10-Q Filing

INSIGHT MOLECULAR DIAGNOSTICS INC. CIK: 1642380 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001493152-19-007082`
Period End Date	20190331
Filing Date	20190514
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	ocx-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 24 Cash Flow Statement 52 Comprehensive Income 4

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`	$39.26M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.03M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	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`	$606.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.13M	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`	$180.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.64M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$40.99M	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
Common stock, shares issued	`CommonStockSharesIssued`	51.97M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.66M	shares	Point-in-time
Machinery and equipment, net	`PropertyPlantAndEquipmentNet`	$614.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.66M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	51.97M	shares	Point-in-time
Machinery and equipment, net	`PropertyPlantAndEquipmentNet`	$486.00K	USD	Point-in-time
Deposits and other noncurrent assets	`DepositsAndOtherNoncurrentAssets`	$198.00K	USD	Point-in-time
Deposits and other noncurrent assets	`DepositsAndOtherNoncurrentAssets`	$262.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$9.52M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$41.68M	USD	Point-in-time
Amount due to BioTime and affiliates	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Amount due to BioTime and affiliates	`DueToRelatedPartiesCurrent`	$2.10M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$166.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$136.00K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$1.96M	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
Financing lease liability, current	`FinanceLeaseLiabilityCurrent`	$385.00K	USD	Point-in-time
Financing lease liability, current	`FinanceLeaseLiabilityCurrent`	$304.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.56M	USD	Point-in-time
Loan payable, net of deferred financing costs, noncurrent	`LongTermLoansPayable`	$347.00K	USD	Point-in-time
Loan payable, net of deferred financing costs, noncurrent	`LongTermLoansPayable`	$159.00K	USD	Point-in-time
Financing lease liability, noncurrent	`FinanceLeaseLiabilityNoncurrent`	$134.00K	USD	Point-in-time
Financing lease liability, noncurrent	`FinanceLeaseLiabilityNoncurrent`	$187.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.49M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$6.09M	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; 51,973 and 40,664 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$113.37M	USD	Point-in-time
Common stock, no par value, 85,000 shares authorized; 51,973 and 40,664 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$74.74M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-75.18M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-71.32M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.42M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$38.19M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.40M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$9.02M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$9.52M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$41.68M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$1.34M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.46M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.45M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.79M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$658.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$205.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.91M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.00M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.91M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.00M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-60.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-19.00K	USD	1 Quarter
Unrealized gain on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$178.00K	USD	1 Quarter
Unrealized gain on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$190.00K	USD	1 Quarter
Other expenses, net	`OtherNonoperatingIncomeExpense`	$-26.00K	USD	1 Quarter
Other expenses, net	`OtherNonoperatingIncomeExpense`	$-2.00K	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$133.00K	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$128.00K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-3.78M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-3.86M	USD	1 Quarter
Net loss per share: basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	1 Quarter
Net loss per share: basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.12	USD	1 Quarter
Weighted average common shares outstanding: basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	31.68M	shares	1 Quarter
Weighted average common shares outstanding: basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	46.65M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.78M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.86M	USD	1 Quarter
Depreciation expense	`Depreciation`	$110.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$103.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	-	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$61.00K	USD	1 Quarter
Amortization of prepaid maintenance	`AmortizationOfPrepaidMaintenance`	-	USD	1 Quarter
Amortization of prepaid maintenance	`AmortizationOfPrepaidMaintenance`	$9.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$686.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$347.00K	USD	1 Quarter
Unrealized gain on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$178.00K	USD	1 Quarter
Unrealized gain on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$190.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$12.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$22.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$26.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	-	USD	1 Quarter
Amount due to BioTime and affiliates	`IncreaseDecreaseInDueToRelatedParties`	$-2.10M	USD	1 Quarter
Amount due to BioTime and affiliates	`IncreaseDecreaseInDueToRelatedParties`	$7.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$950.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$324.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$999.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-468.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.72M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.75M	USD	1 Quarter
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.00K	USD	1 Quarter
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.00K	USD	1 Quarter
Security deposit and other	`PaymentsToSecurityDepositAndOther`	$-54.00K	USD	1 Quarter
Security deposit and other	`PaymentsToSecurityDepositAndOther`	-	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$47.00K	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`	$943.00K	USD	1 Quarter
Proceeds from sale of common shares	`ProceedsFromIssuanceOfCommonStock`	$40.25M	USD	1 Quarter
Proceeds from sale of common shares	`ProceedsFromIssuanceOfCommonStock`	$8.00M	USD	1 Quarter
Financing costs to issue common shares	`PaymentsOfStockIssuanceCosts`	$2.96M	USD	1 Quarter
Financing costs to issue common shares	`PaymentsOfStockIssuanceCosts`	-	USD	1 Quarter
Repayment of loan payable	`RepaymentsOfDebt`	$200.00K	USD	1 Quarter
Repayment of loan payable	`RepaymentsOfDebt`	$200.00K	USD	1 Quarter
Repayment of financing lease obligations	`FinanceLeasePrincipalPayments`	$134.00K	USD	1 Quarter
Repayment of financing lease obligations	`FinanceLeasePrincipalPayments`	$81.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$7.77M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$37.89M	USD	1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$31.22M	USD	1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.01M	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`	$39.26M	USD	Point-in-time
At beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$8.03M	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`	$39.26M	USD	Point-in-time
At end of the period	`CashAndCashEquivalentsAtCarryingValue`	$8.03M	USD	Point-in-time

Comprehensive Income 4 line items

Line Item	Tag	Value	Unit	Period
NET LOSS	`NetIncomeLoss`	$-3.78M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-3.86M	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-3.86M	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.