2023 Q4 Form 10-Q Financial Statement
#000121390023085106 Filed on November 09, 2023
Income Statement
Concept | 2023 Q4 | 2023 Q3 |
---|---|---|
Revenue | $2.426M | $2.367M |
YoY Change | 13.01% | -13.97% |
Cost Of Revenue | $825.6K | $770.0K |
YoY Change | 0.02% | -26.48% |
Gross Profit | $1.600M | $1.597M |
YoY Change | 21.12% | -6.28% |
Gross Profit Margin | 65.96% | 67.47% |
Selling, General & Admin | $2.386M | $2.538M |
YoY Change | -1.23% | -12.71% |
% of Gross Profit | 149.11% | 158.91% |
Research & Development | $175.8K | $242.7K |
YoY Change | -55.98% | -35.25% |
% of Gross Profit | 10.99% | 15.19% |
Depreciation & Amortization | $295.1K | $217.8K |
YoY Change | 34.74% | 3.38% |
% of Gross Profit | 18.44% | 13.63% |
Operating Expenses | $3.172M | $3.377M |
YoY Change | -13.83% | -12.12% |
Operating Profit | -$1.572M | -$1.780M |
YoY Change | -33.4% | -16.77% |
Interest Expense | $72.00K | $88.98K |
YoY Change | 16.62% | 99.55% |
% of Operating Profit | ||
Other Income/Expense, Net | $0.00 | $54.30K |
YoY Change | 21.78% | |
Pretax Income | -$9.315M | -$1.444M |
YoY Change | 305.33% | -31.0% |
Income Tax | -$309.9K | |
% Of Pretax Income | ||
Net Earnings | -$10.01M | -$1.444M |
YoY Change | 299.35% | -31.0% |
Net Earnings / Revenue | -412.66% | -61.02% |
Basic Earnings Per Share | -$1.10 | |
Diluted Earnings Per Share | -$5.71 | -$1.10 |
COMMON SHARES | ||
Basic Shares Outstanding | 1.419M shares | 1.325M shares |
Diluted Shares Outstanding | 1.380M shares |
Balance Sheet
Concept | 2023 Q4 | 2023 Q3 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $6.398M | $6.683M |
YoY Change | -8.3% | -28.36% |
Cash & Equivalents | $6.400M | $6.700M |
Short-Term Investments | ||
Other Short-Term Assets | $460.0K | $740.9K |
YoY Change | 12.44% | -21.97% |
Inventory | $1.177M | $1.136M |
Prepaid Expenses | $300.0K | |
Receivables | $13.65K | $12.19K |
Other Receivables | $0.00 | $0.00 |
Total Short-Term Assets | $8.049M | $8.572M |
YoY Change | -15.57% | -27.18% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $203.3K | $228.5K |
YoY Change | -20.44% | -7.37% |
Goodwill | $3.144M | $10.96M |
YoY Change | -71.31% | 0.0% |
Intangibles | ||
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | ||
YoY Change | ||
Total Long-Term Assets | $8.968M | $16.58M |
YoY Change | -44.32% | 5.03% |
TOTAL ASSETS | ||
Total Short-Term Assets | $8.049M | $8.572M |
Total Long-Term Assets | $8.968M | $16.58M |
Total Assets | $17.02M | $25.15M |
YoY Change | -33.63% | -8.73% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $901.6K | $715.8K |
YoY Change | 33.96% | -46.21% |
Accrued Expenses | $1.151M | $1.211M |
YoY Change | -31.97% | 21.56% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $2.053M | $1.927M |
YoY Change | -14.95% | -19.06% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Other Long-Term Liabilities | $51.84K | $390.3K |
YoY Change | -88.22% | 17.78% |
Total Long-Term Liabilities | $51.84K | $390.3K |
YoY Change | -88.22% | 17.78% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $2.053M | $1.927M |
Total Long-Term Liabilities | $51.84K | $390.3K |
Total Liabilities | $2.105M | $2.317M |
YoY Change | -26.25% | -14.56% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$100.2M | -$91.16M |
YoY Change | 17.0% | 9.59% |
Common Stock | $216.00 | $142.00 |
YoY Change | -77.52% | -85.22% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $13.11M | $21.03M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $17.02M | $25.15M |
YoY Change | -33.63% | -8.73% |
Cashflow Statement
Concept | 2023 Q4 | 2023 Q3 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$10.01M | -$1.444M |
YoY Change | 299.35% | -31.0% |
Depreciation, Depletion And Amortization | $295.1K | $217.8K |
YoY Change | 34.74% | 3.38% |
Cash From Operating Activities | -$724.0K | -$395.6K |
YoY Change | -57.38% | -72.85% |
INVESTING ACTIVITIES | ||
Capital Expenditures | $2.300K | $2.370K |
YoY Change | -93.2% | -103.34% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | -$335.5K | -$493.8K |
YoY Change | -38.32% | 132.37% |
Cash From Investing Activities | -$337.9K | -$496.2K |
YoY Change | -41.52% | 75.06% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | 717.1K | -75.00K |
YoY Change | -1056.13% | 0.0% |
NET CHANGE | ||
Cash From Operating Activities | -724.0K | -395.6K |
Cash From Investing Activities | -337.9K | -496.2K |
Cash From Financing Activities | 717.1K | -75.00K |
Net Change In Cash | -344.8K | -966.7K |
YoY Change | -85.34% | -46.75% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$724.0K | -$395.6K |
Capital Expenditures | $2.300K | $2.370K |
Free Cash Flow | -$726.3K | -$397.9K |
YoY Change | -58.08% | -71.29% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-9.93 | ||
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Document Type
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true | ||
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Document Period End Date
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|
2023-09-30 | ||
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2023 | ||
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001-36616 | ||
