Scienture (SCNX) 10-Q 26 Apr 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2021	Apr. 22, 2021
Cover [Abstract]
Entity Registrant Name	TRXADE GROUP, INC.
Entity Central Index Key	0001382574
Document Type	10-Q
Document Period End Date	Mar. 31, 2021
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		8,125,362
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2021

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Current Assets
Cash	$ 5,209,280	$ 5,919,578
Accounts Receivable, net	1,936,850	805,043
Inventory	470,122	1,257,754
Prepaid Assets	457,738	151,248
Other Receivables	1,081,250	1,087,675
Total Current Assets	9,155,240	9,221,298
Property Plant and Equipment, Net	160,647	162,397
Other Assets
Deposits	21,636	21,636
Right of use leased assets	355,693	387,371
Total Assets	9,693,216	9,792,702
Current Liabilities
Accounts Payable	366,471	256,829
Accrued Liabilities	519,179	219,256
Current Portion Lease Liabilities	117,030	131,153
Customer Deposits	10,000	10,000
Notes Payables - Related Party	225,000	225,000
Total Current Liabilities	1,237,680	842,238
Long Term Liabilities
Other Long-Term Liabilities - Leases	253,912	271,306
Total Liabilities	1,491,592	1,113,544
Stockholders' Equity
Series A Preferred Stock, $0.00001 par value; 10,000,000 shares authorized; none issued and outstanding as of March 31, 2021 and December 31, 2020
Common Stock, $0.00001 par value; 100,000,000 shares authorized; 8,093,199 shares issued and outstanding as of March 31, 2021 and December 31, 2020	81	81
Additional Paid-in Capital	19,784,616	19,610,631
Accumulated Deficit	(11,583,073)	(10,931,554)
Total Stockholders' Equity	8,201,624	8,679,158
Total Liabilities and Stockholders' Equity	$ 9,693,216	$ 9,792,702

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Series A Preferred stock, par value	$ 0.00001	$ 0.00001
Series A Preferred stock, shares authorized	10,000,000	10,000,000
Series A Preferred stock, shares issued
Series A Preferred stock, shares outstanding
Common stock, par value	$ 0.00001	$ 0.00001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	8,093,199	8,093,199
Common stock, shares outstanding	8,093,199	8,093,199

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Revenues	$ 3,053,235	$ 2,203,320
Cost of Sales	1,669,924	563,184
Gross Profit	1,383,311	1,640,136
Operating Expenses
General and Administrative	2,027,566	1,451,909
Operating Income (Loss)	(644,255)	188,227
Interest, net	(7,264)	(7,924)
Net Income (Loss)	$ (651,519)	$ 180,303
Net Income per Common Share - Basic:	$ (0.08)	$ 0.03
Net Income per Common Share - Diluted:	$ (0.08)	$ 0.02
Weighted average Common Shares Outstanding Basic	8,093,199	6,971,427
Weighted average Common Shares Outstanding Diluted	8,093,199	7,423,669

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total
Balance at Dec. 31, 2019		$ 65	$ 12,535,655	$ (8,395,503)	$ 4,140,217
Balance, shares at Dec. 31, 2019		6,539,415
Options Expense			61,997		61,997
Common Stock issued from offering		$ 10	5,994,414		5,994,424
Common Stock issued from offering, shares		922,219
Fractional shares issued due to reverse split
Fractional shares issued due to reverse split, shares		40
Stock Issuance Costs			(820,586)		(820,586)
Options Exercised for Cash			501		501
Options Exercised for Cash, shares		167
Warrants Exercised for Cash			1,352		1,352
Warrants Exercised for Cash, shares		22,529
Warrants Expense			79,089		79,089
Net Income (Loss)				180,303	180,303
Balance at Mar. 31, 2020		$ 75	17,852,422	(8,215,200)	9,637,297
Balance, shares at Mar. 31, 2020		7,484,370
Balance at Dec. 31, 2020		$ 81	19,610,631	(10,931,554)	8,679,158
Balance, shares at Dec. 31, 2020		8,093,199
Common Stock issued for Services			98,247		98,247
Common Stock issued for Services, shares
Options Expense			75,738		75,738
Net Income (Loss)				(651,519)	(651,519)
Balance at Mar. 31, 2021		$ 81	$ 19,784,616	$ (11,583,073)	$ 8,201,624
Balance, shares at Mar. 31, 2021		8,093,199

