International Isotopes (INIS) 10-Q 13 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 04, 2016
Document And Entity Information
Entity Registrant Name	INTERNATIONAL ISOTOPES INC
Entity Central Index Key	1,038,277
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		402,448,153
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,016

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Current assets
Cash and cash equivalents	$ 429,156	$ 397,955
Accounts receivable	802,558	1,084,940
Inventories	1,178,685	1,111,570
Prepaids and other current assets	511,559	543,093
Total current assets	2,921,958	3,137,558
Long-term assets
Restricted certificate of deposit	450,630	450,630
Property, plant and equipment, net	1,961,944	1,932,263
Investment	1,458,731	1,434,928
Patents and other intangibles, net	4,268,452	4,287,848
Total long-term assets	8,139,757	8,105,669
Total assets	11,061,715	11,243,227
Current liabilities
Accounts payable	783,163	1,043,989
Accrued liabilities	458,048	488,657
Current portion of unearned revenue	1,278,062	907,680
Current installments of notes payable	6,664	45,871
Total current liabilities	2,525,937	2,486,197
Long-term liabilities
Convertible debt, net of debt discount	2,966,303	2,946,683
Obligation for lease disposal costs	462,009	459,711
Unearned revenue	664,560	642,060
Notes payable, net of current portion and debt discount	345,779	275,670
Mandatorily redeemable convertible preferred stock	850,000	850,000
Total long-term liabilities	5,288,651	5,174,124
Total liabilities	7,814,588	7,660,321
Stockholders' Equity
Common stock	4,024,215	4,022,430
Additional paid-in capital	119,591,948	119,554,325
Accumulated deficit	(120,434,967)	(120,060,449)
Equity attributable to International Isotopes Inc. stockholders	3,181,196	3,516,306
Equity attributable to non-controlling interest	65,931	66,600
Total equity	3,247,127	3,582,906
Total liabilities and stockholders' equity	$ 11,061,715	$ 11,243,227

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common stock, par value in dollars	$ 0.01	$ 0.01
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued	402,421,525	402,242,994
Common stock, shares outstanding	402,421,525	402,242,994

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Sale of product	$ 1,691,677	$ 1,936,481
Cost of product	944,540	1,125,943
Gross profit	747,137	810,538
Operating costs and expenses:
Salaries and contract labor	437,135	408,184
General, administrative and consulting	454,506	376,696
Research and development	148,608	92,747
Total operating expenses	1,040,249	877,627
Operating loss	(293,112)	(67,089)
Other income (expense):
Other income	4,500	6,955
Equity in net income of affiliate	23,803	34,693
Interest income	93	92
Interest expense	(110,470)	(141,124)
Total other income (expense)	(82,074)	(99,384)
Net loss	(375,186)	(166,473)
Loss (income) attributable to noncontrolling interest	668	(5,075)
Net loss attributable to International Isotopes Inc.	$ (374,518)	$ (171,548)
Net loss per common share - basic and diluted	$ 0	$ 0
Weighted average common shares outstanding - basic and diluted	402,335,817	386,006,105

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net loss	$ (375,186)	$ (166,473)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Net income in equity method investment	(23,803)	(34,693)
Depreciation and amortization	54,008	51,685
Gain on disposal of property, plant and equipment	(4,500)	0
Accretion of obligation for lease disposal costs	2,298	2,253
Accretion of beneficial conversion feature and debt discount	48,880	54,289
Equity based compensation	38,554	56,345
Changes in operating assets and liabilities:
Accounts receivable	282,382	(236,548)
Prepaids and other assets	31,534	20,890
Inventories	(67,115)	93,125
Unearned revenues	392,882	0
Accounts payable and accrued liabilities	(291,435)	175,151
Net cash provided by operating activities	88,499	16,024
Cash flows from investing activities:
Proceeds from sale of property, plant and equipment	4,500	0
Dividends received from equity method investment	0	10,684
Purchase of property, plant and equipment	(16,781)	(9,723)
Net cash (used in) provided by investing activities	(12,281)	961
Cash flows from financing activities:
Proceeds from sale of stock	854	1,548
Principal payments on notes payable	(45,871)	(51,887)
Net cash used in financing activities	(45,017)	(50,339)
Net increase (decrease) in cash and cash equivalents	31,201	(33,354)
Cash and cash equivalents at beginning of period	397,955	558,541
Cash and cash equivalents at end of period	429,156	525,187
Supplemental disclosure of cash flow activities:
Cash paid for interest	0	114,076
Supplemental disclosure of noncash financing and investing transactions:
Increase in equity and decrease in debt for conversion of debentures	0	1,060,000
Increase in equity and decrease in accrued interest for conversion of debentures	0	222,600
Dealer financing for the purchase of a new vehicle	$ 45,713	$ 0

The Company and Basis of Presen

The Company and Basis of Presentation	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company and Basis of Presentation	(1) The Company and Basis of Presentation International Isotopes Inc. (INIS) was incorporated in Texas in November 1995. The accompanying unaudited condensed consolidated financial statements are presented in conformity with accounting principles generally accepted in the United States of America (GAAP) and include all operations and balances of INIS and its wholly-owned subsidiaries. The unaudited condensed consolidated financial statements also include the accounts of INIS’s 50% owned joint venture, TI Services, LLC, which is located in Ohio. Nature of Operations With the exception of certain unique products, the Company’s normal operating cycle is considered to be one year. Due to the time required to produce some cobalt products, the Company’s operating cycle for those products is considered to be two to three years. Accordingly, preliminary payments received on cobalt contracts, where shipment will not take place for greater than one year, have been recorded as unearned revenue and classified under current or long-term liabilities, depending upon estimated ship dates, on the Company’s consolidated balance sheets. These unearned revenues will be recognized as revenue in the future period during which the cobalt shipments begin. Principles of Consolidation Interim Financial Information Recent Accounting Standards In August 2015, the FASB issued ASU No. 2015-14, “Revenue from Contracts with Customers” which defers the effective date of ASU 2014-09 for all entities by one year. The guidance in “Revenue Recognition (Topic 606)” requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. ASU 2015-14 is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period and is to be applied retrospectively, with early application not permitted. The Company is evaluating the new standard, but does not at this time expect this standard to have a material impact on its consolidated financial statements. In July 2015, the FASB issued ASU 2015-11, “Inventory” which requires entities to measure inventory at the lower of cost and net realizable value with net realizable value being the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. ASU 2015-11 is effective for fiscal years beginning after December 15, 2016 including interim periods within those fiscal years. The Company is evaluating the new standard, but does not at this time, expect this standard to have a material impact on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases” which was issued to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The amendments in ASU 2016-02 are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the impact the new standard will have on its financial statements.

Current Developments and Liquid

Current Developments and Liquidity	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Current Developments and Liquidity	(2) Current Developments and Liquidity Business Condition During the quarter ended March 31, 2016, the Company continued its focus upon its long-standing core business segments which consist of its radiochemical products, cobalt products, nuclear medicine standards, and radiological services segments, and in particular, the pursuit of new business opportunities within those segments. The Company expects that cash from operations and its current cash balance will be sufficient to fund operations for the next twelve months. Future liquidity and capital funding requirements will depend on numerous factors, including, contract manufacturing agreements, commercial relationships, technological developments, market factors, available credit, and voluntary warrant redemption by shareholders. There is no assurance that additional capital and financing will be available on acceptable terms to the Company or at all.

Net Loss Per Common Share - Bas

Net Loss Per Common Share - Basic and Diluted	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Net Loss Per Common Share - Basic and Diluted	(3) Net Loss Per Common Share - Basic and Diluted For the three months ended March 31, 2016, the Company had 27,950,000 stock options outstanding, 27,419,172 warrants outstanding, and 425,000 shares of Series B redeemable convertible preferred stock outstanding that were not included in the computation of diluted loss per common share because they would be anti-dilutive. For the three months ended March 31, 2015, the Company had 27,950,000 stock options outstanding, 42,257,951 warrants outstanding, and 425,000 shares of Series B redeemable convertible preferred stock outstanding that were not included in the computation of diluted loss per common share because they would be anti-dilutive.

