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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

SCHEDULE OF DISAGGREGATED REVENUE

For the three and six months ended June 30, 2021 and 2020, the Company had the following disaggregated revenue:

 SCHEDULE OF DISAGGREGATED REVENUE

		Three Months Ended June 30,																Six Months Ended June 30,
		2021				%				2020				%				2021				%				2020				%
Product revenues by Brand for Conversion Labs PR:
Rex MD		$	12,128,524				54	%		$	1,835,503				20	%		$	21,969,077				55	%		$	2,328,276				18	%
Shapiro MD			3,515,631				16	%			5,881,965				65	%			6,899,414				17	%			8,219,073				61	%
Nava MD			108,252				1	%			-				-	%			108,252				-	%			-				-	%
iNR Wellness			19,737				-	%			71,162				1	%			43,642				-	%			141,090				1	%
Purpurex			27,466				-	%			79,426				1	%			62,540				-	%			132,948				1	%
Scarology			-				-	%			1,757				-	%			-				-	%			4,227				-	%
Total product revenue for Conversion Labs PR		$	15,799,610				71	%		$	7,869,813				87	%		$	29,082,925				72	%		$	10,825,614				81	%
Software revenue for LegalSimpli			6,514,001				29	%			1,219,970				13	%			11,428,798				28	%			2,568,981				19	%
Total net revenue		$	22,313,611				100	%		$	9,089,783				100	%		$	40,511,723				100	%		$	13,394,595				100	%

SCHEDULE OF CONTRACT WITH CUSTOMER LIABILITY

The Company records deferred revenues when cash payments are received or due in advance of its performance. The Company’s deferred revenues relate to payments received for the in-process monthly or yearly contracts with customers and a portion attributable to the yet to be recognized initial 14-day trial period collections.

SCHEDULE OF CONTRACT WITH CUSTOMER LIABILITY 

		2021				2020				2021				2020
		Three Months Ended June 30,								Six Months Ended June 30,
		2021				2020				2021				2020
Beginning of period		$	1,339,309			$	302,960			$	916,880			$	109,552
Additions			6,183,965				1,127,862				11,210,719				2,484,256
Revenue recognized			6,141,336				1,127,152				10,745,661				2,290,138
End of period		$	1,381,938			$	303,670			$	1,381,938			$	303,670

SUMMARY OF INVENTORY

As of June 30, 2021 and December 31, 2020, the Company’s inventory consisted of the following:

 SUMMARY OF INVENTORY

		June 30,				December 31,
		2021				2020
Finished Goods - Products		$	1,526,491				1,172,624
Raw materials and packaging components			87,626				149,115
Inventory reserve			-				(57,481	)
Total Inventory - net		$	1,614,117			$	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:

 SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES

		Three Months Ended				Three Months Ended				Six Months Ended				Six Months Ended
		June 30, 2021				June 30, 2020				June 30, 2021				June 30, 2020
Series B Preferred Stock			1,076,923				-				1,076,923				-
Restricted Stock Units (RSUs)			664,375				-				355,938				-
Stock options			4,013,400				4,469,000				4,204,200				4,169,000
Warrants			3,984,787				1,407,636				3,767,629				2,167,136
Potentially dilutive securities			9,739,485				5,876,636				9,404,690				6,336,136

X

- Definition

Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

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