10-Q Filing

INSIGHT MOLECULAR DIAGNOSTICS INC. CIK: 1642380 Q2 2019

Filing Information

Form Type	10-Q
Accession Number	`0001493152-19-012536`
Period End Date	20190630
Filing Date	20190814
Fiscal Year	2019
Fiscal Period	Q2
XBRL Instance	ocx-20190630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 48 Cash Flow Statement 62 Comprehensive Income 12

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`	$35.83M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.03M	USD	Point-in-time
Marketable equity securities	`EquitySecuritiesFvNi`	$428.00K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Marketable equity securities	`EquitySecuritiesFvNi`	$518.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$180.00K	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$720.00K	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$37.06M	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`	$8.64M	USD	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
Common stock, shares outstanding	`CommonStockSharesOutstanding`	51.97M	shares	Point-in-time
Machinery and equipment, net	`PropertyPlantAndEquipmentNet`	$413.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.66M	shares	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`	$189.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$9.52M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$37.67M	USD	Point-in-time
Amount due to BioTime and affiliates	`DueToRelatedPartiesCurrent`	$2.10M	USD	Point-in-time
Amount due to BioTime and affiliates	`DueToRelatedPartiesCurrent`	$5.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$556.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$166.00K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$2.49M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$2.11M	USD	Point-in-time
Loan payable, current, net of deferred financing costs	`LoansPayableCurrent`	$800.00K	USD	Point-in-time
Loan payable, current, net of deferred financing costs	`LoansPayableCurrent`	$769.00K	USD	Point-in-time
Financing lease liability, current	`FinanceLeaseLiabilityCurrent`	$245.00K	USD	Point-in-time
Financing lease liability, current	`FinanceLeaseLiabilityCurrent`	$385.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.56M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.06M	USD	Point-in-time
Loan payable, net of deferred financing costs, noncurrent	`LongTermLoansPayable`	-	USD	Point-in-time
Loan payable, net of deferred financing costs, noncurrent	`LongTermLoansPayable`	$347.00K	USD	Point-in-time
Financing lease liability, noncurrent	`FinanceLeaseLiabilityNoncurrent`	$187.00K	USD	Point-in-time
Financing lease liability, noncurrent	`FinanceLeaseLiabilityNoncurrent`	$100.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$6.09M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$4.16M	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 June 30, 2019 and December 31, 2018, respectively	`CommonStockValue`	$114.07M	USD	Point-in-time
Common stock, no par value, 85,000 shares authorized; 51,973 and 40,664 shares issued and outstanding at June 30, 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`	$-80.57M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-71.32M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$33.51M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$38.19M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$3.42M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$9.02M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$4.40M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$6.85M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$37.67M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$9.52M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$1.51M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.32M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.78M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$2.85M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.33M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.64M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.12M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$6.08M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$569.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$523.00K	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$1.23M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$318.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.46M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$9.46M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$4.23M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$8.13M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-4.23M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-8.13M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-5.46M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-9.46M	USD	2 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNet`	$167.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$-117.00K	USD	2 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNet`	$147.00K	USD	2 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNet`	$-56.00K	USD	1 Quarter
Unrealized gain (loss) on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$90.00K	USD	2 Qtrs
Unrealized gain (loss) on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$-223.00K	USD	1 Quarter
Unrealized gain (loss) on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$-32.00K	USD	2 Qtrs
Unrealized gain (loss) on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$-88.00K	USD	1 Quarter
Other expenses, net	`OtherNonoperatingIncomeExpense`	$-2.00K	USD	2 Qtrs
Other expenses, net	`OtherNonoperatingIncomeExpense`	$-25.00K	USD	2 Qtrs
Other expenses, net	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other expenses, net	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Total other income (expenses), net	`NonoperatingIncomeExpense`	$-151.00K	USD	2 Qtrs
Total other income (expenses), net	`NonoperatingIncomeExpense`	$212.00K	USD	2 Qtrs
Total other income (expenses), net	`NonoperatingIncomeExpense`	$79.00K	USD	1 Quarter
Total other income (expenses), net	`NonoperatingIncomeExpense`	$-279.00K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-5.38M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-4.50M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-9.25M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-8.28M	USD	2 Qtrs
Net loss per share: basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.24	USD	2 Qtrs
Net loss per share: basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.12	USD	1 Quarter
Net loss per share: basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.10	USD	1 Quarter
Net loss per share: basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.19	USD	2 Qtrs
Weighted average common shares outstanding: basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	38.71M	shares	1 Quarter
Weighted average common shares outstanding: basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	51.97M	shares	1 Quarter
Weighted average common shares outstanding: basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	49.32M	shares	2 Qtrs
Weighted average common shares outstanding: basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	35.21M	shares	2 Qtrs

