10-K Filing

Nuwellis, Inc. CIK: 1506492 FY 2017

Filing Information

Form Type	10-K
Accession Number	`0001140361-18-014681`
Period End Date	20171231
Filing Date	20180322
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	chfs-20171231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 40 Cash Flow Statement 64 Stockholders Equity 18

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.32M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.60M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.11M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$282.00K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$545.00K	USD	Point-in-time
Inventories	`InventoryNet`	$677.00K	USD	Point-in-time
Inventories	`InventoryNet`	$1.59M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$136.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$137.00K	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$17.86M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.42M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$540.00K	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	39.96M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	39.97M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$570.00K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	-	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$4.30M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Goodwill	`Goodwill`	-	USD	Point-in-time
Goodwill	`Goodwill`	$189.00K	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other assets	`OtherAssets`	$21.00K	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 assets	`OtherAssets`	$21.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$7.47M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$18.45M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	3.80M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	38,862.00	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	3.80M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	38,862.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$862.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.99M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$909.00K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.02M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$364.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$208.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.09M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.26M	USD	Point-in-time
Common stock warrant liability	`WarrantsAndRightsOutstanding`	-	USD	Point-in-time
Common stock warrant liability	`WarrantsAndRightsOutstanding`	$1.84M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$126.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$126.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.22M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.23M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Common stock as of December 31, 2017 and December 31, 2016, par value $0.0001 per share; authorized 100,000,000 shares, issued and outstanding 3,798,929 and 38,862, respectively	`CommonStockValue`	-	USD	Point-in-time
Common stock as of December 31, 2017 and December 31, 2016, par value $0.0001 per share; authorized 100,000,000 shares, issued and outstanding 3,798,929 and 38,862, respectively	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$169.50M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$197.37M	USD	Point-in-time
Foreign currency translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$1.24M	USD	Point-in-time
Foreign currency translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$1.23M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-182.36M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-168.97M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$16.24M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.76M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$12.17M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$7.47M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$18.45M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$3.55M	USD	Annual
Net sales	`SalesRevenueNet`	$1.29M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$713.00K	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$2.76M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$8.13M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$10.17M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$8.11M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$1.48M	USD	Annual
Goodwill and intangibles impairment	`GoodwillAndIntangibleAssetImpairment`	-	USD	Annual
Goodwill and intangibles impairment	`GoodwillAndIntangibleAssetImpairment`	$3.95M	USD	Annual
Total costs and expenses	`OperatingExpenses`	$16.95M	USD	Annual
Total costs and expenses	`OperatingExpenses`	$18.36M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-15.66M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-14.81M	USD	Annual
Interest expense	`NonoperatingInterestExpense`	$504.00K	USD	Annual
Interest expense	`NonoperatingInterestExpense`	-	USD	Annual
Loss on early retirement of long-term debt	`ExtinguishmentOfDebtGainLossNetOfTax`	$-500.00K	USD	Annual
Loss on early retirement of long-term debt	`ExtinguishmentOfDebtGainLossNetOfTax`	-	USD	Annual
Other income, net	`OtherNonoperatingIncome`	$28.00K	USD	Annual
Other income, net	`OtherNonoperatingIncome`	$2.00K	USD	Annual
Warrant valuation expense	`WarrantValuationExpense`	-	USD	Annual
Warrant valuation expense	`WarrantValuationExpense`	$67.00K	USD	Annual
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$-1.48M	USD	Annual
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$-818.00K	USD	Annual
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-184.00K	USD	Annual
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$1.44M	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-13.38M	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-15.85M	USD	Annual
Income tax (expense) benefit, net	`IncomeTaxExpenseBenefit`	$6.00K	USD	Annual
Income tax (expense) benefit, net	`IncomeTaxExpenseBenefit`	$-54.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-13.38M	USD	Annual
Net loss	`NetIncomeLoss`	$-15.79M	USD	Annual
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-536.12	USD	Annual
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-37.51	USD	Annual
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	665,000.00	shares	Annual
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	33,000.00	shares	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-8.00K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-11.00K	USD	Annual
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-15.80M	USD	Annual
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-13.39M	USD	Annual

