SANUWAVE Health Files 2023 Annual Report on Form 10-K

TL;DR

<b>SANUWAVE Health, Inc. has filed its annual report detailing its 2023 fiscal year performance and corporate information.</b>

AI Summary

SANUWAVE Health, Inc. (SNWV) filed a Annual Report (10-K) with the SEC on March 21, 2024. SANUWAVE Health, Inc. filed its 2023 Form 10-K on March 21, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal executive offices are located in Suwanee, Georgia. SANUWAVE Health, Inc. was formerly known as RUB MUSIC ENTERPRISES, INC. until November 6, 2007. The company is classified under SIC code 3841 for Surgical & Medical Instruments & Apparatus.

Why It Matters

For investors and stakeholders tracking SANUWAVE Health, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of SANUWAVE Health's financial health, operational activities, and strategic direction for the fiscal year 2023, which is crucial for investors to assess the company's performance and future prospects. Understanding the company's historical name changes and current business address is important for tracking its corporate evolution and operational base.

Risk Assessment

Risk Level: low — SANUWAVE Health, Inc. shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate, significant financial or operational disclosures that would indicate a high-risk event.

Analyst Insight

Review the full 10-K filing for detailed financial statements, risk factors, and management discussion to understand SANUWAVE Health's performance and outlook.

Key Numbers

• 20231231 — Fiscal Year End (Period of report)
• 20240321 — Filing Date (Date the 10-K was filed)
• 2023-01-01 — Fiscal Year Start (Beginning of the reporting period)
• 2022-12-31 — Prior Year End (End of the previous fiscal year)

Key Players & Entities

• SANUWAVE Health, Inc. (company) — Filer name
• RUB MUSIC ENTERPRISES, INC. (company) — Former company name
• Suwanee, GA (location) — Business address city and state
• 30024 (location) — Business address zip code
• 770-419-7525 (phone) — Business phone number
• NV (location) — State of incorporation
• 201176000 (tax_id) — IRS number
• 3841 (sic_code) — Standard Industrial Classification

FAQ

Industry Context

SANUWAVE Health operates in the medical instruments and apparatus industry, focusing on devices for surgical and medical applications.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies, including the annual filing of a Form 10-K.

What Investors Should Do

1. Thoroughly review the financial statements and Management's Discussion and Analysis (MD&A) section of the 10-K for detailed insights into SANUWAVE Health's financial performance and operational results for FY 2023.
2. Examine the Risk Factors section to understand potential challenges and uncertainties facing the company.
3. Note any disclosures regarding related party transactions or significant corporate events mentioned in the filing.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-21: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This filing is the annual 10-K report for the fiscal year ended December 31, 2023, providing a comprehensive update compared to previous filings.

Key Financial Figures

• $0.001 — g) of the Act: Common Stock, par value $0.001 per share Indicate by check mark if th
• $0.0001 — Class A common stock of SEPA, par value $0.0001 per share, at the Conversion Ratio (as
• $12,000,000 — . SEPA having at the Closing, at least $12,000,000 in cash and cash equivalents, including

Filing Documents

• ef20015276_10k.htm (10-K) — 2063KB
• ef20015276_ex21-1.htm (EX-21.1) — 3KB
• ef20015276_ex23-1.htm (EX-23.1) — 2KB
• ef20015276_ex31-1.htm (EX-31.1) — 13KB
• ef20015276_ex31-2.htm (EX-31.2) — 13KB
• ef20015276_ex32-1.htm (EX-32.1) — 4KB
• ef20015276_ex32-2.htm (EX-32.2) — 4KB
• 0001140361-24-014611.txt (&nbsp;) — 9238KB
• snwv-20231231.xsd (EX-101.SCH) — 77KB
• snwv-20231231_cal.xml (EX-101.CAL) — 79KB
• snwv-20231231_def.xml (EX-101.DEF) — 333KB
• snwv-20231231_lab.xml (EX-101.LAB) — 902KB
• snwv-20231231_pre.xml (EX-101.PRE) — 524KB
• ef20015276_10k_htm.xml (XML) — 1349KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 15 Item 1B. Unresolved Staff Comments 31 Item 1C. Cybersecurity 31 Item 2.