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LogicMark, Inc. | ||
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NV | ||
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46-0678374 | ||
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2801 Diode Lane | ||
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Louisville | ||
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KY | ||
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40299 | ||
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(502) | ||
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442-7911 | ||
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Common Stock, par value $0.0001 per share | ||
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LGMK | ||
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NASDAQ | ||
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NetIncomeLoss
|
-2093518 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-5545795 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-4488936 | usd | |
CY2023Q3 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
75000 | usd |
CY2022Q3 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
81790 | usd |
us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
225000 | usd | |
us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
257934 | usd | |
CY2023Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-1519476 | usd |
CY2022Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-2175308 | usd |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-5770795 | usd | |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-4746870 | usd | |
CY2023Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-1.1 | |
CY2022Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-4.53 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-4.73 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-9.93 | ||
CY2023Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
1380373 | shares |
CY2022Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
480447 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
1219749 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
478118 | shares | |
CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
22129497 | usd |
CY2023Q3 | us-gaap |
Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
|
406097 | usd |
CY2023Q3 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
11679 | usd |
CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1444476 | usd |
CY2023Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
21027797 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
20980019 | usd |
us-gaap |
Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
|
1198397 | usd | |
us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
13882 | usd | |
lgmk |
Sale Of Common Stock And Warrants Pursuant To A Registration Statement On Form S1
SaleOfCommonStockAndWarrantsPursuantToARegistrationStatementOnFormS1
|
5211428 | usd | |
lgmk |
Fees Incurred In Connection With Equity Offerings Value
FeesIncurredInConnectionWithEquityOfferingsValue
|
-816017 | usd | |
us-gaap |
Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
|
162494 | usd | |
us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
48389 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-5545795 | usd | |
CY2023Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
21027797 | usd |
CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
24761528 | usd |
CY2022Q3 | us-gaap |
Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
|
453401 | 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 |
us-gaap |
Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
|
1062283 | usd | |
us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
135037 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-4488936 | usd | |
CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
23039621 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-5545795 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-4488936 | usd | |
us-gaap |
Depreciation
Depreciation
|
78121 | usd | |
us-gaap |
Depreciation
Depreciation
|
17171 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1212279 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1197320 | usd | |
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
571347 | usd | |
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
582517 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-390401 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
318103 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-609425 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-160120 | usd | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
331776 | usd | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
40223 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-83040 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
817094 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-492455 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
162380 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-3591493 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1910660 | usd | |
us-gaap |
Payments To Acquire In Process Research And Development
PaymentsToAcquireInProcessResearchAndDevelopment
|
51073 | usd | |
us-gaap |
Payments To Acquire In Process Research And Development
PaymentsToAcquireInProcessResearchAndDevelopment
|
242618 | usd | |
us-gaap |
Payments To Acquire Software
PaymentsToAcquireSoftware
|
400895 | usd | |
us-gaap |
Payments To Acquire Software
PaymentsToAcquireSoftware
|
233332 | usd | |
us-gaap |
Payments To Develop Software
PaymentsToDevelopSoftware
|
583561 | usd | |
us-gaap |
Payments To Develop Software
PaymentsToDevelopSoftware
|
248436 | usd | |
us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
6008 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1035529 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-730394 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
5211428 | usd | |
us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
816017 | usd | |
us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
162494 | usd | |
us-gaap |
Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
|
225000 | 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
|
4332905 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-225000 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-294117 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-2866054 | usd | |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
7037102 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
12254546 | usd |
CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
6742985 | usd |
CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
9388492 | usd |
lgmk |
Accrued Preferred Stock Dividends
AccruedPreferredStockDividends
|
32934 | usd | |
lgmk |
Conversion Of Series F Preferred Stock To Common Stock
ConversionOfSeriesFPreferredStockToCommonStock
|
201000 | usd | |
lgmk |
Common Stock Issued To Settle Series F Preferred Stock Dividends
CommonStockIssuedToSettleSeriesFPreferredStockDividends
|
48389 | usd | |
lgmk |
Product Development Costs Included In Accounts Payable
ProductDevelopmentCostsIncludedInAccountsPayable
|
69595 | usd | |
lgmk |
Software Development Costs Included In Accounts Payable
SoftwareDevelopmentCostsIncludedInAccountsPayable
|
71231 | usd | |
lgmk |
Website Development Included In Accounts Payable
WebsiteDevelopmentIncludedInAccountsPayable
|
21255 | usd | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-5900000 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-5500000 | usd | |
CY2023Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
6700000 | usd |
CY2023Q3 | lgmk |
Working Capital
WorkingCapital
|
6600000 | usd |
CY2022Q4 | lgmk |
Working Capital
WorkingCapital
|
7100000 | usd |
us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>NOTE 3 - BASIS OF PRESENTATION</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying unaudited condensed financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. In the opinion of management, the information herein reflects all adjustments, consisting only of normal recurring adjustments, except as otherwise noted, considered necessary for a fair statement of results of operations, financial position, stockholders’ equity, and cash flows. The results for the interim periods presented are not necessarily indicative of the results expected for any future period. The following information should be read in conjunction with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 which was filed with the SEC on March 30, 2023.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 1, 2023 (“Effective Date”), LogicMark, Inc., a Delaware corporation (the “Predecessor”), merged with and into its wholly-owned subsidiary, LogicMark, Inc., a Nevada corporation (the “Reincorporation”), pursuant to an agreement and plan of merger, dated as of June 1, 2023 (the “Agreement”). At the Effective Date and pursuant to the Agreement, the Company succeeded to the assets, continued the business and assumed the rights and obligations of the Predecessor existing immediately prior to the Reincorporation.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net loss per share and all share data for the three and nine months ended September 30, 2022 have been retroactively adjusted to reflect the 1-for-20 reverse stock split that occurred on April 21, 2023. See Note 6.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain prior year amounts have been reclassified for consistency with the current year’s presentation. These reclassifications had no effect on the reported results of operations.</p> | ||
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>USE OF ESTIMATES IN THE CONDENSED FINANCIAL STATEMENTS</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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 condensed 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 condensed financial statements and disclosures. Actual results could differ from those estimates.</p> | ||
CY2023Q3 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
6200000 | usd |
CY2022Q4 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
6600000 | usd |
