10-K Filing

Nuwellis, Inc. CIK: 1506492 FY 2012

Filing Information

Form Type	10-K
Accession Number	`0001104659-13-019765`
Period End Date	20121231
Filing Date	20130312
Fiscal Year	2012
Fiscal Period	FY
XBRL Instance	ssh-20121231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 25 Cash Flow Statement 33 Stockholders Equity 21

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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.35M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.22M	USD	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.56M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$346.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$333.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	6.02M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.28M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$6.91M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$14.56M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$522.00K	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$479.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	6.02M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.28M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$15.04M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$7.43M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.16M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.86M	USD	Point-in-time
Accrued salaries, wages, and other compensation	`EmployeeRelatedLiabilitiesCurrent`	$931.00K	USD	Point-in-time
Accrued salaries, wages, and other compensation	`EmployeeRelatedLiabilitiesCurrent`	$978.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.09M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.83M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.09M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.83M	USD	Point-in-time
Preferred stock as of December 31, 2012 and December 31, 2011, $0.0001 par value per share; authorized 40,000,000 shares	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock as of December 31, 2012 and December 31, 2011, $0.0001 par value per share; authorized 40,000,000 shares	`PreferredStockValue`	-	USD	Point-in-time
Common stock as of December 31, 2012 and December 31, 2011, par value $0.0001 per share; authorized 100,000,000 shares; issued and outstanding 9,282,724 and 6,019,663, respectively	`CommonStockValue`	$1.00K	USD	Point-in-time
Common stock as of December 31, 2012 and December 31, 2011, par value $0.0001 per share; authorized 100,000,000 shares; issued and outstanding 9,282,724 and 6,019,663, respectively	`CommonStockValue`	$1.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$91.02M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$68.65M	USD	Point-in-time
Foreign currency translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$1.13M	USD	Point-in-time
Foreign currency translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$1.19M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-65.19M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-79.25M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.60M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$12.95M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$12.09M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$15.04M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$7.43M	USD	Point-in-time

Income Statement 25 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	-	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$6.87M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.36M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$8.00M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$11.20M	USD	Annual
Total operating expenses	`OperatingExpenses`	$16.56M	USD	Annual
Total operating expenses	`OperatingExpenses`	$14.87M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-14.87M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-16.56M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$33.00K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$251.00K	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-14.84M	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-16.31M	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-115.00K	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-771.00K	USD	Annual
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-16.20M	USD	Annual
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-14.06M	USD	Annual
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.98	USD	Annual
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-2.98	USD	Annual
Weighted average shares outstanding-basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.10M	shares	Annual
Weighted average shares outstanding-basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.44M	shares	Annual
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$137.00K	USD	Annual
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$53.00K	USD	Annual
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-16.06M	USD	Annual
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-14.01M	USD	Annual

Cash Flow Statement 33 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-16.20M	USD	Annual
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-14.06M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$138.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$50.00K	USD	Annual
Stock based compensation expense	`ShareBasedCompensation`	$939.00K	USD	Annual
Stock based compensation expense	`ShareBasedCompensation`	$1.25M	USD	Annual
Abandonment of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-63.00K	USD	Annual
Amortization of warrants for service agreements	`AdjustmentOfWarrantsGrantedForServices`	$280.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-258.00K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-13.00K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$166.00K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.03M	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-760.00K	USD	Annual
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-13.09M	USD	Annual
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-13.08M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$451.00K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$158.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-158.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-451.00K	USD	Annual
Net proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$7.63M	USD	Annual
Net proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$20.84M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$7.63M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$20.84M	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$126.00K	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$65.00K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-5.79M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$7.66M	USD	Annual
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.35M	USD	Point-in-time
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.22M	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`	$14.22M	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

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$4.60M	USD	Point-in-time
Balance	`StockholdersEquity`	$12.95M	USD	Point-in-time
Balance	`StockholdersEquity`	$12.09M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	6.02M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	9.28M	shares	Point-in-time
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-16.20M	USD	Annual
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-14.06M	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$137.00K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$53.00K	USD	Annual
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-14.01M	USD	Annual
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-16.06M	USD	Annual
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$939.00K	USD	Annual
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.25M	USD	Annual
Issuance of common stock, net	`StockIssuedDuringPeriodValueNewIssues`	$7.63M	USD	Annual
Issuance of common stock, net	`StockIssuedDuringPeriodValueNewIssues`	$20.84M	USD	Annual
Issuance of warrants for service agreement	`StockIssuedDuringPeriodValueOfWarrantsIssuedForServiceAgreement`	$280.00K	USD	Annual
Balance	`StockholdersEquity`	$4.60M	USD	Point-in-time
Balance	`StockholdersEquity`	$12.95M	USD	Point-in-time
Balance	`StockholdersEquity`	$12.09M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	6.02M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	9.28M	shares	Point-in-time

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