10-K Filing

INSIGHT MOLECULAR DIAGNOSTICS INC. CIK: 1642380 FY 2019

Filing Information

Form Type	10-K
Accession Number	`0001493152-20-004738`
Period End Date	20191231
Filing Date	20200326
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	ocx-20191231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 28 Cash Flow Statement 80 Stockholders Equity 18 Comprehensive Income 6

Balance Sheet 65 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`	$8.03M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.07M	USD	Point-in-time
Marketable equity securities	`EquitySecuritiesFvNi`	$379.00K	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
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$505.00K	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`	$22.96M	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
Common stock, shares issued	`CommonStockSharesIssued`	57.03M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.66M	shares	Point-in-time
Right-of-use assets, machinery and equipment, net	`RightofuseAssetsMachineryAndEquipmentNet`	$3.73M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.66M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	57.03M	shares	Point-in-time
Right-of-use assets, machinery and equipment, net	`RightofuseAssetsMachineryAndEquipmentNet`	$614.00K	USD	Point-in-time
Deposits and other noncurrent assets	`DepositsAndOtherNoncurrentAssets`	$262.00K	USD	Point-in-time
Deposits and other noncurrent assets	`DepositsAndOtherNoncurrentAssets`	$2.21M	USD	Point-in-time
Equity method investment in Razor	`EquityMethodInvestments`	-	USD	Point-in-time
Equity method investment in Razor	`EquityMethodInvestments`	$10.96M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$39.86M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$9.52M	USD	Point-in-time
Amount due to Lineage and affiliates	`DueToRelatedPartiesCurrent`	$6.00K	USD	Point-in-time
Amount due to Lineage and affiliates	`DueToRelatedPartiesCurrent`	$2.10M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$166.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$469.00K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$2.11M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$2.61M	USD	Point-in-time
Loan payable, current	`LoansPayableCurrent`	$1.12M	USD	Point-in-time
Loan payable, current	`LoansPayableCurrent`	$800.00K	USD	Point-in-time
Right-of-use and financing lease liabilities, current	`RightofuseAndFinancingLeaseLiabilitiesCurrent`	$230.00K	USD	Point-in-time
Right-of-use and financing lease liabilities, current	`RightofuseAndFinancingLeaseLiabilitiesCurrent`	$385.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.44M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.56M	USD	Point-in-time
Loan payable, net of deferred financing costs, noncurrent	`LongTermLoansPayable`	$1.91M	USD	Point-in-time
Loan payable, net of deferred financing costs, noncurrent	`LongTermLoansPayable`	$347.00K	USD	Point-in-time
Right-of-use and financing lease liabilities, noncurrent	`RightofuseAndFinancingLeaseLiabilitiesNoncurrent`	$187.00K	USD	Point-in-time
Right-of-use and financing lease liabilities, noncurrent	`RightofuseAndFinancingLeaseLiabilitiesNoncurrent`	$2.68M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$6.09M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$9.02M	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	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; 57,032 and 40,664 shares issued and outstanding at December 31, 2019 and 2018, respectively	`CommonStockValue`	$124.58M	USD	Point-in-time
Common stock, no par value, 85,000 shares authorized; 57,032 and 40,664 shares issued and outstanding at December 31, 2019 and 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`	$-93.75M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$30.84M	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 LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$9.52M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$39.86M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$6.79M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$6.51M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$13.28M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$7.01M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$2.16M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$1.68M	USD	Annual
Total operating expenses	`OperatingExpenses`	$15.20M	USD	Annual
Total operating expenses	`OperatingExpenses`	$22.24M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-15.20M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-22.24M	USD	Annual
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-153.00K	USD	Annual
Interest income (expense), net	`InterestIncomeExpenseNet`	$299.00K	USD	Annual
Interest income (expense), net	`InterestIncomeExpenseNet`	$-216.00K	USD	Annual
Unrealized loss on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$-427.00K	USD	Annual
Unrealized loss on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$-49.00K	USD	Annual
Pro rata loss from equity method investment in Razor	`IncomeLossFromEquityMethodInvestments`	-	USD	Annual
Pro rata loss from equity method investment in Razor	`IncomeLossFromEquityMethodInvestments`	$-281.00K	USD	Annual
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-3.00K	USD	Annual
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$91.00K	USD	Annual
Total other expenses, net	`NonoperatingIncomeExpense`	$-187.00K	USD	Annual
Total other expenses, net	`NonoperatingIncomeExpense`	$-552.00K	USD	Annual
NET LOSS	`NetIncomeLoss`	$-15.75M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-22.43M	USD	Annual
Net loss per share; basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.42	USD	Annual
Net loss per share; basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.44	USD	Annual
Weighted average shares outstanding; basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	51.30M	shares	Annual
Weighted average shares outstanding; basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	37.85M	shares	Annual

