10-K Filing

INSIGHT MOLECULAR DIAGNOSTICS INC. CIK: 1642380 FY 2018

Filing Information

Form Type	10-K
Accession Number	`0001493152-19-004549`
Period End Date	20181231
Filing Date	20190401
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	ocx-20181231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 24 Cash Flow Statement 72 Stockholders Equity 20 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`	$7.60M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.03M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.17M	USD	Point-in-time
Marketable equity securities	`EquitySecuritiesFvNi`	$428.00K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Marketable equity securities	`EquitySecuritiesFvNi`	$760.00K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$180.00K	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
Total current assets	`AssetsCurrent`	$8.64M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	85.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	85.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$8.53M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	31.45M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.66M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.66M	shares	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	-	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	31.45M	shares	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$746.00K	USD	Point-in-time
Machinery and equipment, net	`PropertyPlantAndEquipmentNet`	$822.00K	USD	Point-in-time
Machinery and equipment, net	`PropertyPlantAndEquipmentNet`	$614.00K	USD	Point-in-time
Deposits and other noncurrent assets	`DepositsAndOtherNoncurrentAssets`	$262.00K	USD	Point-in-time
Deposits and other noncurrent assets	`DepositsAndOtherNoncurrentAssets`	$120.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$10.22M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$9.52M	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`	$175.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$166.00K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$1.04M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$2.11M	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`	$338.00K	USD	Point-in-time
Capital lease liability, current	`CapitalLeaseObligationsCurrent`	$385.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.45M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.56M	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`	$347.00K	USD	Point-in-time
Capital lease liability, noncurrent	`CapitalLeaseObligationsNoncurrent`	$187.00K	USD	Point-in-time
Capital lease liability, noncurrent	`CapitalLeaseObligationsNoncurrent`	$289.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$6.09M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$5.81M	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, 85,000 shares authorized; 40,664 and 31,452 shares issued and outstanding at December 31, 2018 and 2017, respectively	`CommonStockValue`	$74.74M	USD	Point-in-time
Common stock, no par value, 85,000 shares authorized; 40,664 and 31,452 shares issued and outstanding at December 31, 2018 and 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`	$-71.32M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-54.68M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.42M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$9.86M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.40M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$9.52M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$10.22M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$6.51M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$7.17M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$9.23M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$7.01M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$2.44M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$1.68M	USD	Annual
Total operating expenses	`OperatingExpenses`	$15.20M	USD	Annual
Total operating expenses	`OperatingExpenses`	$18.85M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-18.85M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-15.20M	USD	Annual
Interest expense, net	`InterestIncomeExpenseNet`	$-217.00K	USD	Annual
Interest expense, net	`InterestIncomeExpenseNet`	$-216.00K	USD	Annual
Unrealized loss on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	Annual
Unrealized loss on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$-427.00K	USD	Annual
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-309.00K	USD	Annual
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$91.00K	USD	Annual
Total other expenses, net	`NonoperatingIncomeExpense`	$-552.00K	USD	Annual
Total other expenses, net	`NonoperatingIncomeExpense`	$-526.00K	USD	Annual
NET LOSS	`NetIncomeLoss`	$-15.75M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-19.38M	USD	Annual
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.64	USD	Annual
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.42	USD	Annual
Weighted average shares outstanding: basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	37.85M	shares	Annual
Weighted average shares outstanding: basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	30.20M	shares	Annual

