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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2022
Dec. 31, 2021
Current Assets    
Cash $ 25,084,644 $ 41,328,039
Accounts receivable, net 1,796,502 980,055
Product deposit 615,293 203,556
Inventory, net 1,240,034 1,616,600
Other current assets 842,989 793,190
Total Current Assets 29,579,462 44,921,440
Non-current assets    
Equipment, net 506,367 233,805
Right of use asset, net 1,633,924 1,752,448
Capitalized software, net 4,710,120 2,995,789
Goodwill and intangible assets, net 13,860,603 19,761
Total Non-current Assets 20,711,014 5,001,803
Total Assets 50,290,476 49,923,243
Current Liabilities    
Accounts payable 11,676,030 9,059,214
Accrued expenses 11,550,232 11,595,605
Notes payable, net 63,400 63,400
Current operating lease liabilities 534,451 607,490
Deferred revenue 1,788,555 1,499,880
Total Current Liabilities 25,612,668 22,825,589
Long-term Liabilities    
Noncurrent operating lease liabilities 1,206,082 1,178,544
Contingent consideration 5,701,000 100,000
Purchase price payable 1,415,655
Total Liabilities 33,935,405 24,104,133
 Commitments and Contingencies (Note 9)  
Mezzanine Equity    
Preferred Stock, $0.0001 par value; 5,000,000 shares authorized Series B Preferred Stock, $0.0001 par value; 5,000 shares authorized, 3,500 and 3,500 shares issued and outstanding, liquidation value approximately, $1,207 and $1,175 per share as of March 31, 2022 and December 31, 2021, respectively 4,223,014 4,110,822
Stockholders’ Equity    
Series A Preferred Stock, $0.0001 par value; 1,610,000 shares authorized, 1,400,000 shares issued and outstanding, liquidation value approximately, $26.17 and $25.62 per share as of March 31, 2022 and December 31, 2021, respectively 140 140
Common stock, $0.01 par value; 100,000,000 shares authorized, 30,899,469 and 30,704,434 shares issued, 30,796,429 and 30,601,394 outstanding as of March 31, 2022 and December 31, 2021, respectively 308,995 307,045
Additional paid-in capital 169,026,965 164,517,634
Accumulated deficit (155,997,323) (141,921,085)
Treasury stock, 103,040 and 103,040 shares, at cost (163,701) (163,701)
Total LifeMD, Inc. Stockholders’ Equity 13,175,076 22,740,033
Non-controlling interest (1,043,019) (1,031,745)
Total Stockholders’ Equity 12,132,057 21,708,288
Total Liabilities, Mezzanine Equity and Stockholders’ Equity $ 50,290,476 $ 49,923,243