Ideal Power Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Deferred Tax Assets and Liabilities

The following is a summary of the significant components of the Company’s net deferred income tax assets and liabilities as of December 31, 2020 and 2019:


	For the Year Ended December 31,
	2020		2019
Current deferred income tax assets:
Accrued compensation and other		11,000		9,000
Less: valuation allowance		(11,000)		(9,000)
	$	—	$	—
Non-current deferred income tax assets and (liabilities):
Net operating loss	$	12,003,000	$	11,382,000
Research and development credit		18,000		18,000
Warrants issued for services		45,000		45,000
Depreciation and amortization		95,000		76,000
Exercise of options and warrants		(33,000)		(33,000)
Stock based compensation		957,000		775,000
Intangibles and other		(471,000)		(425,000)
Less: valuation allowance		(12,614,000)		(11,838,000)
Net non-current deferred tax assets	$	—	$	—

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation between the statutory income tax rate and the effective tax rate is as follows:


	For the Year Ended
	December 31,
	2020		2019
Statutory federal income tax rate	(21)	%	(21)	%
Stock based compensation	0		1
Warrant inducement	10		—
Valuation allowance	11		20
	—	%	—	%