Financial Information

Balance Sheet

v3.19.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2019
Dec. 31, 2018
Current Assets    
Cash $ 265,107 $ 180,093
Trade accounts receivable, net 103,271 99,053
Product deposit 131,577 33,302
Inventory, net 703,286 1,022,616
Other current assets 125,765 270,006
Total Current Assets 1,329,006 1,605,070
Non-current assets    
ROU Asset 26,653
Intangible assets, net 843,258 1,011,065
Total non-current assets 869,911 1,011,065
Total Assets 2,198,917 2,616,135
Current Liabilities    
Accounts payable and accrued expenses 2,025,503 868,997
Notes payable, net 270,280 247,416
Deferred revenue 52,113 75,984
Total Current Liabilities 2,347,896 1,192,397
Long-term Liabilities    
Lease Liability 30,106
Contingent consideration on purchase of Legalsimpli 100,000 600,000
Liability to issue shares 1,150,000
Deferred tax liability 4,000
Total Liabilities 3,628,002 1,796,397
Stockholders' Equity (Deficit)    
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 June 30, 2019 and December 31, 2018, respectively 468,822 457,822
Additional paid-in capital 13,122,309 12,744,249
Accumulated (deficit) (14,941,930) (12,140,670)
Equity (1,350,799) 1,061,401
Treasury stock, 515,200 and 515,200 shares, at cost (163,701) (163,701)
Total Conversion Labs, Inc. Stockholders' (Deficit) (1,514,500) 897,700
Non-controlling interest 85,415 (77,962)
Total Stockholders' (Deficit) (1,429,085) 819,738
Total Liabilities and Stockholders' (Deficit) $ 2,198,917 $ 2,616,135

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