10-Q Filing

INSIGHT MOLECULAR DIAGNOSTICS INC. CIK: 1642380 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001493152-18-011807`
Period End Date	20180630
Filing Date	20180814
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	ocx-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 48 Cash Flow Statement 70 Comprehensive Income 16

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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.17M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.29M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.64M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.60M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Marketable equity securities	`EquitySecuritiesFvNi`	$760.00K	USD	Point-in-time
Marketable equity securities	`EquitySecuritiesFvNi`	$728.00K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	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
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$382.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.53M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$11.40M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	31.45M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	39.41M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	31.45M	shares	Point-in-time
Intangible assets, net (Note 3)	`FiniteLivedIntangibleAssetsNet`	$746.00K	USD	Point-in-time
Intangible assets, net (Note 3)	`FiniteLivedIntangibleAssetsNet`	-	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	39.41M	shares	Point-in-time
Machinery and equipment, net	`PropertyPlantAndEquipmentNet`	$615.00K	USD	Point-in-time
Machinery and equipment, net	`PropertyPlantAndEquipmentNet`	$822.00K	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$177.00K	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$120.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$12.20M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$10.22M	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`	$232.00K	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`	$1.04M	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`	$310.00K	USD	Point-in-time
Capital lease liability, current	`CapitalLeaseObligationsCurrent`	$338.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.45M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.49M	USD	Point-in-time
Loan payable, net of deferred financing costs, noncurrent	`LongTermLoansPayable`	$1.07M	USD	Point-in-time
Loan payable, net of deferred financing costs, noncurrent	`LongTermLoansPayable`	$713.00K	USD	Point-in-time
Capital lease liability, noncurrent	`CapitalLeaseObligationsNoncurrent`	$152.00K	USD	Point-in-time
Capital lease liability, noncurrent	`CapitalLeaseObligationsNoncurrent`	$289.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$5.35M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$5.81M	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; 39,408 and 31,452 shares issued and outstanding at June 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$70.69M	USD	Point-in-time
Common stock, no par value, 50,000 shares authorized; 39,408 and 31,452 shares issued and outstanding at June 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$59.97M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-888.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-54.68M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-63.85M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$6.85M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.40M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$12.20M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$10.22M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$2.32M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.00M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.78M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$3.83M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.33M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.12M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.11M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.16M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$569.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$1.23M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$1.13M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$477.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$8.13M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$8.12M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$4.23M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.59M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.59M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-8.13M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-4.23M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-8.12M	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-117.00K	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-56.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-65.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-79.00K	USD	2 Qtrs
Unrealized loss on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	1 Quarter
Unrealized loss on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$-223.00K	USD	1 Quarter
Unrealized loss on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	2 Qtrs
Unrealized loss on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$-32.00K	USD	2 Qtrs
Loss on sale of available-for-sale securities and other expenses, net	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	$-2.00K	USD	2 Qtrs
Loss on sale of available-for-sale securities and other expenses, net	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	$-150.00K	USD	1 Quarter
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
Total other expenses, net	`NonoperatingIncomeExpense`	$-151.00K	USD	2 Qtrs
Total other expenses, net	`NonoperatingIncomeExpense`	$-279.00K	USD	1 Quarter
Total other expenses, net	`NonoperatingIncomeExpense`	$-388.00K	USD	2 Qtrs
Total other expenses, net	`NonoperatingIncomeExpense`	$-215.00K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-8.28M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-3.80M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-8.51M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-4.50M	USD	1 Quarter
Net loss per share; basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.13	USD	1 Quarter
Net loss per share; basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.29	USD	2 Qtrs
Net loss per share; basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.12	USD	1 Quarter
Net loss per share; basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.24	USD	2 Qtrs
Weighted average common shares outstanding: basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	29.18M	shares	2 Qtrs
Weighted average common shares outstanding: basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	35.21M	shares	2 Qtrs
Weighted average common shares outstanding: basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	29.40M	shares	1 Quarter
Weighted average common shares outstanding: basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	38.71M	shares	1 Quarter

