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
55879
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
75589
CY2021Q2 us-gaap Depreciation
Depreciation
11130
CY2020Q2 us-gaap Depreciation
Depreciation
14340
us-gaap Depreciation
Depreciation
22260
us-gaap Depreciation
Depreciation
28680
CY2021Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
27601
ispc Schedule Of Common Stock Equivalents Excluded From Diluted Net Loss Per Share
ScheduleOfCommonStockEquivalentsExcludedFromDilutedNetLossPerShare
<p style="font-family:'Times New Roman','Times','serif';font-size:11pt;min-height:0.0pt;margin:0pt;"><span style="font-size:0pt;line-height:1.27;margin-bottom:8pt;visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:76.14%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;margin-bottom:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.41%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;margin-bottom:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;margin-bottom:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.41%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;margin-bottom:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.5%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;margin-bottom:8pt;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:76.14%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.27;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;margin-bottom:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.41%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.27;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;margin-bottom:8pt;visibility:hidden;">​</span></p></td><td colspan="3" style="vertical-align:middle;white-space:nowrap;width:21.43%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.27;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">Six months ended June 30, </b></p></td></tr><tr><td style="vertical-align:bottom;width:76.14%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;margin-bottom:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.41%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><b style="color:#231f20;font-weight:bold;">    </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;border-bottom:1px solid #231f20;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.27;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="color:#231f20;font-weight:bold;">2021</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.41%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><b style="color:#231f20;font-weight:bold;">    </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.5%;border-bottom:1px solid #231f20;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.27;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="color:#231f20;font-weight:bold;">2020</b></p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:76.14%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="color:#231f20;">Shares issuable upon conversion of preferred stock</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.41%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="color:#231f20;"> </span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;text-align:right;margin:0pt 3pt 0.05pt 0pt;">—</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.41%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;margin-bottom:8pt;visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.5%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 1,291,012</p></td></tr><tr><td style="vertical-align:bottom;width:76.14%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="color:#231f20;">Shares issuable upon exercise of stock options</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.41%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="color:#231f20;"> </span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 224,914</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.41%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;margin-bottom:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.5%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 253,575</p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:76.14%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="color:#231f20;">Shares issuable upon exercise of warrants to purchase common stock</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.41%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="color:#231f20;"> </span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 23,309</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.41%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;margin-bottom:8pt;visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.5%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 23,309</p></td></tr><tr><td style="vertical-align:bottom;width:76.14%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="color:#231f20;">Shares issuable upon exercise of Underwriter Warrants to purchase common stock</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.41%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="color:#231f20;"> </span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 90,000</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.41%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;margin-bottom:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.5%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;text-align:right;margin:0pt 3pt 0.05pt 0pt;">—</p></td></tr></table>
CY2020Q2 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
1291012
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
224914
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
253575
ispc Shares Issuable Upon Exercise Of Warrants To Purchase Common Stock
SharesIssuableUponExerciseOfWarrantsToPurchaseCommonStock
23309
ispc Shares Issuable Upon Exercise Of Warrants To Purchase Common Stock
SharesIssuableUponExerciseOfWarrantsToPurchaseCommonStock
23309
CY2021Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
90000
ispc Percentage Of Holdback Of Factored Accounts Receivable Less Factoring Fees
PercentageOfHoldbackOfFactoredAccountsReceivableLessFactoringFees
0.25
CY2021Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
340083
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
337533
us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
440331
us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
591017
CY2021Q2 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
236355
CY2020Q2 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
213749
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
471584
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
420257
ispc Conversion Of Principal And Accrued Interest Of Convertible Notes And Bridge Notes Into Common Stock Upon Initial Public Offering
ConversionOfPrincipalAndAccruedInterestOfConvertibleNotesAndBridgeNotesIntoCommonStockUponInitialPublicOffering
16392344
ispc Schedule Of Components Of Convertible Notes And Bridge Notes Of Non Cash Transaction
ScheduleOfComponentsOfConvertibleNotesAndBridgeNotesOfNonCashTransaction
<p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.19;margin:0pt;"><span style="line-height:1.27;margin-bottom:8pt;visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:81.74%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;margin-bottom:8pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.58%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;margin-bottom:8pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.63%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;margin-bottom:8pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;margin-bottom:8pt;visibility:hidden;">​</span></p></div></div></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:81.74%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;">Derivative liability on the Convertible Notes reclassified to equity</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.58%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;margin-bottom:8pt;visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;">$</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:14.03%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 2,644,000</p></td></tr><tr><td style="vertical-align:bottom;width:81.74%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;">Extinguishment of Convertible Notes principal</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.58%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;margin-bottom:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.03%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 5,486,199</p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:81.74%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;">Accrued and unpaid interest on the Convertible Notes</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.58%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;margin-bottom:8pt;visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:14.03%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 1,257,066</p></td></tr><tr><td style="vertical-align:bottom;width:81.74%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;">Accumulated amortization on debt issuance costs</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.58%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;margin-bottom:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.03%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 33,035</p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:81.74%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;">Loss on extinguishment of Convertible Notes</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.58%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;margin-bottom:8pt;visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:14.03%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 260,183</p></td></tr><tr><td style="vertical-align:bottom;width:81.74%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;">Write off of debt issuance costs</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.58%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;margin-bottom:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.03%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;text-align:right;margin:0pt 0pt 0.05pt 0pt;"> (27,571)</p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:81.74%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;">Derivative liability the Bridge Notes reclassified to equity</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.58%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;margin-bottom:8pt;visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:14.03%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 2,031,300</p></td></tr><tr><td style="vertical-align:bottom;width:81.74%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;">Extinguishment of Bridge Notes principal</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.58%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;margin-bottom:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.03%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 4,000,000</p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:81.74%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;">Accrued and unpaid interest on the Bridge Notes</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.58%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;margin-bottom:8pt;visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:14.03%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 717,646</p></td></tr><tr><td style="vertical-align:bottom;width:81.74%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;">Gain on extinguishment of Bridge Notes</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.58%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;margin-bottom:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.63%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.03%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;text-align:right;margin:0pt 0pt 0.05pt 0pt;"> (9,514)</p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:81.74%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;">Total conversion of Convertible Notes and Bridge Notes into common stock</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.58%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;margin-bottom:8pt;visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.63%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 0.05pt 0pt;">$</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:14.03%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 16,392,344</p></td></tr></table>
ispc Accumulated Amortization On Debt Issuance Costs
AccumulatedAmortizationOnDebtIssuanceCosts
33035
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
27571
ispc Conversion Of Principal And Accrued Interest Of Convertible Notes And Bridge Notes Into Common Stock Upon Initial Public Offering
ConversionOfPrincipalAndAccruedInterestOfConvertibleNotesAndBridgeNotesIntoCommonStockUponInitialPublicOffering
16392344
CY2021Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
80706
CY2021Q2 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
163158
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
39633
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0
CY2021Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
436719
CY2021Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
26902
CY2020Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
26553
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
67080
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
69518
CY2021Q2 ispc Shares Authorized
SharesAuthorized
250000000
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000
CY2021Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0047
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0066
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0135
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0141
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.4983
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.4998
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.4311
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.4391
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
245447
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
245447
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.77
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.72
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
28374
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
29287
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
50410
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
51332
CY2021Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
67575
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y9M3D
CY2021Q2 us-gaap Tax Credit Carryforward Amount
TaxCreditCarryforwardAmount
765000

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