2023 Q1 Form 10-K Financial Statement

#000149315223009090 Filed on March 27, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $2.248M $2.529M $11.45M
YoY Change -30.63% 5.91% 15.76%
Cost Of Revenue $690.7K $986.4K $5.997M
YoY Change -63.74% -14.06% 16.6%
Gross Profit $1.557M $1.543M $5.451M
YoY Change 16.57% 24.38% 14.86%
Gross Profit Margin 69.27% 61.0% 47.62%
Selling, General & Admin $1.904M $1.820M $8.208M
YoY Change -17.35% -9.99% -6.86%
% of Gross Profit 122.31% 118.01% 150.57%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.821K $2.820K $14.64K
YoY Change -28.94% 34.29% 99.14%
% of Gross Profit 0.18% 0.18% 0.27%
Operating Expenses $1.904M $1.820M $9.876M
YoY Change -17.35% -9.99% 12.07%
Operating Profit -$347.4K -$277.8K -$4.424M
YoY Change -64.13% -64.49% 8.82%
Interest Expense $62.39K -$183.0K $336.2K
YoY Change -4687.65% 8958.91% -1525.21%
% of Operating Profit
Other Income/Expense, Net $21.70K $825.5K $514.4K
YoY Change 693.02% -2280.7%
Pretax Income -$325.7K -$1.303M -$3.910M
YoY Change -66.28% 66.13% -26.45%
Income Tax
% Of Pretax Income
Net Earnings -$678.0K -$925.2K -$3.472M
YoY Change -29.81% 17.96% -34.68%
Net Earnings / Revenue -30.16% -36.58% -30.33%
Basic Earnings Per Share -$0.07 -$0.41
Diluted Earnings Per Share -$0.06 -$0.10 -$0.41
COMMON SHARES
Basic Shares Outstanding 10.11M shares 9.319M shares 8.473M shares
Diluted Shares Outstanding 670.7K shares 566.6K shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.194M $1.134M $1.134M
YoY Change -36.17% -63.7% -63.7%
Cash & Equivalents $1.200M $1.100M
Short-Term Investments
Other Short-Term Assets $357.9K $110.9K $110.9K
YoY Change -13.04% -48.74% -48.74%
Inventory $126.3K $119.6K $119.6K
Prepaid Expenses $357.9K $110.9K
Receivables $707.9K $729.0K $729.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.386M $2.093M $2.093M
YoY Change -33.67% -52.15% -52.15%
LONG-TERM ASSETS
Property, Plant & Equipment $62.39K $65.21K $1.117M
YoY Change -95.02% -33.96% -16.13%
Goodwill $0.00
YoY Change
Intangibles $0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets $49.03K $49.03K $49.03K
YoY Change 0.0% -18.47% -18.47%
Total Long-Term Assets $1.652M $1.617M $1.617M
YoY Change -26.37% 16.16% 16.16%
TOTAL ASSETS
Total Short-Term Assets $2.386M $2.093M $2.093M
Total Long-Term Assets $1.652M $1.617M $1.617M
Total Assets $4.038M $3.710M $3.710M
YoY Change -30.86% -35.66% -35.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $515.8K $729.2K $729.2K
YoY Change -43.23% 52.85% 52.85%
Accrued Expenses $303.2K $290.0K $486.9K
YoY Change -41.71% 7.24% 8.44%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $166.7K $166.7K
YoY Change -100.0%
Total Short-Term Liabilities $2.550M $2.147M $2.147M
YoY Change 59.75% 131.83% 131.83%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $333.3K $333.3K
YoY Change -100.0%
Other Long-Term Liabilities $832.5K $887.0K $887.0K
YoY Change -18.62% -17.1% -17.1%
Total Long-Term Liabilities $832.5K $887.0K $1.220M
YoY Change -38.62% -17.1% 14.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.550M $2.147M $2.147M
Total Long-Term Liabilities $832.5K $887.0K $1.220M
Total Liabilities $3.383M $3.367M $2.947M
YoY Change 13.89% 68.7% 47.64%
SHAREHOLDERS EQUITY
Retained Earnings -$19.90M -$19.70M
YoY Change 21.25%
Common Stock $100.00 $99.00
YoY Change 20.73%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $655.1K $763.1K $763.1K
YoY Change
Total Liabilities & Shareholders Equity $4.038M $3.710M $3.710M
YoY Change -30.86% -35.66% -35.66%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$678.0K -$925.2K -$3.472M
YoY Change -29.81% 17.96% -34.68%
Depreciation, Depletion And Amortization $2.821K $2.820K $14.64K
YoY Change -28.94% 34.29% 99.14%
Cash From Operating Activities -$931.5K $1.230M -$1.526M
YoY Change -6.92% -388.26% -40.54%
INVESTING ACTIVITIES
Capital Expenditures $87.07K $115.0K
YoY Change -608.63%
Acquisitions
YoY Change
Other Investing Activities $420.3K $0.00 $23.00K
YoY Change 1727.26%
Cash From Investing Activities $333.2K -$115.0K -$427.8K
YoY Change 1348.68% 408.63% 1793.12%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $130.9K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $681.3K -303.2K -$35.17K
YoY Change -348.52% -83.11%
NET CHANGE
Cash From Operating Activities -$931.5K 1.230M -$1.526M
Cash From Investing Activities $333.2K -115.0K -$427.8K
Cash From Financing Activities $681.3K -303.2K -$35.17K
Net Change In Cash $82.92K 811.9K -$1.989M
YoY Change -106.62% -280.7% -28.89%
FREE CASH FLOW
Cash From Operating Activities -$931.5K $1.230M -$1.526M
Capital Expenditures $87.07K $115.0K
Free Cash Flow -$1.019M $1.115M -$1.526M
YoY Change -375.93% -40.01%

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StockIssuedDuringPeriodValueNewIssues
130918 usd
CY2022 MEDS Stock Issued During Period Value Warrants Exercised For Cash
StockIssuedDuringPeriodValueWarrantsExercisedForCash
875 usd
CY2022 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
79163 usd
CY2022 us-gaap Profit Loss
ProfitLoss
