10-Q Filing

INSIGHT MOLECULAR DIAGNOSTICS INC. CIK: 1642380 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001140361-17-032097`
Period End Date	20170630
Filing Date	20170814
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	ocx-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 44 Cash Flow Statement 54 Comprehensive Income 16

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.64M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.17M	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`	$4.00M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Available-for-sale securities, at fair value (Note 2)	`AvailableForSaleSecuritiesEquitySecuritiesCurrent`	$2.24M	USD	Point-in-time
Available-for-sale securities, at fair value (Note 2)	`AvailableForSaleSecuritiesEquitySecuritiesCurrent`	$1.11M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$512.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$285.00K	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
Total current assets	`AssetsCurrent`	$12.70M	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`	$10.27M	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
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$988.00K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$867.00K	USD	Point-in-time
Equipment and furniture, net	`PropertyPlantAndEquipmentNet`	$895.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	28.74M	shares	Point-in-time
Equipment and furniture, net	`PropertyPlantAndEquipmentNet`	$688.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	29.52M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	29.52M	shares	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$110.00K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	28.74M	shares	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$75.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$12.14M	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`	$2.54M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.22M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.32M	USD	Point-in-time
Loan payable, current	`LoansPayableCurrent`	-	USD	Point-in-time
Loan payable, current	`LoansPayableCurrent`	$533.00K	USD	Point-in-time
Capital lease liability, current	`CapitalLeaseObligationsCurrent`	$202.00K	USD	Point-in-time
Capital lease liability, current	`CapitalLeaseObligationsCurrent`	$297.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.69M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.28M	USD	Point-in-time
Loan payable, net of issuance costs, noncurrent	`LongTermLoansPayable`	$1.42M	USD	Point-in-time
Loan payable, net of issuance costs, noncurrent	`LongTermLoansPayable`	-	USD	Point-in-time
Capital lease liability, noncurrent	`CapitalLeaseObligationsNoncurrent`	$310.00K	USD	Point-in-time
Capital lease liability, noncurrent	`CapitalLeaseObligationsNoncurrent`	$400.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$6.50M	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; 29,520 and 28,737 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	$45.82M	USD	Point-in-time
Common stock, no par value, 50,000 shares authorized; 29,520 and 28,737 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	$49.98M	USD	Point-in-time
Accumulated other comprehensive loss on available-for-sale securities	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-654.00K	USD	Point-in-time
Accumulated other comprehensive loss on available-for-sale securities	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-535.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-43.81M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-35.30M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.64M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$9.86M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$14.45M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$12.14M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$2.88M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$3.83M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.20M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.00M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.11M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.08M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.16M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.07M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$499.00K	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$477.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$1.13M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$270.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.59M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.53M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.46M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$8.12M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-3.59M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.46M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.53M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-8.12M	USD	2 Qtrs
Loss on sale of available-for-sale securities and other expenses, net	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	$-309.00K	USD	2 Qtrs
Loss on sale of available-for-sale securities and other expenses, net	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	-	USD	1 Quarter
Loss on sale of available-for-sale securities and other expenses, net	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	-	USD	2 Qtrs
Loss on sale of available-for-sale securities and other expenses, net	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	$-150.00K	USD	1 Quarter
Interest expense, net	`OtherNonoperatingIncomeExpense`	$-79.00K	USD	2 Qtrs
Interest expense, net	`OtherNonoperatingIncomeExpense`	$-11.00K	USD	1 Quarter
Interest expense, net	`OtherNonoperatingIncomeExpense`	$-65.00K	USD	1 Quarter
Interest expense, net	`OtherNonoperatingIncomeExpense`	$-7.00K	USD	2 Qtrs
Total other expenses, net	`NonoperatingIncomeExpense`	$-7.00K	USD	2 Qtrs
Total other expenses, net	`NonoperatingIncomeExpense`	$-215.00K	USD	1 Quarter
Total other expenses, net	`NonoperatingIncomeExpense`	$-11.00K	USD	1 Quarter
Total other expenses, net	`NonoperatingIncomeExpense`	$-388.00K	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-5.47M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-3.80M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-2.54M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-8.51M	USD	2 Qtrs
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`	$-0.29	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	1 Quarter
Weighted average shares outstanding: basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	25.41M	shares	2 Qtrs
Weighted average shares outstanding: basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	25.43M	shares	1 Quarter
Weighted average shares outstanding: basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	29.40M	shares	1 Quarter
Weighted average shares outstanding: basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	29.18M	shares	2 Qtrs

