10-Q Filing

Nuwellis, Inc. CIK: 1506492 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001104659-15-056235`
Period End Date	20150630
Filing Date	20150805
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	ssh-20150630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 47 Income Statement 50 Cash Flow Statement 41

Balance Sheet 47 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$33.42M	USD	Point-in-time
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`	$42.12M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$59.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$767.00K	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`	$360.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$31.71M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$34.19M	USD	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`	$598.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	18.31M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	16.98M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	18.31M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$129.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$34.91M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$32.37M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$1.90M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.46M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.08M	USD	Point-in-time
Accrued salaries, wages, and other compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.24M	USD	Point-in-time
Accrued salaries, wages, and other compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.08M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.59M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.16M	USD	Point-in-time
Long-term debt, net of discount	`LiabilitiesNoncurrent`	-	USD	Point-in-time
Long-term debt, net of discount	`LiabilitiesNoncurrent`	$5.80M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.16M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.39M	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, 2015 and December 31, 2014, par value $0.0001 per share; authorized 100,000,000 shares: issued and outstanding 18,311,490 and 16,982,642, respectively	`CommonStockValue`	$2.00K	USD	Point-in-time
Common stock as of June 30, 2015 and December 31, 2014, par value $0.0001 per share; authorized 100,000,000 shares: issued and outstanding 18,311,490 and 16,982,642, respectively	`CommonStockValue`	$2.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$163.28M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$154.54M	USD	Point-in-time
Foreign currency translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$1.27M	USD	Point-in-time
Foreign currency translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$1.27M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-126.60M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-140.02M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$24.52M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$29.21M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$32.37M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$34.91M	USD	Point-in-time

Income Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$59.00K	USD	2 Qtrs
Net sales	`SalesRevenueNet`	$59.00K	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.53M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.24M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.35M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.60M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$8.86M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$3.99M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$8.48M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$4.41M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$13.08M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$6.66M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.34M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$13.39M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-13.02M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-13.33M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-6.66M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.34M	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$-217.00K	USD	2 Qtrs
Other income (expense), net	`NonoperatingIncomeExpense`	$-151.00K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$11.00K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$44.00K	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-6.64M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-12.98M	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-6.49M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-13.55M	USD	2 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	$-265.00K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-265.00K	USD	2 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	$-127.00K	USD	2 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	$-132.00K	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.38M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.36M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-13.42M	USD	2 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-12.71M	USD	2 Qtrs
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`	$-0.75	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
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`	16.88M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.90M	shares	2 Qtrs
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	18.30M	shares	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-3.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-16.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-6.00K	USD	2 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-22.00K	USD	2 Qtrs
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-6.38M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-12.73M	USD	2 Qtrs
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-6.37M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-13.43M	USD	2 Qtrs

Cash Flow Statement 41 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.38M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.36M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-13.42M	USD	2 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-12.71M	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$128.00K	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$158.00K	USD	2 Qtrs
Stock-based compensation expense, net	`ShareBasedCompensation`	$1.32M	USD	2 Qtrs
Stock-based compensation expense, net	`ShareBasedCompensation`	$1.33M	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$51.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-59.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-59.00K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$319.00K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$407.00K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$129.00K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-399.00K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-446.00K	USD	2 Qtrs
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-12.81M	USD	2 Qtrs
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-11.92M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$95.00K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$113.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-95.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-113.00K	USD	2 Qtrs
Net proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$7.05M	USD	2 Qtrs
Net proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$16.00K	USD	2 Qtrs
Proceeds from borrowings on long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$8.00M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$15.05M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$16.00K	USD	2 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-25.00K	USD	2 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$8.00K	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.13M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-12.01M	USD	2 Qtrs
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$42.12M	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`	$33.42M	USD	Point-in-time
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$31.29M	USD	Point-in-time
Cash and cash equivalents-end of period	`CashAndCashEquivalentsAtCarryingValue`	$33.42M	USD	Point-in-time
Cash and cash equivalents-end of period	`CashAndCashEquivalentsAtCarryingValue`	$31.29M	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`	$42.12M	USD	Point-in-time
Stock options and restricted stock units classified as liabilities, net	`LiabilitiesAssumed1`	$-286.00K	USD	2 Qtrs
Warrants issued in connection with debt financing	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	$355.00K	USD	2 Qtrs

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