Investment

Investment	3 Months Ended
	Mar. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Investment	(4) Investment The Company owns a 24.5% interest in RadQual, with which the Company has an exclusive manufacturing agreement for nuclear medicine products. The 24.5% ownership of RadQual has a balance of $1,458,731 and is reported as an asset at March 31, 2016. For the three months ended March 31, 2016, there were no member distributions from RadQual, and for the same period in 2015, member distributions totaling $10,684 were recorded as a reduction of the investment. During the three months ended March 31, 2016 and 2015, earnings allocated to the Company from RadQual totaled $23,803 and $34,693, respectively. These allocated earnings were recorded as equity in net income of affiliate on the Company’s condensed consolidated statements of operations. At March 31, 2016 and 2015, the Company had receivables from RadQual in the amount of $352,274 and $357,379, respectively, which are recorded as part of accounts receivable on the Company’s condensed consolidated balance sheets. For the three months ended March 31, 2016 and 2015, the Company had revenue from RadQual in the amount of $516,358 and $515,583, respectively, which is recorded as sale of product on the Company’s condensed consolidated statements of operations. Summarized financial information for RadQual as of March 31, 2016 and for March 31, 2015 is presented below: For the three-months ended March 31, RadQual LLC 2016 2015 Current assets $ 599,038 $ 588,073 Noncurrent assets 14,247 14,331 Current liabilities 377,233 508,767 Noncurrent liabilities $ - $ (45,348) Revenue $ 722,001 $ 810,727 Gross profit 249,906 258,619 Net income $ 97,251 $ 136,530

Inventories

Inventories	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Inventories	(5) Inventories Inventories consisted of the following at March 31, 2016 and December 31, 2015: March 31, 2016 December 31, 2015 Raw materials $ 91,555 $ 91,555 Work in progress 1,077,326 1,011,330 Finished goods 9,804 8,685 $ 1,178,685 $ 1,111,570 Work in process includes cobalt-60 targets that are located in the U.S. Department of Energy’s (DOE) Advanced Test Reactor (ATR) located outside of Idaho Falls, Idaho. All targets held at the reactor are in various stages of irradiation and their carrying value is based on accumulated irradiation and handling costs which have been allocated to each target based on the length of time the targets have been held and processed at the reactor. As of March 31, 2016, and December 31, 2015, the total carrying value of the target inventory was $835,052 and $721,052, respectively. Work in process also includes costs to irradiate cobalt-60 material under a contract with the DOE. This material has been placed in the reactor exclusively for purchase by the Company. The Company has contracted with several customers for the purchase of this cobalt-60 material and has collected advance payments for project management, up-front handling and irradiation charges. These payments have been recorded as unearned revenue. The revenue and the costs associated with irradiation will be recognized as the targets are completed and shipped to the customer, which is expected to be in 2017.

