Q3 2024 revenues were $9.4 million, up 89% from Q3
2023. This was an all-time quarterly record for the
Company.
Q3 2024 gross margin was 75.5%, vs 71.5% in Q3 2023
GAAP Operating Income was $2.0 million
Company provides guidance for revenue growth of 40-50% for
Q4 2024 versus Q4 2023
EDEN PRAIRIE, MN -- November 8, 2024 -- InvestorsHub
NewsWire -- SANUWAVE Health, Inc. (the "Company" or
"SANUWAVE") (OTCQB:
SNWV), a leading provider of next-generation FDA-approved wound
care products, is pleased to provide its financial results for the
three months ended September 30, 2024.
Q3 2024 ended September 30, 2024
- Revenue for the three months ended September 30, 2024, totaled
$9.4 million, an increase of 89%, as compared to $5.0 million for
the same period of 2023. This growth is greater than the
previously provided guidance for a 65 – 75% increase.
- 124 UltraMist® systems were sold in Q3 2024 up from 55 in Q3
2023 and from 72 in Q2 2024.
- UltraMist® consumables revenue increased by 75% to $5.4 million
(58% of revenues) in Q3 2024, versus $3.1 million for the same
quarter last year. UltraMIST systems and consumables remained the
primary revenue growth driver and continued to represent over 97%
of SANUWAVE's overall revenues in Q3 2024.
- Gross margin as a percentage of revenue amounted to 75.5% for
the three months ended September 30, 2024, versus 71.5% for the
same period last year.
- For the three months ended September 30, 2024, operating income
totaled $2.0 million, an increase of $2.5 million compared to Q3
2023 as a result of the Company's continued efforts to drive
profitable growth and manage expenses.
- Net loss for the third quarter of 2024 was $20.7 million,
driven predominantly by the change in the fair value of derivative
liabilities. This compares to a net loss of $23.7 million in
the third quarter of 2023. Net loss year to date was $18.6
million versus a net loss of $44.0 million in the nine months ended
September 30, 2023.
- Adjusted EBITDA [1] for the three months ended September 30,
2024, was $2.1 million versus Adjusted EBITDA of $(0.3) million for
the same period last year, an improvement of $2.4 million.
Year to date Adjusted EBITDA was $3.5 million versus a loss of $1.8
million in the prior year period.
"The third quarter showed acceleration in revenue growth rate
from the first half of the year with growth of 89% year on year
(and 31% sequentially) leading the company to a growth rate of 68%
for the first nine months of 2024 as compared to the same period in
2023," said Morgan Frank, CEO. "Obviously, we're very pleased
with these results, especially to have achieved operating income
and Adjusted EBITDA positivity again this quarter and, for the
first time, became cash generative from operations even after cash
interest expense. We have begun to gain traction with some
larger customers and our sales funnel remains the most promising it
has ever been. As we look to the fourth quarter, we will seek
to build on this progress as we continue to hire additional sales
and commercial staff. We expect to experience a bit of a
'pigs through a python' scenario for us over the coming months and
quarters, as large orders move the needle on revenues in
significant and variable fashion, but we anticipate finishing 2024
strongly as a breakout year for SANUWAVE."
Financial Outlook
The Company forecasts Q4 2024 revenue of $9.7 to $10.5 million
(40-50% increase from Q4 2023) and therefore for revenues for 2024
as a whole to be in excess of $32 million (an increase of 57% vs
full year 2023). The Company forecasts Q4 gross margin as a
percentage of revenue to remain in the mid-70s.
Subsequent to quarter end, the Company effected a 1-for-375
reverse stock split on October 18, 2024, completed its note and
warrant exchange, and raised $10.3 million in a private placement,
simplifying the Company's capital structure and leaving it with
approximately 8.5 million shares outstanding. Details of this
transaction can be found on the SANUWAVE website https://sanuwave.com/investors/press-release-details?newsId=OxzYFl0t620enXp1VyUG
or in its filings with the SEC.
As previously announced, a business update will occur via
conference call on November 8, 2024 at 8:30 a.m. EST. Materials for
the conference call are included on the Company's website at
http://www.sanuwave.com/investors
Telephone access to the call will be available by dialing the
following numbers:
Toll Free: 1-800-267-6316
Toll/International: 1-203-518-9783
Conference ID: SANUWAVE
OR click the link for instant telephone access to the event.
https://viavid.webcasts.com/starthere.jsp?ei=1692398&tp_key=e3cff43c54
A replay will be made available through November 29, 2024:
Toll-Free: 1-844-512-2921
Toll/International: 1-412-317-6671
Replay Access ID: 11157276
[1] This is a non-GAAP financial measure. Refer to "Non-GAAP
Financial Measures" and the reconciliations in this release for
further information.
