LifeMD Inc
For the period ended Dec 31, 2023. Filed Mar 11, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Mar 11, 2024
LFMD$2.10-11.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
| December 31, 2023 | December 31, 2022 | |
|---|---|---|
| ASSETS | ||
| Current Assets | ||
| Cash | $33,146,725 | $3,958,957 |
| Accounts receivable, net | 5,277,250 | 2,834,750 |
| Product deposit | 485,850 | 127,265 |
| Inventory, net | 2,759,932 | 3,703,363 |
| Other current assets | 934,510 | 687,022 |
| Total Current Assets | 42,604,267 | 11,311,357 |
| Non-current Assets | ||
| Equipment, net | 476,303 | 476,441 |
| Right of use asset | 594,897 | 1,206,009 |
| Capitalized software, net | 11,795,979 | 8,840,187 |
| Intangible assets, net | 3,009,263 | 3,831,859 |
| Total Non-current Assets | 15,876,442 | 14,354,496 |
| Total Assets | $58,480,709 | $25,665,853 |
| LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS’ EQUITY (DEFICIT) | ||
| Current Liabilities | ||
| Accounts payable | $11,084,855 | $10,106,793 |
| Accrued expenses | 13,937,494 | 12,166,509 |
| Notes payable, net | 327,597 | 2,797,250 |
| Current operating lease liabilities | 603,180 | 756,093 |
| Deferred revenue | 8,828,598 | 5,547,506 |
| Total Current Liabilities | 34,781,724 | 31,374,151 |
| Long-term Liabilities | ||
| Long-term debt, net | 17,927,727 | - |
| Noncurrent operating lease liabilities | 73,849 | 574,136 |
| Contingent consideration | 131,250 | 443,750 |
| Purchase price payable | - | 579,319 |
| Total Liabilities | 52,914,550 | 32,971,356 |
| 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 and 3,500 shares issued and outstanding, liquidation value approximately, $0 and $1,305 per share as of December 31, 2023 and 2022, respectively | - | 4,565,822 |
| 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, $29.99 and $27.84 per share as of December 31, 2023 and 2022, respectively | 140 | 140 |
| Common Stock, $0.01 par value; 100,000,000 shares authorized, 38,358,641 and 31,552,775 shares issued, 38,255,601 and 31,449,735 outstanding as of December 31, 2023 and 2022, respectively | 383,586 | 315,528 |
| Additional paid-in capital | 217,550,583 | 179,015,250 |
| Accumulated deficit | (214,265,236) | (190,562,994) |
| Treasury stock, 103,040 and 103,040 shares, at cost, as of December 31, 2023 and 2022, respectively | (163,701) | (163,701) |
| Total LifeMD, Inc. Stockholders’ Equity (Deficit) | 3,505,372 | (11,395,777) |
| Non-controlling interest | 2,060,787 | (475,548) |
| Total Stockholders’ Equity (Deficit) | 5,566,159 | (11,871,325) |
| Total Liabilities, Mezzanine Equity and Stockholders’ Equity (Deficit) | $58,480,709 | $25,665,853 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.