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-5.47M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-3.80M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.54M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.51M	USD	2 Qtrs
Depreciation expense	`Depreciation`	$144.00K	USD	2 Qtrs
Depreciation expense	`Depreciation`	$54.00K	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`	$696.00K	USD	2 Qtrs
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$361.00K	USD	2 Qtrs
Loss on sale of available-for-sale securities, including selling commissions	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	$-309.00K	USD	2 Qtrs
Loss on sale of available-for-sale securities, including selling commissions	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	-	USD	1 Quarter
Loss on sale of available-for-sale securities, including selling commissions	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	-	USD	2 Qtrs
Loss on sale of available-for-sale securities, including selling commissions	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	$-150.00K	USD	1 Quarter
Warrants issued to certain shareholders as inducement of exercise of warrants	`WarrantsIssuedToCertainShareholdersAsInducementOfExerciseOfWarrants`	-	USD	2 Qtrs
Warrants issued to certain shareholders as inducement of exercise of warrants	`WarrantsIssuedToCertainShareholdersAsInducementOfExerciseOfWarrants`	$1.08M	USD	2 Qtrs
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$30.00K	USD	2 Qtrs
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	-	USD	2 Qtrs
Amount due to BioTime and affiliates	`IncreaseDecreaseInDueToRelatedParties`	$-313.00K	USD	2 Qtrs
Amount due to BioTime and affiliates	`IncreaseDecreaseInDueToRelatedParties`	$992.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$194.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-259.00K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$61.00K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-290.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.97M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.57M	USD	2 Qtrs
Net proceeds from sale of available-for-sale securities	`ProceedsFromSaleOfAvailableForSaleSecuritiesEquity`	-	USD	2 Qtrs
Net proceeds from sale of available-for-sale securities	`ProceedsFromSaleOfAvailableForSaleSecuritiesEquity`	$934.00K	USD	2 Qtrs
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$55.00K	USD	2 Qtrs
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.00K	USD	2 Qtrs
Security deposit	`SecurityDepositReceived`	$-54.00K	USD	2 Qtrs
Security deposit	`SecurityDepositReceived`	-	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-64.00K	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$879.00K	USD	2 Qtrs
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$82.00K	USD	2 Qtrs
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$257.00K	USD	2 Qtrs
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	-	USD	2 Qtrs
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$2.03M	USD	2 Qtrs
Proceeds from issuance of loan payable, net of financing costs	`ProceedsFromDebtNetOfIssuanceCosts`	-	USD	2 Qtrs
Proceeds from issuance of loan payable, net of financing costs	`ProceedsFromDebtNetOfIssuanceCosts`	$1.98M	USD	2 Qtrs
Repayment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$108.00K	USD	2 Qtrs
Repayment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$40.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.16M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$42.00K	USD	2 Qtrs
NET DECREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.53M	USD	2 Qtrs
NET DECREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.00M	USD	2 Qtrs
At beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$8.64M	USD	Point-in-time
At beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$10.17M	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`	$8.64M	USD	Point-in-time
At end of the period	`CashAndCashEquivalentsAtCarryingValue`	$10.17M	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 16 line items

Line Item	Tag	Value	Unit	Period
NET LOSS	`NetIncomeLoss`	$-5.47M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-3.80M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-2.54M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-8.51M	USD	2 Qtrs
Realized loss on sale of available-for-sale securities	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	-	USD	2 Qtrs
Realized loss on sale of available-for-sale securities	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	-	USD	1 Quarter
Realized loss on sale of available-for-sale securities	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$142.00K	USD	1 Quarter
Realized loss on sale of available-for-sale securities	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$293.00K	USD	2 Qtrs
Unrealized loss available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-174.00K	USD	2 Qtrs
Unrealized loss available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-97.00K	USD	1 Quarter
Unrealized loss available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-161.00K	USD	1 Quarter
Unrealized loss available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-923.00K	USD	2 Qtrs
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-3.76M	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-2.70M	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-6.39M	USD	2 Qtrs
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-8.39M	USD	2 Qtrs

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