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating Activities:
Net Income (Loss)	$ (651,519)	$ 180,303
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation Expense	1,750	1,250
Options expense	75,738	61,997
Warrant Expense		79,089
Common Stock Issued for Services	98,247
Bad Debt Expense		9,000
Amortization of right of use asset	31,678	23,635
Changes in operating assets and liabilities:
Accounts Receivable	(1,131,807)	(94,047)
Prepaid Assets and other Current Assets	(306,490)	(184,923)
Inventory	787,632	(311,640)
Deposits for Inventory Purchases		(580,800)
Other Receivables	6,425
Lease Liability	(31,517)	(20,974)
Accounts Payable	109,642	(14,376)
Customer Deposits		305,972
Accrued Liabilities and Other Liabilities	299,923	134,708
Net Cash used in operating activities	(710,298)	(410,806)
Investing Activities:
Purchase of Fixed Assets		(23,505)
Net Cash used in Investing activities		(23,505)
Financing Activities:
Stock Issuance Costs		(732,355)
Proceeds from exercise of Warrants		1,352
Proceeds from exercise of Stock Options		501
Proceeds from Issuance of Common Stock		5,994,424
Net Cash provided by financing activities		5,263,922
Net increase (decrease) in Cash	(710,298)	4,829,611
Cash at Beginning of the Period	5,919,578	2,871,694
Cash at End of the Period	5,209,280	7,701,305
Supplemental Cash Flow Information
Cash Paid for Interest	1,639	2,348
Cash Paid for Income Taxes

Organization and Basis of Prese

Organization and Basis of Presentation	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	NOTE 1 – ORGANIZATION AND BASIS OF PRESENTATION Trxade Group, Inc. (“ we our Trxade Company Trxade, Inc., operates a web-based market platform that enables commerce among healthcare buyers and sellers of pharmaceuticals, accessories, and services. Integra Pharma Solutions, LLC, is a licensed pharmaceutical wholesaler and sells brand, generic and non-drug products. Community Specialty Pharmacy, LLC, is an accredited independent retail pharmacy with a focus on specialty medications and a community-based model offering home delivery services to patients. Alliance Pharma Solutions, LLC, has developed a same-day pharmaceutical delivery software – Delivmeds.com, and invested in SyncHealth MSO, LLC, a managed services organization during January 2019, which investment was divested in February 2020. Bonum Health, LLC was formed to hold certain telehealth assets acquired in October 2019. The “ Bonum Health Hub MedCheks, LLC was formed in January 2021 and is a patient-centered, digital, precision healthcare platform that lets patients consolidate and control their health data via a digital Health Passport. The digital Health Passport allows users to share their health profile, tests and vaccinations simply and safely. Secured in a blockchain, the Health Passport includes health and vaccination status verification via a QR code (a two-dimensional machine-readable optical label), which is available for travel, entry into stadiums, concert venues, events, offices, industrial plants, warehouses, and other physical access points. MedCheks Health Passport stores all of a user’s health records securely in one place. Basis of Presentation In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements that would substantially duplicate the disclosures contained in the audited financial statements for the year ended December 31, 2020 as reported in the Company’s Annual Report on Form 10-K have been omitted. Income (loss) Per Common Share The following table sets forth the computation of basic and diluted Income (Loss) per Share: For three months ended March 31, 2021 2020 Numerator: Net Income (loss) $ (651,519 ) $ 180,303 Numerator for basic and diluted EPS - income available to common Shareholders (651,519 ) $ 180,303 Denominator: Denominator for basic EPS – Weighted average shares 8,093,199 6,971,427 Dilutive Effect of Common Stock Equivalent - 452,242 Denominator for diluted EPS – adjusted Weighted average shares and assumed Conversions 8,093,199 7,423,669 Basic income (loss) per common share $ (0.08 ) $ 0.03 Diluted income (loss) per common share $ (0.08 ) $ 0.02

Short Term Debt - Related Parti

Short Term Debt - Related Parties	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Short Term Debt - Related Parties	NOTE 2– SHORT TERM DEBT – RELATED PARTIES In October 2018, in connection with the acquisition of Community Specialty Pharmacy, LLC, a $300,000 promissory note was issued to Nikul Panchal, a non-executive officer of the Company, accruing simple interest at the rate of 10% per annum, payable annually, and having a maturity date in October 15, 2021. In October 2019, $75,000 of the note was converted into 25,000 common shares at $3.00 per share, leaving $225,000 of principal owed under the promissory note. There was a loss recognized on this conversion of $76,500. At March 31, 2021 and December 31, 2020, total related party debt was $225,000.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Stockholders' Equity	NOTE 3 – STOCKHOLDERS’ EQUITY 2020 Equity Compensation Awards On April 14, 2020, the Compensation Committee approved the grant of (a) 5,000 shares of restricted common stock to the Company’s legal counsel; and (b) 12,500 shares of restricted common stock to Howard A. Doss, the Company’s Chief Financial Officer, which shares vest at the rate of ¼ th Independent Director Compensation Plan On April 14, 2020, the three independent members of the Board of Directors (Mr. Donald G. Fell, Dr. Pamela Tenaerts, and Mr. Michael L. Peterson), were each awarded 8,987 shares of restricted stock, which vest at the rate of ¼ th

