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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2024
Dec. 31, 2023
Current Assets    
Cash $ 35,110,929 $ 33,146,725
Accounts receivable, net 5,336,491 5,277,250
Product deposit 288,938 485,850
Inventory, net 2,373,640 2,759,932
Other current assets 1,298,737 934,510
Total Current Assets 44,408,735 42,604,267
Non-current Assets    
Equipment, net 585,980 476,303
Right of use assets 1,674,014 594,897
Capitalized software, net 12,023,248 11,795,979
Intangible assets, net 2,763,297 3,009,263
Total Non-current Assets 17,046,539 15,876,442
Total Assets 61,455,274 58,480,709
Current Liabilities    
Accounts payable 12,395,032 11,084,855
Accrued expenses 14,555,480 13,937,494
Notes payable, net 115,907 327,597
Current operating lease liabilities 447,559 603,180
Current portion of long-term debt 3,958,333
Deferred revenue 13,202,757 8,828,598
Total Current Liabilities 44,675,068 34,781,724
Long-term Liabilities    
Long-term debt, net 14,069,838 17,927,727
Noncurrent operating lease liabilities 1,311,452 73,849
Contingent consideration 100,000 131,250
Total Liabilities 60,156,358 52,914,550
Commitments and contingencies (Note 10)
Mezzanine Equity    
Preferred Stock, $0.0001 par value; 5,000,000 shares authorized Series B Convertible Preferred Stock, $0.0001 par value; 5,000 shares authorized, zero shares issued and outstanding, liquidation value, $0 per share as of March 31, 2024 and December 31, 2023
Stockholders’ Equity (Deficit)    
Series A Preferred Stock, $0.0001 par value; 1,610,000 shares authorized, 1,400,000 shares issued and outstanding, liquidation value approximately, $25.55 per share as of March 31, 2024 and December 31, 2023 140 140
Common Stock, $0.01 par value; 100,000,000 shares authorized, 40,731,676 and 38,358,641 shares issued, 40,628,636 and 38,255,601 outstanding as of March 31, 2024 and December 31, 2023, respectively 407,317 383,586
Additional paid-in capital 220,721,095 217,550,583
Accumulated deficit (221,810,154) (214,265,236)
Treasury stock, 103,040, at cost, as of March 31, 2024 and December 31, 2023 (163,701) (163,701)
Total LifeMD, Inc. Stockholders’ (Deficit) Equity (845,303) 3,505,372
Non-controlling interest 2,144,219 2,060,787
Total Stockholders’ Equity 1,298,916 5,566,159
Total Liabilities, Mezzanine Equity and Stockholders’ Equity (Deficit) $ 61,455,274 $ 58,480,709