Cash Flow Statement 80 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-15.75M	USD	Annual
Net loss	`NetIncomeLoss`	$-22.43M	USD	Annual
Depreciation expense	`Depreciation`	$344.00K	USD	Annual
Depreciation expense	`Depreciation`	$438.00K	USD	Annual
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	-	USD	Annual
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$121.00K	USD	Annual
Amortization of right of use assets and liabilities	`AmortizationOfRightOfUseAssetsAndLiabilities`	$7.00K	USD	Annual
Amortization of right of use assets and liabilities	`AmortizationOfRightOfUseAssetsAndLiabilities`	-	USD	Annual
Pro rata loss from equity method investment in Razor	`IncomeLossFromEquityMethodInvestments`	-	USD	Annual
Pro rata loss from equity method investment in Razor	`IncomeLossFromEquityMethodInvestments`	$-281.00K	USD	Annual
Amortization of prepaid maintenance	`AmortizationOfPrepaidMaintenance`	$18.00K	USD	Annual
Amortization of prepaid maintenance	`AmortizationOfPrepaidMaintenance`	$37.00K	USD	Annual
Impairment charge for intangible assets	`AssetImpairmentCharges`	-	USD	Annual
Impairment charge for intangible assets	`AssetImpairmentCharges`	$625.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$3.00M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.48M	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`	$-427.00K	USD	Annual
Unrealized loss on marketable equity securities	`MarketableSecuritiesUnrealizedGainLoss`	$-49.00K	USD	Annual
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$77.00K	USD	Annual
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$59.00K	USD	Annual
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-153.00K	USD	Annual
Warrants issued for advisory services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$234.00K	USD	Annual
Warrants issued for advisory services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	Annual
Other	`OtherOperatingActivitiesCashFlowStatement`	$23.00K	USD	Annual
Other	`OtherOperatingActivitiesCashFlowStatement`	$107.00K	USD	Annual
Amount due to Lineage and affiliates	`IncreaseDecreaseInDueToRelatedParties`	$-2.09M	USD	Annual
Amount due to Lineage and affiliates	`IncreaseDecreaseInDueToRelatedParties`	$2.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$202.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$11.00K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$741.00K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.00M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-19.71M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-11.65M	USD	Annual
Equity method investment in Razor	`PaymentsToAcquireEquityMethodInvestments`	$11.24M	USD	Annual
Equity method investment in Razor	`PaymentsToAcquireEquityMethodInvestments`	-	USD	Annual
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$31.00K	USD	Annual
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$918.00K	USD	Annual
Security deposit and other	`PaymentsToSecurityDepositAndOther`	$252.00K	USD	Annual
Security deposit and other	`PaymentsToSecurityDepositAndOther`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-31.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.41M	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$943.00K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$58.00K	USD	Annual
Proceeds from sale of common shares	`ProceedsFromIssuanceOfCommonStock`	$10.00M	USD	Annual
Proceeds from sale of common shares	`ProceedsFromIssuanceOfCommonStock`	$48.85M	USD	Annual
Financing costs to issue common shares	`PaymentsOfStockIssuanceCosts`	$65.00K	USD	Annual
Financing costs to issue common shares	`PaymentsOfStockIssuanceCosts`	$3.29M	USD	Annual
Proceeds from sale of common shares and warrants	`ProceedsFromSaleOfCommonStockAndWarrants`	-	USD	Annual
Proceeds from sale of common shares and warrants	`ProceedsFromSaleOfCommonStockAndWarrants`	$3.59M	USD	Annual
Financing costs to issue common shares and warrants	`FinancingCostsToIssueCommonSharesAndWarrants`	-	USD	Annual
Financing costs to issue common shares and warrants	`FinancingCostsToIssueCommonSharesAndWarrants`	$290.00K	USD	Annual
Proceeds from refinance of bank loan	`ProceedsFromRepaymentsOfDebt`	$3.00M	USD	Annual
Proceeds from refinance of bank loan	`ProceedsFromRepaymentsOfDebt`	-	USD	Annual
Payoff of principal and bank fees from refinancing of bank loan	`RepaymentsOfPrincipalAndBankFeesFromRefinancingOfBankLoan`	$516.00K	USD	Annual
Payoff of principal and bank fees from refinancing of bank loan	`RepaymentsOfPrincipalAndBankFeesFromRefinancingOfBankLoan`	-	USD	Annual
Repayment of principal of loan payable prior to refinancing	`RepaymentsOfDebt`	$800.00K	USD	Annual
Repayment of principal of loan payable prior to refinancing	`RepaymentsOfDebt`	$667.00K	USD	Annual
Repayment of financing lease obligations	`FinanceLeasePrincipalPayments`	$454.00K	USD	Annual
Repayment of financing lease obligations	`FinanceLeasePrincipalPayments`	$381.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$47.87M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$12.11M	USD	Annual
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$15.74M	USD	Annual
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$434.00K	USD	Annual
At beginning of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$23.77M	USD	Point-in-time
At beginning of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.60M	USD	Point-in-time
At beginning of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.03M	USD	Point-in-time
At end of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$23.77M	USD	Point-in-time
At end of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.60M	USD	Point-in-time
At end of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.03M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$171.00K	USD	Annual
Cash paid for interest	`InterestPaidNet`	$142.00K	USD	Annual
SeeNote10ForAdditionalDisclosures	`Seenote10foradditionaldisclosures`	-	USD	Annual
SeeNote10ForAdditionalDisclosures	`Seenote10foradditionaldisclosures`	-	USD	Annual
Deferred final commitment fee for bank loan	`DeferredFinalCommitmentFeeForBankLoan`	$200.00K	USD	Annual
Deferred final commitment fee for bank loan	`DeferredFinalCommitmentFeeForBankLoan`	-	USD	Annual
Equipment purchased under financing leases	`EquipmentPurchasedUnderFinancingLeases`	-	USD	Annual
Equipment purchased under financing leases	`EquipmentPurchasedUnderFinancingLeases`	$209.00K	USD	Annual

