10-K Filing

Nuwellis, Inc. CIK: 1506492 FY 2014

Filing Information

Form Type	10-K
Accession Number	`0001104659-15-021363`
Period End Date	20141231
Filing Date	20150320
Fiscal Year	2014
Fiscal Period	FY
XBRL Instance	ssh-20141231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 44 Income Statement 26 Cash Flow Statement 35 Stockholders Equity 23

Balance Sheet 44 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$31.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$54.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.22M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$59.00K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$59.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$360.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$448.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$31.71M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$54.64M	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`	16.98M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$661.00K	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$587.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	16.83M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$55.23M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$32.37M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	16.98M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	16.83M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.19M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.08M	USD	Point-in-time
Accrued salaries, wages, and other compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.31M	USD	Point-in-time
Accrued salaries, wages, and other compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.08M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.16M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.16M	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock as of December 31, 2014 and December 31, 2013, par value $0.0001 per share; authorized 100,000,000 shares; issued and outstanding 16,982,642 and 16,825,284, respectively	`CommonStockValue`	$2.00K	USD	Point-in-time
Common stock as of December 31, 2014 and December 31, 2013, par value $0.0001 per share; authorized 100,000,000 shares; issued and outstanding 16,982,642 and 16,825,284, respectively	`CommonStockValue`	$2.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$154.54M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$151.53M	USD	Point-in-time
Foreign currency translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$1.27M	USD	Point-in-time
Foreign currency translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$1.21M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-126.60M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-101.01M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$51.73M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$29.21M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$12.95M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$32.37M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$55.23M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$59.00K	USD	Annual
Net sales	`SalesRevenueNet`	$295.00K	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$9.21M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$9.43M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$13.50M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$16.87M	USD	Annual
Total operating expenses	`OperatingExpenses`	$26.08M	USD	Annual
Total operating expenses	`OperatingExpenses`	$22.93M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-22.87M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-25.79M	USD	Annual
Other expense, net	`NonoperatingIncomeExpense`	$-100.00K	USD	Annual
Other expense, net	`NonoperatingIncomeExpense`	$-49.00K	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-25.84M	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-22.97M	USD	Annual
Income tax benefit, net	`IncomeTaxExpenseBenefit`	$-1.21M	USD	Annual
Income tax benefit, net	`IncomeTaxExpenseBenefit`	$-249.00K	USD	Annual
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-21.76M	USD	Annual
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-25.59M	USD	Annual
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.71	USD	Annual
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.51	USD	Annual
Weighted average shares outstanding-basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	16.90M	shares	Annual
Weighted average shares outstanding-basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	12.72M	shares	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$22.00K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$65.00K	USD	Annual
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-25.52M	USD	Annual
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-21.74M	USD	Annual

Cash Flow Statement 35 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-21.76M	USD	Annual
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-25.59M	USD	Annual
Depreciation	`DepreciationDepletionAndAmortization`	$185.00K	USD	Annual
Depreciation	`DepreciationDepletionAndAmortization`	$277.00K	USD	Annual
Stock based compensation expense, net	`ShareBasedCompensation`	$2.95M	USD	Annual
Stock based compensation expense, net	`ShareBasedCompensation`	$2.68M	USD	Annual
Amortization of warrants for service agreements	`AdjustmentOfWarrantsGrantedForServices`	$239.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$59.00K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$5.00K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$22.00K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-7.00K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.10M	USD	Annual
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-22.64M	USD	Annual
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-17.36M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$351.00K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$293.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-351.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-293.00K	USD	Annual
Net proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$14.04M	USD	Point-in-time
Net proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$57.57M	USD	Annual
Net proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$89.00K	USD	Annual
Net proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$42.67M	USD	Point-in-time
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$57.57M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$89.00K	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$1.00K	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$63.00K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-22.84M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$39.91M	USD	Annual
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$31.29M	USD	Point-in-time
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$54.14M	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`	$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`	$31.29M	USD	Point-in-time
Stock options and restricted stock units classified as liabilities, net	`LiabilitiesAssumed1`	$206.00K	USD	Annual

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$51.73M	USD	Point-in-time
Balance	`StockholdersEquity`	$29.21M	USD	Point-in-time
Balance	`StockholdersEquity`	$12.95M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	16.98M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	16.83M	shares	Point-in-time
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-21.76M	USD	Annual
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-25.59M	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$22.00K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$65.00K	USD	Annual
Stock based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$2.80M	USD	Annual
Stock based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$2.68M	USD	Annual
Reclassification of stock options as liability awards	`AdjustmentsToAdditionalPaidInCapitalReclassificationOfStockOptionsToLiabilities`	$95.00K	USD	Annual
Settlement of liability awards	`AdjustmentsToAdditionalPaidInCapitalSettlementOfLiabilityAwards`	$243.00K	USD	Annual
Issuance of common stock, net	`StockIssuedDuringPeriodValueNewIssues`	$57.57M	USD	Annual
Issuance of common stock, net	`StockIssuedDuringPeriodValueNewIssues`	$89.00K	USD	Annual
Issuance of common stock, net (in shares)	`StockIssuedDuringPeriodSharesNewIssues`	4.38M	shares	Point-in-time
Issuance of common stock, net (in shares)	`StockIssuedDuringPeriodSharesNewIssues`	2.88M	shares	Point-in-time
Issuance of warrants for service agreement	`StockIssuedDuringPeriodValueOfWarrantsIssuedForServiceAgreement`	$239.00K	USD	Annual
Balance	`StockholdersEquity`	$51.73M	USD	Point-in-time
Balance	`StockholdersEquity`	$29.21M	USD	Point-in-time
Balance	`StockholdersEquity`	$12.95M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	16.98M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	16.83M	shares	Point-in-time

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