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ReShape Life Sciences (RSLS)

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Last Post: 9/19/2018 4:41:43 PM - Followers: 62 - Board type: Free - Posts Today: 73

ReShape Lifesciences™ 

https://www.reshapelifesciences.com/

ReShape Lifesciences™ is a medical device company focused on technologies to treat obesity and metabolic diseases. The FDA-approved ReShape Balloon™ System involves a non-surgical weight loss procedure that uses advanced balloon technology designed to take up room in the stomach to help people with a 30-40 kg/m2 Body Mass Index (BMI) and at least one co-morbidity lose weight. ReShape vBloc™ Therapy, delivered by an FDA-approved pacemaker-like device called the ReShape vBloc System, is designed to help patients with a 40-45 kg/m2, or a 35-39.9 kg/m2 BMI and at least one co-morbidity feel full and eat less by intermittently blocking hunger signals on the vagus nerve. The ReShape Vest™ System is an investigational, minimally invasive, laparoscopically implanted medical device that wraps around the stomach, emulating the gastric volume reduction effect of conventional weight-loss surgery, and is intended to enable rapid weight loss in obese and morbidly obese patients without permanently changing patient anatomy.

ReShape Lifesciences was incorporated in Minnesota in December 2002 under the name Beta Medical, Inc. In 2003, the Company changed its name to EnteroMedics Inc. and in 2004 reincorporated in Delaware. EnteroMedics began trading on the NASDAQ Stock Market on November 15, 2007.   The Company acquired ReShape Medical, Inc. in October 2017 and subsequently changed its name to ReShape Lifesciences, Inc. 

Financials http://ir.reshapelifesciences.com/static-files/cefa86e6-3998-4cb2-b8d8-c5447d7383b5

PART I – FINANCIAL INFORMATION ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS RESHAPE LIFESCIENCES INC. Condensed Consolidated Balance Sheets (Unaudited) June 30, December 31, 2018 2017 ASSETS Current assets: Cash and cash equivalents $ 1,863,217 $ 10,163,208 Accounts receivable (net of allowance for bad debts of $228,165 and $155,872 at June 30, 2018 and December 31, 2017) 446,027 488,613 Inventory 2,101,017 2,817,112 Prepaid expenses and other current assets 919,543 467,783 Total current assets 5,329,804 13,936,716 Property and equipment, net 303,206 438,621 Goodwill — 27,186,620 Other intangible assets, net 44,802,230 46,152,577 Other assets 76,827 990,015 Total assets $ 50,512,067 $ 88,704,549 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $ 4,201,239 $ 1,088,271 Accrued expenses 4,499,875 5,955,518 Total current liabilities 8,701,114 7,043,789 Deferred income taxes 2,700,681 5,292,291 Common stock warrant liability 74 1,600 Total liabilities 11,401,869 12,337,680 Commitments and contingencies (Note 7) Stockholders’ equity: Preferred stock, 5,000,000 shares authorized: Series B convertible preferred stock, $0.01 par value; 20,000 shares issued and 2,957 and 6,055 shares outstanding at June 30, 2018 and December 31, 2017, respectively 30 61 Series C convertible preferred stock, $0.01 par value; 187,772 shares issued and 95,388 shares outstanding at June 30, 2018 and December 31, 2017 954 954 Series D convertible preferred stock, $0.01 par value; 6,000 shares issued and 4,750 and zero shares outstanding at June 30, 2018 and December 31, 2017 48 — Common stock, $0.01 par value; 275,000,000 shares authorized at June 30, 2018 and December 31, 2017; 3,610,009 and 2,063,808 shares issued and outstanding at June 30, 2018 and December 31, 2017 36,100 20,640 Additional paid-in capital 424,158,496 411,104,568 Accumulated deficit (385,085,430) (334,759,354) Total stockholders’ equity 39,110,198 76,366,869 Total liabilities and stockholders’ equity $ 50,512,067 $ 88,704,549 See accompanying notes to condensed consolidated financial statements.

RESHAPE LIFESCIENCES INC. Condensed Consolidated Statements of Operations (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Product sales $ 633,554 $ 93,060 $ 1,574,985 $ 133,100 Other revenue 19,815 — 28,382 — Total revenue 653,369 93,060 1,603,367 133,100 Cost of revenue 634,774 54,472 1,463,731 83,995 Gross profit 18,595 38,588 139,636 49,105 Operating expenses: Selling, general and administrative 6,710,518 5,560,787 16,756,075 11,489,773 Research and development 2,439,337 1,352,075 5,126,856 2,476,488 Goodwill impairment 27,186,620 — 27,186,620 — Total operating expenses 36,336,475 6,912,862 49,069,551 13,966,261 Operating loss (36,317,880) (6,874,274) (48,929,915) (13,917,156) Other income (expense): Interest income 263 — 674 100 Interest expense — — (2,735) — Change in value of warrant liability 369 34,395 1,494 (288,735) Other, net (142,145) (298) (144,416) (1,198) Loss before income taxes (36,459,393) (6,840,177) (49,074,898) (14,206,989) Income tax benefit 1,208,560 — 2,590,613 — Net loss $ (35,250,833) $ (6,840,177) $ (46,484,285) $ (14,206,989) Adjustment for convertible preferred stock and warrants (3,841,790) — (3,841,790) — Net loss attributable to common shareholders (39,092,623) (6,840,177) (50,326,075) (14,206,989) Net loss per share—basic and diluted $ (15.78) $ (13.68) $ (22.14) $ (32.13) Shares used to compute basic and diluted net loss per share 2,477,910 500,114 2,273,160 442,191






The Company trades on the NASDAQ under the ticker symbol RSLS.http://ir.reshapelifesciences.com/financial-information/sec-filings



As of August 10, 2018, 9,013,421 shares of the registrant’s Common Stock were outstanding.

