10-Q Filing

LifeMD, Inc. CIK: 948320 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001213900-19-008881`
Period End Date	20190331
Filing Date	20190515
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	cvlb-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 42 Cash Flow Statement 65 Stockholders Equity 18

Balance Sheet 68 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`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	45.27M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$141.38K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	46.88M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$242.26K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$180.09K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$229.83K	USD	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$433.20K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	46.37M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	45.27M	shares	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$99.05K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockCommonShares`	515,200.00	shares	Point-in-time
Product deposit	`DepositAssets`	-	USD	Point-in-time
Product deposit	`DepositAssets`	$33.30K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockCommonShares`	515,200.00	shares	Point-in-time
Inventory, net	`InventoryNet`	$1.02M	USD	Point-in-time
Inventory, net	`InventoryNet`	$877.15K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$270.01K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$118.68K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.61M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.67M	USD	Point-in-time
ROU Asset	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
ROU Asset	`OperatingLeaseRightOfUseAsset`	$28.47K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.01M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$927.16K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$1.01M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$955.63K	USD	Point-in-time
Total Assets	`Assets`	$2.63M	USD	Point-in-time
Total Assets	`Assets`	$2.62M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$869.00K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.62M	USD	Point-in-time
Notes payable, net	`NotesPayableCurrent`	$429.01K	USD	Point-in-time
Notes payable, net	`NotesPayableCurrent`	$247.42K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$228.73K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$75.98K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.19M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.27M	USD	Point-in-time
Lease Liability	`OperatingLeaseLiability`	$30.27K	USD	Point-in-time
Lease Liability	`OperatingLeaseLiability`	-	USD	Point-in-time
Contingent consideration on purchase of LegalSimpli	`CommitmentsAndContingencies`	$600.00K	USD	Point-in-time
Contingent consideration on purchase of LegalSimpli	`CommitmentsAndContingencies`	$100.00K	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	-	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$4.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.40M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.80M	USD	Point-in-time
Common stock, $0.01 par value; 100,000,000 shares authorized, 46,882,305 and 45,267,105 shares issued, 46,367,105 and 45,267,105 outstanding as of March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$468.82K	USD	Point-in-time
Common stock, $0.01 par value; 100,000,000 shares authorized, 46,882,305 and 45,267,105 shares issued, 46,367,105 and 45,267,105 outstanding as of March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$457.82K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$12.90M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$12.74M	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-12.14M	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-12.80M	USD	Point-in-time
Equity	`Equity`	$1.06M	USD	Point-in-time
Equity	`Equity`	$568.25K	USD	Point-in-time
Treasury stock, 515,200 and 515,200 shares, at cost	`TreasuryStockValue`	$163.70K	USD	Point-in-time
Treasury stock, 515,200 and 515,200 shares, at cost	`TreasuryStockValue`	$163.70K	USD	Point-in-time
Total Conversion Labs, Inc. Stockholders' Equity	`StockholdersEquity`	$404.55K	USD	Point-in-time
Total Conversion Labs, Inc. Stockholders' Equity	`StockholdersEquity`	$897.70K	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$-182.08K	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$-77.96K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$819.74K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$887.13K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$222.48K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$622.84K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$2.62M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$2.63M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`Revenues`	$2.70M	USD	1 Quarter
Net Sales	`Revenues`	$1.61M	USD	1 Quarter
Cost of Sales	`CostOfRevenue`	$355.45K	USD	1 Quarter
Cost of Sales	`CostOfRevenue`	$677.97K	USD	1 Quarter
Gross Profit	`GrossProfit`	$1.25M	USD	1 Quarter
Gross Profit	`GrossProfit`	$2.02M	USD	1 Quarter
Compensation and related expenses	`LaborAndRelatedExpense`	$381.10K	USD	1 Quarter
Compensation and related expenses	`LaborAndRelatedExpense`	$143.65K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$132.12K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$134.21K	USD	1 Quarter
Marketing expenses	`MarketingExpense`	$897.16K	USD	1 Quarter
Marketing expenses	`MarketingExpense`	$1.69M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$377.27K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$357.43K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.58M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.53M	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-563.37K	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-279.31K	USD	1 Quarter
Interest (expense)	`InterestExpense`	$6.45K	USD	1 Quarter
Interest (expense)	`InterestExpense`	$170.19K	USD	1 Quarter
Loss from continuing operations before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-731.76K	USD	1 Quarter
Loss from continuing operations before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-285.76K	USD	1 Quarter
Income from discontinued operations, including gain on sale, net of income taxes	`IncomeLossFromDiscontinuedOperationsNetOfTax`	-	USD	1 Quarter
Income from discontinued operations, including gain on sale, net of income taxes	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$925.74K	USD	1 Quarter
Net Income (Loss)	`ProfitLoss`	$639.97K	USD	1 Quarter
Net Income (Loss)	`ProfitLoss`	$-733.56K	USD	1 Quarter
Net Income (loss) attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$12.70K	USD	1 Quarter
Net Income (loss) attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-69.82K	USD	1 Quarter
Net Income (loss) attributable to Conversion Labs, Inc.	`NetIncomeLoss`	$-663.75K	USD	1 Quarter
Net Income (loss) attributable to Conversion Labs, Inc.	`NetIncomeLoss`	$627.28K	USD	1 Quarter
Basic loss per share attributable to Conversion Labs, Inc. from continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.01	USD	1 Quarter
Basic loss per share attributable to Conversion Labs, Inc. from continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.02	USD	1 Quarter
Basic income per share attributable to Conversion Labs, Inc. from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.02	USD	1 Quarter
Basic income per share attributable to Conversion Labs, Inc. from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	1 Quarter
Diluted loss per share attributable to Conversion Labs, Inc. from continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.02	USD	1 Quarter
Diluted loss per share attributable to Conversion Labs, Inc. from continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.01	USD	1 Quarter
Diluted income per share attributable to Conversion Labs, Inc. from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Diluted income per share attributable to Conversion Labs, Inc. from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$0.02	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	43.51M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	46.81M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	46.24M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	46.81M	shares	1 Quarter

