10-Q Filing

LifeMD, Inc. CIK: 948320 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001213900-14-005801`
Period End Date	20140630
Filing Date	20140814
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	immd-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 53 Cash Flow Statement 42 Stockholders Equity 11

Balance Sheet 46 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`	$98.93K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.20M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	-	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$111.06K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$61.15K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$155.06K	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$85.27K	USD	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
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`	$83.52K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$450.73K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$229.93K	USD	Point-in-time
Furnishings and equipment, net	`PropertyPlantAndEquipmentNet`	$100.72K	USD	Point-in-time
Furnishings and equipment, net	`PropertyPlantAndEquipmentNet`	$72.23K	USD	Point-in-time
Total Assets	`Assets`	$551.45K	USD	Point-in-time
Total Assets	`Assets`	$302.17K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$242.62K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$185.36K	USD	Point-in-time
Deposit payable	`DepositPayable`	$100.00K	USD	Point-in-time
Deposit payable	`DepositPayable`	-	USD	Point-in-time
Notes payable to officers	`NotesPayable`	$23.20K	USD	Point-in-time
Notes payable to officers	`NotesPayable`	$40.20K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$265.82K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$325.56K	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$21.80K	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$30.40K	USD	Point-in-time
Total Liabilities	`Liabilities`	$287.62K	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 June 30, 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 June 30, 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`	$-8.28M	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-8.06M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$195.49K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$14.54K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$551.45K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$302.17K	USD	Point-in-time