CY2022Q4 | us-gaap |
Restricted Cash
RestrictedCash
|
60000 | usd |
CY2023Q3 | us-gaap |
Restricted Cash
RestrictedCash
|
60000 | usd |
CY2023Q3 | us-gaap |
Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
|
500000 | usd |
CY2022Q4 | us-gaap |
Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
|
10000.00 | usd |
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>CONCENTRATIONS OF CREDIT RISK</i></b></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 balances may be uninsured or in deposit accounts that exceed the Federal Deposit Insurance Corporation (“FDIC”) insurance limits.</p> | ||
CY2023Q3 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
800000 | usd |
CY2023Q3 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
200000 | usd |
CY2022Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
600000 | usd |
CY2022Q4 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
1200000 | usd |
CY2023Q3 | us-gaap |
Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
|
200000 | usd |
us-gaap |
Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
|
600000 | usd | |
CY2022Q3 | us-gaap |
Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
|
200000 | usd |
us-gaap |
Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
|
600000 | usd | |
lgmk |
Stock Options To Purchase
StockOptionsToPurchase
|
59728 | shares | |
lgmk |
Stock Options To Purchase
StockOptionsToPurchase
|
22233 | shares | |
us-gaap |
Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
|
500000 | usd | |
us-gaap |
Development Costs
DevelopmentCosts
|
500000 | usd | |
CY2023Q3 | us-gaap |
Development Costs
DevelopmentCosts
|
700000 | usd |
CY2022Q3 | us-gaap |
Development Costs
DevelopmentCosts
|
100000 | usd |
us-gaap |
Development Costs
DevelopmentCosts
|
200000 | usd | |
CY2022Q3 | us-gaap |
Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
|
100000 | usd |
us-gaap |
Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
|
200000 | usd | |
us-gaap |
Costs Incurred Development Costs
CostsIncurredDevelopmentCosts
|
900000 | usd | |
CY2022 | us-gaap |
Costs Incurred Development Costs
CostsIncurredDevelopmentCosts
|
300000 | usd |
CY2023Q3 | us-gaap |
Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
|
238453 | usd |
CY2022Q4 | us-gaap |
Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
|
114030 | usd |
CY2023Q3 | lgmk |
Accrued Merchant Bank Fees
AccruedMerchantBankFees
|
15508 | usd |
CY2022Q4 | lgmk |
Accrued Merchant Bank Fees
AccruedMerchantBankFees
|
15062 | usd |
CY2023Q3 | us-gaap |
Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
|
26333 | usd |
CY2022Q4 | us-gaap |
Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
|
25000 | usd |
CY2023Q3 | lgmk |
Accrued Managements Incentives
AccruedManagementsIncentives
|
453799 | usd |
CY2022Q4 | lgmk |
Accrued Managements Incentives
AccruedManagementsIncentives
|
519800 | usd |
CY2023Q3 | lgmk |
Lease Liability
LeaseLiability
|
65560 | usd |
CY2022Q4 | lgmk |
Lease Liability
LeaseLiability
|
69402 | usd |
CY2022Q4 | us-gaap |
Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
|
48389 | usd |
CY2023Q3 | us-gaap |
Inventory Adjustments
InventoryAdjustments
|
160881 | usd |
CY2022Q4 | us-gaap |
Inventory Adjustments
InventoryAdjustments
|
812970 | usd |
CY2023Q3 | us-gaap |
Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
|
250471 | usd |
CY2022Q4 | us-gaap |
Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
|
135837 | usd |
CY2023Q3 | us-gaap |
Financing Receivable Excluding Accrued Interest Revolving Converted To Term Loan
FinancingReceivableExcludingAccruedInterestRevolvingConvertedToTermLoan
|
1211005 | usd |
CY2022Q4 | us-gaap |
Financing Receivable Excluding Accrued Interest Revolving Converted To Term Loan
FinancingReceivableExcludingAccruedInterestRevolvingConvertedToTermLoan
|
1740490 | usd |
us-gaap |
Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
|
1 | shares | |
CY2023Q3 | us-gaap |
Preferred Stock Convertible Conversion Price
PreferredStockConvertibleConversionPrice
|
0.0001 | |
us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
the Company effected a 1-for-20 reverse split of its outstanding | ||
CY2023Q2 | us-gaap |
Stock Issued During Period Shares Reverse Stock Splits
StockIssuedDuringPeriodSharesReverseStockSplits
|
40228 | shares |
CY2023Q1 | us-gaap |
Partners Capital Account Units Treasury
PartnersCapitalAccountUnitsTreasury
|
3440000 | shares |
CY2023Q1 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
0.02 | |
CY2023Q1 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
3440000 | shares |
CY2023Q1 | lgmk |
Aggregate Share
AggregateShare
|
258000 | shares |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
|
815198 | shares |
CY2023Q1 | lgmk |
Shares Of Common Stock
SharesOfCommonStock
|
61140 | shares |
CY2023Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
2.52 | |
CY2023Q1 | lgmk |
Gross Proceeds
GrossProceeds
|
5200000 | usd |
CY2023Q1 | lgmk |
Percentage Of Underwriting Discounts And Commissions
PercentageOfUnderwritingDiscountsAndCommissions
|
0.07 | pure |
CY2023Q1 | lgmk |
Percentage Of Gross Proceeds
PercentageOfGrossProceeds
|
