$NUWE
Nuwellis Inc

2014 Q1 Form 10-K Financial Statement

#000110465914019828 Filed on March 14, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q4 2013 Q3
Revenue $59.00K $0.00 $59.00K
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.361M $2.810M $2.486M
YoY Change 19.48% 51.08% 66.29%
% of Gross Profit
Research & Development $4.063M $4.180M $3.747M
YoY Change 67.48% 85.78% 107.94%
% of Gross Profit
Depreciation & Amortization $61.00K $60.00K $47.00K
YoY Change 52.5% 50.0% 30.56%
% of Gross Profit
Operating Expenses $6.424M $7.000M $6.233M
YoY Change 45.93% 70.32% 89.05%
Operating Profit -$6.174M
YoY Change 87.26%
Interest Expense $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net $33.00K -$110.0K
YoY Change 1000.0%
Pretax Income -$6.332M -$7.100M -$6.171M
YoY Change 43.94% 72.75% 87.23%
Income Tax $0.00 $0.00 -$136.0K
% Of Pretax Income
Net Earnings -$6.330M -$7.100M -$6.040M
YoY Change 43.86% 74.45% 83.03%
Net Earnings / Revenue -10728.81% -10237.29%
Basic Earnings Per Share
Diluted Earnings Per Share -$94.66B -$106.4B -$119.5B
COMMON SHARES
Basic Shares Outstanding 16.86M shares 16.84M shares 12.38M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q1 2013 Q4 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $47.42M $54.14M $59.81M
YoY Change 332.27% 280.73% 242.75%
Cash & Equivalents $47.42M $54.14M $59.81M
Short-Term Investments
Other Short-Term Assets $824.0K $448.0K $511.0K
YoY Change 63.49% 34.53% -23.39%
Inventory
Prepaid Expenses
Receivables $59.00K $59.00K $59.00K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $48.30M $54.64M $60.38M
YoY Change 320.99% 275.37% 233.34%
LONG-TERM ASSETS
Property, Plant & Equipment $572.0K $587.0K $431.0K
YoY Change 27.68% 22.55% -12.58%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $572.0K $587.0K $431.0K
YoY Change 27.68% 22.55% -12.58%
TOTAL ASSETS
Total Short-Term Assets $48.30M $54.64M $60.38M
Total Long-Term Assets $572.0K $587.0K $431.0K
Total Assets $48.88M $55.23M $60.81M
YoY Change 309.96% 267.32% 226.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.030M $2.188M $2.042M
YoY Change 28.16% 89.27% 28.43%
Accrued Expenses $640.0K $1.320M $910.0K
YoY Change 45.45% 41.94% 33.82%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.667M $3.503M $2.952M
YoY Change 32.1% 67.85% 29.99%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.667M $3.503M $2.952M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $2.667M $3.503M $2.952M
YoY Change 32.03% 67.85% 29.99%
SHAREHOLDERS EQUITY
Retained Earnings -$107.3M -$101.0M -$93.91M
YoY Change 28.32% 27.45% 24.9%
Common Stock $152.4M $151.5M $150.7M
YoY Change 64.93% 66.49% 66.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $46.21M $51.73M $57.86M
YoY Change
Total Liabilities & Shareholders Equity $48.88M $55.23M $60.81M
YoY Change 310.03% 267.32% 226.82%

Cashflow Statement

Concept 2014 Q1 2013 Q4 2013 Q3
OPERATING ACTIVITIES
Net Income -$6.330M -$7.100M -$6.040M
YoY Change 43.86% 74.45% 83.03%
Depreciation, Depletion And Amortization $61.00K $60.00K $47.00K
YoY Change 52.5% 50.0% 30.56%
Cash From Operating Activities -$6.690M -$5.600M -$4.190M
YoY Change 62.77% 64.22% 47.02%
INVESTING ACTIVITIES
Capital Expenditures $46.00K -$210.0K -$60.00K
YoY Change 411.11% 600.0% 200.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$50.00K -$210.0K -$60.00K
YoY Change 400.0% 600.0% 200.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $16.00K $42.67M
YoY Change -98.17% 130.02%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 20.00K -20.00K 42.68M
YoY Change -97.7% -109.09% 130.08%
NET CHANGE
Cash From Operating Activities -6.690M -5.600M -4.190M
Cash From Investing Activities -50.00K -210.0K -60.00K
Cash From Financing Activities 20.00K -20.00K 42.68M
Net Change In Cash -6.720M -5.830M 38.43M
YoY Change 106.77% 81.06% 145.09%
FREE CASH FLOW
Cash From Operating Activities -$6.690M -$5.600M -$4.190M
Capital Expenditures $46.00K -$210.0K -$60.00K
Free Cash Flow -$6.736M -$5.390M -$4.130M
YoY Change 63.53% 59.47% 45.94%

