XML 27 R16.htm IDEA: XBRL DOCUMENT
v3.21.1

Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2021
Accounting Policies [Abstract] |
Schedule of Disaggregated Revenue | For the three months ended March 31, 2021 and 2020, the Company had the following disaggregated revenue:
|  | Three Months Ended March 31, |
|  | 2021 |  |  | % |  |  | 2020 |  |  | % |
Product revenues by Brand for Conversion Labs PR: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Shapiro MD |  | $ | 3,383,783 |  |  |  | 19 | % |  | $ | 2,337,108 |  |  |  | 54 | %
Rex MD |  |  | 9,840,553 |  |  |  | 54 | % |  |  | 492,773 |  |  |  | 11 | %
iNR Wellness |  |  | 23,905 |  |  |  | - | % |  |  | 69,928 |  |  |  | 2 | %
Purpurex |  |  | 35,074 |  |  |  | - | % |  |  | 53,522 |  |  |  | 1 | %
Scarology |  |  | - |  |  |  | - | % |  |  | 2,470 |  |  |  | - | %
Total product revenue for Conversion Labs PR |  | $ | 13,283,315 |  |  |  | 73 | % |  | $ | 2,955,801 |  |  |  | 69 | %
Software revenue for LegalSimpli |  |  | 4,914,797 |  |  |  | 27 | % |  |  | 1,349,011 |  |  |  | 31 | %
Total net revenue |  | $ | 18,198,112 |  |  |  | 100 | % |  | $ | 4,304,812 |  |  |  | 100 | %
Summary of Inventory | As of March 31, 2021 and December 31, 2020, the Company’s inventory consisted of the following:
|  | March 31, |  |  | December 31, |
|  | 2021 |  |  | 2020 |
Finished Goods - Products |  | $ | 1,616,268 |  |  |  | 1,172,624 |
Raw materials and packaging components |  |  | 115,594 |  |  |  | 149,115 |
Inventory reserve |  |  | (57,481 | ) |  |  | (57,481 | )
Total Inventory - net |  | $ | 1,674,381 |  |  | $ | 1,264,258 |
Schedule of Potentially Dilutive Securities | The following table summarizes the number of shares of common stock issuable pursuant to our convertible securities that were excluded from the diluted per share calculation because the effect of including these potential shares was antidilutive even though the exercise price could be less than the average market price of the common shares:
|  | Three Months Ended |  |  | Three Months Ended |
|  | March 31, |  |  | March 31, |
|  | 2021 |  |  | 2020 |
Series B Preferred Stock |  |  | 1,076,923 |  |  |  | - |
Restricted Stock Units (RSUs) |  |  | 47,500 |  |  |  | - |
Stock options |  |  | 4,395,000 |  |  |  | 3,869,000 |
Warrants |  |  | 3,550,471 |  |  |  | 2,926,636 |
Potentially dilutive securities |  |  | 9,069,894 |  |  |  | 6,795,636 |

X
- References No definition available. + Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(c)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(b)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(a)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766 + Details
Name: | us-gaap_ScheduleOfInventoryCurrentTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration