SANUWAVE Health Files Q2 2024 10-Q

TL;DR

SNWV Q2 10-Q is in. Check financials.

AI Summary

SANUWAVE Health, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported its financial results for the second quarter of 2024. Key financial data and operational updates are detailed within the filing.

Why It Matters

This filing provides investors with the latest financial performance and operational status of SANUWAVE Health, Inc., crucial for understanding the company's trajectory.

Risk Assessment

Risk Level: medium — As a publicly traded company, SANUWAVE Health, Inc. is subject to market fluctuations and regulatory oversight, making its risk level medium.

Key Players & Entities

• SANUWAVE Health, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240812 (date) — Filing date
• 30024 (dollar_amount) — ZIP code for business address

FAQ

Key Financial Figures

• $0.001 — hares of the registrant's common stock, $0.001 par value per share. Table of Content

Filing Documents

• snwv-20240630.htm (10-Q) — 994KB
• snwv-20240630xexx311.htm (EX-31.1) — 10KB
• snwv-20240630xexx312.htm (EX-31.2) — 10KB
• snwv-20240630xexx321.htm (EX-32.1) — 4KB
• snwv-20240630xexx322.htm (EX-32.2) — 4KB
• 0001628280-24-036760.txt ( ) — 5335KB
• snwv-20240630.xsd (EX-101.SCH) — 37KB
• snwv-20240630_cal.xml (EX-101.CAL) — 56KB
• snwv-20240630_def.xml (EX-101.DEF) — 227KB
• snwv-20240630_lab.xml (EX-101.LAB) — 496KB
• snwv-20240630_pre.xml (EX-101.PRE) — 346KB
• snwv-20240630_htm.xml (XML) — 631KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 4 Condensed Consolidated Balance Sheets as of June 30 , 2024, and December 31, 2023 4 Condensed Consolidated Statements of Comprehensive Loss for the three and six months ended June 30 , 2024, and 2023 5 Condensed Consolidated Statements of Stockholders' Deficit for the three and six months ended June 30 , 2024, and 2023 6 Condensed Consolidated Statements of Cash Flows for the six months ended June 30 , 2024, and 2023 8 Notes to Unaudited Condensed Consolidated Financial Statements 9 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 23 Item 4.

Controls and Procedures

Controls and Procedures 23

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 24 Item 1A.

Risk Factors

Risk Factors 24 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 24 Item 3. Defaults Upon Senior Securities 24 Item 4. Mine Safety Disclosures 24 Item 5. Other Information 25 Item 6. Exhibits 25

SIGNATURES

SIGNATURES 28 2 Table of Contents Special Note Regarding Forward-Looking Statements This Quarterly Report on Form 10-Q of SANUWAVE Health, Inc. and its subsidiaries ("SANUWAVE," the "Company," "we," "us," and "our") contains forward-looking statements. All statements in this Quarterly Report on Form 10-Q, 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 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 affect the level of demand for or the cost of our products; timing of clinical studies and any eventual U.S. Food and Drug Administration ("FDA") approval of new products and new uses of our current products; financial markets; the competitive environment; supplier and customer disputes; and our plans to remediate our material weaknesses in our disclosure controls and

-- FINANCIAL INFORMATION

PART I -- FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS SANUWAVE HEALTH, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (In thousands, except share data) June 30, 2024 December 31, 2023 ASSETS Current Assets: Cash and cash equivalent $ 2,460 $ 1,797 Accounts receivable, net of allowance of $ 1,194 and $ 1,237 , as of June 30, 2024 and December 31, 2023, respectively 3,154 3,314 Inventory 2,731 2,951 Prepaid expenses and other current assets 379 1,722 Total Current Assets 8,724 9,784 Property, equipment and other, net 947 938 Intangible assets, net 4,082 4,434 Goodwill 7,260 7,260 Total Non-current Assets 12,289 12,632 Total Assets $ 21,013 $ 22,416 LIABILITIES Current Liabilities: Senior secured debt, in default $ 23,424 $ 18,278 Convertible promissory notes payable 3,953 5,404 Convertible promissory notes payable, related parties 2,454 1,705 Asset-backed secured promissory notes - 3,117 Asset-backed secured promissory notes, related parties - 1,458 Promissory note payable, related party 500 - Accounts payable 3,891 5,705 Accrued expenses 4,794 5,999 Factoring liabilities 2,321 1,490 Warrant liability 16,864 14,447 Accrued interest 396 5,444 Accrued interest, related parties 841 669 Current portion of contract liabilities 130 92 Other 397 947 Total Current Liabilities 59,965 64,755 Non-current Liabilities Lease liabilities 304 492 Contract liabilities 350 347 Total Non-current Liabilities 654 839 Total Liabilities $ 60,619 $ 65,594 Commitments and Contingencies (Footnote 14) STOCKHOLDERS' DEFICIT Preferred Stock, par value $ 0.001 , 5,000,000 shares authorized; 6,175 shares Series A, 293 shares Series B, 90 shares Series C and 8 shares Series D authorized; no shares issued and outstanding at June 30, 2024 and December 31, 2023 $ - $ - Common stock, par value $ 0.001 , 2,500,000,000 shares authorized; 1,181,272,961 and 1,140,559,527 issued and outstanding at June 30, 2024 and December 3

View Full Filing

View this 10-Q filing on SEC EDGAR