Stockholders' Equity, Options a

Stockholders' Equity, Options and Warrants	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Stockholders' Equity, Options and Warrants	(6) Stockholders’ Equity, Options and Warrants Employee Stock Purchase Plan During the three months ended March 31, 2016 and 2015, the Company issued 10,671 and 60,715 shares of common stock, respectively, to employees for proceeds of $854 and $1,548, respectively. All of these shares were issued in accordance with the Company’s employee stock purchase plan. As of March 31, 2016, 850,373 shares of common stock remain available for issuance under the Company’s employee stock purchase plan. Stock-Based Compensation Plans 2015 Incentive Plan Employee/Director Grants Non-Employee Grants Option awards outstanding as of March 31, 2016, and changes during the three months ended March 31, 2016, were as follows: Stock Options Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life Aggregate Intrinsic Value Outstanding at December 31, 2015 27,950,000 $ 0.04 Granted - Exercised - Forfeited - Outstanding at March 31, 2016 27,950,000 $ 0.04 5.2 $ 1,457,000 Exercisable at March 31, 2016 23,429,166 $ 0.04 4.6 $ 1,214,917 The intrinsic value of outstanding and exercisable shares is based on the closing price of the Company’s common stock of $0.09 per share on March 31, 2016, the last trading day of the quarter. As of March 31, 2016, there was $30,627 of unrecognized compensation expense related to stock options that will be recognized over a weighted-average period of 0.55 years. Total stock-based compensation expense for the three months ended March 31, 2016 and 2015 was $38,554 and $56,345, respectively. Pursuant to an employment agreement with its CEO, the Company issued 280,000 fully vested shares of common stock in February 2016, under the Company’s 2015 Plan. The number of shares awarded was based on a $28,000 stock award using a price of $0.10 per share. The employment agreement provides that the number of shares issued will be based on the average closing price of common stock for the 20 trading days prior to issue date but not less than $0.10 per share. Compensation expense recorded pursuant to this stock grant was $15,107, which was determined by multiplying the number of shares awarded by the closing price of the common stock on February 26, 2016, which was $0.09 per share. The Company withheld 112,140 shares of common stock to satisfy the employee’s payroll tax obligations in connection with this issuance. The net shares issued on February 29, 2016, totaled 167,860. Warrants Warrants outstanding at March 31, 2016, and changes during the three months ended March 31, 2016, were as follows: Warrants Outstanding at December 31, 2015 42,257,951 Issued - Exercised - Forfeited (14,838,779) Outstanding at March 31, 2016 27,419,172 On January 31, 2016, per the terms of the warrants, all Series H Warrants for the issuance of 1,913,892 shares of common stock, and all Series I Warrants for the issuance of 12,924,887 shares of common stock, expired.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(7) Commitments and Contingencies Dependence on Third Parties The production of HSA Cobalt is dependent upon the DOE, and its prime operating contractor, which controls the reactor and laboratory operations at the ATR located outside of Idaho Falls, Idaho. In October 2014, the Company signed a ten-year contract with the DOE for the irradiation of cobalt targets for the production of cobalt-60. The Company will be able to purchase cobalt targets for a fixed price per target and with an annual 5% escalation in price. The contract term is October 1, 2014, through September 30, 2024, however, the contract may be extended beyond that date. Also, the DOE may end the contract if it determines termination is necessary for the national defense, security or environmental safety of the United States. If this were to occur, all payments made by the Company, for partially irradiated undelivered cobalt material, would be refunded. Nuclear Medicine Reference and Calibration Standard manufacturing is conducted under an exclusive contract with RadQual, which in turn has an agreement in place with several companies for distributing the products. A loss of any of these customers or suppliers could adversely affect operating