10-Q Filing

INSIGHT MOLECULAR DIAGNOSTICS INC. CIK: 1642380 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001140361-17-042789`
Period End Date	20170930
Filing Date	20171114
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	ocx-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 44 Cash Flow Statement 62 Comprehensive Income 16

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
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`	$11.02M	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
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`	$1.00M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	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
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$457.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.48M	USD	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
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`	$988.00K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$807.00K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	28.74M	shares	Point-in-time
Equipment and furniture, net	`PropertyPlantAndEquipmentNet`	$833.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	31.42M	shares	Point-in-time
Equipment and furniture, net	`PropertyPlantAndEquipmentNet`	$688.00K	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$125.00K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	28.74M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	31.42M	shares	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$75.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$14.25M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$14.45M	USD	Point-in-time
Amount due to BioTime and affiliates	`DueToRelatedPartiesCurrent`	$2.10M	USD	Point-in-time
Amount due to BioTime and affiliates	`DueToRelatedPartiesCurrent`	$2.85M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.50M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.22M	USD	Point-in-time
Loan payable, current	`LoansPayableCurrent`	$733.00K	USD	Point-in-time
Loan payable, current	`LoansPayableCurrent`	-	USD	Point-in-time
Capital lease liability, current	`CapitalLeaseObligationsCurrent`	$304.00K	USD	Point-in-time
Capital lease liability, current	`CapitalLeaseObligationsCurrent`	$202.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.28M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.64M	USD	Point-in-time
Loan payable, net of issuance costs, noncurrent	`LongTermLoansPayable`	-	USD	Point-in-time
Loan payable, net of issuance costs, noncurrent	`LongTermLoansPayable`	$1.24M	USD	Point-in-time
Capital lease liability, noncurrent	`CapitalLeaseObligationsNoncurrent`	$321.00K	USD	Point-in-time
Capital lease liability, noncurrent	`CapitalLeaseObligationsNoncurrent`	$310.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$6.20M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$4.58M	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (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; 31,417 and 28,737 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	$45.82M	USD	Point-in-time
Common stock, no par value, 50,000 shares authorized; 31,417 and 28,737 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	$59.41M	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`	$-645.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-35.30M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-50.72M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$8.05M	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`	$14.25M	USD	Point-in-time