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$30.84M	USD	Point-in-time
Balance	`StockholdersEquity`	$4.40M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.42M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-15.75M	USD	Annual
Net loss	`NetIncomeLoss`	$-22.43M	USD	Annual
Cumulative-effect adjustment for adoption of ASU 2016-01 on January 1, 2018	`CumulativeEffectOfAdjustmentForAdoptionOnAccumulatedOtherComprehensiveLoss`	-	USD	Annual
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$1.48M	USD	Annual
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$3.00M	USD	Annual
Sale of common shares and warrants	`StockIssuedDuringPeriodValueNewIssues`	$13.59M	USD	Annual
Sale of common shares and warrants	`StockIssuedDuringPeriodValueNewIssues`	$48.85M	USD	Annual
Financing costs paid to issue common shares and warrants	`StockIssuedDuringPeriodValueOther`	$-3.32M	USD	Annual
Financing costs paid to issue common shares and warrants	`StockIssuedDuringPeriodValueOther`	$-355.00K	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$58.00K	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$943.00K	USD	Annual
Issuance of warrants	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	$370.00K	USD	Annual
Balance	`StockholdersEquity`	$30.84M	USD	Point-in-time
Balance	`StockholdersEquity`	$4.40M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.42M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
NET LOSS	`NetIncomeLoss`	$-15.75M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-22.43M	USD	Annual
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	Annual
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	Annual
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-22.43M	USD	Annual
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-15.75M	USD	Annual

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