results by causing a delay in production or a possible loss of sales. Contingencies Because all of the Company’s business segments involve the handling or use of radioactive material, the Company is required to have an operating license from the U.S. Nuclear Regulatory Commission (“NRC”) and specially trained staff to handle these materials. The Company has amended this operating license numerous times to increase the amount of material permitted within the Company’s facility. Although this license does not currently restrict the volume of business operation performed or projected to be performed in the upcoming year, additional processing capabilities and license amendments could be implemented that would permit processing of other reactor-produced radioisotopes by the Company. The financial assurance required by the NRC to support this license has been provided for with a letter of credit and a restricted certificate of deposit, in the amount of $450,630, held with Wells Fargo Bank. On March 8, 2016, the Company delivered a Demand for Arbitration letter to Alpha Omega Services (AOS) of Bellflower, California. The demand letter requested arbitration before the American Arbitration Association seeking recovery of a deposit made to AOS for the purchase of a shipping container plus additional amounts for lost revenue as a result of not owning the container. The demand was for approximately $918,000 plus attorneys’ fees and costs. AOS subsequently responded to the demand letter with a counter-demand. The counter-demand denied the Company’s claims against AOS and requested reimbursement from the Company of $2,000,000, plus attorneys’ fees and costs, for breach of contract and other claims. Both parties have agreed to mediation regarding the claims, which is expected to take place in June 2016. No accruals have been made in the Company’s financial statements for this pending arbitration. Additionally, it is not possible at this time to predict the outcome of this matter and there is no assurance that the Company will be successful with its claim.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segment Information	(8) Segment Information The Company has six reportable segments which include: Nuclear Medicine Standards, Cobalt Products, Radiochemical Products, Fluorine Products, Radiological Services, and Transportation. Information regarding the operations and assets of these reportable business segments is contained in the following table: Three months ended March 31, Sale of Product 2016 2015 Radiochemical Products $ 382,245 $ 421,639 Cobalt Products 313,786 253,315 Nuclear Medicine Standards 813,159 869,982 Radiological Services 127,987 354,895 Fluorine Products - - Transportation 54,500 36,650 Total Segments 1,691,677 1,936,481 Corporate revenue - - Total Consolidated $ 1,691,677 $ 1,936,481 Three months ended March 31, Depreciation and Amortization 2016 2015 Radiochemical Products $ 1,748 $ 1,704 Cobalt Products 9,691 10,487 Nuclear Medicine Standards 4,300 3,616 Radiological Services 6,961 6,118 Fluorine Products 27,948 27,522 Transportation 1,760 1,111 Total Segments 52,408 50,558 Corporate depreciation and amortization 1,600 1,127 Total Consolidated $ 54,008 $ 51,685 Three months ended March 31, Segment Income (Loss) 2016 2015 Radiochemical Products $ 63,098 $ 86,968 Cobalt Products 203,365 150,268 Nuclear Medicine Standards 154,731 192,649 Radiological Services 47,594 142,361 Fluorine Products (74,181) (98,156) Transportation 10,862 (6,635) Total Segments 405,469 467,455 Corporate loss (779,987) (639,003) Net Loss $ (374,518) $ (171,548) Three months ended March 31, Expenditures for Segment Assets 2016 2015 Radiochemical Products $ - $ 870 Cobalt Products - - Nuclear Medicine Standards - 487 Radiological Services 4,803 - Fluorine Products 8,719 8,364 Transportation 50,772 - Total Segments 64,294 9,721 Corporate purchases - - Total Consolidated $ 64,294 $ 9,721 March 31, December 31, Segment Assets 2016 2015 Radiochemical Products $ 219,507 $ 212,988 Cobalt Products 1,063,184 934,781 Nuclear Medicine Standards 617,366 626,615 Radiological Services 169,071 502,445 Fluorine Products 5,884,466 5,904,150 Transportation 50,655 1,642 Total Segments 8,004,249 8,182,621 Corporate assets 3,057,466 3,060,606 Total Consolidated $ 11,061,715 $ 11,243,227