Warrants

Warrants	3 Months Ended
	Mar. 31, 2021
Warrants and Rights Note Disclosure [Abstract]
Warrants	NOTE 4 – WARRANTS For the three-month period ended March 31, 2021, no warrants were granted and none expired. The Company uses the Black-Scholes pricing model to estimate the fair value of stock-based awards on the date of the grant. The compensation cost related to the warrants granted was $0 and $79,089 for the three months ended March 31, 2021 and 2020, respectively. The Company’s outstanding and exercisable warrants as of March 31, 2021 are presented below: Number Outstanding Weighted Average Exercise Price Contractual Life in Years Intrinsic Value Warrants Outstanding as of December 31, 2020 82,751 $ 1.33 2.73 $ 352,951 Warrants granted - $ - - - Warrants expired or forfeited - $ - - - Warrants exercised - $ - - - Warrants Outstanding as of March 31, 2021 82,751 $ 1.33 2.48 $ 349,157 Warrants Exercisable as of March 31, 2021 60,223 $ 1.81 1.34 $ 232,462

Options

Options	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Options	NOTE 5 – OPTIONS The Company maintains stock option plans under which certain employees are awarded option grants based on a combination of performance and tenure. The stock option plans provide for the grant of up to 2,333,333 shares, and the Company’s 2019 Amended and Restated 2019 Equity Incentive Plan provides for automatic increases in the number of shares available under such plan (currently 2,000,000 shares) on April 1 st Date of Determination For the three-month period ended March 31, 2021, options to purchase 20,000 shares were granted, none were forfeited and none expired. The options granted during the period vest over a four-year period, the exercise price was $6.55 per share and the options have a term of 5 years. The Company uses the Black-Scholes option pricing model to estimate the fair value of stock-based awards on the date of the grant. The following table summarizes the assumptions used to estimate the fair value of the stock options granted during the quarter ended March 31, 2021: Expected dividend yield 0 % Weighted-average expected volatility 106-215 % Weighted-average risk-free interest rate 0.25 % Expected life of options 5 years Total compensation cost related to stock options granted was $75,738 and $61,997 for the three months ended March 31, 2021 and 2020, respectively. The following table represents stock option activity for the three-month period ended March 31, 2021: Number Outstanding Weighted Average Exercise Price Contractual Life in Years Intrinsic Value Options Outstanding as of December 31, 2020 425,817 $ 4.44 5.33 $ 597,322 Options Exercisable as of December 31, 2020 282,167 $ 4.52 4.56 $ 384,226 Options granted 20,000 $ 6.55 4.85 - Options forfeited - $ - - - Options expired - $ - - - Options exercised - $ - - - Options Outstanding as of March 31, 2021 445,817 $ 4.53 5.07 $ 586,080 Options Exercisable as of March 31, 2021 304,867 $ 4.44 4.52 $ 421,737

Other Receivables

Other Receivables	3 Months Ended
	Mar. 31, 2021
Receivables [Abstract]
Other Receivables	NOTE 6 – OTHER RECEIVABLES In July 2020, the Company’s wholly-owned subsidiary, Integra Pharma Solutions, Inc. (“Integra”), entered into an agreement with Studebaker Defense Group, LLC (“Studebaker”) wherein Integra would pay Studebaker a down payment of $500,000 and Studebaker would deliver 180,000 boxes of nitrile gloves by August 14, 2020. Integra wired the $500,000 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. A hearing on our motion for a default judgment has been set for April 27, 2021. The Company anticipates that irrespective of the outcome of such hearing on April 27, 2021, the Company will prevail on the merits; and believes Studebaker has the ability to satisfy a judgment. In August 2020, Integra, entered into an agreement with Sandwave Group Dsn Bhd (“Sandwave”), wherein Integra would pay Sandwave a down payment of $581,250 and Sandwave’s supplier, Crecom Burj Group SDN BHD (“Crecom”), would deliver 150,000 boxes of nitrile gloves within 45 days. Integra wired the $581,250 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 $581,250 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 Judgement was filed with the court, and on May 25, 2021, the Court will extract the sealed application and a copy thereof will be served on Crecom’s attorneys and Crecom will have two weeks to file an Affidavit in Reply with the court to show that there are issues to be tried and that this case must go to a full trial. We will be given 14 days thereafter to reply to that Affidavit in Reply (if there is a need to do so). In this case, we will request for a longer time to reply, given the distance involved (the court has taken note of this fact). Also at the May 25, 2021 hearing, the court will give directions on the timelines for both parties to file their written submissions/arguments in relation to the application for summary judgment If a judgment is entered against Crecom, the process of executing the judgment, and ultimately attempting to collect on the judgment, can take three to six months. The Company believes that it will prevail in the lawsuit filed; and believes Crecom has the ability to satisfy a judgment, and the steps to enforce a judgment in Malaysia, if any, may be cumbersome, time consuming or costly.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Contingencies	NOTE 7 – CONTINGENCIES 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. The complaint sought $425,000 in compensatory damages and $1,275,000 in punitive damages. The Company and Mr. Ajjarapu denied in their entirety the plaintiffs’ allegations and filed a motion to dismiss the plaintiffs’ claims against the Company and Mr. Ajjarapu, which motion was granted in May 2020, due to the plaintiffs not being able to establish personal jurisdiction over the defendants, which motion was successful as to all defendants. The Company and Mr. Ajjarapu further refute any connections for the purpose of the suit to the other named defendants. To the Company’s and Mr. Ajjarapu’s knowledge, the complaint had no merit whatsoever. The final date for the plaintiffs to appeal the ruling to dismiss the lawsuit passed in August 2020, and there was no appeal. As such, the ruling is final. However, in September 2020, the plaintiffs filed a similar complaint (alleging substantially similar facts) in the United States District Court for the Middle District of Florida, Tampa Division (Case 8:20-cv-02263), against the same defendants but adding Westminster Pharmaceuticals, LLC, our former wholly-owned subsidiary (“ Westminster