About SANUWAVE
SANUWAVE Health is focused on the research, development, and
commercialization of its patented, non-invasive and biological
response-activating medical systems for the repair and regeneration
of skin, musculoskeletal tissue, and vascular structures.
SANUWAVE's end-to-end wound care portfolio of regenerative
medicine products and product candidates helps restore the body's
normal healing processes. SANUWAVE applies and researches its
patented energy transfer technologies in wound healing,
orthopedic/spine, aesthetic/cosmetic, and cardiac/endovascular
conditions.
Non-GAAP Financial Measures
This press release includes certain financial measures that are
not presented in our financial statements prepared in accordance
with accounting principles generally accepted in the United States
("U.S. GAAP"). These financial measures are considered "non-GAAP
financial measures" and are intended to supplement, and should not
be considered as superior to, or a replacement for, financial
measures presented in accordance with U.S. GAAP.
The Company uses Earnings Before Interest, Taxes, Depreciation
and Amortization ("EBITDA") and Adjusted EBITDA to assess its
operating performance. Adjusted EBITDA is Earnings before Interest,
Taxes, Depreciation and Amortization adjusted for the change in
fair value of derivatives and any significant non-cash or
infrequent charges. EBITDA and Adjusted EBITDA should not be
considered as alternatives to net income (loss) as a measure of
financial performance or any other performance measure derived in
accordance with U.S. GAAP, and they should not be construed as an
inference that the Company's future results will be unaffected by
unusual or infrequent items. These non-GAAP financial measures are
presented in a consistent manner for each period, unless otherwise
disclosed. The Company uses these measures for the purpose of
evaluating its historical and prospective financial performance, as
well as its performance relative to competitors. These measures
also help the Company to make operational and strategic decisions.
The Company believes that providing this information to investors,
in addition to U.S. GAAP measures, allows them to see the Company's
results through the eyes of management, and to better understand
its historical and future financial performance. These non-GAAP
financial measures are also frequently used by analysts, investors,
and other interested parties to evaluate companies in our industry,
when considered alongside other U.S. GAAP measures.
EBITDA and Adjusted EBITDA have their limitations as analytical
tools, and you should not consider them in isolation or as a
substitute for analysis of the Company's results as reported under
U.S. GAAP. Some of these limitations are that EBITDA and Adjusted
EBITDA:
- Do not reflect every expenditure, future requirements for
capital expenditures or contractual commitments.
- Do not reflect all changes in our working capital needs.
- Do not reflect interest expense, or the amount necessary to
service our outstanding debt.
As presented in the U.S. GAAP to Non-GAAP Reconciliations
section below, the Company's non-GAAP financial measures exclude
the impact of certain charges that contribute to our net income
(loss).
Forward-Looking Statements
This press release may contain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995, such as statements relating to future financial
results, production expectations, and plans for future business
development activities. Forward-looking statements include all
statements that are not statements of historical fact regarding
intent, belief or current expectations of the Company, its
directors or its officers. Investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, many of which are beyond the
Company's ability to control. Actual results may differ materially
from those projected in the forward-looking statements. Among the
key risks, assumptions and factors that may affect operating
results, performance and financial condition are risks associated
with regulatory oversight, the Company's ability to manage its
capital resources, competition and the other factors discussed in
detail in the Company's periodic filings with the Securities and
Exchange Commission. The Company undertakes no obligation to update
any forward-looking statement.
Contact: investors@sanuwave.com
SELECTED FINANCIAL DATA
FOR THE QUARTERS ENDED SEPTEMBER 30, 2024 AND 2023
|
(in thousands)
|
|
|
2024
|
|
2023
|
|
|
|
|
|
|
|
|
Revenue
|
|
|
$
9,360
|
|
$
4,953
|
|
Cost of Revenues
|
|
|
2,293
|
|
1,412
|
|
|
|
|
|
|
|
|
Gross Margin
|
|
|
7,067
|
|
3,541
|
|
Gross Margin %
|
|
|
75.5 %
|
|
71.5 %
|
|
|
|
|
|
|
|
|
Total operating expenses
|
|
|
5,114
|
|
4,072
|
|
Operating Income (Loss)
|
|
|
$
1,953
|
|
$
(531)
|
|
|
|
|
|
|
|
|
Total other expense
|
|
|
(22,610)
|
|
(23,169)
|
|
|
|
|
|
|
|
|
Net Income (Loss)
|
|
|
$
(20,657)
|
|
$
(23,700)
|
NON-GAAP ADJUSTED EBITDA
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
|
(in thousands)
|
2024
|
|
2023
|
|
2024
|
|
2023
|
|
|
|
|
|
|
|
|
|
|
Net Income/(Loss)
|
$
(20,657)
|
|
$
(23,700)
|
|
$
(18,624)
|
|
$
(44,042)
|
|
Non-GAAP Adjustments:
|
|
|
|
|
|
|
|
|
Interest expense
|
3,661
|
|
3,845
|
|
11,004
|
|
12,504
|
|
Depreciation and amortization
|
256
|
|
266
|
|
736
|
|
780
|
|
EBITDA
|
(16,740)
|
|
(19,589)
|
|
(6,884)
|
|
(30,758)
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP Adjustments for Adjusted EBITDA:
|
|
|
|
|
|
|
|
|
Change in fair value of derivative liabilities
|
18,849
|
|
19,325
|
|
17,633
|
|
29,943
|
|
Other non-cash or non-recurring charges:
|
|
|
|
|
|
|
|
|
Gain on extinguishment of debt
|
-
|
|
-
|
|
(5,205)
|
|
-
|
|
Severance agreement and legal settlement
|
-
|
|
-
|
|
585
|
|
-
|
|
Release of historical accrued expenses
|
-
|
|
-
|
|
(579)
|
|
(1,250)
|
|
Shares for services
|
-
|
|
-
|
|
-
|
|
224
|
|
License and option agreement
|
-
|
|
-
|
|
(2,500)
|
|
-
|
|
Prepaid legal fees expensed from termination of Merger
Agreement
|
-
|
|
-
|
|
457
|
|
-
|
|
Adjusted EBITDA
|
$
2,109
|
|
$
(264)
|
|
$
3,507
|
|
$
(1,841)
|
CONDENSED CONSOLIDATED BALANCE SHEETS
|
(In thousands, except share data)
|
September 30, 2024
|
|
December 31, 2023
|
|
ASSETS
|
|
|
|
|
Current Assets:
|
|
|
|
|
Cash and cash equivalent
|
$
3,259
|
|
$
1,797
|
|
Accounts receivable, net of allowance of $1,056 and $1,237,
respectively
|
2,836
|
|
3,314
|
|
Inventory
|
3,431
|
|
2,951
|
|
Prepaid expenses and other current assets
|
378
|
|
1,722
|
|
Total Current Assets
|
9,904
|
|
9,784
|
|
Non-Current Assets:
|
|
|
|
|
Property, equipment and other, net
|
774
|
|
938
|
|
Intangible assets, net
|
3,906
|
|
4,434
|
|
Goodwill
|
7,260
|
|
7,260
|
|
Total Non-current Assets
|
11,940
|
|
12,632
|
|
|
|
|
|
|
Total Assets
|
$
21,844
|
|
$
22,416
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
Current Liabilities:
|
|
|
|
|
Senior secured debt, in default
|
$
24,426
|
|
$
18,278
|
|
Convertible promissory notes payable
|
4,817
|
|
5,404
|
|
Convertible promissory notes payable, related parties
|
2,838
|
|
1,705
|
|
Asset-backed secured promissory notes payable
|
—
|
|
3,117
|
|
Asset-backed secured promissory notes, related parties
|
—
|
|
1,458
|
|
Promissory note payable, related party
|
500
|
|
-
|
|
Accounts payable
|
4,137
|
|
5,705
|
|
Accrued expenses
|
5,241
|
|
5,999
|
|
Factoring liabilities
|
1,938
|
|
1,490
|
|
Warrant liability
|
35,509
|
|
14,447
|
|
Accrued interest
|
643
|
|
5,444
|
|
Accrued interest, related parties
|
952
|
|
669
|
|
Current portion of contract liabilities
|
137
|
|
92
|