Accounting Policies (Policies)

Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation
Interim Financial Information	Interim Financial Information
Recent Accounting Standards	Recent Accounting Standards In August 2015, the FASB issued ASU No. 2015-14, “Revenue from Contracts with Customers” which defers the effective date of ASU 2014-09 for all entities by one year. The guidance in “Revenue Recognition (Topic 606)” requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. ASU 2015-14 is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period and is to be applied retrospectively, with early application not permitted. The Company is evaluating the new standard, but does not at this time expect this standard to have a material impact on its consolidated financial statements. In July 2015, the FASB issued ASU 2015-11, “Inventory” which requires entities to measure inventory at the lower of cost and net realizable value with net realizable value being the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. ASU 2015-11 is effective for fiscal years beginning after December 15, 2016 including interim periods within those fiscal years. The Company is evaluating the new standard, but does not at this time, expect this standard to have a material impact on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases” which was issued to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The amendments in ASU 2016-02 are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the impact the new standard will have on its financial statements.

Investment (Tables)

Investment (Tables)	3 Months Ended
	Mar. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Equity Method Investments	For the three-months ended March 31, RadQual LLC 2016 2015 Current assets $ 599,038 $ 588,073 Noncurrent assets 14,247 14,331 Current liabilities 377,233 508,767 Noncurrent liabilities $ - $ (45,348) Revenue $ 722,001 $ 810,727 Gross profit 249,906 258,619 Net income $ 97,251 $ 136,530

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	March 31, 2016 December 31, 2015 Raw materials $ 91,555 $ 91,555 Work in progress 1,077,326 1,011,330 Finished goods 9,804 8,685 $ 1,178,685 $ 1,111,570

Stockholders' Equity, Options17

Stockholders' Equity, Options and Warrants (Tables)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Schedule of Share-Based Compensation Stock Option Activity	Stock Options Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life Aggregate Intrinsic Value Outstanding at December 31, 2015 27,950,000 $ 0.04 Granted - Exercised - Forfeited - Outstanding at March 31, 2016 27,950,000 $ 0.04 5.2 $ 1,457,000 Exercisable at March 31, 2016 23,429,166 $ 0.04 4.6 $ 1,214,917
Schedule of Stockholders' Equity Note, Warrants or Rights	Warrants Outstanding at December 31, 2015 42,257,951 Issued - Exercised - Forfeited (14,838,779) Outstanding at March 31, 2016 27,419,172

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Schedule of Segment Reporting Information by Segment	Three months ended March 31, Sale of Product 2016 2015 Radiochemical Products $ 382,245 $ 421,639 Cobalt Products 313,786 253,315 Nuclear Medicine Standards 813,159 869,982 Radiological Services 127,987 354,895 Fluorine Products - - Transportation 54,500 36,650 Total Segments 1,691,677 1,936,481 Corporate revenue - - Total Consolidated $ 1,691,677 $ 1,936,481 Three months ended March 31, Depreciation and Amortization 2016 2015 Radiochemical Products $ 1,748 $ 1,704 Cobalt Products 9,691 10,487 Nuclear Medicine Standards 4,300 3,616 Radiological Services 6,961 6,118 Fluorine Products 27,948 27,522 Transportation 1,760 1,111 Total Segments 52,408 50,558 Corporate depreciation and amortization 1,600 1,127 Total Consolidated $ 54,008 $ 51,685 Three months ended March 31, Segment Income (Loss) 2016 2015 Radiochemical Products $ 63,098 $ 86,968 Cobalt Products 203,365 150,268 Nuclear Medicine Standards 154,731 192,649 Radiological Services 47,594 142,361 Fluorine Products (74,181) (98,156) Transportation 10,862 (6,635) Total Segments 405,469 467,455 Corporate loss (779,987) (639,003) Net Loss $ (374,518) $ (171,548) Three months ended March 31, Expenditures for Segment Assets 2016 2015 Radiochemical Products $ - $ 870 Cobalt Products - - Nuclear Medicine Standards - 487 Radiological Services 4,803 - Fluorine Products 8,719 8,364 Transportation 50,772 - Total Segments 64,294 9,721 Corporate purchases - - Total Consolidated $ 64,294 $ 9,721 March 31, December 31, Segment Assets 2016 2015 Radiochemical Products $ 219,507 $ 212,988 Cobalt Products 1,063,184 934,781 Nuclear Medicine Standards 617,366 626,615 Radiological Services 169,071 502,445 Fluorine Products 5,884,466 5,904,150 Transportation 50,655 1,642 Total Segments 8,004,249 8,182,621 Corporate assets 3,057,466 3,060,606 Total Consolidated $ 11,061,715 $ 11,243,227

The Company and Basis of Pres19

The Company and Basis of Presentation - Joint Venture (Details Narrative)	Mar. 31, 2016
TI Services, LLC
Joint venture, percentage ownership	50.00%
RadQual, LLC
Joint venture, percentage ownership	24.50%

Current Developments and Liqu20

Current Developments and Liquidity (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss attributable to International Isotopes Inc.	$ (374,518)	$ (171,548)
Net cash provided by (used in) operating activities	$ 88,499	$ 16,024

Net Loss Per Common Share - B21

Net Loss Per Common Share - Basic and Diluted (Details Narrative) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Stock options outstanding	27,950,000	27,950,000	27,950,000
Warrants outstanding	27,419,172	42,257,951	42,257,951
Series B Redeemable Convertible Preferred Stock
Anti-dilutive preferred stock, shares outstanding	425,000	425,000