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-13.38M	USD	Annual
Net loss	`NetIncomeLoss`	$-15.79M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$697.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$769.00K	USD	Annual
Stock based compensation expense, net	`ShareBasedCompensation`	$499.00K	USD	Annual
Stock based compensation expense, net	`ShareBasedCompensation`	$949.00K	USD	Annual
Amortization of debt discount and financing fees	`AmortizationOfDebtDiscountPremium`	$187.00K	USD	Annual
Amortization of debt discount and financing fees	`AmortizationOfDebtDiscountPremium`	-	USD	Annual
Goodwill and intangibles impairment	`GoodwillAndIntangibleAssetImpairment`	$3.95M	USD	Annual
Goodwill and intangibles impairment	`GoodwillAndIntangibleAssetImpairment`	-	USD	Annual
Loss on retirement of long-term debt	`ExtinguishmentOfDebtGainLossNetOfTax`	$-500.00K	USD	Annual
Loss on retirement of long-term debt	`ExtinguishmentOfDebtGainLossNetOfTax`	-	USD	Annual
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$-1.48M	USD	Annual
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$-818.00K	USD	Annual
Warrant valuation expense	`WarrantValuationExpense`	$67.00K	USD	Annual
Warrant valuation expense	`WarrantValuationExpense`	-	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$263.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$282.00K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$677.00K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$911.00K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-1.00K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-342.00K	USD	Annual
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	-	USD	Annual
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$464.00K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.18M	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-934.00K	USD	Annual
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivities`	$-11.92M	USD	Annual
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivities`	$-16.29M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$117.00K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$259.00K	USD	Annual
Purchase of Aquadex product line	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$4.00M	USD	Annual
Purchase of Aquadex product line	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-259.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.12M	USD	Annual
Net proceeds from public stock offerings	`ProceedsFromIssuanceInitialPublicOffering`	-	USD	Annual
Net proceeds from public stock offerings	`ProceedsFromIssuanceInitialPublicOffering`	$24.28M	USD	Annual
Net proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$1.99M	USD	Annual
Net proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	-	USD	Annual
Net proceeds from the sale of preferred stock, common stock and warrants	`ProceedsFromIssuanceOrSaleOfEquity`	$184.00K	USD	Annual
Net proceeds from the sale of preferred stock, common stock and warrants	`ProceedsFromIssuanceOrSaleOfEquity`	$6.64M	USD	Annual
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	-	USD	Annual
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$8.00M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.36M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$26.45M	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-17.00K	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-3.00K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-21.79M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$14.27M	USD	Annual
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.32M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.60M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$23.11M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.32M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.60M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$23.11M	USD	Point-in-time
Warrants issued as inducement to warrant exercise	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	-	USD	Annual
Warrants issued as inducement to warrant exercise	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	$509.00K	USD	Annual
Conversion of temporary equity to permanent equity	`ConversionOfTemporaryEquityToPermanentEquity`	$485.00K	USD	Annual
Conversion of temporary equity to permanent equity	`ConversionOfTemporaryEquityToPermanentEquity`	-	USD	Annual
Common stock issued for business acquisition	`StockIssued1`	$950.00K	USD	Annual
Common stock issued for business acquisition	`StockIssued1`	-	USD	Annual
Interest paid on debt borrowings	`InterestPaidNet`	-	USD	Annual
Interest paid on debt borrowings	`InterestPaidNet`	$840.00K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaidNet`	$47.00K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaidNet`	$6.00K	USD	Annual

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$16.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.76M	USD	Point-in-time
Balance	`StockholdersEquity`	$12.17M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-13.38M	USD	Annual
Net loss	`NetIncomeLoss`	$-15.79M	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-8.00K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-11.00K	USD	Annual
Stock based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$949.00K	USD	Annual
Stock based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$499.00K	USD	Annual
Issuance of common stock, net	`StockIssuedDuringPeriodValueNewIssues`	$5.40M	USD	Annual
Issuance of preferred stock, net	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$4.44M	USD	Annual
Issuance of preferred stock, net	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$21.97M	USD	Annual
Issuance of common stock for acquisition	`StockIssuedDuringPeriodValueAcquisitions`	-	USD	Annual
Conversion of preferred stock into common stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	Annual
Conversion of preferred stock into common stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	Annual
Balance	`StockholdersEquity`	$1.76M	USD	Point-in-time
Balance	`StockholdersEquity`	$16.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$12.17M	USD	Point-in-time

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