10-Q Filing

Nuwellis, Inc. CIK: 1506492 Q3 2014

Filing Information

Form Type	10-Q
Accession Number	`0001104659-14-075588`
Period End Date	20140930
Filing Date	20141031
Fiscal Year	2014
Fiscal Period	Q3
XBRL Instance	ssh-20140930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 44 Income Statement 51 Cash Flow Statement 39

Balance Sheet 44 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$59.81M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.22M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$36.58M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$54.14M	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
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
Other current assets	`OtherAssetsCurrent`	$563.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$448.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$54.64M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	16.92M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	16.83M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$37.20M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$594.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	16.92M	shares	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
TOTAL ASSETS	`Assets`	$37.79M	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`	$1.81M	USD	Point-in-time
Accrued salaries, wages, and other compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.31M	USD	Point-in-time
Accrued salaries, wages, and other compensation	`EmployeeRelatedLiabilitiesCurrent`	$917.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.73M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.73M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock as of September 30, 2014 and December 31, 2013, par value $0.0001 per share; authorized 100,000,000 shares: issued and outstanding 16,919,847 and 16,825,284 shares, respectively	`CommonStockValue`	$2.00K	USD	Point-in-time
Common stock as of September 30, 2014 and December 31, 2013, par value $0.0001 per share; authorized 100,000,000 shares: issued and outstanding 16,919,847 and 16,825,284 shares, respectively	`CommonStockValue`	$2.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$153.71M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$151.53M	USD	Point-in-time
Foreign currency translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$1.20M	USD	Point-in-time
Foreign currency translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$1.21M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-119.86M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-101.01M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$35.06M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$51.73M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$55.23M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$37.79M	USD	Point-in-time

Income Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$59.00K	USD	1 Quarter
Net sales	`SalesRevenueNet`	$59.00K	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$59.00K	USD	1 Quarter
Net sales	`SalesRevenueNet`	$118.00K	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.36M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$6.96M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$6.61M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.49M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.75M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.81M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$9.32M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$12.28M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$6.17M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$15.94M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$19.25M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$6.23M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.17M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-19.13M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-6.11M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-15.88M	USD	3 Qtrs
Other income (expense), net	`NonoperatingIncomeExpense`	$3.00K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$22.00K	USD	3 Qtrs
Other income (expense), net	`NonoperatingIncomeExpense`	$9.00K	USD	3 Qtrs
Other income (expense), net	`NonoperatingIncomeExpense`	$-22.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-6.13M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-6.17M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-19.11M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-15.87M	USD	3 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	$-265.00K	USD	3 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	$-136.00K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-1.21M	USD	3 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.13M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-18.84M	USD	3 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-14.65M	USD	3 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.04M	USD	1 Quarter
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.36	USD	1 Quarter
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.29	USD	3 Qtrs
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`	$-1.12	USD	3 Qtrs
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	16.88M	shares	3 Qtrs
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	12.73M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.35M	shares	3 Qtrs
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	16.90M	shares	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-90.00K	USD	3 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-5.00K	USD	3 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-165.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$17.00K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-18.85M	USD	3 Qtrs
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-6.20M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-14.74M	USD	3 Qtrs
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-6.12M	USD	1 Quarter

Cash Flow Statement 39 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.13M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-18.84M	USD	3 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-14.65M	USD	3 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.04M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$47.00K	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$130.00K	USD	3 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$70.00K	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$198.00K	USD	3 Qtrs
Stock-based compensation expense, net	`ShareBasedCompensation`	$1.92M	USD	3 Qtrs
Stock-based compensation expense, net	`ShareBasedCompensation`	$1.82M	USD	3 Qtrs
Amortization of warrants for service agreements	`AdjustmentOfWarrantsGrantedForServices`	$240.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-59.00K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$207.00K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$179.00K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-429.00K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$946.00K	USD	3 Qtrs
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-11.76M	USD	3 Qtrs
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-17.36M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$205.00K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$82.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-82.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-205.00K	USD	3 Qtrs
Net proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$57.59M	USD	3 Qtrs
Net proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$16.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$16.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$57.59M	USD	3 Qtrs
Effect of exchange rate changes in cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-171.00K	USD	3 Qtrs
Effect of exchange rate changes in cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-14.00K	USD	3 Qtrs
Net increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-17.56M	USD	3 Qtrs
Net increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$45.58M	USD	3 Qtrs
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$59.81M	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`	$36.58M	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`	$36.58M	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`	$59.81M	USD	Point-in-time
Cash and cash equivalents-end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.22M	USD	Point-in-time
Stock options and restricted stock units classified as liabilities, net	`LiabilitiesAssumed1`	$-337.00K	USD	3 Qtrs

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