2023 Q4 Form 10-Q Financial Statement

#000121390023085106 Filed on November 09, 2023

View on sec.gov

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

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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
162380 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire In Process Research And Development
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us-gaap Payments To Acquire In Process Research And Development
PaymentsToAcquireInProcessResearchAndDevelopment
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us-gaap Payments To Acquire Software
PaymentsToAcquireSoftware
400895 usd
us-gaap Payments To Acquire Software
PaymentsToAcquireSoftware
233332 usd
us-gaap Payments To Develop Software
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us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
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us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Payments Of Financing Costs
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us-gaap Proceeds From Warrant Exercises
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us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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225000 usd
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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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
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9388492 usd
lgmk Accrued Preferred Stock Dividends
AccruedPreferredStockDividends
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lgmk Conversion Of Series F Preferred Stock To Common Stock
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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
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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
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<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
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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
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3440000 shares
CY2023Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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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
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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

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