Income Statement 44 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`	$1.84M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$5.67M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$4.29M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.06M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$7.45M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.15M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$710.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$655.00K	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$156.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$1.84M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$14.96M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$6.83M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$8.05M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$2.58M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-14.96M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.58M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-8.05M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-6.83M	USD	1 Quarter
Loss on sale of available-for-sale securities and other expenses, net	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	$-309.00K	USD	3 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	3 Qtrs
Loss on sale of available-for-sale securities and other expenses, net	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	-	USD	1 Quarter
Interest expense, net	`OtherNonoperatingIncomeExpense`	$-19.00K	USD	3 Qtrs
Interest expense, net	`OtherNonoperatingIncomeExpense`	$-149.00K	USD	3 Qtrs
Interest expense, net	`OtherNonoperatingIncomeExpense`	$-71.00K	USD	1 Quarter
Interest expense, net	`OtherNonoperatingIncomeExpense`	$-13.00K	USD	1 Quarter
Total other expenses, net	`NonoperatingIncomeExpense`	$-13.00K	USD	1 Quarter
Total other expenses, net	`NonoperatingIncomeExpense`	$-19.00K	USD	3 Qtrs
Total other expenses, net	`NonoperatingIncomeExpense`	$-71.00K	USD	1 Quarter
Total other expenses, net	`NonoperatingIncomeExpense`	$-458.00K	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-2.60M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-6.91M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-8.06M	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-15.41M	USD	3 Qtrs
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`	$-0.52	USD	3 Qtrs
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.22	USD	1 Quarter
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.10	USD	1 Quarter
Weighted average shares outstanding: basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	25.80M	shares	3 Qtrs
Weighted average shares outstanding: basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	29.77M	shares	3 Qtrs
Weighted average shares outstanding: basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	30.94M	shares	1 Quarter
Weighted average shares outstanding: basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	26.56M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.60M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.91M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.06M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-15.41M	USD	3 Qtrs
Depreciation expense	`Depreciation`	$237.00K	USD	3 Qtrs
Depreciation expense	`Depreciation`	$93.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$48.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$102.00K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$181.00K	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
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$619.00K	USD	3 Qtrs
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$1.16M	USD	3 Qtrs
Loss on sale of available-for-sale securities, including selling commissions	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	$-309.00K	USD	3 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	3 Qtrs
Loss on sale of available-for-sale securities, including selling commissions	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	-	USD	1 Quarter
Warrants issued to certain shareholders as inducement to exercise of warrants	`ProceedsFromIssuanceOfWarrants`	-	USD	3 Qtrs
Warrants issued to certain shareholders as inducement to exercise of warrants	`ProceedsFromIssuanceOfWarrants`	$4.07M	USD	3 Qtrs
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$57.00K	USD	3 Qtrs
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	-	USD	3 Qtrs
Amount due to BioTime and affiliates	`IncreaseDecreaseInDueToRelatedParties`	$1.41M	USD	3 Qtrs
Amount due to BioTime and affiliates	`IncreaseDecreaseInDueToRelatedParties`	$-750.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-197.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$119.00K	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$227.00K	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$548.00K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.04M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.01M	USD	3 Qtrs
Net proceeds from sale of available-for-sale securities	`ProceedsFromSaleOfAvailableForSaleSecuritiesEquity`	$934.00K	USD	3 Qtrs
Net proceeds from sale of available-for-sale securities	`ProceedsFromSaleOfAvailableForSaleSecuritiesEquity`	-	USD	3 Qtrs
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$85.00K	USD	3 Qtrs
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.00K	USD	3 Qtrs
Security deposit	`SecurityDepositPayment`	$54.00K	USD	3 Qtrs
Security deposit	`SecurityDepositPayment`	-	USD	3 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$849.00K	USD	3 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-73.00K	USD	3 Qtrs
Proceeds from sale of common stock and warrants	`ProceedsFromIssuanceOfCommonSharesAndWarrants`	-	USD	3 Qtrs
Proceeds from sale of common stock and warrants	`ProceedsFromIssuanceOfCommonSharesAndWarrants`	$10.55M	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 exercise of options	`ProceedsFromStockOptionsExercised`	$465.00K	USD	3 Qtrs
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$83.00K	USD	3 Qtrs
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$7.77M	USD	3 Qtrs
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	-	USD	3 Qtrs
Proceeds from issuance of loan payable, net of financing costs	`ProceedsFromDebtNetOfIssuanceCosts`	-	USD	3 Qtrs
Proceeds from issuance of loan payable, net of financing costs	`ProceedsFromDebtNetOfIssuanceCosts`	$1.98M	USD	3 Qtrs
Repayment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$179.00K	USD	3 Qtrs
Repayment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$74.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.76M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.04M	USD	3 Qtrs
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$850.00K	USD	3 Qtrs
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.68M	USD	3 Qtrs
At beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$10.17M	USD	Point-in-time
At beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$11.02M	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`	$10.17M	USD	Point-in-time
At end of the period	`CashAndCashEquivalentsAtCarryingValue`	$11.02M	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 16 line items

Line Item	Tag	Value	Unit	Period
NET LOSS	`NetIncomeLoss`	$-2.60M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-6.91M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-8.06M	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-15.41M	USD	3 Qtrs
Realized loss on sale of available-for-sale securities	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	-	USD	1 Quarter
Realized loss on sale of available-for-sale securities	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$293.00K	USD	3 Qtrs
Realized loss on sale of available-for-sale securities	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	-	USD	3 Qtrs
Realized loss on sale of available-for-sale securities	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	-	USD	1 Quarter
Unrealized (loss) gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-110.00K	USD	1 Quarter
Unrealized (loss) gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-284.00K	USD	3 Qtrs
Unrealized (loss) gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-124.00K	USD	3 Qtrs
Unrealized (loss) gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$799.00K	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-15.41M	USD	3 Qtrs
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-8.19M	USD	3 Qtrs
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-1.80M	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-7.02M	USD	1 Quarter

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