Ideal Power Inc
For the period ended Jun 30, 2024. Filed Aug 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 14, 2024
IPWR$2.34+13.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Table of Contents
| PART I | FINANCIAL INFORMATION | 3 |
|---|---|---|
| Item 1. | Unaudited Condensed Financial Statements | 3 |
| Balance Sheets at June 30, 2024 and December 31, 2023 | 3 | |
| Statements of Operations for the three and six months ended June 30, 2024 and 2023 | 4 | |
| Statements of Cash Flows for the six months ended June 30, 2024 and 2023 | 5 | |
| Statements of Stockholders’ Equity for the three-month periods during the six months ended June 30, 2024 and 2023 | 6 | |
| Notes to Unaudited Financial Statements | 7 | |
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 12 |
| Item 3. | Quantitative and Qualitative Disclosures About Market Risk | 15 |
| Item 4. | Controls and Procedures | 15 |
| PART II | OTHER INFORMATION | 16 |
| Item 1. | Legal Proceedings | 16 |
| Item 1A. | Risk Factors | 16 |
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 16 |
| Item 3. | Defaults Upon Senior Securities | 16 |
| Item 4. | Mine Safety Disclosures | 16 |
| Item 5. | Other Information | 16 |
| Item 6. | Exhibits | 17 |
| SIGNATURES | 18 |
PART I-FINANCIAL INFORMATION
ITEM 1. UNAUDITED CONDENSED FINANCIAL STATEMENTS
IDEAL POWER INC.
Balance Sheets
| June 30, | December 31, | |
|---|---|---|
| 2024 | 2023 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $20,064,897 | $8,474,835 |
| Accounts receivable, net | 1,331 | 70,000 |
| Inventory | 79,662 | 81,450 |
| Prepayments and other current assets | 317,190 | 482,890 |
| Total current assets | 20,463,080 | 9,109,175 |
| Property and equipment, net | 351,533 | 359,225 |
| Intangible assets, net | 2,586,359 | 2,580,066 |
| Right of use asset | — | 186,570 |
| Other assets | 18,727 | 13,034 |
| Total assets | $23,419,699 | $12,248,070 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $230,634 | $405,098 |
| Accrued expenses | 649,186 | 455,112 |
| Current portion of lease liability | — | 70,683 |
| Total current liabilities | 879,820 | 930,893 |
| Long-term lease liability | — | 132,304 |
| Other long-term liabilities | 1,066,274 | 1,125,173 |
| Total liabilities | 1,946,094 | 2,188,370 |
| Commitments and contingencies (Note 5) | ||
| Stockholders’ equity: | ||
| Common stock, $0.001 par value; 50,000,000 shares authorized; 7,695,238 shares issued and 7,693,917 shares outstanding at June 30, 2024 and 5,998,018 shares issued and 5,996,697 shares outstanding at December 31, 2023 | 7,695 | 5,998 |
| Additional paid-in capital | 123,660,261 | 107,116,362 |
| Treasury stock, at cost, 1,321 shares at June 30, 2024 and December 31, 2023 | (13,210) | (13,210) |
| Accumulated deficit | (102,181,141) | (97,049,450) |
| Total stockholders’ equity | 21,473,605 | 10,059,700 |
| Total liabilities and stockholders’ equity | $23,419,699 | $12,248,070 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.