Revenues for the quarter were $0.54 million. The company has not recorded any revenues for the previous year period. Gross margin for the quarter was at 65.56 percent.

Operating loss for the quarter was $4.06 million, compared with an operating loss of $6.27 million in the previous year period.

"It was a challenging quarter and a difficult decision to put our neuromodulation strategy on pause due solely to financial constraints," said John Erb, chairman and chief executive officer. "While we continue to believe in the long term potential of the neuromodulation opportunity, focusing all of our efforts on growing our Aquadex business will be critical to bolstering our financial strength and will allow Sunshine Heart to strengthen its presence in the heart failure market."

The company has spent $4.11 million cash to meet investing activities during the nine month period as against cash outgo of $0.18 million in the last year period.

The company has spent $4.64 million cash to carry out financing activities during the nine month period as against cash inflow of $15.06 million in the last year period.

Cash and cash equivalents stood at $0.79 million as on Sep. 30, 2016, down 97.16 percent or $27.11 million from $27.90 million on Sep. 30, 2015.

Working capital turns negative
Working capital of Sunshine Heart, Inc. has turned negative to $1.47 million on Sep. 30, 2016 from positive $22.61 million on Sep. 30, 2015. Current ratio was at 0.47 as on Sep. 30, 2016, down from 4.74 on Sep. 30, 2015.