Leases

Leases	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Leases	NOTE 8 – LEASES The Company elected the practical expedient under Accounting Standards Update (ASU) 2018-11 “ Leases: Targeted Improvements Lease 1 Lease 2 Initial Lease Term December 2017 to December 2021 November 2018 to November 2023 Renewal Term January 2021 to December 2024 November 2023 to November 2028 Initial Recognition of right-of-use assets at January 1, 2019 $ 534,140 $ 313,301 Incremental Borrowing Rate 10 % 10 % The Company decided not to renew the corporate office lease (Lease 1) on January 2021; however, the parties subsequently negotiated a one-year lease at the same location. The Company determined that the decision to not renew Lease 1 changed the corresponding lease term which required remeasurement of the lease liability resulting in the reduction of the right-of-use asset and the associated lease liability by $384,110. The reassessment of the lease term did not change the existing classification and the lease is still classified as an operating lease. The table below reconciles the fixed component of the undiscounted cash flows for each of the first five years and the total remaining years to the operating lease liabilities recorded in the Consolidated Balance Sheet as of March 31, 2021. Amounts due within twelve months of March 31 2021 $ 146,218 2022 49,452 2023 50,949 2024 52,478 2025 54,052 Thereafter 147,046 Total minimum lease payments 500,195 Less: effect of discounting (129,253 ) Present value of future minimum lease payments 370,942 Less: current obligations under leases 117,030 Long-term lease obligations $ 253,912 For the three months ended March 31, 2021 and 2020, amortization of Right of Use Assets was $31,678 and $23,635, respectively. For the three months ended March 31, 2021 and 2020, amortization of Lease Liability was $31,517 and $20,974, respectively.

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segment Reporting	NOTE 9 – SEGMENT REPORTING The Company classifies its business interests into reportable segments which are Trxade, Inc., Community Specialty Pharmacy, LLC, Integra Pharma, LLC and Other. Operating segments are defined as the components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision makers in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision makers direct the allocation of resources to operating segments based on the profitability, cash flows, and growth opportunities of each respective segment. Three Months Ended March 31, 2021 Trxade, Inc. Community Specialty Pharmacy, LLC Integra Pharma, LLC Other Total Revenue $ 1,236,650 $ 397,896 $ 1,402,586 $ 16,103 $ 3,053,235 Gross Profit $ 1,236,650 $ 36,089 $ 94,563 $ 16,009 $ 1,383,311 Segment Assets $ 2,053,494 $ (405,348 ) $ 3,111,536 $ 4,933,534 $ 9,693,216 Segment Profit (Loss) $ 512,293 $ (31,251 ) $ (32,446 ) $ (1,100,115 ) $ (651,519 ) Three Months Ended March 31, 2020 Trxade, Inc. Community Specialty Pharmacy, LLC Integra Pharma, LLC Other Total Revenue $ 1,519,907 $ 432,929 $ 245,016 $ 5,468 $ 2,203,320 Gross Profit $ 1,519,907 $ 36,108 $ 78,653 $ 5,468 $ 1,640,136 Segment Assets $ 2,055,429 $ 280,514 $ 1,817,170 $ 7,320,791 $ 11,473,904 Segment Profit (Loss) $ 972,993 $ (41,245 ) $ (28,883 ) $ (722,562 ) $ 180,303

