2022 Q4 Form 10-Q Financial Statement
#000121390022071238 Filed on November 10, 2022
Income Statement
Concept | 2022 Q4 | 2022 Q3 | 2021 Q3 |
---|---|---|---|
Revenue | $2.147M | $2.752M | $2.383M |
YoY Change | -11.22% | 15.47% | -9.71% |
Cost Of Revenue | $825.5K | $1.047M | $1.116M |
YoY Change | -39.99% | -6.13% | 46.6% |
Gross Profit | $1.321M | $1.704M | $1.267M |
YoY Change | 26.73% | 34.47% | -32.52% |
Gross Profit Margin | 61.54% | 61.94% | 53.19% |
Selling, General & Admin | $2.416M | $2.908M | $1.561M |
YoY Change | -18.24% | 86.23% | -27.27% |
% of Gross Profit | 182.84% | 170.61% | 123.19% |
Research & Development | $399.4K | $374.8K | $203.0K |
YoY Change | 765.52% | 84.7% | -21.29% |
% of Gross Profit | 30.23% | 21.99% | 16.01% |
Depreciation & Amortization | $219.0K | $210.6K | $193.8K |
YoY Change | 14.06% | 8.67% | -68.7% |
% of Gross Profit | 16.58% | 12.36% | 15.29% |
Operating Expenses | $3.681M | $3.842M | $1.764M |
YoY Change | 42.81% | 117.79% | -26.63% |
Operating Profit | -$2.360M | -$2.138M | -$496.9K |
YoY Change | 53.73% | 330.31% | -5.61% |
Interest Expense | $61.74K | $44.59K | -$144.8K |
YoY Change | -320.5% | -130.79% | -73.76% |
% of Operating Profit | |||
Other Income/Expense, Net | $0.00 | $44.59K | -$144.8K |
YoY Change | -130.79% | ||
Pretax Income | -$2.298M | -$2.094M | -$641.7K |
YoY Change | -62.23% | 226.25% | -40.49% |
Income Tax | $138.0K | ||
% Of Pretax Income | |||
Net Earnings | -$2.507M | -$2.094M | -$641.7K |
YoY Change | -60.14% | 226.25% | -40.49% |
Net Earnings / Revenue | -116.77% | -76.08% | -26.93% |
Basic Earnings Per Share | -$0.23 | -$0.12 | |
Diluted Earnings Per Share | -$0.26 | -$0.23 | -$107.5K |
COMMON SHARES | |||
Basic Shares Outstanding | 9.609M shares | 9.609M shares | 5.969M shares |
Diluted Shares Outstanding | 9.609M shares | 5.969M shares |
Balance Sheet
Concept | 2022 Q4 | 2022 Q3 | 2021 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $6.977M | $9.329M | $16.05M |
YoY Change | -42.07% | -41.87% | 666.85% |
Cash & Equivalents | $6.977M | $9.329M | $16.23M |
Short-Term Investments | |||
Other Short-Term Assets | $409.1K | $949.4K | $955.3K |
YoY Change | -61.38% | -0.61% | 78.45% |
Inventory | $1.745M | $1.077M | $912.9K |
Prepaid Expenses | |||
Receivables | $402.6K | $416.9K | $67.05K |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $9.534M | $11.77M | $17.98M |
YoY Change | -33.97% | -34.53% | 405.38% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $255.6K | $246.7K | |
YoY Change | 2.93% | ||
Goodwill | $10.96M | $10.96M | |
YoY Change | 0.0% | ||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $16.11M | $15.79M | $20.41M |
YoY Change | 2.7% | -22.66% | -4.06% |
TOTAL ASSETS | |||
Total Short-Term Assets | $9.534M | $11.77M | $17.98M |
Total Long-Term Assets | $16.11M | $15.79M | $20.41M |
Total Assets | $25.64M | $27.56M | $38.39M |
YoY Change | -14.88% | -28.22% | 54.6% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $673.1K | $1.331M | $1.229M |
YoY Change | 36.68% | 8.24% | -38.44% |
Accrued Expenses | $1.692M | $996.2K | $1.660M |
YoY Change | 99.24% | -39.97% | 28.7% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | ||
Long-Term Debt Due | $0.00 | ||
YoY Change | -100.0% | ||
Total Short-Term Liabilities | $2.414M | $2.381M | $3.962M |
YoY Change | 79.88% | -39.91% | -30.44% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | ||
Other Long-Term Liabilities | $440.3K | $331.4K | $206.8K |
YoY Change | 14.29% | 60.21% | -84.58% |
Total Long-Term Liabilities | $440.3K | $331.4K | $206.8K |
YoY Change | 14.29% | 60.21% | -97.91% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $2.414M | $2.381M | $3.962M |
Total Long-Term Liabilities | $440.3K | $331.4K | $206.8K |
Total Liabilities | $2.854M | $2.712M | $4.168M |
YoY Change | 65.25% | -34.94% | -73.24% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$85.61M | -$83.18M | |
YoY Change | 8.84% | ||
Common Stock | $961.00 | $961.00 | |
YoY Change | 4.8% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $20.98M | $23.04M | $34.23M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $25.64M | $27.56M | $38.39M |
YoY Change | -14.88% | -28.22% | 54.6% |
Cashflow Statement
Concept | 2022 Q4 | 2022 Q3 | 2021 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$2.507M | -$2.094M | -$641.7K |
YoY Change | -60.14% | 226.25% | -40.49% |
Depreciation, Depletion And Amortization | $219.0K | $210.6K | $193.8K |
YoY Change | 14.06% | 8.67% | -68.7% |
Cash From Operating Activities | -$1.699M | -$1.457M | -$1.517M |
YoY Change | -35.26% | -3.95% | -9800.13% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $33.84K | -$70.91K | |
