10-Q Filing

Nuwellis, Inc. CIK: 1506492 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001104659-14-059557`
Period End Date	20140630
Filing Date	20140812
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	ssh-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 43 Income Statement 49 Cash Flow Statement 39

Balance Sheet 43 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$54.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.53M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$42.12M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.22M	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
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$675.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$448.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	16.83M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$42.80M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$54.64M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	16.89M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$572.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	16.89M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	16.83M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$587.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$43.37M	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`	$2.09M	USD	Point-in-time
Accrued salaries, wages, and other compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.31M	USD	Point-in-time
Accrued salaries, wages, and other compensation	`EmployeeRelatedLiabilitiesCurrent`	$757.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.85M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.85M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.50M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock as of June 30, 2014 and December 31, 2013, par value $0.0001 per share; authorized 100,000,000 shares: issued and outstanding 16,891,317 and 16,825,284 shares, respectively	`CommonStockValue`	$2.00K	USD	Point-in-time
Common stock as of June 30, 2014 and December 31, 2013, par value $0.0001 per share; authorized 100,000,000 shares: issued and outstanding 16,891,317 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`	$153.06M	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`	$-113.72M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$51.73M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$40.52M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$43.37M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$55.23M	USD	Point-in-time

Income Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$59.00K	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.15M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.24M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.60M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.13M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$3.15M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$8.48M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$4.41M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$5.58M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$6.66M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.30M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$13.08M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$9.70M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-6.66M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.30M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-13.02M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-9.70M	USD	2 Qtrs
Other income, net	`NonoperatingIncomeExpense`	$6.00K	USD	2 Qtrs
Other income, net	`NonoperatingIncomeExpense`	$11.00K	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$3.00K	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$44.00K	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-5.30M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-9.70M	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-12.98M	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-6.64M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-265.00K	USD	2 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	$-265.00K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-1.08M	USD	2 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	$-1.08M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-12.71M	USD	2 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-4.22M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.38M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-8.62M	USD	2 Qtrs
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.38	USD	1 Quarter
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.35	USD	1 Quarter
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.75	USD	2 Qtrs
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.81	USD	2 Qtrs
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	16.87M	shares	2 Qtrs
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.66M	shares	2 Qtrs
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	16.88M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.91M	shares	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$75.00K	USD	2 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-22.00K	USD	2 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-3.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$83.00K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-6.38M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-12.73M	USD	2 Qtrs
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-8.54M	USD	2 Qtrs
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-4.14M	USD	1 Quarter

Cash Flow Statement 39 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-12.71M	USD	2 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-4.22M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.38M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-8.62M	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$83.00K	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$43.00K	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$128.00K	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$67.00K	USD	1 Quarter
Stock-based compensation expense, net	`ShareBasedCompensation`	$838.00K	USD	2 Qtrs
Stock-based compensation expense, net	`ShareBasedCompensation`	$1.32M	USD	2 Qtrs
Amortization of warrants for service agreements	`AdjustmentOfWarrantsGrantedForServices`	$240.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$59.00K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$319.00K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$371.00K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$258.00K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-399.00K	USD	2 Qtrs
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-7.57M	USD	2 Qtrs
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-11.92M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$17.00K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$113.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-17.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-113.00K	USD	2 Qtrs
Net proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$16.00K	USD	2 Qtrs
Net proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$14.91M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$16.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$14.91M	USD	2 Qtrs
Effect of exchange rate changes in cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-20.00K	USD	2 Qtrs
Effect of exchange rate changes in cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$8.00K	USD	2 Qtrs
Net decrease in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$7.30M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-12.01M	USD	2 Qtrs
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$54.14M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.53M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$42.12M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.22M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$42.12M	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`	$54.14M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$21.53M	USD	Point-in-time
Stock options and restricted stock units classified as liabilities, net	`LiabilitiesAssumed1`	$-286.00K	USD	2 Qtrs

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