10-Q Filing

Nuwellis, Inc. CIK: 1506492 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0001140361-18-042642`
Period End Date	20180930
Filing Date	20181107
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	chfs-20180930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 68 Cash Flow Statement 59

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
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	39.97M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	39.97M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.51M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.60M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.22M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.32M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$545.00K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$787.00K	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventory	`InventoryNet`	$1.59M	USD	Point-in-time
Inventory	`InventoryNet`	$1.95M	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`	$136.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$240.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.20M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	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
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$570.00K	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$573.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	3.80M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	7.07M	shares	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`	7.07M	shares	Point-in-time
Other assets	`OtherAssets`	$21.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$18.45M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$11.79M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$862.00K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$617.00K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.31M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.02M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$208.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$80.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.01M	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`	$2.14M	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 September 30, 2018 and December 31, 2017, par value $0.0001 per share; authorized 100,000,000 shares, issued and outstanding 7,074,407 and 3,798,929, respectively	`CommonStockValue`	-	USD	Point-in-time
Common stock as of September 30, 2018 and December 31, 2017, par value $0.0001 per share; authorized 100,000,000 shares, issued and outstanding 7,074,407 and 3,798,929, respectively	`CommonStockValue`	$1.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$203.56M	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`	$-195.13M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$9.65M	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`	$11.79M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.72M	USD	3 Qtrs
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$957.00K	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.36M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$3.50M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$2.69M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$782.00K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$1.91M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$915.00K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$7.48M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.71M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$11.49M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.67M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$367.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.00M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$2.11M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$985.00K	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$16.28M	USD	3 Qtrs
Total costs and expenses	`OperatingExpenses`	$10.39M	USD	3 Qtrs
Total costs and expenses	`OperatingExpenses`	$3.82M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$5.61M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.25M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.86M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-12.78M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-7.67M	USD	3 Qtrs
Other income, net	`OtherNonoperatingIncome`	$10.00K	USD	3 Qtrs
Other income, net	`OtherNonoperatingIncome`	$10.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncome`	$17.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncome`	$28.00K	USD	3 Qtrs
Warrant valuation expense	`WarrantValuationExpense`	$67.00K	USD	3 Qtrs
Warrant valuation expense	`WarrantValuationExpense`	-	USD	1 Quarter
Warrant valuation expense	`WarrantValuationExpense`	-	USD	3 Qtrs
Warrant valuation expense	`WarrantValuationExpense`	-	USD	1 Quarter
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	-	USD	3 Qtrs
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$-4.00K	USD	1 Quarter
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$-1.47M	USD	3 Qtrs
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Total other income	`OtherNonoperatingIncomeExpense`	$10.00K	USD	1 Quarter
Total other income	`OtherNonoperatingIncomeExpense`	$21.00K	USD	1 Quarter
Total other income	`OtherNonoperatingIncomeExpense`	$10.00K	USD	3 Qtrs
Total other income	`OtherNonoperatingIncomeExpense`	$1.43M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.84M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.24M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-6.24M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-12.77M	USD	3 Qtrs
Income tax expense, net	`IncomeTaxExpenseBenefit`	$5.00K	USD	1 Quarter
Income tax expense, net	`IncomeTaxExpenseBenefit`	$1.00K	USD	1 Quarter
Income tax expense, net	`IncomeTaxExpenseBenefit`	$3.00K	USD	3 Qtrs
Income tax expense, net	`IncomeTaxExpenseBenefit`	$6.00K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-6.25M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.85M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-12.78M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.24M	USD	1 Quarter
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-25.36	USD	3 Qtrs
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.61	USD	1 Quarter
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-2.47	USD	3 Qtrs
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-4.55	USD	1 Quarter
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	359,000.00	shares	3 Qtrs
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.17M	shares	3 Qtrs
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	626,000.00	shares	1 Quarter
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.99M	shares	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-2.00K	USD	3 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-1.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-1.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-7.00K	USD	3 Qtrs
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-4.24M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-2.85M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-6.25M	USD	3 Qtrs
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-12.78M	USD	3 Qtrs

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-12.78M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.24M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.25M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.85M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$174.00K	USD	3 Qtrs
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$656.00K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$1.54M	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$391.00K	USD	3 Qtrs
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$-1.47M	USD	3 Qtrs
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$-4.00K	USD	1 Quarter
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	-	USD	3 Qtrs
Warrant valuation expense	`WarrantValuationExpense`	-	USD	1 Quarter
Warrant valuation expense	`WarrantValuationExpense`	-	USD	3 Qtrs
Warrant valuation expense	`WarrantValuationExpense`	-	USD	1 Quarter
Warrant valuation expense	`WarrantValuationExpense`	$67.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$242.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$498.00K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$660.00K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$360.00K	USD	3 Qtrs
Other current and long-term assets	`IncreaseDecreaseInOtherCurrentAndLongTermAssets`	$104.00K	USD	3 Qtrs
Other current and long-term assets	`IncreaseDecreaseInOtherCurrentAndLongTermAssets`	$-28.00K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-79.00K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.04M	USD	3 Qtrs
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivities`	$-11.84M	USD	3 Qtrs
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivities`	$-8.77M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$177.00K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$206.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-206.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-177.00K	USD	3 Qtrs
Net proceeds from public stock offering	`ProceedsFromIssuanceInitialPublicOffering`	$8.00M	USD	3 Qtrs
Net proceeds from public stock offering	`ProceedsFromIssuanceInitialPublicOffering`	$28.80M	USD	Point-in-time
Net proceeds from public stock offering	`ProceedsFromIssuanceInitialPublicOffering`	$4.65M	USD	3 Qtrs
Net proceeds from public stock offering	`ProceedsFromIssuanceInitialPublicOffering`	$28.80M	USD	Point-in-time
Net proceeds from public stock offering	`ProceedsFromIssuanceInitialPublicOffering`	$28.80M	USD	Point-in-time
Net proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	-	USD	3 Qtrs
Net proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$1.98M	USD	3 Qtrs
Net proceeds from the sale of common stock, preferred stock, and warrants	`ProceedsFromIssuanceOrSaleOfEquity`	-	USD	3 Qtrs
Net proceeds from the sale of common stock, preferred stock, and warrants	`ProceedsFromIssuanceOrSaleOfEquity`	$184.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.17M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.65M	USD	3 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-2.00K	USD	3 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-2.00K	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.37M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.19M	USD	3 Qtrs
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.51M	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`	$8.22M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.32M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.51M	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`	$8.22M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.32M	USD	Point-in-time
Warrants issued as inducement to warrant exercise	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	-	USD	3 Qtrs
Warrants issued as inducement to warrant exercise	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	$509.00K	USD	3 Qtrs
Conversion of temporary equity to permanent equity	`ConversionOfTemporaryEquityToPermanentEquity`	-	USD	3 Qtrs
Conversion of temporary equity to permanent equity	`ConversionOfTemporaryEquityToPermanentEquity`	$485.00K	USD	3 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	$8.00K	USD	3 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	3 Qtrs

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