10-Q Filing

INSIGHT MOLECULAR DIAGNOSTICS INC. CIK: 1642380 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0001140361-16-085842`
Period End Date	20160930
Filing Date	20161110
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	ocx-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 40 Cash Flow Statement 58 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`	$9.41M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.00M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.67M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	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`	$2.42M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$191.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$388.00K	USD	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
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`	$15.28M	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
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.23M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.05M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	28.68M	shares	Point-in-time
Equipment and furniture, net	`PropertyPlantAndEquipmentNet`	$475.00K	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 shares, shares outstanding (in shares)	`CommonStockSharesOutstanding`	28.68M	shares	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	-	USD	Point-in-time
Common shares, shares outstanding (in shares)	`CommonStockSharesOutstanding`	25.39M	shares	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$54.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$16.86M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$12.73M	USD	Point-in-time
Amount due to parent, BioTime	`DueToRelatedPartiesCurrent`	$807.00K	USD	Point-in-time
Amount due to parent, BioTime	`DueToRelatedPartiesCurrent`	$2.10M	USD	Point-in-time
Amount due to affiliates	`DueToAffiliateCurrent`	$40.00K	USD	Point-in-time
Amount due to affiliates	`DueToAffiliateCurrent`	$151.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$285.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$870.00K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.18M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$669.00K	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`	$3.97M	USD	Point-in-time
Capital lease liability, net of current portion	`CapitalLeaseObligationsNoncurrent`	-	USD	Point-in-time
Capital lease liability, net of current portion	`CapitalLeaseObligationsNoncurrent`	$211.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$2.31M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$4.18M	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; 28,677 and 25,391 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively	`CommonStockValue`	$34.90M	USD	Point-in-time
Common stock, no par value, 50,000 shares authorized; 28,677 and 25,391 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively	`CommonStockValue`	$45.35M	USD	Point-in-time
Accumulated other comprehensive loss on available-for-sale securities	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-474.00K	USD	Point-in-time
Accumulated other comprehensive loss on available-for-sale securities	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-350.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-32.20M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-24.13M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$10.42M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$12.68M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$16.86M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$12.73M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$4.25M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.36M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.09M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.10M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.31M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.80M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.22M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.08M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$5.18M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$8.05M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$2.58M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.41M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.58M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-8.05M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-5.18M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.41M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-13.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-19.00K	USD	3 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-16.00K	USD	3 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-9.00K	USD	1 Quarter
Other expenses, net	`OtherNonoperatingIncomeExpense`	$-1.00K	USD	1 Quarter
Other expenses, net	`OtherNonoperatingIncomeExpense`	$-1.00K	USD	3 Qtrs
Other expenses, net	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other expenses, net	`OtherNonoperatingIncomeExpense`	-	USD	3 Qtrs
Total other expenses, net	`NonoperatingIncomeExpense`	$-10.00K	USD	1 Quarter
Total other expenses, net	`NonoperatingIncomeExpense`	$-19.00K	USD	3 Qtrs
Total other expenses, net	`NonoperatingIncomeExpense`	$-13.00K	USD	1 Quarter
Total other expenses, net	`NonoperatingIncomeExpense`	$-17.00K	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-8.06M	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-2.42M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-5.20M	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-2.60M	USD	1 Quarter
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.31	USD	3 Qtrs
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.12	USD	1 Quarter
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`	$-0.26	USD	3 Qtrs
Weighted average common shares outstanding: basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	25.80M	shares	3 Qtrs
Weighted average common shares outstanding: basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.97M	shares	1 Quarter
Weighted average common shares outstanding: basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	26.56M	shares	1 Quarter
Weighted average common shares outstanding: basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.80M	shares	3 Qtrs

