Ideal Power(US:IPWR)2021-05-14 11:01Revenue and Funding - Total revenue generated from inception to March 31, 2021 amounted to $15.6 million, with $12.4 million from discontinued operations and $3.2 million from grant revenue[61]. - Grant revenues for the three months ended March 31, 2021 were $242,061, related to a $1.2 million subcontract with Diversified Technologies, Inc. for B-TRAN™ devices[65]. - The company expects to pursue additional government funding that may result in further grant revenues in the future[65]. Expenses - Research and development expenses decreased by $89,784, or 26%, to $260,880 for the three months ended March 31, 2021 compared to $350,664 for the same period in 2020[67]. - General and administrative expenses increased by $20,916, or 4%, to $600,686 for the three months ended March 31, 2021 from $579,770 in the same period in 2020[68]. - Sales and marketing expenses were $62,578 for the three months ended March 31, 2021, with no expenses recorded in the same period in 2020[69]. Financial Performance - The net loss for the three months ended March 31, 2021 was $924,150, a decrease of 1% compared to a net loss of $930,501 for the same period in 2020[70]. - Cash and cash equivalents as of March 31, 2021 were $26,789,017, with net working capital of $26,499,349[71]. - Cash outflows from operating activities for the three months ended March 31, 2021 were $843,337, compared to $813,627 for the same period in 2020[72]. Share Issuance - The company issued 1,352,975 shares in February 2021 at a price of $17.00 per share, generating net proceeds of $21.2 million for commercialization and development of B-TRAN™ technology[64].