Nuo Therapeutics Q2 2024: Assets $45.5M, Liabilities $44.2M

TL;DR

Nuo Therapeutics Q2 2024: Assets $45.5M, Liabilities $44.2M. Almost no profit.

AI Summary

Nuo Therapeutics, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $45,466,238 and total liabilities of $44,241,516 as of June 30, 2024. For the six months ended June 30, 2024, the company had no revenue from product sales.

Why It Matters

This filing provides a snapshot of Nuo Therapeutics' financial health, indicating a narrow net worth as of mid-2024, with minimal revenue generation from products in the first half of the year.

Risk Assessment

Risk Level: medium — The company has a significant amount of liabilities relative to its assets, and minimal revenue, suggesting potential financial instability.

Key Numbers

• $45.5B — Total Assets (As of June 30, 2024)
• $44.2B — Total Liabilities (As of June 30, 2024)
• $0.00 — Product Revenue (For the six months ended June 30, 2024)

Key Players & Entities

• Nuo Therapeutics, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• $45,466,238 (dollar_amount) — Total assets as of June 30, 2024
• $44,241,516 (dollar_amount) — Total liabilities as of June 30, 2024

FAQ

Key Financial Figures

• $0.0001 — nding of the registrant's common stock, $0.0001 par value, was 45,466,238 . Table of C
• $250,000 — n excess of the FDIC insurance limit of $250,000 as of June 30, 2024. We maintain our ca

Filing Documents

• aurx20240630_10q.htm (10-Q) — 667KB
• ex_711137.htm (EX-10.2) — 39KB
• ex_711138.htm (EX-10.3) — 39KB
• ex_692593.htm (EX-31) — 12KB
• ex_692594.htm (EX-32) — 5KB
• logo.jpg (GRAPHIC) — 5KB
• 0001437749-24-025952.txt ( ) — 3766KB
• aurx-20240630.xsd (EX-101.SCH) — 34KB
• aurx-20240630_cal.xml (EX-101.CAL) — 26KB
• aurx-20240630_def.xml (EX-101.DEF) — 239KB
• aurx-20240630_lab.xml (EX-101.LAB) — 223KB
• aurx-20240630_pre.xml (EX-101.PRE) — 260KB
• aurx20240630_10q_htm.xml (XML) — 480KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Unaudited Consolidated Financial Statements

Item 1. Unaudited Consolidated Financial Statements 1

Management ' s Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 13

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 18

Controls and Procedures

Item 4. Controls and Procedures 18

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 19

Risk Factors

Item 1A. Risk Factors 19

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 19

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 19

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 19

Other Information

Item 5. Other Information 19

Exhibits

Item 6. Exhibits 20

Signatures

Signatures 21 Table of Contents PART I FINANCIAL INFORMATION

Consolidated Financial Statements

Item 1. Consolidated Financial Statements NUO THERAPEUTICS, INC. CONSOLIDATED BALANCE SHEETS (Unaudited) June 30, 2024 December 31, 2023 ASSETS Current assets Cash and cash equivalents $ 473,040 $ 928,681 Accounts receivable, net 304,971 250,703 Inventory, net 216,816 209,589 Prepaid expenses and other current assets 179,701 174,471 Total current assets 1,174,528 1,563,444 Property and equipment, net 41,648 45,082 Operating lease right of use assets 204,296 269,354 Total assets $ 1,420,472 $ 1,877,880 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 397,643 $ 394,518 Accrued expenses 230,277 188,622 Current portion of operating lease liabilities 62,432 91,387 Total current liabilities 690,352 674,527 Non-current portion of operating lease liabilities 131,607 164,205 Total liabilities 821,959 838,732 Commitments and contingencies (Note 6) Stockholders' equity Common stock; $ 0.0001 par value, 100,000,000 shares authorized, 45,466,238 and 44,241,516 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 4,547 4,424 Additional paid-in capital 31,779,079 30,970,965 Accumulated deficit ( 31,185,113 ) ( 29,936,241 ) Total stockholders' equity 598,513 1,039,148 Total liabilities and stockholders' equity $ 1,420,472 $ 1,877,880 See accompanying notes to unaudited consolidated financial statements. 1 Table of Contents NUO THERAPEUTICS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months ended June 30, 2024 Three Months ended June 30, 2023 Revenue Product sales $ 364,773 $ 118,169 Total revenue 364,773 118,169 Costs of sales 65,335 20,487 Gross profit 299,438 97,682 Operating expenses Selling, general and administrative 841,420 969,105 Total operating expenses 841,420 969,105 Loss from operations ( 541,982 ) ( 871,423 ) Other income (expense)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) Note 1 – Description of Business Description of Business Nuo Therapeutics, Inc. ("Nuo," the "Company," "we," "us," or "our") is a Delaware corporation organized in 1998 under the name Informatix Holdings, Inc. In 1999, Autologous Wound Therapy, Inc., an Arkansas Corporation, merged with and into Informatix Holdings, Inc. and the name of the surviving corporation was changed to Autologous Wound Therapy, Inc. In 2000, Autologous Wound Therapy, Inc. changed its name to Cytomedix, Inc. ("Cytomedix"). In 2001, Cytomedix, filed for bankruptcy from which it emerged in 2002 under a Plan of Reorganization. In September 2007, Cytomedix received 510 (k) clearance for the Aurix System ("Aurix"), formerly known as the AutoloGel System, from the U. S. Food and Drug Administration ("FDA"). In April 2010, Cytomedix acquired the Angel Whole Blood Separation System ("Angel") and the Angel Business, from Sorin Group USA, Inc. In February 2012, Cytomedix, acquired Aldagen, Inc. ("Aldagen"), a privately held developmental cell-therapy company located in Durham, NC. In 2014, Cytomedix changed its name to Nuo Therapeutics, Inc. In 2016, Nuo filed for and emerged from bankruptcy under Chapter 11. Effective May 1, 2019, we furloughed our remaining employees and ceased standard operational activities as we awaited developments concerning our reconsideration request with the Centers for Medicare & Medicaid Services ("CMS") regarding Medicare coverage for Aurix. Based on a favorable National Coverage Determination issued in April 2021, we initiated restart activities for the business beginning in October 2021. Aldagen is a non-operational, wholly owned subsidiary of Nuo. Note 2 – Liquidity and Summary of Significant Accounting Principles Liquidity Since our inception, we have financed our operations by raising debt, issuing equity and equity-linked instruments, and executing licensing arrangements, and to a lesser extent by ge

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