10-Q Filing

INSIGHT MOLECULAR DIAGNOSTICS INC. CIK: 1642380 Q3 2019

Filing Information

Form Type	10-Q
Accession Number	`0001493152-19-017464`
Period End Date	20190930
Filing Date	20191114
Fiscal Year	2019
Fiscal Period	Q3
XBRL Instance	ocx-20190930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 48 Cash Flow Statement 70 Comprehensive Income 12

Balance Sheet 67 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`	$19.44M	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`	$415.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$418.00K	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
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.64M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$20.28M	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, equipment and right of use assets, net	`MachineryEquipmentAndRightOfUseAssetsNet`	$614.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	51.97M	shares	Point-in-time
Machinery, equipment and right of use assets, net	`MachineryEquipmentAndRightOfUseAssetsNet`	$1.08M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.66M	shares	Point-in-time
Deposits and other noncurrent assets	`DepositsAndOtherNoncurrentAssets`	$169.00K	USD	Point-in-time
Deposits and other noncurrent assets	`DepositsAndOtherNoncurrentAssets`	$262.00K	USD	Point-in-time
Equity method investment in Razor	`EquityMethodInvestments`	$11.24M	USD	Point-in-time
Equity method investment in Razor	`EquityMethodInvestments`	-	USD	Point-in-time
TOTAL ASSETS	`Assets`	$9.52M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$32.77M	USD	Point-in-time
Amount due to Lineage and affiliates	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Amount due to Lineage and affiliates	`DueToRelatedPartiesCurrent`	$2.10M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$358.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$166.00K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$2.11M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$1.85M	USD	Point-in-time
Loan payable, current	`LoansPayableCurrent`	$577.00K	USD	Point-in-time
Loan payable, current	`LoansPayableCurrent`	$800.00K	USD	Point-in-time
Financing lease and right of use liabilities, current	`FinancingLeaseAndRightOfUseLiabilitiesCurrent`	$253.00K	USD	Point-in-time
Financing lease and right of use liabilities, current	`FinancingLeaseAndRightOfUseLiabilitiesCurrent`	$385.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.56M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.04M	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 and right of use liabilities, noncurrent	`FinancingLeaseAndRightOfUseLiabilitiesNoncurrent`	$187.00K	USD	Point-in-time
Financing lease and right of use liabilities, noncurrent	`FinancingLeaseAndRightOfUseLiabilitiesNoncurrent`	$392.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$6.09M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.44M	USD	Point-in-time
Commitments and contingencies (Note 10)	`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 September 30, 2019 and December 31, 2018, respectively	`CommonStockValue`	$115.13M	USD	Point-in-time
Common stock, no par value, 85,000 shares authorized; 51,973 and 40,664 shares issued and outstanding at September 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`	$-71.32M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-85.79M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$7.52M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$6.85M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$33.51M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$4.40M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$3.42M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$29.34M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$9.52M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$32.77M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$1.62M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$5.31M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$4.48M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.53M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.31M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.43M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.00M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$9.09M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$1.41M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$1.15M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$184.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$630.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.26M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$14.72M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$3.02M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$11.15M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-14.72M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-5.26M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-11.15M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-3.02M	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$135.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$-50.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$282.00K	USD	3 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNet`	$-167.00K	USD	3 Qtrs
Unrealized gain (loss) on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$-13.00K	USD	3 Qtrs
Unrealized gain (loss) on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$-103.00K	USD	1 Quarter
Unrealized gain (loss) on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$102.00K	USD	1 Quarter
Unrealized gain (loss) on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$71.00K	USD	3 Qtrs
Other expenses, net	`OtherNonoperatingIncomeExpense`	$-4.00K	USD	3 Qtrs
Other expenses, net	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other expenses, net	`OtherNonoperatingIncomeExpense`	$-25.00K	USD	3 Qtrs
Other expenses, net	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Total other income (expenses), net	`NonoperatingIncomeExpense`	$244.00K	USD	3 Qtrs
Total other income (expenses), net	`NonoperatingIncomeExpense`	$52.00K	USD	1 Quarter
Total other income (expenses), net	`NonoperatingIncomeExpense`	$32.00K	USD	1 Quarter
Total other income (expenses), net	`NonoperatingIncomeExpense`	$-100.00K	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-11.26M	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-5.22M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-14.47M	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-2.97M	USD	1 Quarter
Net loss per share; basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.29	USD	3 Qtrs
Net loss per share; basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.30	USD	3 Qtrs
Net loss per share; basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	1 Quarter
Net loss per share; basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.10	USD	1 Quarter
Weighted average common shares outstanding; basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	50.22M	shares	3 Qtrs
Weighted average common shares outstanding; basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	36.90M	shares	3 Qtrs
Weighted average common shares outstanding; basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	51.97M	shares	1 Quarter
Weighted average common shares outstanding; basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	40.23M	shares	1 Quarter

