XML 13 R2.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2020
Dec. 31, 2019
Current Assets    
Cash $ 916,637 $ 1,106,624
Accounts receivable, net 414,342 97,448
Product deposit 1,093,388 150,000
Inventory, net 1,858,545 950,059
Other current assets 370,078 442,971
Total Current Assets 4,652,990 2,747,102
Non-current assets    
Right of use asset, net 18,173 23,625
Capitalized Software, net 334,585
Intangible assets, net 423,743 675,452
Total non-current assets 776,501 699,077
Total Assets 5,429,491 3,446,179
Current Liabilities    
Accounts payable and accrued expenses 7,269,145 3,051,156
Notes payable, net 1,754,143 814,734
Contract liabilities 412,616 109,552
Total Current Liabilities 9,435,904 3,975,442
Long-term Liabilities    
Lease Liability 28,241 29,978
Contingent consideration on purchase of LegalSimpli 100,000 500,000
Liability to issue common stock 218,848
Series B Preferred Stock - put liability 3,541,137
Deferred tax liability 70,000 70,000
Total Liabilities 13,394,130 4,575,420
Commitments and contingencies (Note 7)
Stockholders' Deficit    
Common stock, $0.01 par value; 100,000,000 shares authorized, 15,634,962 and 10,680,730 shares issued, 15,531,922 and 10,577,690 outstanding as of September 30, 2020 and December 31, 2019, respectively 156,349 106,807
Additional paid-in capital 40,614,348 15,663,626
Accumulated deficit (47,901,176) (16,594,917)
Equity (7,130,479) (824,484)
Treasury stock, 103,040 and 103,040 shares, at cost (163,701) (163,701)
Total Conversion Labs, Inc. Stockholders' Deficit (7,294,180) (988,185)
Non-controlling interest (670,459) (141,056)
Total Stockholders' Deficit (7,964,639) (1,129,241)
Total Liabilities and Stockholders' Deficit 5,429,491 3,446,179
Series B Preferred Stock [Member]    
Stockholders' Deficit    
Preferred Stock, $0.0001 per value; 4,996,500 and 5,000,000 shares authorized