LifeMD Inc
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
LFMD$1.74-16.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||||
|---|---|---|---|---|
| 2024 · 2023 | ||||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||
| Net loss | $(18,963,189) | $(14,616,836) | ||
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||||
| Amortization of debt discount | 301,331 | 233,495 | ||
| Amortization of capitalized software | 5,884,893 | 3,787,716 | ||
| Amortization of intangibles | 737,836 | 725,496 | ||
| Accretion of consideration payable | 13,644 | 148,481 | ||
| Depreciation of fixed assets | 321,698 | 146,286 | ||
| Loss on debt extinguishment | - | 325,198 | ||
| Operating lease payments | 529,038 | 562,073 | ||
| Stock issued for legal settlement | - | 532,000 | ||
| Stock compensation expense | 9,129,841 | 8,843,736 | ||
| Changes in Assets and Liabilities | ||||
| Accounts receivable | (772,251) | (1,583,832) | ||
| Product deposit | 349,095 | 42,497 | ||
| Inventory | 114,489 | (87,283) | ||
| Other current assets | (1,303,495) | (616,938) | ||
| Operating lease liabilities | (446,682) | (589,744) | ||
| Deferred revenue | 7,561,943 | 691,848 | ||
| Accounts payable | 4,782,614 | (469,403) | ||
| Accrued expenses | 7,704,036 | 5,611,131 | ||
| Other operating activity | - | (579,319) | ||
| Net cash provided by operating activities | 15,944,841 | 3,106,602 | ||
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||
| Cash paid for capitalized software costs | (7,546,346) | (6,273,295) | ||
| Purchase of equipment | (1,265,447) | (94,482) | ||
| Purchase of intangible assets | (3,798) | (148,868) | ||
| Net cash used in investing activities | (8,815,591) | (6,516,645) | ||
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||
| Proceeds from long-term debt, net | - | 19,466,887 | ||
| Proceeds from notes payable | - | 2,347,691 | ||
| Repayment of notes payable, net of prepayment penalty | (327,597) | (5,043,916) | ||
| Cash proceeds from exercise of options | 107,813 | - | ||
| Sale of common stock under ATM, net | - | 899,567 | ||
| Preferred stock dividends | (2,329,688) | (2,329,688) | ||
| Contingent consideration payments for ResumeBuild acquisition | (31,250) | (187,500) | ||
| Net payments for membership interest in WorkSimpli | - | (305,625) | ||
| Distributions to non-controlling interest | (108,000) | (108,000) | ||
| Net cash (used in) provided by financing activities | (2,688,722) | 14,739,416 | ||
| Net increase in cash | 4,440,528 | 11,329,373 | ||
| Cash at beginning of period | 33,146,725 | 3,958,957 | ||
| Cash at end of period | $37,587,253 | $15,288,330 | ||
| Cash paid for interest | ||||
| Cash paid during the period for interest | $1,913,049 | $1,485,242 | ||
| Non-cash investing and financing activities | ||||
| Cashless exercise of options | $5,127 | $744 | ||
| Cashless exercise of warrants | $16,305 | $ | - | |
| Stock issued for noncontingent consideration payment | $642,000 | $1,926,000 | ||
| Series B Preferred Stock conversion | $ | - | $5,072,814 | |
| Warrants issued for debt instruments | $ | - | $873,100 | |
| Right of use asset | $6,684,397 | $155,168 | ||
| Operating lease liabilities | $6,684,397 | $155,168 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.