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SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2023
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 13 – SUBSEQUENT EVENTS

 

The Company has evaluated subsequent events through the date these consolidated financial statements were issued and has identified the following:

 

Stock Issued for Service

 

In July and August 2023, the Company issued 112,500 shares of common stock related to vested RSUs and RSAs.

 

ATM Sales Agreement

 

In July 2023, the Company sold 88,021 shares of common stock under the ATM Sales Agreement and net proceeds received were $410 thousand.

 

Stock Issued for Legal Settlement

 

On July 10, 2023, the Company issued 100,000 shares of common stock related to the settlement of the Harborside Advisors LLC v. LifeMD, Inc., Case No. 21-cv-10593, and the Specialty Medical Drugstore, LLC D/B/A GoGoMeds v. LifeMD, Inc., Case No. 21-cv-10599.

 

Series B Preferred Stock Conversion

 

On July 12, 2023, the holder of the Company’s Series B Preferred Stock elected to convert 2,275 shares of the Company’s Series B Preferred Stock. The conversion resulted in 1,010,170 shares of the Company’s common stock issued to the holder of the Company’s Series B Preferred Stock.

 

Stock Issued for Noncontingent Consideration Payment

 

On July 17, 2023, the Company issued 158,129 shares of common stock related to the third of five quarterly installment payments due to the sellers of Cleared under the First Amendment.