10-Q Filing

Nuwellis, Inc. CIK: 1506492 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001104659-14-037895`
Period End Date	20140331
Filing Date	20140513
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	ssh-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 44 Income Statement 23 Cash Flow Statement 34

Balance Sheet 44 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.22M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.97M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$47.42M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$54.14M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$59.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$59.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$448.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$824.00K	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
Total current assets	`AssetsCurrent`	$48.30M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$54.64M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	16.88M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	16.83M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$572.00K	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$587.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	16.83M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	16.88M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$48.88M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$55.23M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.19M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.03M	USD	Point-in-time
Accrued salaries, wages, and other compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.31M	USD	Point-in-time
Accrued salaries, wages, and other compensation	`EmployeeRelatedLiabilitiesCurrent`	$637.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.67M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.67M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock as of March 31, 2014 and December 31, 2013, par value $0.0001 per share; authorized 100,000,000 shares: issued and outstanding 16,875,116 and 16,825,284 shares, respectively	`CommonStockValue`	$2.00K	USD	Point-in-time
Common stock as of March 31, 2014 and December 31, 2013, par value $0.0001 per share; authorized 100,000,000 shares: issued and outstanding 16,875,116 and 16,825,284 shares, respectively	`CommonStockValue`	$2.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$151.53M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$152.36M	USD	Point-in-time
Foreign currency translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$1.21M	USD	Point-in-time
Foreign currency translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$1.19M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-101.01M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-107.34M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$51.73M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$46.21M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$48.88M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$55.23M	USD	Point-in-time

Income Statement 23 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$59.00K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.98M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.36M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.43M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$4.06M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.40M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.42M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.37M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.40M	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$33.00K	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$3.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-4.40M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-6.33M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.33M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-4.40M	USD	1 Quarter
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.47	USD	1 Quarter
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.38	USD	1 Quarter
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	16.86M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.42M	shares	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-19.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-8.00K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-6.35M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-4.41M	USD	1 Quarter

Cash Flow Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.33M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-4.40M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$40.00K	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$61.00K	USD	1 Quarter
Stock-based compensation expense, net	`ShareBasedCompensation`	$367.00K	USD	1 Quarter
Stock-based compensation expense, net	`ShareBasedCompensation`	$632.00K	USD	1 Quarter
Amortization of warrants for service agreements	`AdjustmentOfWarrantsGrantedForServices`	$120.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$171.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$468.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-580.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-71.00K	USD	1 Quarter
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-4.11M	USD	1 Quarter
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-6.69M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$46.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-46.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-9.00K	USD	1 Quarter
Net proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$16.00K	USD	1 Quarter
Net proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$874.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$16.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$874.00K	USD	1 Quarter
Effect of exchange rate changes in cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$2.00K	USD	1 Quarter
Effect of exchange rate changes in cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-5.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-3.25M	USD	1 Quarter
Net decrease in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-6.71M	USD	1 Quarter
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.22M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.97M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$47.42M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$54.14M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$47.42M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$54.14M	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`	$10.97M	USD	Point-in-time
Stock options and restricted stock units classified as liabilities, net	`LiabilitiesAssumed1`	$-278.00K	USD	1 Quarter

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