10-K Filing

Nuwellis, Inc. CIK: 1506492 FY 2019

Filing Information

Form Type	10-K
Accession Number	`0001140361-20-004976`
Period End Date	20191231
Filing Date	20200305
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	chfs-20191231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 28 Cash Flow Statement 42 Stockholders Equity 18

Balance Sheet 63 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`	$5.48M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	39.97M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.28M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	39.97M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$786.00K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$799.00K	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$1.66M	USD	Point-in-time
Inventories	`InventoryNet`	$1.80M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	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`	$203.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$161.00K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$4.04M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.13M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$536.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	4.67M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$991.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	513,445.00	shares	Point-in-time
Operating lease right-of-use asset, net	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.67M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	513,445.00	shares	Point-in-time
Operating lease right-of-use asset, net	`OperatingLeaseRightOfUseAsset`	$442.00K	USD	Point-in-time
Other assets	`OtherAssets`	$113.00K	USD	Point-in-time
Other assets	`OtherAssets`	$133.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$5.60M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$8.78M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.13M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.49M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.59M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.50M	USD	Point-in-time
Current portion of operating lease liability	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Current portion of operating lease liability	`OperatingLeaseLiabilityCurrent`	$186.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$209.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$85.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.84M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.35M	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityNoncurrent`	$261.00K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$2.84M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.61M	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, 2019 and December 31, 2018, par value $0.0001 per share; authorized 100,000,000 shares, issued and outstanding 4,674,068 and 513,445, respectively	`CommonStockValue`	-	USD	Point-in-time
Common stock as of December 31, 2019 and December 31, 2018, par value $0.0001 per share; authorized 100,000,000 shares, issued and outstanding 4,674,068 and 513,445, respectively	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$204.10M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$218.28M	USD	Point-in-time
Foreign currency translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$1.21M	USD	Point-in-time
Foreign currency translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$1.22M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-217.50M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-199.39M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$16.24M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.94M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.99M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$5.60M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$8.78M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$5.00M	USD	Annual
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$5.51M	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$3.67M	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$2.66M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$16.29M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$15.31M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$3.05M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$4.67M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$22.03M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$23.62M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-18.11M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-17.04M	USD	Annual
Other income, net	`OtherNonoperatingIncome`	$10.00K	USD	Annual
Other income, net	`OtherNonoperatingIncome`	-	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-17.03M	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-18.11M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$8.00K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$6.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-18.11M	USD	Annual
Net loss	`NetIncomeLoss`	$-17.03M	USD	Annual
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-42.14	USD	Annual
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-9.30	USD	Annual
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.43M	shares	Annual
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	404,000.00	shares	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-4.00K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-9.00K	USD	Annual
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-17.04M	USD	Annual
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-18.12M	USD	Annual

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-18.11M	USD	Annual
Net loss	`NetIncomeLoss`	$-17.03M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$239.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$232.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$2.09M	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$1.51M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$13.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$241.00K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$343.00K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$70.00K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-42.00K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$67.00K	USD	Annual
Other assets and liabilities	`IncreaseDecreaseInOtherCurrentAndLongTermAssets`	$14.00K	USD	Annual
Other assets and liabilities	`IncreaseDecreaseInOtherCurrentAndLongTermAssets`	$-18.00K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$292.00K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$545.00K	USD	Annual
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivities`	$-14.56M	USD	Annual
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivities`	$-16.37M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$198.00K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$490.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-490.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-198.00K	USD	Annual
Net proceeds from public stock offerings, net	`ProceedsFromIssuanceInitialPublicOffering`	$4.65M	USD	Annual
Net proceeds from public stock offerings, net	`ProceedsFromIssuanceInitialPublicOffering`	$12.66M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$12.66M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.65M	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-9.00K	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-4.00K	USD	Annual
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-10.12M	USD	Annual
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-4.20M	USD	Annual
Cash and cash equivalents - beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.28M	USD	Point-in-time
Cash and cash equivalents - beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.48M	USD	Point-in-time
Cash and cash equivalents - beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.60M	USD	Point-in-time
Cash and cash equivalents - end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.60M	USD	Point-in-time
Cash and cash equivalents - end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.48M	USD	Point-in-time
Cash and cash equivalents - end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.28M	USD	Point-in-time
Financing fees incurred for subsequent equity financing included in other assets and accounts payable	`FinancingFeesIncurredForSubsequentEquityFinancingIncludedInLongTermAssetsAndAccountsPayable`	$78.00K	USD	Annual
Financing fees incurred for subsequent equity financing included in other assets and accounts payable	`FinancingFeesIncurredForSubsequentEquityFinancingIncludedInLongTermAssetsAndAccountsPayable`	$111.00K	USD	Annual
Inventory transferred to property, plant and equipment	`InventoryTransferredToPropertyPlantAndEquipment`	-	USD	Annual
Inventory transferred to property, plant and equipment	`InventoryTransferredToPropertyPlantAndEquipment`	$204.00K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaidNet`	$2.00K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaidNet`	$4.00K	USD	Annual

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$16.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.94M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.99M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-18.11M	USD	Annual
Net loss	`NetIncomeLoss`	$-17.03M	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-4.00K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-9.00K	USD	Annual
Stock-based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$2.09M	USD	Annual
Stock-based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$1.51M	USD	Annual
Issuance of unregistered shares	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	Annual
Issuance of common stock, net	`StockIssuedDuringPeriodValueNewIssues`	$4.65M	USD	Annual
Issuance of common stock, net	`StockIssuedDuringPeriodValueNewIssues`	$12.66M	USD	Annual
Issuance of common stock, net (in shares)	`StockIssuedDuringPeriodSharesNewIssues`	575,830.00	shares	Point-in-time
Conversion of preferred stock into common stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	Annual
Conversion of preferred stock into common stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	Annual
Balance	`StockholdersEquity`	$5.94M	USD	Point-in-time
Balance	`StockholdersEquity`	$16.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.99M	USD	Point-in-time

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