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$543.9K | -$212.5K | $0.00 |
YoY Change | |||
Cash From Investing Activities | -$577.8K | -$283.4K | $0.00 |
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -75.00K | -75.00K | 14.36M |
YoY Change | -94.46% | -100.52% | 2831.91% |
NET CHANGE | |||
Cash From Operating Activities | -1.699M | -1.457M | -1.517M |
Cash From Investing Activities | -577.8K | -283.4K | 0.000 |
Cash From Financing Activities | -75.00K | -75.00K | 14.36M |
Net Change In Cash | -2.351M | -1.816M | 12.84M |
YoY Change | -40.88% | -114.14% | 2440.91% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$1.699M | -$1.457M | -$1.517M |
Capital Expenditures | $33.84K | -$70.91K | |
Free Cash Flow | -$1.732M | -$1.386M | |
YoY Change |
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2022-09-30 | ||
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LogicMark, Inc. | ||
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GeneralAndAdministrativeExpense
|
2575105 | usd |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
7025674 | usd | |
CY2022Q3 | us-gaap |
Other Cost And Expense Operating
OtherCostAndExpenseOperating
|
3222 | usd |
us-gaap |
Other Cost And Expense Operating
OtherCostAndExpenseOperating
|
35306 | usd | |
us-gaap |
Other Cost And Expense Operating
OtherCostAndExpenseOperating
|
45856 | usd | |
CY2022Q3 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
210632 | usd |
CY2021Q3 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
193823 | usd |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
599686 | usd | |
CY2022Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
3842471 | usd |
us-gaap |
Operating Expenses
OperatingExpenses
|
10456458 | usd | |
CY2022Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2138105 | usd |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-4546683 | usd | |
CY2022Q3 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
44587 | usd |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
57747 | usd | |
lgmk |
Warrant Modification Expense
WarrantModificationExpense
|
-2881729 | usd | |
CY2022Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
44587 | usd |
CY2021Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-144821 | usd |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
57747 | usd | |
CY2022Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-2093518 | usd |
CY2021Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-641704 | usd |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-4488936 | usd | |
CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2093518 | usd |
CY2021Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-641704 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-4488936 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-5419609 | usd | |
CY2022Q3 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
81790 | usd |
CY2021Q3 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
82301 | usd |
us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
257934 | usd | |
CY2022Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-2175308 | usd |
CY2021Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-724005 | usd |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-4746870 | usd | |
CY2022Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.23 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.5 | ||
CY2022Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
9608937 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
9562347 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
5377465 | shares | |
CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
24761528 | usd |
CY2022Q3 | lgmk |
Stock Granted During Period Values Sharebased Compensation Gross
StockGrantedDuringPeriodValuesSharebasedCompensationGross
|
453401 | usd |
CY2022Q3 | lgmk |
Series C Preferred Stock Dividends
SeriesCPreferredStockDividends
|
-75000 | usd |
CY2022Q3 | us-gaap |
Dividends Preferred Stock
DividendsPreferredStock
|
6790 | usd |
CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2093518 | usd |
CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
23039621 | usd |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
26589171 | usd |
lgmk |
Stock Granted During Period Values Sharebased Compensation Gross
StockGrantedDuringPeriodValuesSharebasedCompensationGross
|
669015 | usd | |
us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
528305 | usd | |
lgmk |
Series C Preferred Stock Dividends
SeriesCPreferredStockDividends
|
-225000 | usd | |
us-gaap |
Dividends Preferred Stock
