10-Q Filing

INSIGHT MOLECULAR DIAGNOSTICS INC. CIK: 1642380 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001140361-17-017245`
Period End Date	20170331
Filing Date	20170428
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	ocx-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 22 Cash Flow Statement 48 Comprehensive Income 8

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.86M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.17M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.35M	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`	$1.65M	USD	Point-in-time
BioTime shares held as available-for-sale securities, at fair value	`AvailableForSaleSecuritiesEquitySecuritiesCurrent`	$2.24M	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
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$451.00K	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$285.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$13.45M	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`	$12.70M	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`	$927.00K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$988.00K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Equipment and furniture, net	`PropertyPlantAndEquipmentNet`	$688.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	28.74M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	29.37M	shares	Point-in-time
Equipment and furniture, net	`PropertyPlantAndEquipmentNet`	$636.00K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	29.37M	shares	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$75.00K	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$159.00K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	28.74M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$15.17M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$14.45M	USD	Point-in-time
Amount due to BioTime and affiliates	`DueToRelatedPartiesCurrent`	$2.85M	USD	Point-in-time
Amount due to BioTime and affiliates	`DueToRelatedPartiesCurrent`	$2.61M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$422.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$211.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$797.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.19M	USD	Point-in-time
Loan payable, current portion	`LoansPayableCurrent`	-	USD	Point-in-time
Loan payable, current portion	`LoansPayableCurrent`	$333.00K	USD	Point-in-time
Capital lease liability, current portion	`CapitalLeaseObligationsCurrent`	$202.00K	USD	Point-in-time
Capital lease liability, current portion	`CapitalLeaseObligationsCurrent`	$202.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.28M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.55M	USD	Point-in-time
Loan payable, net of issuance costs, noncurrent portion	`LongTermLoansPayable`	-	USD	Point-in-time
Loan payable, net of issuance costs, noncurrent portion	`LongTermLoansPayable`	$1.59M	USD	Point-in-time
Capital lease liability, noncurrent portion	`CapitalLeaseObligationsNoncurrent`	$263.00K	USD	Point-in-time
Capital lease liability, noncurrent portion	`CapitalLeaseObligationsNoncurrent`	$310.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$6.40M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$4.58M	USD	Point-in-time
Commitments and contingencies (see Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (see Note 9)	`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; 29,367 and 28,737 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$45.82M	USD	Point-in-time
Common stock, no par value, 50,000 shares authorized; 29,367 and 28,737 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$49.36M	USD	Point-in-time
Accumulated other comprehensive loss on available-for-sale securities	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-581.00K	USD	Point-in-time
Accumulated other comprehensive loss on available-for-sale securities	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-654.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-40.01M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-35.30M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$8.77M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$9.86M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$15.17M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$14.45M	USD	Point-in-time

Income Statement 22 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$1.69M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.83M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.04M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.01M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$228.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$655.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.53M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.93M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.53M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.93M	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$4.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$-13.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-159.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Total other income (expenses), net	`NonoperatingIncomeExpense`	$4.00K	USD	1 Quarter
Total other income (expenses), net	`NonoperatingIncomeExpense`	$-172.00K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-2.93M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-4.70M	USD	1 Quarter
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`	$-0.16	USD	1 Quarter
Weighted average shares outstanding: basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	28.96M	shares	1 Quarter
Weighted average shares outstanding: basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	25.40M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.93M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.70M	USD	1 Quarter
Depreciation expense	`Depreciation`	$10.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$67.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$61.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$61.00K	USD	1 Quarter
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$125.00K	USD	1 Quarter
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$350.00K	USD	1 Quarter
Loss on sale of BioTime shares	`GainLossOnSaleOfEquityInvestments`	$-159.00K	USD	1 Quarter
Loss on sale of BioTime shares	`GainLossOnSaleOfEquityInvestments`	-	USD	1 Quarter
Warrants issued to certain shareholders as inducement of exercise of warrants	`WarrantsIssuedToCertainShareholdersAsInducementOfExerciseOfWarrants`	$1.08M	USD	1 Quarter
Warrants issued to certain shareholders as inducement of exercise of warrants	`WarrantsIssuedToCertainShareholdersAsInducementOfExerciseOfWarrants`	-	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$3.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	-	USD	1 Quarter
Amount due to BioTime and affiliates	`IncreaseDecreaseInDueToRelatedParties`	$-244.00K	USD	1 Quarter
Amount due to BioTime and affiliates	`IncreaseDecreaseInDueToRelatedParties`	$624.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-126.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$166.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-185.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$100.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-3.29M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.17M	USD	1 Quarter
Net proceeds from sale of BioTime shares	`ProceedsFromSaleOfAvailableForSaleSecuritiesEquity`	$502.00K	USD	1 Quarter
Net proceeds from sale of BioTime shares	`ProceedsFromSaleOfAvailableForSaleSecuritiesEquity`	-	USD	1 Quarter
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$16.00K	USD	1 Quarter
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$15.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$486.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-15.00K	USD	1 Quarter
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$16.00K	USD	1 Quarter
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$42.00K	USD	1 Quarter
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$2.03M	USD	1 Quarter
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	-	USD	1 Quarter
Proceeds from issuance of loan payable, net of financing costs	`ProceedsFromDebtNetOfIssuanceCosts`	$1.98M	USD	1 Quarter
Proceeds from issuance of loan payable, net of financing costs	`ProceedsFromDebtNetOfIssuanceCosts`	-	USD	1 Quarter
Repayment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$47.00K	USD	1 Quarter
Repayment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$42.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$3.98M	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.18M	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.14M	USD	1 Quarter
At beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$5.86M	USD	Point-in-time
At beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$8.00M	USD	Point-in-time
At beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$10.17M	USD	Point-in-time
At beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$11.35M	USD	Point-in-time
At end of the period	`CashAndCashEquivalentsAtCarryingValue`	$5.86M	USD	Point-in-time
At end of the period	`CashAndCashEquivalentsAtCarryingValue`	$8.00M	USD	Point-in-time
At end of the period	`CashAndCashEquivalentsAtCarryingValue`	$10.17M	USD	Point-in-time
At end of the period	`CashAndCashEquivalentsAtCarryingValue`	$11.35M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
NET LOSS	`NetIncomeLoss`	$-2.93M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-4.70M	USD	1 Quarter
Realized loss on sale of BioTime shares	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$155.00K	USD	1 Quarter
Realized loss on sale of BioTime shares	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	-	USD	1 Quarter
Unrealized (loss) gain on BioTime shares held as available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-762.00K	USD	1 Quarter
Unrealized (loss) gain on BioTime shares held as available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-82.00K	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-4.63M	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-3.69M	USD	1 Quarter

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