v3.25.1

Balance Sheets (Current Period Unaudited) - USD ($)	Mar. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 13,696,852	$ 15,842,850
Accounts receivable, net	8,535	692
Inventory	89,337	96,406
Prepayments and other current assets	313,034	356,658
Total current assets	14,107,758	16,296,606
Property and equipment, net	389,579	415,232
Intangible assets, net	2,615,852	2,611,998
Right of use asset	462,621	483,497
Other assets	18,570	19,351
Total assets	17,594,380	19,826,684
Current Liabilities:
Accounts payable	155,707	104,117
Accrued expenses	455,219	374,012
Current portion of lease liability	85,270	82,681
Total current liabilities	696,196	560,810
Long-term lease liability	381,128	403,335
Other long-term liabilities	989,667	1,007,375
Total liabilities	2,066,991	1,971,520
Commitments and Contingencies
us-gaap_StockholdersEquityAbstract
Common stock, $0.001 par value; 50,000,000 shares authorized; 8,349,291 shares issued and 8,347,970 shares outstanding at March 31, 2025 and 8,336,812 shares issued and 8,335,491 shares outstanding at December 31, 2024	8,349	8,337
Additional paid-in capital	125,702,537	125,327,300
Treasury stock, at cost, 1,321 shares at March 31, 2025 and December 31, 2024	13,210	13,210
Accumulated deficit	(110,170,287)	(107,467,263)
Total stockholders’ equity	15,527,389	17,855,164
Total liabilities and stockholders’ equity	$ 17,594,380	$ 19,826,684

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

Ideal Power Inc. 10-Q