Facts In Submission

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StockIssuedDuringPeriodValueOfWarrantsIssuedForServiceAgreement
280000 USD
CY2013 ssh Stock Issued During Period Value Of Warrants Issued For Service Agreement
StockIssuedDuringPeriodValueOfWarrantsIssuedForServiceAgreement
239000 USD
CY2013 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
185000 USD
CY2013Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
114000 USD
CY2012Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
56000 USD
CY2013Q4 us-gaap Deferred Tax Assets Gross Current
DeferredTaxAssetsGrossCurrent
190000 USD
CY2012Q4 us-gaap Deferred Tax Assets Gross Current
DeferredTaxAssetsGrossCurrent
56000 USD
CY2013Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
46000 USD
CY2012Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
124000 USD
CY2013Q4 us-gaap Deferred Tax Assets Gross Noncurrent
DeferredTaxAssetsGrossNoncurrent
34087000 USD
CY2012 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
138000 USD
CY2013 us-gaap Share Based Compensation
ShareBasedCompensation
2953000 USD
CY2012 us-gaap Share Based Compensation
ShareBasedCompensation
1248000 USD
CY2012 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-63000 USD
CY2013 us-gaap Adjustment Of Warrants Granted For Services
AdjustmentOfWarrantsGrantedForServices
239000 USD
CY2012 us-gaap Adjustment Of Warrants Granted For Services
AdjustmentOfWarrantsGrantedForServices
280000 USD
CY2013 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
59000 USD
CY2013 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
22000 USD
CY2012 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-13000 USD
CY2013 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1100000 USD
CY2012 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-760000 USD
CY2013 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-17362000 USD
CY2012 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-13083000 USD
CY2013 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
293000 USD
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
158000 USD
CY2013 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-293000 USD
CY2012 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-158000 USD
CY2013 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
57566000 USD
CY2012 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
20837000 USD
CY2013 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
57566000 USD
CY2012 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
20837000 USD
CY2013 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
1000 USD
CY2012 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
65000 USD
CY2013 us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
39912000 USD
CY2012 us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
7661000 USD
CY2011Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6563000 USD
CY2013 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3604000 USD
CY2012 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1248000 USD
CY2012 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1248000 USD
CY2013 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2804000 USD
CY2013 ssh Accounts Receivables Maximum Credit Period From Invoice Date
AccountsReceivablesMaximumCreditPeriodFromInvoiceDate
P30D
CY2013Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0 USD
CY2012Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0 USD
CY2013Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2012Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2012Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
2875000 shares
CY2012Q3 us-gaap Share Price
SharePrice
7.00
CY2012Q3 ssh Stock Issued During Period Upon Exercise Of Over Allotment Option By Underwriters
StockIssuedDuringPeriodUponExerciseOfOverAllotmentOptionByUnderwriters
94800 shares
CY2012Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
18552000 USD
CY2012Q3 us-gaap Share Price
SharePrice
7.00
CY2013 ssh Adjustments To Additional Paid In Capital Reclassification Of Stock Options To Liabilities
AdjustmentsToAdditionalPaidInCapitalReclassificationOfStockOptionsToLiabilities
95000 USD
CY2013 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
206000 USD
CY2012Q4 us-gaap Deferred Tax Assets Gross Noncurrent
DeferredTaxAssetsGrossNoncurrent
28438000 USD
CY2013Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
37000 USD
CY2012Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
50000 USD
CY2013Q4 ssh Deferred Tax Assets Liabilities Net Before Valuation Allowance
DeferredTaxAssetsLiabilitiesNetBeforeValuationAllowance
34240000 USD
CY2012Q4 ssh Deferred Tax Assets Liabilities Net Before Valuation Allowance
DeferredTaxAssetsLiabilitiesNetBeforeValuationAllowance
28444000 USD

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