10-Q Filing

Nuwellis, Inc. CIK: 1506492 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001140361-20-011626`
Period End Date	20200331
Filing Date	20200514
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	chfs-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 28 Cash Flow Statement 44 Stockholders Equity 21

Balance Sheet 64 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`	$5.67M	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`	39.48M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$727.00K	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
Inventory	`InventoryNet`	$1.80M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventory	`InventoryNet`	$2.19M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$161.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$141.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.04M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$8.73M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	27.14M	shares	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
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$897.00K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.67M	shares	Point-in-time
Operating lease right-of-use asset	`OperatingLeaseRightOfUseAsset`	$397.00K	USD	Point-in-time
Operating lease right-of-use asset	`OperatingLeaseRightOfUseAsset`	$442.00K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	27.14M	shares	Point-in-time
Other assets	`OtherAssets`	$133.00K	USD	Point-in-time
Other assets	`OtherAssets`	$21.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$10.05M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$5.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$787.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.49M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.11M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.59M	USD	Point-in-time
Current portion of operating lease liability	`OperatingLeaseLiabilityCurrent`	$191.00K	USD	Point-in-time
Current portion of operating lease liability	`OperatingLeaseLiabilityCurrent`	$186.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$39.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$85.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.13M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.35M	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityNoncurrent`	$212.00K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityNoncurrent`	$261.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.61M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.34M	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, 2020 and December 31, 2019, par value $0.0001 per share; authorized 100,000,000 shares, issued and outstanding 27,142,390 and 4,674,068, respectively	`CommonStockValue`	-	USD	Point-in-time
Common stock as of March 31, 2020 and December 31, 2019, par value $0.0001 per share; authorized 100,000,000 shares, issued and outstanding 27,142,390 and 4,674,068, respectively	`CommonStockValue`	$3.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$218.28M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$228.56M	USD	Point-in-time
Foreign currency translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$1.21M	USD	Point-in-time
Foreign currency translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$1.21M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-217.50M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-222.07M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.99M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$7.70M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$12.53M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.94M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$10.05M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$5.60M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.63M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.22M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$612.00K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$796.00K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.54M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.02M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.31M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$864.00K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$6.20M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$5.94M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.72M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.57M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$1.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.57M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.72M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.73M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.57M	USD	1 Quarter
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.37	USD	1 Quarter
Basic and diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-11.47	USD	1 Quarter
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	16.44M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	805,000.00	shares	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-2.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-3.00K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-4.57M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-4.73M	USD	1 Quarter

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.73M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.57M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$59.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$65.00K	USD	1 Quarter
Stock-based compensation expense, net	`ShareBasedCompensation`	$362.00K	USD	1 Quarter
Stock-based compensation expense, net	`ShareBasedCompensation`	$380.00K	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-46.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-164.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-72.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$132.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$398.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$147.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-20.00K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherCurrentAndLongTermAssets`	$-67.00K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherCurrentAndLongTermAssets`	$-112.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.18M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-598.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.91M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.50M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$17.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$41.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-17.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-41.00K	USD	1 Quarter
Proceeds from public stock offerings, net	`ProceedsFromIssuanceInitialPublicOffering`	$9.62M	USD	1 Quarter
Proceeds from public stock offerings, net	`ProceedsFromIssuanceInitialPublicOffering`	$10.96M	USD	1 Quarter
Proceeds from warrant exercises	`ProceedsFromWarrantExercises`	-	USD	1 Quarter
Proceeds from warrant exercises	`ProceedsFromWarrantExercises`	$289.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.90M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.96M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-2.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-3.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$4.39M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$6.01M	USD	1 Quarter
Cash and cash equivalents - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.48M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.49M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.67M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.28M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.48M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.49M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.67M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.28M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$1.99M	USD	Point-in-time
Balance	`StockholdersEquity`	$7.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$12.53M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.94M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-4.73M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.57M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-2.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-3.00K	USD	1 Quarter
Stock-based compensation and stock awards, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$380.00K	USD	1 Quarter
Stock-based compensation and stock awards, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$362.00K	USD	1 Quarter
Issuance of common and preferred stock, net	`StockIssuedDuringPeriodValueNewIssues`	$9.62M	USD	1 Quarter
Issuance of common and preferred stock, net	`StockIssuedDuringPeriodValueNewIssues`	$10.96M	USD	1 Quarter
Issuance of common and preferred stock, net (in shares)	`StockIssuedDuringPeriodSharesNewIssues`	575,830.00	shares	Point-in-time
Issuance of common and preferred stock, net (in shares)	`StockIssuedDuringPeriodSharesNewIssues`	6.05M	shares	Point-in-time
Exercise of warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$289.00K	USD	1 Quarter
Conversion of preferred stock into common stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	1 Quarter
Conversion of preferred stock into common stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	1 Quarter
Balance	`StockholdersEquity`	$1.99M	USD	Point-in-time
Balance	`StockholdersEquity`	$7.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$12.53M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.94M	USD	Point-in-time

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