Investment - Schedule of Equity

Investment - Schedule of Equity Method Investments (Details) - RadQual, LLC - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Schedule of Equity Method Investments [Line Items]
Current assets	$ 599,038	$ 588,073
Noncurrent assets	14,247	14,331
Current liabilities	377,233	508,767
Noncurrent liabilities	0	(45,348)
Revenue	722,001	810,727
Gross profit	249,906	258,619
Net income	$ 97,251	$ 136,530

Investment (Details Narrative)

Investment (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Schedule of Equity Method Investments [Line Items]
Investment	$ 1,458,731		$ 1,434,928
Member distributions, reduction of investment	0	$ 10,684
Equity in net income of affiliate	23,803	34,693
Revenues	$ 1,691,677	1,936,481
RadQual, LLC
Schedule of Equity Method Investments [Line Items]
Ownership interest	24.50%
Investment	$ 1,458,731
Member distributions, reduction of investment	0	10,684
Equity in net income of affiliate	23,803	34,693
Accounts receivable	352,274	357,379
Revenues	$ 516,358	$ 515,583

Inventories (Details)

Inventories (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Inventory, Net, Items Net of Reserve
Raw materials	$ 91,555	$ 91,555
Work in progress	1,077,326	1,011,330
Finished goods	9,804	8,685
Total inventory	$ 1,178,685	$ 1,111,570

Inventories (Details Narrative)

Inventories (Details Narrative) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Inventory, Work in Process and Raw Materials
Inventory, cobalt-60 isotopes, carrying value	$ 835,052	$ 721,052

Stockholders' Equity, Options26

Stockholders' Equity, Options and Warrants - Share-Based Compensation Stock Option Activity (Details)	3 Months Ended
	Mar. 31, 2016USD ($)$ / sharesshares
Share-Based Compensation Arrangement By Share-Based Payment Award Options Outstanding
Shares outstanding at beginning of period | shares	27,950,000
Shares granted | shares	0
Shares exercised | shares	0
Shares forfeited | shares	0
Shares outstanding at end of period | shares	27,950,000
Shares exercisable at end of period | shares	23,429,166
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted average exercise price outstanding at beginning of period | $ / shares	$ 0.04
Weighted average exercise price granted | $ / shares	0
Weighted average exercise price exercised | $ / shares	0
Weighted average exercise price forfeited | $ / shares	0
Weighted average exercise price outstanding at end of period | $ / shares	0.04
Weighted average exercise price exercisable at end of period | $ / shares	$ 0.04
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted average remaining contractual life outstanding at end of period	5 years 2 months
Weighted average remaining contractual life exercisable at end of period	4 years 6 months
Aggregate intrinsic value outstanding at end of period | $	$ 1,457,000
Aggregate intrinsic value exercisable at end of period | $	$ 1,214,917

Stockholders' Equity, Options27

Stockholders' Equity, Options and Warrants - Stockholders' Equity Note, Warrants or Rights (Details)	3 Months Ended
	Mar. 31, 2016shares
Class of Warrant or Right [Roll Forward]
Warrants outstanding, beginning of period	42,257,951
Warrants issued	0
Warrants exercised	0
Warrants forfeited	(14,838,779)
Warrants outstanding, end of period	27,419,172

Stockholders' Equity, Options28

Stockholders' Equity, Options and Warrants (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Unrecognized compensation expense related to stock options	$ 30,627
Unrecognized compensation, weighted average period	7 months
Stock-based compensation expense	$ 38,554	$ 56,345
Warrants | Series I
Warrants expired	12,924,887
Warrants | Series H
Warrants expired	1,913,892
Employee Stock Purchase Plan
Common stock issued to employees, shares	10,671	60,715
Proceeds for common stock issued to employees, value	$ 854	$ 1,548
Common stock available for issuance	850,373
2015 Incentive Plan
Common stock available for issuance	21,450,597
Common stock authorized for issuance	60,000,000
Termination date	Jul. 13, 2025
2015 Incentive Plan | Chief Executive Officer
Plan shares issued, gross	280,000
Proceeds for common stock issued to employees, value	$ 28,000
Stock issued, price per share	$ 0.10
Shares withheld for payroll tax liabilities	112,140
Stock-based compensation expense	$ 15,107
Plan shares issued, net	167,860
2006 Equity Incentive Plan
Common stock authorized for issuance	11,089,967

