$SNWV
SANUWAVE Health, Inc.

2015 Q3 Form 10-Q Financial Statement

#000143774915020650 Filed on November 12, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q3
Revenue $143.6K $227.5K
YoY Change -36.87%
Cost Of Revenue $38.75K $68.08K
YoY Change -43.08%
Gross Profit $104.9K $159.4K
YoY Change -34.23%
Gross Profit Margin 73.01% 70.07%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $569.1K $708.3K
YoY Change -19.65%
% of Gross Profit 542.79% 444.31%
Depreciation & Amortization $926.00 $3.827K
YoY Change -75.8% -95.22%
% of Gross Profit 0.88% 2.4%
Operating Expenses $1.425M $1.569M
YoY Change -9.15%
Operating Profit -$1.321M -$1.410M
YoY Change -6.31%
Interest Expense $105.8K $79.96K
YoY Change 32.36%
% of Operating Profit
Other Income/Expense, Net $293.7K -$83.39K
YoY Change -452.26%
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$1.027M -$1.493M
YoY Change -31.22%
Net Earnings / Revenue -715.05% -656.25%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $630.0K $4.690M
YoY Change -86.57% 1321.21%
Cash & Equivalents $625.5K $4.687M
Short-Term Investments
Other Short-Term Assets $150.0K $160.0K
YoY Change -6.25% 77.78%
Inventory $291.4K $260.0K
Prepaid Expenses $152.3K
Receivables $32.01K $90.00K
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.101M $5.200M
YoY Change -78.83% 612.33%
LONG-TERM ASSETS
Property, Plant & Equipment $5.065K $10.00K
YoY Change -49.35% -50.0%
Goodwill
YoY Change
Intangibles $383.4K
YoY Change
Long-Term Investments
YoY Change
Other Assets $11.16K $10.00K
YoY Change 11.6% 0.0%
Total Long-Term Assets $399.7K $710.0K
YoY Change -43.71% -31.07%
TOTAL ASSETS
Total Short-Term Assets $1.101M $5.200M
Total Long-Term Assets $399.7K $710.0K
Total Assets $1.501M $5.910M
YoY Change -74.61% 235.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $315.7K $400.0K
YoY Change -21.09% 2.56%
Accrued Expenses $400.5K $560.0K
YoY Change -28.48% -58.21%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $5.370M
YoY Change -100.0% 13325.0%
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $1.285M $6.330M
YoY Change -79.71% 160.49%
LONG-TERM LIABILITIES
Long-Term Debt $5.340M $0.00
YoY Change -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $5.340M $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.285M $6.330M
Total Long-Term Liabilities $5.340M $0.00
Total Liabilities $6.627M $6.330M
YoY Change 4.69% -18.85%
SHAREHOLDERS EQUITY
Retained Earnings -$91.89M
YoY Change
Common Stock $63.06K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$5.126M -$420.0K
YoY Change
Total Liabilities & Shareholders Equity $1.501M $5.910M
YoY Change -74.61% 235.8%

Cashflow Statement

Concept 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income -$1.027M -$1.493M
YoY Change -31.22%
Depreciation, Depletion And Amortization $926.00 $3.827K
YoY Change -75.8% -95.22%
Cash From Operating Activities -$1.090M -$1.450M
YoY Change -24.83% 4.32%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$10.00K
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $100.0K $0.00
YoY Change
Cash From Investing Activities $100.0K -$10.00K
YoY Change -1100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -1.090M -1.450M
Cash From Investing Activities 100.0K -10.00K
Cash From Financing Activities 0.000 0.000
Net Change In Cash -990.0K -1.460M
YoY Change -32.19% -640.74%
FREE CASH FLOW
Cash From Operating Activities -$1.090M -$1.450M
Capital Expenditures $0.00 -$10.00K
Free Cash Flow -$1.090M -$1.440M
YoY Change -24.31%

Facts In Submission

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<div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="WIDTH: 36pt; VERTICAL-ALIGN: top"> <div style=""><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">1.</div></div></div></td> <td style="VERTICAL-ALIGN: top"> <div style=""><div style="display: inline; font-weight: bold;"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Nature of the Business</div></div></div></div></div></td> </tr> </table> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></div>&nbsp;</div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">SANUWAVE Health, Inc. and subsidiaries (the &#x201c;Company&#x201d;) is a shockwave technology company using a patented system of noninvasive, high-energy, acoustic shockwaves for regenerative medicine and other applications. The Company&#x2019;s initial focus is regenerative medicine &#x2013; utilizing noninvasive, acoustic shockwaves to produce a biological response resulting in the body healing itself through the repair and regeneration of tissue, musculoskeletal and vascular structures. The Company&#x2019;s lead regenerative product in the United States is the dermaPACE<div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline; vertical-align: baseline; position: relative; bottom:.33em;">&reg;</div> device, which is in a supplemental Phase III clinical study for treating diabetic foot ulcers. </div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Company&#x2019;s portfolio of healthcare products and product candidates activate biologic signaling and angiogenic responses, including new vascularization and microcirculatory improvement, helping to restore the body&#x2019;s normal healing processes and regeneration. The Company intends to apply its Pulsed Acoustic Cellular Expression (PACE<div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline; vertical-align: baseline; position: relative; bottom:.33em;">&reg;</div>) technology in wound healing, orthopedic, plastic/cosmetic and cardiac conditions. Revenues are from sales of the European Conformity Marking (&#x201c;CE Mark&#x201d;) devices and accessories in Europe, Canada, Asia and Asia/Pacific. </div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">In addition, there are license/partnership opportunities for the Company&#x2019;s shockwave technology for non-medical uses, including energy, water, food and industrial markets.</div></div></div>
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
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CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
0.36
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
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CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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7206830
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.31
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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CY2015Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
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CY2015Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
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CY2015Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
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CY2015Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P5Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y182D
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
914542
CY2015Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
283334
CY2015Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
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CY2015Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
200002
CY2015Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
16666
CY2015Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
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CY2014Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
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CY2015Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
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0.43
CY2015Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
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CY2015Q1 us-gaap Warrants And Rights Outstanding
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CY2015Q2 us-gaap Warrants And Rights Outstanding
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CY2015Q3 us-gaap Warrants And Rights Outstanding
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CY2014Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
63014763
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
46258912

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