10-Q Filing

Nuwellis, Inc. CIK: 1506492 Q2 2012

Filing Information

Form Type	10-Q
Accession Number	`0001104659-12-052012`
Period End Date	20120630
Filing Date	20120730
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	ssh-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 58 Cash Flow Statement 39

Balance Sheet 46 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	40.00M	shares	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	40.00M	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.77M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	6.02M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.35M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	6.28M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.56M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.46M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$632.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$346.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.40M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.91M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$522.00K	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$503.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$2.91M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$7.43M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.86M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.64M	USD	Point-in-time
Accrued salaries, wages, and other compensation	`EmployeeRelatedLiabilitiesCurrent`	$619.00K	USD	Point-in-time
Accrued salaries, wages, and other compensation	`EmployeeRelatedLiabilitiesCurrent`	$978.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.83M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.26M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.26M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.83M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred Stock as of June 30, 2012 and December 31, 2011, par value $0.0001 per share; authorized 40,000,000 shares	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock as of June 30, 2012 and December 31, 2011, par value $0.0001 per share; authorized 40,000,000 shares	`PreferredStockValue`	-	USD	Point-in-time
Common stock as of June 30, 2012 and December 31, 2011, par value $0.0001 per share; authorized 100,000,000 shares: issued and outstanding 6,277,538 and 6,019,663 shares, respectively	`CommonStockValue`	$1.00K	USD	Point-in-time
Common stock as of June 30, 2012 and December 31, 2011, par value $0.0001 per share; authorized 100,000,000 shares: issued and outstanding 6,277,538 and 6,019,663 shares, respectively	`CommonStockValue`	$1.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$68.65M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$71.34M	USD	Point-in-time
Foreign currency translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$1.20M	USD	Point-in-time
Foreign currency translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$1.13M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$-71.89M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$-65.19M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$645.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.60M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$7.43M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$2.91M	USD	Point-in-time

Income Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	-	USD	2 Qtrs
Net sales	`SalesRevenueNet`	-	USD	2 Qtrs
Net sales	`SalesRevenueNet`	-	USD	1 Quarter
Net sales	`SalesRevenueNet`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	2 Qtrs
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	2 Qtrs
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.18M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.51M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.82M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.57M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.37M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.79M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.95M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$4.67M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$3.55M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.49M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$3.36M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$7.46M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-7.46M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-6.49M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-3.55M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.36M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$80.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$4.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$197.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$29.00K	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.35M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.47M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-6.29M	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-7.43M	USD	2 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	$-730.00K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-730.00K	USD	2 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.47M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.70M	USD	2 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.29M	USD	2 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.62M	USD	1 Quarter
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.24	USD	2 Qtrs
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.68	USD	1 Quarter
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.42	USD	1 Quarter
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.08	USD	2 Qtrs
Weighted average shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	5.09M	shares	1 Quarter
Weighted average shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	5.08M	shares	2 Qtrs
Weighted average shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	6.22M	shares	2 Qtrs
Weighted average shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	6.28M	shares	1 Quarter
Weighted average shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.28M	shares	1 Quarter
Weighted average shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.08M	shares	2 Qtrs
Weighted average shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.09M	shares	1 Quarter
Weighted average shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.22M	shares	2 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-6.64M	USD	2 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-2.61M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-3.35M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-6.10M	USD	2 Qtrs

Cash Flow Statement 39 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.47M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.70M	USD	2 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.29M	USD	2 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.62M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$32.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$21.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$63.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$30.00K	USD	2 Qtrs
Loss on disposal of plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-63.00K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$621.00K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$42.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-223.00K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$286.00K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$15.00K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-203.00K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-573.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-6.82M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-6.21M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$107.00K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$43.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-107.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-43.00K	USD	2 Qtrs
Net proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$183.00K	USD	2 Qtrs
Net proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$2.07M	USD	2 Qtrs
Net proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$2.06M	USD	Point-in-time
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$183.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$2.07M	USD	2 Qtrs
Effect of exchange rate changes in cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$63.00K	USD	2 Qtrs
Effect of exchange rate changes in cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$185.00K	USD	2 Qtrs
Net decrease in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-4.79M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-5.89M	USD	2 Qtrs
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.56M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.46M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.35M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.77M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$6.46M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$12.35M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$6.56M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.77M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.