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-11.26M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-5.22M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-14.47M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.97M	USD	1 Quarter
Depreciation expense	`Depreciation`	$278.00K	USD	3 Qtrs
Depreciation expense	`Depreciation`	$84.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$317.00K	USD	3 Qtrs
Depreciation expense	`Depreciation`	$110.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	-	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$121.00K	USD	3 Qtrs
Amortization of prepaid maintenance	`AmortizationOfPrepaidMaintenance`	$9.00K	USD	3 Qtrs
Amortization of prepaid maintenance	`AmortizationOfPrepaidMaintenance`	$28.00K	USD	3 Qtrs
Impairment charge for intangible assets	`AssetImpairmentCharges`	$625.00K	USD	3 Qtrs
Impairment charge for intangible assets	`AssetImpairmentCharges`	-	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$2.21M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$344.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.08M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$821.00K	USD	1 Quarter
Unrealized (gain) loss on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$-13.00K	USD	3 Qtrs
Unrealized (gain) loss on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$-103.00K	USD	1 Quarter
Unrealized (gain) loss on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$102.00K	USD	1 Quarter
Unrealized (gain) loss on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$71.00K	USD	3 Qtrs
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$30.00K	USD	3 Qtrs
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$62.00K	USD	3 Qtrs
Warrants issued to Chardan Capital for advisory services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$234.00K	USD	3 Qtrs
Warrants issued to Chardan Capital for advisory services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	3 Qtrs
Other	`OtherOperatingActivitiesCashFlowStatement`	$24.00K	USD	3 Qtrs
Other	`OtherOperatingActivitiesCashFlowStatement`	$25.00K	USD	3 Qtrs
Amount due to Lineage and affiliates	`IncreaseDecreaseInDueToRelatedParties`	$12.00K	USD	3 Qtrs
Amount due to Lineage and affiliates	`IncreaseDecreaseInDueToRelatedParties`	$-2.10M	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$77.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$238.00K	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-39.00K	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-416.00K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.19M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-14.41M	USD	3 Qtrs
Equity method investment in Razor	`PaymentsToAcquireEquityMethodInvestments`	-	USD	3 Qtrs
Equity method investment in Razor	`PaymentsToAcquireEquityMethodInvestments`	$11.24M	USD	3 Qtrs
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$18.00K	USD	3 Qtrs
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$31.00K	USD	3 Qtrs
Security deposit and other	`PaymentsToSecurityDepositAndOther`	-	USD	3 Qtrs
Security deposit and other	`PaymentsToSecurityDepositAndOther`	$-64.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.20M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-31.00K	USD	3 Qtrs
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$58.00K	USD	3 Qtrs
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$943.00K	USD	3 Qtrs
Proceeds from sale of common shares	`ProceedsFromIssuanceOfCommonStock`	$10.00M	USD	3 Qtrs
Proceeds from sale of common shares	`ProceedsFromIssuanceOfCommonStock`	$40.25M	USD	3 Qtrs
Financing costs to issue common shares	`PaymentsOfStockIssuanceCosts`	$65.00K	USD	3 Qtrs
Financing costs to issue common shares	`PaymentsOfStockIssuanceCosts`	$3.25M	USD	3 Qtrs
Proceeds from sale of common shares and warrants	`ProceedsFromSaleOfCommonStockAndWarrants`	$3.59M	USD	3 Qtrs
Proceeds from sale of common shares and warrants	`ProceedsFromSaleOfCommonStockAndWarrants`	-	USD	3 Qtrs
Financing costs to issue common shares and warrants	`FinancingCostsToIssueCommonSharesAndWarrants`	-	USD	3 Qtrs
Financing costs to issue common shares and warrants	`FinancingCostsToIssueCommonSharesAndWarrants`	$290.00K	USD	3 Qtrs
Repayment of loan payable	`RepaymentsOfDebt`	$600.00K	USD	3 Qtrs
Repayment of loan payable	`RepaymentsOfDebt`	$600.00K	USD	3 Qtrs
Repayment of financing lease obligations	`FinanceLeasePrincipalPayments`	$250.00K	USD	3 Qtrs
Repayment of financing lease obligations	`FinanceLeasePrincipalPayments`	$323.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$12.45M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$37.02M	USD	3 Qtrs
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$3.22M	USD	3 Qtrs
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$11.41M	USD	3 Qtrs
At beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$19.44M	USD	Point-in-time
At beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.03M	USD	Point-in-time
At beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.60M	USD	Point-in-time
At beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$10.82M	USD	Point-in-time
At end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$19.44M	USD	Point-in-time
At end 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`	$10.82M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
NET LOSS	`NetIncomeLoss`	$-11.26M	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-5.22M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-14.47M	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-2.97M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	3 Qtrs
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	3 Qtrs
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-11.26M	USD	3 Qtrs
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-2.97M	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-14.47M	USD	3 Qtrs
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-5.22M	USD	1 Quarter

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