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-8.06M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.42M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.20M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.60M	USD	1 Quarter
Depreciation expense	`Depreciation`	$32.00K	USD	3 Qtrs
Depreciation expense	`Depreciation`	$102.00K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$181.00K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$60.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$60.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$181.00K	USD	3 Qtrs
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$258.00K	USD	1 Quarter
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$831.00K	USD	3 Qtrs
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$619.00K	USD	3 Qtrs
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$681.00K	USD	1 Quarter
Contingently issuable warrant expense to investors	`ContingentlyIssuableWarrantExpenseToInvestors`	-	USD	3 Qtrs
Contingently issuable warrant expense to investors	`ContingentlyIssuableWarrantExpenseToInvestors`	$65.00K	USD	3 Qtrs
Amount due to parent, BioTime	`IncreaseDecreaseInDueToRelatedParties`	$1.29M	USD	3 Qtrs
Amount due to parent, BioTime	`IncreaseDecreaseInDueToRelatedParties`	$1.30M	USD	3 Qtrs
Amount due to affiliates	`IncreaseDecreaseInDueToAffiliates`	$111.00K	USD	3 Qtrs
Amount due to affiliates	`IncreaseDecreaseInDueToAffiliates`	$-119.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-197.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-94.00K	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$275.00K	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$548.00K	USD	3 Qtrs
Accrued interest on related party convertible debt	`IncreaseDecreaseInInterestPayableNet`	-	USD	3 Qtrs
Accrued interest on related party convertible debt	`IncreaseDecreaseInInterestPayableNet`	$13.00K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.53M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-5.01M	USD	3 Qtrs
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.00K	USD	3 Qtrs
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.00K	USD	3 Qtrs
Proceeds from sale of BioTime shares	`ProceedsFromSaleOfAvailableForSaleSecuritiesEquity`	-	USD	3 Qtrs
Proceeds from sale of BioTime shares	`ProceedsFromSaleOfAvailableForSaleSecuritiesEquity`	$44.00K	USD	3 Qtrs
Security deposit	`SecurityDepositReceived`	-	USD	3 Qtrs
Security deposit	`SecurityDepositReceived`	$-54.00K	USD	3 Qtrs
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$33.00K	USD	3 Qtrs
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-73.00K	USD	3 Qtrs
Proceeds from issuance of common shares and warrants	`ProceedsFromIssuanceOfCommonSharesAndWarrants`	$10.55M	USD	3 Qtrs
Proceeds from issuance of common shares and warrants	`ProceedsFromIssuanceOfCommonSharesAndWarrants`	-	USD	3 Qtrs
Financing costs paid to issue common shares and warrants	`PaymentsOfStockIssuanceCosts`	$800.00K	USD	3 Qtrs
Financing costs paid to issue common shares and warrants	`PaymentsOfStockIssuanceCosts`	-	USD	3 Qtrs
Proceeds from issuance of common shares	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Proceeds from issuance of common shares	`ProceedsFromIssuanceOfCommonStock`	$11.65M	USD	3 Qtrs
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$4.00K	USD	3 Qtrs
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$83.00K	USD	3 Qtrs
Repayment of capital lease obligation	`RepaymentsOfLongTermCapitalLeaseObligations`	-	USD	3 Qtrs
Repayment of capital lease obligation	`RepaymentsOfLongTermCapitalLeaseObligations`	$74.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$11.65M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$9.76M	USD	3 Qtrs
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$9.15M	USD	3 Qtrs
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.68M	USD	3 Qtrs
At beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$257.00K	USD	Point-in-time
At beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$9.41M	USD	Point-in-time
At beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$8.00M	USD	Point-in-time
At beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$12.67M	USD	Point-in-time
At end of the period	`CashAndCashEquivalentsAtCarryingValue`	$257.00K	USD	Point-in-time
At end of the period	`CashAndCashEquivalentsAtCarryingValue`	$9.41M	USD	Point-in-time
At end of the period	`CashAndCashEquivalentsAtCarryingValue`	$8.00M	USD	Point-in-time
At end of the period	`CashAndCashEquivalentsAtCarryingValue`	$12.67M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
NET LOSS	`NetIncomeLoss`	$-8.06M	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-2.42M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-5.20M	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-2.60M	USD	1 Quarter
Unrealized gain (loss) on BioTime shares held as available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-532.00K	USD	1 Quarter
Unrealized gain (loss) on BioTime shares held as available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-124.00K	USD	3 Qtrs
Unrealized gain (loss) on BioTime shares held as available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$799.00K	USD	1 Quarter
Unrealized gain (loss) on BioTime shares held as available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-620.00K	USD	3 Qtrs
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-5.82M	USD	3 Qtrs
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-2.95M	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-1.80M	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-8.19M	USD	3 Qtrs

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