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Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current Assets    
Cash $ 9,179,075 $ 1,106,624
Accounts receivable, net 648,421 97,448
Product deposit 816,765 150,000
Inventory, net 1,264,258 950,059
Other current assets 154,876 442,971
Total Current Assets 12,063,395 2,747,102
Non-current assets    
Right of use asset, net 274,437 23,625
Capitalized software, net 375,983
Intangible assets, net 339,840 675,452
Total non-current assets 990,260 699,077
Total Assets 13,053,655 3,446,179
Current Liabilities    
Accounts payable and accrued expenses 11,794,084 3,051,156
Notes payable, net 779,132 814,734
Deferred revenue 916,880 109,552
Total Current Liabilities 13,490,096 3,975,442
Long-term Liabilities    
Lease Liability 285,323 29,978
Contingent consideration on purchase of LegalSimpli 100,000 500,000
Deferred tax liability 70,000
Total Liabilities 13,875,419 4,575,420
Commitments and contingencies (Note 7)
Mezzanine Equity    
Preferred Stock, $0.0001 per value; 4,996,500 and 5,000,000 shares authorized Series B Preferred Stock, $0.0001 per value; 5,000 and 0 shares authorized, 3,500 and 0 shares issued and outstanding as of December 31, 2020 and 2019, respectively; liquidation value approximately, $1,045 and $0 per share at December 31, 2020 and 2019, respectively 3,655,822
Stockholders' Deficit    
Common stock, $0.01 par value; 100,000,000 shares authorized, 23,433,663 and 10,680,730 shares issued, 23,330,623 and 10,577,690 outstanding as of December 31, 2020 and 2019, respectively 234,337 106,807
Additional paid-in capital 77,779,370 15,663,626
Accumulated deficit (80,151,905) (16,594,917)
Equity (2,138,198) (824,484)
Treasury stock, 103,040 and 103,040 shares, at cost (163,701) (163,701)
Total LifeMD, Inc. Stockholders' Deficit (2,301,899) (988,185)
Non-controlling interest (2,175,687) (141,056)
Total Stockholders' Deficit (4,477,586) (1,129,241)
Total Liabilities and Stockholders' Deficit $ 13,053,655 $ 3,446,179