-3909868 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
342867 usd
CY2022 us-gaap Profit Loss
ProfitLoss
-3909868 usd
CY2021 us-gaap Profit Loss
ProfitLoss
-5315883 usd
CY2022 us-gaap Depreciation
Depreciation
14637 usd
CY2021 us-gaap Depreciation
Depreciation
7351 usd
CY2022 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
79163 usd
CY2021 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
187273 usd
CY2022 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
254106 usd
CY2021 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
181163 usd
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-246683 usd
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
615657 usd
CY2021 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
21640 usd
CY2022 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
792500 usd
CY2022 us-gaap Inventory Write Down
InventoryWriteDown
875250 usd
CY2021 us-gaap Inventory Write Down
InventoryWriteDown
376348 usd
CY2021 MEDS Loss On Inventory Investments
LossOnInventoryInvestments
143891 usd
CY2022 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
4100 usd
CY2022 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
181218 usd
CY2021 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
131558 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-496692 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
789587 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-336928 usd
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
103666 usd
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
63303 usd
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-825127 usd
CY2022 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
875250 usd
CY2021 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-1087675 usd
CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-164618 usd
CY2021 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-131153 usd
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
252125 usd
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
220199 usd
CY2022 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-200776 usd
CY2021 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-13819 usd
CY2022 MEDS Increase Decrease In Current Liabilities
IncreaseDecreaseInCurrentLiabilities
67517 usd
CY2022 MEDS Increase Decrease In Warrant Liability
IncreaseDecreaseInWarrantLiability
588533 usd
CY2021 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-10000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1525929 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2566226 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
22596 usd
CY2022 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
23000 usd
CY2022 us-gaap Payments For Software
PaymentsForSoftware
450845 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-427845 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-22596 usd
CY2021 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
225000 usd
CY2022 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
716964 usd
CY2022 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
275000 usd
CY2022 MEDS Proceeds From Sale Of Future Revenue
ProceedsFromSaleOfFutureRevenue
825000 usd
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1821 usd
CY2022 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
875 usd
CY2021 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
15001 usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
130918 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-35171 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-208178 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1988945 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2797000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3122578 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
5919578 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1133633 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3122578 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
336206 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
28337 usd
CY2022 MEDS Insurance Premium Financed
InsurancePremiumFinanced
220354 usd
CY2022 us-gaap Notes Issued1
NotesIssued1
500000 usd
CY2022 MEDS Intangible Asset Contribution From Non Controlling Interest
IntangibleAssetContributionFromNonControllingInterest
792500 usd
CY2019Q4 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
range from one-for-two (1-for-2) to one-for-ten (1-for-10)
CY2020Q1 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
stock split ratio of 1-for-6
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
44100 usd
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
792000 usd
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.41
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.65
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-19700000 usd
CY2022Q4 MEDS Working Capital
WorkingCapital
54000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1100000 usd
CY2022 us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