DividendsPreferredStock
|
32934 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-4488936 | usd | |
CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
23039621 | usd |
CY2021Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
17359350 | usd |
CY2021Q3 | lgmk |
Stock Granted During Period Values Sharebased Compensation Gross
StockGrantedDuringPeriodValuesSharebasedCompensationGross
|
40000 | usd |
CY2021Q3 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
3999999 | usd |
CY2021Q3 | lgmk |
Sale Of Common Stock And Warrants Pursuant To A Registration Statement On Form S1
SaleOfCommonStockAndWarrantsPursuantToARegistrationStatementOnFormS1
|
11834722 | usd |
CY2021Q3 | us-gaap |
Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
|
-380657 | usd |
CY2021Q3 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
288000 | usd |
CY2021Q3 | lgmk |
Series C Preferred Stock Dividends
SeriesCPreferredStockDividends
|
-75000 | usd |
CY2021Q3 | us-gaap |
Dividends Preferred Stock
DividendsPreferredStock
|
7301 | usd |
CY2021Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-641704 | usd |
CY2021Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
32417409 | usd |
CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
9159210 | usd |
us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
120000 | usd | |
us-gaap |
Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
|
4000003 | usd | |
us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
3999999 | usd | |
lgmk |
Exercise Of Common Stock Purchase Warrants On A Cash Basis
ExerciseOfCommonStockPurchaseWarrantsOnACashBasis
|
6670011 | usd | |
us-gaap |
Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
|
2881729 | usd | |
us-gaap |
Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
|
80456 | usd | |
lgmk |
Sale Of Common Stock And Warrants Pursuant To A Registration Statement On Form S1
SaleOfCommonStockAndWarrantsPursuantToARegistrationStatementOnFormS1
|
11834722 | usd | |
us-gaap |
Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
|
-424813 | usd | |
us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
288000 | usd | |
lgmk |
Series C Preferred Stock Dividends
SeriesCPreferredStockDividends
|
-765000 | usd | |
us-gaap |
Dividends Preferred Stock
DividendsPreferredStock
|
7299 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-5419609 | usd | |
CY2021Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
32417409 | usd |
us-gaap |
Profit Loss
ProfitLoss
|
-4488936 | usd | |
us-gaap |
Profit Loss
ProfitLoss
|
-5419609 | usd | |
us-gaap |
Depreciation
Depreciation
|
17171 | usd | |
us-gaap |
Depreciation
Depreciation
|
29208 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1197320 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
288000 | usd | |
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
137855 | usd | |
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
582517 | usd | |
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
569796 | usd | |
us-gaap |
Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
|
-713119 | usd | |
us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
2881729 | usd | |
lgmk |
Forgiveness Of Ppp Loans And Accrued Interst
ForgivenessOfPPPLoansAndAccruedInterst
|
-349176 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
318103 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-66671 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-160120 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
145538 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
40223 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
314563 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
817094 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-1519328 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
162380 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-228483 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1910660 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-3290319 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
242618 | usd | |
us-gaap |
Payments To Acquire Software
PaymentsToAcquireSoftware
|
481768 | usd | |
us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
6008 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-730394 | usd | |
lgmk |
Proceeds From Exercise Of Common Stock Warrants
ProceedsFromExerciseOfCommonStockWarrants
|
11834722 | usd | |
lgmk |
Proceeds From Ppp Loan
ProceedsFromPPPLoan
|
4000003 | usd | |
lgmk |
Proceed Received In Connection With Issuance Of Series F Preferred Stock Net
ProceedReceivedInConnectionWithIssuanceOfSeriesFPreferredStockNet
|
3999999 | usd | |