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	NOTE 10 – SUBSEQUENT EVENTS 2021 Equity Compensation Awards On April 15, 2021, the Board of Directors, with the recommendation of the Compensation Committee, approved the grant of options to purchase an aggregate of 17,500 shares of our common stock to certain employees of the Company, in consideration for services to be rendered by such individuals through 2025. The options vest at the rate of ¼ th Plan In connection with and pursuant to the independent director compensation policy previously adopted by the Board of Directors, on April 15, 2021, the three independent members of the Board of Directors (Mr. Donald G. Fell, Dr. Pamela Tenaerts, and Mr. Michael L. Peterson), were each awarded 10,721 shares of restricted stock, valued at $55,000 ($5.13 per share) based on the closing sales price of the Company’s common stock on the Nasdaq Capital Market on the effective date of the grant, April 1, 2021, which vest at the rate of ¼ th

Organization and Basis of Pre_2

Organization and Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Schedule of Basic and Dilutive Income (Loss) Per Share	The following table sets forth the computation of basic and diluted Income (Loss) per Share: For three months ended March 31, 2021 2020 Numerator: Net Income (loss) $ (651,519 ) $ 180,303 Numerator for basic and diluted EPS - income available to common Shareholders (651,519 ) $ 180,303 Denominator: Denominator for basic EPS – Weighted average shares 8,093,199 6,971,427 Dilutive Effect of Common Stock Equivalent - 452,242 Denominator for diluted EPS – adjusted Weighted average shares and assumed Conversions 8,093,199 7,423,669 Basic income (loss) per common share $ (0.08 ) $ 0.03 Diluted income (loss) per common share $ (0.08 ) $ 0.02

Warrants (Tables)

Warrants (Tables)	3 Months Ended
	Mar. 31, 2021
Warrants and Rights Note Disclosure [Abstract]
Schedule of Outstanding and Exercisable Warrants	The Company’s outstanding and exercisable warrants as of March 31, 2021 are presented below: Number Outstanding Weighted Average Exercise Price Contractual Life in Years Intrinsic Value Warrants Outstanding as of December 31, 2020 82,751 $ 1.33 2.73 $ 352,951 Warrants granted - $ - - - Warrants expired or forfeited - $ - - - Warrants exercised - $ - - - Warrants Outstanding as of March 31, 2021 82,751 $ 1.33 2.48 $ 349,157 Warrants Exercisable as of March 31, 2021 60,223 $ 1.81 1.34 $ 232,462

Options (Tables)

Options (Tables)	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Estimate Fair Value of Stock Options	The following table summarizes the assumptions used to estimate the fair value of the stock options granted during the quarter ended March 31, 2021: Expected dividend yield 0 % Weighted-average expected volatility 106-215 % Weighted-average risk-free interest rate 0.25 % Expected life of options 5 years
Schedule of Stock Option Activity	The following table represents stock option activity for the three-month period ended March 31, 2021: Number Outstanding Weighted Average Exercise Price Contractual Life in Years Intrinsic Value Options Outstanding as of December 31, 2020 425,817 $ 4.44 5.33 $ 597,322 Options Exercisable as of December 31, 2020 282,167 $ 4.52 4.56 $ 384,226 Options granted 20,000 $ 6.55 4.85 - Options forfeited - $ - - - Options expired - $ - - - Options exercised - $ - - - Options Outstanding as of March 31, 2021 445,817 $ 4.53 5.07 $ 586,080 Options Exercisable as of March 31, 2021 304,867 $ 4.44 4.52 $ 421,737

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Schedule of Operating Leases	The following table outlines the details: Lease 1 Lease 2 Initial Lease Term December 2017 to December 2021 November 2018 to November 2023 Renewal Term January 2021 to December 2024 November 2023 to November 2028 Initial Recognition of right-of-use assets at January 1, 2019 $ 534,140 $ 313,301 Incremental Borrowing Rate 10 % 10 %
Schedule of Future Minimum Payments for Operating Lease Liabilities	The table below reconciles the fixed component of the undiscounted cash flows for each of the first five years and the total remaining years to the operating lease liabilities recorded in the Consolidated Balance Sheet as of March 31, 2021. Amounts due within twelve months of March 31 2021 $ 146,218 2022 49,452 2023 50,949 2024 52,478 2025 54,052 Thereafter 147,046 Total minimum lease payments 500,195 Less: effect of discounting (129,253 ) Present value of future minimum lease payments 370,942 Less: current obligations under leases 117,030 Long-term lease obligations $ 253,912

