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ReShape LifeSciences Inc. (RSLS)

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Last Post: 1/17/2019 2:29:28 PM - Followers: 61 - Board type: Free - Posts Today: 0

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: Current Report Filing (8-k) 12/28/2018 08:02:29 AM
RSLS News: Amended Current Report Filing (8-k/a) 12/21/2018 05:00:19 PM
RSLS News: Current Report Filing (8-k) 12/19/2018 08:02:16 AM
RSLS News: Apollo Endosurgery, Inc. Announces the Sale of Its Surgical Product Line 12/18/2018 08:00:00 AM
RSLS News: Statement of Ownership (sc 13g) 12/06/2018 06:09:17 AM
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PostSubject
#2455   Long due for a crash Attila1905 01/17/19 02:29:28 PM
#2454   Down 20% . what a shocker! Biggest turd Attila1905 01/15/19 03:41:00 PM
#2453   The problem with this company is that they Bryce Harper 01/07/19 05:22:37 PM
#2452   Thanks. But I read somewhere that in addition keekee 01/07/19 04:18:02 PM
#2451   My memory is now telling me 8 million Bryce Harper 01/07/19 03:04:54 PM
#2450   With their big shelf, they can do ATMs Bryce Harper 01/07/19 01:02:23 PM
#2449   I bought some RSLS on Friday. Watching to keekee 01/07/19 10:15:00 AM
#2448   Not necessarily. I hold a couple of stocks keekee 01/03/19 02:48:18 PM
#2447   it went OTC for a reason. you'll lose Attila1905 01/03/19 02:44:06 PM
#2446   Very tempting to buy here based on that keekee 01/03/19 02:42:16 PM
#2445   they destroyed many lives. probably the biggest scam Attila1905 12/28/18 10:25:53 PM
#2444   RSLS delisted from the Nasdaq to the OTC: Renee 12/28/18 06:31:00 PM
#2443   This is the biggest turd on nasdaq. Oops Attila1905 12/28/18 09:53:25 AM
#2442   Running to hell Attila1905 12/28/18 09:52:19 AM
#2441   Spin off coming at $RNVA ready to run 200x. George1234 12/28/18 07:10:23 AM
#2440   Next year we fly. bigarow 12/27/18 08:43:35 AM
#2439   LOL! That's the 64000 dollar question now isn't seaybiscuit 12/21/18 10:36:36 AM
#2438   How soon will the price go up. bigarow 12/21/18 10:25:07 AM
#2437   How soon what? seaybiscuit 12/21/18 10:17:45 AM
#2436   How Soon? bigarow 12/21/18 09:01:06 AM
#2435   Nothing here but CRICKETS! seaybiscuit 12/20/18 02:08:41 PM
#2434   What a joke! Never make a shit mistake seaybiscuit 12/18/18 03:20:33 PM
#2433   I guess we are paying for that company seaybiscuit 12/18/18 11:58:00 AM
#2432   Yeah Man! I'm there! seaybiscuit 12/18/18 11:49:27 AM
#2431   FREE FLYNN bigarow 12/18/18 11:46:18 AM
#2430   Just selling on news.It will go up again.GO bigarow 12/18/18 11:45:45 AM
#2429   I disagree! seaybiscuit 12/18/18 11:38:10 AM
#2428   No, not really! It looks like it's going down! seaybiscuit 12/18/18 11:37:09 AM
#2427   Every time it goes up it gets knocked seaybiscuit 12/18/18 11:34:36 AM
#2426   It was just teasing! seaybiscuit 12/18/18 11:32:18 AM
#2425   .40,s after-hours. I know More 12/11/18 04:10:25 PM
#2424   What a disaster...Lawsuits and dilution...nothing else here I know More 12/11/18 03:56:35 PM
#2423   You mean after the reverse split a s stockmoneybaby 12/06/18 11:35:46 AM
#2422   7 straight days if accumulation.... This is going I know More 12/03/18 04:07:45 PM
#2421   RSLS UP to .93 premarket. bigarow 12/03/18 08:19:05 AM
#2420   Until big boys take care of shorts this I know More 12/02/18 10:27:31 PM
#2419   RSLS sure trades funny..87 now big buys coming bigarow 11/30/18 03:38:16 PM
#2418   Huge buyers on the bid.Looks like we're going up. bigarow 11/30/18 10:05:33 AM
#2417   Premarket it may have TeddyCaswell 11/29/18 09:01:41 PM
#2416   RSLS good call./But rsls never reached a dollar wed. bigarow 11/29/18 07:03:13 PM
#2415   Yep, got out at $1 pre market Wed. Mindsplit 11/29/18 03:30:41 PM
#2414   RSLS price all over the place.Once it settles bigarow 11/29/18 09:13:46 AM
#2413   I don’t think it breaks a $1 tomorrow Oger 11/28/18 11:34:50 PM
#2412   RSLS Lot's of buying tonight. They don't want bigarow 11/28/18 07:55:19 PM
#2411   This should have blown past $1.00 by now Oger 11/28/18 07:25:50 PM
#2410   RSLS there's .94 might go past a buck tonight. bigarow 11/28/18 06:20:23 PM
#2409   RSLS .93 now AH.Tons of volume.The smart ones bigarow 11/28/18 06:18:44 PM
#2408   They need to turn up the Volume on seaybiscuit 11/28/18 02:29:58 PM
#2407   Lol market shorts are killing this... I know More 11/28/18 11:42:47 AM
#2406   But, they cannot option them for 90 days. Oger 11/27/18 06:25:08 PM
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