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-5.38M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.50M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.25M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-8.28M	USD	2 Qtrs
Depreciation expense	`Depreciation`	$104.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$194.00K	USD	2 Qtrs
Depreciation expense	`Depreciation`	$84.00K	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`	-	USD	2 Qtrs
Amortization of prepaid maintenance	`AmortizationOfPrepaidMaintenance`	-	USD	2 Qtrs
Amortization of prepaid maintenance	`AmortizationOfPrepaidMaintenance`	$18.00K	USD	2 Qtrs
Impairment charge for intangible assets	`AssetImpairmentCharges`	$625.00K	USD	2 Qtrs
Impairment charge for intangible assets	`AssetImpairmentCharges`	-	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$735.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.39M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$389.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$701.00K	USD	1 Quarter
Unrealized (gain) loss on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$90.00K	USD	2 Qtrs
Unrealized (gain) loss on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$-223.00K	USD	1 Quarter
Unrealized (gain) loss on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$-32.00K	USD	2 Qtrs
Unrealized (gain) loss on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$-88.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$44.00K	USD	2 Qtrs
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$22.00K	USD	2 Qtrs
Other	`OtherOperatingActivitiesCashFlowStatement`	$26.00K	USD	2 Qtrs
Other	`OtherOperatingActivitiesCashFlowStatement`	$22.00K	USD	2 Qtrs
Amount due to BioTime and affiliates	`IncreaseDecreaseInDueToRelatedParties`	$-2.10M	USD	2 Qtrs
Amount due to BioTime and affiliates	`IncreaseDecreaseInDueToRelatedParties`	$1.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$214.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$540.00K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.00K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$767.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.56M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.71M	USD	2 Qtrs
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$18.00K	USD	2 Qtrs
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$22.00K	USD	2 Qtrs
Security deposit and other	`PaymentsToSecurityDepositAndOther`	-	USD	2 Qtrs
Security deposit and other	`PaymentsToSecurityDepositAndOther`	$-54.00K	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-22.00K	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$36.00K	USD	2 Qtrs
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$56.00K	USD	2 Qtrs
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$943.00K	USD	2 Qtrs
Proceeds from sale of common shares	`ProceedsFromIssuanceOfCommonStock`	$40.25M	USD	2 Qtrs
Proceeds from sale of common shares	`ProceedsFromIssuanceOfCommonStock`	$10.00M	USD	2 Qtrs
Financing costs to issue common shares	`PaymentsOfStockIssuanceCosts`	$3.25M	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`	$400.00K	USD	2 Qtrs
Repayment of financing lease obligations	`FinanceLeasePrincipalPayments`	$165.00K	USD	2 Qtrs
Repayment of financing lease obligations	`FinanceLeasePrincipalPayments`	$227.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.43M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$37.31M	USD	2 Qtrs
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.69M	USD	2 Qtrs
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$27.79M	USD	2 Qtrs
At beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.60M	USD	Point-in-time
At beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$10.29M	USD	Point-in-time
At beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$35.83M	USD	Point-in-time
At beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.03M	USD	Point-in-time
At end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.60M	USD	Point-in-time
At end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$10.29M	USD	Point-in-time
At end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$35.83M	USD	Point-in-time
At end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.03M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
NET LOSS	`NetIncomeLoss`	$-5.38M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-4.50M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-9.25M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-8.28M	USD	2 Qtrs
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	2 Qtrs
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	2 Qtrs
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-5.38M	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-4.50M	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-8.28M	USD	2 Qtrs
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-9.25M	USD	2 Qtrs

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