Nuo Therapeutics Files Q3 2024 10-Q

TL;DR

Nuo Therapeutics filed its Q3 2024 10-Q. Check financials.

AI Summary

Nuo Therapeutics, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported financial results for the nine months and third quarter of 2024, detailing its operational and financial standing. Specific financial figures and operational highlights for these periods are detailed within the filing.

Why It Matters

This filing provides investors with an update on Nuo Therapeutics' financial performance and operational status for the third quarter of 2024, crucial for assessing the company's trajectory.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information which can reveal significant risks or opportunities, but it's not an event-driven filing like an 8-K.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
• 2024-11-12 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Nuo Therapeutics, Inc. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of the reporting period
• 2024-11-12 (date) — Filing date

FAQ

Key Financial Figures

• $0.0001 — nding of the registrant's common stock, $0.0001 par value, was 46,598,405 . Table of C
• $250,000 — n excess of the FDIC insurance limit of $250,000 as of September 30, 2024. We maintain o

Filing Documents

• aurx20240930_10q.htm (10-Q) — 697KB
• ex_734015.htm (EX-31) — 12KB
• ex_734016.htm (EX-32) — 5KB
• logo.jpg (GRAPHIC) — 5KB
• 0001437749-24-034325.txt ( ) — 3880KB
• aurx-20240930.xsd (EX-101.SCH) — 36KB
• aurx-20240930_def.xml (EX-101.DEF) — 266KB
• aurx-20240930_lab.xml (EX-101.LAB) — 237KB
• aurx-20240930_pre.xml (EX-101.PRE) — 285KB
• aurx-20240930_cal.xml (EX-101.CAL) — 26KB
• aurx20240930_10q_htm.xml (XML) — 503KB

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 20

Risk Factors

Item 1A. Risk Factors 20

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 20

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 20

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 20

Other Information

Item 5. Other Information 20

Exhibits

Item 6. Exhibits 21

Signatures

Signatures 22 Table of Contents PART I FINANCIAL INFORMATION

Consolidated Financial Statements

Item 1. Consolidated Financial Statements NUO THERAPEUTICS, INC. CONSOLIDATED BALANCE SHEETS (Unaudited) September 30, 2024 December 31, 2023 ASSETS Current assets Cash and cash equivalents $ 683,836 $ 928,681 Accounts receivable, net 329,211 250,703 Inventory, net 167,771 209,589 Prepaid expenses and other current assets 161,943 174,471 Total current assets 1,342,761 1,563,444 Property and equipment, net 188,537 45,082 Operating lease right of use assets 187,805 269,354 Total assets $ 1,719,103 $ 1,877,880 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 385,417 $ 394,518 Accrued expenses 263,991 188,622 Current portion of operating lease liabilities 64,619 91,387 Total current liabilities 714,027 674,527 Non-current portion of operating lease liabilities 114,689 164,205 Total liabilities 828,716 838,732 Commitments and contingencies (Note 6) Stockholders' equity Common stock; $ 0.0001 par value, 100,000,000 shares authorized, 46,598,405 and 44,241,516 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 4,660 4,424 Additional paid-in capital 32,649,007 30,970,965 Accumulated deficit ( 31,763,280 ) ( 29,936,241 ) Total stockholders' equity 890,387 1,039,148 Total liabilities and stockholders' equity $ 1,719,103 $ 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 September 30, 2024 Three Months ended September 30, 2023 Revenue Product sales $ 370,951 $ 232,241 Total revenue 370,951 232,241 Costs of sales 100,504 53,818 Gross profit 270,447 178,423 Operating expenses Selling, general and administrative 847,820 967,976 Total operating expenses 847,820 967,976 Loss fr

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 gen

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View this 10-Q filing on SEC EDGAR