XML 12 R2.htm IDEA: XBRL DOCUMENT v3.22.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2022
Dec. 31, 2021
Current Assets    
Cash $ 11,717,302 $ 41,328,039
Accounts receivable, net 2,513,627 980,055
Product deposit 440,841 203,556
Inventory, net 2,965,242 1,616,600
Other current assets 873,205 793,190
Total Current Assets 18,510,217 44,921,440
Non-current assets    
Equipment, net 555,777 233,805
Right of use asset, net 1,462,086 1,752,448
Capitalized software, net 6,542,691 2,995,789
Goodwill and intangible assets, net 10,898,710 19,761
Total Non-current Assets 19,459,264 5,001,803
Total Assets 37,969,481 49,923,243
Current Liabilities    
Accounts payable 11,938,937 9,059,214
Accrued expenses 11,233,309 11,595,605
Notes payable, net 63,400
Current operating lease liabilities 704,283 607,490
Deferred revenue 1,992,502 1,499,880
Total Current Liabilities 25,869,031 22,825,589
Long-term Liabilities    
Noncurrent operating lease liabilities 871,300 1,178,544
Contingent consideration 2,934,750 100,000
Purchase price payable 1,480,008
Total Liabilities 31,155,089 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 $1,239 and $1,175 per share as of June 30, 2022 and December 31, 2021, respectively 4,336,452 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, $26.72 and $25.62 per share as of June 30, 2022 and December 31, 2021, respectively 140 140
Common stock, $0.01 par value; 100,000,000 shares authorized, 30,989,869 and 30,704,434 shares issued, 30,886,829 and 30,601,394 outstanding as of June 30, 2022 and December 31, 2021, respectively 309,899 307,045
Additional paid-in capital 173,157,467 164,517,634
Accumulated deficit (169,792,847) (141,921,085)
Treasury stock, 103,040 and 103,040 shares, at cost (163,701) (163,701)
Total LifeMD, Inc. Stockholders’ Equity 3,510,958 22,740,033
Non-controlling interest (1,033,018) (1,031,745)
Total Stockholders’ Equity 2,477,940 21,708,288
Total Liabilities, Mezzanine Equity and Stockholders’ Equity $ 37,969,481 $ 49,923,243