1500000 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84C_eus-gaap--UseOfEstimates_zSi5M0QwIkVg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_861_ziarkC8JjqO4">Use of Estimates</span></i></b> – In preparing these financial statements, management is required to make estimates and assumptions that effect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amount of revenues and expenses during the reporting periods. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_84B_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zwXUsB70yCF8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span id="xdx_86E_zH9UzklpAKYh" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Reclassification </i></b></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">– Certain prior year amounts have been reclassified to conform to the current year presentation. The reclassification did not result in a change in the net loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1407276 shares
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-246683 usd
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
615657 usd
CY2022 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
247861 usd
CY2021 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
247861 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
0 usd
CY2021 MEDS Loss On Writedown Of Inventory
LossOnWritedownOfInventory
376348 usd
CY2021Q4 us-gaap Goodwill
Goodwill
0 usd
CY2022Q4 us-gaap Goodwill
Goodwill
0 usd
CY2022Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
792000 usd
CY2022 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P15Y
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
1 pure
CY2022Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
2663045 shares
CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
2689969 shares
CY2022Q4 MEDS Number Of Options Outstanding
NumberOfOptionsOutstanding
295623 shares
CY2022 us-gaap Profit Loss
ProfitLoss
-3909868 usd
CY2021 us-gaap Profit Loss
ProfitLoss
-5315883 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3472099 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5315883 usd
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8472946 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8136740 shares
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_849_eus-gaap--ConcentrationRiskCreditRisk_zO2xMndYd6i6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86E_zjEvOgraI604">Concentration of Credit Risks and Major Customers</span></i></b> - Financial instruments that potentially subject the Company to credit risk consist principally of cash and cash equivalents and receivables. The Company places its cash and cash equivalents with financial institutions. Deposits are insured to Federal Deposit Insurance Corp limits. The amount of cash not insured by the FDIC as of December 31, 2022 is $<span id="xdx_90A_eus-gaap--CashUninsuredAmount_iI_pp0p0_c20221231_zJ58bmXMuKg2" title="Cash, uninsured amount">518,419</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the years ended December 31, 2022, no sales to customers represented greater than <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20220101__20221231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--CustomersMember_zHYKp5CCSXpg" title="Concentration risk, percentage">10</span>% of revenue.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
518419 usd
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
14584 shares
CY2022Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
875 usd
CY2021Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
5000 shares
CY2021Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
3.00
CY2021Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
3.00
CY2021Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
5000 shares
CY2021Q3 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
15000 usd
CY2022 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
82751 shares
CY2020Q4 MEDS Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice
1.33
CY2021 MEDS Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Remaining Contractual Term Beginning
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageRemainingContractualTermBeginning
P2Y8M23D
CY2020Q4 MEDS Share Based Compensation Arrangement By Share Based Payment Award Non Options Equity Instrument Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityInstrumentOutstandingIntrinsicValue
352951 usd
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
5000 shares
CY2021 MEDS Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantsInPeriodWeightedAverageExercisePrice
3.00
CY2021 MEDS Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted In Period Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantedInPeriodWeightedAverageRemainingContractualTerm
P1Y5M23D
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures
38216 shares
CY2021 MEDS Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeited In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitedInPeriodWeightedAverageExercisePrice
2.51
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
5000 shares
CY2021 MEDS Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisesInPeriodWeightedAverageExercisePrice
3.00
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
44535 shares
CY2021Q4 MEDS Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice
0.32
CY2022 MEDS Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Remaining Contractual Term Beginning
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageRemainingContractualTermBeginning
P0Y11M12D
CY2021Q4 MEDS Share Based Compensation Arrangement By Share Based Payment Award Non Options Equity Instrument Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityInstrumentOutstandingIntrinsicValue
208078 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
2663045 shares
CY2022 MEDS Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantsInPeriodWeightedAverageExercisePrice
1.50
CY2022 MEDS Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted In Period Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantedInPeriodWeightedAverageRemainingContractualTerm
P4Y9M7D
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures
3027 shares
CY2022 MEDS Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeited In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitedInPeriodWeightedAverageExercisePrice
3.90
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
14584 shares
CY2022 MEDS Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisesInPeriodWeightedAverageExercisePrice
0.06
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
2689969 shares
CY2022Q4 MEDS Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice
1.50
CY2022 MEDS Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Remaining Contractual Term Ending
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageRemainingContractualTermEnding
P4Y8M19D
CY2022Q4 MEDS Share Based Compensation Arrangement By Share Based Payment Award Non Options Equity Instrument Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityInstrumentOutstandingIntrinsicValue
6731 usd
CY2022Q4 MEDS Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityExercisableNumber
2689969 shares
CY2022Q4 MEDS Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice
1.50
CY2022 MEDS Sharebased Compensation Arrangement By Sharebased Payment Award Non Option Equity Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionEquityExercisableWeightedAverageRemainingContractualTerm1
P4Y8M19D
CY2022Q4 MEDS Sharebased Compensation Arrangement By Sharebased Payment Award Non Option Equity Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionEquityExercisableIntrinsicValue1
6731 usd
CY2021 us-gaap Stock Granted During Period Value Sharebased Compensation Gross
StockGrantedDuringPeriodValueSharebasedCompensationGross
168008 usd
CY2020 us-gaap Stock Granted During Period Value Sharebased Compensation Gross
StockGrantedDuringPeriodValueSharebasedCompensationGross
557308 usd
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.0025 pure
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2022 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
79163 usd
CY2021 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
187273 usd
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
29729 usd
CY2022 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P5Y
CY2017Q4 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
4030755 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
2347266 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
4030755 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
2347266 usd
CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
17105445 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1069965 usd
CY2022Q4 MEDS Lease Obligation Current
LeaseObligationCurrent
195475 usd
CY2022Q4 MEDS Operating Lease Liabilities Noncurrent
OperatingLeaseLiabilitiesNoncurrent
874490 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
13943 usd
CY2021Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
630000 usd
CY2022 MEDS Attorney Fees
AttorneyFees
630000 usd
CY2021Q3 MEDS Bad Debt Expenses
BadDebtExpenses
630000 usd
CY2022Q2 MEDS Attorney Fees
AttorneyFees
743000 usd
CY2022 MEDS Bad Debt Expenses
BadDebtExpenses
248000 usd