Cash Flow Statement 65 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`ProfitLoss`	$639.97K	USD	1 Quarter
Net Income (Loss)	`ProfitLoss`	$-733.56K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$131.60K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	-	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$83.90K	USD	1 Quarter
(Gain) loss on discontinued operations and disposal	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
(Gain) loss on discontinued operations and disposal	`GainLossOnDispositionOfAssets1`	$691.42K	USD	1 Quarter
Stock issued for services	`StockIssuedForServices`	$16.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	-	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$154.60K	USD	1 Quarter
Operating lease payments	`ProceedsFromLeasePayments`	-	USD	1 Quarter
Operating lease payments	`ProceedsFromLeasePayments`	$1.80K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-42.39K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$334.15K	USD	1 Quarter
Product deposit	`IncreaseDecreaseInDeposits`	$-20.49K	USD	1 Quarter
Product deposit	`IncreaseDecreaseInDeposits`	$33.30K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-145.47K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-80.08K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$51.73K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-151.33K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenues`	$152.75K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenues`	-	USD	1 Quarter
Deferred tax liability	`IncreaseDecreaseInDeferredLiabilities`	$-4.00K	USD	1 Quarter
Deferred tax liability	`IncreaseDecreaseInDeferredLiabilities`	-	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-103.94K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$747.43K	USD	1 Quarter
Net cash provided by (used in) operating activities of continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-105.15K	USD	1 Quarter
Net cash provided by (used in) operating activities of continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$546.46K	USD	1 Quarter
Net cash used in operating activities of discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	-	USD	1 Quarter
Net cash used in operating activities of discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$171.08K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$546.46K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$65.93K	USD	1 Quarter
Payment to seller for contingent consideration	`PaymentForContingentConsiderationLiabilityInvestingActivities`	-	USD	1 Quarter
Payment to seller for contingent consideration	`PaymentForContingentConsiderationLiabilityInvestingActivities`	$500.00K	USD	1 Quarter
Proceeds from sale of legacy business	`ProceedsFromSaleOfOtherAssetsInvestingActivities`	$190.00K	USD	1 Quarter
Proceeds from sale of legacy business	`ProceedsFromSaleOfOtherAssetsInvestingActivities`	-	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-500.00K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$190.00K	USD	1 Quarter
Distributions to non-controlling interest	`DistributionsToNoncontrollingInterest`	$34.30K	USD	1 Quarter
Distributions to non-controlling interest	`DistributionsToNoncontrollingInterest`	-	USD	1 Quarter
Proceeds from notes payable	`ProceedsFromNotesPayable`	$50.00K	USD	1 Quarter
Proceeds from notes payable	`ProceedsFromNotesPayable`	-	USD	1 Quarter
Repayment of notes payable	`RepaymentsOfNotesPayable`	$167.48K	USD	1 Quarter
Repayment of notes payable	`RepaymentsOfNotesPayable`	-	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.70K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-167.48K	USD	1 Quarter
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$153.53K	USD	1 Quarter
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$88.45K	USD	1 Quarter
Cash at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$141.38K	USD	Point-in-time
Cash at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$242.26K	USD	Point-in-time
Cash at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$180.09K	USD	Point-in-time
Cash at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$229.83K	USD	Point-in-time
Cash at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$141.38K	USD	Point-in-time
Cash at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$242.26K	USD	Point-in-time
Cash at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$180.09K	USD	Point-in-time
Cash at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$229.83K	USD	Point-in-time
Cash paid during the period for interest	`InterestPaidNet`	$4.72K	USD	1 Quarter
Cash paid during the period for interest	`InterestPaidNet`	$4.38K	USD	1 Quarter
Conversion of liability as consideration on sale of legacy business	`ConversionOfLiabilityAsConsiderationOnSaleOfLegacyBusiness`	$150.00K	USD	1 Quarter
Conversion of liability as consideration on sale of legacy business	`ConversionOfLiabilityAsConsiderationOnSaleOfLegacyBusiness`	-	USD	1 Quarter
Retirement of stock	`RetirementOfStock`	$375.69K	USD	1 Quarter
Retirement of stock	`RetirementOfStock`	-	USD	1 Quarter
Stock repurchase from shareholder	`StockRepurchaseFromShareholdersRetirementOfStock`	$375.69K	USD	1 Quarter
Stock repurchase from shareholder	`StockRepurchaseFromShareholdersRetirementOfStock`	-	USD	1 Quarter

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$819.74K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$887.13K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$222.48K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$622.84K	USD	Point-in-time
Issuance of common stock for services	`StockIssuedDuringPeriodValueIssuedForServices`	$67.66K	USD	1 Quarter
Stock repurchase from shareholder	`StockIssuedDuringPeriodValueTreasuryStockReissued`	$-460.00K	USD	1 Quarter
Retirement of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	-	USD	1 Quarter
Stock issued for services	`StockIssuedForServices`	$16.00K	USD	1 Quarter
Stock compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$154.60K	USD	1 Quarter
Distributions to non-controlling interest	`DistributionsToNoncontrollingInterest`	$34.30K	USD	1 Quarter
Distributions to non-controlling interest	`DistributionsToNoncontrollingInterest`	-	USD	1 Quarter
Issuance of stock options for services	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$16.66K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$639.97K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-733.56K	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$819.74K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$887.13K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$222.48K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$622.84K	USD	Point-in-time

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