$NUWE

Sunshine Heart, Inc.

CIK:0001506492|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Condensed Consolidated Statements of Operations and Comprehensive Loss [Abstract]
Net sales	$ 1,969	$ 1,725	$ 4,372	$ 3,629
Cost of goods sold	471	767	1,190	1,604
Gross profit	1,498	958	3,182	2,025
Operating expenses:
Selling, general and administrative	3,725	3,189	8,249	6,766
Research and development	942	675	2,670	1,225
Total operating expenses	4,667	3,864	10,919	7,991
Loss from operations	(3,169)	(2,906)	(7,737)	(5,966)
Other income	7	10	8	17
Financing expense	(6,077)	(10,553)	(6,077)	(10,553)
Change in fair value of warrant liabilities	4,411	900	4,437	940
Loss before income taxes	(4,828)	(12,549)	(9,369)	(15,562)
Income tax expense	0	(4)	0	(5)
Net loss	(4,828)	(12,553)	(9,369)	(15,567)
Deemed dividend attributable to Series J Convertible Preferred Stock	1	1	3	2
Net loss attributable to common shareholders	$ (4,827)	$ (12,552)	$ (9,366)	$ (15,565)
Basic loss per share (in Dollars per share)	$ (26.64)	$ (2,134.19)	$ (77.88)	$ (3,514.87)
Diluted loss per share (in Dollars per share)	$ (26.64)	$ (2,134.19)	$ (77.88)	$ (3,514.87)
Weighted average shares outstanding – basic (in Shares)	181,243	5,881	120,263	4,428
Weighted average shares outstanding – diluted (in Shares)	181,243	5,881	120,263	4,428
Other comprehensive loss:
Net Loss	$ (4,828)	$ (12,553)	$ (9,369)	$ (15,567)
Foreign currency translation adjustments	0	(5)	0	(7)
Total comprehensive loss	$ (4,828)	$ (12,558)	$ (9,369)	$ (15,574)

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities:
Net loss	$ (9,369)	$ (15,567)
Adjustments to reconcile net loss to cash flows used in operating activities:
Depreciation and amortization	75	123
Stock-based compensation expense	47	84
Change in fair value of warrant liabilities	(4,437)	(940)
Financing expense	6,077	10,553
Non-cash IP R&D from Rendiatech acquisition	757	0
Changes in operating assets and liabilities:
Accounts receivable	(52)	534
Inventory, net	218	(310)
Other current assets	8	(430)
Other assets	(213)	106
Other liabilities	(144)	(74)
Accounts payable and accrued expenses	746	1,288
Net cash used in operating activities	(6,287)	(4,633)
Investing Activities:
Purchases of property and equipment	(39)	(4)
Purchase of intangible assets	(90)	0
Cash paid for acquisition of Rendiatech, net of cash acquired	(164)	0
Net cash used in investing activities	(293)	(4)
Financing Activities:
Proceeds from issuance of common stock and warrants, net	9,363	3,999
Issuance of common stock from ATM, net	55	0
Net cash provided by financing activities	9,418	3,999
Effect of exchange rate changes on cash	0	(7)
Net increase (decrease) in cash and cash equivalents	2,838	(645)
Cash and cash equivalents, and restricted cash - beginning of period	1,190	5,095
Cash and cash equivalents, and restricted cash - end of period	4,028	4,450
Supplemental cash flow information
Common stock issued as consideration in asset acquisition	162	0
Issuance of common stock for conversion of Series F-1 Preferred Stock	0	1,100
Deferred costs issued as consideration in asset acquisition	313	0
Deemed dividend on Series J Preferred Stock	$ 3	$ 2

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 3,922	$ 1,085
Accounts receivable	1,545	1,493
Inventories, net	1,742	1,910
Other current assets	690	698
Total current assets	7,899	5,186
Property, plant and equipment, net	347	368
Operating lease right-of-use asset	179	293
Intangible assets, net	102	0
Other assets	599	271
TOTAL ASSETS	9,126	6,118
Current liabilities
Accounts payable and accrued liabilities	2,896	2,226
Accrued compensation	731	460
Current portion of operating lease liability	200	261
Deferred consideration from Rendiatech acquisition, current	113	0
Other current liabilities	68	85
Total current liabilities	4,008	3,032
Deferred consideration from Rendiatech acquisition, non-current	200	0
Warrant liabilities	6,963	389
Operating lease liability	0	67
Total liabilities	11,171	3,488
Commitments and contingencies
Mezzanine Equity
Series J Convertible Preferred Stock as of June 30, 2026 and December 31, 2025, par value $0.0001 per share; authorized 600,000 shares, issued and outstanding 159 and 137, respectively	10	6
Stockholders’ equity (deficit)
Preferred stock	0	0
Common stock as of June 30, 2026 and December 31, 2025, par value $0.0001 per share; authorized 100,000,000 shares, issued and outstanding 574,455 and 48,178, respectively	0	0
Additional paid‑in capital	323,618	318,928
Accumulated other comprehensive income:
Foreign currency translation adjustment	8	8
Accumulated deficit	(325,681)	(316,312)
Total stockholders’ equity (deficit)	(2,055)	2,624
TOTAL LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT)	9,126	6,118
Series A Junior Participating Preferred Stock [Member]
Stockholders’ equity (deficit)
Preferred stock	0	0
Series F Convertible Preferred Stock [Member]
Stockholders’ equity (deficit)
Preferred stock	0	0
Series F-1 Convertible Preferred Stock [Member]
Stockholders’ equity (deficit)
Preferred stock	$ 0	$ 0