10-Q Filing

INSIGHT MOLECULAR DIAGNOSTICS INC. CIK: 1642380 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001140361-16-075892`
Period End Date	20160630
Filing Date	20160811
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	ocx-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 36 Cash Flow Statement 46 Comprehensive Income 12

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$257.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.00M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
BioTime shares held as available-for-sale securities, at fair value	`AvailableForSaleSecuritiesEquitySecuritiesCurrent`	$2.54M	USD	Point-in-time
BioTime shares held as available-for-sale securities, at fair value	`AvailableForSaleSecuritiesEquitySecuritiesCurrent`	$1.62M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$388.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$129.00K	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$10.93M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.75M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.11M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.23M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Equipment and furniture, net	`PropertyPlantAndEquipmentNet`	$515.00K	USD	Point-in-time
Equipment and furniture, net	`PropertyPlantAndEquipmentNet`	$576.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	25.39M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	25.43M	shares	Point-in-time
Common shares, shares outstanding (in shares)	`CommonStockSharesOutstanding`	25.39M	shares	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$54.00K	USD	Point-in-time
Common shares, shares outstanding (in shares)	`CommonStockSharesOutstanding`	25.43M	shares	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	-	USD	Point-in-time
TOTAL ASSETS	`Assets`	$7.42M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$12.73M	USD	Point-in-time
Amount due to parent, BioTime	`DueToRelatedPartiesCurrent`	$1.69M	USD	Point-in-time
Amount due to parent, BioTime	`DueToRelatedPartiesCurrent`	$807.00K	USD	Point-in-time
Amount due to affiliates	`DueToAffiliateCurrent`	$151.00K	USD	Point-in-time
Amount due to affiliates	`DueToAffiliateCurrent`	$40.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$285.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$192.00K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.18M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$509.00K	USD	Point-in-time
Capital lease liability, current portion	`CapitalLeaseObligationsCurrent`	-	USD	Point-in-time
Capital lease liability, current portion	`CapitalLeaseObligationsCurrent`	$173.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.31M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.71M	USD	Point-in-time
Capital lease liability, net of current portion	`CapitalLeaseObligationsNoncurrent`	$244.00K	USD	Point-in-time
Capital lease liability, net of current portion	`CapitalLeaseObligationsNoncurrent`	-	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$2.96M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$2.31M	USD	Point-in-time
Commitments and contingencies (see Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (see Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, no par value, 5,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, no par value, 5,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, no par value, 50,000 shares authorized; 25,431 and 25,391 shares issued and outstanding at June 30, 2016 and December 31, 2015, respectively	`CommonStockValue`	$35.34M	USD	Point-in-time
Common stock, no par value, 50,000 shares authorized; 25,431 and 25,391 shares issued and outstanding at June 30, 2016 and December 31, 2015, respectively	`CommonStockValue`	$34.90M	USD	Point-in-time
Accumulated other comprehensive loss on available-for-sale securities	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.27M	USD	Point-in-time
Accumulated other comprehensive loss on available-for-sale securities	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-350.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-24.13M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-29.61M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$10.42M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.47M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$7.42M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$12.73M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$2.00M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.20M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.88M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$886.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$519.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$769.00K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.34M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.58M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$5.46M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.41M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.53M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.77M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.53M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.46M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.41M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.77M	USD	2 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNet`	$-7.00K	USD	2 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNet`	$-11.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$-7.00K	USD	2 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNet`	$-6.00K	USD	1 Quarter
Total other income (expenses), net	`NonoperatingIncomeExpense`	$-7.00K	USD	2 Qtrs
Total other income (expenses), net	`NonoperatingIncomeExpense`	$-11.00K	USD	1 Quarter
Total other income (expenses), net	`NonoperatingIncomeExpense`	$-6.00K	USD	1 Quarter
Total other income (expenses), net	`NonoperatingIncomeExpense`	$-7.00K	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-2.78M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-1.41M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-5.47M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-2.54M	USD	1 Quarter
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	1 Quarter
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.22	USD	2 Qtrs
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.10	USD	1 Quarter
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.13	USD	2 Qtrs
Weighted average common shares outstanding: basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	25.41M	shares	2 Qtrs
Weighted average common shares outstanding: basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	21.20M	shares	1 Quarter
Weighted average common shares outstanding: basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	25.43M	shares	1 Quarter
Weighted average common shares outstanding: basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	21.20M	shares	2 Qtrs