|
Other
|
375
|
|
947
|
|
Total Current Liabilities
|
81,513
|
|
64,755
|
|
Non-current Liabilities
|
|
|
|
|
Lease liabilities, less current portion
|
236
|
|
492
|
|
Contract liabilities, less current portion
|
358
|
|
347
|
|
Total Non-current Liabilities
|
594
|
|
839
|
|
|
|
|
|
|
Total Liabilities
|
$
82,107
|
|
$
65,594
|
|
|
|
|
|
|
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
September 30, 2024 and December 31, 2023
|
$
-
|
|
$
-
|
|
Common stock, par value $0.001, 2,500,000,000 shares authorized;
3,150,062 and 3,041,492 issued and outstanding at September 30,
2024 and December 31, 2023, respectively *
|
3
|
|
3
|
|
Additional paid-in capital
|
178,397
|
|
176,979
|
|
Accumulated deficit
|
(238,673)
|
|
(220,049)
|
|
Accumulated other comprehensive income (loss)
|
10
|
|
(111)
|
|
Total Stockholders' Deficit
|
(60,263)
|
|
(43,178)
|
|
Total Liabilities and Stockholders' Deficit
|
$
21,844
|
|
$
22,416
|
|
|
|
|
|
* Reflects a one-for-three hundred seventy-five (1:375) reverse
stock split of the outstanding shares of the Company's common stock
effected on October 18, 2024
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
|
(In thousands, except share data)
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
|
|
2024
|
|
2023
|
|
2024
|
|
2023
|
|
|
|
|
|
|
|
|
|
|
Revenue
|
$
9,360
|
|
$
4,953
|
|
$
22,308
|
|
$
13,404
|
|
Cost of Revenues
|
2,293
|
|
1,412
|
|
5,799
|
|
3,876
|
|
|
|
|
|
|
|
|
|
|
Gross Margin
|
7,067
|
|
3,541
|
|
16,509
|
|
9,528
|
|
|
|
|
|
|
|
|
|
|
Operating Expenses:
|
|
|
|
|
|
|
|
|
General and administrative
|
2,545
|
|
2,681
|
|
8,059
|
|
6,678
|
|
Selling and marketing
|
2,202
|
|
1,039
|
|
4,468
|
|
3,430
|
|
Research and development
|
161
|
|
165
|
|
519
|
|
436
|
|
Depreciation and amortization
|
206
|
|
187
|
|
568
|
|
563
|
|
Total Operating Expenses
|
5,114
|
|
4,072
|
|
13,614
|
|
11,107
|
|
|
|
|
|
|
|
|
|
|
Operating Income (Loss)
|
1,953
|
|
(531)
|
|
2,895
|
|
(1,579)
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense):
|
|
|
|
|
|
|
|
|
Interest expense
|
(3,315)
|
|
(2,907)
|
|
(9,948)
|
|
(10,125)
|
|
Interest expense, related party
|
(346)
|
|
(938)
|
|
(1,056)
|
|
(2,379)
|
|
Gain on extinguishment of debt
|
—
|
|
-
|
|
5,205
|
|
-
|
|
Change in fair value of derivative liabilities
|
(18,849)
|
|
(19,325)
|
|
(17,633)
|
|
(29,943)
|
|
Other expense
|
(106)
|
|
-
|
|
(893)
|
|
(16)
|
|
Other income
|
6
|
|
1
|
|
2,806
|
|
-
|
|
Total Other Expense
|
(22,610)
|
|
(23,169)
|
|
(21,519)
|
|
(42,463)
|
|
|
|
|
|
|
|
|
|
|
Net Loss
|
(20,657)
|
|
(23,700)
|
|
(18,624)
|
|
(44,042)
|
|
|
|
|
|
|
|
|
|
|
Other Comprehensive Loss
|
|
|
|
|
|
|
|
|
Foreign currency translation adjustments
|
—
|
|
7
|
|
121
|
|
(6)
|
|
Total Comprehensive Loss
|
$
(20,657)
|
|
$
(23,693)
|
|
$
(18,503)
|
|
$
(44,048)
|
|
|
|
|
|
|
|
|
|
|
Net Loss per share:
|
|
|
|
|
|
|
|
|
Basic and Diluted *
|
$
(6.49)
|
|
$
(9.95)
|
|
$
(5.92)
|
|
$
(24.15)
|
|
Weighted average shares outstanding:
|
|
|
|
|
|
|
|
|
Basic and Diluted *
|
3,185
|
|
2,381
|
|
3,146
|
|
1,823
|
* Reflects a one-for-three hundred seventy-five (1:375) reverse
stock split of the outstanding shares of the Company's common stock
effected on October 18, 2024
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT
