10-Q Filing

Nuwellis, Inc. CIK: 1506492 Q3 2012

Filing Information

Form Type	10-Q
Accession Number	`0001104659-12-076650`
Period End Date	20120930
Filing Date	20121109
Fiscal Year	2012
Fiscal Period	Q3
XBRL Instance	ssh-20120930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 58 Cash Flow Statement 42

Balance Sheet 48 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
Common stock, shares issued	`CommonStockSharesIssued`	9.25M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.56M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.45M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	6.02M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.34M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.35M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$346.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	6.02M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$667.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.25M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$18.11M	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`	$493.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$7.43M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$18.61M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.86M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.59M	USD	Point-in-time
Accrued salaries, wages, and other compensation	`EmployeeRelatedLiabilitiesCurrent`	$681.00K	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`	$2.27M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.27M	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 September 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 September 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 September 30, 2012 and December 31, 2011, par value $0.0001 per share; authorized 100,000,000 shares: issued and outstanding 9,247,388 and 6,019,663 shares, respectively	`CommonStockValue`	$1.00K	USD	Point-in-time
Common stock as of September 30, 2012 and December 31, 2011, par value $0.0001 per share; authorized 100,000,000 shares: issued and outstanding 9,247,388 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`	$90.34M	USD	Point-in-time
Foreign currency translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$1.18M	USD	Point-in-time
Foreign currency translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$1.13M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$-65.19M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$-75.19M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$16.34M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.60M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$18.61M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$7.43M	USD	Point-in-time

Income Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	-	USD	3 Qtrs
Net sales	`SalesRevenueNet`	-	USD	1 Quarter
Net sales	`SalesRevenueNet`	-	USD	3 Qtrs
Net sales	`SalesRevenueNet`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	3 Qtrs
Gross profit	`GrossProfit`	-	USD	3 Qtrs
Gross profit	`GrossProfit`	-	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.43M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.25M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.00M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.50M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$5.75M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$7.94M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.80M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.27M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.30M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$10.76M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$4.70M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$11.19M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-4.70M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-11.19M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-10.76M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-3.30M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$228.00K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$31.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$30.00K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$1.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-4.67M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-10.73M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-10.96M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.30M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-730.00K	USD	3 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	$-730.00K	USD	Point-in-time
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-10.00M	USD	3 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-10.96M	USD	3 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-4.67M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.30M	USD	1 Quarter
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-2.09	USD	3 Qtrs
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`	$-0.84	USD	1 Quarter
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.49	USD	3 Qtrs
Weighted average shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.79M	shares	1 Quarter
Weighted average shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	5.58M	shares	1 Quarter
Weighted average shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	5.25M	shares	3 Qtrs
Weighted average shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	6.73M	shares	3 Qtrs
Weighted average shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.25M	shares	3 Qtrs
Weighted average shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.73M	shares	3 Qtrs
Weighted average shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.58M	shares	1 Quarter
Weighted average shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.79M	shares	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-3.31M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-10.92M	USD	3 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-4.81M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-9.95M	USD	3 Qtrs

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-10.00M	USD	3 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-10.96M	USD	3 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-4.67M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$98.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$36.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$25.00K	USD	3 Qtrs
Loss on disposal of plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-63.00K	USD	3 Qtrs
Loss on disposal of plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-6.00K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$555.00K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$907.00K	USD	3 Qtrs
Expense for warrants issued in conjunction with service agreement	`AdjustmentOfWarrantsGrantedForServices`	$160.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-259.00K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$321.00K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$24.00K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-574.00K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$480.00K	USD	3 Qtrs
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-9.66M	USD	3 Qtrs
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-9.67M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$34.00K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$132.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-132.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-34.00K	USD	3 Qtrs
Net proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$18.55M	USD	Point-in-time
Net proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$7.65M	USD	3 Qtrs
Net proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$20.62M	USD	3 Qtrs
Net proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$2.06M	USD	Point-in-time
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$20.62M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$7.65M	USD	3 Qtrs
Effect of exchange rate changes in cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$61.00K	USD	3 Qtrs
Effect of exchange rate changes in cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$38.00K	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-2.01M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$10.88M	USD	3 Qtrs
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.35M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.34M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$17.45M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.56M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$17.45M	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`	$10.34M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$6.56M	USD	Point-in-time

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