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RSLS News: Prospectus Filed Pursuant to Rule 424(b)(5) (424b5) 04:08 PM
RSLS News: Prospectus Filed Pursuant to Rule 424(b)(5) (424b5) 09/17/2018 06:41:52 AM
RSLS News: Current Report Filing (8-k) 09/14/2018 04:45:34 PM
RSLS News: Current Report Filing (8-k) 09/11/2018 04:07:49 PM
RSLS News: Initial Statement of Beneficial Ownership (3) 08/29/2018 04:08:56 PM
News News Alert: Prospectus Filed Pursuant to Rule 424(b)(5) (424b5) 09/19/2018 04:08:56 PM
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#628  Sticky Note RSLS to DOLLARS, NO DEBT CC ~~~https://edge.me m1999 08/15/18 12:15:46 PM
#1313   ok closes at 8 we will see .... rouge Vaughn 09/19/18 04:41:43 PM
#1312   52 week high is $31.80 now at 0.04 stockmoneybaby 09/19/18 04:37:37 PM
#1311   Calling the action here that is all remember stockmoneybaby 09/19/18 04:35:58 PM
#1310   then we see the 150 for 4 cents rouge Vaughn 09/19/18 04:34:47 PM
#1309   cause i dont know anyone who would even rouge Vaughn 09/19/18 04:33:19 PM
#1308   hmm i dont know, it should be going rouge Vaughn 09/19/18 04:32:06 PM
#1307   Looks like offering price still .045, buyers will SC777 09/19/18 04:20:03 PM
#1306   news just came out rouge Vaughn 09/19/18 04:16:08 PM
#1305   Lol - go figure. Are you saying SC777 09/19/18 04:15:29 PM
#1304   I drove by the $RSLS office in San ShakeAndBake_ 09/19/18 04:13:42 PM
#1303   thats what im saying but im stocked up rouge Vaughn 09/19/18 04:11:07 PM
#1302   If anything it was the rest of the SC777 09/19/18 04:07:22 PM
#1301   im confused as to what one would make rouge Vaughn 09/19/18 04:05:20 PM
#1300   Back on down. This is deplorable stockmoneybaby 09/19/18 04:03:23 PM
#1299   dont know, but 9million trades in a day rouge Vaughn 09/19/18 03:26:55 PM
#1298   Whats the deal with all these 100 trades? mcjodie 09/19/18 02:46:06 PM
#1297   Problem is, 500K will be gone in 2 cooler_cat 09/19/18 02:41:27 PM
#1296   Crazy it dipped so low? stockmoneybaby 09/19/18 02:00:05 PM
#1295   If I was a preferred holder I would SC777 09/19/18 01:58:38 PM
#1294   Preferred must be running dry soon, this is crazy SC777 09/19/18 01:09:53 PM
#1293   crazy loading at .04 let's gooooo stockman69 09/19/18 01:06:21 PM
#1292   Offer closes.. Loading up !!!!!!!! George1234 09/19/18 01:06:13 PM
#1291   once they announce the offering is closed this stockman69 09/19/18 01:05:15 PM
#1290   its the cheapest its been and no one rouge Vaughn 09/19/18 01:02:57 PM
#1289   I am loading all I can :) stox777 09/19/18 01:01:40 PM
#1288   Someone saying thank you do the Preferred sellers SC777 09/19/18 01:01:05 PM
#1287   .04's getting absolutely loaded today wow stockman69 09/19/18 12:58:22 PM
#1286   Got taken out ! This SC777 09/19/18 12:57:35 PM
#1285   Very smart individual or fund soaking up all SC777 09/19/18 12:50:13 PM
#1284   monster bid at .04 damn stockman69 09/19/18 12:49:08 PM
#1283   This shows different.... stox777 09/19/18 12:33:06 PM
#1282   Whatever the case, the remaining shares that are SC777 09/19/18 12:23:48 PM
#1281   fingers crossed we've got a bottom here stockman69 09/19/18 12:20:01 PM
#1280   lol i wouldnt wanna be a short this rouge Vaughn 09/19/18 12:02:25 PM
#1279   lol i wouldnt wanna be a short this rouge Vaughn 09/19/18 12:02:25 PM
#1278   Naked shorts baby SC777 09/19/18 12:00:21 PM
#1277   Correct. These must be the last of SC777 09/19/18 11:58:37 AM
#1276   No short interest here. stockmoneybaby 09/19/18 11:57:12 AM
#1275   even with the new shares, mkt cap is stockman69 09/19/18 11:44:53 AM
#1274   .04's getting loaded up big, springboard ready to stockman69 09/19/18 11:43:43 AM
#1273   This market cap is insanity. SC777 09/19/18 11:40:46 AM
#1272   I think soon big buyers will buy this.Only martinecko 09/19/18 11:38:57 AM
#1271   added more at .04, too easy stockman69 09/19/18 11:36:36 AM
#1270   Or not SC777 09/19/18 11:31:04 AM
#1269   I think longs just put their foot down SC777 09/19/18 11:29:47 AM
#1268   Don't worry, soon will be epic run up. martinecko 09/19/18 11:27:35 AM
#1267   OFFER CLOSES TOMORROW. READY FOR A RUN ?? George1234 09/19/18 11:25:08 AM
#1266   robin hood traders and people forced to cover. rouge Vaughn 09/19/18 11:17:05 AM
#1265   I guess people think that a $2.5M market SC777 09/19/18 11:15:10 AM
#1264   fuck if I know stockman69 09/19/18 11:12:51 AM
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