Page 1

X ( Mark One ) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31 , 2020 to OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from DELAWARE ( State or other jurisdiction of incorporation or organization ) Securities registered pursuant to Section 12 ( b ) of the Act : UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington , D.C. 20549 Title of each class Common Stock , par value $ 0.001 per share FORM 10 - K Commission File Number 001-36216 Large accelerated filer Non - accelerated filer x IDEAL POWER INC . ( Exact name of registrant as specified in its charter ) 4120 Freidrich Lane , Suite 100 Austin , Texas 78744 ( Address and zip code of principal executive offices ) ( 512 ) 264-1542 ( Registrant's telephone number , including area code ) Trading Symbol ( s ) ( I.R.S. Employer Identification No. ) IPWR 14-1999058 Securities registered pursuant to Section 12 ( g ) of the Act : None . Indicate by check mark if the registrant is a well - known seasoned issuer , as defined in Rule 405 of the Securities Act . Yes " No x Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15 ( d ) of the Act . Yes ¨ No x Indicate by check mark whether the registrant ( 1 ) has filed all reports required to be filed by Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 during the preceding 12 months ( or for such shorter period that the registrant was required to file such reports ) and ( 2 ) has been subject to such filing requirements for the past 90 days . Yes x No " Name of each exchange on which registered The Nasdaq Capital Market Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S - T ( §232.405 of this chapter ) during the preceding 12 months ( or for such shorter period that the registrant was required to submit such files ) . Yes x No¨ Indicate by check mark whether the registrant is a large accelerated filer , an accelerated filer , a non - accelerated filer , a smaller reporting company or an emerging growth company . DOCUMENTS INCORPORATED BY REFERENCE Accelerated filer " Smaller reporting company x Emerging growth company " If an emerging growth company , indicate by check mark whether the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 ( a ) of the Exchange Act . " Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404 ( b ) of the Sarbanes - Oxley Act ( 15 U.S.C. 7262 ( b ) ) by the registered public accounting firm that prepared or issued its audit report . Indicate by check mark whether the issuer is a shell company ( as defined in Rule 12b - 2 of the Exchange Act ) . Yes No x The aggregate market value of the voting and non - voting common equity held by non - affiliates of the registrant was approximately $ 13,763,882 as of June 30 , 2020 , the last business day of the registrant's most recently completed second fiscal quarter , based upon the last sales price reported for such date on The Nasdaq Capital Market . For purposes of the foregoing calculation , all directors and executive officers of the registrant and holders of more than 10 % of the registrant's common equity are assumed to be affiliates of the registrant . This determination of affiliate status is not necessarily a conclusive determination for other purposes . As of March 24 , 2021 , the issuer had 5,872,046 shares of common stock , par value $ 0.001 , outstanding . Certain information required by Part III of this Annual Report on Form 10 - K is incorporated herein by reference from the registrant's definitive proxy statement relating to the 2021 annual meeting of stockholders , which shall be filed with the Securities and Exchange Commission within 120 days after the end of the registrant's fiscal year ended December 31 , 2020 .