|
(In thousands, except share data)
|
|
Three Months Ended September 30, 2024
|
|
|
|
Common Stock
|
|
|
|
|
|
|
|
|
|
|
|
Number of Shares
Issued and Outstanding
|
|
Par Value
|
|
Additional Paid-
in Capital
|
|
Accumulated
Deficit
|
|
Accumulated Other Comprehensive
Loss
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances as of June 30, 2024
|
|
3,150,062
|
|
$
3
|
|
$
178,397
|
|
$
(218,016)
|
|
$
10
|
|
$
(39,606)
|
|
Net loss
|
|
-
|
|
-
|
|
-
|
|
(20,657)
|
|
-
|
|
(20,657)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances as of September 30, 2024
|
|
3,150,062
|
|
$
3
|
|
$
178,397
|
|
$
(238,673)
|
|
$
10
|
|
$
(60,263)
|
|
Three Months Ended September 30, 2023
|
|
|
|
Common Stock
|
|
|
|
|
|
|
|
|
|
|
|
Number of Shares
Issued and Outstanding
|
|
Par Value
|
|
Additional Paid-
in Capital
|
|
Accumulated Deficit
|
|
Accumulated Other Comprehensive
Loss
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances as of June 30, 2023
|
|
1,497,700
|
|
$
2
|
|
$
153,824
|
|
$
(214,584)
|
|
$
(80)
|
|
$
(60,838)
|
|
Shares issued for settlement of debt
|
|
1,238,509
|
|
1
|
|
18,576
|
|
-
|
|
-
|
|
$
18,577
|
|
Foreign currency translation adjustment
|
|
-
|
|
-
|
|
-
|
|
-
|
|
7
|
|
$
7
|
|
Net loss
|
|
-
|
|
-
|
|
-
|
|
(23,700)
|
|
-
|
|
$
(23,700)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances as of September 30, 2023
|
|
2,736,209
|
|
$
3
|
|
$
172,400
|
|
$
(238,284)
|
|
$
(73)
|
|
$
(65,954)
|
* Reflects a one-for-three hundred seventy-five (1:375) reverse
stock split of the outstanding shares of the Company's common stock
effected on October 18, 2024
|
Nine Months Ended September 30,
|
|
|
|
Common Stock
|
|
|
|
|
|
|
|
|
|
|
|
Number of Shares
Issued and Outstanding
|
|
Par Value
|
|
Additional Paid-
in Capital
|
|
Accumulated
Deficit
|
|
Accumulated Other Comprehensive
Loss
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances as of December 31, 2023
|
|
3,041,492
|
|
$
3
|
|
$
176,979
|
|
$
(220,049)
|
|
$
(111)
|
|
$
(43,178)
|
|
Shares issued for settlement of warrants
|
|
14,440
|
|
-
|
|
6
|
|
-
|
|
-
|
|
6
|
|
Shares issued for settlement of debt
|
|
94,130
|
|
-
|
|
1,412
|
|
-
|
|
-
|
|
1,412
|
|
Foreign currency translation adjustment
|
|
-
|
|
-
|
|
-
|
|
-
|
|
121
|
|
121
|
|
Net loss
|
|
-
|
|
-
|
|
-
|
|
(18,624)
|
|
-
|
|
(18,624)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances as of September 30, 2024
|
|
3,150,062
|
|
$
3
|
|
$
178,397
|
|
$
(238,673)
|
|
$
10
|
|
$
(60,263)
|
|
Nine Months Ended September 30, 2023
|
|
|
|
Common Stock
|
|
|
|
|
|
|
|
|
|
|
|
Number of Shares
Issued and Outstanding
|
|
Par Value
|
|
Additional Paid-
in Capital
|
|
Accumulated Deficit
|
|
Accumulated Other Comprehensive
Loss
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances as of December 31, 2022
|
|
1,463,300
|
|
$
1
|
|
$
153,298
|
|
$
(194,242)
|
|
$
(67)
|
|
$
(41,010)
|
|
Shares issued for services
|
|
34,400
|
|
1
|
|
526
|
|
-
|
|
-
|
|
527
|
|
Shares issued for settlement of debt
|
|
1,238,509
|
|
1
|
|
18,576
|
|
-
|
|
-
|
|
$
18,577
|
|
Foreign currency translation adjustment
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(6)
|
|
(6)
|
|
Net loss
|
|
-
|
|
-
|
|
-
|
|
(44,042)
|
|
-
|
|