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-8.28M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-3.80M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.51M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-4.50M	USD	1 Quarter
Depreciation expense	`Depreciation`	$77.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$144.00K	USD	2 Qtrs
Depreciation expense	`Depreciation`	$104.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$207.00K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$121.00K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$121.00K	USD	2 Qtrs
Impairment charge for intangible assets	`ImpairmentOfIntangibleAssetsExcludingGoodwill`	$625.00K	USD	2 Qtrs
Impairment charge for intangible assets	`ImpairmentOfIntangibleAssetsExcludingGoodwill`	-	USD	2 Qtrs
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$735.00K	USD	2 Qtrs
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$346.00K	USD	1 Quarter
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$696.00K	USD	2 Qtrs
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$390.00K	USD	1 Quarter
Loss on sale of BioTime shares	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	$-2.00K	USD	2 Qtrs
Loss on sale of BioTime shares	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	$-150.00K	USD	1 Quarter
Loss on sale of BioTime shares	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	$-309.00K	USD	2 Qtrs
Loss on sale of BioTime shares	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	-	USD	1 Quarter
Unrealized loss on BioTime shares	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	1 Quarter
Unrealized loss on BioTime shares	`MarketableSecuritiesUnrealizedGainLoss`	$-223.00K	USD	1 Quarter
Unrealized loss on BioTime shares	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	2 Qtrs
Unrealized loss on BioTime shares	`MarketableSecuritiesUnrealizedGainLoss`	$-32.00K	USD	2 Qtrs
Warrants issued to certain shareholders as inducement of exercise of warrants	`ProceedsFromIssuanceOfWarrants`	$1.08M	USD	2 Qtrs
Warrants issued to certain shareholders as inducement of exercise of warrants	`ProceedsFromIssuanceOfWarrants`	-	USD	2 Qtrs
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$30.00K	USD	2 Qtrs
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$44.00K	USD	2 Qtrs
Other	`OtherOperatingActivitiesCashFlowStatement`	-	USD	2 Qtrs
Other	`OtherOperatingActivitiesCashFlowStatement`	$22.00K	USD	2 Qtrs
Amount due to BioTime and affiliates	`IncreaseDecreaseInDueToRelatedParties`	$1.00K	USD	2 Qtrs
Amount due to BioTime and affiliates	`IncreaseDecreaseInDueToRelatedParties`	$-313.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$194.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$214.00K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$61.00K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.57M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.71M	USD	2 Qtrs
Net proceeds from sale of BioTime shares	`ProceedsFromSaleOfAvailableForSaleSecuritiesEquity`	-	USD	2 Qtrs
Net proceeds from sale of BioTime shares	`ProceedsFromSaleOfAvailableForSaleSecuritiesEquity`	$934.00K	USD	2 Qtrs
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$22.00K	USD	2 Qtrs
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$55.00K	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$879.00K	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-22.00K	USD	2 Qtrs
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$56.00K	USD	2 Qtrs
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$257.00K	USD	2 Qtrs
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$2.03M	USD	2 Qtrs
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	-	USD	2 Qtrs
Proceeds from sale of common shares	`ProceedsFromIssuanceOfCommonStock`	$10.00M	USD	2 Qtrs
Proceeds from sale of common shares	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Proceeds from issuance of loan payable, net of financing costs	`ProceedsFromDebtNetOfIssuanceCosts`	$1.98M	USD	2 Qtrs
Proceeds from issuance of loan payable, net of financing costs	`ProceedsFromDebtNetOfIssuanceCosts`	-	USD	2 Qtrs
Financing costs to issue common shares	`PaymentsOfStockIssuanceCosts`	-	USD	2 Qtrs
Financing costs to issue common shares	`PaymentsOfStockIssuanceCosts`	$65.00K	USD	2 Qtrs
Repayment of loan payable	`RepaymentsOfDebt`	$400.00K	USD	2 Qtrs
Repayment of loan payable	`RepaymentsOfDebt`	-	USD	2 Qtrs
Repayment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$165.00K	USD	2 Qtrs
Repayment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$108.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.16M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.43M	USD	2 Qtrs
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.53M	USD	2 Qtrs
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.69M	USD	2 Qtrs
At beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$10.17M	USD	Point-in-time
At beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$10.29M	USD	Point-in-time
At beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$8.64M	USD	Point-in-time
At beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$7.60M	USD	Point-in-time
At end of the period	`CashAndCashEquivalentsAtCarryingValue`	$10.17M	USD	Point-in-time
At end of the period	`CashAndCashEquivalentsAtCarryingValue`	$10.29M	USD	Point-in-time
At end of the period	`CashAndCashEquivalentsAtCarryingValue`	$8.64M	USD	Point-in-time
At end of the period	`CashAndCashEquivalentsAtCarryingValue`	$7.60M	USD	Point-in-time

Comprehensive Income 16 line items

Line Item	Tag	Value	Unit	Period
NET LOSS	`NetIncomeLoss`	$-8.28M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-3.80M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-8.51M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-4.50M	USD	1 Quarter
Realized loss on sale of available-for-sale securities	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	-	USD	1 Quarter
Realized loss on sale of available-for-sale securities	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	-	USD	2 Qtrs
Realized loss on sale of available-for-sale securities	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$293.00K	USD	2 Qtrs
Realized loss on sale of available-for-sale securities	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$142.00K	USD	1 Quarter
Unrealized loss on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-97.00K	USD	1 Quarter
Unrealized loss on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	2 Qtrs
Unrealized loss on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Unrealized loss on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-174.00K	USD	2 Qtrs
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-8.39M	USD	2 Qtrs
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-4.50M	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-8.28M	USD	2 Qtrs
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-3.76M	USD	1 Quarter

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