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Schedule of Business Interests Into Reportable Segments	The Company’s chief operating decision makers direct the allocation of resources to operating segments based on the profitability, cash flows, and growth opportunities of each respective segment. Three Months Ended March 31, 2021 Trxade, Inc. Community Specialty Pharmacy, LLC Integra Pharma, LLC Other Total Revenue $ 1,236,650 $ 397,896 $ 1,402,586 $ 16,103 $ 3,053,235 Gross Profit $ 1,236,650 $ 36,089 $ 94,563 $ 16,009 $ 1,383,311 Segment Assets $ 2,053,494 $ (405,348 ) $ 3,111,536 $ 4,933,534 $ 9,693,216 Segment Profit (Loss) $ 512,293 $ (31,251 ) $ (32,446 ) $ (1,100,115 ) $ (651,519 ) Three Months Ended March 31, 2020 Trxade, Inc. Community Specialty Pharmacy, LLC Integra Pharma, LLC Other Total Revenue $ 1,519,907 $ 432,929 $ 245,016 $ 5,468 $ 2,203,320 Gross Profit $ 1,519,907 $ 36,108 $ 78,653 $ 5,468 $ 1,640,136 Segment Assets $ 2,055,429 $ 280,514 $ 1,817,170 $ 7,320,791 $ 11,473,904 Segment Profit (Loss) $ 972,993 $ (41,245 ) $ (28,883 ) $ (722,562 ) $ 180,303

Organization and Basis of Pre_3

Organization and Basis of Presentation (Details Narrative)	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Ownership percentage	100.00%

Organization and Basis of Pre_4

Organization and Basis of Presentation - Schedule of Basic and Dilutive Income (Loss) Per Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Accounting Policies [Abstract]
Net Income (loss)	$ (651,519)	$ 180,303
Numerator for basic and diluted EPS - income available to common Shareholders	$ (651,519)	$ 180,303
Denominator for basic EPS - Weighted average shares	8,093,199	6,971,427
Dilutive Effect of Common Stock Equivalent		452,242
Denominator for diluted EPS - adjusted Weighted average shares and assumed Conversions	8,093,199	7,423,669
Basic income (loss) per common share	$ (0.08)	$ 0.03
Diluted income (loss) per common share	$ (0.08)	$ 0.02

Short Term Debt - Related Par_2

Short Term Debt - Related Parties (Details Narrative) - USD ($)	1 Months Ended
	Oct. 31, 2019	Oct. 31, 2018	Dec. 31, 2020	Mar. 31, 2020
Debt Instrument [Line Items]
Long term debt related party			$ 225,000	$ 225,000
Community Specialty Pharmacy, LLC [Member] | Related Party Promissory Note [Member] | Nikul Panchal [Member]
Debt Instrument [Line Items]
Proceeds from issuance of promissory note		$ 300,000
Interest rate		10.00%
Debt instrument maturity date		Oct. 15, 2021
Debt instrument conversion amount	$ 75,000
Debt instrument conversion shares	25,000
Debt instrument conversion price per share	$ 3
Loss on extinguishment of debt	$ 76,500

Stockholders' Equity (Details N

Stockholders' Equity (Details Narrative) - USD ($)	Apr. 14, 2020	Mar. 31, 2021	Mar. 31, 2020
Class of Stock [Line Items]
Stock based compensation		$ 75,738	$ 61,997
Howard A. Doss [Member]
Class of Stock [Line Items]
Restricted common stock	12,500
Compensation awards description	Shares vest at the rate of ¼th of such shares on July 1 and October 1, 2020 and January 1 and April 1, 2021
Mr. Donald G. Fell, Dr. Pamela Tenaerts and Mr. Michael L. Peterson [Member]
Class of Stock [Line Items]
Restricted common stock	8,987
Legal Counsel [Member]
Class of Stock [Line Items]
Restricted common stock	5,000
Two Thousand Twenty Equity Compensation Awards [Member]
Class of Stock [Line Items]
Fair value of restricted common stock	$ 107,100
Stock based compensation		53,550
Independent Director Compensation Plan [Member]
Class of Stock [Line Items]
Fair value of restricted common stock	$ 165,000
Compensation awards description	which vest at the rate of ¼th of such shares on July 1 and October 1, 2020 and January 1 and April 1, 2021.
Stock based compensation		$ 82,500

Warrants (Details Narrative)

Warrants (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Class of Warrant or Right [Line Items]
Stock based compensation	$ 75,738	$ 61,997
Warrant [Member]
Class of Warrant or Right [Line Items]
Stock based compensation	$ 0	$ 79,089