us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
6670494 | usd | |
lgmk |
Termination Fee Upon Early Payment Of Term Loan
TerminationFeeUponEarlyPaymentOfTermLoan
|
11095877 | usd | |
lgmk |
Fees Paid In Connection With Equity Offerings
FeesPaidInConnectionWithEquityOfferings
|
-424813 | usd | |
us-gaap |
Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
|
225000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-225000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
14984528 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-2866054 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
11694209 | usd | |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
12254546 | usd |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
4537546 | usd |
CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
9388492 | usd |
CY2021Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
16231755 | usd |
us-gaap |
Interest Paid Net
InterestPaidNet
|
1395611 | usd | |
us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
47874 | usd | |
lgmk |
Accrued Preferred Stock Dividends
AccruedPreferredStockDividends
|
32934 | usd | |
lgmk |
Accrued Preferred Stock Dividends
AccruedPreferredStockDividends
|
266907 | usd | |
us-gaap |
Stock Issued1
StockIssued1
|
80456 | usd | |
lgmk |
Conversion Of Series E Preferred Stock To Common Stocks
ConversionOfSeriesEPreferredStockToCommonStocks
|
4000003 | usd | |
lgmk |
Conversion Of Series F Preferred Stock To Common Stocks
ConversionOfSeriesFPreferredStockToCommonStocks
|
3479999 | usd | |
lgmk |
Website Development Included In Accounts Payabl
WebsiteDevelopmentIncludedInAccountsPayabl
|
21255 | usd | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-4546683 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-4488936 | usd | |
CY2022Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
9328504 | usd |
CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
23039621 | usd |
CY2022Q3 | lgmk |
Working Capital
WorkingCapital
|
9391383 | usd |
CY2022Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Rolling Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive
|
241218 | usd |
CY2022Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
|
531139 | usd |
CY2021Q4 | lgmk |
Working Capital
WorkingCapital
|
13098049 | usd |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>USE OF ESTIMATES IN THE FINANCIAL STATEMENTS</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with generally accepted accounting principles in the United States (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company’s management evaluates these significant estimates and assumptions, including those related to the fair value of acquired assets and liabilities, stock-based compensation, income taxes, allowance for doubtful accounts, long-lived assets, and inventories, and other matters that affect the financial statements and disclosures. Actual results could differ from those estimates.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | ||
CY2022Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
9328504 | usd |
CY2021Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
12044415 | usd |
CY2022Q3 | us-gaap |
Restricted Cash
RestrictedCash
|
59988 | usd |
CY2021Q4 | us-gaap |
Restricted Cash
RestrictedCash
|
210131 | usd |
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>CONCENTRATIONS OF CREDIT RISK</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents. The Company maintains its cash and cash equivalents balances in large well-established financial institutions located in the United States. At times, the Company’s cash and cash equivalents balances may be uninsured or in deposit accounts that exceed the Federal Deposit Insurance Corporation (FDIC) insurance limits. Cash equivalents amounted to $9,057,747 on September 30, 2022.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | ||
CY2022Q3 | lgmk |
Freight Charges
FreightCharges
|
94080 | usd |
lgmk |
Freight Charges
FreightCharges
|
467293 | usd | |
CY2021Q3 | lgmk |
Freight Charges
FreightCharges
|
149923 | usd |
lgmk |
Freight Charges
FreightCharges
|
374484 | usd | |
CY2022Q3 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
1146 | usd |
CY2021Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
5411 | usd |
CY2022Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Rolling Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextRollingTwelveMonths
|
776964 | usd |
CY2022Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Rolling Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo
|
776964 | usd |
CY2022Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
