$SNWV
SANUWAVE Health, Inc.

2016 Q1 Form 10-K Financial Statement

#000143774916028700 Filed on March 30, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 2014 Q4
Revenue $269.3K $965.5K
YoY Change 27.97% 13.94%
Cost Of Revenue $73.18K $285.0K
YoY Change 24.42% 29.54%
Gross Profit $196.1K $680.5K
YoY Change 29.35% 8.47%
Gross Profit Margin 72.83% 70.49%
Selling, General & Admin $2.735M
YoY Change -16.33%
% of Gross Profit 401.91%
Research & Development $310.0K $2.173M
YoY Change -51.16% -27.59%
% of Gross Profit 158.03% 319.28%
Depreciation & Amortization $836.00 $3.612K $80.00K
YoY Change -9.62% -74.72% -11.11%
% of Gross Profit 0.43% 0.53%
Operating Expenses $885.6K $5.118M
YoY Change -30.73% -22.34%
Operating Profit -$689.5K -$4.438M
YoY Change -38.82% -25.58%
Interest Expense $234.4K $399.8K
YoY Change 195.46% -7.83%
% of Operating Profit
Other Income/Expense, Net -$1.035M -$372.5K
YoY Change 3112.62% 3417.54%
Pretax Income -$4.810M
YoY Change -19.48%
Income Tax
% Of Pretax Income
Net Earnings -$1.725M -$4.810M
YoY Change 48.78% -19.48%
Net Earnings / Revenue -640.34% -498.22%
Basic Earnings Per Share
Diluted Earnings Per Share -$76.32K
COMMON SHARES
Basic Shares Outstanding 96.00M
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q1 2015 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $600.0K $152.9K $3.550M
YoY Change -75.51% -95.69% 1872.22%
Cash & Equivalents $604.1K $152.9K $3.547M
Short-Term Investments
Other Short-Term Assets $150.0K $124.0K $130.0K
YoY Change 0.0% -3.55% 62.5%
Inventory $258.5K $284.9K $271.9K
Prepaid Expenses $147.5K $128.6K
Receivables $46.03K $74.45K $86.40K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.056M $636.3K $4.034M
YoY Change -64.08% -84.23% 530.3%
LONG-TERM ASSETS
Property, Plant & Equipment $3.392K $4.230K $7.840K
YoY Change -66.08% -46.05% -21.6%
Goodwill
YoY Change
Intangibles $230.1K $613.5K
YoY Change
Long-Term Investments
YoY Change
Other Assets $11.19K $11.10K $11.11K
YoY Change 11.91% -0.09% 11.06%
Total Long-Term Assets $244.7K $322.1K $632.5K
YoY Change -55.52% -49.08% -33.43%
TOTAL ASSETS
Total Short-Term Assets $1.056M $636.3K $4.034M
Total Long-Term Assets $244.7K $322.1K $632.5K
Total Assets $1.301M $958.4K $4.666M
YoY Change -62.73% -79.46% 193.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $356.2K $509.3K $231.8K
YoY Change 78.12% 119.66% -75.34%
Accrued Expenses $252.0K $840.7K $369.5K
YoY Change -50.59% 85.36% -68.42%
Deferred Revenue
YoY Change
Short-Term Debt $5.450M $0.00 $5.370M
YoY Change 1.49% -100.0% 2137.5%
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $6.655M $1.488M $6.218M
YoY Change 7.51% -76.07% 165.72%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $5.348M $0.00
YoY Change -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $5.348M $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.655M $1.488M $6.218M
Total Long-Term Liabilities $0.00 $5.348M $0.00
Total Liabilities $6.655M $6.836M $6.218M
YoY Change 7.51% 9.95% -19.46%
SHAREHOLDERS EQUITY
Retained Earnings -$94.72M -$88.18M
YoY Change
Common Stock $96.00K $60.73K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$5.354M -$5.878M -$1.551M
YoY Change
Total Liabilities & Shareholders Equity $1.301M $958.4K $4.666M
YoY Change -62.73% -79.46% 193.48%

Cashflow Statement

Concept 2016 Q1 2015 2014 Q4
OPERATING ACTIVITIES
Net Income -$1.725M -$4.810M
YoY Change 48.78% -19.48%
Depreciation, Depletion And Amortization $836.00 $3.612K $80.00K
YoY Change -9.62% -74.72% -11.11%
Cash From Operating Activities -$1.012M -$3.473M -$1.140M
YoY Change -6.35% -47.99% 107.27%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $100.0K $0.00
YoY Change 1233.33%
Cash From Investing Activities $1.000K $100.0K $0.00
YoY Change -1228.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.459M 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -1.012M -3.473M -1.140M
Cash From Investing Activities 1.000K 100.0K 0.000
Cash From Financing Activities 1.459M 0.000
Net Change In Cash 448.2K -3.373M -1.140M
YoY Change -141.5% -199.69% 660.0%
FREE CASH FLOW
Cash From Operating Activities -$1.012M -$3.473M -$1.140M
Capital Expenditures $0.00
Free Cash Flow -$3.473M -$1.140M
YoY Change -48.06% 107.27%

Facts In Submission

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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;"><div style="display: inline; font-weight: bold;">Concentration of credit risk and limited suppliers</div></div> - Management routinely assesses the financial strength of its customers and, as a consequence, believes accounts receivable are stated at the net realizable value and credit risk exposure is limited. Two distributors accounted for 37% and 29% of revenues for the year ended December 31, 2015, and 63% and 10% of accounts receivable at December 31, 2015. Two distributors accounted for 26% and 34% of revenues for the year ended December 31, 2014, and 24% and 34% of accounts receivable at December 31, 2014.</div></div><div style=" TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">We depend on suppliers for product component materials and other components that are subject to stringent regulatory requirements. We currently purchase most of our product component materials from single suppliers and the loss of any of these suppliers could result in a disruption in our production. If this were to occur, it may be difficult to arrange a replacement supplier because certain of these materials may only be available from one or a limited number of sources. In addition, establishing additional or replacement suppliers for these materials may take a substantial period of time, as certain of these suppliers must be approved by regulatory authorities.</div></div></div></div></div></div></div></div></div></div></div></div>
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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;"><div style="display: inline; font-weight: bold;">Estimates</div></div> &#x2013; These consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America. Because a precise determination of assets and liabilities, and correspondingly revenues and expenses, depend on future events, the preparation of consolidated financial statements for any period necessarily involves the use of estimates and assumptions. Actual amounts may differ from these estimates. These consolidated financial statements have, in management&#x2019;s opinion, been properly prepared within reasonable limits of materiality and within the framework of the accounting policies summarized herein. Significant estimates include the recording of allowances for doubtful accounts, estimated reserves for inventory, estimated useful life of property and equipment, accrued expenses, the determination of the valuation allowances for deferred taxes, estimated fair value of stock-based compensation and the estimated fair value of intangible assets.</div></div></div></div></div></div></div></div></div></div></div></div>
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63025202
CY2014 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
48212910

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