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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2022
Dec. 31, 2021
Current Assets    
Cash $ 5,836,823 $ 41,328,039
Accounts receivable, net 2,538,118 980,055
Product deposit 108,051 203,556
Inventory, net 3,676,131 1,616,600
Other current assets 814,576 793,190
Total Current Assets 12,973,699 44,921,440
Non-current Assets    
Equipment, net 533,561 233,805
Right of use asset, net 1,289,250 1,752,448
Capitalized software, net 7,991,836 2,995,789
Goodwill 5,654,665
Intangible assets, net 4,918,550 19,761
Total Non-current Assets 20,387,862 5,001,803
Total Assets 33,361,561 49,923,243
Current Liabilities    
Accounts payable 10,797,544 9,059,214
Accrued expenses 11,082,354 11,595,605
Notes payable, net 63,400
Current operating lease liabilities 702,237 607,490
Deferred revenue 2,353,152 1,499,880
Total Current Liabilities 24,935,287 22,825,589
Long-term Liabilities    
Noncurrent operating lease liabilities 705,702 1,178,544
Contingent consideration 3,120,250 100,000
Purchase price payable 1,517,381
Total Liabilities 30,278,620 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 $1,272 and $1,175 per share as of September 30, 2022 and December 31, 2021, respectively 4,451,137 4,110,822
Stockholders’ (Deficit) Equity    
Series A Preferred Stock, $0.0001 par value; 1,610,000 shares authorized, 1,400,000 shares issued and outstanding, liquidation value approximately, $27.27 and $25.62 per share as of September 30, 2022 and December 31, 2021, respectively 140 140
Common stock, $0.01 par value; 100,000,000 shares authorized, 31,457,775 and 30,704,434 shares issued, 31,354,735 and 30,601,394 outstanding as of September 30, 2022 and December 31, 2021, respectively 314,578 307,045
Additional paid-in capital 177,131,586 164,517,634
Accumulated deficit (177,851,083) (141,921,085)
Treasury stock, 103,040 and 103,040 shares, at cost (163,701) (163,701)
Total LifeMD, Inc. Stockholders’ (Deficit) Equity (568,480) 22,740,033
Non-controlling interest (799,716) (1,031,745)
Total Stockholders’ (Deficit) Equity (1,368,196) 21,708,288
Total Liabilities, Mezzanine Equity and Stockholders’ (Deficit) Equity $ 33,361,561 $ 49,923,243