(44,042)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances as of September 30, 2023
|
|
2,736,209
|
|
$
3
|
|
$
172,400
|
|
$
(238,284)
|
|
$
(73)
|
|
$
(65,954)
|
* Reflects a one-for-three hundred seventy-five (1:375) reverse
stock split of the outstanding shares of the Company's common stock
effected on October 18, 2024
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
|
(In thousands)
|
Nine Months Ended September 30,
|
|
|
2024
|
|
2023
|
|
Cash Flows - Operating Activities:
|
|
|
|
|
Net Loss
|
$
(18,624)
|
|
$
(44,042)
|
|
Adjustments to reconcile net loss to net cash used by operating
activities
|
|
|
|
|
Depreciation and amortization
|
736
|
|
780
|
|
Bad debt expense
|
16
|
|
547
|
|
Shares issued for services
|
-
|
|
224
|
|
Gain on extinguishment of debt
|
(5,205)
|
|
-
|
|
Change in fair value of derivative liabilities
|
17,633
|
|
29,943
|
|
Amortization of debt issuance costs and original issue
discount
|
4,792
|
|
5,656
|
|
Accrued interest
|
2,749
|
|
5,529
|
|
Changes in operating assets and liabilities
|
|
|
|
|
Accounts receivable
|
66
|
|
253
|
|
Inventory
|
(480)
|
|
(844)
|
|
Prepaid expenses and other assets
|
225
|
|
(487)
|
|
Accounts payable
|
(1,013)
|
|
464
|
|
Accrued expenses
|
763
|
|
(1,326)
|
|
Contract liabilities
|
56
|
|
50
|
|
Net Cash Provided by (Used in) Operating Activities
|
1,714
|
|
(3,253)
|
|
|
|
|
|
|
Cash Flows - Investing Activities
|
|
|
|
|
Proceeds from sale of property and equipment
|
-
|
|
13
|
|
Purchase of property and equipment
|
(254)
|
|
(169)
|
|
Net Cash Flows Used in Investing Activities
|
(254)
|
|
(156)
|
|
|
|
|
|
|
Cash Flows - Financing Activities
|
|
|
|
|
Proceeds from convertible promissory notes
|
-
|
|
1,202
|
|
Payment of note payable
|
(2,175)
|
|
-
|
|
Proceeds from convertible notes payable
|
1,300
|
|
-
|
|
Proceeds from promissory note payable, related party
|
500
|
|
-
|
|
Proceeds from bridge notes advance
|
-
|
|
2,994
|
|
Proceeds (Payments) from factoring, net
|
449
|
|
(710)
|
|
Payments of principal on finance leases
|
(193)
|
|
(130)
|
|
Net Cash Flow (Used in) Provided by Financing Activities
|
(119)
|
|
3,356
|
|
|
|
|
|
|
Effect of Exchange Rates on Cash
|
121
|
|
(5)
|
|
|
|
|
|
|
Net Change in Cash During Period
|
1,462
|
|
(58)
|
|
|
|
|
|
|
Cash at Beginning of Period
|
1,797
|
|
1,153
|
|
Cash at End of Period
|
$
3,259
|
|
$
1,095
|
|
|
|
|
|
|
Supplemental Information:
|
|
|
|
|
Cash paid for interest
|
$
3,189
|
|
$
984
|
|
Non-cash Investing and Financing Activities:
|
|
|
|
|
Shares issued for settlement of debt
|
1,412
|
|
-
|
|
Write off deferred merger costs
|
1,226
|
|
-
|
|
Warrants issued in conjunction with convertible promissory
notes
|
3,633
|
|
570
|
|
Conversion of convertible notes payable to common stock
|
-
|
|
18,577
|
|
Capitalize default interest into senior secured debt
|
3,850
|
|
-
|
|
Conversion of asset-based secured promissory notes to
convertible promissory notes
|
4,584
|
|
-
|
|
Embedded conversion feature on convertible promissory notes
payable
|
-
|
|
(520)
|
|
Common shares issued for advisory shares
|
-
|
|
302
|
SANUWAVE Health (QB) (USOTC:SNWV)
Historical Stock Chart
From Oct 2024 to Nov 2024
SANUWAVE Health (QB) (USOTC:SNWV)
Historical Stock Chart
From Nov 2023 to Nov 2024