Properties

Properties 32 Item 3.

Legal Proceedings

Legal Proceedings 32 Item 4. Mine Safety Disclosures 32 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 32 Item 6. [Reserved] 32 Item 7.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 32 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 37 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 38 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 39 Item 9A.

Controls and Procedures

Controls and Procedures 39 Item 9B. Other Information 40 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 40 PART III Item 10. Directors, Executive Officers and Corporate Governance 40 Item 11.

Executive Compensation

Executive Compensation 44 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 47 Item 13. Certain Relationships and Related Transactions and Director Independence 49 Item 14. Principal Accountant Fees and Services 50 PART IV Item 15. Exhibits and Financial Statement Schedules 51 Item 16. Form 10-K Summary 56 Table of Contents PART I Special Note Regarding Forward-Looking Statements This Annual Report on Form 10-K of SANUWAVE Health, Inc. and its subsidiaries ("SANUWAVE" or the "Company") contains forward-looking statements. All statements in this Annual Report on Form 10-K, including those made by the management of the Company, other than statements of historical fact, are forward-looking statements. Examples of forward-looking statements include statements regarding: our proposed business combination with Sep Acquisition Corp., results of operations, liquidity, and operations, restrictions and new regulations on our operations and processes, including the execution of clinical trials; the Company's future financial results, operating results, and projected costs; market acceptance of and demand for UltraMIST and PACE , success of future business development and acquisition activities; management's plans and objectives for future operations; industry trends; regulatory actions that could adversely affect the price of or demand for our approved products; our intellectual property portfolio; our business, marketing and manufacturing capacity and strategy; estimates regarding our capital requirements, the anticipated timing of the need for additional funds, and our expectations regarding future capital-raising transactions, including through investments by strategic partners for market opportunities, which may include strategic partnerships or licensing agreements, or raising capital through the conversion of outstanding warrants or issuances of securities; product liability claims; economic conditions that could adversely affec

BUSINESS

BUSINESS Overview The Company is an ultrasound and shock wave technology company using patented systems of noninvasive, high-energy, acoustic shock waves or low intensity and non-contact ultrasound for regenerative medicine and other applications. Our focus is regenerative medicine utilizing noninvasive, acoustic shock waves or ultrasound to produce a biological response resulting in the body healing itself through the repair and regeneration of tissue, musculoskeletal, and vascular structures. Our two primary systems are UltraMIST and PACE . UltraMIST and PACE are the only two Food and Drug Administration (FDA) approved directed energy systems for wound healing. The UltraMIST system provides, through a fluid mist, low-frequency, non-contact, and pain free ultrasound energy deep inside the wound bed that promotes healing from within. The ultrasound acoustic waves promote healing by reducing inflammation and bacteria in the wound bed, while also increasing the growth of new blood vessels to the area. The UltraMIST system treatment must be administered by a healthcare professional. This proprietary technology has been cleared by the FDA for the promotion of wound healing through wound cleansing and maintenance debridement combined with ultrasound energy deposited inside the wound that stimulated tissue regeneration. The UltraMIST System is cleared for marketing in the U.S. by the FDA (K140782) but is not approved/cleared/licensed in any other jurisdiction. The PACE systems use acoustic pressure shockwaves generated by the Company's Pulsed Acoustic Cellular Expression (PACE) technology to converge at precise selected targets to produce an extremely short duration compression burst. The precise targeting of tissue with PACE technology provides healthcare professionals with a tool to positively influence cellular form and function, which can result in pain relief, improved circulation, and tissue regeneration. The PACE system treatment must be administered by a healt

View Full Filing

View this 10-K filing on SEC EDGAR