10-Q Filing

LifeMD, Inc. CIK: 948320 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001213900-14-003384`
Period End Date	20140331
Filing Date	20140515
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	immd-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 45 Income Statement 30 Cash Flow Statement 31 Stockholders Equity 7

Balance Sheet 45 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$155.06K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$98.93K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$38.92K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$36.41K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.20M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	-	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	30.20M	shares	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$77.47K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	-	shares	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$116.58K	USD	Point-in-time
Legal settlement proceeds receivable	`LegalSettlementProceedsReceivable`	$132.00K	USD	Point-in-time
Legal settlement proceeds receivable	`LegalSettlementProceedsReceivable`	-	USD	Point-in-time
Inventory, net	`InventoryNet`	$86.19K	USD	Point-in-time
Inventory, net	`InventoryNet`	$88.06K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$241.06K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$450.73K	USD	Point-in-time
Furnishings and equipment, net	`PropertyPlantAndEquipmentNet`	$86.48K	USD	Point-in-time
Furnishings and equipment, net	`PropertyPlantAndEquipmentNet`	$100.72K	USD	Point-in-time
Total Assets	`Assets`	$551.45K	USD	Point-in-time
Total Assets	`Assets`	$327.53K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$185.36K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$190.69K	USD	Point-in-time
Deposit payable	`DepositPayable`	$100.00K	USD	Point-in-time
Notes payable to officers	`NotesPayable`	$40.20K	USD	Point-in-time
Notes payable to officers	`NotesPayable`	$28.20K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$218.89K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$325.56K	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$30.40K	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$26.10K	USD	Point-in-time
Total Liabilities	`Liabilities`	$244.99K	USD	Point-in-time
Total Liabilities	`Liabilities`	$355.96K	USD	Point-in-time
Common stock, $0.01 par value; 50,000,000 shares authorized, 30,204,973 shares issued and outstanding at March 31, 2014	`CommonStockValue`	$302.05K	USD	Point-in-time
Common stock, $0.01 par value; 50,000,000 shares authorized, 30,204,973 shares issued and outstanding at March 31, 2014	`CommonStockValue`	$301.05K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$7.99M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$7.96M	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-8.20M	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-8.06M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$82.55K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$195.49K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$551.45K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$327.53K	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Sales	`Revenues`	$230.26K	USD	1 Quarter
Sales	`Revenues`	$192.43K	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$52.90K	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$49.09K	USD	1 Quarter
Gross Profit	`GrossProfit`	$177.36K	USD	1 Quarter
Gross Profit	`GrossProfit`	$143.34K	USD	1 Quarter
Compensation and related expenses	`CompensationAndRelatedExpenses`	$119.89K	USD	1 Quarter
Compensation and related expenses	`CompensationAndRelatedExpenses`	$164.02K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$54.59K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$46.74K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$102.36K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$81.51K	USD	1 Quarter
Operating (Loss)	`OperatingIncomeLoss`	$-177.64K	USD	1 Quarter
Operating (Loss)	`OperatingIncomeLoss`	$-70.79K	USD	1 Quarter
License Fee	`LicenseCosts`	$-25.00K	USD	1 Quarter
License Fee	`LicenseCosts`	$-25.00K	USD	1 Quarter
Other income	`OtherIncome`	-	USD	1 Quarter
Other income	`OtherIncome`	$7.88K	USD	1 Quarter
Interest (expense)	`InterestExpense`	$478.00	USD	1 Quarter
Interest (expense)	`InterestExpense`	-	USD	1 Quarter
Net (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-45.79K	USD	1 Quarter
Net (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-145.24K	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-4.30K	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-4.30K	USD	1 Quarter
Net (Loss)	`NetIncomeLoss`	$-140.94K	USD	1 Quarter
Net (Loss)	`NetIncomeLoss`	$-41.49K	USD	1 Quarter
Basic and diluted (loss) per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted (loss) per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	30.17M	shares	1 Quarter
Average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	28.91M	shares	1 Quarter

Cash Flow Statement 31 line items

Line Item	Tag	Value	Unit	Period
Net (Loss)	`NetIncomeLoss`	$-140.94K	USD	1 Quarter
Net (Loss)	`NetIncomeLoss`	$-41.49K	USD	1 Quarter
Depreciation	`Depreciation`	$14.24K	USD	1 Quarter
Depreciation	`Depreciation`	$14.24K	USD	1 Quarter
Deferred tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-4.30K	USD	1 Quarter
Deferred tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-4.30K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$28.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$27.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$39.11K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$64.15K	USD	1 Quarter
Legal settlement proceeds receivable	`IncreaseDecreaseInLegalSettlement`	-	USD	1 Quarter
Legal settlement proceeds receivable	`IncreaseDecreaseInLegalSettlement`	$-132.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$1.87K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$5.40K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$14.08K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$5.32K	USD	1 Quarter
Net cash (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-60.01K	USD	1 Quarter
Net cash (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.65K	USD	1 Quarter
Investment in Adiuvo Investment S. A.	`PaymentsToAcquireInterestInJointVenture`	-	USD	1 Quarter
Investment in Adiuvo Investment S. A.	`PaymentsToAcquireInterestInJointVenture`	$100.00K	USD	1 Quarter
Repayment of note payable	`RepaymentsOfNotesPayable`	$12.00K	USD	1 Quarter
Net (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-118.65K	USD	1 Quarter
Net (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-60.01K	USD	1 Quarter
Cash at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$155.06K	USD	Point-in-time
Cash at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$98.93K	USD	Point-in-time
Cash at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$38.92K	USD	Point-in-time
Cash at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$36.41K	USD	Point-in-time
Cash at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$155.06K	USD	Point-in-time
Cash at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$98.93K	USD	Point-in-time
Cash at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$38.92K	USD	Point-in-time
Cash at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$36.41K	USD	Point-in-time

Stockholders Equity 7 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$82.55K	USD	Point-in-time
Balance	`StockholdersEquity`	$195.49K	USD	Point-in-time
Issuance of common stock for services	`StockIssuedDuringPeriodValueIssuedForServices`	$28.00K	USD	1 Quarter
Net (Loss)	`NetIncomeLoss`	$-140.94K	USD	1 Quarter
Net (Loss)	`NetIncomeLoss`	$-41.49K	USD	1 Quarter
Balance	`StockholdersEquity`	$82.55K	USD	Point-in-time
Balance	`StockholdersEquity`	$195.49K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.