|
776964 | usd |
CY2022Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Rolling Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour
|
602648 | usd |
CY2022Q3 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
1077160 | usd |
CY2021Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
1237280 | usd |
CY2022Q3 | us-gaap |
Advances On Inventory Purchases
AdvancesOnInventoryPurchases
|
670221 | usd |
CY2021Q4 | us-gaap |
Advances On Inventory Purchases
AdvancesOnInventoryPurchases
|
559938 | usd |
CY2022Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
|
194241 | usd |
lgmk |
Stock Options To Purchase
StockOptionsToPurchase
|
444660 | shares | |
lgmk |
Stock Options To Purchase
StockOptionsToPurchase
|
40858 | shares | |
us-gaap |
Development Costs
DevelopmentCosts
|
481768 | usd | |
CY2022Q3 | us-gaap |
Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
|
160719 | usd |
CY2021Q4 | us-gaap |
Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
|
54229 | usd |
CY2022Q3 | lgmk |
Accrued Merchant Bank Fees
AccruedMerchantBankFees
|
17018 | usd |
CY2021Q4 | lgmk |
Accrued Merchant Bank Fees
AccruedMerchantBankFees
|
17853 | usd |
CY2022Q3 | us-gaap |
Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
|
197825 | usd |
CY2021Q4 | us-gaap |
Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
|
104500 | usd |
CY2022Q3 | lgmk |
Accrued Managements Incentives
AccruedManagementsIncentives
|
420350 | usd |
CY2021Q4 | lgmk |
Accrued Managements Incentives
AccruedManagementsIncentives
|
285000 | usd |
CY2022Q3 | lgmk |
Lease Liability
LeaseLiability
|
71101 | usd |
CY2021Q4 | lgmk |
Lease Liability
LeaseLiability
|
64346 | usd |
CY2022Q3 | us-gaap |
Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
|
53524 | usd |
CY2021Q4 | us-gaap |
Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
|
94933 | usd |
CY2022Q3 | us-gaap |
Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
|
129217 | usd |
CY2021Q4 | us-gaap |
Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
|
228424 | usd |
CY2022Q3 | us-gaap |
Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
|
1049754 | usd |
CY2021Q4 | us-gaap |
Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
|
849285 | usd |
CY2021Q4 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
On October 15, 2021, the Company announced that its shareholders had approved a reverse split of its common stock and Series C Redeemable Preferred at a ratio of 1 for 10. As a result of the reverse split, every 10 pre-split shares of common stock outstanding and every 10 pre-split shares of Series C Redeemable Preferred Stock outstanding were automatically exchanged for one new share of each without any action on the part of the holders. | |
CY2021Q3 | lgmk |
Gross Proceeds
GrossProceeds
|
12500000 | usd |
CY2021Q3 | us-gaap |
Alternative Investment
AlternativeInvestment
|
3999999 | usd |
lgmk |
Voting Rights Description
VotingRightsDescription
|
One share of Series C Redeemable Preferred Stock carries the same voting rights as one share of common stock. | ||
CY2022Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
247870 | usd |
CY2022Q3 | lgmk |
Payment With Imputed Interest Premium
PaymentWithImputedInterestPremium
|
41051 | usd |
CY2022Q2 | us-gaap |
Other Expenses
OtherExpenses
|
34203 | usd |
CY2022Q3 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
22500 | shares |
CY2022Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
|
1.09 | |
CY2022Q3 | us-gaap |
Defined Contribution Plan Employers Matching Contribution Annual Vesting Percentage
DefinedContributionPlanEmployersMatchingContributionAnnualVestingPercentage
|
1 | pure |
CY2022Q3 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
1.09 | |
CY2022Q3 | us-gaap |
Other Expenses
OtherExpenses
|
54233 | usd |
CY2022Q3 | lgmk |
Vested Stock Options Shares
VestedStockOptionsShares
|
45875 | shares |
us-gaap |
Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
|
72815 | usd | |
lgmk |
Real Estate Lease Term Description
RealEstateLeaseTermDescription
|
The Company’s real estate lease, which is for office space and a fulfillment center, with a lease term of 5 years, expiring in August 2025. The Company also leases a copier with a lease term of 5 years, ending August 2023. | ||
lgmk |
Monthly Rent Amount
MonthlyRentAmount
|
6400 | usd | |
lgmk |
Increasing Annual Rent Percentage
IncreasingAnnualRentPercentage
|
0.03 | pure | |
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
75761 | usd | |
lgmk |
Lease Costs Included In Direct Operating Costs
LeaseCostsIncludedInDirectOperatingCosts
|
58613 | usd | |
lgmk |
Lease Costs Included In General And Administrative Expense
