10-Q Filing

Nuwellis, Inc. CIK: 1506492 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001140361-18-022659`
Period End Date	20180331
Filing Date	20180510
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	chfs-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 34 Cash Flow Statement 50

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.60M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	39.97M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.32M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.50M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	39.97M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.66M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$545.00K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$658.00K	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventory	`InventoryNet`	$1.59M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventory	`InventoryNet`	$2.52M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$130.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$136.00K	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
Total current assets	`AssetsCurrent`	$17.86M	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 current assets	`AssetsCurrent`	$13.82M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	4.25M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	3.80M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$573.00K	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$570.00K	USD	Point-in-time
Other assets	`OtherAssets`	$21.00K	USD	Point-in-time
Other assets	`OtherAssets`	$21.00K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	3.80M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.25M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$14.41M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$18.45M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$862.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.05M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.02M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$650.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$198.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$208.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.90M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.09M	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`	$2.02M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.22M	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 March 31, 2018 and December 31, 2017, par value $0.0001 per share; authorized 100,000,000 shares, issued and outstanding 4,252,134 and 3,798,929, respectively	`CommonStockValue`	-	USD	Point-in-time
Common stock as of March 31, 2018 and December 31, 2017, par value $0.0001 per share; authorized 100,000,000 shares, issued and outstanding 4,252,134 and 3,798,929, respectively	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$197.87M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$197.37M	USD	Point-in-time
Foreign currency translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$1.23M	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`	$-186.71M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$12.39M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$16.24M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$18.45M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$14.41M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$901.00K	USD	1 Quarter
Net sales	`SalesRevenueNet`	$1.04M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$901.00K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$514.00K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.39M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.01M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$308.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$479.00K	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$3.21M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$5.39M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.31M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.35M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncome`	-	USD	1 Quarter
Other income, net	`OtherNonoperatingIncome`	$6.00K	USD	1 Quarter
Warrant valuation expense	`WarrantValuationExpense`	-	USD	1 Quarter
Warrant valuation expense	`WarrantValuationExpense`	$67.00K	USD	1 Quarter
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$-1.43M	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$1.37M	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.35M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-940.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-940.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.35M	USD	1 Quarter
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.08	USD	1 Quarter
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-35.05	USD	1 Quarter
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	4.03M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	79,000.00	shares	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$1.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-1.00K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-4.35M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-941.00K	USD	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-940.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.35M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$54.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$215.00K	USD	1 Quarter
Stock based compensation expense, net	`ShareBasedCompensation`	$500.00K	USD	1 Quarter
Stock based compensation expense, net	`ShareBasedCompensation`	$166.00K	USD	1 Quarter
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$-1.43M	USD	1 Quarter
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Warrant valuation expense	`WarrantValuationExpense`	-	USD	1 Quarter
Warrant valuation expense	`WarrantValuationExpense`	$67.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$124.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$113.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$153.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$937.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-49.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-6.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-192.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$535.00K	USD	1 Quarter
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivities`	$-1.61M	USD	1 Quarter
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivities`	$-5.04M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$57.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-57.00K	USD	1 Quarter
Net proceeds from the sale of preferred stock and warrants	`ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants`	-	USD	1 Quarter
Net proceeds from the sale of preferred stock and warrants	`ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants`	$3.80M	USD	Point-in-time
Net proceeds from the sale of preferred stock and warrants	`ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants`	$184.00K	USD	1 Quarter
Net proceeds from the sale of preferred stock and warrants	`ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants`	$3.50M	USD	Point-in-time
Net proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	-	USD	1 Quarter
Net proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$1.77M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.95M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$2.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	-	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.09M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$338.00K	USD	1 Quarter
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.50M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.66M	USD	Point-in-time
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 - end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.60M	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`	$10.50M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.66M	USD	Point-in-time
Warrants issued as inducement to warrant exercise	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	-	USD	1 Quarter
Warrants issued as inducement to warrant exercise	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	$509.00K	USD	1 Quarter
Conversion of temporary equity to permanent equity	`ConversionOfTemporaryEquityToPermanentEquity`	-	USD	1 Quarter
Conversion of temporary equity to permanent equity	`ConversionOfTemporaryEquityToPermanentEquity`	$485.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter

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