10-Q Filing

Nuwellis, Inc. CIK: 1506492 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001104659-16-118213`
Period End Date	20160331
Filing Date	20160505
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	ssh-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 27 Cash Flow Statement 40

Balance Sheet 50 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$31.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$37.03M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.11M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.47M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$547.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$479.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$17.02M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$23.59M	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$462.00K	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$535.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	18.34M	shares	Point-in-time
Other Assets	`OtherAssets`	$323.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	18.37M	shares	Point-in-time
Other Assets	`OtherAssets`	$299.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	18.34M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$24.45M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	18.37M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$17.78M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$3.87M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$3.80M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.83M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.41M	USD	Point-in-time
Accrued salaries, wages, and other compensation	`EmployeeRelatedLiabilitiesCurrent`	$555.00K	USD	Point-in-time
Accrued salaries, wages, and other compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.37M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.83M	USD	Point-in-time
Long-term debt, net of discount	`LongTermDebt`	$2.93M	USD	Point-in-time
Long-term debt, net of discount	`LongTermDebt`	$3.88M	USD	Point-in-time
Other Liabilities	`OtherLiabilitiesNoncurrent`	$400.00K	USD	Point-in-time
Other Liabilities	`OtherLiabilitiesNoncurrent`	$400.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$12.28M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.17M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock as of March 31, 2016 and December 31, 2015, par value $0.0001 per share; authorized 100,000,000 shares: issued and outstanding 18,368,849 and 18,344,478, respectively	`CommonStockValue`	$2.00K	USD	Point-in-time
Common stock as of March 31, 2016 and December 31, 2015, par value $0.0001 per share; authorized 100,000,000 shares: issued and outstanding 18,368,849 and 18,344,478, respectively	`CommonStockValue`	$2.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$164.10M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$164.34M	USD	Point-in-time
Foreign currency translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$1.24M	USD	Point-in-time
Foreign currency translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$1.25M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-153.18M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-157.97M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$12.17M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$7.61M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$17.78M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$24.45M	USD	Point-in-time

Income Statement 27 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$59.00K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.35M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.19M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$4.87M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.21M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.55M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$7.05M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.99M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.55M	USD	1 Quarter
Interest expense	`InterestExpense`	$63.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$229.00K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$1.00K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$-3.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-7.06M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-4.78M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$5.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$3.00K	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-4.79M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-7.06M	USD	1 Quarter
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.40	USD	1 Quarter
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.26	USD	1 Quarter
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.51M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	18.35M	shares	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-4.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$10.00K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-4.79M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-7.05M	USD	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-4.79M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-7.06M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$81.00K	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$80.00K	USD	1 Quarter
Stock-based compensation expense, net	`ShareBasedCompensation`	$743.00K	USD	1 Quarter
Stock-based compensation expense, net	`ShareBasedCompensation`	$231.00K	USD	1 Quarter
Amortization of debt discount and financing fees	`AmortizationOfDebtDiscountPremium`	$84.00K	USD	1 Quarter
Amortization of debt discount and financing fees	`AmortizationOfDebtDiscountPremium`	$14.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$67.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$561.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$135.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-2.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-162.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.24M	USD	1 Quarter
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-5.70M	USD	1 Quarter
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-7.08M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$72.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-72.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-8.00K	USD	1 Quarter
Net proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$6.90M	USD	1 Quarter
Proceeds from (repayments on) borrowings on long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$6.00M	USD	1 Quarter
Proceeds from (repayments on) borrowings on long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$-940.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$12.90M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-940.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-12.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$1.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.64M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.73M	USD	1 Quarter
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.47M	USD	Point-in-time
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$23.11M	USD	Point-in-time
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$31.29M	USD	Point-in-time
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$37.03M	USD	Point-in-time
Cash and cash equivalents-end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.47M	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`	$37.03M	USD	Point-in-time
Cash and cash equivalents-end of period	`CashAndCashEquivalentsAtCarryingValue`	$23.11M	USD	Point-in-time
Warrants issued in connection with debt financing	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	$266.00K	USD	1 Quarter
Interest paid on debt borrowings	`InterestPaid`	$6.00K	USD	1 Quarter
Interest paid on debt borrowings	`InterestPaid`	$136.00K	USD	1 Quarter

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