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.78M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.41M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.47M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.54M	USD	1 Quarter
Depreciation expense	`Depreciation`	$54.00K	USD	2 Qtrs
Depreciation expense	`Depreciation`	$21.00K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$121.00K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$121.00K	USD	2 Qtrs
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$361.00K	USD	2 Qtrs
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$151.00K	USD	2 Qtrs
Contingently issuable warrant expense to investors	`ContingentlyIssuableWarrantExpenseToInvestors`	-	USD	2 Qtrs
Contingently issuable warrant expense to investors	`ContingentlyIssuableWarrantExpenseToInvestors`	$65.00K	USD	2 Qtrs
Amount due to parent, BioTime	`IncreaseDecreaseInDueToRelatedParties`	$881.00K	USD	2 Qtrs
Amount due to parent, BioTime	`IncreaseDecreaseInDueToRelatedParties`	$1.37M	USD	2 Qtrs
Amount due to affiliates	`IncreaseDecreaseInDueToAffiliates`	$111.00K	USD	2 Qtrs
Amount due to affiliates	`IncreaseDecreaseInDueToAffiliates`	$-150.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-259.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-67.00K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-290.00K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-16.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.15M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-3.97M	USD	2 Qtrs
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.00K	USD	2 Qtrs
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.00K	USD	2 Qtrs
Security deposit	`SecurityDepositReceived`	-	USD	2 Qtrs
Security deposit	`SecurityDepositReceived`	$-54.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-64.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-11.00K	USD	2 Qtrs
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$82.00K	USD	2 Qtrs
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	-	USD	2 Qtrs
Proceeds from issuance of common shares	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Proceeds from issuance of common shares	`ProceedsFromIssuanceOfCommonStock`	$3.30M	USD	2 Qtrs
Repayment of capital lease obligation	`RepaymentsOfLongTermCapitalLeaseObligations`	-	USD	2 Qtrs
Repayment of capital lease obligation	`RepaymentsOfLongTermCapitalLeaseObligations`	$40.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$3.30M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$42.00K	USD	2 Qtrs
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.00M	USD	2 Qtrs
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.14M	USD	2 Qtrs
At beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$257.00K	USD	Point-in-time
At beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$2.40M	USD	Point-in-time
At beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$8.00M	USD	Point-in-time
At beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$4.00M	USD	Point-in-time
At end of the period	`CashAndCashEquivalentsAtCarryingValue`	$257.00K	USD	Point-in-time
At end of the period	`CashAndCashEquivalentsAtCarryingValue`	$2.40M	USD	Point-in-time
At end of the period	`CashAndCashEquivalentsAtCarryingValue`	$8.00M	USD	Point-in-time
At end of the period	`CashAndCashEquivalentsAtCarryingValue`	$4.00M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
NET LOSS	`NetIncomeLoss`	$-2.78M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-1.41M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-5.47M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-2.54M	USD	1 Quarter
Unrealized loss on BioTime shares held as available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-161.00K	USD	1 Quarter
Unrealized loss on BioTime shares held as available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-1.18M	USD	1 Quarter
Unrealized loss on BioTime shares held as available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-923.00K	USD	2 Qtrs
Unrealized loss on BioTime shares held as available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-88.00K	USD	2 Qtrs
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-2.70M	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-2.87M	USD	2 Qtrs
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-2.59M	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-6.39M	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.