0.035 | pure |
CY2023Q3 | us-gaap |
Dividends Preferred Stock
DividendsPreferredStock
|
75000 | usd |
us-gaap |
Dividends Preferred Stock
DividendsPreferredStock
|
225000 | usd | |
CY2022Q3 | us-gaap |
Dividends Preferred Stock
DividendsPreferredStock
|
75000 | usd |
us-gaap |
Dividends Preferred Stock
DividendsPreferredStock
|
225000 | usd | |
CY2023Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
154200 | usd |
CY2023Q3 | lgmk |
Payment With Imputed Interest Premium
PaymentWithImputedInterestPremium
|
18482 | usd |
CY2023Q3 | lgmk |
Total Present Value Of Future Minimum Lease Payments
TotalPresentValueOfFutureMinimumLeasePayments
|
135718 | usd |
CY2023Q1 | us-gaap |
Shares Issued
SharesIssued
|
68723 | shares |
CY2023Q3 | us-gaap |
Shares Issued
SharesIssued
|
198753 | shares |
CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
|
1500 | shares |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
|
1500 | shares | |
lgmk |
Unrecognised Compensation Cost
UnrecognisedCompensationCost
|
46000 | usd | |
lgmk |
Unrecognised Compensation Cost
UnrecognisedCompensationCost
|
100000 | usd | |
CY2022Q2 | us-gaap |
Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
|
250 | shares |
CY2022Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P4Y | |
CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
|
67.2 | |
CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
625 | shares |
CY2022Q1 | lgmk |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Strike Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageStrikePrice
|
44 | |
CY2022Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
|
700000 | usd |
CY2022Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
|
1364 | shares |
CY2022Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
|
1106 | shares |
CY2022Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
|
1125 | shares |
CY2022Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Outstanding Stock Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfOutstandingStockMaximum
|
1 | pure |
CY2022Q3 | lgmk |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Strike Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageStrikePrice
|
21.8 | |
CY2022Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
500000 | usd |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1200000 | 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. | ||
us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
300000 | usd | |
lgmk |
Monthly Rent Amount
MonthlyRentAmount
|
6400 | usd | |
lgmk |
Increasing Annual Rent Percentage
IncreasingAnnualRentPercentage
|
0.03 | pure | |
CY2023Q3 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
25400 | usd |
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
76200 | usd | |
CY2022Q3 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
25200 | usd |
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
75800 | usd | |
CY2023Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
19800 | usd |
CY2023Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
80000 | usd |
CY2023Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
54400 | usd |
CY2023Q3 | us-gaap |
Operating Lease Residual Value Of Leased Asset
OperatingLeaseResidualValueOfLeasedAsset
|
128718 | usd |
CY2023Q3 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
65560 | usd |
CY2023Q3 | us-gaap |
Other Long Term Debt Noncurrent
OtherLongTermDebtNoncurrent
|
70158 | usd |
CY2023Q3 | lgmk |
Net Asset Liability Total
NetAssetLiabilityTotal
|
135718 | usd |
CY2023Q3 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P1Y11M1D | |
CY2023Q3 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.13 | pure |
CY2022Q3 | us-gaap |
Other Income
OtherIncome
|
usd | |
us-gaap |
Other Income
OtherIncome
|
usd | ||
CY2022Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
480447 | shares |
lgmk |
Stock Issued During Period Value Stock Splits
StockIssuedDuringPeriodValueStockSplits
|
usd | ||
us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
usd | ||
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
usd | ||
us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
usd | ||
us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
usd | ||
lgmk |
Accrued Preferred Stock Dividends
AccruedPreferredStockDividends
|
usd | ||
lgmk |
Conversion Of Series F Preferred Stock To Common Stock
ConversionOfSeriesFPreferredStockToCommonStock
|
usd | ||
lgmk |
Common Stock Issued To Settle Series F Preferred Stock Dividends
CommonStockIssuedToSettleSeriesFPreferredStockDividends
|
usd | ||
lgmk |
Product Development Costs Included In Accounts Payable
ProductDevelopmentCostsIncludedInAccountsPayable
|
usd | ||
lgmk |
Software Development Costs Included In Accounts Payable
SoftwareDevelopmentCostsIncludedInAccountsPayable
|
usd | ||
lgmk |
Website Development Included In Accounts Payable
WebsiteDevelopmentIncludedInAccountsPayable
|
usd | ||
CY2023Q3 | us-gaap |
Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
|
usd | |
CY2023Q3 | us-gaap |
Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
|
shares | |
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 |