10-Q Filing

Nuwellis, Inc. CIK: 1506492 Q3 2015

Filing Information

Form Type	10-Q
Accession Number	`0001104659-15-076146`
Period End Date	20150930
Filing Date	20151105
Fiscal Year	2015
Fiscal Period	Q3
XBRL Instance	ssh-20150930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 50 Cash Flow Statement 40

Balance Sheet 46 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$54.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$31.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.90M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$36.58M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$59.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$765.00K	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`	$28.66M	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
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`	$595.00K	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$661.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	18.34M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	18.34M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	16.98M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$108.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$32.37M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$29.37M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$2.87M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableCurrent`	$2.33M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableCurrent`	$2.08M	USD	Point-in-time
Accrued salaries, wages, and other compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.08M	USD	Point-in-time
Accrued salaries, wages, and other compensation	`EmployeeRelatedLiabilitiesCurrent`	$856.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.16M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.05M	USD	Point-in-time
Long-term debt, net of discount	`LiabilitiesNoncurrent`	$4.88M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.93M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.16M	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, 2015 and December 31, 2014, par value $0.0001 per share; authorized 100,000,000 shares: issued and outstanding 18,337,683 and 16,982,642, respectively	`CommonStockValue`	$2.00K	USD	Point-in-time
Common stock as of September 30, 2015 and December 31, 2014, par value $0.0001 per share; authorized 100,000,000 shares: issued and outstanding 18,337,683 and 16,982,642, respectively	`CommonStockValue`	$2.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$163.76M	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`	$1.25M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-126.60M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-146.58M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$18.43M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$29.21M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$29.37M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$32.37M	USD	Point-in-time

Income Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$118.00K	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$59.00K	USD	1 Quarter
Net sales	`SalesRevenueNet`	$59.00K	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`	$1.73M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$6.26M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$12.28M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$3.81M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$13.40M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$4.55M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$19.25M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$6.27M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$19.66M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$6.17M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.11M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-19.13M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-19.60M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-6.27M	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$-282.00K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$-499.00K	USD	3 Qtrs
Other income (expense), net	`NonoperatingIncomeExpense`	$22.00K	USD	3 Qtrs
Other income (expense), net	`NonoperatingIncomeExpense`	$-22.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-6.55M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-20.10M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-19.11M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-6.13M	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$-124.00K	USD	3 Qtrs
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$3.00K	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$-265.00K	USD	3 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-19.98M	USD	3 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-18.84M	USD	3 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.13M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.56M	USD	1 Quarter
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.11	USD	3 Qtrs
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`	$-1.12	USD	3 Qtrs
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.36	USD	1 Quarter
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`	16.90M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	18.05M	shares	3 Qtrs
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	18.33M	shares	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$17.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-22.00K	USD	3 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-5.00K	USD	3 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-16.00K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-18.85M	USD	3 Qtrs
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-20.00M	USD	3 Qtrs
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-6.12M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-6.57M	USD	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-19.98M	USD	3 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-18.84M	USD	3 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.13M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.56M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$241.00K	USD	3 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$198.00K	USD	3 Qtrs
Stock-based compensation expense, net	`ShareBasedCompensation`	$1.92M	USD	3 Qtrs
Stock-based compensation expense, net	`ShareBasedCompensation`	$1.81M	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$102.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-59.00K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$207.00K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$406.00K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$108.00K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-429.00K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$48.00K	USD	3 Qtrs
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-18.23M	USD	3 Qtrs
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-17.36M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$205.00K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$175.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-175.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-205.00K	USD	3 Qtrs
Net proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$16.00K	USD	3 Qtrs
Net proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$7.05M	USD	3 Qtrs
Proceeds from borrowings on long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$8.00M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$16.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$15.05M	USD	3 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-42.00K	USD	3 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-14.00K	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-17.56M	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.39M	USD	3 Qtrs
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$36.58M	USD	Point-in-time
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$27.90M	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`	$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`	$31.29M	USD	Point-in-time
Cash and cash equivalents-end of period	`CashAndCashEquivalentsAtCarryingValue`	$27.90M	USD	Point-in-time
Cash and cash equivalents-end of period	`CashAndCashEquivalentsAtCarryingValue`	$36.58M	USD	Point-in-time
Stock options and restricted stock units classified as liabilities, net	`LiabilitiesAssumed1`	$-337.00K	USD	3 Qtrs
Warrants issued in connection with debt financing	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	$355.00K	USD	3 Qtrs

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