CY2022 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<p id="xdx_80C_eus-gaap--LossContingencyDisclosures_zRTbgjzeMQE9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="L1_001"/>NOTE 10 – <span id="xdx_829_z7X8PagAwtk5">CONTINGENCIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Studebaker Defense Group, LLC</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In July 2020, the Company’s wholly-owned subsidiary, Integra Pharma Solutions, LLC (“Integra”), entered into an agreement with Studebaker Defense Group, LLC (“Studebaker”) wherein Integra would pay Studebaker a down payment of $<span id="xdx_908_ecustom--DownPayment_c20200701__20200731__dei--LegalEntityAxis__custom--IntegraMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--StudebakerDefenseGroupLLCMember_zpUit57jH351" title="Down payment">500,000</span> and Studebaker would deliver <span id="xdx_90D_ecustom--NumberOfNitrileGlovesDelivered_uInteger_c20200813__20200814__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--StudebakerDefenseGroupLLCMember__dei--LegalEntityAxis__custom--IntegraMember_zYSCcVLOXjOl" title="Number of nitrile gloves delivered">180,000</span> boxes of nitrile gloves by August 14, 2020. Integra wired the $<span id="xdx_90A_eus-gaap--LossContingencyDamagesSoughtValue_c20200701__20200731__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--StudebakerDefenseGroupLLCMember__dei--LegalEntityAxis__custom--IntegraMember_z97KZnjOXsDj" title="Loss contingency, damages sought, value">500,000</span> to Studebaker, but to date, Studebaker has not delivered the gloves or provided a refund of the deposit. In December 2020, we filed a complaint against Studebaker in Florida state court, Case No. 20-CA-010118 in the Circuit Court for the Thirteenth Judicial Circuit in Hillsborough County, for among other things, breach of contract. Studebaker did not answer the complaint, nor did counsel for Studebaker file an appearance. Accordingly, in February 2021, the Company filed for a default judgment; however, on March 22, 2021, counsel for Studebaker filed an appearance and shortly thereafter filed a motion to vacate the default judgment and dismiss the complaint on jurisdictional grounds. The court granted Studebaker’s motion to set aside the default judgment but denied the motion to dismiss. The Company has filed several pretrial motions; the next step in the litigation after the pre-trial motions are resolved will be a motion for summary judgment. The Company believes it will prevail on the merits but cannot determine the timing of the judgment or the amount ultimately collected. At June 30, 2021, the $<span id="xdx_906_ecustom--LossOnInventoryInvestment_c20210101__20210630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--StudebakerDefenseGroupLLCMember__dei--LegalEntityAxis__custom--IntegraMember_zbAKDMFI2ab6" title="Loss on inventory investment">500,000</span> was recorded as Loss on Inventory Investment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><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 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sandwave Group Dsn Bhd and Crecom Burj Group SDN BHD</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In August 2020, Integra, entered into an agreement with Sandwave Group Dsn Bhd (“Sandwave”), wherein Integra would pay Sandwave a down payment of $<span id="xdx_909_ecustom--DownPayment_c20200801__20200831__dei--LegalEntityAxis__custom--IntegraMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SandwaveGroupDsnBhdMember_zP5z4Dwz6TU9" title="Down payment">581,250</span> and Sandwave’s supplier, Crecom Burj Group SDN BHD (“Crecom”), would deliver <span id="xdx_905_ecustom--NumberOfNitrileGlovesDelivered_uInteger_c20200801__20200831__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SandwaveGroupDsnBhdMember__dei--LegalEntityAxis__custom--IntegraMember_zAzJEeNIsEPg" title="Number of nitrile gloves delivered">150,000</span> boxes of nitrile gloves within 45 days. Integra wired the $<span id="xdx_902_eus-gaap--LossContingencyDamagesSoughtValue_c20200801__20200831__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SandwaveGroupDsnBhdMember__dei--LegalEntityAxis__custom--IntegraMember_zHgNcNuf0jIe" title="Loss contingency damages sought value">581,250</span> to Sandwave, which in turn wired the purchase price to Crecom, which Crecom accepted; however, to date, Crecom has not delivered the nitrile gloves. Integra demanded return of its $<span id="xdx_904_eus-gaap--LossContingencyDamagesSoughtValue_c20200801__20200831__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CrecomBurjGroupSdnBhdMember__dei--LegalEntityAxis__custom--IntegraMember_zVIuBsawdGMd" title="Loss contingency damages sought value">581,250</span> and Crecom has acknowledged that Integra is entitled to a refund, but to date Crecom has failed to return Integra’s money. In February 2021, Integra filed a complaint against Crecom in Malaysia: Case No. WA-22NCC-55-02/2021 in the High Court of Malaysia at Kuala Lumpur in the Federal Territory, Malaysia for the Malaysian equivalent of breach of contract. Crecom filed an appearance on March 1, 2021. In April 2021, an Application for Summary Judgment was filed with the court, and on May 25, 2021, the Court extracted the sealed application, and a copy thereof was served on Crecom’s attorneys and Crecom, 14 days later, filed an Affidavit in Reply with the court alleging that there are issues to be tried and that this case must go to a full trial. On June 28, 2021, the court directed both parties to file their written submissions/arguments in relation to the application for summary judgment on or before July 12, 2021, and scheduled a hearing thereon for August 26, 2021. At the final hearing on October 