Income Statement 53 line items

Line Item	Tag	Value	Unit	Period
Sales	`Revenues`	$553.16K	USD	2 Qtrs
Sales	`Revenues`	$322.90K	USD	1 Quarter
Sales	`Revenues`	$389.04K	USD	2 Qtrs
Sales	`Revenues`	$196.61K	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$69.16K	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$134.76K	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$118.25K	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$65.67K	USD	1 Quarter
Gross Profit	`GrossProfit`	$270.79K	USD	2 Qtrs
Gross Profit	`GrossProfit`	$127.45K	USD	1 Quarter
Gross Profit	`GrossProfit`	$257.24K	USD	1 Quarter
Gross Profit	`GrossProfit`	$418.40K	USD	2 Qtrs
Compensation and related expenses	`CompensationAndRelatedExpenses`	$277.99K	USD	2 Qtrs
Compensation and related expenses	`CompensationAndRelatedExpenses`	$157.84K	USD	1 Quarter
Compensation and related expenses	`CompensationAndRelatedExpenses`	$114.03K	USD	1 Quarter
Compensation and related expenses	`CompensationAndRelatedExpenses`	$278.06K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$84.03K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$37.29K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$26.00K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$80.60K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$147.32K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$82.27K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$62.79K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$165.16K	USD	2 Qtrs
Operating (Loss)	`OperatingIncomeLoss`	$-253.01K	USD	2 Qtrs
Operating (Loss)	`OperatingIncomeLoss`	$-20.15K	USD	1 Quarter
Operating (Loss)	`OperatingIncomeLoss`	$-75.38K	USD	1 Quarter
Operating (Loss)	`OperatingIncomeLoss`	$-90.94K	USD	2 Qtrs
License Fee	`LicenseCosts`	$-25.00K	USD	2 Qtrs
License Fee	`LicenseCosts`	$-25.00K	USD	2 Qtrs
Other income	`OtherIncome`	$7.88K	USD	2 Qtrs
Interest (expense)	`InterestExpense`	$428.00	USD	1 Quarter
Interest (expense)	`InterestExpense`	$906.00	USD	2 Qtrs
Net (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-221.04K	USD	2 Qtrs
Net (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-75.81K	USD	1 Quarter
Net (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-20.15K	USD	1 Quarter
Net (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-65.94K	USD	2 Qtrs
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-8.60K	USD	2 Qtrs
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-8.60K	USD	2 Qtrs
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-4.30K	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-4.30K	USD	1 Quarter
Net (Loss)	`NetIncomeLoss`	$-57.34K	USD	2 Qtrs
Net (Loss)	`NetIncomeLoss`	$-71.50K	USD	1 Quarter
Net (Loss)	`NetIncomeLoss`	$-15.85K	USD	1 Quarter
Net (Loss)	`NetIncomeLoss`	$-212.44K	USD	2 Qtrs
Basic and diluted (loss) per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted (loss) per share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	2 Qtrs
Basic and diluted (loss) per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted (loss) per share	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	29.08M	shares	2 Qtrs
Average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	29.24M	shares	1 Quarter
Average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	30.19M	shares	2 Qtrs
Average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	30.20M	shares	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net (Loss)	`NetIncomeLoss`	$-57.34K	USD	2 Qtrs
Net (Loss)	`NetIncomeLoss`	$-71.50K	USD	1 Quarter
Net (Loss)	`NetIncomeLoss`	$-15.85K	USD	1 Quarter
Net (Loss)	`NetIncomeLoss`	$-212.44K	USD	2 Qtrs
Depreciation	`Depreciation`	$28.49K	USD	2 Qtrs
Depreciation	`Depreciation`	$28.49K	USD	2 Qtrs
Deferred tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-8.60K	USD	2 Qtrs
Deferred tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-8.60K	USD	2 Qtrs
Deferred tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-4.30K	USD	1 Quarter
Deferred tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-4.30K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$3.50K	USD	2 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$52.50K	USD	2 Qtrs
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	-	USD	2 Qtrs
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$-28.00K	USD	2 Qtrs
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$107.82K	USD	2 Qtrs
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$7.79K	USD	2 Qtrs
Legal settlement proceeds receivable	`IncreaseDecreaseInLegalSettlement`	-	USD	2 Qtrs
Legal settlement proceeds receivable	`IncreaseDecreaseInLegalSettlement`	$-132.00K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-2.68K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$670.00	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$57.26K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$55.57K	USD	2 Qtrs
Net cash provided (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-37.87K	USD	2 Qtrs
Net cash provided (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$23.09K	USD	2 Qtrs
Investment in Adiuvo Investment S. A.	`PaymentsToAcquireInterestInJointVenture`	$100.00K	USD	2 Qtrs
Investment in Adiuvo Investment S. A.	`PaymentsToAcquireInterestInJointVenture`	-	USD	2 Qtrs
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$-50.00K	USD	2 Qtrs
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	2 Qtrs
Repayment of note payable	`RepaymentsOfNotesPayable`	$17.00K	USD	2 Qtrs
Repayment of note payable	`RepaymentsOfNotesPayable`	-	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-17.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$50.00K	USD	2 Qtrs
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$12.13K	USD	2 Qtrs
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-93.91K	USD	2 Qtrs
Cash at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$98.93K	USD	Point-in-time
Cash at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$111.06K	USD	Point-in-time
Cash at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$61.15K	USD	Point-in-time
Cash at beginning 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`	$111.06K	USD	Point-in-time
Cash at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$61.15K	USD	Point-in-time
Cash at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$155.06K	USD	Point-in-time

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$195.49K	USD	Point-in-time
Balance	`StockholdersEquity`	$14.54K	USD	Point-in-time
Issuance of common stock for services	`StockIssuedDuringPeriodValueIssuedForServices`	-	USD	2 Qtrs
Issuance of common stock for services	`StockIssuedDuringPeriodValueIssuedForServices`	$-28.00K	USD	2 Qtrs
Amortization of stock options	`AmortizationOfESOPAward`	$3.50K	USD	2 Qtrs
Net (Loss)	`NetIncomeLoss`	$-57.34K	USD	2 Qtrs
Net (Loss)	`NetIncomeLoss`	$-71.50K	USD	1 Quarter
Net (Loss)	`NetIncomeLoss`	$-15.85K	USD	1 Quarter
Net (Loss)	`NetIncomeLoss`	$-212.44K	USD	2 Qtrs
Balance	`StockholdersEquity`	$195.49K	USD	Point-in-time
Balance	`StockholdersEquity`	$14.54K	USD	Point-in-time

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