Commitments and Contingencies (

Commitments and Contingencies (Detail Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Letter of credit and restricted certificate of deposit	$ 450,630	$ 450,630
Loss contingency, allegations	On March 8, 2016, the Company delivered a Demand for Arbitration letter to Alpha Omega Services (AOS) of Bellflower, California. The demand letter requested arbitration before the American Arbitration Association seeking recovery of a deposit made to AOS for the purchase of a shipping container plus additional amounts for lost revenue as a result of not owning the container. The demand was for approximately $918,000 plus attorneys’ fees and costs.
Damages sought by plaintiff, value, approximate	$ 918,000
Loss contingency, actions taken by defendant	AOS responded to the demand letter with a counter-demand. The counter-demand denied the Company’s claims against AOS and requested reimbursement from the Company of $2,000,000, plus attorneys’ fees and costs, for breach of contract and other claims.
Damages sought by defendant, value, approximate	$ 2,000,000

Segment Information (Details)

Segment Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Sale of Product	$ 1,691,677	$ 1,936,481
Depreciation and Amortization	54,008	51,685
Segment Income (Loss)	(374,518)	(171,548)
Expenditures for Segment Assets	64,294	9,721
Segment Assets	11,061,715		$ 11,243,227
Radiochemical Products
Segment Reporting Information [Line Items]
Sale of Product	382,245	421,639
Depreciation and Amortization	1,748	1,704
Segment Income (Loss)	63,098	86,968
Expenditures for Segment Assets	0	870
Segment Assets	219,507		212,988
Cobalt Products
Segment Reporting Information [Line Items]
Sale of Product	313,786	253,315
Depreciation and Amortization	9,691	10,487
Segment Income (Loss)	203,365	150,268
Expenditures for Segment Assets	0	0
Segment Assets	1,063,184		934,781
Nuclear Medicine Standards
Segment Reporting Information [Line Items]
Sale of Product	813,159	869,982
Depreciation and Amortization	4,300	3,616
Segment Income (Loss)	154,731	192,649
Expenditures for Segment Assets	0	487
Segment Assets	617,366		626,615
Radiological Services
Segment Reporting Information [Line Items]
Sale of Product	127,987	354,895
Depreciation and Amortization	6,961	6,118
Segment Income (Loss)	47,594	142,361
Expenditures for Segment Assets	4,803	0
Segment Assets	169,071		502,445
Fluorine Products
Segment Reporting Information [Line Items]
Sale of Product	0	0
Depreciation and Amortization	27,948	27,522
Segment Income (Loss)	(74,181)	(98,156)
Expenditures for Segment Assets	8,719	8,364
Segment Assets	5,884,466		5,904,150
Transportation
Segment Reporting Information [Line Items]
Sale of Product	54,500	36,650
Depreciation and Amortization	1,760	1,111
Segment Income (Loss)	10,862	(6,635)
Expenditures for Segment Assets	50,772	0
Segment Assets	50,655		1,642
Segment Total
Segment Reporting Information [Line Items]
Sale of Product	1,691,677	1,936,481
Depreciation and Amortization	52,408	50,558
Segment Income (Loss)	405,469	467,455
Expenditures for Segment Assets	64,294	9,721
Segment Assets	8,004,249		8,182,621
Corporate Allocation
Segment Reporting Information [Line Items]
Sale of Product	0	0
Depreciation and Amortization	1,600	1,127
Segment Income (Loss)	(779,987)	(639,003)
Expenditures for Segment Assets	0	$ 0
Segment Assets	$ 3,057,466		$ 3,060,606

Segment Information (Details Na

Segment Information (Details Narrative)	3 Months Ended
	Mar. 31, 2016Number
Segment Reporting [Abstract]
Number of reportable segments	6