Warrants - Schedule of Outstand

Warrants - Schedule of Outstanding and Exercisable Warrants (Details)	3 Months Ended
	Mar. 31, 2021USD ($)$ / sharesshares
Warrants and Rights Note Disclosure [Abstract]
Number of Outstanding Shares, Warrants Outstanding Beginning | shares	82,751
Number of Outstanding Shares, Warrants Granted | shares
Number of Outstanding Shares, Warrants Forfeited | shares
Number of Outstanding Shares, Warrants Exercised | shares
Number of Outstanding Shares, Warrants Outstanding Ending | shares	82,751
Number of Outstanding Shares, Warrants Exercisable Ending | shares	60,223
Weighted Average Exercise Price, Outstanding Beginning | $ / shares	$ 1.33
Weighted Average Exercise Price, Warrants Granted | $ / shares
Weighted Average Exercise Price, Warrants Forfeited | $ / shares
Weighted Average Exercise Price, Warrants Exercised | $ / shares
Weighted Average Exercise Price, Outstanding Ending | $ / shares	1.33
Weighted Average Exercise Price, Warrants Exercisable Ending | $ / shares	$ 1.81
Contractual Life in Years Warrants Outstanding, Beginning	2 years 8 months 23 days
Contractual Life in Years Warrants Outstanding, Granted	0 years
Contractual Life in Years Warrants Outstanding Ending	2 years 5 months 23 days
Contractual Life in Years Warrants, Warrants Exercisable Ending	1 year 4 months 2 days
Aggregate Intrinsic Value Outstanding Beginning | $	$ 352,951
Aggregate Intrinsic Value Outstanding Ending | $	349,157
Aggregate Intrinsic Value Warrants Exercisable Ending | $	$ 232,462

Options (Details Narrative)

Options (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options, granted	20,000
Options vesting period	4 years
Options exercise price	$ 6.55
Option term	5 years
Stock options, compensation cost	$ 75,738	$ 61,997
Stock Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options, granted	2,333,333
2019 Amended and Restated 2019 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available	2,000,000
Option share description	The Company's 2019 Amended and Restated 2019 Equity Incentive Plan provides for automatic increases in the number of shares available under such plan (currently 2,000,000 shares) on April 1st of each calendar year, beginning in 2021 and ending in 2029 (each a "Date of Determination"), in each case subject to the approval and determination of the administrator of the plan (the Board of Directors or Compensation Committee) on or prior to the applicable Date of Determination, equal to the lesser of (A) ten percent (10%) of the total shares of common stock of the Company outstanding on the last day of the immediately preceding fiscal year and (B) such smaller number of shares as determined by the administrator.

Options - Schedule of Estimate

Options - Schedule of Estimate Fair Value of Stock Options (Details)	3 Months Ended
	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0.00%
Weighted-average expected volatility, maximum	0.25%
Expected life of options	5 years
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average expected volatility, minimum	106.00%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average expected volatility, minimum	215.00%

Options - Schedule of Stock Opt

Options - Schedule of Stock Option Activity (Details)	3 Months Ended
	Mar. 31, 2021USD ($)$ / sharesshares
Number of Options, Granted | shares	20,000
Weighted Average Exercise Price, Granted | $ / shares	$ 6.55
Stock Options [Member]
Number of Options Outstanding, Beginning Balance | shares	425,817
Number of Options Exercisable, Beginning Balance | shares	282,167
Number of Options, Granted | shares	20,000
Number of Options, Forfeited | shares
Number of Options, Expired | shares
Number of Options, Exercised | shares
Number of Options Outstanding, Ending Balance | shares	445,817
Number of Options Exercisable, Ending Balance | shares	304,867
Weighted Average Exercise Price Outstanding, Beginning Balance | $ / shares	$ 4.44
Weighted Average Exercise Price Exercisable, Beginning Balance | $ / shares	4.52
Weighted Average Exercise Price, Granted | $ / shares	6.55
Weighted Average Exercise Price, Forfeited | $ / shares
Weighted Average Exercise Price, Expired | $ / shares
Weighted Average Exercise Price, Exercised | $ / shares
Weighted Average Exercise Price Outstanding, Ending Balance | $ / shares	4.53
Weighted Average Exercise Price Exercisable, Ending Balance | $ / shares	$ 4.44
Contractual Life in Years Outstanding, Beginning Balance	5 years 3 months 29 days
Contractual Life in Years Exercisable, Beginning Balance	4 years 6 months 21 days
Contractual Life in Years, Granted	4 years 10 months 6 days
Contractual Life in Years, Forfeited	0 years
Contractual Life in Years, Expired	0 years
Contractual Life in Years, Exercised	0 years
Contractual Life in Years Outstanding, Ending Balance	5 years 26 days
Contractual Life in Years Exercisable, Ending Balance	4 years 6 months 7 days
Intrinsic Value Outstanding, Beginning Balance | $	$ 597,322
Intrinsic Value Exercisable, Beginning Balance | $	384,226
Intrinsic Value, Exercised | $
Intrinsic Value Outstanding, Ending Balance | $	586,080
Intrinsic Value Exercisable, Ending Balance | $	$ 421,737