18, 2021, the ruling for the summary judgment was denied. On September 1, 2022, Crecom informed the court that Crecom had been liquidated pursuant to Malaysian insolvency laws and the court proceedings were stayed. ON September 7, 2022, Integra received written confirmation from Crecom counsel and a copy of the relevant Winding Up Order. Accordingly, the complaint was dismissed. At June 30, 2021, the $<span id="xdx_90F_ecustom--LossOnInventoryInvestment_c20210101__20210630__dei--LegalEntityAxis__custom--IntegraMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SandwaveGroupDsnBhdMember_zhhAfrWIiEo7" title="Loss on inventory investment">581,250</span> was recorded as Loss on Inventory Investment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Jain, et al., v. Memantine, et al.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In January 2020, we became aware of a complaint filed by Jitendra Jain, Manish Arora, Scariy Kumaramangalam, Harsh Datta and Balvant Arora (collectively, plaintiffs), against our wholly-owned subsidiary, Trxade, Inc. and our Chief Executive Officer, Suren Ajjarapu as well as certain unrelated persons, Annapurna Gundlapalli, Gajan Mahendiran and Nexgen Memantine (collectively, defendants), in the Circuit Court of Madison County, Alabama (Case:47-CV-2019-902216.00). The complaint alleged causes of actions against the defendants including fraud in the inducement, relating to certain investments alleged to have been made by plaintiffs in Nexgen Memantine, breach of fiduciary duty, conversion and voidable transactions. The complaint related to certain investments alleged made by the plaintiffs in Nexgen Memantine and certain alleged fraudulent transfers of assets and funds alleged to have been taken by the defendants which are unrelated to the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 14, 2021, Plaintiffs filed a second amended complaint against the defendants. The second amended complaint alleges causes of action against the defendants including securities fraud, breach of fiduciary duty, violation of the Florida RICO Act, and breach of contract. The operative complaint relates to certain investments alleged to have been made by the plaintiffs in Nexgen Memantine and certain alleged transfers of assets and funds alleged to have been taken by the defendants which are unrelated to the Company. The amended complaint seeks injunctive relief, $<span id="xdx_90E_eus-gaap--LossContingencyDamagesPaidValue_c20210501__20210514_zEIpKcsEjil8" title="Compensatory amount value">425,000</span> in compensatory damages, treble damages, punitive damages, and fees and costs.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In February 2022, a settlement as to Suren Ajjarapu, Annapurna Gundlapalli and the Company was reached and signed. This settlement involved no admission of liability and a full and complete release of all actions after a lump-sum payment of $<span id="xdx_90E_eus-gaap--LitigationSettlementAmountAwardedToOtherParty_c20220201__20220228_zfBFz38nR8P" title="Settlement payment amount">225,000</span> was made. Because the complaint purports to be a derivative action, court approval was required, which approval was received on March 14, 2022. As a result of the settlement, the Plaintiff’s dismissed their lawsuit with prejudice.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2021Q2 us-gaap Loss Contingency Damages Paid Value
LossContingencyDamagesPaidValue
425000 usd
CY2022Q1 us-gaap Litigation Settlement Amount Awarded To Other Party
LitigationSettlementAmountAwardedToOtherParty
225000 usd
CY2022Q4 MEDS Increase In Right Of Use Asset
IncreaseInRightOfUseAsset
977220 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
293683 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
302494 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
311569 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
320916 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
105531 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1334193 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
264228 usd
CY2022 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
181218 usd
CY2021 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
131558 usd
CY2022 MEDS Payment For Operating Lease Liabilities
PaymentForOperatingLeaseLiabilities
164618 usd
CY2021 MEDS Payment For Operating Lease Liabilities
PaymentForOperatingLeaseLiabilities
131153 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
11448265 usd
CY2022 us-gaap Gross Profit
GrossProfit
5451216 usd
CY2022Q4 us-gaap Assets
Assets
3710026 usd
CY2022 us-gaap Profit Loss
ProfitLoss
-3909868 usd
CY2022 us-gaap Cost Of Revenue
CostOfRevenue
5997049 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
9889433 usd
CY2021 us-gaap Gross Profit
GrossProfit
4745965 usd
CY2021Q4 us-gaap Assets
Assets
5766164 usd
CY2021 us-gaap Profit Loss
ProfitLoss
-5315883 usd
CY2021 us-gaap Cost Of Revenue
CostOfRevenue
5143468 usd

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