Cash Flow Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-15.75M	USD	Annual
Net loss	`NetIncomeLoss`	$-19.38M	USD	Annual
Depreciation expense	`Depreciation`	$338.00K	USD	Annual
Depreciation expense	`Depreciation`	$438.00K	USD	Annual
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$242.00K	USD	Annual
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$121.00K	USD	Annual
Amortization of prepaid maintenance	`AmortizationOfPrepaidMaintenance`	-	USD	Annual
Amortization of prepaid maintenance	`AmortizationOfPrepaidMaintenance`	$18.00K	USD	Annual
Impairment charge for intangible assets	`ImpairmentOfIntangibleAssetsExcludingGoodwill`	$625.00K	USD	Annual
Impairment charge for intangible assets	`ImpairmentOfIntangibleAssetsExcludingGoodwill`	-	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.48M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.63M	USD	Annual
Loss on sale of BioTime shares	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	-	USD	Annual
Loss on sale of BioTime shares	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	$-309.00K	USD	Annual
Dividend income from AgeX Therapeutics common stock received as a dividend-in-kind	`DividendIncomeOperating`	-	USD	Annual
Dividend income from AgeX Therapeutics common stock received as a dividend-in-kind	`DividendIncomeOperating`	$96.00K	USD	Annual
Unrealized loss on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	Annual
Unrealized loss on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$-427.00K	USD	Annual
Warrants issued to certain shareholders as inducement to exercise of warrants	`ProceedsFromIssuanceOfWarrants`	-	USD	Annual
Warrants issued to certain shareholders as inducement to exercise of warrants	`ProceedsFromIssuanceOfWarrants`	$4.07M	USD	Annual
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$83.00K	USD	Annual
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$77.00K	USD	Annual
Other	`OtherOperatingActivitiesCashFlowStatement`	-	USD	Annual
Other	`OtherOperatingActivitiesCashFlowStatement`	$23.00K	USD	Annual
Amount due to BioTime and affiliates	`IncreaseDecreaseInDueToRelatedParties`	$2.00K	USD	Annual
Amount due to BioTime and affiliates	`IncreaseDecreaseInDueToRelatedParties`	$-753.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$11.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-115.00K	USD	Annual
Accounts payable and accrued liabilities;	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-48.00K	USD	Annual
Accounts payable and accrued liabilities;	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.00M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-11.65M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-13.38M	USD	Annual
Net proceeds from sale of BioTime shares	`ProceedsFromSaleOfAvailableForSaleSecuritiesEquity`	-	USD	Annual
Net proceeds from sale of BioTime shares	`ProceedsFromSaleOfAvailableForSaleSecuritiesEquity`	$934.00K	USD	Annual
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$91.00K	USD	Annual
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$31.00K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-31.00K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$843.00K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$58.00K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$610.00K	USD	Annual
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$7.77M	USD	Annual
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	-	USD	Annual
Proceeds from sale of common shares	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Proceeds from sale of common shares	`ProceedsFromIssuanceOfCommonStock`	$10.00M	USD	Annual
Financing costs to issue common shares	`PaymentsOfStockIssuanceCosts`	-	USD	Annual
Financing costs to issue common shares	`PaymentsOfStockIssuanceCosts`	$65.00K	USD	Annual
Proceeds from sale of common shares and warrants	`ProceedsFromSaleOfCommonSharesAndWarrants`	$3.59M	USD	Annual
Proceeds from sale of common shares and warrants	`ProceedsFromSaleOfCommonSharesAndWarrants`	-	USD	Annual
Financing costs to issue common shares and warrants	`FinancingCostsToIssueCommonSharesAndWarrants`	$-290.00K	USD	Annual
Financing costs to issue common shares and warrants	`FinancingCostsToIssueCommonSharesAndWarrants`	-	USD	Annual
Proceeds from issuance of loan payable, net of financing costs	`ProceedsFromDebtNetOfIssuanceCosts`	$1.98M	USD	Annual
Proceeds from issuance of loan payable, net of financing costs	`ProceedsFromDebtNetOfIssuanceCosts`	-	USD	Annual
Repayment of loan payable	`RepaymentsOfDebt`	$800.00K	USD	Annual
Repayment of loan payable	`RepaymentsOfDebt`	$133.00K	USD	Annual
Repayment of capital lease obligation	`RepaymentsOfLongTermCapitalLeaseObligations`	$381.00K	USD	Annual
Repayment of capital lease obligation	`RepaymentsOfLongTermCapitalLeaseObligations`	$265.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$12.11M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.97M	USD	Annual
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$434.00K	USD	Annual
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.57M	USD	Annual
At beginning of the year	`CashAndCashEquivalentsAtCarryingValue`	$7.60M	USD	Point-in-time
At beginning of the year	`CashAndCashEquivalentsAtCarryingValue`	$8.03M	USD	Point-in-time
At beginning of the year	`CashAndCashEquivalentsAtCarryingValue`	$10.17M	USD	Point-in-time
At end of the year	`CashAndCashEquivalentsAtCarryingValue`	$7.60M	USD	Point-in-time
At end of the year	`CashAndCashEquivalentsAtCarryingValue`	$8.03M	USD	Point-in-time
At end of the year	`CashAndCashEquivalentsAtCarryingValue`	$10.17M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$130.00K	USD	Annual
Cash paid for interest	`InterestPaidNet`	$142.00K	USD	Annual
Equipment purchased under capital leases	`FairValueOfAssetsAcquired`	$209.00K	USD	Annual
Equipment purchased under capital leases	`FairValueOfAssetsAcquired`	$381.00K	USD	Annual
Debt issuance costs	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	$196.00K	USD	Annual
Debt issuance costs	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	-	USD	Annual

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$3.42M	USD	Point-in-time
Balance	`StockholdersEquity`	$9.86M	USD	Point-in-time
Balance	`StockholdersEquity`	$4.40M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-15.75M	USD	Annual
Net loss	`NetIncomeLoss`	$-19.38M	USD	Annual
Unrealized loss on BioTime shares held as available-for-sale securities	`AvailableForSaleSecuritiesGrossUnrealizedLoss`	$527.00K	USD	Annual
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$1.48M	USD	Annual
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$1.63M	USD	Annual
Issuance of common stock upon exercise of 2016 warrants	`IssuanceOfCommonStockUponExerciseOfWarrants`	$7.77M	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$58.00K	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$610.00K	USD	Annual
Issuance of warrants for inducement to exercise 2016 warrants	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	$4.07M	USD	Annual
Issuance of warrants to Silicon Valley Bank	`StockIssuedDuringPeriodIssuanceOfWarrants`	$62.00K	USD	Annual
Transfer of realized loss on sale of BioTime shares	`TransferOfRealizedLossOnSaleOfShares`	$293.00K	USD	Annual
Cumulative-effect adjustment for adoption of ASU 2016-01 on January 1, 2018	`NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfAdoptionQuantification`	-	USD	Annual
Sale of common shares and warrants	`StockIssuedDuringPeriodValueNewIssues`	$13.59M	USD	Annual
Financing costs paid to issue common shares and warrants	`StockIssuedDuringPeriodValueOther`	$-355.00K	USD	Annual
Balance	`StockholdersEquity`	$3.42M	USD	Point-in-time
Balance	`StockholdersEquity`	$9.86M	USD	Point-in-time
Balance	`StockholdersEquity`	$4.40M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
NET LOSS	`NetIncomeLoss`	$-15.75M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-19.38M	USD	Annual
Realized loss on sale of available-for-sale securities	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$293.00K	USD	Annual
Realized loss on sale of available-for-sale securities	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	-	USD	Annual
Unrealized loss on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	Annual
Unrealized loss on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-527.00K	USD	Annual
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-15.75M	USD	Annual
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-19.61M	USD	Annual

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