LeaseCostsIncludedInGeneralAndAdministrativeExpense
|
17148 | usd | |
CY2022Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
23746 | usd |
CY2022Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
89724 | usd |
CY2022Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
80000 | usd |
CY2022Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
54400 | usd |
CY2022Q3 | lgmk |
Total Present Value Of Future Minimum Lease Payments
TotalPresentValueOfFutureMinimumLeasePayments
|
206819 | usd |
CY2022Q3 | lgmk |
Forgiveness Of Ppp Loan And Accrued Interest
ForgivenessOfPPPLoanAndAccruedInterest
|
usd | |
lgmk |
Forgiveness Of Ppp Loan And Accrued Interest
ForgivenessOfPPPLoanAndAccruedInterest
|
usd | ||
CY2022Q3 | lgmk |
Warrant Modification Expense
WarrantModificationExpense
|
usd | |
CY2021Q3 | lgmk |
Warrant Modification Expense
WarrantModificationExpense
|
usd | |
lgmk |
Warrant Modification Expense
WarrantModificationExpense
|
usd | ||
CY2022Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
usd | |
CY2021Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.12 | |
CY2022Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.23 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.50 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-1.43 | ||
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
5377465 | shares | |
CY2021Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
5969312 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
9562347 | shares | |
CY2022Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
9608937 | shares |
CY2022Q3 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
usd | |
CY2021Q3 | lgmk |
Conversion Of Series D Preferred Stock To Common Stock
ConversionOfSeriesDPreferredStockToCommonStock
|
usd | |
CY2021Q3 | us-gaap |
Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
|
usd | |
us-gaap |
Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
|
usd | ||
us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
usd | ||
lgmk |
Conversion Of Series D Preferred Stock To Common Stock
ConversionOfSeriesDPreferredStockToCommonStock
|
usd | ||
lgmk |
Exercise Of Common Stock Purchase Warrants On A Cashless Basis
ExerciseOfCommonStockPurchaseWarrantsOnACashlessBasis
|
usd | ||
us-gaap |
Stock Issued During Period Value Stock Dividend
StockIssuedDuringPeriodValueStockDividend
|
usd | ||
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
usd | ||
us-gaap |
Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
|
usd | ||
us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
usd | ||
lgmk |
Forgiveness Of Ppp Loans And Accrued Interst
ForgivenessOfPPPLoansAndAccruedInterst
|
usd | ||
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
usd | ||
us-gaap |
Payments To Acquire Software
PaymentsToAcquireSoftware
|
usd | ||
us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
usd | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
usd | ||
lgmk |
Proceeds From Exercise Of Common Stock Warrants
ProceedsFromExerciseOfCommonStockWarrants
|
usd | ||
lgmk |
Proceeds From Ppp Loan
ProceedsFromPPPLoan
|
usd | ||
lgmk |
Proceed Received In Connection With Issuance Of Series F Preferred Stock Net
ProceedReceivedInConnectionWithIssuanceOfSeriesFPreferredStockNet
|
usd | ||
us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
usd | ||
lgmk |
Termination Fee Upon Early Payment Of Term Loan
TerminationFeeUponEarlyPaymentOfTermLoan
|
usd | ||
lgmk |
Fees Paid In Connection With Equity Offerings
FeesPaidInConnectionWithEquityOfferings
|
usd | ||
us-gaap |
Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
|
usd | ||
us-gaap |
Interest Paid Net
InterestPaidNet
|
usd | ||
us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
usd | ||
lgmk |
Equity Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
EquityIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
|
usd | ||
lgmk |
Equity Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
EquityIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
|
usd | ||
us-gaap |
Stock Issued1
StockIssued1
|
usd | ||
lgmk |
Conversion Of Series E Preferred Stock To Common Stocks
ConversionOfSeriesEPreferredStockToCommonStocks
|
usd | ||
lgmk |
Conversion Of Series F Preferred Stock To Common Stocks
ConversionOfSeriesFPreferredStockToCommonStocks
|
usd | ||
lgmk |
Website Development Included In Accounts Payabl
WebsiteDevelopmentIncludedInAccountsPayabl
|
usd | ||
CY2022Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P5Y | |
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q3 | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001566826 |