10-Q Filing

INSIGHT MOLECULAR DIAGNOSTICS INC. CIK: 1642380 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001493152-18-007134`
Period End Date	20180331
Filing Date	20180515
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	ocx-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 24 Cash Flow Statement 54 Comprehensive Income 8

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, no par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred stock, no par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.61M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.60M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.35M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.17M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, shares outstansing	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Marketable equity securities	`MarketableSecuritiesEquitySecurities`	$950.00K	USD	Point-in-time
Preferred stock, shares outstansing	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Marketable equity securities	`MarketableSecuritiesEquitySecurities`	$760.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$492.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$168.00K	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$14.05M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$8.53M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	37.82M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	31.45M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	37.82M	shares	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$686.00K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$746.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	31.45M	shares	Point-in-time
Equipment and furniture, net	`PropertyPlantAndEquipmentNet`	$822.00K	USD	Point-in-time
Equipment and furniture, net	`PropertyPlantAndEquipmentNet`	$722.00K	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$120.00K	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$120.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$10.22M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$15.58M	USD	Point-in-time
Amount due to BioTime and affiliates	`DueToRelatedPartiesCurrent`	$2.10M	USD	Point-in-time
Amount due to BioTime and affiliates	`DueToRelatedPartiesCurrent`	$2.10M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$307.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$175.00K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$1.04M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$1.91M	USD	Point-in-time
Loan payable, current	`LoansPayableCurrent`	$800.00K	USD	Point-in-time
Loan payable, current	`LoansPayableCurrent`	$800.00K	USD	Point-in-time
Capital lease liability, current	`CapitalLeaseObligationsCurrent`	$346.00K	USD	Point-in-time
Capital lease liability, current	`CapitalLeaseObligationsCurrent`	$338.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.47M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.45M	USD	Point-in-time
Loan payable, net of deferred financing costs, noncurrent	`LongTermLoansPayable`	$893.00K	USD	Point-in-time
Loan payable, net of deferred financing costs, noncurrent	`LongTermLoansPayable`	$1.07M	USD	Point-in-time
Capital lease liability, noncurrent	`CapitalLeaseObligationsNoncurrent`	$289.00K	USD	Point-in-time
Capital lease liability, noncurrent	`CapitalLeaseObligationsNoncurrent`	$200.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$5.81M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$6.56M	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; 37,818 and 31,452 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$68.37M	USD	Point-in-time
Common stock, no par value, 50,000 shares authorized; 37,818 and 31,452 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$59.97M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-888.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-54.68M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-59.34M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$9.02M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.40M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$10.22M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$15.58M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$1.46M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.83M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.79M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.04M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$658.00K	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`	$3.91M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.53M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.91M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-13.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-60.00K	USD	1 Quarter
Unrealized gain on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$190.00K	USD	1 Quarter
Unrealized gain on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-2.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-159.00K	USD	1 Quarter
Total other income (expenses), net	`NonoperatingIncomeExpense`	$-172.00K	USD	1 Quarter
Total other income (expenses), net	`NonoperatingIncomeExpense`	$128.00K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-4.70M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-3.78M	USD	1 Quarter
Net loss per share: basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.12	USD	1 Quarter
Net loss per share: basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.16	USD	1 Quarter
Weighted average common shares outstanding: basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	28.96M	shares	1 Quarter
Weighted average common shares outstanding: basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	31.68M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.70M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.78M	USD	1 Quarter
Depreciation expense	`Depreciation`	$67.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$103.00K	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`	$346.00K	USD	1 Quarter
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$350.00K	USD	1 Quarter
Loss on sale of BioTime shares	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	-	USD	1 Quarter
Loss on sale of BioTime shares	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	$-159.00K	USD	1 Quarter
Unrealized gain on BioTime shares	`MarketableSecuritiesUnrealizedGainLoss`	$190.00K	USD	1 Quarter
Unrealized gain on BioTime shares	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	1 Quarter
Warrants issued to certain shareholders as inducement of exercise of warrants	`ProceedsFromIssuanceOfWarrants`	-	USD	1 Quarter
Warrants issued to certain shareholders as inducement of exercise of warrants	`ProceedsFromIssuanceOfWarrants`	$1.08M	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$3.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$23.00K	USD	1 Quarter
Amount due to BioTime and affiliates	`IncreaseDecreaseInDueToRelatedParties`	$-244.00K	USD	1 Quarter
Amount due to BioTime and affiliates	`IncreaseDecreaseInDueToRelatedParties`	$7.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$166.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$324.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$100.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$999.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.29M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.75M	USD	1 Quarter
Net proceeds from sale of BioTime shares	`ProceedsFromSaleOfAvailableForSaleSecuritiesEquity`	-	USD	1 Quarter
Net proceeds from sale of BioTime shares	`ProceedsFromSaleOfAvailableForSaleSecuritiesEquity`	$502.00K	USD	1 Quarter
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$16.00K	USD	1 Quarter
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$486.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.00K	USD	1 Quarter
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$51.00K	USD	1 Quarter
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$16.00K	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 sale of common shares	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from sale of common shares	`ProceedsFromIssuanceOfCommonStock`	$8.00M	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 loan payable	`RepaymentsOfDebt`	-	USD	1 Quarter
Repayment of loan payable	`RepaymentsOfDebt`	$200.00K	USD	1 Quarter
Repayment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$81.00K	USD	1 Quarter
Repayment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$47.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$7.77M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.98M	USD	1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.01M	USD	1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.18M	USD	1 Quarter
At beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$12.61M	USD	Point-in-time
At beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$7.60M	USD	Point-in-time
At beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$11.35M	USD	Point-in-time
At beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$10.17M	USD	Point-in-time
At end of the period	`CashAndCashEquivalentsAtCarryingValue`	$12.61M	USD	Point-in-time
At end of the period	`CashAndCashEquivalentsAtCarryingValue`	$7.60M	USD	Point-in-time
At end of the period	`CashAndCashEquivalentsAtCarryingValue`	$11.35M	USD	Point-in-time
At end of the period	`CashAndCashEquivalentsAtCarryingValue`	$10.17M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
NET LOSS	`NetIncomeLoss`	$-4.70M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-3.78M	USD	1 Quarter
Realized loss on sale of available-for-sale securities	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$155.00K	USD	1 Quarter
Realized loss on sale of available-for-sale securities	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	-	USD	1 Quarter
Unrealized loss on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Unrealized loss on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-82.00K	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-4.63M	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-3.78M	USD	1 Quarter

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