Other Receivables (Details Narr

Other Receivables (Details Narrative) - Integra [Member]	Aug. 14, 2020Integer	Feb. 28, 2021USD ($)	Dec. 31, 2020USD ($)	Aug. 31, 2020USD ($)Integer	Jul. 31, 2020USD ($)
Studebaker Defense Group, LLC [Member]
Down payment					$ 500,000
Number of nitrile gloves delivered | Integer	180,000
Loss contingency, damages sought, value			$ 500,000
Sandwave Group Dsn Bhd [Member]
Down payment				$ 581,250
Number of nitrile gloves delivered | Integer				150,000
Loss contingency, damages sought, value		$ 581,250

Contingencies (Details Narrativ

Contingencies (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended
	Jan. 31, 2020	Mar. 31, 2021
Claimed amount		$ 450,000
Compensatory Damages [Member]
Complaint seeks	$ 425,000
Punitive Damages [Member]
Complaint seeks	$ 1,275,000
Damages Sought Is Unclear [Member]
Complaint seeks		$ 425,000

Leases (Details Narrative)

Leases (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Leases [Abstract]
Reduction in right-of-use asset	$ 384,110
Reduction in lease liability	384,110
Operating lease amortization of right of use lease assets	31,678	$ 23,635
Amortization of Lease Liability	$ 31,517	$ 20,974

Leases - Schedule of Operating

Leases - Schedule of Operating Leases (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Initial Recognition of right-of-use assets at January 1, 2019	$ 355,693	$ 387,371
Lease 1 [Member]
Lessee, Lease, Description [Line Items]
Initial Lease Term	December 2017 to December 2021
Renewal Term	January 2021 to December 2024
Initial Recognition of right-of-use assets at January 1, 2019	$ 534,140
Incremental Borrowing Rate	10.00%
Lease 2 [Member]
Lessee, Lease, Description [Line Items]
Initial Lease Term	November 2018 to November 2023
Renewal Term	November 2023 to November 2028
Initial Recognition of right-of-use assets at January 1, 2019	$ 313,301
Incremental Borrowing Rate	10.00%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Payments for Operating Lease Liabilities (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Leases [Abstract]
2021	$ 146,218
2022	49,452
2023	50,949
2024	52,478
2025	54,052
Thereafter	147,046
Total minimum lease payments	500,195
Less: effect of discounting	(129,253)
Present value of future minimum lease payments	370,942
Less: current obligations under leases	117,030	$ 131,153
Long-term lease obligations	$ 253,912	$ 271,306

Segment Reporting - Schedule of

Segment Reporting - Schedule of Business Interests Into Reportable Segments (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Revenue	$ 3,053,235	$ 2,203,320
Gross Profit	1,383,311	1,640,136
Segment Assets	9,693,216	11,473,904	$ 9,792,702
Segment Profit (Loss)	(651,519)	180,303
Trxade, Inc. [Member]
Segment Reporting Information [Line Items]
Revenue	1,236,650	1,519,907
Gross Profit	1,236,650	1,519,907
Segment Assets	2,053,494	2,055,429
Segment Profit (Loss)	512,293	972,993
Community Specialty Pharmacy, LLC [Member]
Segment Reporting Information [Line Items]
Revenue	397,896	432,929
Gross Profit	36,089	36,108
Segment Assets	(405,348)	280,514
Segment Profit (Loss)	(31,251)	(41,245)
Integra Pharma, LLC [Member]
Segment Reporting Information [Line Items]
Revenue	1,402,586	245,016
Gross Profit	94,563	78,653
Segment Assets	3,111,536	1,817,170
Segment Profit (Loss)	(32,446)	(28,883)
Unallocated [Member]
Segment Reporting Information [Line Items]
Revenue	16,103	5,468
Gross Profit	16,009	5,468
Segment Assets	4,933,534	7,320,791
Segment Profit (Loss)	$ (1,100,115)	$ (722,562)

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)	Apr. 15, 2021	Apr. 15, 2021	Mar. 31, 2021
Options to purchase common stock			20,000
Options exercise price			$ 6.55
Subsequent Event [Member] | 2019 Equity Incentive Plan [Member]
Options to purchase common stock	17,500
Options exercise price	$ 4.76
Subsequent Event [Member] | Two Thousand and Twenty One Equity Compensation Awards [Member]
Shares issued, price per share	$ 5.13	$ 5.13
Subsequent Event [Member] | Two Thousand and Twenty One Equity Compensation Awards [Member] | Mr. Donald G. Fell [Member]
Number of restricted shares awarded		10,721
Number of restricted shares awarded, value		$ 55,000
Subsequent Event [Member] | Two Thousand and Twenty One Equity Compensation Awards [Member] | Dr. Pamela Tenaerts [Member]
Number of restricted shares awarded		10,721
Number of restricted shares awarded, value		$ 55,000
Subsequent Event [Member] | Two Thousand and Twenty One Equity Compensation Awards [Member] | Mr. Michael L. Peterson [Member]
Number of restricted shares awarded		10,721
Number of restricted shares awarded, value		$ 55,000